Acquisitions in Pennsylvania in 2019

Sigma Electric Manufacturing Corp., a portfolio company of Argand Partners, has acquired Tooling Dynamics, a York, Pennsylvania-based manufacturer of high-volume precision metal stampings and Swiss screw machining. The acquisition expands Sigma's precision metal capabilities and North American manufacturing footprint, bringing Tooling Dynamics' thin-gauge, tight-tolerance expertise into Sigma's global offering.

IFS has completed the acquisition of 100% of the shares of Astea International, a global field service management software provider headquartered in Horsham, Pennsylvania. The deal expands IFS's field service management capabilities and global footprint; Astea founder Zack Bergreen will serve as Senior Advisor while Marne Martin (IFS) will lead the combined service management business.

The Kleinfelder Group, a Wind Point Partners–backed engineering and environmental services firm, acquired the geotechnical, environmental and construction materials testing (CoMET) division of Advantage Engineers, LLC. The asset purchase expands Kleinfelder's capabilities (notably materials testing) and adds office locations across the Mid‑Atlantic (Pennsylvania, New Jersey and Maryland).

Suvoda LLC, a Conshohocken-based SaaS provider of clinical trial software, received a $40 million minority equity investment from Philadelphia-based private equity firm LLR Partners. The capital will support Suvoda's continued growth and expansion of its product offerings; LLR partner Howard Ross joined Suvoda's board.

LLR Partners provided a $30 million growth capital investment in Relay Network to accelerate development of its personalized mobile customer engagement platform and expand growth across healthcare, financial services and home services. Relay Network will use the proceeds to advance its product innovation and scale its enterprise customer base.

FPX, the B2B Selling Cloud, has acquired Intelliquip, a specialist CPQ provider for the fluid handling equipment industry, adding more than 70 customers and domain expertise. The deal, supported by FPX majority investor HGGC, expands FPX's purpose-built manufacturing selling solutions and integrates Intelliquip's team into FPX's product and go-to-market.

An affiliate of White Oak Global Advisors, ACG Holdco, LLC, acquired all equity interests in Atlantic Carbon Group Plc through a UK Administration proceeding (with an ancillary Chapter 15 in Delaware). The credit-bid transaction—advised by SSG Capital Advisors and closed in December 2019—preserved operations at the Hazleton, Pennsylvania anthracite mining operations and saved over 150 jobs.

King Tester Corporation has acquired Cianflone Scientific Group (which includes Cianflone Scientific and Tensitron) from Main Line Equity Partners. The transaction combines test-and-measurement manufacturers to broaden product offerings and strengthen customer support across end markets such as automotive, steel, and mining.

Kartesia, an independent European private investor, acquired Richardson — a Philadelphia-based provider of tech-enabled enterprise sales training — from ClearLight Partners and will merge it with Kartesia’s existing portfolio company, Sales Performance International (SPI). The combination creates a global sales training leader with a comprehensive suite of classroom and digital learning, CRM-enabled execution tools, and measurement capabilities to serve large enterprise clients.

HomeServe PLC agreed to acquire a majority stake in Conshohocken-based eLocal USA LLC, a pay-for-performance advertising and lead-generation platform, to form the foundation of its Home Expert business in the United States. eLocal—backed previously by LLR Partners and employing roughly 130 people—will remain led by founders Andrew and Bruce Aronow and will operate separately from HomeServe’s Membership and HVAC businesses.

NexPhase Capital has acquired Surgent Professional Education, a provider of exam preparation and continuing professional education (CPE) for accounting, finance and healthcare professionals. The transaction, sold by Spire Capital Partners, will support Surgent's platform expansion through investments in product, technology, sales and marketing and potential add-on acquisitions.

Dominus Capital has acquired Surface Preparation Technologies (SPT), the U.S. market leader in rumble strip installation and roadway safety services, from Branford Castle Partners. Branford Castle is exiting the investment after growing SPT's geographic reach and completing a strategic add-on; Dominus plans to leverage SPT's fleet and capabilities to drive further organic growth and pursue additional acquisitions.

US Foot & Ankle Specialists (USFAS), a portfolio company of NMS Capital, has acquired Harrisburg Foot & Ankle Center, a three-location podiatry practice based in Harrisburg, Pennsylvania. The acquisition expands USFAS's footprint in Pennsylvania and will keep Dr. Allan Grossman in place while integrating HFA into USFAS's administrative and clinical support infrastructure.

Molecular Products Group, a portfolio company of Arlington Capital Partners, has acquired the O.C. Lugo Company, a Connellsville, Pennsylvania manufacturer of sodium chlorate–based chemical oxygen generators and a prime contractor to the U.S. Navy. The acquisition adds a second U.S. manufacturing site for chemical oxygen generation systems, expanding Molecular Products' product offerings and strengthening its position in the defense market.

Declaration Partners, the investment firm backed by David M. Rubenstein’s family office, has made a minority equity investment in Peaceable Street Capital to support the specialty finance firm’s growth strategy. The investment joins existing backers Orangewood Partners and SunBridge Capital and will help Peaceable Street expand its client relationships and scale its preferred equity real estate financing platform.

Parthenon Capital has completed a growth investment in MRO Corporation, acquiring a meaningful ownership stake and providing capital to support accelerated growth. MRO, a KLAS-rated leader in release of information (ROI) and PHI disclosure management based in Norristown, Pennsylvania, will use the funding to expand its capabilities and service offerings for healthcare providers.

Astorg will invest in eResearchTechnology, Inc. (ERT), joining existing owners Nordic Capital, Novo Holdings A/S and the ERT management team in a broadened ownership group. The investors will support continued development of ERT's clinical trial technology platform, expand operational capabilities, and pursue selective add-on acquisitions to drive future growth; financial terms were not disclosed.

AMP Capital agreed to acquire Expedient, a Pittsburgh-based data center and enterprise cloud (IaaS) provider, from Landmark Media Enterprises to fund continued growth and geographic expansion. The deal will provide Expedient with additional capital and flexible financing to accelerate expansion of its Enterprise Cloud and managed data center services while maintaining the current management team and operations.

NMS Capital has recapitalized JAFLO, Inc., taking a significant equity stake and partnering with management to establish JAFLO as the firm’s initial vegetation management platform. JAFLO — a Allentown, Pennsylvania–based vegetation management services provider with over 550 employees serving utilities and transportation customers in the Northeast and Midwest — will continue to be led by President Kelly Clapper while founder John (Jay) P. Florio transitions to the board.

Renovus Capital Partners, a Philadelphia-area private equity firm, has provided senior debt financing and made an investment in The NCHERM Group, LLC (TNG) to support the company’s expansion of services and build out its management team. The financing will enable TNG — a provider of campus risk management, Title IX compliance, and behavioral intervention training for K‑12 and higher education institutions — to scale its offerings and better serve existing clients nationwide.

Broadridge Financial Solutions has agreed to acquire Fi360, a provider of fiduciary-focused software, data and analytics for financial advisors and intermediaries. The acquisition expands Broadridge's wealth and retirement offerings by adding fiduciary and Reg BI capabilities, as well as Fi360's accreditation and training programs.

DFW Capital Partners, in partnership with Chief Capital (Chartwell Investments Entrepreneur & Founder Capital), completed a growth investment in Regulatory and Quality Solutions (R&Q), a regulatory and product quality consulting firm serving medical device, IVD and combination product manufacturers. The investment will support R&Q's continued expansion and the firms have added DFW operating partner Kurt Brykman to R&Q's board to help accelerate growth and capability development.

Warburg Pincus, a global private equity firm, acquired Petplan, a leading North American pet health insurance provider headquartered in Newtown Square, Pennsylvania. The acquisition will provide Petplan with capital and resources to accelerate product innovation, customer experience improvements, and growth across the U.S. and Canada.

Affiliates of OMERS Private Equity have acquired CVP Holdco, Inc., d/b/a Community Veterinary Partners, from Cortec Group Fund V. Terms were not disclosed. CVP, headquartered in Philadelphia, operates a network of 64 veterinary hospitals across multiple U.S. states and will continue growth under OMERS ownership.

LRW Group, a Tailwind Capital portfolio company, has acquired Karma Agency, a Philadelphia-based strategic communications and brand management firm. The deal is LRW Group’s eighth add-on since Tailwind’s 2015 investment and is intended to expand LRW’s capabilities in PR, brand strategy and digital communications.

V&A Capital has partnered with SinterMet LLC's management team to acquire SinterMet, a Kittanning, Pennsylvania–based manufacturer of tungsten carbide and powder metallurgy tool steel rolls for steel rod and bar mills. V&A said it will support growth by expanding product offerings, entering new end-markets and pursuing complementary add-on acquisitions, with financing provided by S&T Bank.

LINQ, a Wilmington, North Carolina–based K‑12 administrative software provider, has acquired Registration Gateway, the online registration suite from Pennsylvania‑based SRC Solutions, Inc. The acquisition integrates Registration Gateway's student registration and records management capabilities into LINQ's broader K‑12 administrative platform to expand product functionality for school districts nationwide.

Golden Gate Capital has acquired Invo Holdings (Invo Healthcare), a national provider of autism and childhood behavioral health services. Invo will remain led by CEO Anthony Manley while The Wicks Group sold its stake and The Jordan Company and management retain minority ownership; financial terms were not disclosed.

Arthur J. Gallagher & Co. has acquired Pittsburgh-based Allied Insurance Brokers, including its subsidiary Ascinsure Specialty Risk. The acquisition adds niche crane, scaffold and equipment-dealer insurance expertise and a program underwriting capability to Gallagher’s construction practice and U.S. wholesale operations.

TEAM Services Group, a portfolio company of Alpine Investors, has completed an acquisition of AmeriBest Home Care from Boyne Capital. AmeriBest, a Philadelphia-based home care provider serving Medicaid and state-sponsored programs, will operate within TEAM's Public Choices division to expand TEAM's home- and community-based services footprint in Pennsylvania.

New York-based private equity firm BRS & Co. and Greenwich, Connecticut-based Rosser Capital Partners acquired 2nd Ave LLC and its affiliates, a contemporary thrift store operator with 10 locations across the Mid‑Atlantic and Northeast. The business operates under the 2nd Ave Value Store and Village Thrift Store brands and includes affiliate GreenDrop, a national licensed charitable fundraiser; Golub Capital provided financing and Cascadia Capital served as financial advisor.

Tenex Capital Management has acquired Wolf Home Products from Quad-C Management. Wolf, headquartered in York, Pennsylvania, is a long-established provider and distributor of branded kitchen and bath cabinetry, vanities, accent tiles, outdoor living and specialty building products serving dealers and builders across North America. Financial terms were not disclosed; Fidus Partners served as financial advisor to Wolf.

Ascensus Specialties LLC, a Wind Point Partners–backed chemical producer, has signed a definitive agreement to acquire Callery, LLC, the global leader in boranes and specialty alcoholates. The add-on acquisition will combine complementary reagent chemistry capabilities to create a broader global reagents platform serving pharmaceutical, life sciences and specialty industrial end markets; terms were not disclosed.

Great Hill Partners completed a recapitalization of Pareto Health, a Philadelphia-based employee benefit group captive manager, to support accelerated geographic expansion, sales and marketing growth, and enhanced cost-containment capabilities. Financial terms were not disclosed; Great Hill partners Mark Taber and Rafael Cofiño joined Pareto Health's board as part of the transaction.

CPS Performance Materials, a portfolio company of Arsenal Capital Partners, has acquired GEO Specialty Chemicals. GEO is a specialty chemicals manufacturer serving coatings, adhesives, water treatment, medical and construction markets with 19 production sites in the U.S. and Europe; terms were not disclosed.

Kerridge Commercial Systems (KCS) agreed to acquire MAM Software Group, Inc. in an all-cash transaction valued at approximately $154.2 million, with MAM stockholders receiving $12.12 per share. The deal, announced September 3, 2019 and completed October 21, 2019, expands KCS's presence in the U.S. and broadens its ERP and aftermarket software capabilities for the automotive parts, tire and distribution industries.

GPRS, a portfolio company of CIVC Partners, has acquired the utility locating business of Master Locators, Inc., expanding GPRS' presence in the Northeastern United States. The deal brings Master Locators' regional team and leadership (including COO Kyle Sareyka joining GPRS as Northeast Regional Director) into GPRS to add scale across Pennsylvania, New Jersey, Maryland and Delaware.

Arcline Investment Management, a growth-oriented private equity firm, made a strategic growth investment in Actera Ingredients to establish a bio-actives personal care platform. The capital will support Actera’s expansion of its actives portfolio, capabilities and team to serve personal care and beauty brand customers.

American City Business Journals (ACBJ) acquired a majority ownership stake in BizEquity, a Philadelphia-based provider of cloud-based business valuation software, and will make a significant capital investment to accelerate the company's growth. BizEquity’s SaaS valuation platform is used by hundreds of financial institutions and thousands of advisors; financial terms were not disclosed and Raymond James advised BizEquity on the transaction.

Roper Technologies has agreed to acquire iPipeline, a provider of cloud-based software solutions for the life insurance and financial services industry. The transaction, announced August 8, 2019, will transfer iPipeline from private equity owner Thoma Bravo to Roper; the deal is expected to close in Q3 2019 subject to regulatory approval.

ABBYY has completed the acquisition of TimelinePI, a Philadelphia-based process intelligence and process mining platform. The deal adds TimelinePI's process analytics capabilities to ABBYY's Digital IQ portfolio to strengthen the company's process intelligence and digital transformation offerings; terms were not disclosed.

Vector Solutions, a Tampa-based provider of industry-focused eLearning and performance support software, has acquired IndustrySafe, a Philadelphia-headquartered EHS (environment, health and safety) management software provider. The deal adds IndustrySafe’s configurable EHS suite — including incident management, hazard management and mobile inspections — to Vector’s Commercial business unit to expand its safety, compliance and workforce performance capabilities.

3i Group plc has acquired Regional Rail, LLC from Levine Leichtman Capital Partners. Regional Rail, a Kennett Square, Pennsylvania-based operator of short-line railroads and rail-related services (including Diamondback Signal), will be supported by 3i to pursue further growth and network expansion across its end markets such as agriculture, lumber and energy.

ARCH Global Precision, a platform company backed by The Jordan Company, has acquired Siem Tool Company in Latrobe, Pennsylvania. The acquisition expands ARCH’s custom cutting tool capabilities, adds an in-house coating center, and brings Siem’s proprietary carbide edge-prep expertise into ARCH’s Cutting Tools division.

Advanced Pavement Group Corp., a Dubin Clark portfolio company, has acquired Dan Malloy Paving Inc., a Downingtown, Pennsylvania paving contractor. The acquisition expands Advanced Pavement Group's footprint across the Northeast and Mid‑Atlantic as an add‑on to its regional branch network.

Aterian Investment Partners (through an affiliate) completed a carve-out acquisition of Hain Pure Protein from The Hain Celestial Group. The acquisition includes the Empire Kosher, Kosher Valley and FreeBird poultry brands (operations in Mifflintown and Fredericksburg, Pennsylvania); Aterian said it will invest in new products, geographic expansion and production capabilities to drive growth.

Gladstone Investment Corporation partnered with Slate Capital Group and members of Horizon's executive management to acquire Horizon Facilities Services, a provider of outsourced labor solutions and commercial janitorial services headquartered in Allentown, Pennsylvania. Gladstone provided equity and senior secured debt to complete the transaction; the partnership will support Horizon's next phase of growth in the outsourced labor and facilities services market.

Etac, a wholly-owned subsidiary of Swedish investor Nordstjernan, has acquired 70% of HoverTech International, a US leader in air-assisted patient handling systems based in Allentown, Pennsylvania. The majority investment strengthens Etac's position in patient handling/medtech, creates a platform for accelerated growth and cross‑selling in the US and other export markets, and brings HoverTech access to Etac's global sales and R&D resources.

Vision Innovation Partners (formerly Chesapeake Eye Care), a Centre Partners‑backed ophthalmology platform, acquired a majority interest in Eye Care Specialists (ECS), a nine‑location ophthalmology practice group in northeastern Pennsylvania that includes a surgery center and Revive MedSpa. The deal expands Vision Innovation Partners' presence in Pennsylvania as part of its ongoing roll‑up strategy in the Mid‑Atlantic.

AUA Private Equity Partners has acquired the assets of TruFood Mfg., Inc. (AOG, LLC d/b/a TruFood Manufacturing), a Pittsburgh-based contract manufacturer of nutrition and snack bars. AUA said it will provide capital, operational support and new executive leadership to expand TruFood's product development, R&D and customer service capabilities as part of its food manufacturing portfolio.