Acquisitions in Kentucky in 2024

Aurora Material Solutions, backed by private equity sponsor Nautic Partners, has acquired Lastique International Corporation and will integrate the business into its Sustainable Product Solutions platform. Lastique, a leading recycler and supplier of rigid PVC and other thermoplastic resins, will operate as a standalone segment under Aurora with existing management retained and will expand Aurora's recycled-content and closed-loop capabilities.

Limbach Holdings, Inc. (Nasdaq: LMB) acquired Consolidated Mechanical, Inc. (CMI) for an initial purchase price of $23 million with up to $2 million in contingent earn-outs. CMI, founded in Owensboro, Kentucky, is expected to contribute roughly $23 million of annualized revenue and $4 million of EBITDA beginning in 2025, expanding Limbach's industrial services footprint in Kentucky, Michigan, and Illinois and adding capabilities in power generation, food processing, manufacturing and metals markets.

Savant Wealth Management acquired Louisville-based Sortino Advisory Partners, a veteran-owned fee-only RIA with $239 million in assets under management (and $135.7 million in assets under advisement). The deal closed on September 30; terms were not disclosed and Sortino principals Daniel Hutcherson and Stephen Heitz joined Savant as financial advisors, managing directors, and member-owners.

An affiliate of American Industrial Acquisition Corporation (AIAC) has acquired KI USA Corporation from Keiaisha Co., Ltd. The deal includes KI USA’s Berea, Kentucky manufacturing facility and its subsidiary in Irapuato, Guanajuato, Mexico; AIAC intends to maintain technical support from Keiaisha during transition and pursue additional long‑term automotive contracts.

Michelli Weighing & Measurement, a portfolio company of Summit Park, has acquired and recapitalized American Scale, LLC, a Louisville, Kentucky-based provider of industrial weighing services, calibration and scale equipment sales/rentals. The deal expands Michelli's geographic footprint into Kentucky and Indiana and strengthens its nationwide service and calibration capabilities.

KSC Holdings, a Danville, Kentucky-based holding company focused on mechanical construction businesses, has acquired family-owned Stansbury Electric Co. of Louisville. The transaction, which closed November 8, 2024, was advised by Generational Group and expands KSC's holdings in plumbing, electrical, garage door and industrial supply services as it builds a regional mechanical services platform.

Battery Ventures has made a majority growth investment in QSR Automations, a Louisville-based provider of restaurant technology solutions including its ConnectSmart platform. The investment will support product development, scale the business, and expand market reach while Battery partners join QSR Automations' board and a Battery executive will become CEO.

Lark Electric has acquired May Electric, two long-standing Owensboro electrical contractors, to combine Lark's commercial and residential expertise with May's industrial electrical and controls capabilities. The deal includes creating a downtown training center in partnership with Owensboro Community & Technical College to accelerate electrician apprenticeship and workforce development.

Flagger Force, a Hummelstown, Pennsylvania–based short-term traffic control operator, has acquired Louisville, Kentucky–based NTC Traffic Control to expand its operations into Kentucky and the Midwest. Flagger Force is a portfolio company of private equity firm Blue Sea Capital; the transaction brings NTC's traffic management, emergency response and equipment rental capabilities into Flagger Force's platform.

Redeux Energy sold a utility-scale hybrid solar and battery storage development project (200 MWdc solar, 40 MW/160 MWh storage) located in Ohio County, Kentucky to Scout Clean Energy. Scout, a Boulder-based renewable developer and portfolio company managed by Brookfield Asset Management, will advance the project through later-stage development, financing and construction; Redeux was advised by Marathon Capital.

Blue Compass RV, a Fort Lauderdale–based retail operator, has acquired Patriot RV in the Lexington, Kentucky market and rebranded the store as Blue Compass RV. The location — a state-of-the-art facility on I-75 in Georgetown — expands Blue Compass's footprint in the Lexington area and enhances its retail and service capacity for new and used recreational vehicles.

AWI Holdings, LLC (Auto-Wares), a portfolio company of Kinderhook Industries, has acquired Moog Louisville Warehouse, a leading distributor of automotive parts with 20 Bumper to Bumper locations in the greater Louisville, Kentucky and southern Indiana markets. The add-on expands Auto-Wares’ geographic footprint and market density in the Midwest; financial terms were not disclosed.

Buske Logistics, a portfolio company of Miami-based private equity firm Fourshore Partners, has acquired Hydra Warehouse and Transportation. The acquisition adds Hydra's five warehouses (approximately 1.5 million square feet) in the Louisville/southern Indiana area, expanding Buske's 3PL warehousing and transportation capabilities in the bourbon and food processing end markets.

Apogee Enterprises agreed to acquire UW Interco, LLC ("UW Solutions") from Heartwood Partners for approximately $240 million in cash; the transaction subsequently closed (reported completion at $242 million). UW Solutions is a vertically integrated manufacturer of high-performance coated substrates (brands include ResinDek, ChromaLuxe, RDC Coatings, and Unisub) headquartered in Louisville, Kentucky. Apogee will integrate UW into its Large-Scale Optical segment to expand specialty coatings and materials capabilities, expecting ~$100 million revenue contribution in fiscal 2026 and ~$5 million of run-rate annual cost synergies by fiscal 2027.

Kian Capital-backed Team Air Distributing has acquired Best Choice Supply, a family-owned HVAC wholesale distributor with locations in Lexington and Somerset, Kentucky. The add-on expands Team Air’s parts and supplies offering, adds custom metal fabrication capabilities and deepens the platform’s presence in Kentucky and nearby regions; the combined platform will have roughly 200 employees and 12 branch locations.

Five Star Breaktime Solutions has acquired Top of the Line (TOTL) Food Service, a Louisville-based multi-route vending, micro-market and office coffee services provider founded by Tom Williams. The deal expands Five Star's footprint in Kentucky and transfers several TOTL employees to Five Star as the founder retires.

PCF Insurance Services, a top-20 U.S. insurance brokerage headquartered in Lindon, Utah, has acquired the insurance business of Kentucky Health Solutions in Lexington, Kentucky. The Kentucky Health Solutions team will join PCF’s Louisville-based Maverick Insurance Group to expand local service offerings and deepen PCF’s health, life and Medicare advisory capabilities in the region.

Kian Capital-backed PARC Auto has grown its Meineke Car Care Center platform from 15 to 35 locations since July 2023 through new store openings and four strategic acquisitions, making it the largest Meineke franchisee. The company, headquartered in Louisville, Kentucky, added a new COO and plans continued buy-and-build expansion across Florida, Indiana, Texas and the Portland, Oregon metro.

MEM Capital LLC of Greenwich, Connecticut has acquired Mountain Life Insurance Company and Kentucky Home Life Insurance Company; both carriers will continue to maintain their home offices and management team in Lexington, Kentucky. Mountain Life plans to begin offering annuity products, Jeff Breeze will remain President, and Benjamin Keslowitz will join as Board Chairman.

Knack Global, a tech-enabled provider of revenue cycle management (RCM) solutions, has acquired Merrick Management, Inc., a Lexington, Kentucky-based anesthesia-focused RCM and practice management firm. The deal expands Knack's specialty RCM capabilities into the anesthesia market and will fold Merrick's leadership into a new Anesthesia Services division while Knack continues to grow alongside investment partner LKCM Headwater.

Riot Platforms, Inc. acquired Kentucky-based Block Mining, Inc. for $92.5 million in a mix of cash and Riot common stock, with up to $32.5 million of additional earn-outs tied to future power purchase agreements. The deal adds 60 MW of operational capacity (with near-term expansion to ~110 MW and a pipeline to 300+ MW), immediately increases Riot's self-mining hash rate by ~1 EH/s, and expands Riot's geographic footprint into Kentucky.

Quad Capital Partners, a private investment firm focused on middle-market manufacturing companies, has acquired Worldwide Technologies (WWT), a precision CNC machining and fabrication business with facilities in Franklin and Glasgow, Kentucky. The transaction provides QCP a flagship manufacturing platform with advanced automation and engineering capabilities; WWT employs more than 150 people and operates over 100 CNC machines.

AnewHealth has acquired HomeFree Pharmacy Services and will merge it with ExactCare to expand its suite of at-home pharmacy and medication management solutions. In connection with the transaction, The Vistria Group has made a minority investment in AnewHealth; Nautic Partners remains the controlling owner of AnewHealth.

UES, a national engineering and consulting firm based in Orlando, Florida, has acquired CSI (Consulting Services Incorporated), a Lexington, Kentucky-based geotechnical engineering, materials testing, and environmental services firm with an additional office in Cincinnati, Ohio. The acquisition brings CSI into UES's Midwest region to expand services and geographic coverage in Kentucky and Ohio; CSI's leadership will continue to operate day-to-day business.

Falfurrias Capital Partners has acquired a majority ownership stake in EDGE Industrial Technologies, a manufacturer of industrial machine knives, blades, and punches, from Blue Wolf Capital Partners. Falfurrias will appoint new board members and Josh Slagle as CEO while Blue Wolf retains a minority investment; the deal is intended to deepen EDGE's capabilities and accelerate growth in food processing, packaging, and related end markets.

RoadSafe Traffic Systems, Inc. acquired Site-Safe Products, LLC and its wholly owned subsidiary Innovative Access Solutions, LLC to expand its work zone safety product and service offerings across the Southern and Midwestern United States. The deals broaden RoadSafe’s traffic control footprint in those regions and mark the company’s 14th and 15th acquisitions since partnering with private equity firms Investcorp and Trilantic North America in 2021.

Flow Service Partners, a PE-backed commercial HVACR and plumbing platform, has acquired Dynamic Air Solutions, a Louisville-based commercial and industrial HVAC specialist. The add-on expands Flow's service capabilities and operational density in Kentucky and southern Indiana; financial terms were not disclosed.

Black Mountain Software, a Peterson Partners–backed provider of accounting and billing software for local governments, has acquired Fiscalsoft, a Kentucky-based maker of accounting and payroll software for local government entities. The undisclosed deal expands Black Mountain's local government ERP portfolio and marks its entry into the Kentucky market.

Highstreet Insurance Partners, a Traverse City, Michigan-based independent insurance brokerage, has acquired RISE Partners, a Louisville, Kentucky insurance agency. The deal (terms undisclosed) expands Highstreet’s footprint into Kentucky while RISE’s founder Mike Arnold will continue to lead the business under Highstreet’s ownership.

Capitol Pain Institute (CPI), a PE-backed interventional pain management platform, has acquired Pain Care Surgery of Louisville, an ambulatory surgical center (ASC) in Louisville, Kentucky. The deal — supported by CPI sponsor Iron Path Capital — expands CPI's ability to offer advanced, minimally invasive procedures in Kentucky and strengthens its regional ASC footprint.

West Physics Consulting, LLC has acquired the medical physics service division of Tricord, Inc., a Paducah, Kentucky-based provider of radiation safety, health, medical, industrial, and environmental physics services. The deal brings Tricord's medical clients into West Physics' national platform (expanding coverage in western Kentucky, southern Missouri, southern Illinois and Tennessee) while Tricord's president Steve Meiners will remain on a part-time consulting basis during the transition.

Unrivaled Sports has acquired YTH Sports, the operator of the Soccer Youth brand and the All‑American Series, bringing soccer programming into Unrivaled’s portfolio of youth sports properties. YTH Sports’ founder Scott Hacker and his team will join Unrivaled Sports as the company integrates the brand and its nationwide event series into Unrivaled’s platform.

Core & Main Inc. has entered into a definitive agreement to acquire substantially all assets of Geothermal Supply Company Inc. (GSC), a Kentucky-based distributor and fabricator of HDPE pipe serving geothermal, water and sewer markets. The acquisition expands Core & Main's fusible product offerings and adds specialized geothermal HDPE capabilities and customer relationships.

Affiliates of New Mountain Capital have made a strategic growth investment in The Rawlings Group, a La Grange, Kentucky–based coverage analytics and payment integrity provider for health insurers. The capital will support investments in AI, product development, talent, and expansion into new markets and capabilities while New Mountain partners with Rawlings' management team.

Indianapolis-based private equity firm CID Capital announced the merger of its portfolio companies Wiseway Supply (Florence, KY) and Park Supply (Huntsville, AL) to form a combined super-regional distributor of plumbing, electrical and lighting products. The consolidation creates a larger multi-location platform under CEO Mark Christie to capture distribution synergies, expand geographic reach, and support continued organic and acquisition growth.

Revelyst, a segment of Vista Outdoor Inc., has acquired PinSeeker, a Wasserman portfolio company and a leading off-course golf simulator competition app. PinSeeker will be integrated into Foresight Sports within Revelyst’s Precision Sports Technology platform and its team will relocate to San Diego to accelerate Revelyst’s software and tournament offerings for off-course golf.

Software Mind, part of the Ailleron Group, has acquired 100% of Prosoft LLC — owner of the number8 brand — for approximately $40.6 million, financed with company cash and a BNP Paribas loan. The acquisition adds ~330 IT specialists and strengthens Software Mind's presence and revenue exposure in the United States and the Americas, broadening its nearshore/onshore delivery capabilities.

Access Information Management has acquired Triyam, a Lexington, Kentucky-based software business that provides EHR data conversion, migration and archival solutions, to accelerate Access's entry into electronic health records and archival digital records management. Triyam will operate largely independently within Access' Digital Solutions business; financial terms were not disclosed.

Koppers Holdings, through its subsidiary Koppers Utility and Industrial Products Inc., signed an agreement to acquire substantially all assets of Brown Wood Preserving Company, Inc. for about $100 million in cash. Brown Wood, a Louisville, Kentucky-based manufacturer of pressure-treated utility poles with ~100 employees serving the Midwest and Southeast U.S., will be integrated into Koppers' Utility and Industrial Products business to expand capabilities and geographic reach.

Cintas Corporation has acquired SITEX, a family-owned uniform and facility service provider based in Henderson, Kentucky, with five locations serving a four-state region. The deal brings SITEX's customers and employees into Cintas' rental division as part of Cintas' strategy to expand its regional footprint and service capabilities.

EarthLink has acquired QX.net, a Lexington-based fixed wireless internet provider, to expand its business services and fixed wireless footprint in Kentucky. The acquisition adds QX.net's wireless network, employees and service capabilities (internet, voice, data center and SD-WAN) to EarthLink's portfolio and takes effect immediately.

W. Capra has acquired Impact 21 (Impact 21 Group, LLC) to create an end-to-end consulting and services business combining strategy, technology, operations, and transformation capabilities. The co-founders of Impact 21 will join W. Capra as partners, and the combined firm will be headquartered in Chicago, Illinois, with Impact 21 offices in Lexington, Kentucky and Tampa, Florida remaining open.

Worthington Enterprises has acquired an 80% ownership stake in an affiliate of HALO Products Group, adding HALO-branded pizza ovens, pellet grills, griddles and accessories to its consumer/outdoor-living portfolio. HALO is based in Elizabethtown, Kentucky, employs about 25 people and generated approximately $7 million in revenue in 2023; the deal is intended to expand Worthington's presence in the outdoor living segment and leverage its ecommerce, marketing and retail relationships to grow the HALO brand.

Thermal Technology Distribution Solutions (TTDS), a distribution platform backed by Gryphon Investors, has acquired Proheat Inc., a La Grange, Kentucky-based distributor of industrial heaters, sensors, controls and technical support for manufacturers. Proheat's management, including President and CEO Steven W. Button, will remain with the company and retain a significant equity stake; terms were not disclosed.

Innovative Office Products (IOP), a PE-backed manufacturer of ergonomic office and healthcare mounting solutions, has acquired Louisville-based CompuCaddy, a maker of medical computer carts and workstations. The deal will keep manufacturing in Louisville, retain CompuCaddy's brand and leadership in a consulting role, and supports IOP's expansion into the healthcare market.

Kindeva Drug Delivery, an operating company of healthcare investor Altaris, has acquired Summit Biosciences from its founding family shareholders. The acquisition adds Summit’s FDA- and EMA-approved 55,000 sq. ft. cGMP intranasal CDMO facility in Lexington, Kentucky, expanding Kindeva’s nasal drug‑delivery platform and global manufacturing footprint.