Acquisitions in Minnesota in 2018

American Construction Source (a Clearlake portfolio company), together with Angeles Equity Partners, acquired Arrow Building Center (also known as Consolidated Lumber Company) from Aiglon Capital. Based in Stillwater, Minnesota, Arrow operates 16 branches across Wisconsin and Minnesota and serves more than 1,000 professional contractors, home builders and DIY customers; the deal was an add-on to ACS’s platform to expand its Midwest footprint.

Visual Communications Company (VCC) has acquired Wilbrecht LEDCO, Inc., a St. Paul, Minnesota-based electronic components manufacturer known for illuminated indicators and LED products. The acquisition expands VCC's product portfolio—adding night-vision compatible panel-mount LEDs, sealed high-IP indicators and high-voltage LED series—and strengthens its offerings to mission-critical industrial, aerospace and military end markets.

Stamford-based private equity firm Olympus Partners has acquired Rise Baking Company, a Minneapolis-headquartered manufacturer of premium cookies, dessert bars, artisan breads, and flatbreads, from Arbor Investments. Rise employs over 1,000 people across six North American facilities; Olympus said it will partner with management to continue organic growth and pursue transformational acquisitions to expand the business.

Pilot Freight Services has acquired Manna Freight Systems, a Mendota Heights, Minnesota-based final-mile logistics provider, to expand its last-mile and heavy/hard-to-handle (H3D) delivery capabilities, particularly for furniture and appliances. The deal brings Manna's team and technology into Pilot's operations and increases Pilot's domestic footprint and service offering; financial terms were not disclosed.

R2P Pet, a pet products manufacturer, has acquired Ultra Paws, a Minnesota-based maker of dog boots, apparel and outdoor accessories. The acquisition will provide Ultra Paws with greater resources to expand product lines, innovate into new categories and broaden domestic and international distribution channels.

Microsoft has acquired Flipgrid, a video-based social learning platform used by educators and students in over 180 countries. The acquisition brings Flipgrid's engagement-focused edtech capabilities into Microsoft's education portfolio, with Microsoft keeping the Flipgrid brand and making the platform free for schools.

PolyOne Corporation acquired PlastiComp, an advanced engineered materials innovator known for long fiber thermoplastic (LFT) composite formulations. The Winona, Minnesota facility and approximately 50 employees join PolyOne’s Specialty Engineered Materials segment to expand its advanced composites capabilities and accelerate commercial and operational investments in LFT technology.

USI Insurance Services has closed the acquisition of CHS Insurance, the agribusiness insurance brokerage formerly part of CHS Inc.; terms were not disclosed. The deal expands USI’s capabilities and footprint in agribusiness, food processing and cooperative insurance and brings the CHS Insurance team onto USI’s national platform.

Clearlake Capital Group has acquired Provation Medical from Wolters Kluwer, making Provation a newly independent software platform to accelerate growth. Provation is a leading provider of procedure documentation, coding, and clinical decision-support software used by hospitals and ambulatory surgery centers; Clearlake intends to support product investment and pursue a buy-and-build growth strategy.

ASRC Industrial Services (AIS), a Concord, California-based industrial and environmental services provider and subsidiary of Arctic Slope Regional Corporation, has acquired Mavo Systems, a White Bear Lake, Minnesota-based environmental and specialty services contractor. Mavo will become the foundation of AIS's Remediation and Response operating group, expanding AIS's remediation, abatement, demolition and emergency response capabilities in the Upper Midwest.