Acquisitions in Maryland in 2018

Anne Arundel Dermatology Management (ADM), a portfolio company of NMS Capital, has affiliated with Rock Creek Dermatology and Skin Cancer Center LLC, a two-clinic dermatology practice serving Silver Spring and Urbana, Maryland. The affiliation makes Rock Creek part of ADM’s platform—bringing administrative, IT, revenue cycle, and clinical support—while Dr. Meghan Mitchell will continue to lead the practice as part of ADM’s expanding Maryland footprint.

London-based Ascential plc acquired Flywheel Digital LLC, a Baltimore- and Seattle-based e-commerce services and software provider, for $60 million cash upfront with earn-outs of up to $400 million over three years. Flywheel—which offers managed services, software and marketplace expertise to consumer-packaged-goods brands selling on Amazon—will join Ascential's digital marketing/sales division and report to CEO Duncan Painter.

Kimball, a brand unit of Kimball International, signed a definitive agreement to acquire substantially all assets of David Edward, a Baltimore-based contract furniture designer and manufacturer. The asset purchase includes leasing two production facilities and the approximately 170 employees; Kimball said the acquisition will expand its seating and ancillary furniture capabilities and is expected to be accretive over time.

Pella Mid-Atlantic has acquired K.C. Company, a Beltsville, Maryland-based independent distributor of Pella windows and doors, from sole shareholder Kevin Cassidy. The acquisition expands Pella Mid-Atlantic’s regional footprint and combines K.C. Company’s showroom, sales and installation capabilities with the buyer’s existing Mid-Atlantic operations.

AssuredPartners, Inc. has acquired the employee benefits business of Bluepoint Financial, LLC (formerly Schaefer Financial Group) based in Bethesda, Maryland. The Bluepoint team, led by Marc Schaefer and Brian Hutt, will remain in place as AssuredPartners expands its employee benefits presence in the Washington, D.C. area.

Consolo Services Group, a Lexington, Kentucky-based provider of SaaS health IT solutions for hospice and palliative care, has acquired ADS Data Systems, a Stevenson, Maryland-based SaaS provider of adult day care software and services. The acquisition will allow Consolo to expand its post-acute care footprint by leveraging ADS's cloud-based platform while ADS's management and staff remain in place; Consolo had previously received a strategic investment from private equity firm Bluff Point Associates.

New Capital Partners, a Birmingham-based private equity firm, has acquired Collect Rx, a Bethesda, Maryland–based revenue cycle management (RCM) provider. The deal (terms undisclosed) will leverage NCP's healthcare experience to broaden Collect Rx's customer base, enhance service lines and scale the business; Oxford Finance served as lender and Berkery Noyes advised Collect Rx.

Source Capital, LLC, a lower middle-market private equity firm, has acquired M&M Refrigeration, LLC, a Federalsburg, Maryland-based designer, manufacturer and servicer of industrial refrigeration systems for cold storage, food processing and other industrial applications. Terms were not disclosed; Source Capital said it will partner with M&M's management to grow the business while honoring the company's core values, and founder Dufferin McConnell commented on the ownership transition.

Gemini Investors, a Massachusetts-based private equity firm, has acquired Perma-Patch, Inc., a Baltimore-based manufacturer of cold patch asphalt repair material. Chesapeake Corporate Advisors served as exclusive financial advisor to Perma-Patch, and the transaction provides an exit for the company’s shareholders while positioning Perma-Patch for operational improvement under Gemini's ownership.

Directed, a division of DEI Holdings, has acquired Alcohol Detection Systems (ADS), a provider of ignition interlock (breathalyzer) devices sold under the Determinator product line. The acquisition gives Directed national distribution and service capabilities to expand ADS's business in DUI/DWI remediation programs and the automotive aftermarket.