Acquisitions in Michigan in 2020

The Hilb Group, LLC (THG) acquired Michigan-based Owen Moore Insurance Agency, LLC (OMA) effective December 31, 2020. OMA, a full-service property and casualty insurance agency, will join THG's Midwest region with Randal (Randy) Moore and his team; THG is a PE-backed insurance brokerage controlled by The Carlyle Group.

Alpine 4 Technologies, Ltd. entered into a binding LOI to acquire Vayu (U.S.), Inc., a maker of hybrid VTOL autonomous aircraft, in a reverse triangular merger that will make Vayu a wholly owned subsidiary. The deal adds VTOL aircraft, autopilot software and expanded capabilities to Alpine 4's aerospace holdings (complementing Impossible Aerospace) and is intended to accelerate medical delivery, infrastructure inspection and other commercial UAV opportunities; Vayu CEO Daniel Pepper will remain in place.

Providence Equity Partners has made a majority investment in 365 Retail Markets, a Troy, Michigan-based provider of self-service commerce technology for the foodservice industry. Providence will partner with existing investor McCarthy Capital and the company's management team to support product development, customer services, and accelerated growth while CEO Joe Hessling remains a significant shareholder.

MI Windows and Doors has acquired Sunrise Windows from The Riverside Company; financial terms were not disclosed. Sunrise, a Temperance, Michigan-based manufacturer of custom vinyl replacement windows founded in 1994, was grown under Riverside (including a 71,000 sq. ft. facility expansion) and will join MI’s portfolio to expand product offering and dealer reach across the U.S.

Uniprop Corporation (a family office) and Seneca Partners (an independent sponsor) acquired Michigan Chandelier, Inc., a 100+-year-old lighting fixtures and electrical supplies retailer and distributor headquartered in Southfield, Michigan. The sellers, majority owners Ed and Judy Berne, are exiting to retire; Ken Sanders (President and minority owner) will remain to assist the ownership transition. Calder Capital served as lead advisor on the transaction.

Rimkus Consulting Group, a global forensic engineering and technical consulting firm, has acquired Applied Safety and Ergonomics (ASE), a human factors consulting firm headquartered in Ann Arbor, Michigan. The deal expands Rimkus' human factors capabilities and geographic reach across the United States, adding ASE's services in product safety, usability testing, forensic investigations and litigation support.

An affiliate of The Resolute Fund IV (managed by The Jordan Company) acquired Heartland Home Services from North Branch Capital, with Cobepa taking a significant minority stake and North Branch remaining a minority investor. Carlyle's Global Credit platform led and structured the debt financing to support the transaction. The investment will provide Heartland with resources to drive operational efficiencies and pursue organic and inorganic growth across its Midwestern residential HVAC, plumbing, electrical and indoor air quality platform.

The Care Team, a Revelstoke Capital Partners portfolio company, has completed the acquisition of InTeliCare Home Health and Hospice. The deal expands The Care Team’s home health and hospice footprint across Michigan’s lower peninsula; InTeliCare founders Irene Tuttle and Todd Josephson will remain in advisory roles.

A consortium led by consumer-focused private equity firm L Catterton — including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Mubadala Investment Company and StepStone Group — has agreed to acquire a controlling interest in Truck Hero, Inc. CCMP Capital and Truck Hero founder/CEO Bill Reminder will remain meaningful investors. Truck Hero, headquartered in Ann Arbor, Michigan, is a leading manufacturer and marketer of branded aftermarket truck and Jeep accessories and operates the direct-to-consumer site RealTruck.com; the deal was expected to close in Q1 2021.

HungerRush, a CapStreet portfolio company, has acquired OrdrAI, a conversational AI provider that enables text- and voice-based ordering for restaurants. The acquisition integrates OrdrAI's AI-driven SMS and voice ordering capabilities into the HungerRush Restaurant Management System as an add-on to expand digital ordering and self-service channels.

Alera Group acquired Lighthouse Group, an eight-location Michigan insurance broker, effective December 1, 2020. The acquisition expands Alera’s national insurance and employee benefits platform into Michigan and allows Lighthouse to leverage Alera’s resources while retaining its local team.

H.I.G. Growth Partners (via an affiliate) completed a strategic growth investment and recapitalization in Pinnacle GI Partners, the management services organization affiliated with The Center for Digestive Health (CDH). The investment is intended to support expansion of gastrointestinal services across Michigan, preserve independent physician practices, and leverage CDH's existing infrastructure and ancillary services.

ASGARD Partners & Co., a private equity firm, has acquired a controlling interest in Angstrom Technology, a Grand Rapids-based provider of modular cleanrooms and controlled-environment solutions. Management will remain as a significant minority investor and ASGARD's investment will support growth initiatives, capability expansion and potential strategic acquisitions across North America.

Wolf Consulting, backed by Evergreen Services Group, has acquired Xpert Technologies, a full-service IT provider specializing in managed services, VoIP, data center services and cybersecurity. Xpert, founded in 1998 and operating primarily in the Detroit, Michigan area, will continue to operate independently while receiving support from Wolf Consulting; terms were not disclosed.

Monroe Engineering Group, a ShoreView portfolio company based in Rochester Hills, Michigan, has acquired Sattler, Inc., a custom machined components manufacturer located in Ira Township, Michigan. The add-on expands Monroe’s manufacturing capabilities and product offering across industrial, defense, and automotive end markets during ShoreView’s ownership of the platform.

Sagepeak Capital, a Boston-area private investment firm, has acquired ENMET, LLC, a manufacturer of hazardous gas detection equipment, from Benford Capital Partners. Benford Capital had owned ENMET since 2014, during which it completed growth initiatives including an add-on acquisition of Sensora Corporation; Sagepeak is the new financial sponsor to support the company’s next growth chapter.

Volaris Group Inc., through its AssetWorks Risk Management business, acquired the assets of Go Solutions Group, Inc., a Lansing, Michigan-based provider of special education documentation and Medicaid billing software (GoClaim). Go Solutions will continue operating under its brand and its team has joined AssetWorks to expand AssetWorks' K-12 special education and Medicaid reimbursement capabilities.

Hub International Limited acquired the assets of United Shortline Insurance Services, Inc., a Port Austin, Michigan specialist in shortline and regional railroad insurance programs. The deal will bolster Hub's rail practice (Hub Mid‑America/Kansas City), and United Shortline's owner and CEO Louis Schillinger will join Hub Mid‑America.

FYZICAL, a New Harbor Capital portfolio company, has completed an add-on acquisition of two Michigan-based FYZICAL franchisee clinics, expanding its corporate-owned footprint in the Midwest. The acquisition will allow FYZICAL to deploy pilot initiatives across additional marketplaces and provide franchisees with evidence-based best practices.

Century Technology Group, a Michigan-based family office, has acquired Mutually Human, a Grand Rapids custom software developer and application solutions provider. Financial terms were not disclosed; Century said the deal will support growth of its software development and application modernization services through investments in sales, marketing, talent and complementary capabilities.

Emerald EMS, a portfolio company of New Water Capital, has acquired Saline Lectronics, Inc. (SLI) of Saline, Michigan and Veris Manufacturing of Brea, California. The add-on acquisitions expand Emerald EMS's U.S. footprint, engineering resources and high-reliability electronics manufacturing capacity across medical, aerospace/defense and industrial end markets.

Westbourne Capital Partners, alongside Samson Investment Partners and several family office investors, completed a strategic growth investment in Proos Manufacturing to support the company's expansion in the e-commerce fulfillment and material handling markets. Management, led by CEO Bryan Howard, will remain in place as the company invests in engineering talent, capability expansion and geographic growth.

CenterOak Partners-backed FullSpeed Automotive has acquired Uncle Ed's Oil Shoppe, a Michigan-based operator of 29 quick-lube centers and 5 AutoBath America car wash locations. The add-on expands FullSpeed's Midwest footprint and marks the company's 15th acquisition since CenterOak's majority investment in 2017, bringing FullSpeed's network to nearly 600 locations.

United Federal Credit Union will acquire the assets and assume the liabilities of Edgewater Bank in an all-cash transaction. Edgewater Bancorp and Edgewater Bank will liquidate and distribute remaining cash to stockholders; the deal expands United's branch network and increases its assets to roughly $3.5 billion.

ServiceTitan has acquired Servant Systems, a long-running provider of business software for franchise brands. The deal brings Servant Systems' franchise-focused capabilities and customer relationships (including Neighborly, Jan-Pro and DreamMaker) into ServiceTitan to broaden its platform and deepen franchise market coverage.

BlueSprig Pediatrics, a Houston-based provider of center- and home-based ABA therapy, has acquired the assets of Michigan-based Momentum Autism Therapy Services. The acquisition expands BlueSprig’s footprint into southeastern Michigan and increases access to ABA and related therapy services; terms were not disclosed.

GrowGeneration Corp. (NASDAQ: GRWG) acquired Big Green Tomato, a two-store hydroponic and garden supply chain operating in Battle Creek and Taylor, Michigan. The deal adds two retail locations (including purchase of a 10,000 sq ft Battle Creek property), strengthens GrowGeneration's presence in Michigan and expands its footprint in the commercial and recreational cannabis cultivation end market.

Healthcare Outcomes Performance Company (HOPCo), a Linden Capital Partners portfolio company, acquired Stryker Performance Solutions' BPCI-A value-based care convener business and segments of its health system orthopedic service line analytics subscription business. The deal expands HOPCo's population health and musculoskeletal management capabilities, making it one of the largest conveners of MSK bundled payment programs and the largest manager of orthopedic service lines in the United States.

H.I.G. Capital, through an affiliate, acquired Hart & Cooley, LLC from Johnson Controls International plc in October 2020. The private equity buyer will operate Hart & Cooley as a standalone company alongside current management to pursue growth, innovation and operational improvements across its HVAC and air-distribution manufacturing footprint.

BNP Media has acquired Food Safety Magazine, integrating the leading food-safety trade publication into its food, beverage and packaging group. The deal keeps key editorial and publishing staff in place and supports a transition for owners Bobby and Don Meeker into retirement while expanding BNP Media's content and event capabilities in the food-safety sector.

Applus Services, S.A. (Applus+) has acquired Reliable Analysis, a laboratory-based EMC, materials and component testing company, for approximately €67 million. The acquisition (from the founding family) expands Applus+ Laboratories’ footprint in China and North America and strengthens its capabilities in electric vehicle (EV) powertrain and EMC testing.

LFM Capital has partnered with Diamabrush management and made an investment to create a new LFM portfolio company. Diamabrush, headquartered in Madison Heights, Michigan, manufactures diamond abrasive brushes and floor restoration tools used across retail, industrial and DIY markets; LFM said the investment will support direct customer service expansion and further growth.

Atlas Copco agreed to acquire Perceptron for USD 7.00 per share in an all-cash, negotiated statutory merger, creating an enterprise value of approximately MUSD 62.7. The acquisition brings Perceptron's automated 3D metrology and robot-guidance capabilities into Atlas Copco’s newly created Machine Vision Solutions division to expand its smart factory and machine-vision offering.

AWT Labels & Packaging, a Morgan Stanley Capital Partners-backed platform, has acquired MacArthur Corporation, a custom-engineered labels and specialty packaging manufacturer based in Grand Blanc, Michigan. The acquisition expands AWT’s engineering, manufacturing and product capabilities—adding serialized barcoding, RFID, anti-counterfeit, anti-tamper and anti-microbial solutions—and MacArthur will continue to operate under its existing name.

Lexitas, a portfolio company of funds advised by Apax Partners, has acquired Axiom Requisition, a Midwest-based medical record retrieval firm. The acquisition expands Lexitas' nationwide legal support services footprint and adds proprietary record-retrieval technology and capabilities to its offering.

Waséyabek Development Company, the tribally-owned holding company of the Nottawaseppi Huron Band of the Potawatomi, has acquired CNC machining manufacturer Re-Source Industries of Muskegon, Michigan. The business will be renamed RSI of West Michigan and operate alongside WDC-owned Baker Engineering to expand West Michigan manufacturing capacity and capabilities; Calder Capital represented WDC in the transaction.

SCIO Automation Group has acquired Industrial Automation LLC, giving the group its first direct presence in North America. The acquisition expands SCIO’s automation capabilities—ranging from small robot cells to complete production lines—and supports the group’s internationalisation strategy.

Change Healthcare acquired PROMETHEUS Analytics from Altarum to bring the industry-standard episode-of-care definitions and value-based payment analytics into its HealthQX value-based care platform. The acquisition is intended to accelerate adoption of value-based reimbursement models by giving payers and provider networks integrated analytics to optimize payment models, evaluate provider performance and improve network efficiency.

Pittsburgh-based Benshaw Inc. has acquired Excel Industrial Electronics Inc., a Clinton Township, Michigan leader in drive systems, control panels and automation. The deal brings Excel's drive systems integration, PLC/PC, networking and HMI capabilities into the Benshaw Group to accelerate growth and expand Benshaw's industrial and OEM motor control solutions.

High Street Insurance Partners, a Huron Capital ExecFactor platform, has acquired Bloomfield Hills-based Capital Insurance Group (CIG) as an add-on to expand its commercial insurance presence in metro Detroit. The transaction is one of three deals completed by High Street in August 2020 and marks Huron Capital's 200th acquisition since 1999; terms were not disclosed and CIG shareholders will remain active with High Street.

Scottsdale-based private equity firm Eberhart Capital acquired M. J. Van Damme Inc., a Gwinn, Michigan construction and mine-site services company, in a deal reported at $20-$50 million. The acquisition expands Eberhart Capital's construction and regional capabilities, adding trucking, quarry and land-reclamation expertise and a 130-employee operating base in the Upper Midwest.

PowerVac of Michigan (PVM), together with Peninsula Capital Partners and management, has acquired Fire & Ice Mechanical, a Sterling Heights, Michigan-based full-service commercial and industrial heating and cooling contractor. The acquisition expands PVM's service capabilities and geographic presence in Southeast Michigan by adding F&I's emergency service, preventive maintenance and system upgrade offerings.

ProMach has acquired Fogg Filler Company, a Holland, Michigan–based designer and manufacturer of rotary liquid filling systems, expanding ProMach’s liquid filling and ESL (extended shelf life) capabilities. Fogg will join ProMach’s Filling Business Line, with current owner Ben Fogg remaining to lead the Fogg team of roughly 170 employees at its Holland facility.

Patrick Industries, Inc. has acquired Inland Plywood Company, a family-owned supplier, laminator, and wholesale distributor of plywood and specialty panels headquartered in Pontiac, Michigan. The acquisition expands Patrick's building-products and distribution capabilities in the marine, RV, and industrial markets and will support Inland's growth and broader geographic reach.

USI Insurance Services acquired Troy, Michigan-based Colburn Group Insurance. All of Colburn Group’s team members, including leadership, will join USI as the firm expands its footprint and access to USI’s national risk management and employee benefits capabilities; terms were not disclosed.

Red White & Bloom Brands Inc. announced it has exercised its option to acquire 100% of PharmaCo, Inc. through its wholly owned subsidiary MichiCann Medical Inc., issuing up to 37 million units as consideration subject to regulatory approvals. The move gives Red White & Bloom a direct entry and a significant retail footprint in the Michigan cannabis market as part of the company's multi-state expansion strategy.

Virginia Beach-based Groundworks, a PE-backed national foundation services platform, acquired Foundation Systems of Michigan (FSM) on July 9, 2020. The add-on expands Groundworks' footprint into Michigan and the Midwest, bringing FSM's ~200+ employees and multi-branch operations onto the Groundworks platform backed by investors including Cortec Group and Succession Capital Partners.

Lexitas, a portfolio company of funds advised by Apax Partners, has acquired Michigan-based Lumen Legal. The acquisition expands Lexitas’ litigation services platform with legal staffing, document review and commercial contracts outsourcing capabilities to serve law firms, corporate legal departments and insurance companies nationwide.

Blackmon Mooring & BMS CAT (BMS CAT) has acquired Jarvis Property Restoration, a Detroit-founded restoration company with locations across Michigan and Florida. Bill Jarvis and Matt Jarvis will remain in leadership to assist integration as BMS CAT expands its national footprint and service capacity.

Unifrax, a Clearlake Capital-backed global provider of high-performance specialty fibers and inorganic materials, has acquired Rex Materials Group, a Howell, Michigan-based manufacturer of engineered thermal components. The acquisition expands Unifrax's portfolio of high-temperature engineered components, enhances manufacturing capabilities and supports the company's global growth strategy; financial terms were not disclosed.