Acquisitions in North Carolina in 2019

424 Capital, together with Eagle Private Capital and Plexus Capital, purchased a majority share in Practis from founder Elizabeth Pettrone and CEO John Pettrone Jr., who will remain investors and active managers. Practis is a digital marketing and SaaS provider serving independent healthcare providers (over 700 customers); the investors plan to accelerate growth, expand services, and enter new markets.

Maysteel Industries, a Littlejohn Capital portfolio company, and Porter's Group, a Resilience Capital Partners portfolio company, have merged and will operate under the Maysteel brand. The combined custom sheet metal fabricator will have six manufacturing locations across the U.S. and Mexico and employ more than 1,000 people; both Littlejohn Capital and Resilience Capital Partners remain equity owners.

3 Rivers Capital, a lower middle-market private equity firm, has acquired Aptus Group USA, a Charlotte-based provider of bridge-attached utility repair and maintenance services. The founder, Scott T. Dill, remains CEO as 3RC partners with Aptus to expand its geographic footprint beyond the eastern U.S. and accelerate strategic growth.

RE/MAX Holdings, Inc. acquired First, a Durham, North Carolina-based data science and machine-learning startup that provides an intelligent coaching and CRM-style app for real estate agents. The acquisition brings First's platform and team into RE/MAX's technology stack to give RE/MAX agents discounted exclusive access and to accelerate the brand's broader technology roadmap.

FDH, a portfolio company of Audax Private Equity, has acquired BTC Electronic Components, a Wake Forest, North Carolina-based specialty distributor of high-performance connectors serving aerospace, military and industrial end markets. The acquisition is an add-on to FDH that expands its product offering into electronic connectors and strengthens its OEM and MRO capabilities.

Main Street Capital Holdings, LLC created a new precision metal manufacturing platform, Compass Precision, LLC, by acquiring Quality Products & Machine, LLC, Advanced Machining & Tooling, LLC, and Tri-Tec Industries Inc. All three acquired companies are based in the Charlotte, North Carolina area; Compass Precision will consolidate capabilities (machining, EDM, fabrication, assembly and test) to serve aerospace & defense, medical and industrial customers and pursue further add-on acquisitions.

Novo Holdings A/S made a multimillion-dollar, double-digit equity investment in US-based bioMASON to help commercialize its bacteria-grown biocement masonry products. As part of the deal Anders Spohr of Novo Holdings will join bioMASON's board as the company scales its sustainable concrete alternative for construction and infrastructure markets.

H.I.G. Growth Partners has invested in Passport Labs as part of the company's $65 million Series D growth financing to support expansion of its mobility management platform. The capital will be used to grow Passport's software and ecosystem—enabling broader digital parking payments and new partnerships—across cities, universities and transit agencies.

Bland Landscaping Company, a North Carolina full‑service commercial landscaping provider based in Apex, has acquired Landmark Landscape Services of Huntersville, North Carolina. The deal adds a key branch location north of Charlotte and expands Bland's maintenance and irrigation capabilities and regional footprint.

Marmic Fire & Safety Co., a portfolio company of Thompson Street Capital Partners, has acquired Fire Control Systems of Charlotte, a provider of commercial fire protection services based in Charlotte, North Carolina. The add-on deal—Marmic's fifth since partnering with TSCP—expands Marmic's geographic footprint across the eastern United States and strengthens its inspection, testing, and service capabilities for fire extinguishers, alarm and suppression systems, and emergency lighting.

US Foot & Ankle Specialists (a portfolio company of NMS Capital) has partnered with and acquired Gaston Foot and Ankle Associates in Gastonia, North Carolina. The practice will continue operating in-place and will gain access to USFAS's administrative and clinical support services as part of the integration.

An investor group led by Leonard Green & Partners, in partnership with Arsenal Capital Partners and Novo Holdings A/S, has agreed to recapitalize WCG to provide resources to accelerate growth and expand capabilities in clinical trial optimization. Financial terms were not disclosed; the transaction was announced in November 2019 and expected to close in the first quarter of 2020.

Highline Aftermarket, a portfolio company of The Sterling Group, has acquired Camco Manufacturing’s Liquids division, adding manufacturing plants in Leominster, MA; Reidsville, NC; Elkhart, IN; and Albany, OR. The acquisition expands Highline’s blending and filling capacity and strengthens its position as a nationwide producer and distributor of windshield wash, RV antifreeze and diesel exhaust fluid for the automotive, RV and marine aftermarket.

Q2 Holdings, Inc. (NYSE: QTWO) completed its acquisition of Lender Performance Group LLC ("PrecisionLender") in a cash transaction valued at approximately $510 million. The purchase brings PrecisionLender's enterprise SaaS loan-pricing and sales enablement capabilities into Q2 to expand its corporate banking and commercial lending product suite.

The Hilb Group, LLC (a portfolio company of Abry Partners) acquired Charlotte-based Employee Benefit Advisors of the Carolinas, LLC effective November 1, 2019. EBA will join THG’s Southeast benefits operations, with EBA Principal Suzy Johnson joining THG’s team to support regional growth in employee benefits for small- to mid-market clients.

East West Manufacturing, LLC has completed an add-on acquisition of SureTech Assembly, Inc., a Youngsville, North Carolina-based provider of wire and cable interconnects, harnesses, electromechanical assemblies and box builds. The deal expands East West's domestic electronics manufacturing and quick-turn capabilities and aligns with its strategy to grow U.S. manufacturing operations.

Mitsui & Co. (U.S.A.), Inc. acquired a minority, non-controlling interest in the management firm of Capitala Group in a strategic partnership announced October 28, 2019. Terms were not disclosed; Capitala's existing management team remains in place while Mitsui USA brings global reach and access to Asian markets to support Capitala's growth and capabilities.

New Capital Partners (NCP), a Birmingham-based private equity firm, has partnered with SMR Worldwide, an IT asset disposition (ITAD) and e-waste solutions provider headquartered in Charlotte, North Carolina. The investment will support SMR's (rebranded later as Sprout) expansion of facilities, rollout of new software-driven solutions, and capability growth to serve enterprise customers.

Alvarez & Marsal Capital (A&M Capital) has acquired ettain group from NMS Capital as part of a transaction that included ettain receiving a majority investment and pursuing immediate M&A. Concurrently, ettain group acquired Global Employment Solutions (GES) and Leidos Inc.'s commercial EHR consulting business (Leidos Health, LLC) to expand its Healthcare IT capabilities and broaden its IT staffing footprint across key U.S. markets.

Tecum Equity (Western Allegheny Capital, LLC) has acquired Pinnacle Cranes, a Link‑Belt and Manitex dealer operating in North Carolina and South Carolina. Pinnacle will continue operating from its service facilities in Charlotte and Raleigh while partners plan a leadership transition and search for a new headquarters to support future growth; the business was previously a division of Carolina Tractor and Equipment Company (CTE).

KIND Healthy Snacks acquired Creative Snacks Co., a family-owned better-for-you snack manufacturer based in North Carolina. The deal expands KIND’s product portfolio with Creative Snacks’ award-winning clusters, trail mixes, granolas and pretzels and gives KIND access to Creative Snacks’ manufacturing capabilities and retail distribution.

Ally Financial has completed the acquisition of Health Credit Services (HCS), a Charlotte-based, technology-driven patient financing company that partners with medical providers to offer point-of-sale financing for procedures not covered by insurance. HCS, an FTV Capital portfolio company with approximately 85 employees, will operate as an indirect subsidiary of Ally Bank with its existing management team remaining in place.

Light Wave Dental Management formed a long-term management arrangement with CarolinasDentist, a Fayetteville, North Carolina-based dental group with seven locations, marking Light Wave's entry into North Carolina. The affiliation is backed by private equity firm Alpine Investors, with financing support from Tree Line Capital Partners and Monroe Capital.

Anne Arundel Dermatology Management (ADM), a portfolio company of NMS Capital, announced affiliations with Southern Dermatology, Azalea Skin Treatment Center, Raleigh Dermatology Associates, Skin Solutions (Inc.), and Audrey F. Echt, M.D., P.A., to enter the Raleigh, North Carolina market. The additions (four locations and nearly 20 providers collectively) expand ADM's geographic footprint and provide the practices access to ADM's administrative and clinical support services.

The Hilb Group, LLC (a portfolio company of Abry Partners) acquired Josh Williams Enterprises, Inc. d/b/a WNC Health Insurance, effective September 1, 2019. WNC, an Asheville-based employee benefits and health insurance brokerage, will continue operating under Josh Williams from its existing Asheville location as part of THG's Carolinas expansion.

The Hershey Company completed its acquisition of ONE Brands, LLC, a maker of low-sugar, high-protein nutrition bars, for $397 million (approximately $325 million net of tax benefits). The purchase expands Hershey's better-for-you snacking portfolio and is expected to be accretive to earnings in the first full year post-close.

The Riverside Company has invested in Blue Moon Estate Sales, adding the leading estate sales franchisor to its Best Life Brands (BLB) senior services platform. Blue Moon, based in Raleigh, North Carolina, will complement BLB’s home care and assisted living placement services as Riverside looks to scale the franchise nationally.

VisionPoint Marketing, a Raleigh-based integrated marketing agency serving colleges and universities, completed a recapitalization with Capitala Group and Cascadily. The transaction provides liquidity and strategic capital to support the company's growth and operations; Berkery Noyes served as VisionPoint's exclusive financial advisor.

GlobalLogic Inc. has acquired Skookum, a Charlotte-based digital strategy, design and development firm. Skookum will continue to operate under its existing leadership as a wholly owned subsidiary, expanding GlobalLogic’s design and engineering capabilities and strengthening its presence in the eastern U.S.; terms were not disclosed.

Endurance International Group Holdings, Inc. entered into a definitive agreement to acquire substantially all assets of Ecomdash for approximately $9.6 million in cash. The acquisition will add Ecomdash’s inventory, multichannel listing and order management capabilities to Endurance’s cloud-based SMB web presence and marketing platform; the deal was expected to close by October 1, 2019.

Drew Technologies, part of the IVS division of Opus Group AB (publ), acquired the technology and operating assets of BlueLink Diagnostic Solutions under an asset purchase agreement on August 23, 2019 for approximately MSEK 2.8. The BlueLink technology and North Carolina call-center capabilities will be integrated into Opus IVS (including Drew Technologies and Autologic) to expand remote vehicle diagnostics and technical support offerings.

Rizing, LLC has acquired Transcend Spatial Solutions, a Charlotte-based GIS and LiDAR services firm, to integrate geospatial capabilities with Rizing's SAP enterprise asset management offerings. The acquisition, supported by Rizing's investment partner One Equity Partners, aims to expand geospatially-enabled EAM solutions across transportation, utilities and oil & gas customers.

Warren Equity Partners-backed Superior Industrial Maintenance Company (SIMCO) has acquired Carolina Coatings Solutions and Industrial Services, Inc., a Morrisville, North Carolina-based provider of corrosion protection and surface cleaning services. The deal expands SIMCO's service capabilities and geographic footprint in the Southeast; Carolina Coatings' founder Ken McCraw will remain with SIMCO post-close.

International private equity firm Cinven has acquired a controlling majority stake in JAGGAER, the global SaaS spend-management and Source-to-Pay provider. Accel-KKR, which took JAGGAER private in 2016 and drove significant growth and add-on acquisitions, retains a minority stake; Cinven said it will support further R&D investment and additional acquisitions to drive growth.

Genstar Capital has made a strategic growth investment in insightsoftware, the Raleigh-based provider of ERP and EPM reporting software, joining existing investor TA Associates. The capital will support insightsoftware’s product expansion and global growth into EMEA and APAC while the company continues to scale its cloud reporting and financial reporting solutions.

Longshore Capital Partners completed a strategic investment in Professional Recovery Consultants (PRC), a Durham, North Carolina-based revenue cycle management and collections services provider serving hospitals, physician groups, government agencies, utilities and financial services clients. Longshore said it will support PRC’s growth through investments in people and technology and pursue strategic add-on acquisitions to expand the business.

Nationwide Property & Appraisal Services, backed by Corridor Capital, has acquired Elliott & Company Appraisers, a Greensboro, North Carolina–based valuation and appraisal management firm. The deal expands Nationwide's valuation product set and Southeastern U.S. footprint while retaining Elliott's management team to support integration and product development.

New York-based private equity firm Blue Wolf Capital Partners has acquired RHA Health Services, a multi-state provider of community-based services for individuals with intellectual and developmental disabilities and behavioral health needs. The transaction involved a sale by prior investors Formation Capital and Safanad Limited and positions Blue Wolf to grow RHA's services across the Southeastern and Mid-Atlantic United States.

Airtech Group, a PE-backed manufacturer of specialty blowers, vacuums, pumps and valves, acquired Champion Valves Inc. and Valve & Pump Specialties, Inc. from founders Gary and Linda Spangler. The deal adds Champion's check and butterfly valve product line to Airtech's US Valve division, expanding its valve portfolio and end-market reach.

The Apax Digital Fund, advised by Apax Partners, has entered into a definitive agreement to acquire MetaMetrics, the developer of the Lexile and Quantile frameworks, from Pamlico Capital. Apax said it will support new product development and accelerate MetaMetrics' international expansion to extend the company's measurement and analytics capabilities for education; financial terms were not disclosed.

Ceva Santé Animale, a France-based animal health company, has acquired ThunderWorks (Thundershirt), a Durham, North Carolina maker of pet calming products, from private equity owner Encore Consumer Capital. Encore partnered with ThunderWorks for seven years to grow the brand and e‑commerce presence; Ceva said the brand is well positioned for continued growth as part of its companion‑animal portfolio.

Naylor Association Solutions, a portfolio company of RLJ Equity Partners, has acquired TechMedia, the producer of the Digital Summit conference series. Brookside Mezzanine Partners provided subordinated debt to support the transaction; TechMedia co-founders Eric Gregg and Scott Hedrick joined Naylor's management team following the acquisition.

Neptune Wellness Solutions Inc. completed the acquisition of substantially all assets of SugarLeaf Labs, LLC and Forest Remedies LLC, expanding Neptune's U.S. hemp extraction and finished-product manufacturing capacity. The initial consideration was US$18 million (US$12M cash and US$6M common shares) with potential earnouts up to US$132 million tied to performance; the deal adds a 24,000 sq. ft. North Carolina facility and expected extraction run-rate capacity to Neptune's North American platform.

An investor group led by Valley Ridge Investment Partners, with capital and subordinated debt provided by Tecum Capital Partners and C3 Capital Partners, recapitalized National Power Corporation. Founder and CEO Eddie Youngblood remains with a minority stake; the financing will support hiring, service and product expansion, ERP upgrades and inorganic growth initiatives.

Clearlake Capital completed the acquisition of Dude Solutions, a Cary, North Carolina-based SaaS provider of operations and asset management software, from Warburg Pincus. Clearlake will partner with CEO Ed Roshitsh and the existing management team (who are reinvesting) to pursue a buy-and-build growth strategy and expand the Company's product and go-to-market capabilities.

Carousel Capital has partnered with Armstrong Transport Group management to recapitalize the Charlotte-based freight brokerage, providing equity from Carousel Capital Partners V and senior debt from Barings. Armstrong, a technology-enabled, non-asset based logistics platform that facilitates nearly $500 million in annual transportation spend for over 4,000 customers, will use the investment to accelerate growth and expand its technology and service offerings.

Trive Capital, alongside co-investors Six Pillars Partners and Swordstone Partners, has acquired the hiring solutions business of Kronos Incorporated and rebranded the business as Cadient Talent. Cadient is a SaaS applicant-tracking and assessment platform focused on high-volume, hourly hiring in the United States and Canada; Trive says it will invest in product development and support growth.

Valtech, a global business and technology consulting group, has agreed to acquire U.S.-based DigitalESP in a full stock-swap transaction. The deal will integrate DigitalESP into Valtech's North American unit (headquartered in Addison, Texas) to expand Valtech's IBM WebSphere capabilities and strengthen its presence in the U.S. insurance and financial services markets.

Greybull Stewardship, a long-term investment partnership, has made an equity investment in Capstone Event Group, a Raleigh-based operator of road race events. The capital will support CEG's growth and expansion of its race portfolio across North America; terms were not disclosed and CEG's CEO Charlie Mercer will remain in place.

Great Point Partners completed a growth recapitalization of Raleigh-based Tergus Pharma to fund construction of a new 100,000 square-foot commercial manufacturing facility for topical dermatology pharmaceuticals. The investment will expand Tergus' clinical and commercial manufacturing capacity and enable the company to offer end-to-end formulation, testing, and manufacturing services.