Acquisitions in Pennsylvania in 2023

Integrated Foot and Ankle Specialists (IFAS) acquired Quarryville Family Foot Care in Lancaster County, Pennsylvania, with the transaction closing on December 29, 2023. IFAS — a PE-backed joint venture between Avonwood Capital Partners and Mereo Capital Partners — completed its fifth add-on of 2023, bringing the platform to 16 locations and expanding its regional podiatry network.

Opta Group, a portfolio company of Speyside Equity Advisers, acquired Anker Industries effective December 20, 2023. The add-on expands Opta's specialty metallurgical additives, aluminum recycling and clean-steel product offerings and builds on Opta's recent recapitalization to broaden capabilities across metallurgical, glass and concrete end markets.

Escajeda Masonry & Concrete, part of Escajeda Holdings, has acquired New Castle, Pennsylvania-based Alex Restoration & Masonry Repairs. The acquisition expands Escajeda's footprint in the tri-state area, adds historic restoration and preservation expertise, and will keep Alex Restoration operating under its name from its New Castle and Erie offices.

An affiliate of Cerberus Capital Management has completed the acquisition of Spring EQ, a U.S. home equity lender. Spring EQ will join Cerberus' Residential Opportunities platform and continue to be led by founder and CEO Jerry Schiano, with Cerberus supporting technology investment, commercial growth, and operational initiatives.

Chobani, LLC has acquired La Colombe for $900 million, financed with a $550 million term loan, cash on hand, and the exchange of Keurig Dr Pepper's minority stake into Chobani equity. The acquisition brings La Colombe's RTD coffee, roasting capabilities and café footprint into Chobani's portfolio to accelerate entry into the ready-to-drink coffee category and drive complementary growth and synergies.

Carnegie (Carnegie Dartlet LLC), a New Heritage Capital–backed higher education enrollment marketing firm, has acquired Fire Engine RED's Student Search service and team. The acquisition expands Carnegie’s Student Search capabilities—enabling service for both Slate and non-Slate CRM clients—and brings additional talent and strategic enrollment search capabilities into Carnegie’s platform as an add-on to its existing services.

Fremont Private Holdings (the Bechtel family office's private investment arm) and Hunter Truck CEO Jeff Hunter have acquired Hunter Truck from various Hunter family members. The transaction keeps Jeff Hunter as CEO and positions the business for organic growth and add-on acquisitions across its 19-location commercial truck dealership network in Pennsylvania, New York, West Virginia, and New Jersey.

Lynx Software Technologies, an OceanSound Partners portfolio company, has acquired Timesys Corporation, a provider of development tools, cybersecurity solutions, and engineering services for open-source embedded and edge software. The deal expands Lynx's Mission Critical Edge capabilities by adding Timesys' Linux expertise, SCA/SBOM tooling, and managed services to the LYNX MOSA.ic platform.

Elixirr, the London-based challenger consultancy, has acquired U.S. management consultancy Insigniam to expand its capabilities and U.S. footprint. The deal brings Insigniam's team and expertise in organizational breakthroughs, innovation and transformation into Elixirr as the firm pursues accelerated growth and broader service offerings in the U.S. and European markets.

REDYREF Interactive Kiosks has acquired Livewire Digital to combine REDYREF's kiosk design and manufacturing with Livewire's interactive kiosk software and services. The acquisition expands REDYREF's end-to-end capability across industries such as retail, hospitality, healthcare, entertainment and transportation, and aims to accelerate development of next-generation self-service solutions.

Komar Industries, a Groveport, Ohio-based designer and manufacturer of industrial waste and recycling processing systems, has acquired Winter Equipment Corporation, a distributor of waste handling and recycling equipment based in Columbia, Pennsylvania. The acquisition brings Winter’s sales, installation, service and rental capabilities into Komar’s channel footprint across the Eastern United States and was completed by owners Mark and Tammy O'Neal.

Jonathan Sprouts, a multi-generational grower of organic green sprouts, acquired Pennsylvania-based The Sproutman effective December 1, 2023. The acquisition preserves supply continuity as founder Murray Tizer retires and expands Jonathan Sprouts' availability across the Mid-Atlantic and Midwest into the broader Northeast U.S.

World Insurance Associates LLC (World), a national insurance brokerage headquartered in Iselin, New Jersey, acquired the business of Exchange Underwriters, Inc. of Washington, Pennsylvania on December 1, 2023. The acquisition expands World’s local footprint and product offering in the Pittsburgh region; MarshBerry advised World and Dowling Hales advised Exchange Underwriters.

Ingenovis Health, a technology-enabled healthcare workforce and physician services platform backed by Cornell Capital and Trilantic North America, has acquired Corazon, Inc., a Pittsburgh-based provider of program development, consulting and accreditation services for cardiovascular, neuroscience, orthopedic and surgical service lines. Corazon will continue to operate under its brand and will augment Ingenovis Health's Physician Services division (including VitalSolution and VISTA Staffing Solutions) by adding accredited program development, quality management and accreditation capabilities for hospitals, health systems and physician practices across the U.S. and Canada.

McMurray Stern Inc. acquired the assets of Invata Intralogistics and launched MSI Automate, a new warehouse automation, robotics, and logistics division. The asset sale (completed December 2023 via Article 9 UCC) brings Invata's goods-to-person systems and AI-powered intralogistics software into McMurray Stern's specialty storage and workspace business to expand its automation capabilities and serve large enterprise clients.

Sila Services, a home services platform, has acquired Triangle Heating, Cooling, Plumbing & Electrical of Bellefonte, Pennsylvania. The add-on expands Sila's footprint into Central Pennsylvania and brings Triangle’s residential HVAC, plumbing and electrical services and team into the Sila Services platform.

Nevro Corp. acquired Vyrsa Technologies, a privately held medical technology company focused on minimally invasive sacroiliac (SI) joint fusion devices, in a deal that closed November 30, 2023. Nevro paid $40 million at closing and may pay up to an additional $35 million in cash or stock tied to development and sales milestones; the company said Vyrsa will broaden its product portfolio and is projected to be accretive in 2024.

Cadex Solutions, a portfolio company of Trivest Partners, has acquired DAL, Inc., a Philadelphia-based commercial accounts receivable management and legal recovery firm founded in 1974. DAL will operate as a standalone brand within the Cadex family with Donna Daniels named President as founder Dominick Longhi retires; the deal expands Cadex’s order-to-cash and commercial collections capabilities across domestic and international markets.

Milestone Partners, a private equity firm focused on technology-enabled services and financial solutions, has acquired CDE Services LLC, a provider of integrated payment processing and ancillary POS services. The transaction was supported by strategic capital and credit commitments from LO3 Capital, Tecum Capital, and Navigate Capital Partners and is intended to accelerate CDE's product expansion and market share growth in the integrated payments space.

LDR Growth Partners (through Fund I LP and its parallel vehicle the American Manufacturing Fund) acquired ATI Corporation, a New Holland, Pennsylvania manufacturer of skid steer and track loader attachments, including the Level Best grading boxes. The transaction, completed October 17, 2023, transfers the family-owned business (founded 1978) to LDR to support leadership transition and scale operations.

Pamlico Capital has made a strategic growth investment in Your Part-Time Controller, LLC (YPTC), a Philadelphia-headquartered outsourced accounting firm serving nonprofit organizations. Founder Eric Fraint will retire in early 2024 but remain a significant shareholder and board member, while Jennifer Alleva will become CEO; Fairmount Partners served as exclusive financial advisor and terms were not disclosed.

Class Valuation, a national appraisal management company headquartered in Troy, Michigan, has acquired Valuation Connect, an appraisal management subsidiary of Mortgage Connect LP. The acquisition (a divestiture by Mortgage Connect) is intended to strengthen Class Valuation's appraisal capabilities, expand its retail presence, and accelerate development of appraisal technology and modernization products.

Chicago-based Sales Empowerment Group (SEG), a portfolio company of RFE Investment Partners, has acquired Philadelphia-based Square 2 Marketing. The deal expands SEG's marketing capabilities—adding Square 2's HubSpot expertise, demand-generation services and its Accelerator Program—to create a full "click to close" revenue generation offering for SEG clients and private equity portfolio companies.

Operio Group, a Fort Worth-based holding company, has acquired Elizabeth Carbide Die Co. Inc., Elizabeth-HATA, and Scheu & Kniss — three U.S.-based manufacturers of tablet tooling, tablet presses, blister-pack tooling and related press parts. The deal expands Operio's portfolio of solid-dose manufacturing solutions and brings manufacturing, parts and service capabilities into its platform to better serve pharmaceutical, nutraceutical and related end markets.

Summit Fire & Security LLC (a subsidiary of SFP Holding, Inc.) acquired Triguard Security, Inc. effective November 14, 2023. The acquisition expands Summit's Mid‑Atlantic footprint and brings Triguard's commercial and government fire alarm, security, inspection and monitoring capabilities into Summit's Scranton/Pittston, Pennsylvania operations.

Austin-based private equity firm Blue Sage Capital has completed a majority investment/recapitalization in Geo-Solutions, Inc., a New Kensington, Pennsylvania geotechnical and environmental remediation services provider. Blue Sage will partner with Geo-Solutions' management to expand geographic footprint, extend service lines, pursue strategic acquisitions and reinvest in the business.

Core & Main Inc. has entered into a definitive agreement to acquire substantially all of the assets of Lee Supply Company Inc., a family-owned specialty distributor and fabricator of HDPE pipe, fittings, pumps and fusion equipment rental services. The acquisition expands Core & Main’s HDPE product and service capabilities and brings Lee Supply’s four East Coast locations into Core & Main’s national distribution network.

Tourtellot & Co., a portfolio company of Encore Consumer Capital, has acquired Ryeco Inc. from the Reilly family to create a super-regional produce distribution platform serving the Northeast through the mid-Atlantic. The Reilly family remains an owner in the combined business and Michael Reilly Jr. will continue partnering with Tourtellot's leadership to integrate operations and drive growth.

Unicorr Packaging Group, a family-owned corrugated converter based in North Haven, Connecticut, has acquired TriState Container Corporation, a Bensalem, Pennsylvania corrugated packaging manufacturer with three Philadelphia-area facilities. The deal expands Unicorr's geographic footprint into Pennsylvania and adds TriState's high-graphic and digital printing capabilities to Unicorr's manufacturing network.

Nordic Capital has agreed to acquire a majority share in IntegriChain, a Philadelphia-based provider of a data-driven commercialization and market-access platform for the pharmaceutical industry, from Accel-KKR. The terms were not disclosed; closing is expected before year-end and is subject to customary regulatory and closing conditions.

CHA Consulting, Inc. has acquired Predictive Maintenance Solutions (PdMS), a specialized provider of predictive maintenance programs and vibration analysis headquartered just outside Philadelphia, Pennsylvania. PdMS will be rebranded PdMS, A CHA Company and its capabilities will expand CHA's reliability, predictive maintenance and condition-monitoring services across power generation, utilities, manufacturing, data centers and pharmaceutical end markets.

Beneficial Reuse Management (BRM) has acquired USA Gypsum (USAG), a Denver, Pennsylvania-based drywall recycler. The acquisition expands BRM’s gypsum sourcing and recycling capabilities and broadens its geographic footprint, enabling combined operations to market over 1.5 million tons of industrial by-products annually to agricultural and industrial customers.

TPH Academy has acquired Method Hockey and will establish a new TPH Philly campus at Ice Line Quad Rinks in West Chester, Pennsylvania. Method Hockey founders Jamie Lundmark and Kevin Holt remain in the ownership group as TPH integrates Method’s coaching and programming into its academy model to expand local hockey development offerings.

Cameco and Brookfield (with Brookfield Renewable Partners and institutional partners) have completed their joint acquisition of Westinghouse Electric Company after receiving required regulatory approvals, with the transaction closing on or about November 7, 2023. Cameco will finance its share using a US$600 million term loan and available cash; the deal transfers ownership of Westinghouse (a leading nuclear technology and services provider headquartered in Cranberry Township, Pennsylvania) from Brookfield Business Partners to the new investor group.

6K Additive, a division of 6K Inc., has acquired Global Metal Powders (GMP), adding proprietary processing and recycling capabilities for titanium and refractory metal powders. The acquisition expands 6K Additive's manufacturing capabilities and solidifies its position in sustainable metal powder production, with GMP's New Castle, Pennsylvania plant remaining in operation.

Dakota Wealth Management has agreed to acquire JMG Wealth Management Group, an independent advisory firm that manages roughly $300 million across offices in Mechanicsburg, Pennsylvania and Hilton Head Island, South Carolina. The deal gives Dakota its second Pennsylvania office and first South Carolina presence, brings the JMG leadership team into Dakota as managing directors, and pushes Dakota's assets under management toward the $4 billion mark.

Risk Strategies acquired Fairmount Benefits Company, a Pennsylvania-based specialty employee benefits brokerage and consulting firm, to strengthen its national employee benefits practice. Terms were not disclosed; the acquisition adds Fairmount's expertise in benefits program development, pharmacy cost management and benefits technology to Risk Strategies' capabilities.

Incline Equity Partners has partnered with White Label Communications, a provider of private-label unified communications and a developer of the Atlas technology platform. Incline will provide capital and strategic support to advance WLC's platform and pursue complementary add-on acquisitions to broaden its private-label solutions for MSPs and SMB end customers.

TREND Health Partners has acquired PrecisionGx, a provider of AI/ML-driven claims audit and payment accuracy solutions for healthcare payers and administrators. The acquisition adds PrecisionGx's Astria analytics engine to TREND's TRENDConnect platform to expand payment accuracy, membership integrity, and pre-pay audit capabilities.

Silony Medical International AG completed the acquisition of Centinel Spine’s Global Fusion Business, including all cervical and lumbar fusion products and the STALIF technology platform. The deal gives Silony a major entry into the United States market, strengthens its anterior standalone cage offering, and the company will rebrand to Silony Spine to emphasize its focus on spinal fusion technology.

Chicago-based private equity firm Frontenac has made a growth investment in Prime Food Processing and Chan & Chan, Inc. (together, CCI Prime), a 30+ year-old manufacturer and importer of Asian-style frozen foods. Founder Albert Chan will retain a significant ownership stake and remain CEO as Frontenac supports expansion of CCI Prime’s Asian cuisine offerings into mainstream retail while continuing to serve the ethnic grocery channel.

Miner Ltd., the dock and door division of OnPoint Group, has acquired Central State Door Service, a Pennsylvania-based provider of commercial and residential doors and dock equipment. The deal expands Miner's service footprint across Pennsylvania and strengthens OnPoint Group's nationwide dock, door and facility maintenance network.

Cyncly, a global provider of end-to-end software and content solutions for the spaces-for-living industry, has acquired Mobile Marketing, a Pennsylvania-based digital marketing and web services provider focused on flooring retailers. The acquisition integrates Mobile Marketing's specialized digital and e-commerce capabilities into Cyncly's flooring offering to expand customer engagement, lead generation and an end-to-end digital-to-ERP customer journey across North America.

Alamo Group Inc. acquired 100% of the outstanding equity of Royal Truck & Equipment, a Shoemakersville, Pennsylvania-based manufacturer of truck-mounted highway attenuator trucks and other highway safety equipment. The acquisition adds a new platform for Alamo in the highway safety equipment market and is expected to accelerate Royal Truck's growth amid increased government infrastructure spending.

Schaedler Yesco Distribution Inc. has entered into an agreement to acquire Clarion Electric Supply Company, a two-location electrical supply distributor in northwest Pennsylvania. The deal, driven by Schaedler Yesco's western-region growth strategy, is expected to close after due diligence in December 2023 and will expand Schaedler Yesco's footprint to better serve contractors in Northwest Pennsylvania.

nClouds, an AWS Premier Tier Services Partner, has acquired Cloudnexa, another AWS Premier partner, to combine cloud operations, security and compliance capabilities. The deal—completed by nClouds (which is backed by Charles Thayne Capital)—creates one of the largest pure-play AWS partners in North America and strengthens the combined firm's offerings across public sector, healthcare, fintech and other industries.

Sidereal Capital Group led a recapitalization of Peachey Hardwood Flooring, partnering with the company's senior management while Parkway Capital and Farragut Capital Partners provided subordinated/unitranche debt and equity financing. The transaction provides liquidity to owner Don Coleman and will fund increased production capacity and growth initiatives at the Reedsville, Pennsylvania manufacturer of premium hardwood flooring and millwork.

Creative Planning, a leading independent RIA based in Overland Park, Kansas, has acquired Kistler-Tiffany Advisors, an independent fiduciary specializing in wealth management, estate planning and business succession for high-net-worth families. The acquisition expands Creative Planning’s advisory capabilities and client service offerings by integrating Kistler-Tiffany’s experienced team and specialized expertise.

Dental365 acquired Quakertown Family Dental, a long-standing dental practice in Quakertown, Pennsylvania, expanding Dental365’s presence in the state. The small practice — which includes dentists Dr. Brian Schoenly and Dr. Majid Dastgir — will operate under the Dental365 platform; financial terms were not disclosed.

KYOCERA AVX is acquiring the assets, people, and IP of Bliley Technologies and will operate the acquired business under KYOCERA AVX Components Corporation. The asset transfer expands KYOCERA AVX's crystal device portfolio and brings Bliley’s low-noise frequency control products, patents, and a certified Erie, Pennsylvania manufacturing facility into KYOCERA AVX to better serve aerospace, defense, satellite and telecommunications markets.