Acquisitions in Kansas in 2022

Integrated Polymer Solutions, a portfolio company of Arcline Investment Management, has acquired AkroFire, a designer and manufacturer of elastomeric fire seal solutions and cargo bay repairs serving business jet, commercial aerospace, and defense markets. The acquisition is an add-on to IPS intended to expand its aerospace sealing and engineering capabilities and scale production for OEM customers.

OutSolve, a Riverside-backed employment compliance firm, has acquired the affirmative action line of business of The Austin Peters Group, Inc., expanding OutSolve’s OFCCP and affirmative action capabilities. The transaction is an add-on to OutSolve’s roll-up strategy and follows Riverside’s involvement to scale the platform’s services and customer acquisition.

Northleaf Capital Partners has acquired a controlling interest in Mercury Broadband and will invest up to $230 million to accelerate Mercury's deployment of high-speed fiber and fixed wireless broadband across underserved rural markets in the U.S. Midwest. The capital will support construction of more than 12,000 miles of outside plant and hundreds of fixed wireless access sites across select markets in Kansas, Indiana, Missouri, Michigan, Ohio and Illinois.

PPC Flexible Packaging LLC, a GTCR-backed flexible packaging platform headquartered in Buffalo Grove, Illinois, has acquired Plastic Packaging Technologies, LLC (PPT), a flexible packaging manufacturer based in Kansas City, Kansas. The acquisition adds PPT’s two manufacturing and distribution facilities and ~425 employees to PPC’s network, expanding capacity, capabilities and geographic footprint across North America.

Marcone, a Genstar Capital portfolio company and leading North American distributor of appliance, HVAC and plumbing parts, has acquired Great Plains/Pool & Spa Products, a family-owned regional pool and spa equipment and parts distributor with operations in Kansas City and Houston. The acquisition represents Marcone's entry into the pool and spa distribution market and will be used to grow Marcone's national distribution footprint and pursue additional M&A in the space.

All States Ag Parts (ASAP), a portfolio company of Kinderhook Industries, acquired Arrow Acquisition, LLC (Arrow), a Lenexa, Kansas-based supplier and manufacturer of forks and attachments for material handling and heavy equipment. The add-on expands ASAP's product offering into material handling, adds in-house manufacturing and engineering capabilities, and marks ASAP's fifteenth add-on since partnering with Kinderhook.

McKesson Corporation has signed a definitive agreement to acquire Rx Savings Solutions (RxSS) for up to $875 million (approximately $600M upfront plus up to $275M contingent consideration). The acquisition brings RxSS's prescription price-transparency and medication adherence capabilities into McKesson's Prescription Technology Solutions business to expand medication access, affordability and outcomes-management offerings for payers, employers and patients.

BioIVT has acquired XenoTech, a Kansas City–based provider of ADME‑Tox in vitro models and contract research services, from Sekisui Chemical. The acquisition expands BioIVT's hepatic product portfolio and ADME/DMPK capabilities to better support biopharma customers' preclinical testing needs. Financial terms were not disclosed.

Tecta America, the national commercial roofing leader, has acquired Mahaney Group, a Wichita, Kansas-based commercial roofing, sheet metal and structural steel services provider. The Mahaney management team, led by Mark Bolt, will remain in place and the operation will be known as Mahaney, a Tecta America Company.

Dutch Miller Auto Group has acquired Cody Foster Buick GMC of El Dorado, Kansas from owner Cody Foster. The single-location Buick/GMC dealership will be renamed Dutch Miller Buick GMC of El Dorado as part of Dutch Miller's geographic expansion into Kansas.

Munch's Supply, the HVAC division of Marcone, has acquired Wholesale Sheet Metal (WSM) and Pile Protection Tops (PPT) to expand its sheet metal capabilities in the Kansas City market. The deal expands Munch's geographic footprint (to 71 locations serving 17 U.S. states and one Canadian province) and will support the O'Connor Company business unit; WSM/PPT owner Patrick Chilen will remain involved and Saundra and Tim Roche will continue to lead the business.

Pediatric Home Service (PHS), an InTandem Capital Partners portfolio company, expanded its pediatric home-care platform into Kansas, Missouri and Nebraska by bringing Craig HomeCare and Cherub Medical Supply into its unified service offering. The deals add pediatric nursing, respiratory therapy and durable medical equipment capabilities to PHS’s network to provide a coordinated home-care solution for medically complex children.

JAL Equity, an owner-operator of marketing, printing and e-commerce businesses, has acquired D. Rockey Holdings, Inc. (dba Eagle Products) from founder and sole owner Dave Rockey; the transaction closed July 15, 2022 with Generational Equity advising the seller. Eagle Products is a Kansas City, Kansas-based wholesale manufacturer of decorated apparel that will be integrated into JAL Equity’s TShirts.com portfolio, with Dave Rockey remaining as President to support continuity and growth.

Pandion Optimization Alliance has acquired GroupSource GPO, a Midwest-focused group purchasing organization specializing in ambulatory care, physicians' offices and colleges. The acquisition adds GroupSource's 10,000+ membership base and is expected to inorganically add more than $350 million in sales volume to Pandion's portfolio, supporting Pandion's goal to exceed $1 billion in GPO volume.

Babcock Power Inc., through its Babcock Power Renewables LLC subsidiary, acquired substantially all of the assets of Renewable Concepts Inc. and affiliate R. Tinsley Projects Inc. The acquisition adds wind-turbine maintenance, engineering and repair capabilities to Babcock's clean-energy services portfolio; terms were not disclosed.

T‑Mobile US (controlled by Deutsche Telekom) completed its acquisition of Sprint, previously controlled by SoftBank Group, consolidating the U.S. wireless market from four national carriers to three. Plaintiffs filed a federal class action alleging the merger reduced competition and caused billions in higher wireless prices for consumers and businesses.

MKD Electric, a portfolio company of Hastings Equity Partners, has invested in Bachelor Controls, a Sabetha, Kansas-based control systems integrator. The transaction expands MKD's automation and electrical service capabilities, broadens its geographic footprint, and strengthens offerings to food & beverage, pharmaceutical, and other manufacturing customers.

LRS has acquired Topeka-based Ditch & Associates, a fourth-generation family-owned roll-off, commercial and residential waste services provider. The bolt-on deal immediately adds roughly 9,000 residential and 400 commercial customers, densifying LRS's footprint in Topeka and expanding its regional market share.

Flight Schedule Pro, a cloud-based flight school and training management software provider, has acquired Coradine Aviation Systems, the developer of the LogTen electronic pilot logbook. The deal will keep Coradine's team intact and integrate LogTen into Flight Schedule Pro’s platform to expand capabilities for pilots, flight schools and other aviation customers.

Universal Technical Institute, Inc. (UTI) agreed to acquire Concorde Career Colleges, Inc. from Liberty Partners LLC for $50 million, expanding UTI's offerings into healthcare education. Concorde — a Mission, Kansas–based provider of blended healthcare and allied health programs serving ~7,400 students across 17 campuses — will broaden UTI's diversification and workforce-solutions strategy; the deal closed in December 2022.

Marel has acquired Wenger Manufacturing LLC for USD 540 million, creating a new business segment focused on pet food, plant-based proteins, and aqua feed. The acquisition (closed June 9, 2022) adds Wenger's extrusion and dryer technology, ~500+ employees and expected 2022 revenues of about USD 190 million to Marel's portfolio, and is expected to be margin- and earnings-enhancing on a pro-forma basis.

HungerRush, a Capstreet-backed cloud POS and restaurant technology provider, acquired Menufy, a Kansas-City-based online ordering and marketplace platform. The deal integrates Menufy’s fast-scaling ordering network (supporting more than 12,000 restaurants) into HungerRush’s cloud POS and broader restaurant technology suite to expand capabilities and accelerate market reach across the U.S.

Mainsail Partners has made a $31 million growth equity investment in Flight Schedule Pro to accelerate the company's product roadmap, expand its team, and scale customer service. Flight Schedule Pro will use the capital to grow its cloud-based flight school and training management SaaS amid rising demand for pilot training.

PromptCare has acquired ARJ Infusion Services, LLC, a regional infusion provider headquartered in Lenexa, Kansas that operates four pharmacies, multiple nursing facility relationships and five infusion suites. The acquisition expands PromptCare's specialty pharmacy, nursing and infusion capabilities and increases patient access to infusion therapies as part of PromptCare's national footprint.

Clearwave Fiber has entered into a definitive agreement to acquire the assets of RG FIBER, a high-capacity fiber network service provider near Kansas City, Kansas. The deal marks Clearwave's entry into Kansas and gives the company a foothold to expand fiber services into nearby underserved communities.

Transport Investments, Inc. (a Gemspring Capital portfolio company) has acquired SmartWay Transportation, LLC, a multimodal freight brokerage and transportation management firm based in Overland Park, Kansas. The transaction is an add-on to Transport’s platform intended to expand its brokerage and transportation-management capabilities and give SmartWay’s ~800 customers access to Transport’s broader capacity and value-added logistics services.

Argosy Private Equity acquired Preco, Inc. (which will become Preco, LLC) in a platform buyout that closed on March 11, 2022. Preco is a designer and manufacturer of laser processing and specialty die cutting systems and a major contract manufacturing services provider headquartered in Lenexa, Kansas; Argosy intends to grow the business through development of the company's product and service offerings.

GenNx360 Capital Partners’ portfolio company, B2B Industrial Packaging, acquired Miller-Bevco, a Shawnee, Kansas-based packaging solutions provider, effective February 1, 2022. The deal is B2B’s ninth add-on since GenNx360’s October 2020 investment and is intended to expand B2B’s product, service and geographic reach for packaging customers across the U.S.

Dallas-based private equity firm Sky Island Capital made a majority investment in SkyMark Refuelers, LLC and related company KC Tank, LLC, partnering with the companies' founders to support growth. SkyMark, headquartered in Kansas City, Kansas with production in Findlay, Ohio, is a manufacturer of custom work trucks and vacuum tanks serving aviation refueling, liquid waste removal, rail, and other industrial end markets.

PayrHealth, an Osceola Capital Management portfolio company, has acquired SilverCreek RCM, a Pittsburg, Kansas-based full-service revenue cycle management provider. SilverCreek founder Rebecca Light will join PayrHealth as President of Revenue Cycle Management to lead the combined RCM division; the deal strengthens PayrHealth's RCM capabilities and establishes a platform for further tuck-in acquisitions.

FileTrail, a provider of information governance and records management software, has acquired Teravine, Inc., an Overland Park, Kansas–based information governance SaaS provider serving large law firms. FileTrail will integrate Teravine's Provident software into its governance suite to create a more complete end-to-end solution and advance future capabilities including AI and NLP; Teravine's former CEO Wes Baldwin will join FileTrail as CTO.

Pfingsten Partners, a Chicago-based private equity firm, has acquired Fairbank Equipment, Inc. from Great Range Capital. TM Capital served as exclusive advisor to the seller; Great Range Capital had owned Fairbank since December 2012 and supported its expansion into fertilizer and propane markets.