Acquisitions in Tennessee

Tracked deals

821

821 tracked deals across 2005-2026.

Buyer mix

Mixed buyer set

645 strategic · 410 pe

Top trend

Volume peaked in 2022

133 tracked deals announced in 2022.

Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

Find buyers active in Tennessee →
Buyer # Deals Focus Type
Hub International Limited 6 Leading global insurance brokerage and financial services... Strategic (PE-backed)
Gryphon Investors 5 Middle-market private equity firm focused on profitably g... PE
BayMark Health Services 4 Operator of outpatient and ambulatory substance use disor... Strategic (PE-backed)
Centre Partners 4 Middle-market private equity firm focused on consumer and... PE
Greater Sum Ventures 4 Entrepreneurial family office investing its own capital i... Family Office
Hidden Harbor Capital Partners 4 Private equity firm investing in lower-middle market and ... PE
Platinum Equity 4 Global private investment firm specializing in buyouts an... PE
Pritzker Private Capital 4 Family direct investing firm that partners with middle-ma... PE
Allied Industrial Partners LLC 3 Lower-middle market private equity firm that invests in i... PE
AppleGate Recovery 3 Provider of outpatient medication-assisted treatment (bup... Strategic (PE-backed)

Acquisition Volume in in Tennessee by Year

Last 10 years

Acquisition volume by year Annual acquisition counts for the last 10 years for Acquisitions in Tennessee. 5 2017 5 2018 37 2019 72 2020 121 2021 133 2022 103 2023 127 2024 111 2025 ~125 est. 99 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    GHK Capital Partners LP
    Target
    USA Hometown Experts Inc.
    Seller
    MSouth Equity Partners LP
    Type
    Buyout

    GHK Capital Partners completed its acquisition of USA Hometown Experts, a Memphis-based provider of residential and commercial HVAC, plumbing, electrical, and other services operating through eight brands across the Southeast. The investment is intended to support expansion into new markets, the addition of trades, and further acquisitions; terms were not disclosed.

  • Buyer
    World Marketing of America, Inc.
    Target
    United States Stove Company
    Industry
    Manufacturing
    Type
    Buyout

    United States Stove Company has joined World Marketing of America, bringing US Stove’s wood- and pellet-burning stoves, furnaces and hearth products together with WMA’s portable and residential heating portfolio. The combination is intended to create a broader heating-products offering and a more coordinated operating platform; US Stove’s brands remain in the market and its leadership continues under WMA’s executive team.

  • September 17, 2026
    Buyer
    StrategyCorps
    Target
    Quantuma
    Type
    Buyout

    StrategyCorps announced it has acquired Quantuma, an AI-native relationship solution for commercial and business banking. The acquisition will extend StrategyCorps’ MonetizeIQ (MIQ) platform with “MonetizeIQ for Business Banking,” using transaction intelligence and AI agent orchestration to surface growth opportunities for community and regional banks.

  • Buyer
    WJRJJ Ventures, LLC
    Target
    HealthStream, Inc.
    Seller
    Robert A. Frist, Jr.
    Industry
    Software

    WJRJJ Ventures, LLC acquired 1,355,932 newly issued HealthStream shares for approximately $40 million and purchased another 144,068 existing shares from CEO Robert A. Frist, Jr. for approximately $4.25 million. The transaction closed on September 14, 2026, giving HealthStream proceeds for general corporate purposes and reflecting WJRJJ’s confidence in the company’s growth prospects.

  • Buyer
    Hanger, Inc., Patient Square Capital
    Target
    Numotion
    Seller
    AEA Investors, LLR
    Type
    Buyout

    Hanger has agreed to acquire Numotion for cash, combining orthotic and prosthetic patient care with Complex Rehabilitation Technology and mobility solutions. The combined company, Hanger Numotion, will be controlled by Patient Square Capital, with both brands and clinical operations continuing post-close.

  • Buyer
    Olympus Cosmetic Group
    Target
    Gallaher Plastic Surgery & Med Spa
    Seller
    Dr. Tom Gallaher
    Type
    Addon

    Olympus Cosmetic Group acquired Gallaher Plastic Surgery & Med Spa, a cosmetic plastic surgery and med spa practice in Eastern Tennessee. The deal expands Olympus’ surgeon-founded aesthetics platform into Tennessee, with the practice continuing under its physician-led approach led by Dr. Tom Gallaher.

  • Buyer
    Shell
    Target
    Tri Star Energy
    Seller
    The Parman Corporation, Kimbro Oil Company
    Industry
    Oil & Gas
    Type
    Buyout

    Shell has signed an agreement to acquire the remaining 67% interest in Tri Star Energy, increasing its ownership to 100%. The deal will add 320 company-owned fuel and convenience retail locations across Tennessee and neighboring states, with additional supply agreements covering 552 dealer-owned sites.

  • Buyer
    C&D Industrial Maintenance
    Target
    OHD East Tennessee
    Seller
    Wm. S. Trimble Co., Inc.
    Type
    Addon

    C&D Industrial Maintenance acquired the overhead door business of Wm. S. Trimble Co., operating as Overhead Door Company of Knoxville, Chattanooga, and Johnson City (OHD East Tennessee). The add-on expands C&D’s commercial door and dock services platform into East Tennessee; the Trimble family’s business had served the region since 1936.

  • Buyer
    SAM
    Target
    Wilson & Associates, P.C.
    Seller
    Joey C. Wilson II
    Industry
    Infrastructure
    Type
    Buyout

    SAM, a provider of geospatial and inspection services for critical infrastructure markets, announced it acquired Wilson & Associates, a geomatics and utility engineering firm based in Franklin, Tennessee. The acquisition expands SAM’s surveying, geospatial, and utility engineering capabilities and strengthens its presence across Tennessee and the broader Southeast.

  • Target
    Freeman Wood Products, Fabrication Specialties
    Industry
    Manufacturing
    Type
    Buyout

    Freeman Wood Products and Fabrication Specialties merged effective January 1, 2026 to create FreeFab Pallet, Inc., a custom wood pallet manufacturer based in Centerville, Tennessee. The combined company brings together decades of pallet manufacturing experience, expanded production capacity, and additional capabilities including custom pallet design and recycling/repurposing used pallets for regional customers.

  • Buyer
    BPOC
    Target
    Master Medical Equipment

    BPOC made a strategic growth equity investment in Master Medical Equipment (MME), a Jackson, Tennessee-based provider of medical equipment distribution, rentals, repair, and maintenance services for pre-hospital and post-acute healthcare markets. The companies plan to expand MME’s geographic footprint and broaden its range of solutions while founder and CEO Mark Taylor continues leading the business.

  • Buyer
    BPOC
    Target
    ReNew Biomedical

    BPOC made a strategic growth equity investment in ReNew Biomedical, sister company to Master Medical Equipment, which provides biomedical equipment repair and preventative maintenance services for pre-hospital and post-acute healthcare markets. The investment is intended to support expansion of the companies’ geographic footprint and broader solution offerings, with founder and CEO Mark Taylor continuing to lead both businesses.

  • Buyer
    Vital Records Control (VRC Companies, LLC)
    Target
    AskTuring.ai
    Industry
    IT Services
    Type
    Buyout

    Vital Records Control (VRC Companies, LLC) announced it has acquired AskTuring.ai to enhance its technology stack and expand AI capabilities within its information governance services. VRC plans to integrate AskTuring’s AI technology into its VitalControl platform to help customers securely access, understand, and manage information across physical and digital repositories.

  • Buyer
    WSB LLC, GHK Capital Partners LP
    Target
    Civil Infrastructure Associates, LLC (CIA)
    Seller
    Unknown
    Type
    Buyout

    WSB LLC acquired Civil Infrastructure Associates, LLC (CIA), a municipal engineering firm supporting the Nashville metropolitan area. The deal expands WSB’s municipal, environmental, water and wastewater, aviation infrastructure, surveying, GIS, and infrastructure funding assistance capabilities, strengthening its Southeast footprint. CIA’s leadership will join the combined organization as services are integrated and a coordinated go-to-market approach is developed for 2026.

  • Buyer
    Arbor Alliance
    Target
    Druid Tree Service
    Type
    Addon

    Arbor Alliance, an Atlanta-based tree care services provider, acquired Druid Tree Service, a Nashville company founded in 1978 with nearly five decades of operating history. Druid will continue serving existing residential and commercial customers in Middle Tennessee under the Druid name, with day-to-day operations led by a newly appointed ISA Certified Master Arborist.

  • Buyer
    SurgePays, Inc.
    Target
    Redline Wireless Group, LLC

    SurgePays, Inc. formed Redline Wireless Group, LLC as a joint venture to expand its prepaid wireless distribution nationwide. Redline combines SurgePays’ MVNO infrastructure (including the LinkUp Mobile brand and support systems) with a large independent dealer footprint of 20,000+ active prepaid wireless dealers managed by a contributing wireless master distribution organization.

  • Buyer
    BV Investment Partners
    Target
    Thomas & Company

    BV Investment Partners announced that it has made an investment in Thomas & Company, a workforce compliance platform headquartered in Nashville. BV will partner with CEO Nate Kenney and the Thomas & Company leadership team to support the company’s next phase of growth, including expanding its client base, deepening its service suite, and pursuing additional acquisitions.

  • Buyer
    Streamside RV Resorts & Campgrounds, Chelly Clayton, Kevin Clayton
    Target
    Little Arrow Outdoor Resort, Little Arrow Base Camp RV Park, River Rat Tubing & Rafting, Burger Master
    Type
    Addon

    Streamside RV Resorts & Campgrounds entered a strategic, long-term investment partnership with Chelly and Kevin Clayton to acquire four outdoor hospitality and tourism businesses in Townsend, Tennessee. The deal adds Little Arrow Outdoor Resort, Little Arrow Base Camp RV Park, River Rat Tubing & Rafting, and Burger Master to Streamside’s growing portfolio.

  • Buyer
    South Dakota Investment Council
    Target
    Louisiana-Pacific Corporation
    Industry
    Manufacturing

    South Dakota Investment Council increased its holdings in Louisiana-Pacific Corporation (LPX) by purchasing an additional 76,165 shares, bringing its total to 97,832 shares. The article describes this as part of broader trading activity by other institutional investors, but does not indicate any corporate M&A transaction like an acquisition or merger.

  • Buyer
    RKD Group
    Target
    Whiteboard
    Type
    Buyout

    RKD Group, a North American fundraising and marketing services firm, announced its acquisition of Whiteboard, an award-winning creative agency. The deal is effective immediately, with Whiteboard continuing to operate under its brand while its co-founders take leadership roles within RKD.

  • Buyer
    HighPoint Exterior Home Services
    Target
    Five Points Roofing Company
    Industry
    Construction
    Type
    Addon

    HighPoint Exterior Home Services partnered with Five Points Roofing Company, a full-service residential roofing contractor headquartered in Franklin, Tennessee. Lake Street Capital Partners backed the HighPoint platform, and Hyde Park Capital served as exclusive investment banker to Five Points.

  • Buyer
    Leap Partners
    Target
    Central Heat & Air
    Type
    Addon

    Leap Partners, a home services operator in the U.S. Southeast, announced the acquisition of Central Heat & Air, a leading HVAC provider in Cleveland, Tennessee. Central Heat & Air will continue operating under its existing brand while its leaders remain in place to guide the next phase of growth.

  • Buyer
    Biscuit Belly
    Target
    Maple Street Biscuit Company
    Seller
    Cracker Barrel (via its subsidiary Maple Street Biscuit Company)
    Type
    Buyout

    Biscuit Belly is acquiring 34–35 locations from Maple Street Biscuit Company, a subsidiary of Cracker Barrel, to accelerate its expansion across the U.S. Southeast and surpass 60 units by end of 2028. Biscuit Belly will convert the acquired locations over the next 18–24 months, beginning with the greater Cincinnati area and Richmond, Virginia, while preserving local teams and community culture.

  • Buyer
    Wolter
    Target
    Delta Materials Handling, Inc.
    Type
    Buyout

    Wolter, backed by Brookfield, acquired Delta Materials Handling in Memphis. Delta Materials Handling provides new and used forklifts, rentals, parts, service, and warehouse solutions.

  • Buyer
    Infinity Hospitality
    Target
    Saint Elle, The Cordelle, Estelle
    Seller
    Nealy Glenn, Chandra Watson, Leigh Watson
    Type
    Buyout

    Nashville-based special events space company Infinity Hospitality acquired the business operations of three event venues: Saint Elle, The Cordelle, and Estelle. Financial terms were not disclosed, and the sellers identified were Nealy Glenn, Chandra Watson, and Leigh Watson.

  • Buyer
    Lyric
    Target
    Concert
    Type
    Buyout

    Lyric, an AI-powered healthcare decision intelligence company, acquired Concert, a precision health payment accuracy firm that converts clinical and administrative policies into machine-readable decision tools. The integration is intended to extend Concert’s policy-to-workflow technology across Lyric42, helping health plans shift from reactive enforcement at disconnected checkpoints to proactive, shared standards before claims are submitted.

  • Buyer
    Summit Professional Education, Avathon Capital
    Target
    Kids Bowel & Bladder (KBB)
    Type
    Addon

    Summit Professional Education acquired Kids Bowel & Bladder (KBB), the leading continuing education platform focused on pediatric pelvic health for physical and occupational therapists. The acquisition is supported by a senior credit facility arranged by Monroe Capital and extends Summit’s pelvic health education platform into the pediatric specialty segment.

  • Buyer
    SpinSci
    Target
    Dialog Health
    Type
    Buyout

    SpinSci announced it acquired Dialog Health, a patient and staff engagement platform providing two-way texting and Rich Communication Services (RCS). The deal expands SpinSci’s AI-powered patient access platform by combining voice access and contact-center automation with Dialog Health’s enterprise-grade communication workflows for healthcare organizations.

  • Buyer
    Spero Health
    Target
    CleanSlate Centers
    Type
    Buyout

    Spero Health acquired CleanSlate Centers, an outpatient medication-assisted treatment provider for opioid and alcohol use disorders. The deal closed on July 1, 2026, with financial terms undisclosed, and was structured so Spero Health would assume CleanSlate’s equity interests in exchange for assuming its debt and paying deal expenses.

  • Buyer
    CMA CGM Group, CEVA Logistics
    Target
    FedEx Supply Chain
    Seller
    FedEx Corp.
    Type
    Buyout

    CMA CGM Group agreed to acquire FedEx Supply Chain, FedEx’s third-party logistics subsidiary, for an enterprise value of $1.4 billion. The deal will be integrated into CMA CGM’s logistics subsidiary, CEVA Logistics, nearly tripling CEVA’s North American contract logistics operations and expanding the combined footprint to about 150 warehouses and ~20,000 employees across 240+ locations.

  • Buyer
    IperionX Limited
    Target
    Camden critical mineral, property, and infrastructure assets
    Type
    Buyout

    IperionX Limited has completed the acquisition of the Camden critical mineral, property, and infrastructure assets in Tennessee, located adjacent to its Titan Critical Minerals Project. The deal adds pre-mined, ultra-high-grade surface heavy-rare-earth-bearing stockpiles and approximately 180 acres of pre-stripped Lower McNairy mineralized areas, alongside turnkey industrial infrastructure.

  • Buyer
    GCG Advisory Partners
    Target
    Head Investment Partners
    Type
    Addon

    GCG Advisory Partners has partnered with Head Investment Partners, a Knoxville, Tennessee-based advisory firm with $180 million in assets under management, which will join GCG’s platform. Head Investment Partners’ leader Daniel Head will join GCG as an Operating and Equity Partner, with the Head team retaining its brand and day-to-day operations. Terms of the transaction were not disclosed.

  • Buyer
    Deluxe
    Target
    Celero Commerce
    Seller
    LLR
    Type
    Buyout

    Deluxe (NYSE: DLX) entered into a definitive agreement to acquire Celero Commerce for $625 million in an all-cash deal, plus certain seller transaction expenses and other adjustments. The acquisition is aimed at accelerating Deluxe’s transformation toward higher-growth Payments and Data segments and modernizing its payments technology infrastructure.

  • Buyer
    Open Road Resorts
    Target
    Raccoon Mountain Campground and Caverns
    Industry
    Real Estate
    Type
    Buyout

    Open Road Resorts (ORR) acquired Raccoon Mountain Campground and Caverns, located near downtown Chattanooga, Tennessee, marking ORR’s entry into the state. The deal adds an RV park/campground with cabins and tent camping, plus direct access to Raccoon Mountain Caverns, to ORR’s growing network of outdoor hospitality properties.

  • Buyer
    Oklo Inc.
    Target
    ARMEC
    Type
    Buyout

    Oklo acquired ARMEC, a precision manufacturing and mechanical engineering firm based in Oak Ridge, Tennessee, to expand Oklo’s in-house engineering and vertically integrated manufacturing capabilities for advanced reactors and nuclear fuel programs. The acquisition closed on June 4, 2026 and is intended to speed design-to-manufacturing feedback, improve control over deployment timelines, and reduce reliance on external suppliers.

  • Buyer
    National HealthCare Corporation
    Target
    Five skilled nursing facilities
    Type
    Buyout

    National HealthCare Corporation (NYSE American: NHC) announced it has closed the $50.5 million purchase of five skilled nursing facilities. The deal gives NHC full ownership of the operations and real estate, transitioning from prior management agreements.

  • Buyer
    Tennessee American Water
    Target
    Tennessee Water Service (water system)
    Industry
    Infrastructure
    Type
    Buyout

    Tennessee American Water completed its acquisition of Tennessee Water Service’s water system on June 1, 2026. The deal adds about 480 customer connections and one employee, strengthening Tennessee American Water’s local service capabilities and customer offerings.

  • Buyer
    GI Partners
    Target
    HES Facilities Management

    GI Partners announced the closing of its majority investment in HES Facilities Management, an outsourced facilities services provider serving education institutions and commercial customers. The investment includes reinvestment from HES’s management team, while GI Partners and management partner to support HES’s next phase of growth.

  • Buyer
    Advantive
    Target
    Insequence
    Industry
    IT Services
    Type
    Buyout

    Advantive, a provider of mission-critical software for specialty manufacturing and distribution businesses, announced its acquisition of Insequence, an automotive sequencing and manufacturing execution system (MES) software provider headquartered in Smyrna, Tennessee. The deal expands Advantive’s MES and plant-floor execution capabilities and supports its Advantive ONE AI platform strategy for connecting plant floor data with AI-driven insights.

  • Buyer
    Goldentree Asset Management
    Target
    Quorum Health
    Seller
    Community Health Systems

    Goldentree Asset Management became the majority owner of Quorum Health in 2024 as the hospital chain emerged from bankruptcy. Quorum announced plans to shift from a private-equity-backed for-profit structure to a nonprofit model managed by QKA Health Corporation (doing business as Healthside Partners), subject to regulatory approval and expected to be finalized in Fall 2026.

  • Buyer
    Orion Legal, Uplift Investors
    Target
    Hughes Coleman Injury Lawyers
    Type
    Addon

    Orion Legal, an MSO backed by Uplift Investors, acquired Hughes Coleman Injury Lawyers, a Tennessee-based personal injury practice with about $50 million in annual revenue. The acquisition adds roughly 40 attorneys and support staff to Orion’s platform and represents Orion’s first significant entry into the Tennessee market.

  • Buyer
    FortyAU
    Target
    Ronin Consulting
    Type
    Addon

    FortyAU, a Nashville-based digital engineering and AI solutions firm, announced its acquisition of Ronin Consulting, a Nashville software engineering and AI development firm focused on enterprise clients in healthcare, financial services, and defense. The companies said the combination expands FortyAU’s AI and data capabilities, engineering talent, and account management discipline; financial terms were not disclosed.

  • Buyer
    North American Rail Solutions, American Track
    Target
    Queen City Railroad Construction (QCRC)
    Seller
    Queen City Railroad Construction (QCRC) management (Mark Edmands continues as President), QCRC President Mark Edmands (continues post-sale)
    Industry
    Transportation
    Type
    Addon

    North American Rail Solutions, through its subsidiary American Track, acquired Queen City Railroad Construction (QCRC). QCRC, based in Knoxville, Tennessee, provides rail maintenance and construction services and will be integrated into American Track’s rail construction group to expand capabilities and geographic reach.

  • Target
    FedEx Freight Holding Company
    Seller
    FedEx shareholders (receiving the distribution of FedEx Freight shares)
    Industry
    Transportation

    FedEx approved the separation of its freight business, paving the way for FedEx Freight to operate as an independent publicly traded company on June 1, 2026. The transaction is structured as a pro rata dividend distribution of 80.1% of FedEx Freight Holding Company shares to FedEx shareholders, with FedEx retaining about 19.9% to be disposed of within 24 months.

  • Buyer
    Southeast Building Supply Interests
    Target
    Builders Supply Co. of Tennessee
    Seller
    Bubba Ingleburger, Carl Dixon
    Type
    Addon

    Southeast Building Supply Interests (SBSI) acquired Builders Supply Co. of Tennessee, adding three Middle Tennessee locations and expanding SBSI’s footprint in the state. The deal expands SBSI’s lumber and building materials distribution network serving builders and professional contractors across the Southeast, with the sellers (Bubba Ingleburger and Carl Dixon) staying on in advisory roles to support ongoing operations.

  • Buyer
    GI Partners
    Target
    Rose BioSolutions, Charles River Laboratories International, Inc. - CDMO and Cell Solutions businesses
    Seller
    Charles River Laboratories International, Inc.
    Type
    Buyout

    GI Partners completed its acquisition of the Contract Development and Manufacturing Organization (CDMO) and Cell Solutions businesses from Charles River Laboratories, creating an independent advanced therapy manufacturing company, Rose BioSolutions. Rose BioSolutions will provide end-to-end cell and gene therapy development and manufacturing, covering plasmid DNA, viral vectors, cell therapy production, and cellular starting materials.

  • Buyer
    Colorado Premium, Kainos Capital
    Target
    Old Hickory Smokehouse
    Seller
    Wayne Wolf, Wayne Wolf and his sons Wayne and Brandon Wolf (founders/operators; continue with business)
    Industry
    Food & Beverage
    Type
    Addon

    Colorado Premium acquired Old Hickory Smokehouse, a founder-owned Tennessee producer of smoked and cooked protein products. The deal expands Colorado Premium’s value-added protein platform beyond its sous vide cooking capabilities by adding naturally smoked proteins, along with additional investment in the Lewisburg production facility.

  • Buyer
    Engineering Resource Group, Inc., Godspeed Capital Management LP
    Target
    Haltom Engineering, LLC
    Industry
    IT Services
    Type
    Addon

    Engineering Resource Group (ERG), backed by Godspeed Capital, acquired Haltom Engineering, a Memphis-based MEP engineering consulting firm. The deal is ERG’s first add-on acquisition, expanding ERG’s geographic reach across the Southern United States and adding technical depth in mechanical, plumbing, and fire protection design with net-zero expertise.

  • Buyer
    Bertelsmann, Great Mountain Partners, Apollo-managed funds and affiliates
    Target
    BMG, Concord
    Type
    Buyout

    BMG and Concord announced a definitive agreement to combine their businesses into the world’s leading independent music company, operating under the BMG name with two divisions: BMG Publishing and Concord Records. The combined company will be headquartered in Nashville with a European headquarters in Berlin, and is expected to close in the second half of 2026, subject to regulatory approvals.

  • Buyer
    Apotex, Apotex Health Corp.
    Target
    Cumberland Pharmaceuticals Inc.
    Seller
    Cumberland Pharmaceuticals Inc.
    Industry
    Pharmaceuticals

    Apotex entered into an agreement with Cumberland Pharmaceuticals to integrate Cumberland’s U.S. branded pharmaceutical business into Apotex. Under the terms, Apotex will acquire Cumberland’s line of branded pharmaceuticals for $100 million in cash, while Cumberland retains its pipeline candidates (including ifetroban) and its majority ownership in Cumberland Emerging Technologies Inc.

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