Acquisitions in Louisiana in 2023

Ambassador Supply, a Fort Wayne, Indiana–based investment and management company in the residential and commercial construction sector, has acquired Ideal Steel, a Broussard, Louisiana manufacturer of components and pre-engineered steel buildings founded in 2002. The acquisition expands Ambassador Supply's portfolio and provides Ideal Steel with broader market access and collaboration opportunities; financial terms were not disclosed.

CF Industries Holdings, Inc. completed the acquisition of Incitec Pivot Limited's Waggaman, Louisiana ammonia production facility and related assets for $1.675 billion, with approximately $425 million allocated to a long-term ammonia offtake agreement. CF Industries will supply up to 200,000 tons per year to IPL’s Dyno Nobel business, expects operational and logistics optimization from integrating the site, and plans to accelerate carbon capture and sequestration projects to increase low‑carbon ammonia production.

Arthur J. Gallagher & Co. has completed the acquisition of Cadence Insurance, Inc., a Baton Rouge–headquartered insurance subsidiary of Cadence Bank. As part of the transaction, Gallagher will become the preferred insurance broking partner of Cadence Bank, expanding its distribution and insurance capabilities.

C3 Integrated Solutions and Ingalls Information Security announced a merger in which C3 will integrate Ingalls' cybersecurity capabilities—including SOC, MDR/MXDR, and DFIR—into its compliance-focused managed services for the U.S. Defense Industrial Base. The deal brings Ingalls' DoD and defense-focused cyber expertise and leadership (Jason Ingalls becomes C3's Chief Cybersecurity Officer) to strengthen C3's IT, cybersecurity, and CMMC compliance offerings.

Fox Factory Holding Corp. completed the acquisition of Wheelhouse Holdings, Inc., the parent of Marucci Sports LLC, from Compass Diversified for an enterprise value of $572 million. The deal, which closed in November 2023, brings Marucci's premium baseball and softball brands into FOX's Specialty Sports Group to drive revenue diversification, engineering and sourcing synergies, and expanded end-market reach.

JET Infrastructure acquired five fuel terminals from International-Matex Tank Terminals (IMTT), expanding the company's presence into Georgia, Alabama and New Mexico and increasing capacity and connectivity for aviation fuel and biofuels in the U.S. Southeast. The deal brings JET's portfolio to 12 assets with more than 2.1 million barrels of storage capacity and a network of 145 miles of pipeline; the terminals were sold by IMTT, which is headquartered in New Orleans, Louisiana.

A fund managed by Macquarie Asset Management has agreed to make a structured equity investment in SwyftFiber (CableSouth Media III d/b/a SwyftFiber / SwyftConnect). The investment will support accelerated construction of fiber infrastructure and expansion into existing and new markets across Louisiana, Mississippi and Arkansas, with a focus on underserved communities and programs such as Louisiana GUMBO and FCC RDOF.

Elevator Service LLC (ESI), backed by Carroll Capital, completed an add-on investment in A-1 Elevator Service and Pinnacle Elevator, two independent elevator service providers in the New Orleans metropolitan area. The transaction expands ESI's platform into the Southeast (its tenth market) and aims to drive regional density, capability improvements, and continued growth through enhanced technology, sales, and operational support.

Environmental Systems Group, a Bernhard Capital Partners-backed environmental services platform, has acquired ELOS Environmental, a Hammond, Louisiana-based environmental consulting firm. Financial terms were not disclosed; the add-on expands Environmental Systems Group’s consulting, GIS, and waste management capabilities and strengthens its Gulf Coast geographic presence.

Aditi Consulting has acquired Resolvit Resources, a New Orleans–based technology and management solutions provider, to expand Aditi's nearshore delivery footprint in Latin America and broaden its cyber security, DevOps, cloud/IoT and application modernization capabilities. Transaction terms were not disclosed; Brown Gibbons Lang & Company served as financial advisor to Resolvit while Fairmount Partners advised Aditi.

Merchants & Marine Bancorp, Inc. (MNMB) signed a definitive agreement to acquire Mississippi River Bank, a Belle Chasse, Louisiana-based community bank with approximately $127.7 million in assets. Mississippi River Bank will continue to operate under its existing brand as a division of Merchants & Marine Bank; the target's CEO Mike Bush and President/COO Lisa Works will remain in their roles. The acquisition is subject to shareholder and regulatory approvals and is expected to close in Q1 2024.

World Insurance Associates LLC acquired the business of Ellsworth Corporation of Metairie, Louisiana on September 1, 2023. The deal expands World’s insurance brokerage capabilities with Ellsworth’s specialties in surety & bonding, commercial marine, oil & gas insurance programs, construction bonds and workforce health benefits.

GS Foods Group, owned by affiliates of Highview Capital and A&M Capital Partners, has acquired Lamm Food Service, a full-line food distributor headquartered in Lafayette, Louisiana. The deal brings Lamm’s leadership and staff into the GS Foods family and is intended to strengthen GS Foods’ operations and expand its footprint in the Southeast, particularly in institutional channels such as K-12 and corrections.

Valsoft Corporation has acquired JBL Solutions, an industry-specific SaaS publisher serving distribution and light fabrication customers; the transaction closed on September 13, 2023. JBL Solutions, based in Baton Rouge, Louisiana, serves 225+ active accounts (with ~60% repeat business); Valsoft will integrate the business into its portfolio of vertical-market software companies to expand its industrial ERP offerings.

Alera Group has acquired jweinland Group Benefits, a Shreveport-based full-service employee benefits firm that specializes in group benefits and self-funded insurance plans. The deal expands Alera Group’s employee benefits capabilities and footprint in Louisiana; jweinland’s team will continue serving clients in their existing roles and terms were not disclosed.

Simplicity Group Holdings, Inc. announced the acquisition of Hancock Brokerage, a Metairie, Louisiana-based life insurance brokerage led by Susan Cimini, who becomes a Simplicity partner. The deal brings Hancock's life insurance, annuity and life-settlement capabilities onto Simplicity's platform and is intended to expand the firm's product offering and distribution resources for advisors and agents.

Funds managed by Maritime Partners, LLC (through newly-formed Project Merchant Acquisition LLC) agreed to buy American Tanker Holding Company, Inc. (ATHC), AMSC ASA's Jones Act tanker business, for aggregate gross cash proceeds to AMSC of US$249.3 million (enterprise value reported at US$746.7 million). ATHC owns nine handysize product tankers and one handysize shuttle tanker on long-term bareboat charters to Overseas Shipholding Group and Keystone Shipping; the deal is intended to complement Maritime Partners' existing vessel-lease portfolio and diversify lessee and asset exposure in the protected Jones Act market.

American Integration Contractors, LLC (AIC), a Louisiana-based systems integrator, has acquired the assets of Accel Protection and Technologies, LLC (Accel), a community-focused electronic security and life-safety integrator based in Breaux Bridge, Louisiana. The transaction combines the customer bases and technical capabilities of the two firms to expand AIC's services across the Gulf Coast and strengthen its systems integration offerings for public safety, commercial and governmental customers.

U.S. Orthopaedic Partners (USOP) announced the acquisition of Orthopaedic Associates of New Orleans (OANO) and Mid State Orthopaedic & Sports Medicine Center (Mid State), adding eight locations and expanding USOP's Southeastern network. The transactions expand USOP's clinical capabilities in joint replacement and sports medicine and increase its presence in Louisiana.

Nidec Corporation, through its subsidiary Nidec Motor Corporation, acquired full ownership of TAR, LLC d/b/a Houma Armature Works, a US-based motor and generator remanufacturing and field service provider. The acquisition expands Nidec's aftermarket and service capabilities in North America—particularly in oil & gas, marine, and renewable energy end markets—and consolidates Houma as a Nidec subsidiary.

Compass Group Equity Partners has partnered with Hoist & Crane Service Group, making HCSG the fifth platform in Compass Group’s Fund II. Hoist & Crane Service Group is a national provider of inspection, preventative maintenance and repair services for overhead cranes & hoists, industrial elevators, and overhead doors; the company operates 26 locations with 500+ employees and serves over 1,800 customers. Compass Group plans to invest in new locations, people and technology and expand the company’s industrial elevator and overhead door capabilities.

Pye-Barker Fire & Safety has acquired Acadiana Security Plus, a Lafayette-based provider of security, access control, video verification and fire alarm systems. The acquisition expands Pye-Barker’s footprint into Louisiana (its 37th state) and adds a local team of NICET-certified technicians and roughly 85 employees serving commercial and government customers.

DartPoints has acquired Venyu, adding three carrier‑neutral data centers in Baton Rouge and Shreveport and expanding its portfolio to 11 data centers across 10 U.S. markets. Lafayette Square provided financing to support the transaction; Venyu was previously owned by REV (its former parent company).

GrowthCurve Capital, a private equity firm, has acquired Netchex, a cloud-based human capital management (HCM) and payroll software provider, from affiliates of Primus Capital. The investment will support Netchex’s AI and data analytics strategy, new product development, and expansion into new markets; financial terms were not disclosed.

Cherry Bekaert has acquired Legier & Company, a boutique forensic and litigation consulting firm based in New Orleans, to expand its forensic accounting and dispute advisory capabilities. The acquisition adds a New Orleans office and brings Legier's expertise in forensic accounting, business interruption analysis, expert witness testimony, and dispute advisory into Cherry Bekaert's service portfolio.

Optum has submitted an all-cash proposal to acquire Amedisys for $100 per share (a roughly 26% premium), aiming to combine Amedisys' home health, hospice and high-acuity capabilities with Optum's value-based care expertise. The proposal is all-cash, with no financing contingency, and is presented as providing full and certain value to Amedisys shareholders.

Storewise, backed by Nexa Equity, has acquired MarginMAX to integrate vendor management and DSD pricing capabilities into its retail automation platform for independent grocers. The MarginMAX management team will join Storewise as the acquisition expands the platform’s visibility into store operations and strengthens pricing optimization across wholesaler and direct store delivery items; financial terms were not disclosed.

Water Engineering, a portfolio company of Nolan Capital, has acquired Delta Chemical Corp., a Jefferson, Louisiana–based provider of water treatment chemicals, equipment, consultation and preventative maintenance services. Delta's owners, Ross Heidingsfelder and Lee Mauberret, will remain with the business as it joins the WEI platform to expand the platform's footprint and continue WEI's consolidation strategy in water treatment services.

Bishop Lifting, a portfolio company of Altamont Capital Partners, acquired General Work Products in an add-on deal that expands Bishop's geographic footprint into California and extends reach in New York, Louisiana, and Texas. Stellus Capital Management provided unitranche financing and an equity co-investment to support the transaction; General Work Products will retain its branding and teams across five existing locations.

The Facilities Group, a platform backed by Greenbriar Equity Group and Revolent Capital Solutions, has acquired Red River Sanitors, a regional janitorial and facility services provider headquartered in Shreveport, Louisiana. The add-on expands The Facilities Group’s footprint and service offering in the Gulf Coast region and continues the platform’s roll-up strategy of local and regional facility maintenance companies.

Transportation Infrastructure Partners, a joint venture between Ridgewood Infrastructure and Savage, has acquired The Dupuy Group, a near‑port logistics and intermodal infrastructure provider serving major U.S. ports. The acquisition expands the JV's U.S. port and terminal footprint (complementing prior purchases of Carolina Marine Terminal and Nassau Terminals), and is intended to enhance service capabilities and realize synergies across the partners' port and terminal network.

C&S Chemicals has acquired Southwest Engineers (SWE), a Slidell, Louisiana-based provider of technical services, chemical products, and equipment for industrial water treatment. SWE will operate as a sub-platform within C&S to expand the company's industrial water treatment capabilities and execute future add-on acquisitions.

Alliant Insurance Services has acquired KnowledgeVine LLC, a provider of Human Performance Improvement (HPI) technology and safety training, to augment Alliant's risk reduction and loss-control offerings. KnowledgeVine and its team will join Alliant and continue to service clients from its headquarters in Zachary, Louisiana, with its REMEDY Learning System and STAR Driver programs being made available to Alliant customers in energy, utilities and construction.

CoLaTenTex, LLC, a private investment firm, has acquired Ecoserv, LLC, a provider of integrated waste sequestration and offshore cleaning services to the oil & gas exploration and production (E&P) industry. Brown Gibbons Lang & Company served as exclusive financial advisor to Ecoserv; terms of the transaction were not disclosed.

Carson Group (through its Carson Wealth business) announced the full acquisition of The Shobe Financial Group, a 16-person wealth management and financial planning firm in Baton Rouge, Louisiana that manages over $500 million in client assets. The deal provides a succession solution for the Shobe team while integrating the office as a wholly owned Carson Wealth location to access Carson's resources and support future growth.

Lee Equity Partners formed a new national cardiovascular platform, Cardiovascular Logistics, and acquired Cardiovascular Institute of the South (CIS). Comvest Credit Partners acted as joint lead arranger on a senior secured credit facility to support the acquisition and the platform’s organic and inorganic growth.

Hub International Limited acquired the assets of Dwight W. Andrus Insurance Inc., Dwight Andrus & Richard Insurance, Inc., and DAI Shreve, LLC, expanding its commercial, personal and employee benefits capabilities in Louisiana. The acquired business — one of the largest independent agencies in the U.S. with ~130 employees and headquartered in Lafayette, Louisiana — will join Hub Gulf South to bolster Hub's presence across the Gulf South region.

Atlanta-based West Physics Consulting, LLC has acquired Enterprise Physics, LLC, a Slidell, Louisiana–based provider of diagnostic medical and health physics services. The deal expands West Physics’ client footprint in Louisiana and Mississippi and transitions Enterprise Physics’ owner, Dr. James Terry, into a part-time role ahead of his planned retirement.

FranchiCzar has acquired upscale paint-and-sip franchise Pinot's Palette, bringing the combined portfolio to over 100 franchise locations across the United States and Canada. Founders Craig Ceccanti, Charles Willis and Beth Willis have handed the brand to FranchiCzar leadership, with Shauna Garner named brand president and David Graham serving as CEO to drive further growth.

LEMOINE, a Bernhard Capital Partners portfolio company, has acquired Macro Companies, a nearly 100-year-old emergency fuel and water supplier based in Broussard, Louisiana. Macro will remain headquartered in Broussard with its leadership team in place; the acquisition expands LEMOINE's disaster response and emergency logistics capabilities. Financial terms were not disclosed.

Motion & Control Enterprises (MCE), a supplier of fluid power, flow control and automation solutions, has acquired Precision Pump & Valve (PPV), a Lake Charles, Louisiana-based distributor and remanufacturer of safety relief and control valves and pumps. The acquisition expands MCE's valve repair and remanufacturing capabilities and extends its geographic footprint across Louisiana, Texas and Ohio; Frontenac is the private equity partner associated with MCE.

PCF Insurance Services, a top-20 U.S. insurance brokerage headquartered in Lehi, Utah, has acquired Oak Point Risk Advisors, a Louisiana-based niche risk management and commercial insurance agency serving maritime, oil & gas, and construction clients along the Gulf Coast. Oak Point will join PCF’s Agency Partner network to expand PCF’s capabilities and coverage offerings for hazardous-industry clients; terms were not disclosed.

Vital Care Infusion Services acquired Gem Drugs, Inc., a provider of home infusion and in-home IVIG services serving the Reserve, Louisiana area. The deal, facilitated by Benchmark International, was driven by Vital Care's strategic expansion of its franchise network to increase local access to infusion therapy.

Cotton Creek Capital has sold Gonzales, Louisiana-based Vecta Environmental Services, a provider of industrial and environmental services, following a multi-year partnership that grew Vecta from three locations to eight and materially increased revenue and earnings. The business was acquired by Silver Oak Services Partners (recapitalization/ownership change), with Cotton Creek and Vecta advised by Brown, Gibbons, Lang & Company and Greenberg Traurig respectively.

Elevance Health has entered into a definitive agreement to acquire Blue Cross and Blue Shield of Louisiana (BCBSLA). The transaction will integrate BCBSLA into Elevance's Anthem Blue Cross Blue Shield family, keep the Louisiana headquarters and workforce local, and expand Elevance's capabilities and footprint in Louisiana.

The IMA Group’s clinical research division, IMA Clinical Research, has acquired Clinical Trials of America (CTA), adding 10 site locations (four independent and six embedded) and expanding IMA’s reach in Louisiana and North Carolina. CTA will continue to operate under existing leadership, and the deal increases IMA’s clinical network and therapeutic capabilities to better serve sponsors and CROs; terms were not disclosed.

Atlas-SSI, a leading North American manufacturer of traveling water screens and bulk material handling equipment, has acquired Cooling Tower Valves and Screens LLC, a Baton Rouge-based maker of Vari-Flow stainless-steel traveling sump screens and specialty flow control valves. The deal expands Atlas-SSI's product portfolio and capabilities for industrial cooling towers, enabling broader distribution and integration of CTVS's screens and valves into Atlas-SSI's service and manufacturing platform.

CES Power, a portfolio company backed by Allied Industrial Partners, acquired Global Power Systems, a provider of mobile power generation and temperature control services operating in Louisiana, Georgia and North Carolina. The add-on expands CES Power's presence in the Southeast and strengthens its position in the studio power and HVAC space for the film and television industry.