Acquisitions in Minnesota in 2016

aden + anais, a portfolio company of Swander Pace Capital, has acquired HALO Innovations, a maker of award‑winning wearable blankets and infant sleep products. The acquisition combines complementary juvenile soft‑goods brands to expand product offerings and distribution across major U.S. and international retailers.

Consolidated Lumber Company, doing business as Arrow Building Center, acquired Fullerton Lumber Company from Plymouth, Minnesota-based Fullerton Companies. The Fullerton family engaged Cherry Tree & Associates to run the sale process so Fullerton could exit the lumber and building materials business and focus on its factory-fabricated building systems and finishes operations.

Viking Automatic Sprinkler Company, part of the APi Group family, announced it has welcomed Olsen Fire and Total Life Security into the Viking/APi Group family effective September 1, 2016. The Minneapolis-based businesses provide fire sprinkler design, installation and fire alarm monitoring/services and will expand Viking’s customer base and service capabilities in the Twin Cities market as an add-on to Viking/APi’s platform.

INOF Asset Acquisition, LLC—a company formed by Inno-Flex management and Oxbow Industries, LLC—acquired the assets of Inno-Flex Corporation from Beryl Corporation in an asset sale. Inno-Flex, based in New Hope, Minnesota, manufactures decorative and functional interface products (including membrane switches and in-mold labeling) and has 97 employees; senior debt was provided by MidCountry Bank and the purchase price was not disclosed.

Cirtec Medical, a portfolio company of Century Park Capital Partners, has acquired Stellar Technologies, Inc., a Brooklyn Park, Minnesota-based precision machining and medical component manufacturer. The acquisition expands Cirtec's manufacturing capabilities—particularly in neuromodulation lead wire assemblies, electro-mechanical devices and delivery systems—and establishes a presence in Minnesota's "Medical Alley."

Denver-based Classic Brands LLC has acquired Hiatt Mfg. Corporation of Winona, Minnesota, expanding Classic Brands' product portfolio and distribution reach. The deal adds the Stokes Select bird-feeder brand and broadens the combined company's presence across the lawn & garden, hardware and pet retail channels.

Milestone AV Technologies, a portfolio company majority owned by Pritzker Group (with Duchossois Capital Management as a co-investor), has acquired Vaddio, a Minnetonka-based manufacturer of PTZ cameras and professional AV solutions. The undisclosed-value deal brings Vaddio into Milestone’s family of AV brands and is intended to expand Milestone’s product and service offerings while keeping Vaddio’s operations in Minnetonka, Minnesota.

USI Insurance Services has acquired Hanratty & Associates, Inc., a Plymouth, Minnesota-based employee benefits and consulting firm. The deal expands USI's employee benefits footprint in Minnesota; terms were not disclosed and Hanratty's employees will remain at the Plymouth location.