Acquisitions in Louisiana in 2020

GI Alliance announced a partnership with Metropolitan Gastroenterology Associates (MGA), the largest gastroenterology physician group in Louisiana, expanding GI Alliance's footprint in the state. The deal brings MGA's 26 gastroenterologists, 21 advanced practice providers and three New Orleans-area locations into GI Alliance's national physician-led network to strengthen local GI service delivery and care coordination.

BayMark Health Services (operating as BAART Programs in Louisiana) acquired Choices of Louisiana, a provider of three Opioid Treatment Programs (one in Alexandria and two in the New Orleans market). The acquisition expands BayMark's medication‑assisted treatment footprint in Louisiana, bringing its total OTP presence in the state to four clinics and integrating Choices' counseling and MAT services into the BAART network.

Petroleum Service Corporation (PSC), a portfolio company of Aurora Capital Partners, has signed an agreement to acquire certain assets of Fryoux Tankerman Service and will absorb Fryoux's shoreside tankerman operations along the U.S. Gulf Coast. The transaction expands PSC's Gulf Coast footprint and personnel capacity to better serve refineries, terminals and petrochemical customers; Jimmy Fryoux will join PSC's marine operations team as an advisor.

CRC Group has entered a definitive agreement to acquire the assets of Continental Underwriters, including Fidelis Marine Underwriters and Fidelis Claims Services. The deal expands CRC Group's specialty marine underwriting, cargo and inland marine capabilities and will fold Continental into CRC's Programs Division; terms were not disclosed.

Cameron Ashley Building Products, a portfolio company of Pacific Avenue Capital Partners, acquired Martin Distributors, a two-location distributor of lumber, roofing, gypsum and insulation based in Alexandria and Lafayette, Louisiana. The add-on expands Cameron Ashley's product offering (adding lumber and engineered wood) and provides the company entry into the Louisiana market; Martin's separate retail locations in Pineville and Minden were not part of the transaction.

EdgeCo Holdings, L.P. has entered into an agreement to bring New Orleans-based Goss Advisors (GWM Advisors LLC) into its wealth division, which includes the wealth management operations of Mid Atlantic Capital Group. The transaction, which will join Goss Advisors' ~100 independent-advisor platform and ~$8 billion in brokerage and advisory assets to EdgeCo, is expected to close before year-end and will retain Goss Advisors' executives and employees.

Clearview Capital Fund IV recapitalized Capitol Imaging Services, partnering with founder Dr. John Hamide and management to provide capital for organic growth and add-on acquisitions. Headquartered in Metairie, Louisiana, Capitol Imaging operates 20 freestanding outpatient diagnostic imaging centers offering MRI, CT and mammography; Dr. Hamide remains on the board and retains a meaningful equity stake while management continues to run day-to-day operations.

Sunpro Solar, a New Orleans-based top-five U.S. residential solar provider operating in 16 states with more than 1,700 employees, received growth capital investments from Compass Group Equity Partners, MGG Investment Group, TGP Investments and Millstone Capital Advisors. The minority investments will support Sunpro's continued growth and geographic expansion across North America; Lincoln International served as Sunpro's exclusive financial advisor.

10 Point Capital has made a growth equity investment in Walk-On's Sports Bistreaux to accelerate the restaurant chain's national expansion. The investment will fund an aggressive rollout — Walk-On's plans to open roughly 150 new locations over the next five years — though terms were not disclosed.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Personal Financial Advisors, LLC (PFA), a Covington, Louisiana-based wealth management firm. PFA serves roughly 140 clients with approximately $105 million in AUM; founder Robert J. Reed, Jr. and his staff will join Mercer as the firm establishes its first physical presence in Louisiana.

Brand Velocity Partners (BVP) acquired BBQGuys, the leading e-commerce retailer of premium grills and outdoor-living products, and affiliated manufacturer Blaze Outdoor Products. The transaction includes a group of strategic and institutional investors (including the Manning family and athlete investors) and WhiteHorse Capital provided term-loan financing and invested in the equity; BVP intends to apply its in-house marketing and brand resources to accelerate growth.

Hub International Limited acquired the assets of Todd & Associates, LLC, an independent insurance agency based in Lake Charles, Louisiana. The deal brings Louis Todd and his team into Hub Gulf South and expands Hub's presence in the Gulf South while strengthening its medical professional liability and specialty insurance capabilities.

Hub International Limited acquired the assets of Hollis Companies, L.L.C. and The Employee Benefits Corporation (TEBC), both based in Metairie, Louisiana. The firms provide employee benefits consulting, workplace-wellness plans and compliance guidance; Michael Hollis will join Hub Gulf South and report to Shaun Norris. Terms were not disclosed.

N. Harris Computer Corporation (Harris) acquired SourceGroup CBO, L.L.C, a Thibodaux, Louisiana–based medical billing software provider. The deal expands Harris Healthcare's revenue cycle management capabilities by adding SourceGroup into its Ultimate Billing group to strengthen service for CareTracker customers.

Platform Partners LLC completed a minority equity investment in Process Service Specialists, LLC (PSS), a specialty mechanical contractor and turnaround services provider headquartered in Gonzales, Louisiana. Platform partnered with strategic co-investors Bruce Ross (OFS Energy Fund), Adam Zylman (Grey Owl Partners) and Dave Fanta to support PSS's continued growth, infrastructure investment and capability expansion while co-founders Keith Harrison and Roy Stilley remain in leadership roles.

KLH Capital has completed a recapitalization of Insulations, Inc., partnering with founder and CEO David Branton and the company’s management team. Headquartered in New Orleans with 1,100+ employees and branches across the Gulf Coast, Insulations is an industrial contractor providing insulation, fireproofing, heat tracing, painting/coating, refractory, scaffolding and abatement services to LNG, refining, chemical, power and other industrial customers.

Sparks Holdings, Inc., an investment affiliate of Sparks Energy, Inc., acquired Echo Powerline, LLC, a Bunkie, Louisiana-based powerline construction and utility contractor. The deal expands Sparks' Gulf Coast market share and capabilities — Echo serves roughly 15 utility and government customers across Louisiana and Texas and will gain additional capacity and resources from Sparks.

BayMark Health Services, through its AppleGate Recovery division, has acquired Medication Assisted Recovery Centers (MARC), adding two office-based opioid treatment (OBOT) clinics in Metairie and Slidell, Louisiana. The acquisition expands AppleGate Recovery's footprint in Louisiana to eight clinics and brings MARC co-founder Dan Forman into AppleGate as a regional operations director.

Bernhard Capital Partners Management, LP led a group of investors in the acquisition of Ascension Wastewater Treatment (AWT), the largest privately owned sewer utility operator in Louisiana. The buyer committed a two-month customer rebate (~$1.5 million total) and plans to invest in sewer infrastructure and expand AWT’s service footprint to additional communities to improve resiliency and service delivery.

ORIX Capital Partners acquired a majority interest in Specialty Welding and Turnarounds, LLC (SWAT) from Hastings Equity Partners. SWAT, headquartered in Gonzales, Louisiana, provides specialty welding and highly technical turnaround services to refineries, petrochemical and industrial customers across the U.S.; Hastings and SWAT management remain minority shareholders and Cadence Bank led financing for the transaction.

Kian Capital Partners, alongside ParkSouth Ventures and management, completed a majority recapitalization of Enterprise Computing Services (ECS) and My IT, two Louisiana-based managed service providers. The investment will support the combined company's growth strategy — including pursuing additional acquisitions — and the combined organization will operate under the My IT brand.

Spectrio, a Tampa-based provider of in-store marketing solutions, acquired Profit On-Hold and Airwaves Scenting of Mandeville, Louisiana to expand its in-store marketing footprint across North America. The acquisition brings on-hold audio and scent-marketing capabilities into Spectrio’s suite, enabling cross-selling of digital signage, Wi‑Fi marketing, and other in-store technologies to the acquired customers.

Dallas-based private equity firm Latticework Capital Management announced a strategic investment in Beacon Behavioral Hospital, a Baton Rouge-based provider of inpatient and intensive outpatient mental health programs in Louisiana. The investment is intended to support Beacon’s growth and capability expansion as the company seeks to enhance services and add new solutions across its inpatient and outpatient network.

Austin-based private equity firm Cotton Creek Capital has acquired Bossier City, Louisiana-based Landpoint, LLC (including its subsidiaries King Surveyors and West Company of Midland). The investment will support Landpoint's management team to accelerate organic growth and pursue strategic add-on acquisitions; Landpoint operates nine offices across the South Central United States with approximately 250 employees and provides land surveying, aerial data collection, 3D laser scanning and GIS services to energy, utility and industrial clients.