Acquisitions in Nebraska in 2021

WILsquare Capital, a St. Louis-based private equity firm, has acquired TekBrands, LLC, the Omaha-headquartered owner of AccuQuilt, AccuCut, MemoryStitch and Custom Shape Pros. Management and founders will remain involved post-transaction as WILsquare backs the company to drive the next phase of growth, increase consumer awareness and expand domestic and international distribution; terms were not disclosed.

High Street Insurance Partners (HSIP) has acquired Nebraska-based GTA Insurance Group, adding over 30 offices across Nebraska and expanding HSIP's agricultural insurance capabilities. The deal integrates GTA's local teams into HSIP's national brokerage platform to broaden geographic reach and deepen agribusiness expertise for clients.

Battery Ventures, a technology-focused investment firm, has acquired LI-COR Biosciences, a Lincoln, Nebraska-based maker of analytical and environmental-monitoring instruments and life-science imaging systems. The deal will see LI-COR's CEO Greg Biggs transition to an advisory role while Battery places Thomas Reslewic as CEO and aims to grow LI-COR organically and via targeted acquisitions.

Apple Sun, LLC (an affiliate of Sun Holdings, Inc.) acquired RMH Franchise Holdings, Inc., the second-largest Applebee's franchisee with 131 restaurants across 14 states, from ACON Investments. Financial terms were not disclosed; the deal expands Sun Holdings' footprint into the full-service casual-dining Applebee's system and increases its multi-unit restaurant portfolio.

Horse Power Brands has acquired Heroes Holiday Lighting, Omaha and Lincoln's premier holiday lighting installer, and will rebrand the business as Blingle! The acquisition expands Horse Power Brands' portfolio of home service franchisors and supports a planned nationwide franchising launch and broader outdoor lighting service offerings.

Bushel, an independent ag‑software company based in Fargo, North Dakota, has acquired GrainBridge, a joint venture technology team owned by ADM and Cargill. The deal brings GrainBridge employees into Bushel's Omaha office, expanding Bushel's data science capabilities and broadening its network across grain origination and marketing in the U.S. and Canada.

Great Plains Communications, a Grain Management-backed Midwestern telecom provider, has completed the acquisition of USA Communications, a fiber-focused service provider headquartered in Kearney, Nebraska. The deal expands Great Plains' regional fiber footprint and customer reach in Nebraska and Colorado; financial terms were not disclosed.

American Broadband Holding Company, a PE-backed rural broadband operator, acquired the fiber assets of BNT Broadband and WayneNet to expand its fiber-to-the-home build-out in Wayne, Nebraska. The transaction supports American Broadband's geographic expansion of its 1GB-capable fiber backbone and was announced alongside leadership appointments to support growth.

Van Becelaere Machine Works, a portfolio company of Midwest Growth Partners, completed an add-on acquisition of Superior Metal Products, Inc., a precision machining business based in Omaha, Nebraska. The deal expands Van Becelaere's precision machining platform—broadening capabilities, capacity and Midwest presence—while SMP's owners remain invested and will continue to lead operations.

FoodScience, a portfolio company of Wind Point Partners, has acquired Pet Tech Labs, a contract manufacturer of animal nutritional supplements based in Syracuse, Nebraska. The add-on expands FoodScience's contract-manufacturing capabilities and establishes a Midwest manufacturing and distribution presence while enabling the retiring owners Paul Jonjak and Carol Potter to exit.

Funds advised by Centerbridge Partners and Caisse de dépôt et placement du Québec (CDPQ) will acquire Medical Solutions from TPG Growth in a transaction expected to close in Q4 2021; terms were not disclosed. Medical Solutions, headquartered in Omaha, Nebraska, is a leading provider of healthcare workforce solutions (notably travel nursing and allied staffing) that deployed clinicians to more than 4,500 facilities in 2020; the buyers said they will support the company's next phase of expansion and capability-building.

Honor Technology, Inc. has acquired Home Instead, Inc., combining Honor’s home-care technology and operations platform with Home Instead’s global home-care network to accelerate innovation and improve caregiver and client experiences. The combined organization will operate Home Instead as a subsidiary of Honor and represents over $2.1 billion in home care services revenue; financial terms were not disclosed.

Mid America Pet Food has acquired Nature's Logic, adding the premium natural pet food and treats brand to its portfolio alongside VICTOR and Eagle Mountain. The two companies will continue to operate separately as Mid America — a TA Associates-backed manufacturer — expands its natural and sustainable product offerings.

Bain Capital made a strategic growth investment in Carson Group on July 14, 2021, valuing the Omaha-based wealth management technology and services firm at over $1 billion. The transaction included the purchase of equity interests from Long Ridge Equity Partners and provides Carson Group with additional growth capital to support M&A, technology development, and client experience enhancements while founder Ron Carson remains majority owner.

Patterson Companies, through its subsidiary Patterson Veterinary Supply, acquired substantially all of the assets of Miller Veterinary Supply, a multi-regional veterinary distributor based in West Point, Nebraska. Bridgepoint Investment Banking advised Miller on the sale and had earlier arranged an asset-backed refinancing to position the company for a successful transaction, which Patterson said complements its animal health distribution footprint.

CORE Industrial Partners–backed Arizona Natural Resources (ANR) has acquired Marianna Beauty Holdings, Inc., a long-established Omaha-based contract manufacturer of hair, skin and beauty products. Monroe Capital provided a senior credit facility to support the deal; the combination creates a larger personal-care manufacturing platform with nearly 40 filling lines and roughly 550,000 square feet of combined capacity to serve retail, salon and private-label customers.

Casey's General Stores (NASDAQ: CASY) announced the closing of its acquisition of Buchanan Energy, owner of Bucky's Convenience Stores, adding 94 stores and deepening Casey's Midwest presence, notably in Nebraska and Illinois. The deal increases Casey's owned and operated stores to over 2,300 units; Casey's will divest six stores as required by an FTC consent order.

Ross Aviation has acquired the fixed-base operator (FBO) and maintenance, repair and overhaul (MRO) businesses of Silverhawk Aviation at Lincoln Airport (LNK) in Lincoln, Nebraska. The transaction expands Ross Aviation's geographic footprint in the U.S. Midwest and adds complementary MRO capabilities; Silverhawk's fractional, charter and aircraft management operations (retained by owners Mike Gerdes and John Geary) were not included in the sale.

Denver-based private equity firm Crest Rock Partners announced a strategic growth investment in Jelecos, an Omaha-headquartered AWS-focused technology consulting company. The undisclosed transaction will provide capital and guidance to help Jelecos expand its AWS competencies, hire additional certified technical experts, broaden service offerings, and enter new geographies; Layer 7 Capital arranged the transaction.

House of Outdoors Inc., a portfolio company of Rise Run Capital, acquired the DUX Waterfowl brand on March 31, 2021. The acquisition expands House of Outdoors' portfolio into the hunting apparel segment and was financed with debt from CrossFirst Bank.

Burton Plumbing Services, a ShoreView portfolio company, has acquired Star City Heating & Cooling, a Lincoln, Nebraska-based HVAC services provider. The add-on expands Burton's market coverage into the Lincoln metropolitan area and increases its field technician staff and service vehicle fleet; the deal is ShoreView's first add-on since its March 2020 investment in Burton.

First Student agreed to acquire Mid States School Bus, a Wayne, Nebraska-based provider of school and charter transportation that operates roughly 200 buses across eastern Nebraska and South Dakota. The acquisition expands First Student's Midwestern footprint; Mid States' general manager Dean Carroll will remain in a leadership role. Terms were not disclosed.

LKQ Corporation, through its Elitek Vehicle Services division, acquired Greenlight Automotive, a Nebraska-based mobile vehicle diagnostics business. The deal expands Elitek's mobile diagnostics coverage into the Lincoln and Omaha markets, with Greenlight to be rebranded under Elitek by year-end.

Pharos Capital’s post-acute care platform, Charter Health Care Group, has acquired Omaha-based Physmed Home Health Care and Serene Care Hospice from owner Domer Sodusta. The add-on expands Charter’s home health and hospice footprint into the Omaha market and brings local leadership (CEO Jake Panowicz) into a Charter national role to support growth and clinical quality.

Integrity Marketing Group has acquired CSG Actuarial, a quoting technology and data solutions provider for the senior health and life insurance marketplace. As part of the transaction, CSG principals Bryan Neary and Doug Feekin become Managing Partners at Integrity and CSG will continue to develop its SaaS products while integrating with Integrity's platform and distribution network.

Main Street Capital Corporation provided $17.0 million of debt and a minority equity investment to facilitate a minority recapitalization of Northeast Nebraska Vet Services, PC (NVS) and Heritage Animal Health, supporting the companies’ growth and acquisition strategy. Bridgepoint Investment Banking acted as exclusive financial advisor to the companies on the transaction.