Acquisitions in Massachusetts in 2024

The Granite Group has acquired Salem Plumbing Supply, a multi-location plumbing and heating distributor in Massachusetts. The acquisition, for which terms were not disclosed, was advised on the sell-side by The Beringer Group and strengthens The Granite Group’s presence in eastern Massachusetts.

CleanCapital acquired a portfolio of 40 solar assets totaling 22.7 MW from Kendall Sustainable Infrastructure (KSI), expanding its operating distributed solar footprint across Vermont, New York and California. Manulife Investment Management and its institutional co-investors committed an additional $145 million of equity to CleanCapital to fund development, construction and future acquisitions; the sale closes out KSI’s first fund dedicated to community solar.

JANUS Research Group, a portfolio company of CM Equity Partners, has acquired Verisk's Atmospheric and Environmental Research (AER) business. The transaction (advised by D.A. Davidson for Verisk) brings AER's remote-sensing, climate, oceanography and space-weather capabilities into JANUS to broaden mission-focused science, analytics and AI/ML offerings for federal, defense and commercial customers.

Tarrytown Expocare Pharmacy, a national long-term care pharmacy focused on IDD and behavioral health, has acquired Greater Boston Long Term Care Pharmacy to establish a Massachusetts presence. The deal, supported by Sheridan Capital Partners and advised on the sell-side by M&A Healthcare Advisors, adds a regional location to Tarrytown's platform and aims to expand services to group homes and assisted living communities across the Commonwealth.

Arlington, Va.-based Ascend, a growth platform for regional accounting firms backed by private equity firm Alpine Investors, will add Boston-based IPA 200 firm Walter Shuffain effective Jan. 1. The deal brings Walter Shuffain’s FY23 net revenue of $30.3 million and 114 professionals (including 13 partners) onto Ascend’s platform and expands Ascend’s footprint into the Boston market; terms were not disclosed.

SailPoint Technologies has acquired Imprivata's Identity Governance and Administration (IGA) business and entered a strategic go-to-market partnership with Imprivata, effective December 13, 2024. SailPoint will integrate Imprivata's IGA with its Identity Security Cloud, support customers who remain on Imprivata's IGA platform through 2027, and promote Imprivata as its exclusive enterprise access management partner in healthcare while Imprivata focuses on access management, mobile, and privileged access solutions.

William Raveis Real Estate, Mortgage & Insurance has acquired Jordan Real Estate, a boutique Nantucket brokerage led by co-owners Gloria Grimshaw and David Callahan. The acquisition expands William Raveis' presence and agent network on Nantucket, adding a long-established luxury and vacation-home specialist to its integrated real estate, mortgage, and insurance platform.

AbbVie has completed the $1.4 billion acquisition of Aliada Therapeutics, a RA Capital- and JJDC-backed biotech developing ALIA-1758, an anti‑pyroglutamate amyloid beta antibody that uses a blood‑brain‑barrier crossing technology for Alzheimer's disease. The deal brings Aliada's CNS drug‑delivery platform and lead Phase 1 asset into AbbVie's neuroscience pipeline and represents an exit for RA Capital's Raven incubator and other early investors.

SEI Investments Company (SEI) has acquired LifeYield, a Boston-based provider of tax-smart wealth management technology. SEI will integrate LifeYield's API-driven UMH (unified managed household), tax optimization, and multi-account management capabilities into the SEI Wealth Platform to offer real-time, automated tax-aware portfolio and withdrawal optimization for advisors and institutions.

Chroma Medicine and Nvelop Therapeutics have merged to form nChroma Bio and completed an oversubscribed $75 million financing led by Cormorant Asset Management, ARCH Venture Partners, Atlas Venture and Newpath Partners. The combined company will advance a pipeline built on epigenetic editing and non-viral, programmable in vivo delivery, with lead candidate CRMA-1001 targeted at chronic hepatitis B and D and a planned clinical trial application submission in 2025.

Cherry Bekaert (Cherry Bekaert LLP and Cherry Bekaert Advisory LLC) has acquired Katz Nannis + Solomon, a Boston-area full-service CPA firm, to strengthen its presence in the Northeast and expand audit, tax and advisory capabilities. The transaction transfers Katz Nannis + Solomon's attest assets to Cherry Bekaert LLP and non-attest assets to Cherry Bekaert Advisory LLC, and the combined firm will operate under the Cherry Bekaert brand.

Loop has acquired Wonderment, a proactive post-purchase customer experience and order-tracking platform for Shopify merchants. The deal integrates Wonderment's real-time shipment insights and proactive alerts into Loop's commerce operations suite to broaden post-purchase capabilities and improve retention for e-commerce brands.

Apella Wealth, a West Hartford, Connecticut–based registered investment advisor, has acquired Barker Financial Group, Inc., an RIA based in Topsfield, Massachusetts that brings $218 million in AUM. The add-on deal, Apella's nineteenth and its eighth since partnering with Wealth Partners Capital Group, closed on December 6, 2024 and establishes Apella's presence in Topsfield while expanding its regional financial planning and investment management capabilities.

Verint completed the acquisition of Cogito in October 2024, adding Cogito’s real-time agent coaching and conversation AI capabilities to its CX Automation portfolio. Verint has already integrated Cogito technology to launch the Verint CX/EX Scoring Bot, leveraging Cogito’s ability to analyze 200+ acoustic and lexical signals to score live customer-agent interactions and improve contact center performance.

Easton Select Group has acquired the services operation of Shore Pools, a Marshfield, Massachusetts-based pool services company; Shore Pools' retail operation is excluded from the deal and will continue to operate independently. The services business will be integrated into Easton Pool and Spa to expand maintenance capabilities across Massachusetts' South Shore; Easton Select Group is backed by Brenton Point Capital Partners.

Vector Capital, a San Francisco-based private equity firm, has acquired Bigtincan Holdings Limited for A$0.22 per share in cash, valuing the transaction at approximately A$183 million. Bigtincan — a Waltham, Massachusetts–headquartered provider of AI-driven sales and revenue enablement software — will operate as a private company with management, including CEO David Keane, expected to remain in place while Vector supports product innovation and revenue growth.

Feast & Fettle, a premium prepared-meal delivery operator based in Rhode Island, has acquired WECO Hospitality to accelerate its East Coast expansion and support a January 2025 launch in Brooklyn. The deal brings WECO’s members into Feast & Fettle’s integrated DTC meal platform, expanding the buyer’s customer base and capacity across the Northeast.

Informa PLC has combined its Informa Tech digital businesses with TechTarget to create Informa TechTarget. Informa contributed $350 million in cash and its digital businesses for an approximate 57% equity stake while existing TechTarget shareholders received cash and retain about 43% of the new company; the combined company began trading on Nasdaq under the ticker TTGT.

Astorg completed a take-private of Hamilton Thorne and simultaneously acquired Cook Medical’s Reproductive Health business, combining the two to create a global leader in assisted reproductive technology (ART) consumables, instruments and equipment. The combined company will serve fertility clinics and IVF laboratories in over 115 countries, with a new executive team appointed to lead the integrated MedTech platform.

CAPTRUST Financial Advisors has acquired Boston Financial Management, adding nearly $5 billion of client assets and 45 colleagues across Boston, Cape Cod (Massachusetts) and Portland (Maine). As part of the transaction BFM founder Richard H. Morse will retire; Berkshire Global Advisors served as BFM's financial advisor.

Zelis, a Boston-based healthcare technology company, sold a minority stake to a group of investors led by Mubadala Investment Company and including Norwest and HarbourVest, with Parthenon and Bain Capital remaining the majority owners. The transaction closed November 26, 2024 and brings strategic capital and investor support to fuel Zelis's continued growth in healthcare payments and financial technology.

Italian technology company Bending Spoons completed an all-cash acquisition of US-based streaming technology provider Brightcove Inc. for approximately $233 million (about $4.45–$4.46 per share). The deal, unanimously approved by Brightcove's board and its stockholders, takes Brightcove private and brings its streaming SaaS platform into Bending Spoons' portfolio to expand its video and streaming capabilities.

Kelvin Group, a national industrial and commercial mechanical services provider backed by Southfield Capital, has acquired JS Compliance, LLC, a nationwide process safety and risk management consultancy. The add-on acquisition — Kelvin's thirteenth since partnering with Southfield — expands Kelvin's process safety management (PSM) capabilities and geographic reach, and broadens its compliance service offerings for clients in food & beverage, cold storage and other process industries.

The E-J Group has acquired State Electric Corporation, a Bedford, Massachusetts-based full-service electrical contractor. State Electric will retain its name and leadership and will join E-J to strengthen the buyer's Northeast presence and expand capabilities in healthcare, life sciences, power, transportation and renewable energy projects.

Moody's Corporation has acquired Numerated Growth Technologies, a Boston-based loan origination platform, to integrate Numerated into Moody's Lending Suite and expand Moody's end-to-end lending technology and monitoring capabilities. The deal builds on a January 2024 partnership and will accelerate Moody's capabilities across the credit lifecycle; terms were not disclosed.

Digital Color Concepts (DCC) has acquired TigerPress, a folding carton and commercial print manufacturer based in East Longmeadow, Massachusetts. The add-on expands DCC's manufacturing capacity and Northeast footprint following a growth investment from Sherburne Partners; the deal closed November 20, 2024. Terms were not disclosed.

Bell's Foods LLC, formed by three entrepreneurs including Dave West, has acquired the historic Bell's Brand (including Bell's Seasoning, Gravy, Brine and Onions) after the prior owner's financial difficulties. The new owners have restarted manufacturing and restocked core seasonings for the holidays, with Bell's Stuffing expected to return to shelves in early 2025.

Chicago-based private equity firm Periscope Equity has completed a majority recapitalization of The RepTrak Company, a Boston-based leader in reputation intelligence. The investment — advised by BrightTower with credit financing support from Tree Line Capital Partners — will fund product and platform innovation (including AI and data visualization), expand advisory capabilities, and support organic and inorganic growth while existing investors led by Catalyst Investors partially exited.

IEH Laboratories & Consulting Group has acquired Founders Science Group (FSG), an analytical testing and formulation services lab based in Taunton, Massachusetts. The deal enabled one founder to retire while preserving the business operations and expands IEH's pharmaceutical and beauty-product testing capabilities within its global lab network.

Hg has made a significant growth investment in Empyrean Solutions, a Woburn, Massachusetts-based provider of risk and performance management SaaS for banks and credit unions. Existing investor Spectrum Equity is participating alongside Hg and current shareholders including TechVenture Investors and management will remain invested; terms were not disclosed.

Bluewave Technology Group, a technology advisory and sourcing firm based in San Clemente, California, has acquired Comtel Group, Inc., a Needham, Massachusetts-based telecom advisory firm. The acquisition expands Bluewave's Northeast footprint and adds Comtel's client base and vendor advisory capabilities across network, cloud, CX and security.

Distribution Solutions Group, Inc. (DSG) announced it closed two previously announced acquisitions: Tech-Component Resources (acquired into DSG’s Gexpro Services segment) on October 30, 2024, and ConRes Test Equipment (acquired into DSG’s TestEquity segment) on November 18, 2024. Both deals were funded with existing cash and availability under DSG’s credit agreement and expand DSG’s distribution and test-equipment capabilities across manufacturing and electronics end markets.

Aspen Publishing, a subsidiary of UWorld, has acquired full ownership of JD-Next, the law school preparation course and alternative admissions exam developed by University of Arizona researchers. The acquisition follows a year in which Aspen held an exclusive license to administer the program and will enable further investment, technology development, and expansion of JD-Next to additional law schools and students nationwide.

Blue Mantis, a PE‑backed managed services and cybersecurity provider, has acquired Colligio, a Cisco‑focused unified communications, networking and security solutions firm headquartered in Walpole, Massachusetts. The acquisition launches a new Collaboration/Unified Communications Practice led by Colligio founder Sean Kelley and expands Blue Mantis’ collaboration, networking and Cisco capabilities across its Northeast client base.

NMS Capital has partnered with CSL Consulting's management in a recapitalization to support the company's next phase of growth. The investment will provide capital for organic expansion and acquisitions to scale CSL's Owner's Representative, project management and construction mitigation services.

Boston-based private equity firm Artemis Capital Partners has acquired Diamond Antenna and Microwave Corporation, a Littleton, Massachusetts developer and manufacturer of high-reliability RF rotary joints and rotating subsystems for aerospace, defense and space applications. Artemis says Diamond will continue to operate independently from its Littleton facilities and that the firm plans to invest in technical capabilities to deepen Diamond's offerings to prime integrators and government customers.

Imagine Learning has acquired EarlyBird, a game-based dyslexia screener and early literacy assessment for PreK–Grade 3 students. The acquisition integrates EarlyBird's adaptive screening and real-time educator dashboard into Imagine Learning's assessment and intervention portfolio to strengthen early literacy identification and targeted instruction.

Abpro Corporation and Atlantic Coastal Acquisition Corp. II completed their business combination and the combined company will operate as Abpro Holdings, Inc., with Abpro Corporation as a wholly owned subsidiary. The company is expected to begin trading on Nasdaq under the ticker ABP (and ABPWW for warrants); South Korea's Celltrion participated in a $5.0 million PIPE and appointed Soo Young Lee to Abpro's board.

Board, the enterprise planning platform, has acquired Prevedere to embed AI-driven predictive models and external economic intelligence into Board's planning suite. The deal brings Prevedere's predictive planning capabilities and team of economists/data scientists (trusted by brands such as Kraft Heinz and McDonald's) into Board to enhance real-time decision-making and forecasting for enterprise customers.

SBI Growth has acquired Price Intelligently from Paddle to strengthen SBI's pricing practice by adding advanced pricing analytics and monetization capabilities. Paddle divested the Price Intelligently business to focus on its core billing and payments offerings while SBI integrates the pricing tools and expertise into its go-to-market services.

oneZero Financial Systems, a Somerville-based provider of multi-asset trading technology, received a minority growth investment from Golden Gate Capital with existing investor Lovell Minnick Partners remaining in place. The capital will support oneZero's product roadmap, team expansion and M&A-driven growth while founders Andrew Ralich and Jesse Johnson remain largest individual shareholders and continue in executive roles.

Cadex Solutions Corporation, in partnership with Trivest Partners LP, has acquired Insurance Recovery Group (IRG) and its subsidiary Insurance Subrogation Group (ISG). The acquisition expands Cadex's insurance subrogation and second injury fund recovery capabilities and adds specialized claims recovery expertise to its order-to-cash platform.

NationsBenefits has acquired Good Measures, a Food-as-Medicine platform that combines clinical coaching, patented nutrition technology, and personalized food prescriptions. The acquisition integrates Good Measures' capabilities into NationsBenefits' supplemental benefits and fintech platform to expand medically-tailored nutrition offerings for health plans and their members across the United States.

PowerGEM, a PE-backed provider of power grid and energy market simulation software, has merged with Cambridge Energy Solutions (CES) to combine complementary energy market modeling and pricing simulation products. The deal expands PowerGEM's software portfolio and capabilities for short- and long-term electricity market simulation to better serve traders, financial firms, utilities and other power market participants.

Ulbrich Stainless Steels & Special Metals, Inc. has acquired ATI Inc.'s precision rolled strip operations in New Bedford, Massachusetts and Remscheid, Germany. The divestiture allows ATI to streamline its portfolio and sharpen its focus on aerospace and defense materials while expanding Ulbrich's precision strip capabilities and global footprint.

Zaelab, a Westport-based digital transformation provider for B2B companies, has acquired Trellis, a Malden-based eCommerce and digital marketing agency. The acquisition adds Trellis’ expertise in D2C and marketplace channels plus UX and platform capabilities (Shopify, BigCommerce, Adobe Commerce), broadening Zaelab’s full-service digital commerce offerings.

Stout, a global advisory firm, has acquired DebtX Analytics, a Boston-based provider of loan valuation, stress testing, and CECL analytics. The deal brings 13 DebtX Analytics employees into Stout and expands Stout's capabilities in loan portfolio valuation and regulatory stress testing for banks, insurers, private equity and government clients.

The Access Group has entered into an agreement to acquire Paytronix, a US-based cloud digital guest engagement platform serving restaurants and convenience stores. The acquisition expands Access's product offering and footprint in the United States while integrating Paytronix's loyalty, online ordering, payments and guest engagement capabilities into Access's broader hospitality and business management suite.

Ecolab has acquired Barclay Water Management, a Newton, Massachusetts-based provider of water safety and digital monitoring solutions, including the proprietary iChlor Monochloramine System. The acquisition (closed November 1, 2024) establishes a new growth platform integrated with Ecolab’s ECOLAB3D digital monitoring capabilities; Barclay reported approximately $50 million in sales for 2023.

Rural Healthcare Group (owned by private equity firm Kinderhook Industries) has acquired Steward Medical Group and Steward Health Care Network, consolidating the primary care clinics formerly part of Steward's hospital system into RHG’s platform. RHG will rebrand as Revere Medical, invest in clinic infrastructure and operations, and aim to preserve local primary care access across Massachusetts and nine other states.