Acquisitions in Michigan in 2023

Specialized Packaging Group (SPG), a portfolio company of Altamont Capital Partners, acquired Monroe, Michigan-based Complete Packaging from the Spell Family Office in late 2023. The add-on purchase expands SPG’s engineered/protective packaging capabilities and Midwest footprint while adding roughly 90 employees to SPG’s ~1,600-person workforce.

FirstFruits Farms, a portfolio company of Ontario Teachers' Pension Plan Board, has acquired Applewood Orchards, Inc. and Applewood Fresh Growers LLC. The deal expands FirstFruits' growing, packing and distribution footprint—adding apple acreage, controlled-atmosphere storage and new club apple varieties to better serve customers across the Midwest and East Coast.

Brixey & Meyer Capital (BMC) has acquired Hamlett Engineering Sales Co (HESCO) and Lipp American Tank Systems (LATS), two Novi, Michigan–based service providers and process equipment distributors serving municipal water systems and large waste producers. The businesses were acquired from Kevin Livingston and Glenn Hummel, who will continue to lead and remain as owners; BMC says the investment will expand capabilities and accelerate growth.

CarData Inc. has acquired Michigan-based AutoNetTools to expand its automotive photography, videography and window sticker capabilities. The acquisition adds AutoNetTools' specialized merchandising and marketing services to CarData's existing suite of dealer-focused advertising products.

Rubelmann Capital, a middle-market private equity firm, has acquired John A. Van Den Bosch Co., a fifth-generation pet products distributor and manufacturer of Nature's Window wild bird seed. David Blatte, former CEO and Chairman of Quaker Pet Group and WorldWise Inc., partnered with Rubelmann and will serve as Chairman; current CEO Joel DeBruin will remain in place.

W.W. Grainger, Inc. has sold its subsidiary E&R Industrial Sales, Inc. to Paradigm Equity Partners. Terms were not disclosed; Grainger said the sale lets it focus on its core MRO business while E&R will pursue growth under Paradigm's ownership.

Huizenga Group Automation’s portfolio company Bulldog Factory Automation has acquired Spectrum Automation Company, a Livonia, Michigan-based designer and manufacturer of parts feeding and material handling systems. The deal brings Spectrum’s 24,600 sq. ft. facility and decades of experience (founded 1969) into the Huizenga automation platform as an add-on to expand capabilities across automotive, medical and food & beverage end markets.

Boxwheel Trailer Leasing, a Denver-based trailer rental and leasing operator backed by Crosstimbers Capital Group, acquired the assets of Detroit-area Twin Bridges Enterprises. The asset purchase expands Boxwheel’s geographic coverage in the Detroit market as part of its ongoing acquisitive growth strategy supported by Crosstimbers and lenders.

American Industrial Partners Capital Fund VII (AIP Fund VII) has acquired Veoneer’s Restraint Control Systems business from SSW Partners LP. The transaction, announced December 6, 2023 and completed March 1, 2024, completes the disposition of Veoneer’s original business lines and provides a standalone platform for long-term growth under AIP ownership.

NFP has acquired Flynn Benefits Group, a Troy, Michigan-based benefits and insurance firm that specializes in executive, group and individual health and disability products. The acquisition, which closed August 1, 2023, brings Flynn's founders and team into NFP to scale the firm's benefits presence across the Detroit metro area and broader Michigan market.

SWBC's fintech subsidiary SWIVEL Transactions, LLC has acquired Magic-Wrighter, Inc., a Grand Rapids-based payments and ACH service provider. The acquisition expands SWIVEL's payment capabilities—including dealer funding, direct ACH processing, and K-12 school payment solutions—and broadens its reach into banks, credit unions, merchants, and school districts.

Solaris Health Holdings announced that Urologic Consultants of Grand Rapids, Michigan, has joined Solaris as an affiliate. The transaction—backed by Solaris financial partner Lee Equity Partners—adds 10 providers and expands Solaris’ urology platform presence in West Michigan; terms were not disclosed.

Parallel ENT & Allergy, a PE-backed practice management platform, has added Michigan ENT and Allergy Specialists as a supported practice. The partnership (advised by FOCUS Investment Banking) will provide Michigan ENT with non-clinical support — including HR, IT, finance and revenue cycle management — while enabling continued clinical focus and growth.

Komatsu, through its U.S. subsidiary Komatsu America Corp., agreed to acquire Detroit-based battery manufacturer American Battery Solutions (ABS), with the deal expected to close Dec. 1, 2023. Komatsu will integrate ABS' lithium‑ion battery technology to accelerate development of battery-powered construction and mining equipment while allowing ABS to operate as a stand‑alone business within Komatsu.

Arthur J. Gallagher & Co. acquired certain assets of the retail agency business of Coverys Insurance Services, an East Lansing, Michigan-based insurance broker specializing in medical malpractice and professional liability. Terms were not disclosed and the Coverys Insurance Services team will remain in East Lansing under the direction of Ryan Isaacs as part of Gallagher's Midwest retail P/C brokerage operations.

Caymus Equity Partners LLC has acquired Quality Environmental Services, LLC, a Beaverton, Michigan–based provider of environmental remediation services. The investment — Caymus Equity's third from Fund II and fifteenth platform investment overall — will provide capital to expand Quality's service offerings, enter new geographies and verticals, and pursue strategic acquisitions.

Walstrom Marine has acquired Grand Bay Marine, a Michigan-based full-service boat dealership with locations in Traverse City and Charlevoix. The seller, Liz Carney and her family, will assist with the transition while Grand Bay's 38 employees remain; the deal expands Walstrom's footprint across the Great Lakes and adds the Regal brand to its portfolio. The investor group led by Continuum Ventures (the DeVos family office) — which previously invested in Walstrom — will own Grand Bay through their stake in Walstrom.

BAXUS, a blockchain-enabled marketplace for wine and spirits, has acquired BoozApp, a mobile app that tracks pricing and values for tens of thousands of liquor bottles and serves over 100,000 users. The acquisition will integrate BoozApp's pricing transparency and collection-tracking features into BAXUS's marketplace and custody/insurance services to expand capabilities and reach among casual buyers, collectors and retailers.

Hubbell Incorporated agreed to acquire Systems Control (Northern Star Holdings, Inc.), a manufacturer of substation control and relay panels headquartered in Iron Mountain, Michigan, for $1.1 billion in cash. The transaction — previously announced Oct 2023 — closed in December 2023; Systems Control reported estimated 2024 sales of approximately $400 million and was a Comvest Partners portfolio company since 2018.

Kymera International has acquired the majority of assets of KDF Fluid Treatment, Inc., a Three Rivers, Michigan-based maker of copper-zinc process media for water and industrial treatment systems. The asset purchase (terms undisclosed) expands Kymera's specialty materials portfolio into the water filtration market and adds complementary brass powder media capabilities; Kymera is PE-backed by Palladium Equity Partners.

Veolia North America has completed the acquisition of U.S. Industrial Technologies (USIT), a Michigan-based provider of hazardous, non-hazardous and recyclable industrial waste management services. The deal adds USIT's main operations in Livonia, Michigan and an operation in Knoxville, Tennessee, bringing more than 70 employees into Veolia's Environmental Solutions and Services division and expanding its hazardous waste treatment capacity and U.S. market share.

MPE Partners announced that its newly formed Appearance Technology Group (ATG) has acquired RBL Products and Kwik Paint Products. The add-on expands ATG's branded portfolio of vehicle detailing, masking and paint-preparation consumables, and was completed in partnership with RBL's founder Ron Lipson and management.

Metalcraft of Mayville (MOM), a Wisconsin-based metal fabricator and manufacturer, has acquired Bluebird Turf Products of Auburn Hills, Michigan. MOM will retain the 21 existing employees at the Auburn Hills location and expects the deal to expand product offerings for Scag dealers while giving Bluebird’s rental network access to Scag turf renovation and debris products.

The Schockman Lumber Group of St. Henry, Ohio has acquired Iverson's Lumber, an independent lumber yard with locations in Highland Township and Montrose, Michigan. The acquisition, advised by Calder Capital, transfers ownership from third-generation owner Todd Iverson and partners Morrey Law and Mark Hamlin and will expand Schockman’s market reach and service offerings.

MPE Partners (Morgenthaler Private Equity) announced an investment in Mid-States Bolt & Screw Co., a value-added distributor of fasteners and MRO products. The transaction partners MPE with the Somers family to support Mid-States' next phase of growth, including improved product availability and organic and inorganic geographic expansion.

Arthur J. Gallagher & Co. acquired the assets of Southfield, Michigan-based Meadowbrook Insurance Agency, including affiliated agencies The Protection Center (Jackson, MI) and Kleinschmidt Agency, Inc. (Ann Arbor, MI). The acquisition expands Gallagher’s retail brokerage footprint and deepens its capabilities in public entity, manufacturing and real estate markets in Michigan.

Cosmetic Skin & Laser Center (a portfolio company of Incline Equity Partners) has acquired Procerus Skin Care, a medical spa based in Ann Arbor, Michigan. The add-on transaction, advised by Generational Equity, closed on October 3, 2023 and expands CSLC’s footprint and aesthetic service offerings in Michigan.

Stabilus SE has signed an agreement to acquire the DESTACO business from Dover Corporation, a transaction expected to close in the first half of 2024 subject to customary approvals. DESTACO, headquartered in Auburn Hills, Michigan, supplies industrial automation, workholding and robotic tooling and generated $213 million in revenue in 2022 with ~650 employees; Stabilus says the deal significantly strengthens its Industrial Automation capabilities and will positively impact adjusted EBIT upon consolidation.

Unity Partners announced a strategic partnership and investment in Tropolis, an Ann Arbor-based insurance brokerage platform founded by Jeff Mason, Jim Ryans and Ben Calnin. The partnership will support Tropolis as a platform to acquire independent P&C and employee benefits brokerages, driving organic and inorganic growth, technology adoption and employee ownership opportunities.

Getinge (Gothenburg, Sweden) has acquired 100% of Healthmark Industries Co. Inc. (Fraser, Michigan, USA) for approximately USD 320 million, a deal that closed following the HSR waiting period. Healthmark, a maker of instrument-care and infection-control consumables with ~400 employees and expected FY2023 net sales of about USD 126 million, will complement Getinge’s sterile reprocessing equipment, consumables and software and accelerate Healthmark’s international expansion.

Rockbot has acquired Nerdy Bunny, an interactive signage and retail display solutions platform, to strengthen its in-store media and experiential retail capabilities. The deal brings Nerdy Bunny's interactive merchandising, TV demo experiences and retail media ad-serving solutions into Rockbot's unified CMS platform to better serve retailers and brands.

The Tyrolit Group acquired all outstanding stock of Acme Holding Company (Acme Abrasives) at the end of September 2023, adding a U.S. manufacturing plant in Michigan to Tyrolit’s global abrasive solutions footprint. The acquisition expands Tyrolit’s product portfolio and strengthens its position in key end markets including steel, foundry and rail.

Sila Services, a home services platform, has acquired Levine & Sons, a Southfield, Michigan-based residential HVAC and plumbing business, as part of its geographic expansion into Michigan. The deal brings Levine's long-tenured customer base and service team into Sila's platform and was completed in partnership with the Levine family.

Metra S.p.A., a portfolio company of KPS Capital Partners, completed the acquisition of Extruded Aluminum Corporation (EAC), a U.S. manufacturer of custom extruded aluminum profiles and value‑added fabrication, assembly and finishing services. EAC operates two facilities in Belding and Kentwood, Michigan with approximately 170 employees; the deal advances Metra's North American expansion and end‑market diversification, including entry into utility‑grade solar.

U.S. Waterproofing, a portfolio company of Rotunda Capital Partners, has acquired Foundation Solutions 360 (FS360), a Fraser, Michigan-based residential foundation repair and basement waterproofing services provider. The deal expands U.S. Waterproofing's Midwest footprint and service capabilities; FS360 founder Joe Marth will remain overseeing operations as the combined platform pursues further growth and add-on acquisitions.

Rhino Tool House, a Concord, North Carolina-based value-added distributor, has acquired TMI Supply Company of Grand Rapids, Michigan to expand its western Michigan footprint and broaden product and service offerings. The transaction is an add-on to the Rhino platform during its partnership with private equity backer Blue Sea Capital, and TMI founder Tim Montsma will assume a leadership role with the combined company.

Altair (Nasdaq: ALTR) acquired OmniQuest, a Novi, Michigan-based developer of Genesis, an advanced structural optimization and finite-element analysis software. The deal adds OmniQuest's optimization algorithms and expertise—used across automotive, motorsport (Formula 1) and aerospace applications—to Altair's simulation and AI product portfolio to strengthen its optimization capabilities.

Food-as-medicine platform Tangelo has acquired digital health company Diet ID, integrating Diet ID’s validated dietary assessment technology and team into Tangelo’s offerings. The acquisition brings Diet ID’s IP and clinical leadership (including founder Dr. David L. Katz) to Tangelo to expand capabilities for rapid dietary assessment, personalized diet prescriptions, digital coaching, and medically tailored food solutions.

ENTACT, a portfolio company of J.F. Lehman & Company, has completed the acquisition of White Lake Dock & Dredge, a specialist in environmental dredging, sediment capping, and marine construction. The deal is an add-on to ENTACT's remediation platform intended to expand its sediment remediation capabilities and better serve public- and private-sector clients across the United States.

The Riverside Company has invested in Eastman Fire Protection, a Troy, Michigan-based fire protection business, as the 21st add-on to its CertaSite platform. The acquisition expands CertaSite’s commercial fire protection and life-safety capabilities and increases route density and technical capacity in Eastern Michigan to offer sprinkler, alarm, backflow prevention and related services to Eastman’s customers.

CertaSite, a commercial fire protection and life safety company headquartered in Indianapolis, has acquired Eastman Fire Protection of Troy, Michigan. The acquisition — CertaSite's eighth in Michigan — expands its local footprint and capabilities; all Eastman employees were retained and the business will operate within the CertaSite platform.

BMH Equipment, LLC has acquired Myers Forklift, LLC of Dowagiac, Michigan. The deal—driven by the Myers' retirement—adds a material-handling dealership to BMH's portfolio to expand its service footprint in Southwest Michigan; terms were not disclosed.

Revival Animal Health has purchased Breeder's Choice, a Rochester Hills, Michigan-based distributor of equine reproductive supplies. The acquisition expands Revival’s reproductive and neonatal health offerings into the equine market and brings Breeder's Choice’s expertise in semen collection, processing, and shipping into Revival’s portfolio.

Munetrix, a K-12 performance analytics platform based in Michigan, has acquired Eidex, a K-12 data visualization and analytics firm. The deal combines Eidex's visualization capabilities with Munetrix's data consolidation platform to expand product offerings, accelerate innovation, and broaden reach across K-12 districts.

Veterinary United of Southeastern Michigan has acquired Waverly Animal Hospital in Lansing, Michigan, in a deal advised by Calder Capital. Founders Dr. Jennifer and Will Raphael will remain involved in day-to-day operations while the practice becomes part of Veterinary United’s 22-location network; terms were not disclosed.

RelaDyne, the national lubricant distributor, has acquired Great Lakes Lubricants, a Grand Rapids, Michigan–based petroleum products and lubricants distributor with three locations across the state. The deal expands RelaDyne’s presence and product/service offerings in Michigan and strengthens its capabilities in commercial fleet and industrial manufacturing markets.

An affiliate of H.I.G. Capital has signed a definitive agreement to acquire Ascent Global Logistics from affiliates controlled by Elliott Investment Management. Ascent's management team and Elliott will retain minority stakes; H.I.G. said it will support Ascent's growth by investing in technology, broadening capabilities, expanding global reach and enhancing its carrier network.

Northwest Hardwoods (NWH) has acquired Post Hardwoods, a Michigan-based hardwood supplier and sawmill founded in 1980 by brothers Bob and Junior Post. The deal adds Post Hardwoods' Glacial-species log sales, sawing capabilities and a 13,500-square-foot sawmill facility to NWH's supply chain, enhancing product variety and sourcing flexibility; terms were not disclosed.

Motion & Control Enterprises (MCE), a portfolio company backed by Frontenac, acquired Ultimation Industries, LLC, a Roseville, Michigan-based manufacturer and integrator of conveyor and material handling systems. The deal expands MCE's engineered automation and material handling capabilities and significantly enhances its e-commerce distribution channel for customers across the U.S., Latin America and Europe.

Summit Fire Protection Co., a subsidiary of SFP Holding, Inc. (Summit Companies), acquired Legacy Fire & Safety LLC, effective August 16, 2023. The small, veteran-owned Lake City, Michigan business will be served by Summit's Traverse City branch as Summit expands its regional fire protection and life safety services.