Acquisitions in Oklahoma in 2022

Bridgepointe Technologies, backed by Charlesbank Capital Partners, has acquired PPT Solutions to expand its customer experience (CX) consulting and contact-center capabilities. PPT Solutions — a CX and contact-center consulting and managed services provider with ~55 employees — will operate as a Bridgepointe company to broaden Bridgepointe's tech advisory and managed services offering.

Denver-based 7E CO Holdings LLC, a division of Monfort Cos., acquired a 19-store portfolio of gas and convenience stores operating as Chisholm Corner across southwest Oklahoma (and one location in Wichita Falls, Texas). The seller was Brent Bostick of Bostick and Associates; financial terms were not disclosed. The transaction expands Monfort's multi-state convenience-store footprint.

Great Western Trailer (GWT) has acquired Southwest Trailer & Equipment, LLC, adding the company's Oklahoma City and Tulsa facilities to GWT's dealership network. The acquisition expands GWT's footprint into the Southwest and will allow GWT to extend its finance, leasing and rental offerings and after-market services to the added locations.

Integrated Power Services (IPS) has acquired Evans Enterprises, Inc., adding all eight Evans service locations to IPS's North American network. The acquisition expands IPS's geographic footprint across the South-Central United States and enhances its electromechanical, power management, and rotating equipment service capabilities.

Snavely Forest Products, a subsidiary of MacArthur Company, entered into a definitive agreement to acquire Mid-States Wholesale Lumber Company, an Oklahoma City-based wholesale lumber and building products distributor. The deal, expected to close by December 30, 2022, will preserve the Mid-States name and management while expanding Snavely's geographic footprint in the Midwest.

FleetPride, Inc. has acquired the assets of Harland Diesel Service, Inc., a full-service diesel shop in Ponca City, Oklahoma with 14 bays that has served the industry since 1979. The acquisition expands FleetPride's heavy-duty parts and service footprint in the region and is the company's eleventh acquisition of the year.

Princeton Medspa Partners has acquired Skin Care Institute, a Tulsa, Oklahoma-based medical spa founded by Dr. Jeff Alexander and Judy Alexander, bringing the platform's portfolio to five locations. The founders will remain involved (Judy as Executive Director and Jeff as Medical Director); the acquisition is an add-on to Princeton Medspa Partners' national medspa roll-up strategy.

HUB International Limited has acquired the assets of Bridgecreek Investment Management, LLC, a Tulsa-based boutique portfolio management firm that oversees more than $1 billion in assets. The Bridgecreek team, including co-founders Chuck Fuller and Brian Carney, will join Hub Mid-America as HUB expands its wealth advisory capabilities for high-net-worth clients across the region.

High Level Marketing (HLM), a tech-enabled digital marketing company based in Birmingham, Alabama, has acquired NDS Digital, an Oklahoma-based digital marketing agency. The deal expands HLM's national reach and strengthens its capabilities and presence in the home services marketing market.

Longwater Opportunities, an operationally focused private equity firm, has acquired Jetta Corporation, an Edmond, Oklahoma-based manufacturer of acrylic bathtubs. Terms were not disclosed; Jetta was owned by a consortium of 43 investors and was represented in the sale by ClearRidge.

Royal House Partners (RHP), a Dallas–Fort Worth based home services platform backed by CPS Capital and 1801 Holdings, has acquired Integrity Heat & Air, a residential and light commercial HVAC provider based in Oklahoma City, Oklahoma. The deal is an add-on to RHP’s roll-up strategy to expand its HVAC footprint in Oklahoma and strengthen its local service capabilities.

HKR, a Tulsa-based holding company owned by Bob Haiges, Don Kirkland and Fred Raschen, acquired CCL Acquisition, LLC (dba Custom Components & Logistics) in a transaction that closed on October 12, 2022. Custom Components & Logistics, a Catoosa, Oklahoma manufacturer of stainless steel, carbon steel and aluminum electrical and industrial control enclosures with in-house stamping, machining and tool & die capabilities, was majority owned by Sandy Brumley; John Johnson will remain as General Manager.

Zadeh Group, a Houston-based holding company, acquired Verge Network Solutions, a telecommunications provider serving community banks, from the selling owner and his family. Verge Network Solutions, headquartered in Oklahoma City, will join Zadeh Group's portfolio of technology companies to expand its telecom and hosted communications capabilities.

Morton Buildings, Inc. acquired Burrow's Post Frame Supply, a Fort Gibson, Oklahoma-based supplier of materials, estimating and logistics services for post-frame builders. Burrow's was a portfolio company of Woodlawn Partners; XLCS Partners served as exclusive advisor to Burrow's and the transaction closed on September 30, 2022.

Shawnee, Oklahoma-based Superior USA Waste (Superior Waste Industries) has acquired Harley Hollan Companies, a Tulsa-area solid waste management business that operates commercial collection, roll-off services, recycling and a transfer station. The transaction is an add-on to Superior's platform and was supported by equity and financing partners including Red Dog Equity LLC and Monroe Capital; Harley Hollan invested in Superior and will continue to manage the business.

EducationDynamics, a Renovus Capital portfolio company, has acquired EDU First, a provider of adult student prospects and higher-education lead generation services. The acquisition will expand EducationDynamics' enrollment marketing and student lead-generation capabilities to better serve its network of 500+ colleges and universities.

Covanta has acquired Miller Environmental Transfer (MET), a Tulsa-based provider of waste transportation and treatment services that serves the South-Central United States. The deal expands Covanta's sustainable materials management capabilities—including carbon-neutral offerings—and strengthens operations around its Tulsa waste-to-energy facility.

Royal House Partners, a home-services platform backed by CPS Capital and 1801 Holdings, has acquired Schuler Plumbing (Schuler Enterprises) of Oklahoma City, Oklahoma. The deal expands RHP’s plumbing capability and footprint in the Oklahoma City metro as an add-on to its residential and light commercial HVAC, plumbing and electrical roll-up strategy.

FDH Aero, a PE-backed aerospace & defense supply chain solutions provider, has acquired Electro Enterprises, Inc., a longtime Oklahoma City–based distributor of aerospace and defense electrical and electronic components. The deal expands FDH's electrical product portfolio and global footprint (Electro operates in Oklahoma, Texas, the United Kingdom and Israel), while Electro will continue to be led by Mitch Enright and operate from its existing locations.

SCF Partners, a Houston-based private equity firm, announced an investment partnership with T.D. Williamson (TDW), the Tulsa-headquartered global leader in pipeline intervention, isolation, inspection and pigging products and services. The partnership is intended to support TDW's growth and capability expansion globally while partnering with the Williamson family and management to pursue new opportunities, including those tied to the energy transition.

Angeles Equity Partners, in partnership with KJM Capital, acquired a majority stake in OBS Holdings, LLC (d/b/a Freymiller), a temperature-controlled trucking and freight brokerage provider headquartered in Oklahoma City. The investors will partner with CEO David Freymiller to accelerate growth, pursue strategic M&A, and expand Freymiller's refrigerated transport and cold-chain logistics capabilities; terms were not disclosed.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Bivin and Associates, Inc., a Ponca City, Oklahoma wealth management firm with approximately $130 million in AUM. The entire Bivin team will join Mercer, expanding Mercer's Midwest presence and adding local advisory capabilities while providing Bivin clients access to Mercer’s broader back-office, estate planning and tax services.

LightBox has acquired The Planning & Zoning Resource Company (PZR), a longstanding provider of zoning research and digitized zoning reports, to integrate PZR’s zoning library and municipal contacts into LightBox’s CRE data and analytics platform. The deal expands LightBox’s zoning capabilities within its LandVision product and broadens services available to commercial real estate customers and public-sector clients.

RV Retailer, LLC (RVR) has acquired Floyd's RV, adding two Oklahoma locations in the Norman (Oklahoma City market) and Glenpool (Tulsa market) areas and expanding RVR's store count to 99. The acquisition provides RVR entry into Oklahoma and brings Floyd's employees into RVR; the Floyd family is noted as the selling party.

Black Bay Energy Capital, a private equity firm focused on the North American energy sector, has acquired a majority interest in Advanced Industrial Devices (AID) from Rock Island Capital. The investment will support AID's growth by expanding its manufacturing, engineering and service capabilities to meet rising demand for electric motors and variable frequency drive (VFD) control systems across oil & gas and industrial end markets.

ImageFIRST, the national linen and laundry provider, has acquired Bartlesville, Oklahoma–based United Linen & Uniform Services, adding the company's one plant, one service center and two depots and marking ImageFIRST's first locations in Oklahoma and Arkansas. United Linen will remain under local leadership and existing employees will be retained; terms were not disclosed.

OTC Industrial Technologies has acquired ePUMPS, a Tulsa-based provider of pumps, mechanical seals, vacuum systems and compressors, which will operate under OTC's Pump Motor Technology (PMT) Group. The deal expands OTC's territory coverage and service capabilities in the South Central U.S.; ePUMPS has 28 employees and three locations serving Oklahoma and the Texas Panhandle.

Merit Financial Advisors acquired Union Financial Advisors, LLC, adding three Oklahoma offices (Tulsa, Norman and Perry) and approximately $370 million in assets under management. The deal establishes Merit's presence in Oklahoma and expands its national footprint and AUM base.

Stonebridge Partners completed a recapitalization of Godwin Formwork Solutions, with equity capital provided by Stonebridge, Five Points Capital, 747 Capital and company management and debt financing provided by Regions Bank and Five Points Capital. Founder Chad Godwin remains CEO and retained the largest individual ownership stake; Stonebridge plans to support growth of Godwin's branch network across targeted Midwest and Southwest U.S. markets. The transaction closed April 7, 2022.

Superior Waste Industries, d/b/a Superior USA Waste, a Shawnee, Oklahoma-based environmental services holding company, acquired Central Disposal, a solid waste management company headquartered in Shawnee, OK. The transaction was backed by private equity partner Red Dog Equity LLC (with financing support from Monroe Capital and available capital from The Pritzker Organization), and the founding Adcock family made a significant investment and will continue operating the business.

iLearningEngines Inc. has acquired in2vate LLC, a Tulsa-based risk management and learning platform provider that serves more than two million users across enterprises, educational institutions, health systems and law enforcement. The acquisition strengthens iLearningEngines' AI-driven learning automation capabilities and accelerates its go-to-market expansion in regulated and high-compliance verticals.

Hugg & Hall Equipment Company, a family-owned industrial and construction equipment dealership based in Little Rock, Arkansas, has acquired Southern Material Handling Company of Tulsa, Oklahoma. The acquisition expands Hugg & Hall’s Toyota Material Handling territory to cover eastern Oklahoma and adds sales, rental, parts and service capabilities to the company’s network.

Tulsa-based Citizen Energy closed the acquisition of substantially all oil and gas properties of Red Bluff Resources and Bricktown Energy, effective April 1, 2022. The deal adds ~13,000 BOEPD (56% liquids), ~200 operated wells and 739 non-op wells (an ~18% increase to Citizen's daily production) and was financed in part with $250 million of senior secured second lien notes provided by private funds managed by EIG; the company also increased its revolving credit facility to $1 billion.

Old Glory Holding Company has agreed to acquire First State Bank of Elmore City, Oklahoma, a transaction entered March 12, 2022 and expected to close November 30, 2022. The bank will be rebranded as Old Glory Bank and used as the chartered, FDIC‑insured platform for a digital‑first, nationwide retail bank focused on serving lower‑ and middle‑income Americans and patriotic constituencies.

Mortgage Connect LP has acquired ADFITECH, Inc. for approximately $29 million in cash, with ADFITECH to become a subsidiary and cease trading on the OTC market. The acquisition expands Mortgage Connect’s life-of-loan and capital markets capabilities by adding ADFITECH’s mortgage quality control, due diligence, fulfillment, and document management services while retaining ADFITECH leadership and staff.

TechPro Power Group Inc. has acquired Sentinel Power Services, Inc., including its subsidiaries Pencore Engineering & Consultants, LLC and Sentinel Field Services, LLC. The acquisition brings NETA-accredited electrical testing, commissioning, EPC and field-service capabilities into TechPro’s family of electrical and commissioning service businesses and will allow Sentinel to continue operating from its Tulsa, Oklahoma headquarters under existing management.

Fellers, together with Interwest Distribution Company, has acquired DigiCut, LLC, a Tulsa-based provider of film-cutting software and template libraries for automotive paint protection and window film. The acquisition brings DigiCut's software and large template library into Fellers' distribution footprint to improve installer efficiency and expand service offerings.

Compass Group Equity Partners has acquired Wilnat, Inc. (d/b/a KGM), a Tulsa-based distributor and servicer of measurement and regulation equipment for the natural gas utility industry. Comvest Credit Partners acted as administrative agent to provide a $55 million senior secured credit facility to support the acquisition and KGM's growth.

Seaport Capital has acquired Linen King, a Tulsa-based provider of outsourced healthcare laundry services, from Cimarron Healthcare Capital. The transaction transfers ownership of the 20-year-old company to Seaport as part of its investment to expand Linen King's service footprint and continue growth in the Mid-South healthcare market.

St. Louis-based private equity firm Compass Group Equity Partners acquired Wilnat, Inc., which does business as KGM, a Tulsa-based distributor and servicer of meters, regulators, valves, and other flow-control equipment serving utilities and municipalities. The transaction closed December 29, 2021; Compass intends to accelerate KGM's growth through geographic expansion, new product sets, and an expanded services/refurbishment offering. Tim and Nancy Wood were the selling owners.

Creative Brands (a subsidiary of CBC Group) has acquired Bella il Fiore, a family-owned Tulsa-based maker of sleep, spa and beauty textiles focused on the specialty gift, spa and wellness markets. Creative Brands said the acquisition will expand its women's sleepwear and spa product offerings and leverage its distribution, field sales, telemarketing and web capabilities to grow the Bella brand.

True Wind Capital completed a strategic growth equity investment in W Energy Software to accelerate the company's expansion into new markets and support product and M&A-led growth. M33 Growth and certain founders and shareholders rolled a meaningful portion of their equity; Mark Hill was appointed CEO as part of a leadership succession plan.

Kele, Inc., a portfolio company of The Stephens Group, LLC, has acquired A-tech, Inc., a distributor of industrial automation and process instrumentation. The business will operate as an add-on to Lesman Instrument Company to expand Kele's product breadth and regional footprint across several central U.S. states.

Ellsworth Construction, a total site infrastructure construction company based in Tulsa, Oklahoma, has acquired A-Tech Paving, a premier infrastructure contractor based in Oklahoma City. The deal expands Ellsworth's geographic capabilities across the State of Oklahoma and strengthens its asphalt, concrete, earthwork, utilities and pavement maintenance service offerings.

Empire Petroleum Corporation said Energy Evolution Master Fund, Ltd. converted the remaining $5.77 million of principal and accrued interest on a Senior Secured Convertible Note into 4,616,343 common shares, eliminating the associated debt and annual interest expense. The conversion reduces Empire's long-term institutional debt and strengthens its balance sheet, leaving only a $7.1 million loan from CrossFirst Bank.

Dynamic Infusion Therapy (DIT), a PE-backed provider of outsourced vascular access services, acquired Lifeline PICC of Tulsa, Oklahoma. The founder-owner Kathy Wagner will join DIT’s leadership to integrate Lifeline PICC as DIT expands its national vascular access platform and geographic footprint into the Tulsa market.

Oliver Inc., a Pfingsten Partners–backed specialty packaging platform, has acquired Professional Image and aspecialtybox.com, a Tulsa-based custom folding carton manufacturer and e-commerce stock packaging provider. The add-on expands Oliver’s geographic reach, capacity and design-forward packaging capabilities for customers in food & beverage, beauty, confection and consumer goods markets.