Acquisitions in Texas in 2020

Lithko Contracting, together with equity partners The Pritzker Organization and DNS Capital, acquired the assets of Capitol Concrete Contractors, Inc. on December 31, 2020. The asset purchase expands Lithko’s presence in the Austin / Central Texas market; Capitol is a regional concrete contractor with over 300 coworkers specializing in foundations, tilt-walls, slabs and site work.

Clearlake Capital Group has completed the acquisition of PriSo Holding Corporation (PrimeSource) from Platinum Equity. PrimeSource is a global distributor of specialty building materials with 34 U.S. distribution centers and over 1,100 employees; Clearlake intends to use the business as a platform for organic growth and add-on acquisitions in the specialty distribution sector.

Fluid Power Holdings, Inc. (FPH), a portfolio company of JMH Capital Partners, has acquired Wilco Supply, LLC, a Houston-based independent distributor of hydraulic and industrial hoses, fittings, and fabrication services. The acquisition expands FPH’s geographic presence in the Houston market and broadens its product, service and technical capabilities to better serve industrial customers.

Tecta America Corporation, a portfolio company of Altas Partners, acquired J Reynolds & Co., Inc., a commercial roofing and waterproofing contractor based in Saginaw, Texas; the transaction closed on December 31, 2020. Kratos Capital advised J Reynolds on the sale as J Reynolds becomes part of Tecta’s national platform to expand its commercial roofing and waterproofing capabilities and geographic reach.

ESP Associates, a Strength Capital Partners platform company, has acquired Vickrey & Associates, a civil engineering, surveying and planning firm headquartered in San Antonio, Texas. The add-on expands ESP's service capabilities and geographic footprint in the rapidly growing Texas market.

Arbor Contract Carpet has acquired Carpeturn.com, a web-based multifamily flooring provider with operations in the Southwest. The deal expands Arbor's geographic footprint into additional Southwestern markets and brings Carpeturn's web-based operating system and scheduling platform into Arbor's service offering.

Manna Pro Products, a St. Louis-based manufacturer and marketer of pet care and nutrition owned by investment vehicles managed by The Carlyle Group, has acquired Bullymake, a direct-to-consumer subscription box for heavy-chewing dogs. The acquisition expands Manna Pro’s direct-to-consumer and omnichannel presence, adding Bullymake’s roughly 1 million annual boxes and subscription capabilities to its portfolio.

Command Alkon, a supplier collaboration platform for heavy construction, has acquired Ruckit, Inc., a trucking management and digital ticketing software provider based in Austin, Texas. The acquisition integrates Ruckit's e-ticketing, invoice reconciliation and third‑party hauler management capabilities into Command Alkon's CONNEX platform to improve visibility and efficiency across construction materials transportation and logistics.

eClerx Services Limited acquired Eclipse Global Holdings LLC ("Personiv"), an Austin-based business process management and outsourced accounting provider. The acquisition, which closed on December 23, 2020 and was funded with cash on hand, adds over 2,000 employees and three delivery centers, expanding eClerx's finance & accounting, digital, and customer operations capabilities and broadening its delivery footprint in India and the Philippines.

EyeSouth Partners, the Atlanta-based eye care management services organization backed by Shore Capital Partners, has completed an affiliation with Eye Center of Texas, a Houston-area ophthalmology practice with six clinical locations and 14 providers. The affiliation is an add-on to EyeSouth’s platform network to provide administrative, operational and management support and to accelerate growth and geographic expansion in Greater Houston.

WhiteWater Express Car Wash, a Houston-based express car wash platform, acquired Jerry's Express Car Wash’s seven Dallas–Fort Worth locations, expanding WhiteWater’s DFW footprint to 16 sites and increasing its total locations to 29. In connection with the deal, private equity firm SkyKnight Capital invested incremental capital into WhiteWater to support accelerated growth.

Global consulting firm Protiviti has acquired Identropy, an Austin-based identity and access management (IAM) specialist, to bolster its Security and Privacy practice and Digital Identity as a Service offering. The addition of Identropy's advisory, implementation and managed-services expertise (and its team of IAM specialists) expands Protiviti's capabilities to help enterprise clients address identity-centric security challenges.

Moog Inc. has acquired Genesys Aerosystems from McNally Capital and the Genesys management team. Genesys, a developer and manufacturer of integrated avionics systems (flight displays, radios, autopilots, sensors), will expand Moog's avionics and aircraft systems capabilities as part of Moog's precision control and systems portfolio.

Freestone Partners, a Houston-based private equity firm, acquired the assets of Warfab Industries, Inc. in partnership with Warfab management. Warfab, headquartered in Hallsville, Texas, provides heavy industrial repair, maintenance, fabrication and machining services serving mining, heavy steel, railcar and energy customers across multiple countries; the deal is intended to expand Warfab’s product offerings and geographic reach.

Linx Partners, through Linx Fund II with co-investors and affiliates, has sold its securities in Metaltech Service Center, Inc. The buyer was not disclosed; the transaction provides a realization for Linx Partners' investors. Metaltech is a Houston-based value-added metal distributor and processor serving over 1,500 customers in the Gulf Coast region.

Apara Autism Centers, a Texas-based ABA therapy platform and portfolio company of Havencrest Capital Management, has acquired Behavior Pioneers, a Dallas-based provider of clinic- and home-based Applied Behavior Analysis (ABA) services. The transaction expands Apara’s footprint and clinical capacity in Texas and aligns with Havencrest’s strategy of growing healthcare-focused platforms through add-on acquisitions.

Aceable, an Austin-based mobile-first education platform, closed a $50 million growth investment led by private equity firm HGGC. The capital will support Aceable’s expansion into new certification verticals, continued geographic rollout, and both organic and inorganic growth initiatives.

Funds managed by Blackstone, led by Blackstone Growth (BXG), have made a significant minority investment in ISN (ISNetworld) at a valuation of over $2 billion. The capital will be used to support product innovation and expansion into new markets and geographies, with Blackstone becoming ISN's only outside stockholder while ISN remains employee-owned.

AEGIS Hedging Solutions has acquired Risked Revenue Energy Associates (R^2), a specialty commodity trading advisor focused on energy hedging and patented analytics. The acquisition expands AEGIS' analytics and advisory capabilities, integrating R^2's team and intellectual property into AEGIS' SaaS and advisory platform to better serve energy-sector clients.

NMS Capital has partnered with Strive Medical's management on a recapitalization of Strive Medical, a direct-to-patient provider of urological and wound care supplies headquartered in Irving, Texas. Terms were not disclosed; NMS said the investment will be used to expand market penetration, geographic coverage and the company's product offering while management remains in place.

Whole Earth Brands, Inc. agreed to acquire all outstanding stock of WSO Investments, the holding company for Wholesome Sweeteners, for $180 million in cash plus up to $55 million in earnouts. The acquisition, expected to close in Q1 2021 subject to customary antitrust review, expands Whole Earth Brands' portfolio in organic and natural sweeteners and is expected to be immediately accretive to earnings.

Spectrum Automotive Holdings Corp., a Cornell Capital-backed automotive F&I platform, acquired CalTex Protective Coatings, the largest U.S. manufacturer and provider of automotive appearance protection products. The acquisition will allow Spectrum to invest behind CalTex's brand, products and management to accelerate growth and expand its dealer distribution and F&I product suite. Terms were not disclosed; Colonnade Advisors served as financial advisor to CalTex and Houlihan Lokey advised Spectrum.

TA Associates has completed an investment in Mid America Pet Food, the manufacturer of VICTOR Super Premium Pet Food, with Rx3 Growth Partners joining as a co-investor. TA and Rx3 acquired their stakes from Trinity Hunt Partners; financial terms were not disclosed. Mid America Pet Food manufactures kibble in-house at its Mount Pleasant, Texas facility and sells primarily through farm & feed and independent pet stores as well as select online retailers.

EQT Private Equity has made a majority investment in Storable, a leading software and technology provider for the self-storage industry; Cove Hill Partners and management will retain a minority stake. The investment will support Storable’s scaling through product innovation and commercial expansion; Storable is headquartered in Austin, Texas and has ~440 employees.

Traject, the marketing-technology suite backed by ASG (and ultimately Alpine Investors), has acquired PLANOLY, a visual social media planning, scheduling and analytics platform headquartered in Austin, Texas. PLANOLY's founders will remain for a transition period and the business will join Traject's MarTech portfolio as an add-on to expand Traject's social media capabilities.

Elemica has acquired ProcessWeaver, a multi-carrier parcel TMS provider, and will integrate its parcel shipment execution and carrier-compliance features into Elemica’s Digital Supply Chain Network and Eyefreight TMS. The acquisition gives Elemica clients access to ProcessWeaver’s carrier network and ERP integrations, expanding Elemica’s transportation management capabilities to cover parcel, LTL and multi-modal shipments.

Intelerad Medical Systems, a Montreal-based medical imaging software provider backed by Hg, has acquired Digisonics, Inc., a Houston-based provider of cardiovascular and obstetrics/gynecology information and structured reporting systems. The acquisition will integrate Digisonics' reporting and clinical interpretation capabilities into Intelerad's enterprise imaging platform to eliminate silos, improve physician workflow efficiency, and strengthen Intelerad's hospital and health system offering.

Lexitas, a Houston-based legal support services provider and portfolio company of funds advised by Apax Partners, has acquired Steven H. Gentry & Associates, a court reporting firm based in Mesquite, Texas. The add-on expands Lexitas' coverage in the Dallas–Fort Worth market and brings additional court-reporting and remote-deposition capabilities into its national network.

3 Rivers Capital’s portfolio company Amazing Care Home Health Services has acquired Lakeway Home Health, a Temple, Texas-based pediatric and skilled home health provider. The deal expands Amazing Care’s pediatric PDN footprint beyond the Denver/Aurora region into Central Texas; Arthur Lowry will lead the combined company.

Stakeholder Midstream, LLC acquired gas gathering and processing assets from Santa Fe Midstream, LLC in Yoakum County, Texas, including the 30-30 Gas Treating and Processing Plant, gathering pipelines, residue and NGL lines, and a long-term acreage dedication. The deal increases combined gas processing capacity to ~85 MMcf/d, expands total gathering pipeline mileage to ~450 miles and acreage dedications to over 200,000 acres, complementing Stakeholder's existing Campo Viejo system and expanding its capabilities in the San Andres play.

In-Situ Inc., a Fort Collins-based designer and manufacturer of water monitoring instrumentation, has acquired Ajax Environmental & Safety Supply, a Houston-based environmental equipment rental and supply business. The deal adds Ajax’s Texas rental footprint and customer relationships to In-Situ’s rental capabilities, enhancing service and equipment availability in Texas and nationwide.

Caltius Equity Partners portfolio company Air Conditioning Innovative Solutions (ACIS) has acquired H.V.A.C. Team Mechanical Services (Team Services), expanding ACIS's geographic footprint into the Austin, Texas MSA. The acquisition adds Team Services' HVAC maintenance and service capabilities to the ACIS platform and enables the introduction of plumbing services to Team Services' customers.

Novolex has acquired the business of B&H Bag Company and will integrate it into its Novolex Duro Bag operations to increase production capacity and strengthen customer service. B&H, a family-owned paper bag manufacturer with a plant in Brookshire (near Houston), Texas, supplies the foodservice and grocery markets; Novolex is PE-backed by The Carlyle Group.

Blue Sea Capital has made a substantial growth investment to form Beacon Oral Specialists, a management services organization that will support Atlanta Oral & Facial Surgery (AOFS) and Bay Area Oral Surgery Management (BAOSM). The affiliation creates a national oral surgery platform spanning roughly 37 clinic locations and nearly 40 oral surgeons, enabling the surgeon-led practices to retain clinical roles while receiving centralized administrative, billing, IT and marketing support to accelerate growth.

Ergomed plc has acquired MS Clinical Services, LLC (MedSource), a Houston-based full-service CRO specializing in oncology and rare disease, for an initial $16.2 million in cash plus potential shares and contingent consideration. The acquisition expands Ergomed's US footprint (adding ~110 US employees and offices in Houston, Raleigh and Boston), strengthens its specialist clinical research capabilities and is expected to be immediately accretive.

Olympic Steel Inc. (Nasdaq: ZEUS) has acquired the assets of Action Stainless & Alloys, a full-line distributor and processor of stainless steel and aluminum based near Dallas, Texas. The all-cash transaction expands Olympic Steel's specialty metals footprint and adds product and processing capabilities; terms were not disclosed.

Virtuous, a responsive fundraising platform for nonprofits, has acquired RaiseDonors, a Dallas-based online fundraising platform. The deal expands Virtuous's online giving capabilities — including embeddable forms, customized landing pages and text-to-give — to deliver more personalized, multi-channel fundraising experiences for nonprofit customers.

Varsity Healthcare Partners-backed DuvaSawko has merged with abeo Management Corporation, combining two leading revenue cycle management (RCM) providers serving emergency medicine and anesthesia practices. Parthenon Capital exited its investment in abeo as part of the transaction; management of both companies will remain meaningfully invested and Michael O'Boyle will serve as CEO of the combined business.

CarGurus agreed to acquire a 51% majority interest in CarOffer, an instant vehicle trade platform, at an enterprise valuation of $275 million. The strategic acquisition adds wholesale trading and logistics capabilities to CarGurus' dealer platform, enabling a seamless retail and wholesale solution for dealers.

Calgary-based geoLOGIC systems ltd. has acquired SubsurfaceIO (SSIO), a Houston-based provider of cloud-native, data-agnostic mapping and analytics solutions for the oil & gas sector. The acquisition brings SSIO's OSDU-compatible SaaS platform and U.S. subsurface data expertise into geoLOGIC's surface and subsurface data and analytics portfolio to accelerate product functionality and digital capabilities for upstream customers.

Freeman Spogli & Co. has partnered with Houston-based US Med-Equip, a provider and rental distributor of movable medical equipment, to acquire a controlling interest in the company. Affiliates of Owner Resource Group will retain an ownership stake; the investment will support USME's national expansion across its network of more than 40 locations and 1,600 hospital customers.

Houston-based accounting firm Calvetti Ferguson LLC announced it will acquire Fort Worth-based Mark M. Jones & Associates, RLLP. The deal adds two partners and four staff to Calvetti Ferguson, expanding its Fort Worth presence and broadening client services in tax, assurance, and accounting for private businesses and high-net-worth individuals.

Gordon Technologies LLC, a Pelican Energy Partners–backed provider of measurement-while-drilling (MWD) and vibration-mitigation tools, has acquired Lodestar International, LLC and its wholly owned subsidiary MaxWell Downhole Technology Limited. The deal adds Lodestar's downhole dynamics-while-drilling (DWD) measurement tools and international R&D/service capabilities to Gordon's existing product portfolio as an add-on to expand capabilities and product offerings.

Epiphany Dermatology announced a partnership with Mesquite | DeSoto Dermatology, bringing the two-location practice and its provider team into Epiphany's network to expand access to dermatologic care in the Dallas–Fort Worth area. The Mesquite | DeSoto team will gain Epiphany's operational resources (HR, IT, compliance, marketing, managed care) while Epiphany benefits from the practice's clinical expertise, including medical, surgical, cosmetic and Mohs services.

Tejas Investment Partners, a Texas-based private investment firm, has acquired Rent Equip, LLC, an Austin-headquartered construction equipment rental, sales and service company. The transaction closed September 30, 2020; Tejas said it will partner with Rent Equip's management to accelerate growth across Texas.

Dallas-based private equity firm Crossplane Capital has completed a control acquisition of Griffin Dewatering, a Houston-headquartered provider of dewatering and water treatment services for large-scale construction, infrastructure and industrial projects. Griffin, founded in 1934 and operating from 11 locations nationwide, will partner with Crossplane to expand its complex dewatering, water treatment capabilities and national water-management platform; the company was previously a portfolio company of The CapStreet Group.

ADT Commercial acquired CLS Technology, Inc., a Katy, Texas-based security and fire-life-safety integrator, in a deal that closed on December 2, 2020. The acquisition expands ADT Commercial's commercial integration footprint and deepens its fire and life-safety capabilities in the Houston market; financial terms were not disclosed.

Edgewater Growth Capital Partners IV’s portfolio company Rensa Filtration has acquired Air Filters, Inc., a Houston-based manufacturer of pleated and HEPA air filtration products. The deal is an add-on acquisition intended to expand Rensa’s product portfolio and capabilities in commercial and industrial HVAC and critical-environment filtration.

Landpoint Holdings, a Cotton Creek Capital–backed geospatial services platform, acquired Austin-based RJ Surveying & Associates, LLC and Randall Jones & Associates Engineering, LLC (collectively “RJES”). The add-on expands Landpoint’s footprint to ten Texas locations and broadens its civil surveying and engineering capabilities in the Austin/Round Rock market.

BrandSafway has acquired the assets of Big City Access, a Houston-based scaffolding and access solutions provider, effective Dec. 1, 2020. The seller was Rock Hill Capital Group, and the deal expands BrandSafway's commercial construction and infrastructure capabilities in Texas; Big City Access has ~160 employees and locations in Houston, Dallas, Austin and San Antonio.