Acquisitions in North Carolina in 2016

Argand Partners, a New York-based private equity firm, has acquired Sigma Electric Manufacturing, a Garner, North Carolina-headquartered maker of precision die-cast and sand-cast metal components with multiple manufacturing plants in India. Terms were not disclosed; the transaction is supported by a loan facility from Brightwood Capital Advisors and Argand intends to work with Sigma's management to expand the company’s market presence and geographic footprint.

Partners Group has agreed to acquire Systems Maintenance Services (SMS), a Charlotte-based global provider of IT hardware support and data center lifecycle services, from funds affiliated with Thomas H. Lee Partners and Summit Partners. SMS, which reported roughly $245 million in 2015 revenue and employs over 900 engineers across 100+ service centers, will work with Partners Group to expand its global footprint and service portfolio both organically and through add-on acquisitions.

RPM International Inc. acquired Applied Polymerics, Inc. & Marketing Associates, Inc. (API/MAI) and will fold the business into its Universal Sealants (U.K.) Limited (USL) unit within the RPM Performance Coatings Group. The Mount Airy, North Carolina company supplies and installs bridge expansion joints, concrete repair compounds, protective coatings and pavement-preservation products (about $14M in annual sales); existing management will remain in place.

Averna announced the acquisition of US-based Nexjen Systems, a Charlotte, North Carolina integrator of mechanical test systems, RF automated test equipment and industrial control/automation solutions. The deal (terms undisclosed) brings Nexjen's team into Averna to strengthen Averna's presence in the Eastern United States as part of its global growth strategy.

Arthur J. Gallagher & Co. (AJG) acquired McNeary, Inc., a Charlotte-based retail insurance broker specializing in commercial property/casualty, risk management and employee benefits, effective May 2016. The acquisition expands Gallagher's southeastern U.S. presence and strengthens its property/casualty and employee benefits capabilities; terms were not disclosed.

Cott Corporation acquired Concord, North Carolina-based S&D Coffee, Inc., with the deal closing on August 11, 2016. S&D will operate as a subsidiary under the S&D Coffee & Tea name with Ron Hinson remaining as President and CEO; the acquisition provides Cott expanded beverage manufacturing, supply chain and distribution capabilities in the foodservice channel.

An affiliate of Lone Star Funds has acquired A Wireless (formerly Z Wireless), a Greenville, North Carolina–based wireless retailer with more than 600 stores across 31 states, from Atlantic Street Capital. Atlantic Street Capital said the sale represented a successful exit for its investment; William Blair served as exclusive financial advisor and Morrison Cohen served as legal advisor to A Wireless.

Hub International Limited acquired the assets of Raleigh-based RPG Solutions, Inc., a provider of employee benefits, HR services and training. RPG's founder Phil Gruber will join Hub Southeast and RPG's president Stacey Mangum will continue to report to him; terms were not disclosed.

ADVA Optical Networking SE acquired Morrisville, North Carolina-based Overture Networks for an initial $35 million (with up to $5 million in conditional earn-out) to strengthen its NFV and Ethernet access capabilities. The deal combines ADVA's optical and access hardware with Overture's Ensemble NFV software and orchestration tools, expands ADVA's footprint in North America and adds roughly 178 employees.