Acquisitions in Oregon in 2023

Kadant Inc. has agreed to acquire Key Knife, Inc. and certain affiliates for approximately $156 million in cash, with the deal expected to close in early January 2024. Key Knife, headquartered in Tualatin, Oregon, (141 employees, ~$65M trailing twelve-month revenue) will become part of Kadant's Industrial Processing segment; the acquisition will be financed primarily through borrowings under Kadant's revolving credit facility.

Chicago-based private investment firm Tilia Holdings completed a majority recapitalization of Ever Fresh Fruit Company, a Pacific Northwest-based processor and developer of formulated fruit and flavor ingredient solutions. The McKnight family remains significant shareholders and Ever Fresh CEO Gene Mayer will continue to lead the business as Tilia supports growth, geographic expansion, and broadened ingredient applications.

Jackson House has acquired a majority interest in Cameron Care, Inc., creating Cameron Care, LLC and retaining owner Corey Cameron as Executive Director. The deal expands Jackson House’s residential mental health footprint into Multnomah County and combines the two providers’ capabilities to broaden service offerings and streamline operations across Cameron Care’s three residential facilities (39 beds).

AutoManager Acquisition, Inc., a dealership software provider majority-owned by The Beekman Group, has acquired AutoAp, Inc., a Recalls‑As‑A‑Service provider that automates safety recall discovery and management for dealerships, fleets and rental companies. The acquisition bolsters AutoManager's product portfolio by adding recall-management technology and services to its dealer management and CRM offerings.

GT Golf Supplies, a Kinzie Capital Partners LP-backed wholesale golf distributor, has acquired The ProActive Sports Group, a Canby, Oregon-based national golf accessories distributor. The deal adds ProActive's Oregon distribution facility as a fourth DC, broadens GT Golf's product portfolio (including Clicgear, Rovic and Tempercraft lines), and expands the combined company's national footprint and e-commerce capabilities.

Wagner Logistics, a North Kansas City-based third‑party logistics provider, has acquired Fulcrum Logistics, Inc., a Portland, Oregon regional warehousing specialist focused on food and beverage storage and handling. Fulcrum will operate as a division of Wagner, expanding Wagner's capabilities and customer relationships in the food and beverage sector.

Embrace Software Inc has acquired Northwest Analytics (NWA), a provider of manufacturing analytics and Industry 4.0 digital transformation solutions. The deal—Embrace Industrial Group's sixth acquisition—adds NWA's analytics suite and manufacturing domain expertise to Embrace's industrial software portfolio and is intended to accelerate product R&D, including machine learning and generative AI capabilities.

LFM Capital, a Nashville-based private equity firm focused on lower middle market manufacturing and industrial services, has invested in SisTech Manufacturing, a Bend, Oregon-based contract manufacturer of high-complexity printed circuit board assemblies (PCBAs). The investment makes SisTech the sixth platform company in LFM's third fund and is intended to support growth and operational expansion in defense, aerospace, industrial, and consumer end markets.

Ultra Clean Holdings (UCT) has acquired HIS Innovations Group, a Hillsboro, Oregon-based supplier of semiconductor sub-fab components and integrated systems. UCT paid $50 million in upfront cash with up to $50 million in earn-outs (and potential additional performance-based consideration), aiming to expand its sub-fab capabilities, addressable market by ~$1.5 billion, and accelerate growth in semiconductor manufacturing.

Specialized Fabrication Equipment Group LLC (SFEG), a portfolio company backed by Gladstone Investment Corporation, acquired CPMT Holdings Corp. and its subsidiaries including Climax Portable Machine Tools, Inc. Gladstone Investment Corporation provided additional debt and equity to support the add-on acquisition, which closed on October 19, 2023; the seller was Industrial Growth Partners (IGP).

An affiliate of Gemspring Capital Management acquired Inflow Communications (InflowCX) from Renovus Capital Partners and will combine the business with Gemspring portfolio company Amplix. The transaction creates a larger technology advisory and CX services platform that expands Amplix’s customer experience, contact center, and managed services capabilities; financial terms were not disclosed.

Forefront Dermatology has acquired The Waldorf Center for Plastic Surgery, P.C. and The Spa at the Waldorf Center, Inc.; terms were not disclosed. Dresner Partners advised the sellers, and Forefront — a PE-backed dermatology platform headquartered in Manitowoc, Wisconsin with over 225 clinics — will integrate Waldorf’s Portland/Beaverton-area plastic surgery and spa services into its network.

Chicago-based ERA Industries has acquired i3DMFG, a Redmond, Oregon-based metal 3D printing (DMLS) service provider. The deal is an add-on to ERA’s PE-backed platform (supported by L Squared Capital Partners) to expand the platform’s metal additive manufacturing and production parts capabilities for aerospace, defense and medical end markets.

Evernorth Health Services, part of The Cigna Group, has acquired the technology and clinical capabilities of Bright.md to integrate asynchronous care, triage, and navigation into MDLIVE's virtual care platform. The deal aims to improve access and convenience for patients, reduce clinician administrative burden, and expand MDLIVE's capabilities for urgent care and chronic condition management.

Hunter Communications, a Grain Management-backed fiber-optic provider based in Medford, Oregon, has acquired Origin Networks LLC, the parent company of InfoStructure. The deal expands Hunter's regional footprint and technical capabilities for delivering business internet, voice and cloud services across Oregon.

Prairie Capital VII, LP partnered with the founders (the Arick family) to recapitalize STAR Autism Support, a Beaverton, Oregon-based provider of digital special education curriculum and professional development for K-12 districts. Prairie Capital will support acceleration of STAR's SaaS solutions through investments in talent, sales and marketing, product development and add-on acquisitions.

The SEER Group LLC has acquired a majority stake in All Fuel Installation and Service, a Troutdale, Oregon-based home services provider founded by Eric and Sheri Camp. The deal is The SEER Group's thirty-second acquisition (and fifth this year) as it expands its residential and commercial HVAC, plumbing and fuel-services footprint in the Portland metropolitan market.

Risk Strategies, a national specialty insurance brokerage, has acquired Benefit Design Group LLC (BDG), an independent Portland-based retail agency specializing in health, life and retirement solutions. The acquisition expands Risk Strategies' employee benefits capabilities and strengthens its presence in the Pacific Northwest; terms were not disclosed.

U.S. AutoForce, a division of U.S. Venture, has entered an agreement to acquire Pacific Tire Distributors, a family-owned wholesale tire distributor headquartered in Portland, Oregon. The deal, which is expected to close Sept. 11, 2023, expands U.S. AutoForce’s footprint in the Pacific Northwest by adding Pacific Tire’s four distribution centers to its network.

Guaranty Chevrolet, a family-owned Chevrolet dealership in Junction City, Oregon, has been acquired by CFO Auto Group, Inc. FOCUS Investment Banking represented Guaranty Chevrolet in the sale as owner Shannon Nill retires after 42 years with the business.

Risk Strategies, a national specialty insurance brokerage, has acquired Bisnett Insurance, a West Linn, Oregon-based full-service retail insurance agency. The acquisition expands Risk Strategies' presence in the Pacific Northwest and adds Bisnett's commercial, personal lines and employee benefits capabilities across Oregon, Arizona and Idaho; terms were not disclosed.

Douglas Guardian Services Corporation, a Farragut Capital Partners portfolio company, acquired Quiktrak, Inc., a Beaverton, Oregon-based provider of collateral inspection and verification services. The transaction is the first add-on for Douglas Guardian and is intended to increase scale and geographic footprint while creating cost-savings opportunities for the combined business.

Pavion (formerly Corbett Technology Solutions) has acquired REECE Complete Security Solutions, a Portland-based security integration firm. The add-on expands Pavion’s presence in the Pacific Northwest and strengthens its data center, utility, healthcare and education security integration capabilities; Pavion is backed by Wind Point Partners.

CollegeNET, a Portland-based provider of web-based technologies for higher education, has received a strategic growth investment from an affiliate of Peak Rock Capital. The investment will provide runway for product development — including CollegeNET's patent-pending AI Opportunity Drivers — and support the company's planned growth in higher-education technology markets.

Gemini Investors portfolio company American Standard Circuits has completed the acquisition of Sunstone Circuits, a Mulino, Oregon-based manufacturer of quick-turn printed circuit boards. The add-on expands ASC's prototyping and quick-turn capabilities, adding online design and ordering tools and broader capacity to serve engineers across electronics, medical and industrial end markets.

Duravant LLC, a global engineered equipment and automation solutions provider, has acquired PPM Technologies from Stonehenge Partners. The acquisition adds PPM’s conveying, coating, and thermal food-processing equipment to Duravant’s portfolio — complementing Key Technology and enhancing Duravant’s ability to offer turnkey, integrated processing lines and expanded aftermarket services.

Vita Inclinata Technologies, through its Vita Aerospace division, has acquired Air Rescue Systems (ARS), a provider of advanced helicopter response training and mission-specific equipment. The acquisition combines Vita's intelligent lifting systems and manufacturing capabilities with ARS's specialized training programs and equipment to expand MEDEVAC, search-and-rescue, and emergency-response offerings to military and public-safety customers.

The Reynolds and Reynolds Company acquired Xzilon, a maker of vehicle appearance protection products known for ceramic and interior protection systems. Xzilon will continue operating under its current leadership with Kevin Kahmann remaining president; the acquisition expands Reynolds' dealership product and F&I offering capabilities across automotive, RV, marine and powersports markets.

The Riverside Company has acquired Bishops Cuts/Color, a Portland, Oregon–based franchise haircare provider with more than 40 locations across the United States. Riverside intends to grow Bishops' footprint nationally and use the business as a franchising platform to add additional personal care services brands.

SJA Enterprises, a SaaS provider, has acquired TrialLine.com, a cloud-based timeline and trial presentation software for legal professionals. The acquisition expands SJA's SaaS portfolio and will support further product development and team growth to better serve law firms and litigation support customers.

LegitScript has acquired Fluxguard, an AI-powered website change detection and monitoring provider. The acquisition adds Fluxguard's website monitoring capabilities to LegitScript's risk, compliance, and merchant/product certification offering; Fluxguard will remain available as a standalone solution while the teams integrate to build expanded offerings for clients.

Boston-based private equity firm Artemis has acquired SightLine Applications, an Oregon-based developer of on-board image processing electronics and AI/ML-enabled video processing software for ISR and C-UAS missions. SightLine will continue to operate from its Portland and Hood River, Oregon facilities and will leverage Artemis' industrial tech expertise to accelerate growth across defense and commercial unmanned system markets.

Hub International Limited has acquired the assets of Insurance Partners, LLC d/b/a Frinell Risk Advisors, a Lake Oswego, Oregon insurance agency that provides commercial and personal insurance and risk management services. The Frinell team will join Hub Northwest as Frinell Risk Advisors, a Hub International company; terms were not disclosed.

PNW Metal Recycling, a Clackamas, Oregon-based ferrous and non‑ferrous metal recycler, received a minority growth investment from ITOCHU Metals Corporation (a subsidiary of ITOCHU Corporation). The transaction closed on June 30, 2023, with GulfStar Group serving as exclusive financial advisor to PNW to support the company’s growth plan and strategic partnership with IMC.

Highview Capital has made a minority growth investment in B&R Auto, a founder-owned auto recycler and parts distributor headquartered in Oregon with 19 locations across the Western U.S. The Perlenfein family and B&R President Jeff Helget retain significant stakes and Helget will continue as President; Highview will support expansion, operational improvements, and strategic acquisitions.

An affiliate of Lone Star Funds has completed the acquisition of Titan Acquisition Holdings — the parent of Vigor Industrial LLC, MHI Holdings LLC and Continental Maritime of San Diego — from funds managed by The Carlyle Group and Stellex Capital Management. The transaction, first announced in February 2023, closed in mid-June 2023; financial terms were not disclosed. Titan is a bi-coastal leader in ship repair, marine and heavy fabrication serving U.S. government and commercial maritime customers.

Pacific Coast Fruit Company, a leading independent produce distributor in the Pacific Northwest, has acquired Portland-based King Harvest Hummus. The acquisition combines Pacific Coast Fruit's distribution network with King Harvest's food-manufacturing capabilities to expand product offerings and drive growth across retail and foodservice channels; the deal closed April 22, 2023.

MGG Investment Group has made an investment in 42 Shari's Restaurants locations in Oregon, representing roughly half of the chain's 85 restaurants. Terms were not disclosed; Gather Holdings (Shari's parent) said the capital infusion will support recovery from COVID-19 and that MGG brings experience in video lottery gaming operations present at the Oregon locations.

BrightPet Nutrition Group, a PE-backed pet food manufacturer based in Lisbon, Ohio, has acquired Raw Advantage Processing, a family-owned co-manufacturer of freeze-dried and frozen raw pet food and treats based in Salem, Oregon. The deal, completed with backing from A&M Capital Partners, expands BrightPet's West Coast manufacturing footprint and capacity while providing Raw Advantage access to additional production capabilities and capital for growth.

Camping World Holdings, Inc. announced it will acquire Funtime RV, an Oregon-based dealer operating locations in Tualatin, Sandy and Klamath Falls. The deal is expected to close in Q3 2023 and will expand Camping World's Oregon footprint to nine locations, strengthening its market position in the state.

Horsepower Automotive Group, a Huron Capital-backed aftermarket automotive platform, has acquired Flatline Van Company, a Portland-based maker of camper-van roof racks, ladders, bed systems and accessories. The Flatline founders will remain with the business and join Horsepower’s advisory and product teams as the company expands its adventure-van aftermarket product offering as an add-on to the Horsepower platform.

Origami Capital Partners closed a structured growth investment in Pinnacle, an experiential marketing and live events agency, providing follow-on capital to support Pinnacle’s organic expansion and future acquisition strategy. The investment will support Pinnacle’s continued growth as a provider of live brand experiences for top corporate clients.

Interopay Inc., a Portland-based B2B payment automation company, has acquired Rewardworks, a long-time accounts-payable/payment automation software provider. The deal — executed by Interopay (formed by Rewardworks management and investors) — will integrate Rewardworks' operations into Interopay to accelerate product development, expand customer reach, and enhance ERP-integrated payment solutions for mid-market customers.

Careismatic Brands, Inc. has acquired BALA Footwear, a Portland-based nursing footwear company founded by former Nike and Under Armour executives. The deal brings BALA's performance footwear into Careismatic's medical apparel and footwear portfolio to expand product offerings for healthcare professionals.

Senske Services (Senske Lawn & Tree Care Inc.) has acquired Barnes Quality Pest Control of Bend, Oregon as owner Corey Thompson retires. The acquisition expands Senske’s residential and commercial pest control footprint into Oregon and preserves service continuity and employee opportunities for Barnes’ customers and staff.

Environmental Containment Corporation (ECC) has acquired Marks Metal Technology, a family-owned metal fabricator and precast concrete forming business based in Clackamas, Oregon. The acquisition brings Marks Metal Technology into ECC’s platform to expand manufacturing and precast/forming capabilities for the stormwater containment market while retaining the company’s staff and Clackamas operations.

Arcadia has acquired Oregon Shines, a community solar provider, in a transaction that closed on May 22, 2023. The acquisition transfers Oregon Shines' subscription portfolio of nearly 84 MWdc to Arcadia, making Arcadia the largest manager of community solar projects in Oregon; terms were not disclosed.

GELPAC, a North American packaging solutions leader, has acquired Standard Multiwall Bag Mfg. Co., a family-owned manufacturer with production plants in Beaverton, Oregon and Lubbock, Texas. The deal — supported by financing from CDPQ, W Investments and a banking syndicate led by National Bank of Canada and with strategic support from NAMAKOR Holdings — expands GELPAC's production footprint and strengthens its capacity to serve agrifood, pharmaceutical and industrial customers across North America.

MeatEater, Inc. has acquired Dave Smith Decoys, a Lebanon, Oregon-based maker of ultra-realistic hunting decoys and gear. The acquisition brings DSD into MeatEater’s family of outdoor brands and aims to expand DSD’s product reach while maintaining production at its Oregon plant.

Insidesource, a leading Allsteel furniture dealership, has acquired Environments, a Portland-based workplace design and furniture dealer. The acquisition expands Insidesource's presence across the Pacific Northwest and adds Environments' Portland showroom as the company's eleventh location in its global portfolio.