Acquisitions in Mississippi in 2021

Sterling Construction Company, Inc. has acquired Kimes & Stone, a soil stabilization and site development services provider, in an all-cash transaction for $7.6 million (approximately 3–4x EBITDA). The acquisition includes Kimes’ equipment fleet, working capital and management team, and is intended to vertically integrate Sterling’s specialty infrastructure services and expand capacity and geographic footprint across the U.S. Southeast.

ARCH Medical Solutions (an ARCH Global Precision company and Jordan Company platform) has acquired Medical Machining Specialists (MMS), a surgical-instrument manufacturer based in Olive Branch, Mississippi. The acquisition adds MMS’s 20,000-square-foot facility and ~65 employees to ARCH Medical Solutions’ Memphis footprint, expanding capabilities in precision surgical instruments for spine, orthopedic and trauma markets.

Weinberg Capital Group has acquired Drake Waterfowl Systems, a branded outdoor apparel company for hunters and anglers. Northstar Capital provided subordinated debt and an equity co-investment to help finance the transaction alongside Weinberg. The deal positions Drake for growth as a consumer outdoor-apparel platform under Weinberg's ownership.

Weinberg Capital Group, a Cleveland-based family office, has acquired Drake Waterfowl Systems, a Mississippi-based maker of hunting, fishing and casual outdoor apparel. WCG said it will partner with Drake's management to grow the business and is actively seeking add-on acquisitions to expand the Drake platform across retail and direct-to-consumer channels.

CoreLogic has completed the acquisition of Next Gear Solutions, a cloud-based workflow platform provider for the property restoration industry. Next Gear, which was backed by Serent Capital, will combine its claims workflow products with CoreLogic’s Claims Connect and property data/analytics; Serent and other Next Gear shareholders rolled equity and will become significant investors in CoreLogic.

Atlantic Southern Paving & Sealcoating, a PE-backed national commercial pavement maintenance platform, has acquired Murphree Paving of Tupelo, Mississippi as its second add-on. The acquisition, executed under Atlantic Southern's partnership with Harbor Beach Capital (and Aldine Capital Partners per one announcement), expands Atlantic Southern’s geographic footprint across the southeastern United States and strengthens its commercial pavement maintenance capabilities.

Precision Aviation Group (PAG), a GenNx360 Capital Partners portfolio company, has acquired Trace Aviation Group of Jackson, Mississippi. The add-on expands PAG's landing gear MRO capabilities—particularly for Beechcraft King Air/1900 landing gear exchanges and overhauls—and gives Trace access to PAG's $50M rotable inventory to broaden product and service offerings.

Green Meadow Sustainable Solutions, a PE-backed environmental services platform led by investors including Bernhard Capital Partners, acquired Riverbend Environmental Services LLC in November 2020. The deal adds a landfill in Jefferson County, Mississippi and transfer stations in Vicksburg, Mississippi and Baton Rouge, Louisiana to Green Meadow's operations and supports planned infrastructure upgrades, workforce investment and continued municipal contracts.

PSG, a growth equity firm, has made a strategic investment in SchoolStatus to accelerate the K-12 edtech company’s growth and product innovation. The minority growth capital will support expansion of SchoolStatus’ student-data aggregation and two-way communications platform used by school districts and educators across the United States.

U.S. Orthopaedic Partners (USOP), a PE-backed integrated orthopedic care platform, entered a strategic partnership with Orthopaedic Institute of North Mississippi (OINM), a multi-office orthopaedic practice based in Tupelo, Mississippi. The deal brings OINM’s four locations and physician team onto USOP’s management platform, allowing the practice to retain operational autonomy while expanding USOP’s footprint in northern Mississippi and the broader Southeast.

An affiliate of Gemspring Capital Management has acquired a majority interest in Zavation Medical Products, a Flowood, Mississippi-based designer and manufacturer of spinal hardware and biologics. Zavation's management, led by CEO Jeffrey Johnson, retained a significant investment and will continue to run the business as Gemspring provides capital and resources to expand the product portfolio and pursue strategic acquisitions.

Business First Bancshares, Inc. (the holding company for b1BANK) signed a definitive agreement to acquire Smith Shellnut Wilson, LLC (SSW), a registered investment adviser headquartered in Ridgeland, Mississippi. The acquisition will consolidate b1BANK's Wealth Solutions Division with SSW, expanding the bank's investment advisory capabilities and product offering to corporate, foundation and individual clients.

U.S. Orthopaedic Partners (USOP), a PE-backed integrated orthopedic care platform, acquired Jackson Anesthesia Pain Center (Jackson Pain Institute) and Oxford Orthopaedics and Sports Medicine, PLLC, expanding its physician network and service footprint in Mississippi. The acquisitions are add-on deals to USOP’s platform, which was formed following an investment from FFL Partners in October 2020; financial terms were not disclosed.

MedData, a portfolio company of Edgewater Growth Capital Partners IV, has acquired RevClaims, LLC, a specialist in complex claims revenue cycle management including third-party liability, workers' compensation and Veterans Administration claims recovery. The add-on expands MedData’s capabilities in complex claims recovery as it pursues niche RCM acquisitions to broaden its service offering and geographic presence.

Corcentric has acquired Vendorin from Juvo Technologies for $100 million to expand its payments, supply chain finance, and AP/AR capabilities. The acquisition adds Vendorin’s Inroll supplier enrollment technology and integrated B2B payments network to Corcentric’s procurement and revenue management suite.

New York-based private equity firm Blue Wolf Capital Partners announced an investment in Vicksburg Forest Products, a family-owned Southern Yellow Pine sawmill headquartered in Jackson, Mississippi. The capital will support a major capacity expansion (including a new chip-n-saw line and dry kilns) to increase output to about 180 million board feet annually and add roughly 60 jobs; terms were not disclosed.

New Orleans-based private equity firm LongueVue Capital has completed a recapitalization and growth investment in Summit Plastics, partnering with CEO Tom Nathanson and the company's management team. Summit Plastics, headquartered in Summit, Mississippi, is a niche B2B manufacturer of custom LLDPE blown film and bags serving food & beverage, industrial, and healthcare end markets; Origin Bank provided senior debt for the transaction.

HUB International Limited acquired the assets of MPE Employee Benefit Services, a Ridgeland, Mississippi-based third-party administrator specializing in employee benefits plan design and administration. Terms were not disclosed; MPE President Bill Saint Sing will join HUB Gulf South as part of the transaction as HUB strengthens its employee benefits capabilities in the Jackson, Mississippi market.

MiddleGround Capital acquired Attala Steel Industries, a manufacturer of steel foundation products for utility‑scale solar, and will integrate the business with its existing portfolio company EDSCO Fasteners. Attala, headquartered in Kosciusko, Mississippi with an additional facility in Hillsboro, Texas, will continue operating under its management with founder Billy Atwood remaining an investor and board member while Kevin Heskett is expected to lead the combined business.