Acquisitions in Kansas in 2023

Chicago-based private equity firm Frontenac has partnered with Integrated Openings Solutions (IOS), a value-added specialty distributor and service provider of commercial door openings and access control solutions headquartered in Olathe, Kansas. The investment will support IOS's geographic expansion and broaden its product and service offerings while founders Joe Lopez and Nick McCarty remain in leadership; TM Capital served as financial advisor to IOS.

NDH Advisors LLC, a Chicago-headquartered accounting firm backed by private equity firm Unity Partners LP, has completed the acquisition of Stratus Group LLC, a Leawood, Kansas-based tax and accounting firm. Terms were not disclosed; Stratus employees will join NDH's Employee Purpose Plan as part of NDH's strategy to expand its footprint and service offerings in the Kansas City region.

MCCi, a portfolio company of Century Park Capital Partners, has acquired GovBuilt, a Manhattan, Kansas–based low-code/no-code case management and community development platform for government agencies. The add-on acquisition expands MCCi’s GovTech product suite and aims to accelerate product integrations and deployments for state and local government clients.

Trecora LLC, an affiliate of private equity firm Balmoral Funds, has acquired the lubricant additives business of Chemtrade Logistics located in Lawrence, Kansas. The acquired business — a leading North American producer of phosphorus pentasulfide (P2S5) — will be integrated into Trecora's Specialty Chemicals business; financial terms were not disclosed.

Consolidated Equipment Group, a portfolio company of Dominus Capital, has acquired PRO-DIG, a manufacturer of foundation drilling and piling equipment based in Elwood, Kansas. The deal is the first add-on for the CEG platform under Dominus' ownership as part of a strategic M&A growth plan; PRO-DIG founder Michael Charlton will remain in a leadership role. CriticalPoint served as exclusive financial advisor to CEG on the transaction.

Thomas Scientific completed the acquisition of Lenexa, Kansas-based Arrowhead Forensics on October 5, 2023. The deal expands Thomas Scientific’s product portfolio and Midwest distribution/kitting capabilities, and brings Arrowhead’s forensics expertise and customer relationships (particularly with law enforcement and government agencies) into Thomas’s offering.

Nature's Touch has acquired certain assets of Sunrise Growers, the frozen fruit operations of SunOpta Inc., in a transaction valued at an aggregate purchase price of approximately $141 million. The deal transfers facilities in Edwardsville, Kansas and Jacona, Mexico to Nature's Touch, expanding its production capacity, product diversity and North American geographic reach.

WellSky, a health and community care technology company backed by Leonard Green and TPG, has acquired The Corridor Group Holdings (Corridor) from HealthEdge Investment Partners. The acquisition expands WellSky's medical coding and revenue cycle management (RCM) capabilities for the post-acute care market and brings Corridor's tech-enabled coding, clinical documentation review, billing and collections services into WellSky's platform.

Pave America has partnered with and added Kansas Asphalt, a Bucyrus, Kansas–headquartered asphalt and concrete paving and maintenance provider, to its platform as an add-on to expand its national footprint. The transaction brings Kansas Asphalt’s self-performing locations and subcontractor network into Pave America’s platform, which is backed by private equity sponsors including Shoreline Equity Partners (and referenced Trivest Partners in the announcement).

Thinktum Inc., a Waterloo, Ontario-based no-code insurance technology firm, has acquired Illustrate Inc., a provider of cloud-based life insurance illustration, e-application and point-of-sale software with operations in Overland Park, Kansas and Toronto, Ontario. The acquisition combines Thinktum's no-code underwriting and e-app solutions with Illustrate's OPUS platform to expand capabilities and service offerings for insurers and insuretechs; senior leadership roles were reallocated with Paul Reaburn as CEO and David Slabodkin as Chairman.

The J.M. Smucker Co. agreed to acquire Hostess Brands for approximately $5.6 billion including debt ( $34.25 per share in a cash-and-stock transaction), expanding Smucker's portfolio into sweet baked goods and convenience-store channels. The deal, completed Nov. 7, 2023, brings Hostess's iconic brands (Twinkies, HoHos, DingDongs, Voortman, etc.), manufacturing sites across North America and roughly 3,000 employees into Smucker's business.

FFL Partners, a San Francisco-based private equity firm, completed a growth investment and recapitalization in Johnson County Clin‑Trials (JCCT), a Lenexa, Kansas clinical research site platform specializing in Phase I–IV trials. The investment will fund JCCT's footprint expansion, patient recruitment capabilities and strategic M&A activity across the fragmented clinical research site sector; Jeanne Hecht will join JCCT's board as part of the transaction.

The Lawless Group, a Dallas-based manufacturers' representation agency, has acquired Hobart Associates of Kansas City, Kansas, expanding Lawless's warehousing program to eight locations and extending its North Central regional coverage. The deal completes a succession plan for Hobart founder Don (Jesse) James Sr. and brings Hobart's offices, training center and more than 60,000 square feet of warehouse space into Lawless's solutions offering.

Coalesce Capital has completed a recapitalization of Examinetics alongside existing shareholder Freedom 3 Capital and company management. The investment will fund Examinetics' expansion into new markets and further development of its occupational health testing technologies (including its Salux auditory testing platform).

Dallas-based Trive Capital and New York-based Epic Partners have invested in Pryor Learning, a corporate training, credentialing and educational content provider headquartered in Mission, Kansas. The investment will support Pryor's digital offering and buy-and-build growth strategy; Steven Riehs has been named CEO. Trive and Epic plan organic investments to enhance the customer experience and pursue acquisitions to expand Pryor's content and platform capabilities.

DreamSeat, a commercial stadium and arena seating specialist, has acquired The Stadium Chair Company effective August 1, 2023. The acquisition brings the Stadium Chair product line and its Lenexa, Kansas facility into DreamSeat’s portfolio to expand its seating and furnishings offerings for sports, education and corporate venues.

Abry Partners has agreed to acquire an equity interest in Prime Capital Investment Advisors (PCIA), providing growth capital and joining PCIA’s board to support expansion. The partnership will supply additional investment capital while preserving PCIA’s client-focused service model and leadership team.

Vantage Surgical Solutions, a Pharos Capital Group–backed provider of mobilized ophthalmic surgical equipment and services, acquired Ophthalmic Surgical Solutions (OSS), a Lecompton, Kansas–based ophthalmic equipment and services provider. The deal is an add-on acquisition that expands Vantage’s geographic footprint and clinical capabilities to better serve hospitals and ambulatory surgery centers, particularly in rural communities.

International private equity firm Cinven has agreed to acquire Archer, a leading provider of integrated risk management (IRM) cloud software, from Clearlake Capital Group and Symphony Technology Group. The deal — expected to close subject to regulatory approvals — will support Archer's international expansion and product-led growth as a standalone SaaS platform.

Missouri-based Permanent Equity has formed a long-term financial partnership and acquired a majority stake in Wichita-based Chance Rides Manufacturing, Inc. Founder and longtime owner Dick Chance will retain a minority interest and transition from CEO, with Aaron Landrum named President & CEO; Chance Rides will remain headquartered in Wichita and continue operating under its existing name and management team.

Gauge Capital has acquired FlutterHabit, a Lenexa, Kansas–based direct-to-consumer eCommerce brand specializing in premium eyelash extensions. D.A. Davidson served as exclusive financial advisor to FlutterHabit; financial terms were not disclosed.

Cetera Holdings, the holding company of Cetera Financial Group, has acquired The Retirement Planning Group, LLC (TRPG), an independent RIA headquartered in Leawood, Kansas. TRPG manages approximately $1.4 billion in AUM across about 1,825 client accounts, has ~40 employees (including 14 advisors), and will join Cetera’s advisor network to expand its wealth-management capabilities and advisor affiliations.

AE Industrial Partners (AEI) has acquired a majority interest in Yingling Aviation, a Wichita-based provider of MRO and FBO services for business and government aviation. Terms were not disclosed; Yingling’s leadership (Chairman & CEO Lynn Nichols and President Andrew Nichols) will remain active owners and operators as AEI seeks to build a scaled independent platform in business aviation services.

Ennis, Inc. (NYSE: EBF) announced the acquisition of the operating assets of UMC Print in Overland Park, Kansas. UMC Print, a trade-only sheet-fed commercial printer founded in 1936, will continue operating at its current location as Ennis expands its locations and printing capabilities to better serve distributor partners.

Nexa Equity has made a majority growth investment in Storewise, a Kansas-based provider of retail automation software for independent grocers. The investment will fund product development, go-to-market expansion, and strategic acquisitions while Storewise's existing management team remains in place.

NewSpring Healthcare, the dedicated healthcare strategy of private equity firm NewSpring, led a financing round in Patheous Health, a provider of mobile and onsite dysphagia diagnostic services. The investment will fund an aggressive growth plan — including geographic expansion and strategic hires — to bring Patheous Health's mobile dysphagia platform to more skilled nursing and senior care sites.

Carson Wealth announced an equity partnership with Overland Park-based Integrated Wealth, bringing the six-person advisory team into Carson’s network and rebranding the firm as Carson Wealth. The deal gives Integrated Wealth access to Carson’s technology, investment offerings and operating resources to support growth of its $400 million AUM practice and expand Carson’s footprint into Kansas.

The Financial Times has acquired a majority stake in Endpoints News, a US-based biopharma news publisher, to expand its footprint in the United States and deepen its coverage of the biopharmaceutical sector. Endpoints, founded and headquartered in Lawrence, Kansas, publishes daily newsletters, operates a website and hosts industry events with a large subscriber base.

T. Rowe Price has entered a definitive agreement to acquire Retiree, Inc., a fintech firm that provides retirement income planning software. The terms were not disclosed and the deal is expected to close in Q2 2023; T. Rowe Price said the acquisition will expand its retirement income capabilities and integrate Retiree's tax-aware income planning technology into its retirement solutions.

Chauvet, a Florida-based lighting manufacturer, has acquired LynTec, a Lenexa, Kansas manufacturer of remotely operated AC power control systems for lighting, video and audio systems. The acquisition expands Chauvet's product portfolio and enables bundled lighting and power-control solutions for live-venue, house-of-worship and pro AV customers.

Dutch mobile-storage leader Bruynzeel Storage Systems has acquired Topeka-based Delta Designs Ltd, a North American specialist in museum and institutional collection storage cabinetry. The deal strengthens Bruynzeel's presence in the US market, broadens its product offering for museums, archives and universities, and supports its goal to exceed €100 million in revenue by 2026.

Prometheus Group has acquired Atonix Digital and launched Prometheus APM, integrating AtonixOI into its plant maintenance and operations platform to provide predictive and prescriptive asset performance management. AtonixOI—originally built by Black & Veatch and used by hundreds of industrial sites—will be enhanced with native integration to Prometheus' EAM/ERP-connected solutions to improve reliability, safety and operational efficiency.

Strength Capital Partners made a minority growth investment in Kansas Golf & Turf, a Wichita-based dealer and distributor of golf cars, turf and lawn equipment, and related parts and repair services. Strength will partner with the McGreevy family to support organic growth initiatives and pursue strategic add-on acquisitions; financing for the deal included Enterprise Bank and Northcreek Mezzanine.

GridSource, a Fund V portfolio company of Hastings Equity Partners, has acquired WiseConnect, an Overland Park, Kansas-based provider of end-to-end telecom network installation and managed services. The add-on expands GridSource's service offering and geographic footprint, marking the first add-on since Hastings acquired GridSource in December 2022.

Trinity Hunt Partners made a strategic growth investment in the advisory business of MarksNelson to serve as the initial investment for Trinity Hunt’s new advisory services platform. The capital and operational support will be used to expand service capabilities, invest in talent and technology, accelerate organic growth, and pursue buy-and-build acquisitions while MarksNelson continues to operate an alternative practice structure for attest and advisory services.

Natural Environmental Solutions, Inc. has acquired the website MinimumRiskPesticide.com to more easily bring its line of EPA minimum-risk, natural-based pesticide products (including Morgan’s Repellent and formulations for blue-green algae and zebra mussels) directly to consumers. The acquisition aims to expand the company's direct-to-consumer e-commerce channel and accelerate distribution of its patent and patent-pending products.

Pittsburgh-based private equity firm 3 Rivers Capital has acquired Magnum Systems, a Lenexa, Kansas-based designer and manufacturer of material handling and packaging systems. Patriot Capital and SharpVue Capital provided debt and equity financing for the transaction; seller was Blue Sage Capital, which exits after a prior 2016 investment. The deal supports 3 Rivers' entry into industrial automation and will expand Magnum's engineering, project management, and product capabilities.

Shore Capital Partners, a Chicago-based private equity firm, has completed a partnership with Container Services, Inc. (CSI), a custom blow molder of PET and HDPE rigid plastic containers headquartered in Hillsboro, Kansas. Shore will provide capital and operational support to drive organic growth, invest in sales and operations, and pursue inorganic growth opportunities (add-on acquisitions) while Brent Driggers remains CEO.

Ampersand-backed Sterling Medical Devices recapitalized and merged with RBC Medical Innovations to create a combined electromechanical medical device design, development and manufacturing company. The transaction brings together complementary capabilities (including energy-based electromechanical device expertise and manufacturing) and appoints industry veteran David Montecalvo as CEO of the combined business.

Kadenwood, a Newport Beach-based plant‑based wellness company, has acquired Probulin, a probiotic and microbiome health brand previously owned by HempFusion Wellness, Inc. The deal expands Kadenwood’s portfolio into the probiotics category and adds retail and e‑commerce distribution channels to accelerate growth across natural, drug and mass retail outlets.

WANRack, a national fiber infrastructure provider backed by CBRE Investment Management, entered into a definitive agreement to acquire JMZ Corporation d/b/a KwiKom Communications. KwiKom — a Kansas-based operator of fiber optic and fixed wireless broadband serving parts of Kansas, Missouri, Oklahoma and Nebraska — will continue operating under its brand; the deal is expected to close in Q1 2023 subject to customary approvals.

CJK Group, Inc. has acquired the assets of Allen Press, a Lawrence, Kansas-based print and publishing services company. The acquisition adds a Sheridan-branded printing facility (renamed Sheridan Kansas) and folds Allen Press's editorial and content services into KnowledgeWorks Global Ltd., expanding CJK's production footprint and content capabilities for scholarly and association publishers.

Olympic Steel Inc. (Nasdaq: ZEUS) has acquired all outstanding shares of Metal-Fab, Inc., a Wichita-based manufacturer of venting and filtration products. The deal expands Olympic Steel's manufacturing capabilities and product offerings in coated carbon and stainless steel and is expected to be immediately accretive.