Acquisitions in Michigan in 2021

Great Expressions Dental Centers, a portfolio company of Roark Capital, acquired Amazing Dental Group, a Michigan-based dental services organization with four locations in the Detroit metro. The transaction closed on December 30, 2021, and Amazing Dental founders Dawsar Najor and Dr. Nawras Najor will join Great Expressions in leadership roles to support continued growth and integration.

Sandvik AB has acquired US-based Dimensional Control Systems (DCS), a provider of dimensional quality management software and on-site engineering services, to strengthen its industrial metrology and digital manufacturing offering. DCS, headquartered in Troy, Michigan, will be reported within Sandvik's Industrial Metrology division and brings ~70 employees, 10,000 software licenses, and a software-heavy revenue mix (65% software, ~40% recurring).

UFP Industries’ subsidiary Deckorators, Inc. acquired Ultra Aluminum Manufacturing Inc., a Howell, Michigan manufacturer of ornamental aluminum fencing, gates and railing, for $25.0 million with an additional $2.0 million contingent on performance. The acquisition adds aluminum fencing and railing to Deckorators’ product lineup and preserves existing Ultra leadership while expanding UFP’s building-products offerings.

Amador Bioscience has completed the acquisition of Ann Arbor Pharmacometrics Group (A2PG), a specialist pharmacometrics and clinical pharmacology consulting firm based in Ann Arbor, Michigan. The deal expands Amador’s translational sciences and clinical pharmacology capabilities, combining A2PG’s modeling and simulation expertise with Amador’s global CRO services.

HGR Industrial Surplus has acquired Tramar Industries, a global CNC machinery marketplace, merging the two businesses to create a one-source solution for buying and selling used industrial equipment. The deal expands HGR's CNC equipment offering, geographic footprint and warehouse capacity across North America while combining complementary marketplaces and services.

CJK Group, Inc. has acquired Tweddle Group, a provider of product support, content development, content management, and digital/print distribution solutions. Tweddle Group, headquartered in Clinton Township, Michigan with over 500 employees worldwide, will operate under CJK leadership to expand CJK's technology and service capabilities and diversify its offerings.

BPOC, a Chicago-based healthcare-focused private equity firm, has made a strategic growth investment in Alliance Physical Therapy Partners, a national operator of outpatient physical therapy clinics. Alliance operates 90+ clinics across 14 states with 450+ licensed clinicians and will partner with BPOC and management to accelerate network growth and expand services; financial terms were not disclosed.

RoadOne IntermodaLogistics, a portfolio company of Nonantum Capital Partners, has acquired EHS Trucking Enterprises, a regional trucking provider based in Brownstown Township, Michigan. Kreshmore Group advised EHS on the transaction, which closed December 22, 2021; financial terms were not disclosed.

Atlanta-based private equity firm Crown Capital Investments has acquired the JRT agency, a Farmington Hills, Michigan digital-first marketing agency, and its sister company CG Detroit, a branded graphics and production provider. The acquisitions expand Crown Capital's marketing solutions portfolio and are expected to create synergies with existing portfolio company H&W Solutions to enhance consumer engagement and fulfillment capabilities.

Main Street Capital Holdings, LLC completed a recapitalization of its portfolio company I-deal Optics, Inc. in partnership with the company's management to provide liquidity and support continued growth. I-deal Optics is a wholesale supplier of prescription eyeglass frames with national reach and a diverse brand portfolio.

AEA Investors' Small Business Fund (AEA SBF) recapitalized Monroe Engineering Holdings, LLC alongside management and employee investors. The investment provides liquidity to existing stakeholders and positions Monroe to continue serving OEM customers across aerospace, medical, renewable energy and other industrial end markets.

Reese-based D.H.T. Holdings, Inc. has acquired Byron Center-based Rohr Gasoline Equipment, Inc., a long-established provider of fuel station equipment installation, maintenance and tank services. The purchase, led by Calder Capital as adviser to Rohr, transfers ownership from Mitch Veenstra to D.H.T. to expand D.H.T.'s service capabilities in petroleum equipment and regional service-station support.

LACROIX has signed an agreement to acquire a 62% majority stake in US-based electronics manufacturer FIRSTRONIC, with Bpifrance's International Build-Up Fund taking a 26% co-investment stake. FIRSTRONIC, an EMS provider with production sites in Michigan and Mexico and roughly 1,300 employees, reported strong growth and is expected to reach about $140m revenue in 2021; the deal strengthens LACROIX's industrial footprint in North America and is expected to be immediately accretive.

Alta Equipment Group Inc. has entered into a definitive agreement to acquire Ginop Sales, Inc., a privately held Kubota equipment dealer with three locations in Northern Michigan. The acquisition expands Alta's construction equipment footprint in Michigan (to ten locations) and strengthens its relationship with Kubota; Ginop reported approximately $65 million of revenue and $6.5 million of adjusted EBIT for the trailing twelve months ended August 2021.

Stewart Information Services Corporation (NYSE: STC) has acquired Devon Title Agency, a Michigan-based title agency with more than 30 years of operations. The acquisition expands Stewart's scale and market presence in Michigan and brings Devon's team, technology and local relationships into Stewart's national title services platform.

Dude Solutions, a Clearlake Capital-backed SaaS provider of operations management solutions, has acquired Facility Health, Inc., a Grand Rapids-based provider of capital planning and asset health analytics software. The add-on acquisition strengthens Dude Solutions' enterprise asset management portfolio and expands its healthcare asset-management capabilities and North American footprint; financial terms were not disclosed.

Dwyer Instruments, a portfolio company of Arcline Investment Management, acquired Universal Flow Monitors, Inc. (UFM), a manufacturer of flow meters and controllers for fluids and gases used in automation, robotics and process automation. The deal adds UFM's ruggedized flow measurement portfolio to Dwyer's sensor and instrumentation offerings to support further growth in niche industrial markets.

Capital Construction, a portfolio company of O2 Investment Partners, has partnered with and acquired Irish Roofing & Exteriors, a Grand Rapids-based roofing and exterior restoration company. The add-on expands Capital's Midwest footprint and provides additional organic and inorganic growth opportunities for the platform.

TriMas (NASDAQ: TRS) announced bolt-on acquisitions of Omega Plastics (added to TriMas Packaging) and TFI Aerospace (added to TriMas Aerospace). Omega, a Clinton Township, Michigan injection-molding and tooling company serving medical and industrial markets, generated about $18M of revenue in 2021; TFI, near Toronto, is a specialty aerospace fastener supplier with about $6M of revenue. TriMas said both targets are private, family-owned companies and expects the deals to expand product offerings and manufacturing capacity while keeping net leverage below 2.0x.

The North American Chassis Pool Cooperative (NACPC) has acquired Pratt Intermodal Chassis, LLC — the intermodal chassis business formerly held within Pratt Industries and owned by LFM Capital. Pratt Intermodal Chassis will operate as a subsidiary of NACPC, while LFM Capital retains Pratt Industries' remaining custom and utility trailer businesses.

Morrie's Automotive Group acquired the Grand Ledge Ford Lincoln and Merrill Ford Okemos dealerships from Barry C. Merrill. The Presidio Group advised the seller on the transaction as Morrie's expands into Michigan, adding the two Ford/Lincoln franchises to its multi-state dealer network.

Aldel Financial, a SPAC, completed its previously announced business combination with Hagerty, creating the public company Hagerty, Inc., which began trading on the NYSE under ticker HGTY on December 3, 2021. FG Financial Group disclosed beneficial ownership of Hagerty shares and warrants and highlighted Hagerty's integrated specialty automotive insurance, membership and media platform as a scalable, multi-revenue business.

Iron Creek Partners led an investment alongside Main Street Capital Corporation to provide growth capital to Credential Check Corporation, a Troy, Michigan–based provider of employment background screening and drug testing services. The transaction closed in August 2021; financial terms were not disclosed.

Trystar, a Goldner Hawn portfolio company, has acquired Controlled Power Company (CPC), a Troy, Michigan-based manufacturer of commercial, industrial, and medical-grade power quality solutions. The acquisition expands Trystar's portable and permanent power distribution offerings to include inverters, high-efficiency transformers, power conditioning, UPS/battery backup and industrial DC (rectifier) solutions, broadening its end markets such as data centers, healthcare, and commercial buildings.

The McGowan Companies acquired certain assets of Cameron M. Wilson & Associates, Inc., effective December 1, 2021; CWA will be rebranded under McGowan Risk Specialists. CWA's staff will remain in place and brokers will receive appointments across McGowan's platform, expanding McGowan's program administration and specialty E&S capabilities nationwide.

Clarivate plc announced a definitive agreement on May 17, 2021 and completed the acquisition of ProQuest on Dec. 1, 2021. Clarivate paid $5.3 billion including refinancing of ProQuest debt (approximately $4.0 billion cash and $1.3 billion equity) to acquire the global software, content, data and analytics provider from Cambridge Information Group and other investors including Atairos to expand its research intelligence capabilities.

Fentura Financial, Inc., the holding company for The State Bank, completed its acquisition of Farmers State Bank of Munith, expanding The State Bank's branch network and market footprint. The transaction grows the combined company to roughly $1.4 billion in assets and increases branch offices to 20; Farmers' president Jeanne E. Richter will join The State Bank as a senior officer and systems integration is planned for Q1 2022.

High Street Insurance Partners (HSIP) acquired Hershey Insurance Agency (HIA), a full-service insurance firm headquartered in Troy, Michigan. The deal expands HSIP’s presence in Michigan and the Midwest as part of its ongoing roll-up strategy of community-focused agencies.

Wildpack Beverage Inc. (TSXV: CANS) has completed the acquisition of KT Murray Corporation dba Land and Sea Packaging, a high-volume aluminum can brokering business based in Grand Rapids, Michigan, for US$37.2 million. The transaction was funded with cash and shares and complements Wildpack's filling, decorating and geographic expansion strategy while adding supply-chain brokering capabilities and an established customer base.

Betsperts Media & Technology Group has acquired 4for4.com, a subscription-based sports betting and fantasy football research and analytics site. The deal adds premium content and decision-support tools to Betsperts' portfolio (including the Fantasy Life app), expanding its audience and subscription offerings.

Protective Industries, a Berwind operating company, has acquired Medbio LLC from Graham Partners. Medbio, headquartered in Grand Rapids, Michigan, is a clean-room contract manufacturer specializing in injection molding and assemblies for medical device, life sciences and biotech customers; the acquisition expands Protective Industries' medical device manufacturing capabilities while representing a portfolio exit for Graham Partners.

ATI Physical Therapy acquired Excel-R-ation Physical Therapy, adding a clinic in Holland and expanding ATI's footprint into the Grand Rapids area of Michigan. The deal brings the locally founded practice (est. 2003) into ATI's national network to strengthen its Michigan portfolio and patient services.

BuildDirect.com Technologies Inc. acquired Michigan-based full-service flooring retailer Superb Flooring & Design LLC for USD $10 million, closing on November 17, 2021. The deal adds Superb's established Pro customer base and on-the-ground installation and project management capabilities (Superb reported >$18M revenue and >$2M EBITDA trailing 12 months), enabling BuildDirect to expand its U.S. mid-West Pro market share and leverage its digital and supply-chain platform.

iQmetrix, a Vancouver-based provider of telecom retail management software, has acquired Viva Tracker, a web-based back-office SaaS solution serving T-Mobile and Sprint wireless retailers. The acquisition brings Viva Tracker's team and capabilities into iQmetrix as a subsidiary to extend iQmetrix's retail management platform and expand market opportunities in the wireless retail channel.

Enmark Systems, the Ann Arbor-based developer of ENITEO ERP for metal service centers, received a significant growth investment from technology-focused private equity firm Accel-KKR. The deal installs Grant Stanis as CEO while founder Michael Rybicki moves to CTO and strategic advisory role, and the capital will be used to accelerate product innovation, customer success initiatives and strategic acquisitions.

Blueprint Education, a portfolio company of New Harbor Capital, has acquired Rosh Review, a provider of online medical exam preparation and continuing medical education. The add-on expands Blueprint's medical education offerings and capabilities across the learner journey, integrating Rosh's subscription-based assessment, analytics and institution-facing dashboards that serve 250,000 learners at 740 institutions.

Pantero, a family-owned packaging and warehouse supply company based in Troy, Michigan, has acquired Ampro Material Handling, a Detroit-area racking and material handling supplier founded in 1969. The deal expands Pantero's material handling capabilities—adding pallet racking, mezzanines, custom fabrication and installation services—to offer more comprehensive warehouse solutions to its customers.

Managed services provider VC3 acquired I.T. Right, Inc., a Michigan-based network consultant for local governments, in a transaction that closed on November 9, 2021. The deal brings I.T. Right’s municipal-focused capabilities and client relationships into VC3’s larger government-focused MSP platform to expand geographic coverage and cybersecurity/service offerings for municipalities.

Solaris Health, a Lee Equity Partners-backed national urology platform, acquired Michigan Institute of Urology (MIU) and closed the transaction on November 5, 2021. MIU — a 19-office, ~60-provider urology practice serving southeastern Michigan — joined Solaris to expand the platform’s scale and clinical capabilities; terms were not disclosed.

London- and Chicago-based private equity firm Nova Capital Management, in partnership with Landon Capital Partners, has acquired Walbro Co. Ltd., a global manufacturer of engine management and fuel systems. Walbro, founded in Michigan and headquartered in Virginia, operates manufacturing sites in multiple countries and employs over 2,300 people; financial terms were not disclosed.

The investment arms of the Nottawaseppi Huron Band of the Potawatomi (Waséyabek Development Company) and the Match-E-Be-Nash-She-Wish Band of Pottawatomi (Gun Lake Investments) have acquired Holland, Michigan-based trucking companies Zip Xpress, Inc. and Green Transportation, Inc. DWH, LLC is managing the partnership; the tribes said the deal supports freight optimization, sustainable solutions and career development (including a driver training pipeline).

Imperial Dade has acquired Nichols Paper & Supply, a Norton Shores, Michigan-based distributor of janitorial supplies and industrial packaging. The transaction — Imperial Dade's 43rd acquisition — expands the company's Midwest presence and integrates Nichols into Imperial Dade's national distribution platform; financial terms were not disclosed.

CORE Industrial Partners formed a new additive manufacturing platform and completed the acquisitions of 3DXTECH LLC, Triton 3D LLC and Gearbox3D LLC. The combined company will provide 3D printers, high-performance filaments and related services from a single 68,000 sq. ft. Grand Rapids, Michigan facility to serve end markets including aerospace, medical and automotive.

Beringer Capital, a North American private equity firm, acquired a majority stake in Detroit-based financial media and analytics platform Benzinga, valuing the company at approximately $300 million. Benzinga founder Jason Raznick will retain a significant ownership stake and continue to lead the business as Beringer supports growth via expanded content verticals, product improvements and deeper B2B partnerships.

Olo Inc. (NYSE: OLO) will acquire Wisely Inc., a customer intelligence and engagement platform for restaurants, for approximately $187 million ($77M cash and $110M in stock). The acquisition expands Olo’s platform capabilities with Wisely’s CRM, CDP, reservations, and guest-engagement tools to deepen restaurant customer relationships and accelerate Olo’s data and marketing offerings.

Flow Control Group, a portfolio company of KKR & Co. Inc., has acquired Shaltz Automation, a Flint, Michigan-based industrial automation solutions provider. Exit Strategies Group served as exclusive financial advisor to Shaltz; deal terms were not disclosed. The acquisition expands Flow Control Group's coverage in the industrial automation segment across North America.

Miner Ltd., the docks and doors division of OnPoint Group, has acquired Great Lakes Dock & Door, a full-service provider of overhead doors and loading dock equipment in Michigan and Ohio. The transaction expands Miner’s geographic footprint into the Midwest and strengthens its local service capabilities for automotive manufacturers, tier-one suppliers and general contractors.

Dictionary.com has acquired Skillo, a learning management system that provides modern training and coaching tools, to expand its education and corporate learning capabilities. The acquisition will integrate Skillo's LMS features into Dictionary.com's suite of educational products to support educators, students, and corporate clients.

FreshEdge, a family of produce and specialty food companies backed by Rotunda Capital Partners, acquired Vine Line, a fresh produce distributor based in Comstock Park (Grand Rapids), Michigan. The add-on expands FreshEdge's footprint in western Michigan, adds a 67,147 sq. ft. facility and additional logistics capacity to support the platform's growing customer base.

Frosch International Travel purchased a 51% interest in the corporate division of Conlin Travel, a Michigan-based travel management firm, while Conlin retains full ownership of its leisure and specialty divisions. The partnership gives FROSCH a larger foothold in the Great Lakes region and provides Conlin access to FROSCH’s global operations platform and technology solutions, with Chris Conlin remaining as Managing Partner.