Acquisitions in Pennsylvania in 2021

Vail Resorts, Inc. has closed its acquisition of Seven Springs Mountain Resort, Hidden Valley Resort and Laurel Mountain Ski Area in Pennsylvania from Seven Springs Mountain Resort, Inc. and affiliates for approximately $118 million. The deal adds three regional ski areas (including lodging and conference facilities) to Vail's portfolio and will make the resorts available on select Epic Pass products to expand Vail's presence in the Pittsburgh and surrounding markets.

The Hilb Group announced it has acquired Wharton Surety Consultants, a Wayne, Pennsylvania-based surety and fidelity bond specialist, with the transaction effective December 31, 2021. Agency Principal Eric Follman and his team joined Hilb's Mid-Atlantic regional operations as the acquisition expands Hilb's presence in the national surety marketplace.

AnswerNet, a Willow Grove, Pennsylvania-based BPO and call center services provider, acquired Quality Contact Solutions (QCS) and its subsidiary QCS At Home, with the deal finalized December 31, 2021. The acquisition strengthens AnswerNet’s telemarketing, outbound/inbound and compliance capabilities; AnswerNet retained QCS employees and appointed Chris Grothe to oversee the business.

Serata Capital Partners completed an investment partnership with Page Publishing Consortium in late December 2021 to support accelerated organic growth and an acquisition-driven strategy. The transaction was supported by senior financing from Wintrust Bank and mezzanine/minority equity from Ironwood Capital, positioning Page — a multi-brand self-publishing services group serving over 10,000 authors annually — for expanded scale and add-on activity.

CLX Health acquired SymCheck, an automated mobile health screening platform, along with its parent company Yorn; the deal closed on December 29, 2021. SymCheck founder Richard (Rick) Rasansky joins the CLX Health organization and was named Chief Strategy Officer of SiriusIQ (CLX Health’s parent), and CLX plans to integrate SymCheck into its TrustAssure Global Network to expand screening and compliance capabilities for live events, travel and workplace safety.

Nichols Portland, Inc., a portfolio company of Altus Capital Partners, acquired the assets of Alpha Precision Group, LLC (APG). APG is a diversified metal-forming manufacturer (powder metallurgy, metal injection molding, additive manufacturing and precision valve assemblies) headquartered in St. Marys, Pennsylvania, with five plants across Pennsylvania and Michigan and over 400 employees; financial terms were not disclosed.

Sentinel Capital Partners has acquired TTG Imaging Solutions, a Pittsburgh-based provider of nuclear medicine and molecular imaging services, equipment sales, repair/refurbishment and radiopharmaceuticals. Brookside Capital Partners provided subordinated debt and an equity co-investment to facilitate the transaction; TTG was previously a portfolio company of Chief Capital (Chartwell Investments' Entrepreneur & Founder Capital). The deal is intended to provide capital and support for TTG's continued organic and acquisitive growth across the U.S.

Vesuvius plc has acquired Universal Refractories, Inc., a specialty refractory manufacturer based in Wampum, Pennsylvania, in a transaction valued at $57.1 million on a cash- and debt-free basis. The deal, funded from Vesuvius' internal resources, expands Vesuvius' North American presence among electric arc furnace steel producers and strengthens its Foundry business.

OPW Clean Energy Solutions, a Dover company, has acquired Acme Cryogenics from Graham Partners. Acme Cryogenics, headquartered in Allentown, Pennsylvania, is a manufacturer of cryogenic equipment and provider of field services serving end markets including the hydrogen economy, healthcare, and food & beverage; Graham Partners said the sale follows significant revenue and EBITDA growth and successful value-creation initiatives during its ownership.

Gaia, Inc. acquired Yoga International from the Himalayan Institute, adding roughly 4,000 hours of yoga content to Gaia's streaming library. The acquisition brings Yoga International's global paid subscriber base and deep yoga education content into Gaia's conscious-media platform to support subscriber growth and content expansion.

Eliassen Group, a Reading, Massachusetts-based strategic consulting and talent solutions firm, has acquired Fidato Partners, an accounting & finance, risk management, and IT consulting firm headquartered in the greater Philadelphia area. The acquisition expands Eliassen Group’s professional services capabilities—particularly in risk management, finance transformation, and technical accounting—and brings Fidato’s consulting and recruiting capabilities into Eliassen’s platform.

Sila Services, a home services platform, has acquired Adam Mechanical Heating, Air Conditioning & Plumbing, a residential HVAC and plumbing contractor based in Haverford, Pennsylvania. The add-on expands Sila's home comfort services footprint in the Greater Philadelphia market and strengthens its local service offerings.

48forty Solutions has acquired Allegheny Recycled Products, a Pittsburgh-based pallet recycling operator that runs a 500,000 sq. ft. facility handling about 2 million pallets per year. Terms were not disclosed; the acquisition expands 48forty's pallet recycling and reverse-logistics footprint in the Northeastern United States.

The AES Corporation announced the acquisition of US solar developer Community Energy Solar, LLC, adding the developer's ~10 GW project pipeline and experienced development team to AES's renewables platform. The deal expands AES's US renewables development capability and bolsters its pipeline and workforce as the company pursues further growth in utility-scale solar and storage.

AssuredPartners, Inc. has acquired Medallion Wealth Management, Inc., a Sewickley, Pennsylvania-based wealth management firm led by President Arthur Hazen. The 12-person firm — reporting approximately $3 million in annualized revenues — will join AssuredPartners to expand the broker's presence and capabilities in Pennsylvania.

MasTec, Inc. (NYSE: MTZ) agreed to acquire Henkels & McCoy Group Inc., a leading U.S. utility power transmission and distribution contractor, for total consideration of $600 million (approximately $420 million cash plus ~2 million shares of MasTec common stock). The acquisition, which adds roughly 5,100 employees and $1.5 billion of 2021 revenue, expands MasTec's footprint and capabilities in the electric utility services market to support grid modernization and renewable energy buildout.

GEON Performance Solutions, a portfolio company of SK Capital Partners, has acquired Roscom, Inc., an ISO9001:2015-certified PVC compounding facility in Croydon, Pennsylvania. The acquisition adds Roscom's flexible PVC compounding capabilities and Croydon manufacturing capacity to GEON's platform to better serve customers in the Northeastern United States and parts of Canada.

Marcone, a portfolio company of Genstar Capital, acquired Professional Plumbing Group (PPG) from Dunes Point Capital. The acquisition expands Marcone’s parts and distribution footprint into the plumbing repair and remodel market, adding PPG’s proprietary brands (Wolverine Brass and Speakman), ~20,000 SKUs and ~10,000 customers to Marcone’s platform.

Global Tech Industries Group, Inc. (GTII) executed a member unit purchase agreement to acquire 100% of Classroom Salon Holdings, LLC, the holding vehicle for Classroom Salon, LLC, an education-technology platform developed in partnership with Carnegie Mellon University. In consideration, GTII will issue 10,000,000 shares of its common stock; the acquisition aims to expand GTII's product offerings in educational software and learning analytics.

Trident Solutions, a Sherman, Texas-based portfolio company of River Associates Investments, acquired LEM Products, Inc., a Montgomeryville, Pennsylvania manufacturer of industrial identification products. The deal — an add-on to Trident's safety marking and identification platform — expands Trident's product breadth and manufacturing capabilities across infrastructure, OEM, and government end markets.

Pye-Barker Fire & Safety has acquired Yarnell Security Systems, a Lancaster, Pennsylvania-based commercial and residential security services provider. The deal adds Yarnell's 47 employees and more than 10,000 customers to Pye-Barker's national fire, life-safety and security platform and strengthens its CCTV, access control and alarm monitoring capabilities in central Pennsylvania.

JLL Partners, a middle‑market private equity firm, has acquired LCR Embedded Systems, a Jeffersonville, Pennsylvania designer and manufacturer of rugged enclosures, backplanes and integrated systems for the aerospace and defense market. The sale was completed from LCR’s founder and majority owner, Nissen Isakov, and was announced by advisor Alderman & Company.

White Cap Supply Holdings, LLC has acquired Diamond Tool & Fastener, Inc., a Philadelphia-based supplier of tools, fasteners and equipment rental and service. The acquisition adds Diamond Tool’s Philadelphia and Edgewater Park locations and a Bristol distribution center to White Cap’s Northeast footprint, expanding its service and product offerings for professional contractors in the region.

Ultimus Fund Solutions acquired FD Fund Administration and will merge the FD team into its private fund business unit, Ultimus LeverPoint Private Fund Solutions. The transaction, backed by private equity firm GTCR and closed December 15, 2021, expands Ultimus' private fund administration scale, geographic footprint and capabilities across real estate, credit and infrastructure funds.

American Securities LLC has acquired 100% of FullBloom from The Vistria Group. FullBloom is a provider of K‑12 special education and behavioral health solutions serving hundreds of school districts and tens of thousands of students and educators; the company expanded via five acquisitions under Vistria and grew EBITDA substantially during the hold period.

Patriot Growth Insurance Services announced that The Safegard Group, a Media, Pennsylvania-based risk-management focused insurance agency, has joined the Patriot platform. The partnership expands Patriot's property & casualty and employee benefits capabilities and establishes a Philadelphia-area presence; Safegard's 56 staff and leadership team will remain in place.

DCC Technology, trading as Exertis, has acquired Almo Corporation in what DCC plc described as its largest transaction to date. The acquisition expands Exertis' Pro AV and consumer appliance distribution capabilities in North America, adding Almo's 660 employees, nine distribution centers and more than 2.5 million square feet of warehousing to Exertis' operations.

DFW Capital Partners completed a growth investment in Herspiegel Consulting, a Yardley, Pennsylvania–based provider of commercial strategy and implementation consulting for the pharmaceutical and biotechnology industries. The partnership will support Herspiegel's growth and expansion of its commercial capabilities and reach.

Denver-based William Ohs has acquired Draper DBS, a custom cabinet shop in Bucks County, Pennsylvania. The acquisition combines two luxury cabinetry makers to expand manufacturing capacity, capture operational synergies, and broaden market reach for high-end kitchen and home cabinetry.

Royal Philips has signed an agreement to acquire Vesper Medical Inc., a US-based maker of minimally-invasive peripheral venous stent devices and a portfolio company of Gilde Healthcare. The acquisition will add Vesper's DUO Venous Stent System to Philips' image-guided therapy and peripheral vascular portfolio; the deal is expected to close in Q1 2022 and includes roughly 20 Vesper employees joining Philips.

Quartile has acquired Sidecar, combining their machine-learning-driven ad optimization platforms to form the largest cross-channel e-commerce advertising solution and doubling ad spend under management to about $2 billion. The combined company will serve more than 5,000 brands across 26 countries; Rockbridge Growth Equity remains the lead institutional investor and existing Sidecar shareholders retain a meaningful stake in the post-acquisition entity. Terms were not disclosed.

MidOcean Partners, a New York-based private equity firm, has acquired GHR Healthcare, a Plymouth Meeting, Pennsylvania-based provider of healthcare staffing services, from Platform Partners and other investors. MidOcean plans to support GHR's growth through organic initiatives and strategic acquisitions to deepen service offerings and expand its national footprint; financial terms were not disclosed.

3Phase Elevator has merged with Headrick Elevator, bringing the family-owned Pittsburgh elevator services business into 3Phase's network to bolster its presence in the Pittsburgh market. The Headrick team will remain in place and continue operating under the Headrick Elevator brand; financial terms were not disclosed.

Cresco Labs has completed the acquisition of Pennsylvania clinical registrant Laurel Harvest Labs, adding ~52,000 sq. ft. of indoor cultivation/processing capacity, an operational dispensary in Montgomeryville and a second dispensary under construction in Scranton. The deal expands Cresco’s retail and cultivation footprint in Pennsylvania to strengthen its wholesale market position and support clinical research partnerships.

Chicago-based private equity firm New Harbor Capital completed a growth equity investment in IndeVets, a Philadelphia-based tech-enabled provider of veterinarian staffing services. The financing will support IndeVets' growth and geographic expansion as it scales its proprietary scheduling platform and expands its network of veterinarians and partner hospitals.

CNL Strategic Capital, LLC acquired a majority equity stake and provided concurrent debt financing to Clarion Safety Systems, LLC, partnering with the company's existing management. Clarion, founded in 1990 and headquartered in Milford, Pennsylvania, designs and manufactures standards-based visual safety labels, signs and related safety products for OEMs, facility owners and employers worldwide.

Quest Resource Holding Corporation (NASDAQ: QRHC) has acquired RWS Facility Services from Atar Capital. The transaction brings RWS’s asset-light waste management, commodity recycling and facility services capabilities into Quest’s national platform to expand service offerings and customer reach across retail, QSR and real-estate end markets.

Sia Partners has acquired PPT Consulting, a Philadelphia-based management and IT consulting firm founded in 2003 that specializes in project management, business and process transformation, and organizational change management. The deal expands Sia Partners' US footprint—adding a Philadelphia office and 50+ consultants—and strengthens its capabilities in Healthcare/Life Sciences, Communications, Manufacturing and Chemical sectors.

U.S. Bancorp Asset Management, Inc., a subsidiary of U.S. Bank, has completed the acquisition of PFM Asset Management LLC. PFM will continue to operate as a separate registered investment advisor and more than 250 PFM employees have joined U.S. Bank, bolstering U.S. Bank’s institutional asset management capabilities, particularly in the public-sector market.

Tech24, a national provider of foodservice and commercial HVAC repair backed by HCI Equity Partners, acquired RMS Mechanical Services of Ambridge, Pennsylvania on December 3, 2021. The acquisition is Tech24’s seventh add‑on and expands its presence and customer base in the greater Pittsburgh foodservice repair and maintenance market; financial terms were not disclosed.

Audax Private Equity has acquired Veterinary Practice Partners (VPP) from Pamlico Capital. The transaction transfers ownership to Audax while VPP's management team, led by CEO John McDonough, remains significant owners and will continue to run the business to support continued expansion of its co-ownership veterinary platform.

NETSTOCK has acquired Demand Works to expand its sales and operations planning and inventory optimization capabilities. The deal combines NETSTOCK's global SaaS inventory planning platform with Demand Works' cloud-based S&OP and finite capacity planning technology to broaden product functionality and accelerate geographic expansion into Western Europe, Australia and other regions.

Funds managed by New York-based private equity firm Lee Equity Partners acquired a majority ownership interest in Unlimited Technology, a Chester Springs, Pennsylvania-based security systems integrator. Management, led by John Palumbo (who will become CEO), will retain meaningful equity; former majority shareholder Richard Rockwell is retiring. Financial terms were not disclosed; Lee Equity said it will support Unlimited Technology’s organic and acquisition-driven growth and geographic/service expansion.

J&J Ventures Gaming of Pennsylvania, LLC has acquired substantially all of the assets of Second State Gaming, LLC, a Harrisburg-based video gaming terminal operator majority-owned by Gary Brewer. The acquisition expands J&J's terminal operator footprint into Pennsylvania, combining J&J's reporting and marketing capabilities with Second State's truck-stop customization and route management.

Huron Consulting Group announced on December 2, 2021 that it has acquired Whiteboard Higher Education, a student enrollment advisory firm. The acquisition brings Whiteboard’s recruitment, retention, pricing and financial aid analytics capabilities into Huron’s Education operating segment; terms were not disclosed and the entire Whiteboard team will join Huron.

FreshEdge, a produce and specialty food platform backed by Rotunda Capital Partners, acquired Monteverde's, a fresh produce distributor located near Pittsburgh, Pennsylvania. Monteverde's operates from a 61,500 sq ft facility and will remain locally managed under the Monteverde family while expanding FreshEdge's footprint in western Pennsylvania and the eastern U.S.; terms were not disclosed.

Pine Tree Equity IV, LP recapitalized Summit Health Pharmacy, LLC in December 2021, partnering with the existing management team to support the company's growth. Summit, headquartered in Brookhaven, Pennsylvania and founded in 1995, is a specialty compounding pharmacy focused on rare pediatric metabolic medications; the recapitalization is intended to accelerate geographic expansion and enable complementary add-on acquisitions.

Adare Pharma Solutions, a PE-backed contract development and manufacturing organization (CDMO), has acquired Frontida BioPharm, a vertically integrated CDMO focused on oral formulations. The deal expands Adare’s capabilities—including high-potency compound handling and packaging services—and increases its manufacturing footprint; Adare is backed by Thomas H. Lee Partners and Frazier Healthcare Partners.

Wind River Environmental, backed by Gryphon Investors, has acquired Koberlein Environmental Services, a septic and non-hazardous liquid waste services provider headquartered in Honesdale, Pennsylvania. The deal adds Koberlein’s three locations, more than 20,000 residential, commercial and municipal customers, and roughly 45 employees to Wind River’s platform to expand local service in New York and eastern Pennsylvania.

VORTEQ Coil Finishers' senior leadership partnered with Shadowbriar Capital Partners and private investors to complete a management-led buyout of the company from Peninsula Pacific. Headquartered in Oakmont, Pennsylvania, VORTEQ operates nine continuous coil coating lines across seven locations and will work with Shadowbriar to pursue long-term strategic growth and potential add-on acquisitions.