Acquisitions in Kentucky in 2022

Single Point Communications Group (SPCG) acquired Single Point Solutions of Central Kentucky (SPS of Central KY) as part of SPCG's strategic growth initiative. The transaction was sponsored and advised by Soterra Capital; SPS founder Rob Keelen will lead the transition of his team into SPCG's operations.

Private equity firms Centerbridge Partners and Bridgeport Partners completed an all-cash $1.6 billion acquisition of Computer Services, Inc. (CSI), taking the company private at $58.00 per share and causing its common stock to cease trading on the OTCQX. The deal positions CSI to accelerate investment in cloud, R&D, and expanded fintech/regtech product capabilities to better serve community banks, fintechs and corporate customers.

Caltius Equity Partners has made a significant growth investment in APHIX, a founder-owned commercial landscaping services provider operating in Kentucky and Tennessee. The capital will support APHIX's organic growth and platform build, with Caltius planning to pursue add-on acquisitions to expand maintenance revenue and market footprint.

Leap Partners, a Nashville-based home services roll-up, has acquired Hornback Plumbing of Elizabethtown, Kentucky. The deal expands Leap Partners' footprint into Kentucky while Hornback's owners, Donnie and Kim Hornback, will continue to lead the business under the Leap Partners platform.

Allworth Financial acquired the advisory teams and client relationships from Journey Advisory Group’s Gold River, California and Temple, Texas offices, adding approximately $215 million in AUM. The transaction expands Allworth’s regional presence and client base while allowing Journey Advisory Group to focus on its Midwest operations.

Bluewave Technology Group has acquired Virtual Telecomm, a Louisville-based telecom and IT infrastructure advisory agency. The founders of Virtual Telecomm — Mark White, Michael White, and Jason Hulsewede — will join Bluewave as equity partners and Ambassadors to support client success and Bluewave's continued growth.

ASG, a portfolio company backed by Alpine Investors, has acquired Sierra Interactive, a Louisville-based provider of lead generation and CRM software for real estate teams. The transaction positions ASG to expand its footprint in vertical real estate SaaS and accelerate Sierra's product and team growth.

IPACKCHEM Group acquired a majority stake in TPG Plastics LLC to bring its Advanced In‑Mold Fluorination (Advanced IMF) barrier packaging technology to North America and serve the crop protection market. The deal gives IPACKCHEM a manufacturing foothold in Murray, Kentucky and includes near‑term investments to expand capacity and support growth into additional life‑enhancing chemical segments.

Hub International Limited has acquired the assets of Peel & Holland (including Peel & Holland Holdings, Peel & Holland, Inc., Riddle Insurance, Hartin Dynamics, LLC, and Bluegrass Premium Finance, LLC). The transaction, terms undisclosed, brings the Peel & Holland leadership and team into Hub Mid-South and expands Hub’s commercial, personal insurance and employee benefits capabilities across Western Kentucky.

Spero Health, a PE-backed national outpatient addiction treatment provider, has acquired My Turning Point, a Kentucky-based outpatient addiction treatment program with four clinic locations (Stanford, Russell Springs, Nicholasville and Cynthiana). The deal expands Spero's network across Kentucky and increases local capacity for medication‑assisted and integrated behavioral health services.

Indianapolis-based private equity firm CID Capital has partnered with Wiseway (a Florence, Kentucky-based distributor of electrical, plumbing, and lighting supplies) in a recapitalization to support the company’s next phase of growth. Reinsurance Group of America provided financing for the transaction; Wiseway’s president John Cain will continue to partner with CID and the company will implement a formal board to drive growth and profitability.

Bowling Green-based Houchens Industries acquired 10 operating Slim Chickens franchise locations and the rights to develop 29 additional Slim Chickens sites across Kentucky from a group led by Tennessee franchisee Harold Wallace. The deal expands Houchens’ Slim Chickens footprint to a total of 42 locations and supports the company’s broader restaurant franchising growth in Kentucky.

Eir Partners, a Miami-based private equity firm, completed a majority recapitalization of Helpware, a Lexington, Kentucky-headquartered provider of digital customer experience, content control/verification and AI services. The recapitalization will support Helpware’s product investment and organic and inorganic growth as the company scales its global delivery model across fintech, e-commerce/retail, consumer services and healthcare verticals.

DXP Enterprises, Inc. completed the acquisition of Sullivan Environmental Technologies, a distributor and manufacturers' representative of pumps, valves, controls and process equipment serving municipal and industrial water/wastewater customers in Ohio, Kentucky and Indiana. Financial terms were not disclosed; Sullivan reported approximately $4.4 million of sales and $1.6 million of adjusted EBITDA for the twelve months ending July 31, 2022. The deal expands DXP's water and wastewater capabilities and is the company's fourth acquisition in 2022 (eleventh since Q4 2020).

Flexible Staffing of Lake in the Hills, Illinois has acquired Purcell Staffing, Inc. of Louisville, Kentucky. The acquisition expands Flexible Staffing's footprint into the Louisville market; terms were not disclosed.

Prescott's, Inc., a portfolio company of Atlantic Street Capital, has acquired Heartland Medical Sales & Service, a Louisville-based provider of sales, service, refurbishment and repair of anesthesia machines and related equipment. The acquisition expands Prescott's service offering into the anesthesia equipment category and represents an add-on to its PE-backed platform to broaden technical capabilities for hospitals, surgery centers and specialty practices.

American Elevator Group (AEG) has acquired Madden Elevator, a Louisville-based elevator service provider, expanding AEG’s service footprint across Kentucky and southern Indiana. The deal, facilitated by Maven Group, adds Madden’s maintenance, repair and modernization capabilities to AEG’s national platform (AEG is backed by Arcline Investment Management).

Five Star Parks & Attractions, a portfolio company of Fruition Partners, acquired three Malibu Jack's indoor theme park locations in Lexington, Louisville and Ashland, Kentucky. The deal expands Five Star's family entertainment center platform to 16 locations across eight states; Malibu Jack's founders and leadership will remain involved to help develop and open additional parks.

Advantage Capital provided a $7.5 million investment to FIAT Products to finance an acquisition that will transition the company to American ownership and support expansion in Somerset, Kentucky. The financing, made in connection with the Kentucky New Markets Development Program, is intended to preserve and grow local jobs and enable product and facility growth at FIAT’s 268,000 sq. ft. plant.

Southern HVAC Corporation (part of Southern Home Services) acquired Allen's Air Conditioning & Heating, expanding the buyer's residential HVAC footprint into the Elizabethtown/Hodgenville area of Kentucky. The acquisition adds a long‑standing local HVAC services business and extends Southern Home Services' multi‑state footprint in residential and light commercial HVAC, plumbing, and electrical services.

One80 Intermediaries, a Boston-based specialty insurance broker, has acquired National Insurance Agency of Simpsonville, a Kentucky-based broker that provides life and occupational disability insurance to professional associations. The acquisition expands One80's affinity-focused insurance capabilities and geographic reach in Kentucky and Arkansas; terms were not disclosed.

Bardstown Bourbon Company has entered into an agreement to acquire Green River Spirits Company, combining two Kentucky bourbon producers. The acquisition adds the historic Green River Distilling Co. in Owensboro and a production facility in Charleston, South Carolina, expanding Bardstown's custom distillation capacity and branded bourbon portfolio.

J&J Snack Foods Corp. agreed to acquire Dippin' Dots, L.L.C. (including the Doc Popcorn business) for $222 million, a transaction funded with cash and senior debt and expected to close in June 2022. The acquisition expands J&J's frozen novelty portfolio and production/distribution capacity, and closed on June 21, 2022.

Hudl, the Lincoln, Nebraska-based sports performance analysis and video platform, has acquired livestreaming leader BlueFrame Technology to expand its broadcasting and livestream capabilities. The acquisition integrates BlueFrame’s end-to-end streaming and production tools into Hudl’s product suite, enabling athletic programs (K-12 and collegiate) to monetize livestreams and reach more fans.

Pye-Barker Fire & Safety has acquired Bates Security, a Lexington, Kentucky-based provider of security, fire alarm, access control and video surveillance systems with additional offices in Kentucky and Florida. The add-on expands Pye-Barker's footprint across Kentucky, Florida and South Georgia and keeps the Bates team and leadership in place under Pye-Barker's platform.

CMG Companies (led by Al Bhakta) formed a new portfolio company, Bolster Hardware, and acquired 21 Ace Hardware stores operating as Potters Ace Hardware in Kentucky and Tennessee. The acquisition expands CMG's multi-unit franchise portfolio and diversifies its holdings beyond restaurants into the hardware/retail sector.

The Mather Group, a Chicago-based wealth management firm with roughly $8.3 billion in AUM, has acquired Multi-Fund Management Ltd., a Louisville- headquartered registered investment adviser led by David Handmaker. Handmaker joined TMG as part of the transaction; the deal expands TMG’s geographic footprint and capabilities in wealth management and client services.

GHK Capital Partners LP completed the acquisition of Auveco, a Cold Spring, Kentucky-based master distributor of automotive body hardware and general industrial fasteners, from Tenex Capital Management. Terms were not disclosed; GHK said the deal will support Auveco's organic and inorganic growth initiatives while existing senior management will remain in place.

Pritzker Private Capital (PPC) has acquired Bardstown Bourbon Company, a Kentucky-based distiller, producer and bottler of premium bourbon and rye whiskey, with PPC investing alongside Bardstown Bourbon's management team and current investors. The deal will support Bardstown's growth by increasing production capacity, expanding its branded product presence and enhancing its experiential Bourbon Trail destination; financial terms were not disclosed.

Switzerland-based Bauwerk Group AG has acquired U.S.-based Somerset Hardwood Flooring, effective May 1. The deal strengthens Bauwerk's presence in North America and expands its premium hardwood flooring portfolio, with Somerset retaining its brand and operations under the Bauwerk umbrella.

Bluespring Wealth Partners, a Kestra Holdings subsidiary, has acquired Joule Financial, an independent registered investment adviser based in Lexington, Kentucky. The deal brings Joule's $280 million in AUM and its team into Bluespring's platform to scale operations, enhance client service, and accelerate growth.

Heartland Home Services, a Midwestern technology-enabled provider of HVAC, plumbing and electrical home services, has acquired GreenBox Heating & Air, a residential HVAC provider based in Lexington, Kentucky. The acquisition strengthens Heartland's presence in central Kentucky and brings GreenBox access to Heartland’s technology and resources while GreenBox’s leadership and technicians remain in place.

Unleashed Brands, a multi-brand youth-enrichment platform, has acquired Class 101, the U.S.-based college planning and admissions coaching franchise. The deal expands Unleashed Brands' portfolio into the teen/college-planning market to broaden its education offerings and leverage its platform resources to scale Class 101's franchise network.

Hub International Limited has acquired Taylor Advisors, Inc., a Louisville, Kentucky-based financial consulting and investment advisory firm. The acquisition strengthens Hub's Financial Institutions Specialty and expands its retirement advisory capabilities; terms were not disclosed and the Taylor Advisors team will join Hub Financial Services.

Elvisridge Capital, a private investment firm, has acquired BBS Tech, LLC (dba FINS Fishing), a braided fishing line and industrial braid manufacturer based in Erlanger, Kentucky. Elvisridge said it will provide capital to increase manufacturing capacity and efficiency, expand distribution, and build the FINS brand; BBS President Lee Burch will remain in day-to-day operations and report to Elvisridge's sportfishing segment lead.

CertaSite, a commercial fire protection platform backed by The Riverside Company, has acquired Teasley Fire Protection, a family-owned fire protection firm in Frankfort, Kentucky. The add-on expands CertaSite's geographic footprint into Kentucky and brings Teasley's fire sprinkler, extinguisher, suppression and emergency lighting services onto the CertaSite platform; owner Joe Teasley will remain with the business in a new role.

Camping World Holdings, Inc. announced it will acquire Big Daddy RV's, a family-owned RV dealership in London, Kentucky. The location (325 County Farm Road) will transition to the Camping World brand upon closing as the company expands its dealership footprint in Kentucky to better service customers.

FleetPride, Inc. acquired the assets of Nationwide Truck Service, a family-owned heavy-duty truck repair and roadside service provider in Louisville, Kentucky. The deal expands FleetPride’s local service footprint and parts-service integration in Louisville while owner Eric Adkins (and his son Jake) remain involved to support a smooth transition and employee continuity.

Celero Commerce, a Nashville-based payments operator backed by LLR Partners, acquired Kentucky-based OMEGA Technology, a provider of electronic transaction processing, payments software and business analytics. The deal expands Celero's technology-focused commerce offerings and merchant portfolio, bringing the combined company to over 50,000 merchants processing roughly $20 billion in annual card volume.

HomeServe USA has acquired United Plumbing Company, a residential plumbing contractor based in Goshen (Louisville), Kentucky. United Plumbing, led by former owner Christopher Montgomery who will become General Manager, has nearly 40 employees and will help HomeServe expand its service footprint into the Louisville market and strengthen its local skilled-trades network.

Charles Taylor has acquired Underwriters Safety & Claims (US&C), a Louisville-based third-party administrator and managed care services provider. The acquisition expands Charles Taylor’s U.S. claims management and managed care capabilities and broadens its geographic footprint into the Southeast and Midwest.