Acquisitions in Mississippi in 2019

HealthEdge Investment Partners, a Tampa-based healthcare-focused private equity firm, completed an acquisition of Legacy-Xspire Holdings, LLC, a Ridgeland, Mississippi-based branded and generic pharmaceutical marketing and distribution platform, on December 18, 2019. The deal adds a pharmaceutical marketing and distribution capability (combining WraSer Pharmaceuticals, Gentex Pharma, and Xpsire Pharma) to HealthEdge's portfolio to support organic growth and product acquisitions across the U.S.

AvidXchange, the Charlotte-based accounts payable and payment automation provider, agreed to acquire BankTEL Systems, a provider of accounting solutions serving more than 20% of U.S. banks. The deal will integrate AvidPay and AvidXchange's network (500,000+ suppliers) with BankTEL's ASCEND banking accounting suite, expanding AvidXchange's capabilities and industry-specific offerings for financial institutions.

Big Black River Holdings, LLC, a portfolio company of Jones Capital, has acquired approximately 55,000 acres of timberland and timber reserves from Anderson Tully Company in southwest Mississippi. BBRH will manage the properties with operational partners Good Hope, Inc. and OneSource, Inc., conducting timber harvesting, reforestation and licensing land for recreational use.

Providence Group, L.P. (Robert Manner's private equity group) acquired Collinsville, Mississippi-based Webster Electric Co., Inc. and affiliated Webco Leasing & Supply, LLC through a newly formed Webster Holding Group, LLC. Assurance Mezzanine Fund provided mezzanine debt to support Providence Group's acquisition.

Union Corrugating Company, backed by Patriot Capital Group and Industrial Opportunity Partners (IOP), has made an investment in Reed's Metals. Bernie Reed and Reed's management retain ownership stakes and will remain in leadership; the two businesses will operate as distinct units while collaborating to expand product offerings and leverage the supply base. Patriot provided additional debt financing alongside Regions Bank.

Oceans Healthcare has acquired the behavioral health operations of Merit Health Biloxi, including the 45-bed Gulf Oaks behavioral health hospital, an outpatient clinic and a therapeutic day school. The facility will be renamed Oceans Behavioral Hospital Biloxi, marking Oceans Healthcare's first expansion into Mississippi.

Kadant Inc. completed the acquisition of Syntron Material Handling Group, LLC from Levine Leichtman Capital Partners. Syntron, based in Tupelo, Mississippi, is a designer and manufacturer of vibratory and conveying equipment serving end markets such as mining, aggregates, and food processing; Kadant said the deal expands its material-handling capabilities and commercial footprint.