Acquisitions in Maine in 2024

Wealth Enhancement has acquired VanceGray Wealth Management, an independent RIA that oversees over $409 million in client assets and maintains locations in Bangor and Ellsworth, Maine. The acquisition closed on December 31, 2024, establishes Wealth Enhancement's first location in Maine and increases the firm's total client assets to more than $102.1 billion. The VanceGray team of four advisors and six support staff will join Wealth Enhancement.

Mosaic, through its Living Innovations service, has acquired Momentum, a Maine behavioral health provider that delivers shared living and community-based services for people with intellectual and developmental disabilities. The deal brings Momentum into the Living Innovations/Mosaic network, expanding service reach across Maine, New Hampshire, Rhode Island and Connecticut and aiming to provide greater long-term stability and resources for Momentum's programs and workforce.

Modern America Campgrounds, the largest RV park owner in the Northeast, acquired Thomas Point Beach & Campground, an 80-acre oceanside park in Brunswick, Maine that had been family-owned since 1956. The buyer plans upgrades and expects the park to be open by mid-May 2025; the acquisition expands Modern America's portfolio as it targets 33 parks by next season.

Amuze, a national arcade and amusement solutions company backed by Surge Private Equity, has acquired Ferris Music Service, Inc. and its ATM division Mainely ATMs to strengthen its presence in Maine. The acquisition—financed by WhiteHorse Capital—adds Ferris's more than 1,200 amusement games and 240 ATMs to Amuze's network and will be integrated with Amuze's operating brands including Bar Partners.

Paper Trails, a Maine-based payroll and HR services provider, has acquired Local Economy Payroll of Portland, Maine as founders Tom Gangewer and Jim Belanger retire. The two Local Economy employees will join Paper Trails to ensure a seamless transition for clients and continuity of payroll and HR services across Maine and New England.

Centerbridge Partners has agreed to acquire Precinmac LP, a precision components manufacturer serving aerospace, defense, space and semiconductor equipment markets, from an investor group including Pine Island Capital Partners, Bain Capital's Private Credit Group and Compass Partners Capital. The transaction, announced Oct. 14, 2024, is expected to close in Q4 2024 (reported closed Dec. 2, 2024 by some sources); financial terms were not disclosed.

NCWB, LLC, an acquisition vehicle formed by entrepreneurs Ron and Peggy Davis, purchased family-owned North Country Wind Bells, Inc. The deal closed October 11, 2024, and transfers ownership of the Round Pond, Maine-based maker of American-made recycled-steel wind bells to the new owners.

Fidelity Building Services Group, a Hunt Valley, Maryland-based provider of HVAC, building automation, and energy solutions, has acquired Nason Mechanical Systems, a full-service mechanical contractor headquartered in Auburn, Maine. The acquisition expands Fidelity’s Northeast footprint and strengthens its HVAC/mechanical, plumbing, and energy-efficiency service capabilities across healthcare, education, industrial, and commercial end markets.

Dexter Paine has completed his acquisition of the ECHL’s Maine Mariners from Comcast Spectacor, with the transaction approved by the ECHL Board of Governors. Paine will serve as the team’s Governor while Adam Goldberg is promoted to CEO; the new ownership emphasizes local ties and plans to support the team and fan engagement for the 2024–25 season.

EnviroServe Inc., a national environmental and waste management provider and portfolio company of One Rock Capital Partners, has acquired Environmental Projects, Inc. (EPI), a Maine-based environmental remediation and waste management services provider headquartered in Auburn, Maine. The acquisition is an add-on to the EnviroServe platform that establishes the company’s strategic presence in New England and expands its nationwide network of remediation and waste-handling capabilities.

Sila Services, a multi-brand home services platform, has acquired Dave's World, a Maine-based heat pump installer with more than 20 years of experience and over 11,000 installations across six locations. The add-on expands Sila's New England footprint and strengthens its residential heat-pump installation and home-comfort capabilities in Maine.

Risk Strategies, a North American specialty insurance brokerage, has acquired The Baker Benefit Group, LLC (BBG), a boutique firm focused on designing and servicing Individual Disability Insurance (IDI) and ancillary executive benefits for large employer clients. The acquisition expands Risk Strategies' executive/ancillary benefits capabilities and deepens its service offering for large employer groups primarily in the Northeast.

Stake, the loyalty company for the rental economy, acquired rent payments platform Circa for $9.5 million in cash and stock. The deal integrates Circa’s payments technology and collections capabilities (branded Get Current) into Stake’s renter banking, loyalty, and incentive platform to deliver no-fee rent payments with instant Cash Back and industry-first delinquency management.

Onfolio Holdings Inc. has entered into an agreement to acquire a 66% majority interest in the assets of SEO Marketing Inc., which does business as DDS Rank, with Onfolio's special purpose vehicle (Onfolio Agency SPV LLC) taking the remaining minority stake. DDS Rank, a dental-focused digital marketing and SEO provider based in Hampden, Maine, generated roughly $310,000 in 2023 revenue (approximately 91% recurring) and was acquired for $600,000; Onfolio expects to materially grow revenue and EBITDA through marketing and operational improvements.

Heritage Links, a division of Little Rock-based Lexicon, Inc., has acquired Environmental Solutions, a Maine-based golf course irrigation, drainage, site design, and construction firm. The deal expands Heritage Links’ geographic footprint and technical capabilities in golf course construction and maintenance; terms were not disclosed.

Everon (formerly ADT Commercial) acquired all outstanding stock of Portland Safe, Inc., a Maine-based authorized dealer and service provider of NCR ATMs and ITMs. The purchase, sold by co-owners Brian Sevit and John Fecteau, expands Everon's commercial security footprint and customer base across Maine and New Hampshire; Portland Safe's co-owner Brian Sevit will remain to help lead the business under Everon's ownership.

Eberl Claims Service has acquired Colonial Adjustment, Inc., a New England–focused independent adjusting firm, effective March 15, 2024. The deal expands Eberl's national footprint with an emphasis on the Northeast and provides Colonial access to Eberl's technology, training resources and wider adjuster/repair network.

Senske Services has acquired Turf Doctor, a professional lawn care and pest control provider based in Augusta, Maine. Turf Doctor — founded by Michael Russo in 1997 — will continue operating under its brand as part of Senske’s Blades of Green division as Senske expands its northeast footprint.

Autoagent Data Solutions has acquired MuniciPAY to expand its municipal payment gateway and consolidate incoming revenue solutions for county and local governments. The deal broadens Autoagent's citizen payment capabilities across utilities, parking, DMV fees and other municipal payments; Stella Point Capital, Autoagent’s majority equity investor since 2021, commented on the strategic fit.

Destination Pet, a national pet-resort and veterinary platform, has acquired Roscoe's Bed + Bark, a Portland, Maine-based dog daycare, boarding and grooming operator. Madison Street Capital advised Roscoe's Bed + Bark on the undisclosed transaction as Roscoe's joins Destination Pet's nationwide network to expand its pet care footprint.