Acquisitions in Maine in 2021

ZRG Partners has acquired Brimstone Consulting Group, a Camden, Maine-based boutique strategy and leadership consulting firm. The acquisition expands ZRG's talent advisory and consulting capabilities—adding Brimstone's expertise in leadership transitions, culture change, executive coaching, and post-merger execution.

SDS Rx, a last-mile healthcare logistics platform backed by HCI Equity Partners, acquired Mission Critical Delivery Solutions, a non-asset-based logistics management company based in Bangor, Maine. Patriot Capital provided subordinated debt and an equity co-investment to support the add-on acquisition, which expands SDS Rx’s geographic coverage and route density in the long-term care pharmacy market.

Arctic Glacier, a North American packaged-ice manufacturer and DSD distributor, has acquired Getchell Bros. Inc., a family- and veteran-owned packaged-ice and dry-ice producer operating facilities in Sanford and Bangor, Maine. The acquisition expands Arctic Glacier’s production and distribution capacity across New England, strengthening its ability to serve retail and commercial customers in the region.

Insurity has completed the acquisition of Maprisk, a Portland, Maine-based provider of geospatial data and analytics for property & casualty (P&C) carriers and MGAs. The deal expands Insurity's cloud-based geospatial analytic capabilities into the personal lines market and integrates Maprisk's API and web-platform data delivery across Insurity's policy lifecycle solutions.

ARCH Cutting Tools Corp., an ARCH Global Precision Company, has acquired CONTOUR360 of Cornish, Maine. The acquisition adds CONTOUR360’s engineered solid round cutting tool and custom tooling capabilities to ARCH’s national custom and specials offering as an add-on to its platform.

Baltimore-based Tilley Company, a portfolio company of SK Capital Partners, has acquired Ingredients Solutions Incorporated (ISI), a Waldo, Maine-based distributor and blender of specialty hydrocolloids. The deal expands Tilley's food- and personal-care ingredient portfolio and brings ISI's R&D, blending and technical application capabilities into the Tilley platform.

North Haven Capital, a family-office backed private investment group based in Portland, Maine, has acquired New England-based Interstate Fire Protection. The deal, completed with support from BankProv and advised by Copper Run Capital, positions North Haven to expand Interstate's geographic footprint, product offerings and target end markets nationally.

Genstar Capital signed a definitive agreement to acquire a majority stake in Foreside Financial Group from Lovell Minnick Partners. The transaction gives Genstar control of Foreside, a Portland, Maine–based provider of distribution and governance, risk and compliance (GRC) solutions to asset and wealth managers, to support growth and broaden Foreside's products and services.

Miner Ltd., the docks and doors division of OnPoint Group, has closed the acquisition of Dock & Door Handling Systems, a New England loading dock and commercial door provider headquartered in Saco, Maine. The deal expands Miner's geographic footprint in the Northeast and provides Dock & Door customers access to Miner's nationwide service network and value-added services.

Strait Lane Capital Partners, a Dallas-based family-owned private investment firm, has acquired TTI Sports International, Ltd., a Portland, Maine-headquartered manufacturer of premium felt for the global tennis-ball market. The deal was financed with equity from Strait Lane families and investors and senior debt from East West Bank; Strait Lane plans to support a >30% expansion of TTI's manufacturing capacity to meet growing demand in tennis and emerging sports like padel.

Covenant Health has signed a definitive agreement to acquire Bangor Nursing & Rehabilitation Center, bringing the independent not-for-profit facility into Covenant's regional Catholic health system. The deal—pending approval from the Maine Department of Health and Human Services—will make Bangor Nursing a sponsored member of Covenant Health while maintaining its not-for-profit status and community-led board guidance.

LSI Industries (NASDAQ: LYTS) acquired Maine-based JSI Store Fixtures from RFE Investment Partners in an all-cash transaction valued at $90 million. The deal expands LSI's product offering and presence in the grocery, convenience and specialty store verticals, and brings JSI's more than 300 employees and four North American facilities into LSI's graphics segment.

BBG, a national commercial real estate valuation and assessment firm headquartered in Dallas, has acquired Mach-8 Consulting, a York, Maine–based due diligence services firm specializing in HUD-insured property assessments. Terms were not disclosed; Mach-8 founder Blaine Bauman joins BBG as Senior Managing Director to lead a new HUD-insured assessment specialty practice, expanding BBG's bundled due-diligence capabilities.

Guild Holdings Company (Guild) entered into a definitive agreement to acquire Residential Mortgage Services Holdings, Inc. (RMS), a fast-growing retail mortgage originator focused in the Northeast. The deal (estimated initial purchase price of $196.7 million based on March 31, 2021 tangible book value, plus a three-year earnout) is expected to be accretive to 2021 EPS and to close in Q3 2021, subject to customary approvals.

Service Experts Heating & Air Conditioning LLC acquired substantially all assets of Pine State Services, Inc., a residential HVAC, plumbing and electrical company based in Portland, Maine. The deal adds about 70 employees and 50 service vehicles, expanding Service Experts' Northeast footprint as part of the Enercare (Brookfield Infrastructure) family of home services brands.

T-street Capital completed a growth equity investment in Hyperlite Mountain Gear to support the ultralight backcountry brand’s accelerated domestic and international growth. Hyperlite, founded in Maine in 2010, will partner with T-street to expand product offerings and scale distribution while founders remain involved.

Camping World Holdings, Inc. has signed an agreement to acquire Lee's Family Trailer in Windham, Maine, marking Camping World's first location in the state. The acquisition—expected to close in April 2021—advances Camping World's goal of operating a recreational dealer platform across all 48 contiguous U.S. states.

Lindenmeyr Munroe, a division of Central National Gottesman (CNG), has acquired Portland-based Maine Shipping and Packaging Supply to expand its presence in the Maine market and broaden its packaging offerings. Jeff Bryant, president of Maine Shipping and Packaging Supply, will join Lindenmeyr Munroe in a senior sales role along with his team.

Alliant Insurance Services has acquired Seafax, Inc., a provider of credit information and accounts receivable management services with a long history in the food industry and expansion into other verticals. The acquisition bolsters Alliant’s Trade Credit capabilities by adding Seafax’s credit reporting, monitoring, and collections expertise to its suite of services; terms were not disclosed.