Acquisitions in New Jersey in 2020

Central Garden & Pet has entered into an agreement to acquire Hopewell Nursery, a live goods grower headquartered in Bridgeton, New Jersey. The acquisition expands Central's live goods business and scale in the Northeast; Hopewell operates over 1,800 acres, employs approximately 500 people, and the deal is expected to close December 31, 2020 (terms undisclosed).

KFT Fire Trainer, a Montvale, New Jersey-based maker of computer-controlled live-fire training systems, was sold by Keystone Capital to an investor group led by KFT management. Greenwich Capital Group served as exclusive financial advisor to Keystone Capital on the transaction.

Corridor Capital has made a platform investment in CEO Warrior, a New Jersey–headquartered provider of subscription-based business training and implementation services for contractor services businesses, in partnership with the company’s management. True West Capital Partners also participated alongside Corridor, with Comerica Bank providing a senior credit facility to support the transaction; management founders Michael Agugliaro and Robert Zadotti remain material owners and will continue in leadership roles.

The SCHLEIFRING Group, a subsidiary of Wegmann Group, has acquired Electro-Miniatures Corporation (EMC), a Moonachie, New Jersey-based maker of slip ring assemblies. The acquisition expands SCHLEIFRING's technical capabilities and geographic reach into North America; transaction terms were not disclosed.

Sycamore Partners, through affiliate Premium Apparel LLC, completed the purchase of the Ann Taylor, LOFT, Lou & Grey and Lane Bryant brands from ascena retail group as part of Ascena’s Chapter 11 restructuring. Premium Apparel committed to retaining a substantial portion of the brands’ retail stores, associates and corporate operations as Sycamore expands its retail portfolio.

The Vortex Companies, LLC has acquired North American Pipeline Services, LLC (NAP), expanding Vortex’s trenchless infrastructure service capabilities and presence in the Mid-Atlantic. NAP, founded in 1974 and now based in Freehold, New Jersey, employs about 55 people and provides CCTV inspection, pipe bursting, CIPP lining and other sewer and water rehabilitation services.

Honeywell has agreed to acquire Sparta Systems from New Mountain Capital for $1.3 billion in an all-cash transaction. Sparta Systems is a provider of enterprise quality management software (QMS) and a next-generation SaaS platform for the life sciences industry; Honeywell will integrate Sparta into Honeywell Forge to expand its life sciences and software capabilities.

Amulet Capital Partners (a healthcare-focused private equity firm) made a growth equity investment in SSI Strategy Holdings LLC, a Parsippany, New Jersey-based life sciences consulting firm, to accelerate the company’s growth and expand strategic services including a new Gene Therapy Accelerator. The capital will fund team expansion, adjacent service lines and potential tuck-in acquisitions; Simon Kennedy joined SSI Strategy's board in conjunction with the investment.

US LBM has acquired Tri-County Building Supplies, a regional building materials distributor in southern New Jersey. Tri-County — founded in 1964 and operating multiple locations including a 14-acre flagship in Pleasantville with a 60,000 sq. ft. warehouse and showroom — will operate as part of US LBM’s Universal Supply Company; the JIAN Group acted as financial advisor to Tri-County.

The Hilb Group, LLC (THG) acquired Montclair, New Jersey-based insurance brokerage William H. Connolly & Co., LLC, effective December 1, 2020. The deal brings William H. Connolly, Jr. and his team into THG's Tri-State operations and expands THG's property & casualty insurance capabilities in the region.

Excel Orthopedic Rehabilitation, a portfolio company of Caymus Equity Partners, acquired Family Focus Physical Therapy P.A., an outpatient physical therapy provider serving southern and central New Jersey. The deal, closed in December 2020, is the fourth strategic acquisition by Excel since Caymus Equity partnered with other investors in a majority recapitalization in 2016.

ERT has merged with Bioclinica to create a global leader in clinical trial endpoint technology, combining Bioclinica's imaging and eClinical capabilities with ERT's expertise in eCOA, cardiac safety, respiratory and wearables. The transaction was completed in 2021 with Cinven (Bioclinica's owner) becoming a significant minority shareholder in ERT alongside Nordic Capital, Astorg and Novo Holdings A/S.

SE2, a life and annuities insurance technology and services firm, has acquired Convergent Financial Technologies, the developer of UV Cloud, a unit value pricing and trading SaaS platform. The acquisition expands SE2's SaaS product offerings for insurance and retirement solutions and strengthens UV Cloud's capabilities in pricing, trading, reporting and data analytics for insurance carriers and asset managers.

Partners Group, a global private markets investment manager, has acquired a majority stake in Wedgewood Pharmacy from New Harbor Capital. Wedgewood is a leading U.S. compounding pharmacy for animal health that employs over 700 people across multiple states and serves tens of thousands of veterinarians and hundreds of thousands of pet owners; the deal closed April 1, 2021.

Trinity Life Sciences acquired New Jersey-based BluePrint Research Group to strengthen its commercial strategy, insights and analytics capabilities for the life sciences industry and expand its international footprint, including a London office. The deal integrates BluePrint's team into Trinity's global platform and adds resources across India and the U.S. coasts.

U.S. LUMBER GROUP LLC, a wholly owned subsidiary of Specialty Building Products, LLC, has acquired Mid-State Lumber Corp., a regional wholesaler of building materials. The deal preserves Mid-State's brand and leadership and expands U.S. LUMBER/Specialty Building Products' product offering and geographic footprint across the Mid-Atlantic and New England.

New Charter Technologies, a platform backed by Oval Partners, has acquired Olmec Systems, Inc., a 34-year managed service provider that services more than 5,000 endpoints across the NJ/NYC and metro Atlanta markets. The transaction is an add-on to New Charter's roll-up of North American MSPs, allowing Olmec's owners to monetize and optionally reinvest alongside Oval Partners while remaining part of New Charter's leadership.

Knox Lane, a San Francisco-based middle-market investment firm, has made a strategic growth investment in Fingerpaint, a full-service health and wellness marketing agency. Financial terms were not disclosed; Fingerpaint founder Ed Mitzen and the existing management team remain significant investors and will continue to lead the company as it pursues growth and capability expansion across its healthcare-focused marketing, analytics and market-access services.

CBIZ, Inc. acquired substantially all the assets of BeyondPay, Inc., a Clinton, New Jersey-based full-service human capital management and payroll provider, effective December 1, 2020. The acquisition adds ~40 employees and ~$4.6 million in annual revenue to CBIZ's HR and payroll capabilities to accelerate growth in its Centrally HR practice.

PG Dental Holdings, backed by TriSpan, has completed a merger with Allied Dental Holdings to create the largest dental service organization (DSO) footprint in New Jersey and expand presence in Pennsylvania and Maryland. Pro forma the transaction, the combined organization will manage 79 multi-specialty practices employing over 200 dentists and more than 130 corporate staff.

Zimmer Biomet completed the acquisition of A&E Medical Corporation from private equity owner Vance Street Capital for $250 million. A&E Medical, headquartered in Farmingdale, New Jersey, is a designer and manufacturer of sternal closure systems, cardiac pacing wires and related disposable surgical products; the deal expands Zimmer Biomet's capabilities and product portfolio in cardiovascular and cardiothoracic surgical devices.

Church & Dwight Co., Inc. acquired Matrixx Initiatives, the maker of the Zicam over-the-counter cold remedy brand, from Gryphon Investors. The transaction, completed in December 2020, expands Church & Dwight’s consumer health portfolio and brings the Zicam brand and related product lines into its CPG portfolio (deal value reported at $530 million).

GenNx360 Capital Partners’ portfolio company Miller Environmental Group (MEG) has acquired Monarch Environmental Services, Inc., a New Jersey-based waste and disposal services provider with two TSDF facilities. The deal expands MEG’s footprint by three locations (including TSDFs in Woodstown, NJ and Tampa, FL), increasing the combined company’s presence across the Northeast, Mid‑Atlantic and Southeast as part of MEG’s rollup strategy since GenNx360’s 2019 investment.

Unified Door and Hardware Group, a portfolio company of Dunes Point Capital, has acquired Joffe Lumber & Supply Co., a Vineland, New Jersey–based distributor of doors, frames and hardware. The deal is an add-on acquisition that expands Unified's distributor footprint and product capabilities in the building products market.

McKean Defense Group agreed to acquire Mikros Systems Corporation for approximately $4.6 million in cash, purchasing all outstanding common stock in a merger. The acquisition strengthens McKean's U.S. Navy portfolio by adding Mikros' electronic systems, combat-systems monitoring and diagnostic analytics capabilities to support Littoral Combat Ship programs and other naval sustainment work.

Los Angeles-based private equity firm Vance Street Capital acquired Wytech Industries, a Rahway, New Jersey manufacturer of specialty core wires and precision tube-based components for interventional medical devices. The Casalino family (founders) retain an ownership stake alongside Vance Street; terms were not disclosed. The deal represents Vance Street's first platform investment from Fund III and a strategic entry into a medical-device component manufacturing platform.

LTC Global, Inc. (headquartered in Fort Myers, Florida) has acquired Hazlet, New Jersey-based NJ LTC and DI Brokers Corporation (NJLTC), a specialist in long-term care and disability income insurance. The deal brings nationally recognized disability income expertise and distribution relationships to LTC Global; Dennis O'Connor III will continue to manage the business.

SugarCRM Inc. has acquired W-Systems, a New Jersey-based CRM and marketing automation solutions and services provider (a division of Gannett's UpCurve, Inc.). The acquisition brings W-Systems' implementation, customer success and development teams and high-demand add-ons into Sugar's North American operations to expand implementation capacity and accelerate delivery of sales and marketing automation services to mid-market customers.

World Insurance Associates LLC (WIA), a nationally ranked insurance brokerage based in Tinton Falls, NJ, acquired Fairways Insurance Services, Inc. of Cinnaminson, NJ (effective November 1, 2020). The acquisition expands WIA's presence in the Mid-Atlantic and gives Fairways access to WIA's broader product offerings and service capabilities; terms were not disclosed.

Stonepeak Infrastructure Partners agreed to acquire Astound Broadband (RCN, Grande, Wave, enTouch) from TPG Capital and Patriot Media Management for $8.1 billion. Stonepeak will partner with the Astound management team (Patriot Media) to invest in network expansion and technology upgrades; the deal was expected to close in Q2 2021 subject to customary approvals.

World Insurance Associates LLC (WIA), a nationally ranked full‑service insurance brokerage headquartered in Tinton Falls, New Jersey, acquired Brian S. O'Neill & Associates, Inc. (d/b/a Collier O'Neill & Associates) of Trenton, New Jersey on November 1, 2020. The acquisition expands WIA's client base and service capabilities in the New Jersey region; terms were not disclosed.

Eureka Equity Partners has acquired Perfect Creation, Inc., d/b/a iPEC Coaching, a provider of coach training and certification solutions headquartered in Shrewsbury, New Jersey. The transaction, Eureka's second platform investment from its Eureka IV fund, will partner with iPEC's senior management to support growth and expansion into complementary service lines.

Chicago-based private equity firm CORE Industrial Partners has acquired J&K Ingredients Corp., a Paterson, New Jersey manufacturer of natural, organic and clean-label bakery ingredients. CORE said it will support J&K's organic growth and pursue strategic add-on acquisitions to expand the company's product offering, customer base and end-market reach.

Affiliates of CriticalPoint Capital have closed the acquisition of AECOM's Power Construction division and launched the business as an independent company, United E&C, Inc. CriticalPoint said it will partner with United's management to build a stand-alone infrastructure engineering and construction platform serving power generation, transmission & distribution, and renewable markets.

Lee Equity Partners has agreed to become the majority owner of Simplicity Group Holdings, a Summit, New Jersey-based financial products distribution business. The transaction transfers majority ownership from Aquiline Capital Partners to Lee Equity and is expected to close by the end of 2020 subject to regulatory approvals; financial terms were not disclosed.

Arcadia Consumer Healthcare, a portfolio company of Avista Capital Partners, has acquired NATURELO, a premium vitamins, minerals and supplements (VMS) brand. The add-on expands Arcadia's product portfolio and online presence in the growing self-directed wellness market; financial terms were not disclosed.

Medical Knowledge Group (MKG), a portfolio company of Court Square Capital Management, has acquired Magnolia Innovation, a boutique market research and strategy consulting firm serving the biopharmaceutical industry. The acquisition expands MKG's research and commercialization capabilities by combining Magnolia's life-sciences market-insight expertise with MKG's analytics-driven solutions; Hyde Park Capital served as exclusive advisor to Magnolia.

Consolidated Machine & Tool Holdings (CMTH), a platform company backed by White Wolf Capital, acquired Delva Tool & Machine Corporation (DTM), a precision machining and contract manufacturing business based in Cinnaminson, New Jersey. The add-on expands CMTH's capacity and capabilities—adding advanced robotics and defense/aerospace customers—and provides DTM access to capital to support future growth; financial terms were not disclosed.

Integrity Growth Partners led a significant equity investment in mortgage technology provider MBS Highway, with participation from Cohesive Capital Partners and other investors. The minority growth investment will fund product innovation, team expansion, and accelerate MBS Highway's market growth.

Worldwide Facilities, a national wholesale insurance broker and program underwriter, has acquired Hunt Jorgensen, LLC, a Maywood, New Jersey-based managing general underwriter specializing in professional liability insurance programs (CPAGold™, LawGold™, AdvisersGold™, Firemark™). The acquisition expands Worldwide Facilities' professional liability product offering and brings Hunt Jorgensen's programs, clients and team into Worldwide Facilities' platform; Marsh, Berry & Company served as financial advisor to Worldwide Facilities.

BioLife Solutions, Inc. (NASDAQ: BLFS) has entered into a definitive agreement to acquire SciSafe, a privately held multi-facility biostorage provider serving the cell and gene therapy and pharmaceutical industries. BioLife will pay $15 million cash and $15 million in newly issued BioLife common shares for 100% of SciSafe, with up to 626,000 additional shares earnable based on revenue milestones; the deal is expected to close on September 30.

GI Partners, a San Francisco-based private investment firm, has agreed to acquire Sectigo, a digital identity and web security provider, from Francisco Partners. The deal will support Sectigo's global expansion and product innovation as GI Partners plans to accelerate growth through organic initiatives and M&A.

Gilead Sciences agreed to acquire Immunomedics for $88.00 per share in an all-cash transaction valuing Immunomedics at approximately $21 billion. The acquisition gives Gilead global rights (outside certain Asian territories) to Trodelvy, an FDA‑approved antibody‑drug conjugate for metastatic triple‑negative breast cancer, and accelerates Gilead’s expansion into oncology.

OneBeacon Insurance Group, the U.S. specialty insurance brand of Intact Financial Corporation, has acquired International Bond & Marine Brokerage, Ltd. (IB&M), a privately held brokerage specializing in customs bonds, marine cargo and transportation-related insurance. The acquisition expands OneBeacon’s owned-brokerage capabilities and enhances its customs bonds and international trade risk-management offerings.

Kistler Tiffany Benefits, a OneDigital company and leading employee benefits general agency in the Pennsylvania/Delaware/New Jersey region, acquired Advanced Benefits Concepts (ABC) of Cherry Hill, New Jersey. The acquisition brings ABC's ancillary benefits expertise and staff into Kistler Tiffany to expand ancillary capabilities, scale resources, and deliver more compliance and technology support to broker partners.

Futuris Company signed definitive agreements to acquire majority ownership in two Cherry Hill, New Jersey-based staffing firms, Fourth Technologies, Inc. (Fortek) and Soft2001, Inc. The two companies together generate roughly $7.25 million in annual revenue and the deals are intended to expand Futuris's HCM/staffing platform in the Northeast U.S.; both transactions were expected to close in September 2020.

Omni Ophthalmic Management Consultants, a portfolio company of NMS Capital, announced a strategic partnership/affiliation with Eye Care Northwest, P.A., a medical-surgical eye care provider headquartered in Sparta, New Jersey. The transaction expands Omni's footprint in Northwest New Jersey and strengthens its network of ophthalmology services; terms were not disclosed.

Quest Software acquired Binary Tree to combine two market leaders in Microsoft migrations, expanding Quest’s Microsoft Platform Management capabilities across on-premises, hybrid and cloud migrations. The acquisition brings Binary Tree’s tenant-to-tenant and Notes/Domino migration expertise and SaaS migration tools into Quest’s broader portfolio for management, security and modernization of Microsoft environments.

World Insurance Associates LLC (WIA), a nationally ranked insurance brokerage based in Tinton Falls, New Jersey, acquired Gateway Agency National of Highlands, New Jersey on September 1, 2020. The acquisition expands WIA's presence in the New Jersey market and will give Gateway access to WIA's broader resources and capabilities; terms were not disclosed.

CityMD acquired three Urgent Care Now locations (Toms River, Manahawkin and Lanoka Harbor), marking its entry into Ocean County, New Jersey and expanding its state footprint to 19 sites. Approximately 28 healthcare providers from Urgent Care Now will join CityMD, and founder Dr. John Kulin will transition his role into CityMD's clinical leadership following the deal.