Acquisitions in Ohio in 2019

Blue Point Capital Partners (Fund IV) acquired Country Pure Foods, Inc., a leading producer of better-for-you beverages and related juice products, in partnership with Country Pure management and former CEO Raymond Lee. The deal includes Silver Springs Citrus, LLC and positions Blue Point to grow the platform across grocery retail, healthcare and education foodservice, and into plant-based and frozen-novelty beverage categories.

Visible Supply Chain Management has purchased the assets of West Chester, Ohio-based Trade Global out of bankruptcy and will continue operating the business under the Visible name. The acquisition preserves more than 350 local jobs and expands Visible's e-commerce fulfillment, warehousing and logistics capabilities by adding an Ohio location and Trade Global's client base.

Fort Worth-based Novaria Group has acquired Long-Lok, LLC, a manufacturer of self-locking and self-sealing fasteners with operations in Cincinnati, Ohio and Carson, California. The acquisition expands Novaria's portfolio of proprietary aerospace fastening products and strengthens its offerings to aerospace and defense OEM customers.

Centauri, a PE-backed defense technology and engineering firm, has acquired The Design Knowledge Company (TDKC) and PreTalen, Ltd., both headquartered in the Dayton, Ohio region. The transactions expand Centauri's capabilities in microelectronics trust, space domain awareness, PNT (positioning, navigation and timing) and cyber warfare, more than doubling its Dayton headcount and prompting new R&D and secure facilities in the region.

Vertiv, a Platinum Equity portfolio company and global provider of critical digital infrastructure, will become a publicly traded company through a business combination with GS Acquisition Holdings Corp (a SPAC). The transaction is sponsored by affiliates of The Goldman Sachs Group and David M. Cote, values Vertiv at an anticipated pro forma enterprise value of about $5.3 billion, and leaves Platinum Equity as a significant post-close shareholder.

MAI Capital Management, an independent registered investment adviser based in Cleveland, acquired Rodman Capital Management of Alliance, Ohio, in a deal that closed December 6, 2019. The acquisition adds more than $75 million of assets under management and brings David Rodman into MAI as Wealth Manager and Managing Director, expanding MAI's geographic footprint in Ohio.

CORE Industrial Partners’ portfolio company Midwest Composite Technologies (MCT) has acquired ICOMold, a digital manufacturer specializing in injection molding and CNC machining headquartered in Toledo, Ohio. The add-on expands MCT’s traditional and additive manufacturing capabilities alongside its recent FATHOM acquisition to create a larger on‑demand digital manufacturing platform; financial terms were not disclosed.

AE Industrial Partners (AEI) has acquired AIM MRO, a Cincinnati-based manufacturer and supply chain manager of consumable repair products for the aerospace engine aftermarket. The transaction, which closed Dec. 2, 2019, positions AEI to expand AIM MRO's capabilities and accelerate growth across global aerospace engine and gas turbine MRO customers.

The Jordan Company has completed the acquisition of Polymer Solutions Group’s Polymer Additives division (PSG Polymer Additives) from Arsenal Capital Partners. The Cleveland-headquartered business supplies proprietary polymer additives, dispersions and performance chemicals to rubber, plastics and engineered wood markets and will partner with TJC to expand its global platform and grow its market position.

Private equity firm ClearLight Partners has made an investment in Handel's Homemade Ice Cream in partnership with owner Leonard Fisher; terms were not disclosed. Headquartered in Youngstown, Ohio, Handel's operates nearly fifty corporate and franchised scoop shops across multiple U.S. states, and ClearLight said the investment will support national expansion of the brand.

MRI Software has acquired Multifamily Insurance Partners, a Ohio-based provider of resident renters insurance programs and insurance compliance solutions for the U.S. multifamily rental market. The deal integrates Multifamily Insurance Partners' resident insurance capabilities into MRI’s MRI Living residential suite to streamline leasing/onboarding and help property owners close insurance gaps and reduce uninsured losses.

Hillenbrand, Inc. completed the acquisition of Milacron Holdings Corp. in a cash-and-stock transaction valued at approximately $1.9 billion, with Milacron stockholders receiving cash and Hillenbrand shares. The deal expands Hillenbrand's scale and product portfolio in plastics processing and injection molding, with expected annualized cost synergies of about $50 million within three years.

Providence Equity Partners has made a majority investment in n2y LLC, a Huron, Ohio–based provider of software, curriculum and tools for K‑12 special education. The Riverside Company and members of n2y's management will remain minority shareholders as Providence supports the company's organic and acquisition growth plans.

Risk Strategies, a privately held national insurance brokerage, has acquired Zito Insurance Agency, a full-service brokerage headquartered in Mentor, Ohio. Zito, founded in 1963 with 36 employees and a second office in Rocky River, will join Risk Strategies to expand the buyer's presence and capabilities in Ohio while preserving Zito's client-focused approach.

Shorehill Capital acquired an ownership interest in Triad Technologies, LLC in partnership with Triad's management team and the Wissman family. The Wissman family retained a significant ownership stake and Doug Wissman will join the company's board; Twin Brook Capital Partners and Maranon Capital provided financing. Triad is a Vandalia, Ohio-based value-added distributor of industrial fluid power and automation solutions, serving more than 7,000 active customers across 21 locations.

InFuse Holdings Inc., backed by a Series A investment led by BroadOak Capital Partners, has acquired Cincinnati-based Horizon Infusions, founded in 1997. The financing and acquisition position Horizon as a platform for InFuse to expand a network of ambulatory infusion centers across Ohio and the Midwest.

Huron Capital’s XLerate Group has acquired Columbus Fair Auto Auction (CFAA) from the Jacobs family. The add-on expands XLerate’s nationwide auction and remarketing platform, strengthening its Midwestern presence and capabilities to service fleet/lease and financial institution customers.

SK Capital completed the acquisition of the Performance Products & Solutions business from PolyOne Corporation (transaction announced at ~$775 million) and has renamed the carved-out business GEON Performance Solutions. The company, headquartered in Avon Lake, Ohio, operates 12 manufacturing sites across North America and Asia, employs ~1,100 people, and will be run as a standalone platform focused on plastic compounding and contract manufacturing.

Epicor Software Corporation acquired 1 EDI Source, a provider of electronic data interchange (EDI) and B2B integration solutions, in a transaction that closed on October 1, 2019. The acquisition expands Epicor’s business services and supply-chain connectivity capabilities by adding 1 EDI Source’s cloud and on‑premise EDI and managed-service offerings; financial terms were not disclosed.

Continuity, a New Haven-based regulatory technology provider, has acquired Ohio-based TraceRisk, a cloud-based enterprise risk management (ERM) software provider. The acquisition integrates TraceRisk's ERM capabilities into Continuity's compliance management suite to offer a unified risk-and-compliance platform for banks, credit unions, mortgage companies and fintech firms.

Groundworks Companies, a portfolio company of Succession Capital Partners, has acquired Ohio Basement Systems. The team of nearly 100 employees will join Groundworks while founder Mike Rusk will join Groundworks' advisory board and the Ohio Basement Systems brand will continue to operate under its name as part of the Groundworks platform.

MedVet Associates, a Columbus-based network of specialty and emergency veterinary hospitals, completed a recapitalization in mid-2019 that resulted in Stonehenge Partners exiting its investment. The transaction brought an investment from the Goldman Sachs Merchant Banking Division to support MedVet's continued national expansion; terms were not disclosed.

Huron Capital made an additional equity investment in its pallet platform, Northwest Pallet Holdings, and combined Northwest Pallet with Prime Woodcraft Inc. The merged company will be headquartered in Schaumburg, Illinois, with Jack Donnell serving as President and CEO and Prime founder Ansir Junaid remaining a board member and significant shareholder.

Altas Partners has signed and completed a definitive agreement to acquire DuBois Chemicals, a Cincinnati-based specialty chemical manufacturer and solutions provider, from The Jordan Company. Altas said it will support DuBois' next phase of growth through organic initiatives and selective acquisitions; financial terms were not disclosed.

Descartes Systems Group acquired BestTransport.com, Inc., a Columbus, Ohio–based cloud transportation management system (TMS) provider focused on flatbed-intensive manufacturers and distributors. The acquisition (approximately US$11.2 million, net of working capital) expands Descartes' transportation management footprint and adds BestTransport's flatbed-focused TMS capabilities to Descartes' Global Logistics Network.

Deltek has completed its acquisition of ComputerEase, a provider of construction accounting, project management, and field management software. The deal expands Deltek’s portfolio of solutions for construction contractors and strengthens its offerings for A&E and construction-focused customers.

Kinderhook Industries, a New York-based private investment firm, acquired Chemtron Corporation, a hazardous and non-hazardous waste management provider headquartered in Avon, Ohio, from Cleveland private equity firm CapitalWorks. Financial terms were not disclosed; Kinderhook said the acquisition expands its environmental services platform and adds Chemtron's diverse treatment, processing and railcar/ISO container capabilities to its portfolio.

Castle Harlan, Inc. and Branford Castle Partners have acquired Sunless, Inc., the global maker of spray tanning booths, solutions and handheld equipment (brands include MysticTan, VersaSpa and Norvell). The sellers included funds controlled by The Riverside Company and certain current and former management; the deal closed August 13, 2019 and terms were not disclosed. Sunless is headquartered in Macedonia, Ohio and is the industry leader in spray tanning booths and solutions installed across salons, fitness clubs and retail channels.

Genstar Capital has agreed to acquire a majority stake in OEConnection LLC (OEC) from funds advised by Providence Equity Partners, with Ford Motor Company and General Motors retaining minority stakes. Financial terms were not disclosed; the deal is expected to close in Q3 2019 and aims to support OEC's expansion of product offerings, geographic footprint and M&A activity.

Torsion Group Corp (TGC), a manufacturer and distributor of garage door parts and accessories, acquired North Shore Commercial Door (NSCD), an established online retailer and distributor of garage door replacement parts and openers. The deal expands TGC’s e-commerce presence, broadens its product offering and provides access to DIY customers and dealers outside TGC’s traditional channels.

PriceSpider has acquired ORIS Intelligence and will integrate ORIS’s pricing-integrity and actionable insights into PriceSpider’s SaaS platform to strengthen brand protection, pricing integrity and consumer conversion intelligence. The combined offering is positioned to serve more than 1,300 brands and expand PriceSpider’s capabilities across e-commerce and retail analytics.

Boston-based Charlesbank Capital Partners is acquiring WestView Capital Partners' minority stake in Park Place Technologies in a transaction that will occur alongside a recapitalization led by GTCR. The deal provides WestView liquidity while positioning Park Place—an Ohio-headquartered third-party maintenance provider with ~1,200 employees—for continued growth under GTCR and Charlesbank; terms were not disclosed.

Sweden-based HEXPOL has acquired Preferred Compounding Corporation, a Copley, Ohio–headquartered custom rubber compounding company, from Audax Private Equity (in partnership with management). The deal — reported at roughly $232 million — expands HEXPOL’s advanced compounding capabilities and North American footprint; Preferred supplies proprietary and custom mixed rubber compounds to automotive, general industrial and infrastructure end markets.

Pittsburgh-based private equity firm Incline Equity Partners has partnered with management to recapitalize Wholesale Supplies Plus (WSP), a distributor of raw materials and supplies for soap, cosmetics and candle makers. The investment will support capacity expansion, new product introductions and pursue acquisitions to accelerate growth.

Pete & Pete Container Services, Inc. has acquired Boyas Excavating, Inc., the largest privately held construction and demolition (C&D) landfill in Northeast Ohio. Brown Gibbons Lang & Company advised Pete & Pete on the transaction and financing was provided by Comerica Bank, Huntington Bank, and Ironwood Capital; terms were not disclosed. The deal creates a vertically integrated C&D platform serving Northeast Ohio.

Yak Access LLC, a Platinum Equity portfolio company, has acquired Klein's Restoration Services of Canton, Ohio. The add-on acquisition expands Yak Access's Midwest footprint and service capabilities (restoration, site development, matting and traffic control); financial terms were not disclosed and Klein's President Erik Klein will join Yak Access's leadership team.

Pritzker Private Capital has entered into a definitive agreement to acquire Valicor Environmental Services from Wind Point Partners. Valicor, based in Monroe, Ohio, is a leading North American provider of non-hazardous wastewater treatment and related liquid-waste services serving over 5,000 customers; management will remain in place and the deal was expected to close in July 2019.

ESO, a data and software company serving emergency medical services, fire departments and hospitals, has acquired Station Check, a web-based checklist, asset management and inventory software provider. The acquisition extends ESO's product portfolio and will integrate Station Check's tools into the ESO suite to improve preparedness, compliance and operational insights for EMS and fire organizations.

Avaap, an NMS Capital portfolio company, has acquired Navigator Management Partners, a Columbus-based cross-platform IT and management consulting firm specializing in ERP, business intelligence, and change management. The deal expands Avaap's cross-platform capabilities (adding Workday, Oracle, SAP, Tableau, Cloudera, Alteryx, Snowflake expertise) and positions the combined organization to serve more customers across healthcare, retail, higher education and other industries; Navigator's management will remain equityholders in the combined company.

HPH II Investments Master Fund, LP, a private equity fund managed by WM Partners, has acquired Ultima Health Products, Inc., a maker of sugar-free electrolyte hydration products. WM Partners (based in Ft. Lauderdale, Florida) said Ultima will be grown via channel expansion, new product development and operational improvements; terms were not disclosed.

An affiliate of Platinum Equity has completed the acquisition of Multi-Color Corporation, taking the Cincinnati-based label and packaging solutions provider private. The deal merges Multi-Color with a subsidiary of Platinum portfolio company WS Packaging to create a combined business with roughly $2.2 billion in annual revenue, 86 plants across 26 countries and over 10,000 employees.

CapitalWorks, through its Fund IV vehicle, acquired Essco, a leading U.S. value-added distributor of floorcare products, from Cardinal Equity Partners. Terms were not disclosed; CapitalWorks said it will accelerate Essco's growth by enhancing product offerings and e-commerce capabilities (Dan Sustar to join the advisory board) with senior financing provided by First Commonwealth Bank.

T-street Capital made an additional investment in its portfolio company Simplex – Infrastructure Solutions, LLC to acquire Dayton Superior’s Paving Division. The add-on creates a coast-to-coast manufacturer and supplier of highway infrastructure and specialty reinforcing-steel products across four locations and a combined 450,000 square feet of manufacturing footprint; T-street and Simplex appointed a new CEO and board members to lead integration.

Consolidated Precision Products Corp. (CPP), a Cleveland-based manufacturer of precision castings and sub-assemblies for the commercial aerospace, defense and industrial gas turbine markets, announced a recapitalization with Berkshire Partners alongside existing investor Warburg Pincus. The investment will support CPP's long-term growth strategy and capability expansion, including continued M&A activity; terms were not disclosed.

Alpine Investors has made a private investment in Northeast Ohio Eye Surgeons (NEOES) and its subsidiary Ohio Eye Care Consultants (OECC) to form a new ophthalmology platform focused on scaling clinical and surgical eye care in northeast Ohio. The practices will continue operating under their existing brands, and Alpine has named Joseph Giles as CEO-in-Residence to lead the new platform; terms were not disclosed.

Serent Capital has made a growth investment in Payliance, a payments processing, recovery, and risk management provider serving lenders and retail merchants. The partnership will provide Payliance with capital and Serent’s operating resources to scale the company’s payments platform and expand its market presence.

Ascensus acquired United Retirement Plan Consultants (URPC) from Stonehenge Partners in June 2019. The transaction, terms undisclosed, adds URPC's national retirement plan design, consulting and administration capabilities — including 12 U.S. sales/service centers and a processing center in India — to Ascensus's recordkeeping and TPA platform.

JBT Corporation completed the acquisition of Proseal UK Limited (tray sealing technology) and Prime Equipment Group, Inc. (turnkey primary and water re-use solutions for the poultry industry). The purchases (approximately $280 million for Proseal and $65 million for Prime) expand JBT's FoodTech capabilities to offer fuller line solutions for poultry customers and to accelerate deployment of automation and water-reuse technologies internationally.

Revenue Management Solutions (RMS), a Thompson Street Capital Partners (TSCP) portfolio company, acquired the assets of i8 Health Solutions to integrate i8's reconciliation and GL posting technology into the RMS healthcare remittance platform. The add-on expands RMS's capabilities in remittance automation and cash reconciliation across its provider, dental and pharmacy customer base; terms were not disclosed and i8 founders will remain with the business post-closing.

Gauge Capital has made a strategic recapitalization investment in irth Solutions, partnering with the company’s owners and management to support growth. irth, a Columbus, Ohio–based provider of UtiliSphere 811 ticket management and field service management SaaS for the energy, utilities and telecom sectors, will use the investment to accelerate market penetration, expand into new verticals and develop additional FSM capabilities.