Acquisitions in South Carolina in 2021

An affiliate of Variant Equity Advisors has acquired CompuCom from The ODP Corporation. The transaction is a corporate divestiture that positions Variant to enter the managed services/digital workplace market and provides CompuCom with resources to expand its service offerings and market leadership.

Oak Dental Partners (ODP), a rapidly growing dental service organization based in Atlanta, recapitalized Select Dental Partners, a multi-state pediatric dentistry and orthodontics provider headquartered in Fort Mill, South Carolina. The recapitalization closed on December 30, 2021; Marriott & Co. served as exclusive financial advisor to Select Dental and founder Dr. Robert Ellis III will remain in his CEO role under the new partnership.

Hubbell Electric Heater Holdings LLC (HEH Holdings) acquired RECO USA, a manufacturer of high-volume ASME pressure vessels and commercial water heaters based in Cayce, South Carolina. The asset purchase — which closed December 30, 2021 for undisclosed terms — includes RECO's 125,000 sq. ft. manufacturing facility and will keep production in South Carolina while expanding HEH Holdings' large-capacity water heating and storage capabilities.

Indianapolis-based private equity firm CID Capital’s portfolio company, ProSource, LLC, has acquired Marion Davis, Inc., a two-location plumbing, lighting and electrical supplier in Upstate South Carolina. The add-on expands ProSource’s plumbing and lighting capabilities and brings electrical supplies into its product assortment; Marion Davis will be rebranded to ProSource after a transition period.

NFP has acquired East Coast Underwriters, LLC and Blue Ridge Captive Solutions PCC, Inc., enhancing its medical stop loss and self-funded group captive capabilities. The transaction closed December 23, 2021, and Aaron Wilkie, president of East Coast Underwriters and Blue Ridge Captive Solutions, will join NFP as a managing director.

Sunny River Management (SRM), a private investment firm, has partnered with Palmetto Air & Water Balance, a Greenville, South Carolina-based provider of HVAC testing, adjusting, and balancing (TAB) services. As part of the transaction Rodney Hinton will become CEO while founder Penny Hinton remains President; SRM plans to accelerate growth through organic expansion and add-on acquisitions, with financing provided by Deerpath Capital Management.

Commercial Energy Specialists Holdings LLC (CES Holdings), a platform backed by Turning Basin Capital Partners and Vigeo Investments, acquired Duffield Aquatics, Inc., a full-service provider of water treatment programs for commercial and institutional pools based in Anderson, South Carolina. The add-on expands CES Holdings' geographic footprint and strengthens its market position across the Southeastern United States; terms were not disclosed and the deal closed January 14, 2022.

Tidal Wave Auto Spa acquired W4 Express Wash’s locations, including the Bluffton, South Carolina site at 1492 Fording Island Rd, adding ten open locations and a pipeline of greenfield development. The W4 sites will be rebranded to Tidal Wave and will undergo targeted improvements; Tidal Wave, a PE-backed car wash platform, said the deal supports its aggressive expansion and development strategy.

Quest Diagnostics has acquired substantially all assets of Labtech Diagnostics, an independent clinical diagnostic laboratory based in Anderson, South Carolina. The acquisition brings Labtech into Quest’s national laboratory network — Quest’s first full-service laboratory in South Carolina — and expands Quest’s diagnostic capabilities and presence across the Southeast.

Northleaf Capital Partners and family office AVALT acquired a majority interest in AMAROK, LLC from Snow Phipps Group, with AMAROK management retaining a minority stake. AMAROK, based in Columbia, South Carolina, operates approximately 5,000 solar-powered electric fence and perimeter security sites across the continental United States under ongoing service and maintenance agreements. Financial terms were not disclosed; Golub Capital provided debt financing for the transaction.

Nashville-based Urgent Care Group has completed the acquisition of Coastal Urgent Care in Pawleys Island, South Carolina. Coastal Urgent Care's founder Dr. Gerald Congdon and all employees will join the Urgent Care Group network and the center will be rebranded under the MEDcare Urgent Care banner with expanded hours and on-site services.

LFB Plasma, the U.S. plasma collection arm of France-based LFB Group, has acquired the ImmunoTek Bio Center collection site in Florence, South Carolina. The Florence center — LFB Plasma's first site in South Carolina and third in the U.S. — will transfer all 18 employees to LFB as the company expands its U.S. plasma collection footprint to increase domestic plasma supply.

11:11 Systems has closed its acquisition of Green Cloud Defense, a channel-focused cloud IaaS and managed security provider. The deal expands 11:11's cloud and security capabilities and brings Green Cloud's national channel partner network into 11:11's platform to accelerate growth across connectivity, cloud, and security.

Paper Excellence Group has completed its acquisition of Domtar, paying USD 55.50 per share and taking Domtar private. Domtar will operate as a stand‑alone business within the Paper Excellence Group with its existing management team remaining in place; Domtar common stock will be delisted from the NYSE and TSX.

Rockit Pest, a portfolio company of Halle Capital, has acquired Home Pest Control, a Columbia, South Carolina pest control services provider with nearly 60 years of history. The acquisition expands Rockit Pest's presence across South Carolina; Steven Leidinger will remain President of HPC and Curtis M. Loftis, Jr. (the company's current President and majority shareholder) will transition to Rockit Pest's Board of Directors.

Advanced Dermatology and Cosmetic Surgery has acquired SkinTrust Dermatology, a Greenville, South Carolina practice founded by Dr. Eric James Baker. The acquisition adds the SkinTrust clinic to Advanced Dermatology’s national network of more than 140 offices and provides Dr. Baker with expanded infrastructure, back-office support, and access to clinical research while expanding Advanced Dermatology’s footprint in South Carolina.

CURO Group Holdings Corp. completed the acquisition of Heights Finance from private equity firm Milestone Partners for $360 million ($335 million cash and $25 million stock). The deal expands CURO's branch footprint and installment-loan capabilities, adding roughly 400 branches and a loan portfolio serving underbanked and near-prime consumers across 11 U.S. states.

Greenrise Technologies, a holding of Boyne Capital, acquired Lake Murray Environmental Services (LMES), a South Carolina erosion-prevention and stormwater solutions provider. The transaction, advised by Generational Equity, closed on November 12, 2021 and represents an add-on acquisition to expand Greenrise's stormwater and erosion-control capabilities and geographic footprint.

Lockstep Technology Group, a Renovus Capital Partners portfolio company, has acquired BridgeTek Solutions, a Piedmont, South Carolina-based provider of education IT solutions. The deal expands Lockstep's education-focused service offerings — including cybersecurity, managed services, devices, VR and cloud solutions — and accelerates its geographic reach across the Southeast.

Astara Capital Partners acquired a majority stake in BDV Solutions, a Greenville, South Carolina-based tech-enabled provider of employment-based immigration services, partnering with the company's current owners including Founder and CEO Britt Vergnolle. Graycliff Partners provided unitranche debt and a minority equity investment to support the transaction; terms were not disclosed. The investment is intended to fuel BDV's growth and expand its service capabilities to help U.S. employers address labor shortages.

Pool Troopers, the Pool & Spa Services platform backed by Shoreline Equity Partners, has partnered with Year Round Pool Company, Inc., a full-service pool service and construction business serving Hilton Head and coastal Georgia. The transaction expands Pool Troopers’ footprint into South Carolina and Georgia and adds construction, retail, renovation, and design capabilities while Year Round Pool’s management remains engaged with a significant ownership stake.

Rockit Pest has acquired East Cooper Termite & Pest Solutions, a Mt. Pleasant, South Carolina‑based pest control company serving the greater Charleston area. The founder, Christopher Bavosa, will continue to manage the business as Rockit expands its presence in South Carolina through the add-on acquisition.

CareATC, a Tulsa-based employer-sponsored healthcare provider, has acquired CareTeam, a direct primary care provider based in Charleston, South Carolina. The deal expands CareATC's geographic footprint and service offerings for employer clients while retaining the CareTeam brand and leadership team.

Current (formerly GE Current, a Daintree company), part of American Industrial Partners, has completed the acquisition of Hubbell Incorporated's Commercial & Industrial (C&I) lighting business to form the expanded company branded as Current. The deal combines complementary product and controls portfolios — expanding Current's indoor/outdoor lighting, controls and connected lighting offerings and strengthening distribution and scale to capture LED conversion and connected-controls demand.

BARBRI Global, a Francisco Partners-backed legal education provider headquartered in Dallas, acquired PowerScore, a test-preparation leader for the LSAT and other standardized exams. The acquisition expands BARBRI's offerings at the front end of the legal education lifecycle and aims to accelerate PowerScore's growth through technology and new product-delivery methods.

HelpSystems (now operating as Fortra) acquired PhishLabs, a digital risk protection and cyber threat intelligence provider. The deal brings PhishLabs' threat intelligence and mitigation capabilities into HelpSystems/Fortra's cybersecurity portfolio to strengthen email security, vulnerability management, and data protection offerings.

Ridgemont Equity Partners has acquired Agape Care Group, a leading hospice and palliative care provider headquartered in Spartanburg, South Carolina, from The Vistria Group. Financial terms were not disclosed; Ridgemont plans to expand Agape's geographic footprint across the Southeast and continue growth through de novo locations and add-on acquisitions.

Funds advised by Searchlight Capital Partners agreed to acquire a majority stake in Integrated Power Services (IPS) from funds advised by Odyssey Investment Partners. IPS, headquartered in Greenville, South Carolina, is an industrial aftermarket services provider for motors, generators, pumps and power systems across industrial and renewable energy end-markets; the deal is expected to close later this year subject to customary regulatory approvals.

Bates Group, a U.S. financial services consulting firm, has acquired CorCom LLC, an AML/financial-crimes compliance consultancy based in Spartanburg, South Carolina. The acquisition brings CorCom’s certified AML team and capabilities into Bates to expand its AML, BSA/OFAC, licensing and training offerings for banks, fintechs, cryptocurrency firms and MSBs.

Plasman, an Insight Equity portfolio company, has acquired Minghua USA, a Greer, South Carolina mold, paint, bonding and assembly plant serving the automotive industry. The add-on expands Plasman's North American manufacturing footprint and fascia/bumper production capacity, bringing the platform to 17 global sites and adding Volkswagen as a customer alongside existing BMW and Volvo relationships.

Highlander Partners, a Dallas-based private investment firm, acquired RMS Beauty, the Charleston-headquartered pioneer of the clean beauty movement. Highlander plans to scale the brand by revamping marketing and product assortment, strengthening retail relationships, driving direct-to-consumer growth, and using RMS as the foundation for a broader clean-beauty platform.

Accenture has acquired Advoco, a leading systems integrator for Infor EAM, to scale its intelligent asset management capabilities within Accenture Industry X. The Advoco team of over 100 asset management professionals will join Accenture and its Greenville, South Carolina office will serve as a center of excellence; terms were not disclosed.

Cushman & Wakefield has acquired the South Carolina operations of long-time alliance member Morton G. Thalhimer, Inc., including three offices in Charleston, Greenville and Columbia. The move expands Cushman & Wakefield's presence across the Carolinas while allowing Thalhimer to focus on its Virginia operations and alliance relationship.

Construction Partners, Inc. (NASDAQ: ROAD) acquired King Asphalt, Inc., a Liberty, South Carolina-based hot-mix asphalt and paving company with three plants in the Greenville area. The acquisition gives Construction Partners a South Carolina platform to support future geographic expansion and participation in public, commercial and residential paving projects.

Beemok Capital, the family office of Benjamin Navarro, has completed its acquisition of the Charleston Place hotel in Charleston, South Carolina. The buyer (through its Beemok Hospitality Group vertical) plans significant investments and property improvements over the next 18 months; financial terms were not disclosed. The prior owner was Belmond Ltd.

Relation Insurance Services, a PE-backed national insurance brokerage, acquired the assets of The Furman Co. Insurance Agency of Greenville, South Carolina. Terms were not disclosed; Furman’s staff, including Jennifer Hincapie, joined Relation and will continue operating from the Greenville location as Relation expands its commercial and personal lines footprint in South Carolina.

Kohlberg & Company has acquired Ob Hospitalist Group (OBHG) from Gryphon Investors. OBHG, headquartered in Greenville, South Carolina, is the nation’s largest provider of dedicated obstetric hospitalist programs with a network of over 1,100 clinicians serving ~200 hospitals across 34 states; management remains with the company and retains a significant stake.

Relation Insurance Services, Inc. acquired the assets of Pitts Insurance Team, an independent insurance agency based in Columbia, South Carolina. The acquisition expands Relation’s presence in South Carolina; terms were not disclosed.

Relation Insurance Services, a PE-backed national insurance brokerage, has acquired the assets of Perry Insurance Group, a Lexington, South Carolina-based insurance agency. The acquisition expands Relation's footprint and capabilities across South Carolina—particularly in small commercial, middle-market commercial and personal lines—and David Perry will continue with Relation as a leader in Relation Select. Terms were not disclosed.

Deloitte Risk & Financial Advisory has acquired aeCyberSolutions, the industrial cybersecurity division of South Carolina-based aeSolutions. The transaction is a divestiture of aeSolutions' cybersecurity unit and will allow Deloitte to expand its industrial/OT cybersecurity capabilities while aeSolutions refocuses on its core process safety and automation engineering services.

Class Valuation, a Gridiron Capital-backed appraisal management company, has acquired SouthEastern Evaluation, a Greenville, South Carolina appraisal management firm. The deal expands Class Valuation's market density and appraiser relationships across the southeastern United States, particularly in South Carolina, North Carolina and Virginia.

Independent performance marketing agency Wpromote has acquired Visiture, an Atlanta- and Charleston-based e-commerce agency, to expand its e-commerce development, SEO and paid media capabilities and deepen partnerships with platforms like Adobe and Shopify. The deal gives Wpromote a larger footprint in the U.S. Southeast and adds Visiture's web development and storefront expertise to Wpromote’s service offerings.

DCL Corporation acquired Sun Chemical's performance pigments manufacturing facility in Goose Creek (Bushy Park), South Carolina, closing on July 31, 2021. The deal transfers production and sales of perylene and quinacridone pigment portfolios (and select specialty products) to DCL, adding high-performance pigments and a U.S. manufacturing base to DCL's global operations.

Advanced Dermatology and Cosmetic Surgery has acquired Palmetto Dermatology, the West Columbia, South Carolina practice of Dr. Jeffrey K. Smith. The practice becomes Advanced Dermatology's second location in South Carolina and joins its ~150-office national platform; Dr. Smith and his clinical team will remain on site. The deal is an add-on aimed at expanding Advanced Dermatology's regional footprint and clinical capabilities (including Mohs surgery).

LNC Partners, a Northern Virginia-based private equity firm, has made a significant investment in Cantey Tech Consulting, an IT managed service provider headquartered in Charleston, South Carolina. The capital will support Cantey Tech's growth strategy — including pursuing add-on acquisitions across the southeastern United States — while Willis Cantey remains CEO.

Fast Growing Trees, a Summit Park‑backed e-commerce provider of live goods, has acquired The Planting Tree, a direct‑to‑consumer seller of trees, shrubs, grasses and perennials. The acquisition is an add‑on to the Fast Growing Trees platform intended to expand product assortment, customer reach and fulfillment capabilities across the continental United States.

Abry Partners and Hoplon Capital completed the acquisition of Concentrix Corporation’s insurance third‑party administration and software platform and rebranded the business as illumifin. The carve‑out establishes an independent insurance administration and software company led by CEO Phil Ratcliff to provide technology‑enabled services to individual and group insurers.

World Insurance Associates LLC (WIA), a Tinton Falls, New Jersey-based insurance brokerage, acquired Lawrence & Brownlee Agency and John Roberts Insurance Agency of Anderson, South Carolina on April 1, 2021. The transactions expand WIA's local retail and commercial insurance footprint in Anderson; terms were not disclosed.

Repay Holdings Corporation (REPAY) acquired Kontrol Payables for up to $11 million (approximately $8 million paid at closing) to expand its B2B accounts payable automation and payments capabilities. Kontrol, founded in 2011, provides integrated AP automation with 30+ ERP integrations and a supplier network of over 13,000, and is expected to process roughly $300 million of virtual card volume in 2021.

Acumen Health Holdings has acquired Eye Love, LLC, a maker of ocular health products including lid and lash cleansers, heated eye masks, and hypochlorous solutions. The acquisition brings Eye Love into Acumen's portfolio to expand its ocular product offerings and distribute Eye Love products through Acumen's clinician-focused, subscription-based platform.