Acquisitions in Rhode Island in 2025

Following a 2024 merger, PeopleGrove and CORE Higher Education Group have combined under the PeopleGrove brand and launched a unified website and integrated product suite. The combined company will integrate CORE’s experiential and clinical education management solutions with PeopleGrove’s engagement and career-readiness platform to better serve colleges, universities, and health-science programs.

Arcfield has completed its acquisition of Rite-Solutions, a Rhode Island–based systems engineering, software development and IT provider serving U.S. government customers. The deal expands Arcfield’s undersea warfare and naval systems expertise to complement its existing nuclear surety and missile engineering capabilities, strengthening the combined firm’s systems engineering and all-domain mission operations for defense customers.

Summit Financial has made a minority investment in Ivy Wealth Management, a West Warwick, Rhode Island-based registered investment advisor that oversees more than $500 million in client assets. The deal expands Summit’s national RIA platform and strengthens its presence in the Northeast while allowing Ivy’s principals to retain operational control and access Summit’s capital, technology and investment-management resources.

Hilb Group, a Carlyle-backed property & casualty and employee benefits broker, acquired a Rhode Island–based property and casualty agency (OceanPoint Insurance) effective November 1, 2025. The acquisition expands Hilb Group’s New England presence and adds a personal-lines-focused book of business to its regional portfolio.

RelaDyne has acquired Ocean State Oil, a North Kingstown, Rhode Island-based distributor of lubricants and diesel exhaust fluid (DEF). The deal expands RelaDyne's Northeast footprint, adding Rhode Island to its network and strengthening distribution and service capabilities for automotive, commercial and industrial customers in the region.

Tag Agency Professionals (TAP), a St. Petersburg, Florida-based title and registration services provider, has acquired EZDMV, a Middletown, Rhode Island-based private tag agency specializing in fleet services. The deal adds EZDMV's fleet operations across 16 states (expanding TAP into 8 new states) and will retain founder Dennis Sullivan and the existing management team to help scale TAP's national network.

Industrial Opportunity Partners (IOP) led a recapitalization of Charcuterie Artisans, the parent of Creminelli Fine Meats and Del Duca, acquiring the company’s assets and assuming majority ownership alongside capital partners Oaktree Capital Management, Sandton Capital Partners and Contrarian Capital Management. The transaction eliminated approximately $200 million of debt, secured a new working capital facility from PNC Business Credit, and positions Charcuterie to expand capabilities, strengthen customer partnerships and invest in growth across its premium charcuterie portfolio. Jeff "Trip" Tripician was appointed CEO to lead the company’s next phase.

Liberty Service Partners has acquired Restivo's Heating & Air, a family-owned HVAC provider serving the Providence area in Rhode Island. The add-on expands Liberty Service Partners' residential HVAC footprint into the Northeast as part of its platform growth backed by NorthCurrent Partners.

US Dock & Door (USDD), a service platform backed by Soundcore Capital Partners, has acquired Garage Headquarters, a family-owned provider of residential and commercial overhead garage doors and related services in southeastern New England. The acquisition expands USDD's service capabilities and footprint into the Northeast while preserving the Grace family's legacy and existing distributorship relationships.

McDonald Electrical Corporation has acquired ANJ Electric, a union electrical contractor serving Rhode Island and Connecticut. The acquisition expands McDonald Electrical’s regional footprint and service capabilities—adding licensed operations in Rhode Island and Connecticut while retaining ANJ’s local leadership and workforce to support commercial, industrial, and utility projects across the Northeast.

Wealthbox, a CRM SaaS provider for financial advisors, secured a $200 million investment from Sixth Street Growth in a recapitalization. Frontier Growth rolled over a substantial portion of its equity as part of the transaction to support Wealthbox's product development, scaling of operations, and expansion across the wealth management market.

Crete United has added CAM H.V.A.C. & Construction, a Smithfield, Rhode Island-based mechanical contractor, as the company’s first Rhode Island partner to expand its Northeast footprint. The move brings CAM’s nearly 50 years of HVAC installation, repair and in‑house sheet metal fabrication capabilities into Crete United’s partner network; financial advisor to CAM was Griffin Financial Group.

Easton Select Group, a PE-backed national pool services platform, has acquired New England Aquatics, Inc., a West Warwick, Rhode Island-based commercial pool repair and maintenance specialist. The deal expands Easton Select's capabilities into commercial pool services (municipal, institutional, hospitality) while the New England Aquatics team will remain in place and continue operating under its brand.

Minuteman Security & Life Safety has acquired Cranston, Rhode Island-based Shanix Technology, Inc., a security and audiovisual systems integrator with more than 30 employees. The acquisition deepens Minuteman's New England coverage, expands its AV and life-safety capabilities, and keeps Shanix's leadership and staff in place to continue serving higher education, healthcare and other institutional clients.

Savant Wealth Management has acquired Middletown, Rhode Island-based Corrigan Financial, a 25-person fee-only RIA managing $1.15 billion in AUM. The deal, which closed April 30, 2025, expands Savant's national footprint into Rhode Island and brings Corrigan's tax preparation capabilities into Savant's Tax & Consulting business line.

Wenger Corporation has acquired Creative Conners, Inc., a Cranston, Rhode Island-based maker of advanced stage automation systems. The deal expands Wenger's performing-arts product portfolio and technical capabilities in motion-control and theatrical automation; Creative Conners will continue operations in Rhode Island and integrate with Wenger's existing staging and rigging brands.

Bradley, Foster & Sargent (BFS) has completed a merger with Napatree Capital, bringing Napatree’s approximately $350 million in assets under management into BFS’s platform (BFS manages roughly $8 billion AUM). The Napatree team will join BFS and retain offices in Westerly, Rhode Island and Longmeadow, Massachusetts as BFS expands its presence and advisory capabilities in Southern New England.

OIA Global has acquired JF Moran, a U.S.-based customs brokerage and freight forwarding firm, to strengthen its North American customs compliance and trade expertise. The deal expands OIA's footprint and capabilities in customs brokerage, foreign-trade-zone services, and regulatory trade compliance across key end markets including retail, energy and automotive.

American Food Partners, Inc. has acquired NGC, Inc., the owner of The Town Dock, a Rhode Island-based seafood company specializing in squid and calamari, including its affiliated fleet of vessels. Ryan Clark will remain as CEO of The Town Dock while AFP adds the business to its portfolio alongside SeaFresh USA and Handrigan Seafood to expand its U.S. presence and squid/calamari program.

Calera Capital (through an affiliate) acquired a majority stake in Nocturne Luxury Villas from Gladstone Investment Corporation; financial terms were not disclosed. Nocturne is a luxury vacation rental management platform with operations in St. Barth's, Grand Cayman, Telluride (CO), Cabo San Lucas (Mexico), Santa Barbara (CA) and Florida's Emerald Coast and is headquartered in Newport, Rhode Island.

King Risk Partners, a Gainesville, Florida-based insurance broker, has acquired The Insurance Center, an independent insurance agency located in Warwick, Rhode Island. The deal expands King Risk Partners' local presence in Rhode Island and aligns with its strategy of growth through partnerships with established regional agencies.

Wellvana has acquired the Medicare Shared Savings Program (MSSP) business of CVS Accountable Care (part of CVS Health) in an all-stock transaction that gives CVS Health a strategic minority ownership in Wellvana. The deal expands Wellvana's ACO footprint and capabilities — broadening its provider network and technology while integrating CVS MSSP talent to support approximately 1 million Medicare patients across 40 states.

Encore Fire Protection has acquired Metro USA Fire Protection Inc., expanding Encore’s service capabilities and footprint across New England. Metro USA, a more-than-two-decade regional fire protection provider serving 28 counties across Massachusetts, Maine, New Hampshire, Rhode Island and Vermont, was advised by The Potomac Company in the transaction.

OpenGov has acquired Ignatius, a low-code AI platform that automates public sector forms, workflows and custom applications, to accelerate AI and no-code capabilities for local and state governments. The acquisition expands OpenGov's product portfolio for grants management, disaster preparedness, infrastructure banking and other government program administration.

Standard General L.P. completed a $4.6 billion acquisition of Bally’s Corporation, and concurrently Bally’s combined with The Queen Casino & Entertainment Inc. Under the transactions, Queen shareholders received 30.5 million Bally’s shares, certain Bally’s shareholders received $18.25 per share in cash financed in part by $500 million of senior secured notes provided by funds managed by Apollo. The combined company expands Bally’s casino footprint (now 19 casinos) and interactive gaming presence.

Shell Energy North America (SENA), a subsidiary of Shell plc, has completed the 100% equity acquisition of RISEC Holdings, LLC, owner of a 609 MW two-unit combined-cycle gas turbine power plant outside Providence, Rhode Island. The deal consolidates Shell’s position in the ISO New England wholesale market and secures long-term supply and capacity offtake previously contracted through the plant, which entered service in 2002; prior owners included funds managed by Carlyle (51%) and EGCO RISEC II, LLC (49%).