Acquisitions in North Carolina in 2017

Arsenal Capital Partners has acquired Carolina Color Corporation and Breen Color Concentrates, combining the two specialty color- and additive-concentrate suppliers to form a leading platform in the plastics colorant market. The combined business operates five U.S. manufacturing facilities and will leverage complementary technologies (including Carolina Color's G2/G3 products and Breen's PVC-focused formulations) to expand product offerings and pursue further growth and acquisitions.

Hub International Limited (HUB) has acquired the assets of North Carolina-based Banyan Consulting Group, Inc., a specialist in employee benefits with offices in Greensboro, Raleigh and Charlotte. Banyan's CEO Alan Overbey will join HUB Carolinas as the transaction expands HUB Carolinas' benefits operations and regional footprint across North and South Carolina. Terms were not disclosed.

ERMCO, a Dyersburg, Tennessee-based manufacturer of distribution transformers, has acquired GridBridge Corporation, a Raleigh, North Carolina power-delivery systems company and developer of the Grid Energy Router. GridBridge will operate as a wholly owned subsidiary of ERMCO to scale its energy-router product line and support utility and commercial customers in grid modernization; financial terms were not disclosed.