Acquisitions in Oklahoma in 2021

Rhône Group has acquired Paragon Films, a leading North American manufacturer of high-performance stretch films, from Wellspring Capital Management. The transaction is a secondary buyout intended to support Paragon's continued growth in sustainable, high-performance packaging solutions; financial terms were not disclosed.

CGI Automated Manufacturing, a CORE Industrial Partners portfolio company, has acquired Precision Metal Fab and Precision Tool & Die (collectively, PMF). PMF, headquartered in Ponca City, Oklahoma, provides CNC laser cutting, stamping, metal die formation, welding and assembly services and will be integrated into the CGI platform to expand its sheet-metal and fabrication capabilities.

American Pacific Group (APG) has acquired Fellers, Inc., the world's largest vehicle wrap distributor headquartered in Tulsa, Oklahoma. APG partnered with financing sources Platinum Equity and Angelo Gordon to complete the transaction; Bridgepoint Investment Banking served as exclusive financial advisor to Fellers. Fellers CEO Tom Brophy will remain in his role following the sale.

Dallas-based Energy Transfer LP completed its previously announced merger to acquire Oklahoma City-based Enable Midstream Partners, consolidating Enable’s gathering, processing, transportation and storage assets into Energy Transfer’s midstream network. The transaction, effective December 3, 2021, adds substantial fee-based cash flows and geographic footprint (Anadarko, Arkoma and Haynesville basins) and is expected to generate more than $100 million of annual run-rate synergies.

User Friendly Home Services has acquired Tom Hundley Heating & Cooling, adding the Tulsa-area HVAC and home services business to its national network of local HVAC and plumbing brands. The acquisition brings the Hundley family operations into User Friendly's platform to support growth and expanded service capabilities across residential and commercial customers.

Littlejohn & Co., a Greenwich-based private investment firm, acquired American Health Staffing Group (AHSG) from BelHealth Investment Partners. AHSG, headquartered in Edmond, Oklahoma, is a national healthcare staffing and technology platform led by CEO and founder Mark Smith; terms were not disclosed and management will remain in place.

Royal House Partners, a holding of CPS Capital, acquired Tiffany Air, LLC (dba Metro Service Company), a Bethany, Oklahoma-based HVAC contractor, with the transaction closing on November 10, 2021. The deal expands Royal House Partners/CPS’s footprint in residential and commercial HVAC, plumbing and electrical services as an add-on to its existing platform.

Marmic Fire & Safety Co., Inc. has acquired APS FireCo, a Tulsa-based full-service fire protection firm that provides inspection, installation and special-hazard suppression systems. The sellers — Chad and Amy Mariska and Chris Jones — will remain involved as partial owners while Marmic expands its capabilities and geographic footprint in Oklahoma and Texas.

River Cities Capital has partnered with FlexCare Infusion Centers, a patient-first ambulatory infusion platform headquartered in Oklahoma City, to provide growth equity to accelerate regional expansion across Oklahoma and Alabama. In conjunction with the investment, FlexCare announced three new center openings (two in Tulsa and one in Birmingham) and plans further expansion into additional markets.

Dallas-based private equity firm Crossplane Capital has acquired Domino Equipment Company, an Oklahoma City-based distributor and servicer of fuel station and car wash equipment that also operates 13 car washes. Founder Barry Brodersen will remain as CEO; Crossplane plans to expand Domino's presence within Oklahoma and into adjacent geographies while providing financial and operational resources for growth.

National Auto Care (NAC) has acquired Mojo Consulting LLC, an Oklahoma City-based finance & insurance (F&I) agency serving auto, RV, and powersports dealers. The deal expands NAC's presence in the Midwest and strengthens its F&I sales and training capabilities, with Mojo's founder Adam Hawthorne remaining in an operational role.

Fidelity Building Services (Fidelity BSG), a portfolio company of Oaktree Capital Management, has acquired AIR Technologies, an Oklahoma City–based mechanical/HVAC service provider. The add-on deal (effective October 8, 2021) expands Fidelity BSG's geographic footprint into Oklahoma and enhances its HVAC, sheet metal fabrication, and building-automation capabilities.

Inhance Technologies, a portfolio company of Aurora Capital Partners, has completed the acquisition of Advance Research Chemicals (ARC), a specialty chemicals and materials producer with production facilities in the United States and Mexico. The add-on expands Inhance's capabilities in high-purity specialty chemicals, custom synthesis and private-label manufacturing to serve end markets including medical batteries, semiconductors, 3D printing and pharmaceuticals.

Diversified Energy Co. Plc agreed to acquire upstream assets, field infrastructure and facilities in Oklahoma from Tapstone Energy LLC and an affiliate of Kennedy Lewis Investment Management for $419 million in cash. Oaktree Capital Management will co-invest, taking a non‑operated working interest (paying $192 million for ~48.75%); the deal adds ~660 net operated wells and ~12,000 boe/d of production to Diversified's central region footprint.

TMA Systems, a provider of web-based Computerized Maintenance Management Systems (CMMS), has secured a $68 million majority growth investment led by Silversmith Capital Partners. The capital will fund R&D and sales & marketing to accelerate product development and go-to-market expansion for TMA's WebTMA platform.

Custom Glass Solutions, LLC (CGS), a Stellex-backed glass manufacturer, has acquired Cameron Glass, Inc., a Broken Arrow, Oklahoma-based tempered glass fabricator. The acquisition (terms undisclosed) expands CGS's tempering capabilities and value‑add assembly offerings as part of its ongoing growth strategy.

Funds advised by Providence Equity Partners completed a majority growth investment in Tenstreet, a Tulsa-based provider of driver recruiting SaaS for the trucking industry. Tenstreet co-founder and CEO Tim Crawford will remain an investor and continue to lead the company while existing investor Spectrum Equity retains a significant minority stake; the capital will be used to accelerate product and team growth and to pursue strategic acquisitions.

N. Harris Computer Corporation (Harris), an operating group of Constellation Software, has acquired the revenue cycle management (RCM) software business of Innovative Healthcare Systems, Inc. The RCM business will join Harris' Ultimate Billing unit to expand its medical billing and emergency-department-focused RCM capabilities and support Innovative Healthcare's customers and employees.

Audax Private Equity acquired a majority stake in Covercraft Industries from Century Park Capital Partners. Covercraft, a Pauls Valley, Oklahoma–based manufacturer of custom vehicle protection products, will partner with Audax to pursue organic growth and buy‑and‑build add-on acquisitions.

The Boyd Group Inc. has acquired Collision Works of Oklahoma, LLC, a 35-location full-service collision repair operator across three Midwestern states. Harris Williams advised Collision Works on the sale; the acquisition expands Boyd Group’s U.S. footprint and capabilities in the collision repair aftermarket.

Argonaut Private Equity, a Tulsa-based private equity firm, announced the acquisition of Oklahoma-based Crimson Steel Supply, a rebar fabricator and structural steel supplier headquartered in Tulsa, Oklahoma. The partnership will leverage Crimson Steel's supplier and customer relationships to support growing infrastructure and highway/roadway construction demand nationwide.

Tyler, Texas-based Choice Health at Home acquired Oklahoma-based Alpha Home Health and Hospice, adding five service locations in Ada, Ardmore, Oklahoma City, Norman and Pauls Valley and expanding Choice’s home health and hospice footprint in Oklahoma. The deal strengthens Choice’s local operations and leadership bench, with Alpha’s CEO Carl Ganter joining Choice as Vice President of Business Operations.

Alera Group, a national insurance and wealth management firm, has acquired Keller Insurance Agency, a commercial property and casualty insurance brokerage that specializes in senior living and hospice facilities. Keller’s team — led by CEO Russ Keller and affiliated with Rich & Cartmill, Inc. — will continue serving clients; terms were not disclosed.

Old World Spices & Seasonings (OWS Foods) acquired Head Country, Inc., a Ponca City, Oklahoma-based maker of barbecue sauces, seasonings and marinades. The transaction represents an exit for Gladstone Investment Corporation, which had owned Head Country since 2014 and realized a capital gain on the sale.

D&H United Fueling Solutions has acquired Petroleum Marketers Equipment Company, a full-service petroleum industry supplier based in Oklahoma City, expanding D&H United's footprint in Oklahoma and northern Texas. The acquisition increases the combined company's coverage and resources across the Southwest and is supported by KLH Capital, which previously recapitalized D&H United.

Funds managed by Kelso & Company acquired Container Supply, Inc., a rigid packaging distributor headquartered in Oklahoma City. Kelso will combine Container Supply with its existing investments in C.L. Smith, Inmark, and Silver Spur to expand its packaging distribution platform and strengthen presence in the South-Central U.S.; financial terms were not disclosed.

HEICO Corporation’s Flight Support Group acquired 80.1% of the operating assets of Camtronics LLC for cash. The Tulsa-based FAA Part 145 repair station — which employs 36 people and performs proprietary FAA-DER repairs for commercial and cargo airlines — will continue operating in its current location with founder David Campbell remaining as VP and General Manager; the Campbell family retains ownership stakes.

Kemin Industries has acquired Norman, Oklahoma–based Bio-Cide International, a specialist in chlorine dioxide–based antimicrobial technologies. The deal adds Bio-Cide's OXINE, PRO-OXINE, KEEPER and PURITE technologies to Kemin's portfolio to strengthen its food safety, animal nutrition/health and human health offerings.

First Capital Partners provided mezzanine debt and equity to support a majority recapitalization of TPE Midstream, LLC in partnership with Willis & Smith Capital and TPE founders Doug Sahm and Brad Sando. TPE, based in Tulsa, Oklahoma, manufactures, sells and rents the ZEVAC zero-emission vacuum and compressor equipment used by large utilities and pipeline operators to mitigate methane emissions.

Summit Equity Group and Midwest Growth Partners, with co-investor Northcreek Mezzanine and Livingston management, acquired Livingston Machinery Company by purchasing stock held in the company’s ESOP and capitalized Ag Solutions Group Holding Company, LLC to combine Livingston with Ag Solutions Group. The move creates a scaled agricultural equipment dealer platform serving multiple Midwest and Southern states and provides capital for growth, M&A and management succession.

River Associates has acquired Pelco Products, Inc., an Edmond, Oklahoma-based manufacturer of traffic signaling hardware, utility products and decorative outdoor lighting. Financing for the transaction included subordinated debt and an equity co-investment from Northstar Capital (Northstar Mezzanine Partners SBIC, L.P.) and financing from Madison Capital Funding LLC.

NuMSP, a national managed service provider, has acquired Realize Information Technology, a Tulsa-based full-service MSP that serves small and mid-sized businesses. The deal marks NuMSP's 16th acquisition and expands its presence into the Tulsa, Oklahoma market while integrating Realize's team led by founder Jeff Woods.

Tall Oak Midstream (Tall Oak II), backed by Dallas-based private equity firm Tailwater Capital, has acquired Redcliff Midstream, a gas gathering, treating and processing provider operating in Oklahoma's Northern STACK play. The acquisition expands Tall Oak II’s pipeline, compression and processing footprint in the Northern STACK Extension region; financial terms were not disclosed.

Sylogist Ltd. (TSXV: SYZ), through its subsidiary Sylogist USA Inc., acquired Municipal Accounting Systems, Inc. (MAS), an Oklahoma-based provider of K-12 student information and school accounting software, for CAD 37.8 million (subject to working capital adjustments). The deal is immediately accretive to Sylogist, expands its K-12 SaaS offerings (MAS serves ~85% of Oklahoma districts and ~500 districts overall), and was financed with 50% cash and the remainder drawn on Sylogist's credit facility as the company simultaneously expanded that facility to CAD 75 million.

Continental Materials Corporation has acquired Carlson Company, a family-owned precision steel flange and ring manufacturer based in Tulsa, Oklahoma. The acquisition expands Continental Materials' manufacturing capabilities and product offering for heavy industrial end markets including petroleum refining, petrochemical, food processing and utilities; terms were not disclosed.

Creedence Energy Services (a portfolio company of Tower Arch Capital) has recapitalized ProChem Energy Services, making ProChem a wholly owned subsidiary while the Turner family and leadership team remain significant investors. The deal — financed by KeyBank with terms undisclosed — expands Creedence’s geographic footprint and in‑house chemical blending and oilfield service capabilities across major U.S. basins including the Permian, Eagle Ford and SCOOP/STACK.

Riley Exploration – Permian, LLC has completed a merger with Tengasco, Inc.; the combined company will trade as Riley Exploration Permian, Inc. (REPX) following a 1-for-12 reverse stock split. The transaction relocates the corporate office to Oklahoma City, installs Riley management (Bobby D. Riley as CEO) and a newly constituted board, and positions the combined company to grow reserves and production in the Permian Basin.

Houston-based Sierra Digital has acquired Stonebridge Consulting, a privately held technology solutions provider to the energy sector. The deal combines Sierra's automation, analytics and cloud capabilities with Stonebridge's energy-focused solution accelerators to expand delivery capacity and product/service offerings; terms were not disclosed.

North American Casualty Company, affiliated with Applied Underwriters, has completed the acquisition of Oklahoma Property and Casualty Insurance Company (OP&C) following regulatory approvals. The deal positions OP&C to write admitted business in the South Central U.S., while Applied Underwriters will repurpose its Texas Insurance Company to focus on Excess & Surplus (E&S) lines nationally to support trucking and specialty programs.

ACES 2020, LLC (ACES), a provider of applied behavioral analysis (ABA) services backed by growth equity firm General Atlantic, has acquired the Center for Language and Autism Support Services (CLASS), a Tulsa-based ABA provider. The acquisition will integrate CLASS's two clinics and in-home services into ACES's network to expand ABA access in Oklahoma and continue the platform's nationwide scale-up of evidence-based clinical care.

Tailwater Capital LLC has signed definitive agreements to acquire Tall Oak Midstream II and Tall Oak Midstream III from EnCap Flatrock Midstream. The transactions — executed via Tailwater Energy Fund III (Tall Oak III) and Tailwater Energy Fund IV (Tall Oak II) — will be integrated operationally with Tailwater's portfolio company Connect Midstream to expand pipeline, processing and compression capacity in the Arkoma STACK basin. Financial terms were not disclosed.

Air Lift Company has acquired Flo Airride Mfg., an Oklahoma-based manufacturer of air tanks for the lowered truck market. Operations and production will be moved to Air Lift’s Lansing, Michigan headquarters, Flo Airride founder Mike Alexander joins Air Lift Performance as Brand Manager, and Air Lift also gained rights to Slam'd Magazine.

Car Wash Owners Network (CWON), a portfolio company of Baltimore-based Access Holdings, has closed an investment in Okie Express Auto Wash, the largest express car wash operator in the Oklahoma City market. The deal brings CWON's affiliated network closer to its planned expansion and will partner with Okie management to accelerate growth across the company's 11 locations.

Xpress Wellness Urgent Care, a Latticework Capital-backed platform, has acquired MedNOW Urgent Care, an operator of four urgent care clinics in northeast Oklahoma. The deal brings MedNOW founders Drs. David Miller and Tony Hill into Xpress leadership and expands Xpress’s rural urgent care and employer health program footprint.

Sunvair Aerospace Group, a portfolio company of Blue Sea Capital, has acquired Mingo Aerospace, an FAA-certified Tulsa-based provider of cargo loading system repairs and thermal spray coatings. Sunvair plans to invest in new capabilities and equipment to support Mingo's expansion; financing for the transaction was provided by NXT Capital and Barings.

KPA, a provider of Environment, Health & Safety (EHS) compliance software and services, has acquired iScout, a cloud-based mobile EHS software provider based in Norman, Oklahoma. The acquisition adds mobile-first EHS and compliance software capabilities to KPA’s product portfolio and is intended to accelerate adoption among small and mid-sized customers in industries such as energy, manufacturing, construction, and transportation.