Acquisitions in Mississippi in 2023

Kansas Golf & Turf (a portfolio company of Strength Capital Partners) has merged with Ben Nelson Golf & Outdoor, an award-winning distributor and dealer of golf cars, utility vehicles, trailers and turf equipment. Ben Nelson Golf & Outdoor operates three locations in Madison and Biloxi, Mississippi and Memphis, Tennessee with ~50 employees; the combined KGT/BNG business will operate from five strategic locations to expand geographic reach and service capabilities across the Midwest, Southeast and Southwest United States.

Atlanta-based growth equity firm Fulcrum Equity Partners has acquired Defining Wellness Centers, a substance use disorder treatment provider based in Mississippi. Fulcrum has appointed industry veteran Drew Rothermel as CEO and plans to expand the center's programs and replicate the model in additional geographies to grow its behavioral health presence.

Bradford Health Services has acquired Vertava Health of Mississippi, a residential behavioral-health campus in Southaven, Mississippi. The acquisition expands Bradford’s footprint in North Mississippi and the greater Memphis region and will be integrated into Bradford’s network of treatment centers to enhance local addiction and mental health services.

EIS, a North American specialty distributor of electrical process materials, has acquired Power Grid Supply, a supplier of transformer parts and components. The acquisition expands EIS's product portfolio and aftermarket capabilities for transformer OEMs, remanufacturers, field service contractors, and utilities, and will support geographic expansion across North America.

TRG, LLC has acquired MS Rubber Company, a Jackson, Mississippi-based industrial supplier and fabricator of rubber products; the transaction closed on September 12, 2023. MS Rubber (founded 1963) supplies hydraulic hoses, fittings, belts, gaskets and related products across Mississippi and the Southern U.S.; TRG (headquartered in Appleton, Wisconsin) said the acquisition expands its footprint and sealing/distribution capabilities in the Southeastern United States.

Arthur J. Gallagher & Co. acquired Columbia, Mississippi-based Southern Insurance Group, LLC. The acquisition expands Gallagher's retail property/casualty brokerage presence in Mississippi and the Southeast U.S.; Southern Insurance Group's team will remain in place and operate under Gallagher's Mid-South brokerage leadership.

Full Guard Capital has partnered with Perimeter Insect Guard in a recapitalization transaction announced in August 2023, with subordinated debt and equity provided by Tecum Capital and Spring Capital Partners to support the deal. Perimeter, headquartered in Taylorsville, Mississippi, is the largest provider of insecticide treatment services for military uniforms and will continue to be led by management following the transaction.

Ross & Yerger, a long-established Jackson-based insurance agency, has completed a strategic merger with Element Wealth of Ridgeland to expand its wealth management and financial planning capabilities. The integration brings Element Wealth’s advisory services into Ross & Yerger’s platform to offer clients a more comprehensive suite of insurance, retirement and investment solutions.

Border States has agreed to acquire Sequel Electrical Supply LLC, a Meridian, Mississippi-based electrical distributor with more than 220 employees and 18 locations across the U.S. Gulf Coast. The acquisition expands Border States' employee-owned distribution footprint into four additional states (Louisiana, Mississippi, Alabama and Florida) and adds complementary construction and industrial customers.

Beacon Building Products (NASDAQ: BECN) has completed the acquisition of All American Vinyl Siding Supply, LLC, a Tupelo, Mississippi-based vinyl siding and exterior building products supplier. The deal expands Beacon’s branch footprint and product/service coverage in northern Mississippi, adding the All American team and its local market knowledge to Beacon’s network.

Carr's Hill Capital Partners (CHP) has partnered with founders Shaw and Tom Matthews to recapitalize Matthews Brothers Dredging (MBD) and support the company's expansion across U.S. Gulf Coast markets. As part of the transaction, Declan Rushe was named CEO to lead growth of the marine infrastructure and mechanical dredging business, which is based in Pass Christian, Mississippi and provides recurring maintenance and capital dredging services.

WTWH Media, a Mountaingate Capital portfolio company, has acquired PMQ Pizza, the leading B2B media brand for the pizza restaurant industry. The deal expands WTWH Media's Foodservice, Retail, and Hospitality network and represents an early add-on as WTWH executes a buy-and-build strategy with Mountaingate Capital.

Tech24, a national foodservice and commercial HVAC repair platform backed by HCI Equity Partners, acquired Total Mechanical Repair Services (TMR) on May 24, 2023 as its sixteenth add-on. The acquisition expands Tech24’s service footprint in Southern Mississippi and provides access to adjacent Louisiana markets; financial terms were not disclosed.

Southern Energy Corp. entered into a definitive purchase and sale agreement to acquire the remaining producing acreage in the Gwinville Field (Jefferson Davis County, Mississippi) from PetroTX Energy, LLC for $3.2 million. The acquired assets produce roughly 400 boe/d (predominantly natural gas), add inventory and reserves, and are expected to generate immediate operating synergies and >30% operating cost savings when integrated with Southern's existing Gwinville operations.

Bobcat Power Holdings, a Cotton Creek Capital-backed provider of substation development and maintenance services, has acquired Chancellor Construction, a Hattiesburg, Mississippi-based substation repair and maintenance contractor. The acquisition expands Bobcat's coverage, complementary service capabilities and capacity across the U.S. Southeast; Chancellor will remain led by its existing management team.

All States Ag Parts, backed by Kinderhook Industries, has acquired Steel Tracks, Inc., a distributor of steel and rubber tracks and aftermarket undercarriage parts. The add-on expands ASAP’s product offering into steel tracks and strengthens its position in the aftermarket undercarriage parts market serving heavy construction equipment dealers.

Sedgwick has acquired Appraisal Service of Mississippi, Inc. (ASM), a regional provider of auto and property appraisal services. The deal expands Sedgwick's field appraisal capacity and regional footprint across Alabama, Louisiana, Mississippi and the Memphis, Tennessee metro, adding specialized expertise in automobiles, heavy equipment and recreational vehicles.

INDEVCO North America has acquired Perma R Products, a family-owned manufacturer of rigid foam insulation, building wrap and roof underlayment with manufacturing plants in Mississippi, Georgia and Tennessee. The acquisition integrates Perma R into INDEVCO Building Products to broaden INDEVCO’s building envelope portfolio, expand capabilities in rigid foam insulation, and serve additional channels and territories across the U.S.

Glenview, Ill.-based Envoy Solutions has acquired Flowood, Mississippi-based Delta Packaging & Supply, a regional distributor of flexible packaging materials, custom poly bags, tapes, strapping and automated packaging equipment. The deal expands Envoy Solutions' national packaging footprint and strengthens its presence in the Southeast as an add-on to its family of regional distributors.