Acquisitions in New York in 2020

Chicago-based private equity firm Benford Capital Partners completed a recapitalization of Brothers International Food Corporation, partnering with founder and CEO Travis Betters who will remain in place. The capital will be used to invest in sales, marketing, R&D and new product development across Brothers' ingredients and Brothers All-Natural divisions, and to pursue add-on acquisitions in the healthy snacks and food ingredients space.

iNRCORE, an affiliate of The Jordan Company’s Resolute Fund IV, has acquired Gowanda Components Group from Addison Capital Partners. The deal combines iNRCORE and Gowanda to create a global magnetics platform, expanding product capabilities across communications, aerospace & defense, medical devices and other high-reliability end markets.

Remsen Technologies LLC announced a definitive agreement to acquire Maid Sailors and its affiliates for $10,000,000, with the transaction expected to close in Q1 2021. Maid Sailors, headquartered in New York City, is a professional home and office cleaning service operating in New York, New Jersey, Massachusetts, Illinois and Florida; Remsen said it will leverage its ownership, technology and resources to scale and enhance Maid Sailors' service delivery.

Pentair plc has completed the acquisition of Be the Change Labs, Inc., d/b/a Rocean, a maker of smart countertop water-filtration devices. The deal expands Pentair's residential and commercial water-treatment product portfolio and strengthens its sustainability-focused offerings.

Ambac Financial Group agreed to acquire 80% of the membership interests in Xchange Benefits, LLC and Xchange Affinity Underwriting Agency, LLC, with Xchange management principals retaining the remaining 20%. The acquisition is part of Ambac's strategy to diversify into specialty program insurance and expand its MGA/MGU capabilities to generate recurring fee-based income and accelerate Xchange's geographic and product growth plans.

BlueCrest, a Danbury, Connecticut-based provider of enterprise print, mail and customer communications technology, has acquired BCC Software, a long-standing North American leader in postal and presort software. The acquisition brings BCC's address quality, mail preparation and tracking solutions into BlueCrest's portfolio to deliver end-to-end postal optimization and mail workflow capabilities.

Delta Faucet Company, a division of Masco Corporation, has signed a definitive agreement for Masco to acquire the assets of Kraus, an online plumbing-fixture company. Kraus, headquartered in Port Washington, New York and employing about 100 people, will operate as an affiliate of Delta Faucet Company following a closing expected by Q1 2021.

The Hilb Group, LLC (THG) acquired New York-based Hiram Cohen & Son, Inc. (HCS) effective December 1, 2020. HCS, a fourth-generation property & casualty insurance agency founded in 1919 and based in Williston Park, New York, will continue operating under its existing leadership as part of THG's Tri-State operations; THG is a Carlyle-backed insurance brokerage pursuing growth through strategic add-on acquisitions.

Unified Door and Hardware Group, a portfolio company of Dunes Point Capital, has merged with LIF Industries. The transaction combines Unified's 16-location, value-add distribution platform with LIF's Port Washington-based manufacturing and distribution capabilities (approximately 400 employees) to expand product and geographic reach in doors, frames and hardware.

Aceto U.S., LLC has acquired IsleChem, a Grand Island, New York-based chemical manufacturer and contract R&D provider. The acquisition adds U.S. manufacturing, analytical and R&D capabilities to Aceto’s global specialty-chemicals sourcing and distribution platform and supports expansion of IsleChem’s facility and workforce.

Thoma Bravo has made a strategic growth investment in Zipari, valuing the company at more than $500 million, and Zipari is combining with Healthx to create an end-to-end consumer experience (CX) platform for health insurance payers and TPAs. Zipari will remain led by Founder & CEO Mark Nathan and headquartered in Brooklyn, New York; the combined business will expand product capabilities and the customer base across payer and TPA markets.

RedTeam, an Orlando-based construction management software provider, acquired the Fieldlens mobile field management plan-markup technology to integrate its plan-markup and field-collaboration capabilities into the RedTeam platform. Fieldlens' mobile-first tool will be integrated into RedTeam and offered as a standalone product to expand RedTeam's capabilities for general contractors and subcontractors.

Bain & Company has acquired Sutton Place Strategies (SPS), a deal origination tool and transaction database used by private equity firms, corporate M&A teams, and deal advisors. The acquisition adds SPS's proprietary transaction data and analytics to Bain's suite of data offerings to enhance deal sourcing, pipeline analytics, and M&A advisory capabilities.

Digital media company Blexr has acquired HomeGrounds.co, a content site and online community for home baristas. FE International served as sell-side advisor and the site's founder Alex Azoury (Tailend Media) sold the asset; Blexr said the purchase supports its expansion into the coffee vertical and broader content product verticals.

TriSpan’s Rising Stars platform made a strategic growth investment in Maman, a French‑themed café and bakery founded in 2014 with multi‑unit locations in New York and Toronto. The capital is intended to accelerate Maman’s expansion plans and scale the brand nationally and beyond; financial terms were not disclosed.

ATSG, a PE‑backed tech‑enabled managed services and solutions company, has acquired MTM Technologies, Inc., an IT managed services provider with deep Cisco and Citrix partnerships. The acquisition expands ATSG’s national footprint and technical capabilities across datacenter, endpoint, network, and cybersecurity infrastructure, and bolsters its rediManage/rediTech/rediCloud/rediSecure offerings.

Numerator has acquired Information Machine LLC to expand its consumer-sourced purchase and media data capabilities by integrating Information Machine's APIs into Numerator's Receipt Hog mobile app. The acquisition will incorporate high-volume loyalty card, mobile app purchase and media viewing data into Numerator's consumer panel and will continue to operate Information Machine's SaaS platform under the name Numerator Link.

WRAP Technologies, Inc. (Nasdaq: WRAP) completed an asset purchase of NSENA Inc., a developer of immersive virtual reality training for law enforcement, and will rebrand the business as WRAP Reality. The acquisition is intended to expand WRAP’s training capabilities by integrating NSENA’s VR scenarios and content with WRAP’s BolaWrap training and academy offerings to target public-safety agencies and improve de‑escalation and use‑of‑force training.

Cimbria Capital has acquired Madeira Global, an ESG advisory, analytics and reporting firm. The deal brings Madeira's ESG expertise and founder Christina Alfonso into Cimbria to strengthen the firm's ESG integration across investment diligence and portfolio management.

Eli Lilly agreed to acquire Prevail Therapeutics for $22.50 per share in cash (approximately $880 million) plus a non-tradable contingent value right (CVR) worth up to $4.00 per share (up to ~$160 million), for total consideration of up to ~$1.04 billion. The deal establishes a gene therapy program at Lilly anchored by Prevail’s AAV9-based neuroscience pipeline; the transaction was structured as a tender offer with expected close in Q1 2021 subject to customary conditions.

Excel Sports Management received a strategic minority growth investment from Shamrock Capital to support the agency’s expansion in sports, media and brand marketing. Terms were not disclosed; Excel’s leadership (Jeff Schwartz, Casey Close and Mark Steinberg) will continue to run the agency and enlisted LionTree Advisors (financial) and Katten Muchin Rosenman (legal) on the transaction.

Odyssey Investment Partners has entered into a definitive agreement to acquire Protective Industrial Products, Inc. (PIP), a global supplier of personal protective equipment, from Audax Private Equity. PIP’s management, including CEO Joe Milot, will remain in place and the Milot and Tao families will retain a significant ownership stake as Odyssey pursues organic growth and strategic add-on opportunities for the business.

J.D. Power has acquired Inventory Command Center (ICC), a SaaS-based automotive inventory management and VIN-level data syndication platform, and will integrate the business into its Autodata Solutions division. The acquisition expands J.D. Power's vehicle inventory merchandising and VIN data capabilities to better serve dealerships, manufacturers and third-party car-shopping sites as electric vehicles and new automation technologies increase VIN-specific data needs.

Pritchard Industries, a portfolio company of A&M Capital Partners II, has acquired a majority interest in Global Industrial Services, Inc., a regional provider of janitorial, snow removal and landscaping services headquartered in Syosset, New York. The transaction broadens Pritchard’s exterior services capability and expands its geographic footprint (including entry into Pennsylvania), strengthening the platform’s presence in the Northeast, Midwest and Mid-Atlantic.

iCIMS acquired mobile video platform Altru Labs to add employee-generated video storytelling capabilities to its Talent Cloud, enabling customers to capture, edit, brand, approve and distribute authentic employee videos across career sites and social channels. The acquisition integrates Altru's mobile-first platform with iCIMS' talent acquisition suite to improve candidate engagement and recruitment marketing for enterprise customers.

Risk Strategies, a national insurance brokerage, has acquired FBA National, a Garden City, New York–based specialist in employee benefits and fringe benefit programs. The deal expands Risk Strategies' capabilities in tailored benefits, compliance with wage-parity and prevailing wage regulations, and strengthens its offerings for home health care and other clients in the New York region; terms were not disclosed.

GrubMarket has acquired Leo's Apples Inc, a New York City-based fresh fruit provider, to accelerate its national expansion and strengthen its presence in the Northeast. Leo's Apples will remain based in New York and under its current management while gaining access to GrubMarket's WholesaleWare SaaS platform and broader supplier/customer network.

Funds advised by growth equity firm PSG made a significant, undisclosed investment in NoFraud, marking the fraud-prevention software company's first outside investment. PSG partners Adam Marcus and Govind Anand joined NoFraud's board as the investment will support product expansion and client acquisition.

Sovos, a Boston-based global tax software provider, has acquired LTtax, a New York–based payroll withholding and unemployment tax software provider that serves large retailers, financial institutions and insurers. The deal brings LTtax's automated wage withholding capabilities into Sovos' tax information reporting suite, enabling Sovos to support payroll wage withholding (941 series) while strengthening non-wage withholding automation for 945 and 1042 reporting; terms were not disclosed.

VMG Health, a Dallas-based healthcare valuation and transaction advisory firm and portfolio company of Northlane Capital Partners, has acquired RR Health Strategies, LLC, a Hauppauge, New York-based medical coding, compliance, and operational excellence consulting firm. The RRHS team, led by President Pam D'Apuzzo, will lead VMG Health's new Coding, Compliance, and Operational Excellence service line to expand the firm's compliance-driven offerings and support clients across health systems, law firms, CPAs, billing vendors, PE firms, and healthcare practices.

Arthur J. Gallagher & Co. acquired Queensbury, New York–based Cool Insuring Agency, Inc., a regional insurance agency with offices in Queensbury and Latham. The acquisition expands Gallagher's Northeast retail property/casualty and employee benefit capabilities, adding expertise in construction, healthcare, senior living and public entity clients. Terms were not disclosed.

Insight Partners made a strategic growth investment in CommerceHub to accelerate the company’s platform innovation and expand its digital supply chain solutions. CommerceHub — an e-commerce enablement SaaS provider serving thousands of retailers, brands and distributors — will continue to be supported by existing investors GTCR and Sycamore Partners.

New Mountain Capital has made an investment in Tinuiti, the largest independent performance marketing firm, with current owner Mountaingate Capital exiting the business. The partnership will fund talent, product and capability investments and support international expansion while Tinuiti's management team (including CEO Zach Morrison and CSO Nii Ahene) remains in place; financial terms were not disclosed.

Red Ventures has acquired Lonely Planet from NC2 Media for an undisclosed amount. The deal brings the iconic travel guidebook and digital travel media brand into Red Ventures' travel portfolio to accelerate Lonely Planet's digital transformation and create end-to-end consumer travel experiences.

The Hilb Group, LLC has acquired New York-based Rampart Brokerage Corporation & Affiliates, marking THG's 100th and largest acquisition to date. Rampart — headquartered in Lake Success, New York with nearly 200 employees — will join THG's Tri-State operations and continue to operate from its existing New York, New Jersey and Pennsylvania locations.

EveryAction, a provider of CRM and fundraising technology for nonprofits, acquired Mobilize, an events management and volunteer recruitment platform. The deal brings Mobilize’s supporter engagement network and event tools into EveryAction’s nonprofit-focused CRM to provide integrated online/offline organizing, event management, and improved supporter conversion for nonprofit and advocacy clients.

Chemtron Corporation, a Kinderhook Industries portfolio company, acquired the assets of Tonawanda Environmental Corporation (TEC), a Buffalo-based hazardous and non-hazardous waste management provider. The add-on expands Chemtron's regional footprint into Western New York and brings TEC employees and waste-brokering capabilities into Chemtron's suite of services; financial terms were not disclosed.

U.S. Urology Partners, a portfolio company of NMS Capital, announced a strategic partnership to bring Associated Medical Professionals of New York (AMP) into its platform. The deal (terms undisclosed) adds AMP’s nine locations and 30+ providers in the Syracuse area to U.S. Urology Partners’ national urology platform, supporting regional expansion and platform growth through additional clinical capabilities and ambulatory services.

Centre Partners Management LLC has made a growth investment in Disruptive Products, Inc., the parent of Tastemakers, LLC and creator of the Arcade1UP line of retro at‑home arcade machines. The capital is intended to support Disruptive Products’ continued product innovation, retail and online distribution expansion, and overall growth initiatives.

Providence Service Corporation (through its subsidiary Logisticare) has agreed to acquire Simplura Health Group from One Equity Partners. Simplura, a Valley Stream, New York–headquartered provider of non-medical home care services with more than 15,000 employees and 57 locations across seven states, was grown by OEP via eight add-on acquisitions and is expected to close in Q4 2020 pending approvals.

RollKall, an Irving, Texas–based off-duty law enforcement staffing platform, has acquired Cover Your Assets (CYA), a provider of off-duty management SaaS. The deal combines two off-duty management platforms to create the largest national provider in the off-duty/extra-duty law enforcement staffing market and accelerates RollKall's market consolidation and capability expansion.

Mars, Incorporated announced the acquisition of KIND North America, bringing the business into the Mars Family of Companies and combining it with KIND International. Founder Daniel Lubetzky will retain an ongoing financial stake and the deal is intended to accelerate KIND's expansion across geographies and product categories as part of Mars' healthy snacking platform.

A.P. Keaton, a New York–based full-service marketing agency, has acquired PASK Productions, an experiential design and brand engagement agency. PASK will operate under the A.P. Keaton name and its former president, Alyse Pask, will join A.P. Keaton as vice president of brand and strategy to integrate PASK's experiential capabilities into A.P. Keaton's service offering.

Versare Solutions, a Minneapolis-based portfolio company of WILsquare Capital, has acquired substantially all assets of EverBlock Systems, a New York-based maker of modular room partitions, building blocks and interlocking flooring. The deal combines EverBlock's patented modular products with Versare's manufacturing, eCommerce and digital marketing capabilities to expand product offerings and distribution; terms were not disclosed.

Epiq has acquired Hyperion Global Partners, a business and technology advisory practice focused on legal operations and transformation, including its analyst unit Hyperion Research. The deal expands Epiq's legal transformation services and brings Hyperion's founder and CEO, Eyal Iffergan, into Epiq as Managing Director of its new legal operations advisory business.

Cornell Capital LLC and Hudson Structured Capital Management Ltd. (HSCM) agreed to acquire a majority stake in Vault Holdings, LLC, a provider of high-net-worth personal insurance, to accelerate Vault's growth in the U.S. affluent insurance market. Allied World will retain an indirect minority interest, provide reinsurance and transitional administrative services, and the transaction is expected to close in Q1 2021 subject to regulatory approvals.

The Carlyle Group made a strategic growth investment of more than $250 million in Pharmapacks, an ecommerce marketplace enablement platform and large marketplace seller, valuing the company at approximately $1.1 billion. The capital is intended to accelerate Pharmapacks' growth by expanding fulfillment capacity, building out its data and analytics platform, and increasing the number of brand partners; J.P. Morgan served as lender and advisor on the transaction.

Pipedrive, a sales CRM platform, announced a majority investment from Vista Equity Partners. Existing investors including Bessemer Venture Partners, Insight Partners, Atomico, DTCP and Rembrandt Venture Partners will remain as minority holders while Vista will support Pipedrive's product development and international growth.

CI Financial Corp. agreed to acquire 100% of The Roosevelt Investment Group, a New York–based registered investment advisor with approximately US$2.7 billion in assets under management. The acquisition expands CI's U.S. wealth management platform and establishes a presence in the New York market, bringing CI's projected U.S. wealth assets to roughly US$16.5 billion.

AHT Insurance completed the acquisition of Kaplow Insurance, a specialist equine and farm insurance agency. Kaplow Insurance owner Evan Kaplow and his team joined AHT to expand the firm's equine, farm property and liability, and equestrian disability capabilities and geographic footprint.