Acquisitions in Maine in 2019

JackRabbit, an omnichannel specialty athletic retailer owned by CriticalPoint Capital, acquired certain assets and liabilities of Olympia Sports — including its online presence and the "Olympia Sports" brand. The deal is an add-on to JackRabbit’s business that expands its brick-and-mortar footprint and e-commerce capabilities in the U.S. Northeast; the consolidated company will operate roughly 135 stores following the transaction.

Double E Company LLC, a portfolio company of River Associates Investments, acquired Schlumpf, Inc., a Windham, Maine-based manufacturer of roll and shaft material-handling equipment, in a transaction that closed September 20, 2019. The add-on expands Double E’s engineered roll- and shaft-handling product offerings and leverages Double E’s worldwide direct sales force to drive growth; terms were not disclosed.

Audax Private Equity acquired a controlling interest in Stonewall Kitchen, a York, Maine-based premium specialty food producer, from Centre Partners. Audax said it will support Stonewall Kitchen’s growth and buy-and-build strategy while existing management, including CEO John Stiker, remain in place; financial terms were not disclosed.

Capital One agreed to acquire BlueTarp Financial from private equity owner Long Ridge Equity Partners in a deal announced in mid‑2019 and expected to close in Q3 2019. The acquisition expands Capital One’s B2B trade‑credit and servicing capabilities by bringing BlueTarp’s credit management and trade‑credit platform and client relationships (including building‑products distribution) into Capital One.

Alleghany Capital Corporation formed a new holding company, Precision Cutting Technologies, and Precision acquired a majority interest in Coastal Industrial Distributors, LLC (d/b/a CID Performance Tooling), a Saco, Maine-based manufacturer of high-performance solid carbide end mills. The move consolidates Alleghany Capital’s machine tool and consumable cutting tool businesses under a single platform to share resources and expand capabilities and end-market reach in aerospace, defense, and medical sectors.

Funds managed by SDC Capital Partners, LLC will invest up to $100 million in telecommunications infrastructure services firm Tilson to support nationwide network design-build growth and to enable the spin-out and capitalization of Tilson’s asset-ownership affiliate SQF, LLC. The capital will accelerate Tilson’s expansion in small-cell and 5G infrastructure deployment and strengthen its asset ownership capabilities through SQF.