Acquisitions in Pennsylvania in 2020

Learning Care Group, a portfolio company of private equity firm American Securities LLC, has acquired U-GRO Learning Centres, a 14-school early childhood education operator in Central Pennsylvania. The transaction closed December 31, 2020 and expands Learning Care Group's footprint in Pennsylvania by adding U-GRO's ~1,900-student network to its portfolio of preschool brands.

World Insurance Associates LLC, a nationally ranked insurance brokerage, acquired Bush Insurance Agents & Brokers of Cambridge Springs, Pennsylvania on December 31, 2020. Terms were not disclosed; Bush Insurance owners Gregg Gordon and Dick Perry agreed the deal will allow the agency to operate at greater scale with World’s products and resources.

KPS Capital Partners, through a newly formed affiliate, has completed the acquisition of Libertas Copper, LLC (operating as Hussey Copper) from Zohar III, Ltd. and Ark II CLO 2001-1, Ltd., following Bankruptcy Court approval. KPS said it will leverage Hussey Copper’s manufacturing capabilities and brand to grow the business organically and via strategic acquisitions.

American Bath Group, a portfolio company of Centerbridge Partners, has completed the acquisition of DreamLine (Glass Technology Concepts, LLC) from affiliates of MPE Partners. DreamLine, headquartered in Warminster, Pennsylvania, is a designer and manufacturer of premium glass shower doors, enclosures, and accessories and will operate as a division of American Bath Group as a complementary, add-on acquisition.

Royal Philips has agreed to acquire BioTelemetry, Inc. in a cash tender offer of USD 72.00 per share, implying an enterprise value of approximately USD 2.8 billion. The deal combines Philips' hospital patient-monitoring capabilities with BioTelemetry's remote cardiac diagnostics and monitoring services (which serve over 1 million patients annually and had 2019 sales of about USD 439 million) to expand Philips' patient care management offerings across hospital and home settings.

BayMark Health Services has acquired Echo Treatment Center, an outpatient opioid treatment program in Washington, Pennsylvania, which will operate under BayMark’s MedMark Treatment Centers brand. The clinic provides medication-assisted treatment (methadone), counseling, in-house lab services and coordinated care for pregnant patients as BayMark expands access in the greater Pittsburgh area.

Verisk has acquired Philadelphia-based behavioral data intelligence company Jornaya from growth equity investor Edison Partners. The acquisition expands Verisk’s data and analytics capabilities—particularly in marketing and consumer intent signals—across insurance, financial services and related end markets.

TA Associates has completed a significant growth investment in The Benecon Group, a Lititz, Pennsylvania-based developer and manager of self-funded medical benefit programs. Financing for the transaction was provided by funds managed by the Credit Group of Ares Management and Varagon Capital Partners; financial terms were not disclosed.

Arthur J. Gallagher & Co. acquired Premier Brokerage Services, Inc., a Jenkintown, Pennsylvania-based high-net-worth focused life insurance wholesale agency. The acquisition expands Gallagher’s life brokerage capabilities in the high-end agent and advisory market; Premier will continue to operate from its Jenkintown and Miami offices under Gallagher leadership.

The Jordan Company L.P. (through an affiliate) closed its acquisition of Potters Industries, LLC, the Performance Materials segment of PQ Group Holdings, Inc. Potters is a global manufacturer of engineered glass materials (notably glass microspheres and highway-safety beads) with a network of 28 production facilities; TJC said it will support Potters' growth through organic initiatives and selective acquisitions.

TC Studios, LLC has acquired the shadowlight group, ltd., combining the two commercial photography and video studios into a larger creative studio with roughly 65 creative professionals and 135,000 sq. ft. of space (including a 10,000 sq. ft. sound stage). The combined company will operate from Shadowlight's Leola, Pennsylvania studio with Ted Clements as CEO while Shadowlight co-owners Phil and Kristen Hiestand will support the transition as they step toward retirement.

Kainos Capital, with a preferred and common equity investment from The Private Capital Group of MSD Partners, has acquired Tivity Health’s Nutrition Business — including **Nutrisystem** and **South Beach Diet** — for $575 million in cash. Tivity Health divested the business to focus on its core healthcare operations while Kainos plans to reestablish Nutrisystem as an independent, growth-oriented consumer nutrition company.

Next Glass, the parent company of Untappd and BeerAdvocate, has acquired Hop Culture, a Pittsburgh-based digital magazine and events company serving craft beer enthusiasts. The acquisition brings Hop Culture's content, festivals, and merchandise into Next Glass's portfolio to enhance its audience engagement and event capabilities within the beverage alcohol sector.

Guardian Capital Partners has invested in Havis, Inc., a Warminster, Pennsylvania-based designer and manufacturer of ruggedized mobile workforce solutions, partnering with the company's executive management team and principal family owners. The investment will fund operational and strategic initiatives, new product development and potential add-on acquisitions to accelerate growth.

TRC Companies Inc. has acquired Shoener Environmental, a Pennsylvania-based environmental consulting firm that supports permitting and development for renewable energy and greenfield projects. The deal brings roughly 20 environmental and engineering experts into TRC and bolsters TRC's renewable energy, ecological, and permitting capabilities across multiple U.S. markets.

Charterhouse Capital Partners–backed Laboratoires SERB has agreed to acquire BTG Specialty Pharmaceuticals from Boston Scientific. The deal expands SERB’s portfolio of emergency and critical‑care medicines (including CroFab, DigiFab and Voraxaze), strengthening its manufacturing capabilities and global commercial reach.

FMG Suite, a San Diego–based SaaS marketing platform for financial advisors and insurance agents, has acquired Twenty Over Ten, a State College, Pennsylvania–based SaaS digital marketing and website platform for financial professionals. The deal expands FMG Suite’s product capabilities and customer base while retaining Twenty Over Ten’s design, development, and marketing team to integrate best-of-breed lead-generation and marketing solutions for advisors.

Ansys completed the acquisition of Analytical Graphics, Inc. (AGI) for $700 million. The deal brings AGI's mission-driven simulation, modeling and analysis software into Ansys' engineering-simulation portfolio to expand capabilities and accelerate adoption in aerospace, defense and adjacent commercial markets.

Private equity firm Kohlberg & Company acquired a majority stake in PCI Pharma Services, with Mubadala Investment Company joining as a significant investor and Partners Group retaining a minority stake. The deal (signed August 24, 2020 and closed December 1, 2020) positions PCI to expand capabilities—such as sterile fill/finish and high-potency manufacturing—and further geographic reach while continuing to serve pharmaceutical and biopharmaceutical customers from its Philadelphia headquarters.

CarepathRx will acquire the management services organization that operates UPMC's Chartwell specialty pharmacy and home infusion business, while UPMC will take a strategic equity stake in CarepathRx. The transaction (reported at approximately $400 million) expands CarepathRx's specialty pharmacy and home-infusion capabilities and creates a long-term partnership between the companies.

Black Diamond Group, through its U.S. subsidiary BOXX Modular, acquired Vanguard Modular Building Systems on November 30, 2020. The deal expands BOXX Modular's footprint across the eastern United States and strengthens Black Diamond's Modular Space Solutions segment by adding Vanguard's lease, sales and financing capabilities.

ALL4, a portfolio company of JMH Capital Partners, has acquired Environmental Strategy Consultants, Inc. (ESC), a Philadelphia-based environmental consulting firm founded in 1986. The acquisition expands ALL4's Philadelphia-region capabilities in air permitting, monitoring and EHS compliance and strengthens its regional environmental program management offering.

Donuts Inc. has entered into an agreement to acquire Afilias, Inc.'s registry business for an undisclosed sum; the deal (which excludes Afilias' mobile software and registrar businesses) was expected to close in Q4 2020 pending regulatory approvals. The acquisition combines Donuts' and Afilias' TLD registry platforms, DNS capabilities and cybersecurity expertise to strengthen digital identity, security and registry services for registrar partners and registrants.

SyBridge Technologies, a platform created and backed by Crestview Partners, has completed the acquisition of X-Cell Tool and Mold, Inc., a Fairview, Pennsylvania-based manufacturer of close-tolerance and multi-cavity plastic injection molds. The deal expands SyBridge's tooling capabilities into complex medical tooling and supplements its mobility market presence through its Concours Technologies subsidiary.

New State Capital Partners has made a significant equity investment in Klein Hersh, a Horsham, Pennsylvania–based executive search firm focused on life sciences and healthcare. The Klein Hersh senior leadership team (Jason Hersh, Jesse Klein, and Josh Albert) will remain in place and retain substantial ownership as New State provides capital and operational support to accelerate growth.

Sverica Capital Management, a Boston-based private equity firm, has made a strategic growth investment in DeFY Security, a cybersecurity solutions provider based near Pittsburgh, Pennsylvania. The investment will support DeFY's continued growth and national expansion while DeFY's founder and CEO Justin Domachowski remains in place and Sverica partners join the company's board.

Amulet Capital Partners-backed US Digestive Health has partnered with West Chester GI Associates, adding the West Chester, PA gastroenterology practice to USDH's growing network. The deal expands US Digestive Health's regional footprint in Pennsylvania and provides WCGI access to USDH's administrative, operational and technology infrastructure.

Inverness Graham-backed Syntrio has acquired KnowledgeStart, a King of Prussia, Pennsylvania-based provider of Diversity & Inclusion eLearning content and facilitation services. The add-on expands Syntrio's D&I course library and training capabilities as part of Inverness Graham's strategy to grow Syntrio's governance, risk and compliance (GRC) learning platform.

Therabody (formerly Theragun) has acquired RP Sports, the maker of the clinical pneumatic compression product line RecoveryPump, and will integrate the technology into its recovery and whole-body wellness portfolio. The acquisition brings FDA‑approved medical-grade compression devices to Therabody's consumer channel and supports the launch of the Therabody Recovery Lounge to offer integrated recovery solutions to teams, facilities, and consumers.

Welsh, Carson, Anderson & Stowe (WCAS) has agreed to acquire a majority stake in TrueCommerce, a global provider of trading partner connectivity and integration solutions, from Accel-KKR. WCAS will partner with TrueCommerce management to drive organic growth and pursue a focused acquisition strategy to expand capabilities and enter new customer segments and geographies; Accel-KKR will retain a minority stake post-close.

Nexteligent Holdings, Inc. (OTC:NXGT), a healthcare industry aggregator, has acquired Professional Revenue Management Services (PRMS), a national provider of revenue cycle management, medical coding, electronic claims processing and accounts receivable management. The acquisition will bolster Nexteligent's NexteliFin division and expand its revenue cycle management capabilities across physician practices, ambulatory surgical centers and other healthcare providers.

TRC Companies, a Windsor, Connecticut–based engineering and environmental consulting firm, has acquired 1Source Safety and Health, a specialized industrial hygiene and safety management consultancy based in Exton, Pennsylvania. The acquisition brings ~25 certified industrial hygienists and safety professionals into TRC, expanding its building sciences, industrial hygiene and environmental health & safety capabilities and strengthening its presence in Pennsylvania.

Alliance Holdings, the environmental services platform backed by Align Capital Partners, has acquired Blue Mountain Environmental Management Corporation. The deal expands Alliance’s air emissions (stack) testing and LDAR capabilities in the Northeastern and Midwestern United States as part of its ongoing add-on buildout to create a national emissions testing platform.

Pharmaron Beijing Co., Limited acquired 100% of Absorption Systems for up to US$137.5 million in cash. The purchase brings Absorption Systems’ non-clinical DMPK/ADME and bioanalysis capabilities and U.S. lab footprint (Philadelphia, San Diego and Boston) into Pharmaron’s integrated drug R&D services platform to expand capabilities and U.S. presence.

Frontenac Company has acquired Newterra Group Ltd., a global designer, engineer, manufacturer and servicer of modular water and wastewater treatment systems, from existing shareholders including XPV Water Partners and Angeleno Group. Financial terms were not disclosed; Newterra's CEO Tom Vossman and the executive team will remain in place and Jim McGivern will join the board as Frontenac supports the company's continued organic and inorganic growth.

Insight Service Group (ISG) has acquired Social Detection LLC to expand and complement ISG's Social Media Technology platform. The deal combines ISG's national investigation, medical and record management capabilities with Social Detection's social media analytics and fraud-detection technology to enhance services for insurance and legal clients; terms were not disclosed.

Investment funds managed by Morgan Stanley Capital Partners completed an investment in US HealthConnect, partnering with founder-led management while Frank Russomano remains President and CEO. US HealthConnect is a digital medical education and engagement-data platform serving pharmaceutical, biotech, diagnostic, and device companies; the investment is intended to support platform and capability expansion.

Teleperformance has acquired Health Advocate, a US-based consumer health management and digital solutions provider, from Intrado Corporation (a portfolio company of funds managed by affiliates of Apollo Global Management). The deal values Health Advocate at an enterprise value of US$690 million and strengthens Teleperformance’s Specialized Services in the US healthcare market by adding subscription-based navigation, advocacy and wellbeing solutions.

Compass Partners Capital LLC acquired PRL, Inc., a family-owned manufacturer of ferrous and nonferrous alloy castings and precision machining, and will combine PRL with its portfolio company Micro Precision LLC to create an enhanced platform serving the U.S. Navy, nuclear power, and railroad markets. Vice Admiral John Morgan (USN, ret.) will lead the combined company as CEO; sellers included members of the Herschkowitz family.

The Vortex Companies has acquired Parson Environmental Products, Inc., a national provider of sanitary sewer rehabilitation and stormwater retention products founded in 1985. Parson owner and president Craig Gaul will join Vortex as Senior Product Manager to support R&D and integration of Parson's product portfolio into Vortex's expanding trenchless products division.

VfD Technologies, a Bethlehem, Pennsylvania-based precision manufacturer, has acquired Isimac Machine Company of Blandon, Pennsylvania to expand its ultra-high precision machining capabilities for medical devices, surgical instruments, aerospace and telecommunications markets. Tecum Capital Partners invested alongside VfD's founding management team to support the acquisition and provide subordinated/mezzanine capital for the transaction.

Lenox Corporation, the Bristol, Pennsylvania-based designer and marketer of dinnerware, flatware, glassware and giftware (including the Lenox, Dansk and Reed & Barton brands), was acquired by an affiliate of Centre Lane Partners. Centre Lane said it will partner with Lenox's management to support the company's transformation and growth, building on investments in branding and e-commerce.

Bansk Group has entered into a definitive agreement to acquire Woodstream, a Lancaster, Pennsylvania-based manufacturer and marketer of pest and animal control and lawn & garden products, from Vestar Capital Partners. The deal is expected to close in Q4 2020, with Woodstream’s CEO Miguel Nistal and the management team remaining post-close; terms were not disclosed and Ares Management provided committed financing to Bansk.

NewSpring Mezzanine, the mezzanine strategy of NewSpring, has made a growth-stage investment in Veritas Medical Solutions, a Harleysville, Pennsylvania-headquartered designer and manufacturer of pre-engineered radiation-shielded treatment facilities. The capital will support Veritas’ product development and expansion to capture growing demand from radiotherapy centers, medical imaging providers and industrial inspection customers.

CID Capital portfolio company Extra Mile Brands has acquired the assets of Mustangs Unlimited, a Mustang parts distributor founded in 1976 by Chris Hoverman. Mustangs Unlimited's operations have been relocated to Reedsville, Pennsylvania, and Extra Mile Brands said it will continue the company's product quality and service while integrating the business into its aftermarket parts platform.

Seegrid Corporation acquired Philadelphia-based Box Robotics to integrate the startup's 3D LiDAR, high-definition mapping, and deep learning perception capabilities into Seegrid's vision-guided vehicles. The deal aims to accelerate Seegrid's perception engineering and advance situational awareness for its autonomous material handling vehicles, improving productivity and safety for manufacturing, warehousing, and e-commerce customers.

Susquehanna Private Capital (SPC) has acquired Brandywine Coach Works, a multi-site OEM-certified collision repair operator headquartered in Chadds Ford, Pennsylvania, and established Quality Collision Group (QCG) as a holding platform for further roll-up activity. Brandywine operates four Pennsylvania locations with approximately 90 employees; SPC intends to expand QCG through add-on acquisitions of OEM-certified repair shops nationwide.

Liaison International acquired TargetX to expand its higher-education technology suite and complete a full student lifecycle solution by combining Liaison’s application, enrollment marketing and CAS capabilities with TargetX’s Salesforce-based CRM and retention tools. The combined offering will serve nearly 1,500 campuses and broaden Liaison’s reach across undergraduate, graduate and community college markets. Financial terms were not disclosed.

Featheringill Capital acquired a majority interest in InvestEdge, Inc., a provider of compliance, portfolio management, and UMA software for wealth managers. The investment provides InvestEdge with capital to strengthen its financial position and accelerate product development and customer support, with senior management supporting and participating in the transaction.

Spectrum Automotive, a portfolio company of Cornell Capital, has acquired C.A.R.S. Protection Plus (CARS) from Summit Park. CARS, headquartered in Murrysville, Pennsylvania, is a provider of vehicle service contracts (VSCs) to independent and franchise dealerships across the United States; terms were not disclosed.