Acquisitions in Maryland in 2019

WestView Capital Partners has made a growth capital investment in Unified Patents, a membership-based organization focused on deterring patent abuse through analytics and defensive actions. WestView will take board representation (Jonathan Hunnicutt and Jeff Clark) to support Unified's next phase of growth and capability expansion as the company diversifies its offerings for members.

NewHold Enterprises, a long-term investment holding company, announced an investment in PRIME AE Group, a U.S.-based architecture and engineering firm. Financial terms were not disclosed; PRIME AE will continue to be led by President and CEO Kumar Buvanendaran (who remains the largest individual shareholder) while NewHold supports the firm's organic and acquisitive growth and national expansion.

Union Park Capital has acquired Earth Networks, a Germantown, Maryland-based provider of environmental intelligence and the world’s largest hyperlocal weather network. Earth Networks will join Union Park’s Advanced Environmental Monitoring (AE Monitoring) platform to expand its sensing, data and analytics capabilities; terms were not disclosed.

Accel-KKR, a technology-focused private equity firm, has acquired InSight Mobile Data, Inc. (IMD), the developer of the StreetEagle fleet and mobile worker management platform. The acquisition is intended to accelerate product development and growth of StreetEagle, with IMD founder John Eller moving to an advisory board role and COO Doug Hawley becoming CEO.

Vision Innovation Partners, a PE-backed ophthalmology platform, has acquired Carroll Vision Center, Center for Total Eye Care and Carroll County Surgery Center in northern Maryland. The deals expand Vision Innovation Partners' Mid-Atlantic network of eye care practices and surgery centers; the platform is backed by Centre Partners.

TRC Companies, supported by private equity sponsor New Mountain Capital, has acquired Lockheed Martin Distributed Energy Solutions (LM-DES). The deal adds just over 400 employees and expands TRC's advanced energy and utility services capabilities across multiple U.S. states, strengthening its distributed energy, efficiency and DERMS offerings.

San Francisco-based private equity firm Encore Consumer Capital completed an investment in Murry's, Inc., a family-owned frozen French toast manufacturer based in Greenbelt, Maryland. The partnership will support Murry's next phase of growth, leveraging Encore's experience in consumer packaged foods and private-label channels.

Swiftcurrent Holdings, an affiliate of ESW Capital, acquired NetPlus Group, a Rockville, Maryland-based provider of telecommunications and mobile expense management software and services. The acquisition (terms not disclosed) will support NetPlus’s continued expansion into government and commercial end markets under ESW’s software-focused operating platform.

Revint Solutions LLC has acquired Washington & West LLC, a Baltimore-based healthcare denials and appeals management firm known for its Quantum Appeals platform. The acquisition expands Revint’s revenue integrity and denials recovery capabilities and enables broader deployment of Washington & West’s services across Revint’s health system customers.

Blue Wolf Capital Partners, a New York-based private equity firm, acquired Kirlin Design Build (KDB), a Rockville, Maryland-based engineering-led construction firm focused on large, complex federal and private sector projects. Management partnered with Blue Wolf for the investment; Mike Miller will become CEO, Doug Makosy remains President, and John Boncher will serve as Executive Chairman to support KDB's next phase of growth with a stronger balance sheet and operating resources.

Affiliates of private equity firms American Securities and Lindsay Goldberg agreed to acquire the Management Services business from AECOM and launched the standalone government services company Amentum. Headquartered in Germantown, Maryland, the business serves the U.S. federal government and allied governments across defense, intelligence, energy and environmental remediation, and employs more than 20,000 people globally.

Relatient, a patient-engagement SaaS provider, acquired Everseat, a Baltimore-based patient self-scheduling and waitlist software company, in October 2019. The deal integrates Everseat’s scheduling and waitlist capabilities into Relatient’s platform to expand self-service scheduling, deepen provider integrations, and accelerate product development for healthcare customers.

Kemberton, a specialized revenue cycle management provider, has acquired Advanced Patient Advocacy (APA), a Columbia, Maryland–based patient advocacy and enrollment services firm. The acquisition expands Kemberton's SRCM capabilities—adding Medicaid eligibility/enrollment and out-of-state Medicaid services—and broadens its offerings for hospitals and health systems across the U.S.

Lyneer Staffing Solutions, a national staffing firm backed by Palm Beach Capital, has acquired Anchor Staffing, a mid-Atlantic regional staffing firm based in Hanover, Maryland. The add-on expands Lyneer's presence and service capabilities in the Mid-Atlantic; financial terms were not disclosed.

Clearway Pain Solutions, in partnership with private equity firm NexPhase Capital, has acquired KureSmart Pain Management from New Harbor Capital. KureSmart, headquartered in Annapolis, Maryland, provides administrative and operations support to pain management physicians and expanded significantly under New Harbor through add-ons and de novo site openings; the deal creates additional scale for Clearway's interventional pain platform.

Martis Capital has closed a minority recapitalization with Credible Behavioral Health, a Rockville, Maryland–based provider of electronic health record and practice management SaaS for the U.S. behavioral healthcare market. Credible co-founder Matt Dorman will remain CEO and partner with Martis; financial terms were not disclosed.

Therma Holdings LLC, a portfolio company of Gemspring Capital, has acquired VarcoMac LLC, an Odenton, Maryland-based provider of electrical systems and maintenance services for data centers, healthcare and government customers. The acquisition expands Therma's mission-critical electrical service capabilities and geographic reach in the Baltimore–Washington metro area; VarcoMac will continue to operate as a subsidiary led by President Shane Wilemon.

Bioenergy DevCo, a developer and operator of anaerobic digestion facilities, received a $106 million minority growth investment from Newlight Partners LP. The capital will be used to expand Bioenergy DevCo's operational footprint across North America to build and operate additional renewable natural gas and organics-recycling facilities.

FoodChain ID, a Paine Schwartz Partners portfolio company, has acquired Decernis, a provider of regulatory intelligence, compliance and risk-management technology for food, consumer and chemical sectors. The deal expands FoodChain ID’s technology-enabled compliance, supply-chain and claim-verification capabilities and adds scale to its U.S. business while broadening its global regulatory content and analytics offerings.

Jacobs has completed its acquisition of KeyW, a Hanover, Maryland-based government cybersecurity and intelligence contractor. The transaction expands Jacobs' Aerospace, Technology and Nuclear (ATN) capabilities—adding KeyW's ISR, cyber, mission-critical IT and analytics expertise—to accelerate growth in high-value defense and space markets.

Genstar Capital has signed and completed a definitive agreement to acquire Advarra, a leading provider of IRB, IBC and research compliance services, from Linden Capital Partners; Linden intends to reinvest as a minority investor upon closing. Advarra, headquartered in Columbia, Maryland, serves pharma, biotech, medical device companies, CROs and academic medical centers (relationships with over 3,200 institutional sites); Genstar plans to expand Advarra’s capabilities and pursue organic growth and strategic acquisitions.

GCOM Software LLC acquired GANTECH, Inc., a Columbia, Maryland-based provider of IT consulting, systems management and managed services for state and local government and education clients. The acquisition — terms not disclosed — expands GCOM's Mid-Atlantic footprint and managed-service capabilities; GCOM is backed by Sagewind Capital.

Acendre, a provider of secure cloud-based talent management software, has acquired ICS Learning Group, a Pasadena, Maryland-based provider of e-learning solutions and the Asentia LMS. The acquisition integrates ICS’s LMS and custom courseware capabilities into Acendre’s talent management platform to offer a unified, end-to-end SaaS solution for regulated industries.

Catalent, Inc. completed the $1.2 billion acquisition of Paragon Bioservices, Inc., a viral vector development and manufacturing partner for gene therapies, expanding Catalent’s biologics and gene therapy capabilities. Paragon’s Baltimore-area facilities and ~380 employees will join Catalent’s global biologics platform, while Catalent secured financing including incremental term loans and a convertible preferred issuance to Leonard Green & Partners to support the transaction.

BlackBern Partners LLC has acquired Zentech Manufacturing, Inc. in partnership with Zentech management and incoming CEO Steve Pudles. The private equity-backed deal positions Zentech to accelerate growth as a leading electronics manufacturing services (EMS) provider serving defense, aerospace, medical and other high-reliability markets, with management staying in place and Matt Turpin remaining as an advisor and investor.

Lincoln Rackhouse, the data center division of Lincoln Property Company, in partnership with Principal Real Estate Investors, has acquired colocation and managed services provider Bytegrid, gaining control of three data centers in the Washington, DC (Silver Spring), Chicago (Aurora) and Seattle (Lynnwood/Aurora area) markets. The acquisition includes approximately 320,000 square feet of facilities and 16MW of IT load and adds Bytegrid's colocation, managed services, network and hosting business to Rackhouse's nationwide portfolio.

Blue Sea Capital has made a growth capital investment in Krueger-Gilbert Health Physics (KGHP) and the newly formed Apex Physics Partners to support KGHP’s expansion and to build Apex as a business-services platform for partnering medical physics practices. The investment will fund geographic expansion, scaling of shared services through Apex Physics Support Group, and continued operations from KGHP’s Towson, Maryland base.

Care Advantage, a BelHealth Investment Partners portfolio company, has acquired Capital City Nurses, a Chevy Chase, Maryland-based home care provider. The add-on expands Care Advantage's presence into Maryland, Delaware and Washington, D.C.; Capital City Nurses operates six offices and has over 500 caregivers.

Anne Arundel Dermatology (ADM), a portfolio company of NMS Capital, has partnered with Maryland Dermatology Laser, Skin & Vein (MDLSV) in Hunt Valley, Maryland. The affiliation brings MDLSV under ADM's administrative and support platform to expand ADM's density in Maryland while MDLSV's founders, Drs. Robert and Margaret Weiss, will continue to lead the practice.

ANSYS acquired substantially all assets of DfR Solutions, the developer of Sherlock automated electronics reliability analysis software, to integrate electronics reliability capabilities into its multiphysics simulation portfolio. The deal is intended to enable designers to analyze electronics failure earlier in the design cycle and extend ANSYS’ electronic simulation offerings to include reliability and durability analyses for industries such as automotive, aerospace and medical devices.

Century Engineering, Inc. has acquired Baltimore-based civil engineering and surveying firm Little & Associates, Inc. The deal — for which Chesapeake Corporate Advisors served as exclusive financial advisor to Little & Associates — adds land development and surveying capabilities to Century's diversified engineering services.

The Riverside Company has invested in HemaTerra Technologies, a provider of cloud-based SaaS solutions for blood and plasma collection centers, hospitals and related healthcare organizations. Riverside said it will invest in product development, sales and marketing, and strategic partnerships to scale HemaTerra's offerings and support continued growth.

Pittsburgh-based First National Insurance Agency (FNIA) has acquired Baltimore-based independent broker Coffey & Company, Inc. The deal gives FNIA a significant presence in the Baltimore market and provides Coffey & Company shareholders and founder Wayne Coffey an ownership continuity outcome.

Community Brands, a provider of cloud-based software and payment solutions for associations and nonprofits, has acquired Attendee Interactive, a Maryland-based conference planning and event management software company. The acquisition adds speaker/abstract management, continuing education accreditation, and event logistics capabilities to Community Brands' event technology portfolio.

Inverness Graham Investments, an operationally focused private investment firm, has acquired Corsica Technologies, a Centreville, Maryland-based provider of turnkey managed IT services. The deal is the first acquisition in a new Inverness platform-build initiative focused on managed IT services to expand geographic footprint and add complementary capabilities; terms were not disclosed.

Gryphon Investors, a San Francisco-based private equity firm, acquired a majority stake in LEARN Behavioral from LLR Partners, marking Gryphon's entry into the behavioral health and autism services sector. LEARN, headquartered in Baltimore, Maryland, operates a multi-site network delivering Applied Behavior Analysis (ABA) and related therapies to children with autism across the United States; LLR and LEARN senior management retain minority stakes.

Hub International Limited acquired The Insurance Exchange, Inc., a Rockville, Maryland-based independent insurance agency. Terms were not disclosed; Joseph Brown, President and CEO of The Insurance Exchange, will join Hub Mid-Atlantic as the agency is integrated to expand Hub's footprint and retirement/benefits capabilities in the Mid-Atlantic.

Behrman Capital, a private equity firm, made a significant investment in The Emmes Corporation, a Rockville, Maryland–based contract research organization (CRO). Management will remain in place and Sal Guccione joined as Executive Chairman; Behrman said the investment will support growth—including expanding non‑government business, global presence, and accretive acquisitions.

Fullsteam, a holding company backed by Aquiline Capital Partners, has acquired Euclid Technology, a Bethesda, Maryland-based provider of Association Management Software (AMS). Euclid’s founder Charlie Vinal will remain with the business as Fullsteam looks to expand its software and payments capabilities within the association management vertical.

Tyto Athene, a portfolio company of Arlington Capital Partners, acquired Island Information Technology Consultants, Inc. (IITC), a provider of unified communications and data visualization solutions to the U.S. Intelligence Community. The deal expands Tyto Athene's audiovisual and multimedia capabilities and supports a strategic shift toward recurring managed services and greater revenue visibility.

ATSG announced an asset acquisition of HighStreet Network Solutions (HNS), the managed services and infrastructure engineering division of HighStreet IT. The acquisition expands ATSG's regional and offshore delivery capabilities, strengthens its presence in the NY Tristate/Long Island marketplace and deepens capabilities across managed services, multicloud and Cisco partner offerings.

Applied Insight, an Acacia Group-backed federal technology services provider, has acquired Applied Technology Group (ATG) and Stratus Solutions to bolster its cloud, analytics and artificial intelligence capabilities for intelligence, defense and federal civilian customers. The add-ons (ATG ~80 employees; Stratus ~100 employees) expand AI's mission-focused capabilities in machine learning, high-scale cloud infrastructure, DevOps and cybersecurity.

Logi Analytics, a Marlin Equity Partners portfolio company, has acquired Jinfonet Software and will merge Jinfonet's embedded pixel-perfect reporting capabilities into Logi's embedded analytics platform. The deal strengthens Logi's position in the embedded analytics market by combining advanced dashboards, self-service analysis and operational reporting under the Logi brand; terms were not disclosed.

Albireo Energy, the building-automation and energy services platform backed by Huron Capital, has acquired EMS Technologies, a building automation and network integration provider serving the Washington/Baltimore area. The add-on expands Albireo’s Mid-Atlantic footprint and deepens its capabilities and customer relationships in government, higher education and healthcare markets.

Roland Foods, a portfolio company of Vestar Capital Partners, has acquired Albert Uster Imports (AUI). Terms were not disclosed; the deal expands Roland Foods' specialty product portfolio—particularly in pastry, confectionery and frozen/refrigerated categories—and increases its presence in foodservice, retail and industrial channels.

Kian Capital completed a majority recapitalization of Charles Products, Inc. (CPI), a long-standing provider of custom merchandise to zoos, museums, aquariums, theme parks and other tourist attractions, partnering with management. Terms were not disclosed; Glen Heitmann was promoted to CEO and Kian said it will provide institutional capital and strategic support to drive the company's next phase of growth.

Huron Capital, a Detroit-based middle-market private equity firm, completed a significant equity investment in WD Lab Grown Diamonds, a Washington, D.C.-area producer of high-quality Chemical Vapor Deposition (CVD) diamonds. The capital will be used to expand WD's production capacity and support growth across gem, retail/wholesale and industrial/scientific end markets while founder-management remain significant shareholders.

Alera Group (through Alera Group Agency, LLC) purchased substantially all assets of The Avon-Dixon Agency, LLC from Shore Bancshares, Inc., with Shore Bancshares receiving approximately $25.2 million in cash. The deal, completed Jan. 3, 2019, will integrate Avon-Dixon into Alera's national network while preserving local client service.