Acquisitions in North Carolina in 2024

Havencrest Capital Management’s Avid Health at Home platform has acquired Sandhills Home Care, a North Carolina-based provider of at-home personal care services. Sandhills operates across 14 counties with offices in Pembroke, Rockingham and Wilmington; the deal is Avid’s fifth platform acquisition and its second in North Carolina.

Summit Financial, via its Summit Growth Partners partnership, acquired a minority stake in Gordon Asset Management, a boutique advisory firm headquartered in Durham and Pinehurst, North Carolina. The investment will give Gordon access to Summit’s network, capital and in-house strategy resources and is intended to expand Summit’s retirement-plan capabilities and accelerate Gordon’s growth while preserving local operating control.

Bluestone Investment Partners has made a strategic growth investment in Valiant Solutions, LLC, a federal cybersecurity provider headquartered in Henderson, North Carolina. The transaction will support Valiant's next phase of growth — including new executive hires George Wilson and Tom Weston — while founder Matt Raydo remains to lead business development and customer continuity.

Whistler Capital Partners has made a strategic growth investment in GXP-Storage to accelerate the company's technology development and expansion of its regulated material management and biorepository services. GXP-Storage founder and CEO Jeff Johnson remains a significant shareholder; the capital will support capacity expansion at GXP's Middlesex, North Carolina campus and further development of the GXP-Guardian platform.

Greenlight Health Data Solutions and Pattern Health have merged, with the combined company continuing under the Greenlight Health Data Solutions name. Ed Barber, co-founder and CEO of Pattern Health, will lead the combined company as CEO, while Greenlight founder Steve Malik will be majority owner and chairman; the merger is supported by a $6 million investment to expand sales and marketing and accelerate product capabilities for life sciences, CROs and insurers.

May River Capital and its portfolio company RLE Technologies have acquired NDSL Group Ltd., manufacturer of the Cellwatch battery-monitoring product line, and merged the businesses to form a new platform called Parameter. The combined company brings together battery monitoring and facility-environment monitoring capabilities to serve data centers, utilities, telecom and other critical-infrastructure end markets.

Houston-based Ezee Fiber acquired Conterra Networks’ New Mexico fiber assets, adding 128 miles of installed fiber across Santa Fe, Rio Rancho and Los Lunas. Terms were not disclosed; Ezee Fiber said the deal will accelerate its FTTH deployment and broader New Mexico expansion as part of a multi-state growth plan.

Comvest Private Equity has completed a recapitalization of Bland Landscaping, a regional commercial landscaping services provider headquartered in Apex, North Carolina. Prospect Partners has exited its investment; Bland will continue to be led by CEO Kurt Bland and CFO/COO Matt Bland as Comvest supports further organic and acquisitive growth.

Precision Roll Solutions, a portfolio company of Guardian Capital Partners, acquired Charlotte-based ARC International on December 9, 2024. The add-on purchase expands PRS's engraving and manufacturing capabilities for the corrugated packaging market, increasing capacity and product offering; terms were not disclosed.

Sonic Automotive acquired Motorcycles of Charlotte and Motorcycles of Greensboro from Mark and Gail Engel, expanding its Sonic Powersports footprint in the Southeast. Performance Brokerage Services served as sell-side advisor and both dealerships will continue operating at their current locations in North Carolina.

Atlantic OBX, Inc. acquired McCall Environmental Inc., which does business as Site Services, a dumpster rental and waste-hauling operator in the Outer Banks. The deal, which closed December 6, 2024, was led by Lakeside Acquisitions on behalf of Site Services and will expand Atlantic OBX's waste offerings and geographic density across eastern North Carolina and into Virginia; financial terms were not disclosed.

Element451, an AI-first student engagement and CRM platform headquartered in Raleigh, North Carolina, received a $175 million strategic growth investment from PSG to accelerate AI-driven features and expand adoption across higher education. The funding will support product development and market expansion as Element451 scales its customer base of 250+ institutions.

CCMP Growth Advisors has acquired Combined Caterers, a premium event management and catering services provider headquartered in Charlotte, North Carolina. Stellus Capital Management provided senior debt financing and an equity co-investment to support the transaction, while Falfurrias Capital Partners exited its investment; Combined Caterers' management (CEO Justin King and CFO/COO Melissa Sutherland) will remain significant shareholders.

Uptiq.AI has acquired UpSwot to integrate UpSwot's Financial Data Gateway into Uptiq's AI Workbench, enhancing data integration and enabling AI agents to query and embed third-party accounting, banking, payroll, ERP, and CRM data. The acquisition strengthens Uptiq.AI's enterprise AI platform for financial institutions and accelerates product capabilities for use cases such as personalized customer interactions, loan origination, compliance, and portfolio management.

Risant Health has completed its transaction to become the sole corporate member of Cone Health, bringing the Greensboro-based nonprofit health system into Risant's value-based care network. The deal, which involved no cash consideration, expands Risant's platform alongside Geisinger and aims to accelerate adoption of value-based care and shared technology and services across member systems.

Emerald Publishing Limited has acquired Information Age Publishing (IAP), adding more than 2,600 books and six peer-reviewed journals to Emerald’s academic portfolio. The acquisition expands Emerald’s strengths in Education, Management and Psychology and significantly enhances its author footprint in North America.

Davies has acquired Barker Claim Services, an independent loss adjusting firm based in Greensboro, North Carolina, to strengthen its claims handling capabilities across Virginia, North Carolina, South Carolina and northeast Tennessee. Financial terms were not disclosed; the deal expands Davies' North American footprint and adds regional property, casualty and motor claims expertise to its insurance solutions offering.

NUSO, a cloud communications and contact center platform provider, has acquired T-Metrics, a provider of secure, government-compliant contact center solutions. The acquisition expands NUSO's enterprise and public-sector capabilities by integrating T-Metrics' FedRAMP/StateRAMP/JITC-capable solutions and experienced team.

Summit Spine & Joint Centers has acquired Integrated Pain Solutions, a pain management practice with 18 providers across 11 locations in North Carolina. This marks Summit's first add-on acquisition and expands its minimally invasive spine and pain services footprint into North Carolina, increasing the platform to 41 locations across three states.

Charlesbank Capital Partners has made a strategic investment in IMPLAN Group LLC, a Huntersville, North Carolina–based provider of cloud-based economic impact data and analytical software. Existing investor Boathouse Capital fully exited the business; Charlesbank's capital will be used to accelerate product development, expand datasets and geographic coverage, and pursue accretive acquisitions.

Sentinel Capital Partners has acquired NSI Industries, a Huntersville, North Carolina-based manufacturer and supplier of branded electrical and HVAC components, from Odyssey Investment Partners. Financial terms were not disclosed; Sentinel says the transaction creates a new platform that builds on the firm's experience in branded electrical products and aims to support NSI's continued growth across distribution and manufacturing capabilities.

H.I.G. Growth Partners completed a significant growth equity investment in Carebox to help scale the company’s AI-driven clinical trial matching platform, CareboxConnect. The capital will support product and commercial expansion to connect more patients and physicians with relevant clinical trials and deepen partnerships with life sciences firms and research organizations.

Installed Building Products, Inc. (IBP) acquired Tatum Insulation III, LLC, an insulation and interior building-products installer headquartered just outside Wilmington, North Carolina. The acquisition adds over $17 million of annual revenue and expands IBP’s geographic footprint and presence with single-family, multi-family and commercial customers throughout North Carolina.

Contemporary Concepts, a bereavement services firm founded in 1982, was acquired by Paul and Lisa Hulbert III in a transaction facilitated by Viking Mergers & Acquisitions. Seller Doug Cullen exited after more than 40 years; the buyers intend to continue the company's service to families, funeral homes, and community sponsors.

D&H United Fueling Solutions, a Wind Point Partners-backed platform, has acquired HCN Petroleum Equipment, a turnkey petroleum service and equipment provider based in Newland, North Carolina. The add-on acquisition expands D&H’s service footprint in the Southeast and enhances its capabilities in fuel system installation, maintenance, compliance management and repair services.

Brixey & Meyer Capital (BMC) has acquired Smith Equipment Solutions, a Raleigh, North Carolina-based provider of sales, installation and field service for automotive aftermarket shop equipment. The transaction — closed October 31, 2024 — is BMC's second add-on to its automotive equipment platform (following its recent ProMain purchase) and the sellers, Wil and Emily Smith, will retain an ownership stake.

Comvest Private Equity has made a majority investment in Riccobene Associates Family Dentistry, a Cary, North Carolina-based dental service organization (DSO) operating ~60–62 clinics across North Carolina, South Carolina and Virginia. The transaction was completed with The Beekman Group (Beekman Investment Partners III) selling its interest; Dr. Michael Riccobene remains CEO and retains a meaningful ownership stake as Comvest supports accelerated clinic expansion in the Southeast.

Headlands Research has acquired Trial Management Associates (TMA), a multi-site clinical research company with locations in Wilmington, North Carolina and Myrtle Beach, South Carolina. The deal expands Headlands Research's network to 21 sites across the United States and Canada and strengthens its southeastern U.S. footprint and clinical capabilities.

Celsius Holdings, Inc. acquired Big Beverages Contract Manufacturing, L.L.C. for $75 million in a deal that closed on November 1, 2024. The acquisition adds a 170,000-square-foot beverage manufacturing and warehouse facility (principally dedicated to CELSIUS production) in the Charlotte metro area, providing Celsius greater supply-chain control, faster innovation cycles and expected margin improvement.

Carta has acquired Tactyc, a Morrisville, North Carolina-based provider of portfolio forecasting and planning software for private funds. The acquisition integrates Tactyc's real-time forecasting, planning and portfolio management capabilities into Carta's fund administration platform to give fund CFOs and GPs data-driven insights for capital allocation and fund performance optimization.

Brixey & Meyer Capital (BMC), a Cincinnati-based private investment firm, has acquired Professional Maintenance & Equipment, Inc. (PME), a Wade, North Carolina-based distributor and service provider of aftermarket automotive shop equipment. PME's founders Mark and Steven Holden will remain in leadership roles and retain ownership stakes as BMC positions PME for geographic and service/product expansion as part of a broader aftermarket automotive equipment investment strategy.

Ledger Run, together with growth investor Blue Star Innovation Partners (BSIP), has acquired Assentia, a Raleigh-based tech-enabled clinical trial services provider. The acquisition will integrate Assentia's global clinical trial contract negotiation and investigator payments capabilities into Ledger Run's ClinRun platform to expand the company's professional services and end-to-end trial offerings.

Hunt Military Communities (HMC) has acquired Atlantic Marine Corps Communities (AMCC) from Lendlease, adding approximately 7,900 housing units serving about 24,000 residents across eight military installations. The purchase expands HMC’s military housing portfolio and deepens its partnership with the U.S. Marine Corps, with planned investments in property improvements and resident services.

AEA Investors’ Small Business Private Equity team has closed the acquisition of Dana Safety Supply, a Greensboro, North Carolina–based public safety vehicle upfitter and tactical gear distributor. The deal includes significant investment from Dana Safety Supply’s management and positions AEA to pursue organic growth and further M&A in the public safety services market.

Columbia Home Services, a Dallas-area residential and light commercial home services platform, has partnered with Wilmington-based Airmax Heating and Cooling. The deal brings Airmax into Columbia's platform to expand the company's HVAC presence in North Carolina while retaining Airmax leadership and employees.

OutSolve, a portfolio company of The Riverside Company, has acquired Labor Law Center to expand its suite of labor and employment compliance solutions. Kian Capital Partners will continue as a meaningful minority investor in the combined business, creating a larger, integrated compliance platform serving employers nationwide.

Presidio has acquired Charlotte-based Internetwork Engineering (IE) to strengthen its scale and presence across the Southeast U.S. The deal expands Presidio's networking, data center and cybersecurity capabilities and provides cross-selling and managed-services opportunities for IE within Presidio's larger portfolio; financial terms were not disclosed.

MEI Rigging & Crating, a portfolio company of Olympus Partners, has acquired Coast Rigging and Machinery Moving, a Charlotte-based provider of rigging, machinery moving, millwrighting, crating, and export packing services. The add-on strengthens MEI's footprint in North Carolina and the broader Southeast while retaining Coast's leadership to support integrated growth.

Gladius Communications has acquired Marcoux Strategies, a woman- and minority-owned strategic communications firm focused on federal-civilian and defense/aerospace clients. Founder Sandra Pérez will join Gladius as Vice President to lead the combined firm's defense and aerospace practice, expanding Gladius’s capabilities and client footprint in the aerospace & defense sector.

King Risk Partners has acquired Insurance Solutions Group, Inc., an independent insurance agency based in Garner and Fuquay-Varina, North Carolina, to expand its presence in the greater Raleigh market. The acquisition brings Insurance Solutions Group’s local client relationships and expertise in personal, business and life insurance into King Risk’s larger regional brokerage platform.

Caldera Medical has acquired UVision 360, the developer of the LUMINELLE hysteroscopy and cystoscopy systems, expanding its minimally invasive women's health device portfolio. The deal brings the LUMINELLE product family — including the new LUMINELLE Bx on-demand biopsy technology — into Caldera's commercial infrastructure to broaden office-based and surgical hysteroscopy capabilities.

Applied Technical Services (ATS) has purchased substantially all of the assets of Amphion Analytical Engineering, P.A., a Charlotte-based engineering and analytical services firm. The acquisition adds API certifications, additional licensed Professional Engineers and mechanical integrity capabilities to ATS, and expands ATS's presence in the tire manufacturing, chemical, and pharmaceutical end markets; the new team will be led by Mark Ellis.

Quality Collision Group (QCG), an operator of OEM‑certified collision repair centers, has acquired Triangle Collision, a premium collision repair facility in Morrisville (near Cary), North Carolina. The deal expands QCG’s network to 71 locations and strengthens its presence in the greater Raleigh metropolitan area with an OEM‑certified shop capable of Tesla and other manufacturer repairs.

Enbridge Inc. has completed the acquisition of Public Service Company of North Carolina, Incorporated (PSNC) from Dominion Energy. PSNC — a regulated single-state natural gas utility serving over 600,000 customers with more than 13,000 miles of pipeline — will operate as Enbridge Gas North Carolina and join Enbridge's Gas Distribution and Storage business unit.

Integrated Openings Solutions (IOS), a Frontenac-backed specialty distributor of commercial door and access control solutions, has acquired B.A. Hoft of Charlotte, Inc., a Mooresville, North Carolina-based supplier of architectural hardware, doors and Division 10 specialties. The deal expands IOS's service footprint and capabilities in the Southeast while keeping Chris King in place as President of the acquired business.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Kiely Wealth Advisory Group (KWAG), a North Carolina-based registered investment adviser with $523 million in assets under management and 530+ clients. The deal expands Mercer’s presence in North Carolina and gives KWAG clients access to Mercer’s broader suite of wealth, estate, tax and insurance planning services. Cambridge International Partners served as exclusive financial advisor to KWAG.

Marsh McLennan (through its Marsh McLennan Agency business) has acquired McGriff Insurance Services, LLC for $7.75 billion in cash, a deal that strengthens Marsh McLennan Agency’s capabilities across commercial property & casualty, employee benefits, management liability and personal lines. McGriff—an affiliate of TIH—reported roughly $1.3 billion of trailing twelve-month revenue and will bring more than 3,500 employees into Marsh McLennan; the transaction closed following customary regulatory approvals.

Authentic Brands Group has completed the acquisition of the Champion brand and certain operating assets from HanesBrands. As part of the deal, Authentic granted a license for Champion's U.S. collegiate apparel and teamwear business to GearCo, which will be managed by Ames Watson (with Fanatics as an investor), to drive growth in the collegiate and teamwear markets.

Renfro Brands has acquired MJ Soffe (Soffe), the iconic athletic and lifestyle apparel brand, as part of a strategic effort to broaden its product portfolio and deepen its presence in the retail activewear market. The deal transfers the Soffe brand from Delta Apparel to Renfro and will allow Renfro to expand into apparel categories beyond its core socks and legwear business.

Pace Life Sciences, a PE-backed CDMO, has acquired Catalent’s Center-of-Excellence for Small Molecule Analytical Services located in Research Triangle Park, North Carolina. The acquisition expands Pace Life Sciences’ national analytical testing network (to nine sites) and strengthens its small- and large-molecule analytical capabilities to support biopharma clients; Catalent sold the site as part of its portfolio adjustments.