Acquisitions in Texas in 2021

Capital For Business, Inc. (CFB) and Konza Valley Capital, Inc. (KVCI) have completed an acquisition/investment in A&A Machine & Fabrication, LLC, a La Marque, Texas-based manufacturer of high-pressure tubular reactors, coolers and related fabrication and service solutions for the petrochemical and plastics industries. The founders/owners will remain involved in the business while transitioning management over time; the transaction is intended to support A&A's growth, global expansion and employee continuity.

ISCO Industries, a Louisville-based total piping solutions provider, acquired the majority of the U.S. manufacturing operations of Industrial Pipe Fittings LLC d/b/a Plasson USA from parent company Plasson Ltd. The transaction, a divestiture led by GulfStar Group as advisor to Plasson, closed on December 31, 2021 and expands ISCO's HDPE fittings and fabrication capabilities across North America.

Associates International (Ai) made a minority investment in Global Research Group, Inc. (dba Prospect Direct), a Dallas-based lead generation company; the transaction closed on December 28, 2021. The investment provides Prospect Direct with capital and a strategic partner to support growth and expand its marketing implementation and lead-generation capabilities.

Omnicell, Inc. acquired pharmacy software and patient engagement provider MarkeTouch Media, LLC for $82 million in cash. The deal expands Omnicell’s EnlivenHealth footprint in the retail and specialty pharmacy markets and adds MarkeTouch’s mobile/web-based SaaS patient engagement capabilities to accelerate Omnicell’s SaaS roadmap.

Vervint (formerly Open Systems Technologies/OST) acquired Texas-based cloud service provider Stratum Technology on December 31, 2021. The purchase expands Vervint’s cloud professional services and Azure/AWS managed services capabilities, adding Stratum’s architects, engineers and healthcare cloud (Epic) expertise to Vervint’s offerings.

TXE Capital, a Houston-based investor focused on testing, inspection and calibration (TIC) businesses, acquired Envirodyne Laboratories, a NELAP-accredited environmental testing laboratory in Houston. The transaction closed on December 31, 2021 and was advised by Generational Equity; owners Tanny Busby and Laura Bonjonia sold the business to TXE.

Booking Holdings Inc. completed its acquisition of Getaroom from Court Square Capital Partners for approximately $1.2 billion, folding the business into Priceline to form a new Strategic Partnerships unit. Getaroom will remain headquartered in Dallas and CEO Matt Davis will lead Priceline's Strategic Partnerships business unit.

XLerate Group, backed by Brightstar Capital Partners, has completed the acquisition of America's Auto Auction (AAA) and affiliated financier Auction Credit Enterprises (ACE) from Trinity Hunt Partners and its co-investors. The deal, closed December 30, 2021 for undisclosed terms, combines physical and digital remarketing capabilities and financing services to create a larger nationwide vehicle remarketing platform operating across roughly 39 auction sites in 19 states.

Omnicell, Inc. completed the acquisition of ReCept Holdings, Inc. for $100 million in cash, adding ReCept's specialty pharmacy management and 340B administration services to Omnicell's Advanced Services portfolio. The ReCept business had approximately $24 million of annual recurring revenue (12 months ended Sept. 30, 2021) and the deal is expected to be accretive to Omnicell's non-GAAP EBITDA beginning in Q1 2023.

Starwood Capital Group, through a controlled affiliate, acquired a majority interest in the assets owned by Land Tejas, a Houston-based residential master-planned community developer. The transaction includes 10 communities with nearly 16,000 residential lots and various commercial assets; the deal provides liquidity to Land Tejas' owners while enabling Starwood to expand its single-family housing portfolio.

Golden Bear Physical Therapy, a portfolio company of Shore Capital Partners, acquired Cleburne Physical Therapy & Sports Rehabilitation (dba Real Performance Physical Therapy) in a deal that closed December 28, 2021. The acquisition adds the Cleburne and Burleson, Texas outpatient clinics to Golden Bear's growing network of rehabilitation and physical therapy practices.

Integrated Power Services (IPS) acquired National Switchgear and National Field Services, a Lewisville, Texas-based provider of power distribution equipment, field services, remanufacturing and technical training. The deal expands IPS’s power management capabilities, service coverage and distribution footprint across North America and brings National’s five locations and accredited field technicians into IPS’s network.

Bowman Consulting Group Ltd. (NASDAQ: BWMN) entered into a definitive agreement to acquire Terra Associates, Inc., a Houston- and San Antonio-based civil engineering and surveying firm, with closing scheduled for December 31, 2021. The acquisition, financed with cash, seller financing and stock, is expected to be immediately accretive and to contribute approximately $5.5 million of annualized net service billing while expanding Bowman’s Texas operations and service capabilities.

Embrace Software has acquired Radiant RFID, an industrial IoT and asset-tracking solutions provider, and welcomed 35+ Radiant team members to Team Embrace. Radiant will continue to operate independently while Embrace has invested $1M of growth capital to support product and commercial expansion of Radiant's cloud-based IoT platform.

Freeman Spogli & Co. has partnered with WhiteWater Express Car Wash, acquiring a stake in the Houston-based express car wash platform; terms were not disclosed. WhiteWater’s founders (Steve Mathis, Clayton Clark, Shane Wilson) and investor SkyKnight Capital will remain significant investors and the existing management team will continue to lead as the company pursues further multi-regional expansion and densification of markets.

Bowman Consulting Group Ltd. (NASDAQ: BWMN) acquired 1519 Surveying, LLC, a Waco, Texas–based surveying, geomatics and civil engineering firm with offices in Waco and Fort Worth. The deal, funded with cash, seller financing and stock, adds roughly 35 professionals and is expected to be immediately accretive—initially contributing more than $5.5 million of annualized net service billing—while expanding Bowman’s Texas surveying, infrastructure and renewable energy capabilities.

Atlantic Street Capital completed a majority recapitalization to acquire a controlling stake in ACIS (Air Conditioning Innovative Solutions), a leading commercial facility services and HVAC provider in Texas. Caltius Equity Partners, ACIS' prior institutional investor, will remain an investor and on the board while Atlantic Street will support growth initiatives including salesforce investment, data-driven operations, geographic expansion and add-on M&A.

Baton Rouge-based managed services provider General Informatics has acquired Unicom Technologies, a Texas-based MSP focused on banking, credit union and financial-services customers. The acquisition, advised by FOCUS Investment Banking and backed by Rosewood Private Investments, expands General Informatics' geographic footprint in Texas and strengthens its financial-services vertical capabilities.

Avanti Equine Veterinary Partners acquired Irving, Texas–based Animal Imaging on December 22, 2021, marking Avanti's first location in Texas. The equine practice network also acquired California-based Steinbeck Peninsula Equine Clinic as part of its national expansion to provide management and operational and administrative support to partner practices.

Howden has completed its acquisition of Compressor Products International (CPI), a Houston-based provider of aftermarket components and services for reciprocating compressors. The deal expands Howden's global aftermarket capabilities and service coverage across North America and Europe and adds complementary valve and aftermarket product technology to its compressor portfolio.

On December 21, 2021, Oracle announced it entered into an agreement to acquire Federos. The acquisition brings Federos' AI-optimized Assure1 assurance, analytics, and automation platform into Oracle Communications to expand Oracle's network and service assurance capabilities for communications service providers and enterprises (including 5G use cases).

SJW Group’s Texas subsidiary SJWTX Inc. (dba Canyon Lake Water Service Company) has closed the acquisition of the Kendall West and Bandera East water/wastewater utilities in Kendall, Bandera and Medina counties, Texas. The two utilities add more than 1,600 service connections (serving ~4,000 people) and expand SJWTX's footprint in a rapidly growing region as part of continued scale and infrastructure investment in its Texas operations.

Wipro Limited has signed an agreement to acquire Austin-headquartered Edgile, a cybersecurity consulting firm focused on risk and compliance, cloud security and digital identity. The acquisition will help Wipro launch "Wipro CyberTransform" to expand its strategic cybersecurity consulting capabilities; minority investor Abry Partners will fully exit its investment.

Athene Holding Ltd. has entered into a definitive agreement to acquire Petros PACE Finance, a U.S. originator of Commercial Property Assessed Clean Energy (C-PACE) financing. The investment will be managed by Apollo, and Petros' co‑founders will remain with the business and retain a minority stake as the company scales its C‑PACE origination platform.

Main Street Capital Corporation completed a $24.8 million follow-on first-lien, senior secured term debt investment in portfolio company Cody Pools, Inc. to support Cody’s acquisition of a Phoenix, Arizona-based pool builder. Cody Pools, headquartered in Georgetown, Texas, operates in Texas and Florida and said the acquisition expands its national presence into Arizona.

GSM Outdoors has acquired SOG (SOG Specialty Knives & Tools) in a deal announced via GSM's social channels. The acquisition expands GSM's portfolio of outdoor and hunting brands and is positioned as a strategic add-on to the company's knife and accessories offering; details on staff and operations post-closing were not disclosed.

Funds managed by Blackstone Growth (BXG) have acquired a majority stake in Supergoop!, the SPF-focused skincare brand founded by Holly Thaggard. Founder Holly Thaggard, CEO Amanda Baldwin and existing management will retain significant equity while prior investor Encore Consumer Capital and several other investors will continue to support the business; the investment is intended to fuel product innovation, brand marketing and national and international expansion. Terms were not disclosed.

FirstCash Holdings, Inc. has completed its acquisition of American First Finance (AFF), adding AFF as a wholly owned subsidiary and establishing FirstCash's entry into the lease-to-own and point-of-sale payment space. AFF brings a nationwide network of over 6,500 merchant partner locations and technology for "no credit required" retail financing; Doug Rippel, AFF's founder and former chairman, joined the FirstCash Board following the close.

ProTitleUSA has acquired DocSolution, Inc., a Pasadena, Texas–based document preparation and recording firm, which will operate as DocSolutionUSA, LLC dba DocSolution Inc. The acquisition brings DocSolution's mortgage document preparation, HUD Claim-22 assignment workflow and curative services into ProTitleUSA's title search and analytics platform to extend integrated search and doc-prep products into capital markets.

Arsenal Capital Partners’ industrial coatings platform, Seal For Life Industries, acquired two specialty coatings businesses—Mascoat Ltd. and Verdia, Inc.—to expand its global product offering in thermal insulation, anti-condensation, sound damping and polymer flooring systems. Both targets are privately held U.S. manufacturers based in Texas and will be integrated into the Seal For Life platform to broaden capabilities and market reach.

Gemspring Capital (via an affiliate) has acquired a majority interest in Mantis Innovation Group from O2 Investment Partners. Mantis, a Houston-based tech-enabled facility services provider focused on energy efficiency and building performance, will partner with Gemspring to accelerate platform growth, expand services, and pursue additional M&A.

Investcorp has acquired RESA Power, a Houston-based provider of maintenance, testing, systems integration and distribution services for power distribution equipment, from Blue Sea Capital. RESA operates 20+ locations across the United States and Canada and serves over 6,000 customers; Investcorp intends to support organic growth, geographic expansion across North America and accelerate strategic add-on acquisitions.

Main Street Capital Corporation completed a $14.6 million growth capital investment and minority recapitalization in Johnson Downie, LLC, a Houston-based provider of lateral partner placements and retained partner-level recruiting services for law firms across Texas. The financing comprised first-lien senior secured term debt and a direct minority equity investment; Main Street partnered with an unnamed co-investor and the Company's existing owner/management team to facilitate the transaction.

OCI Holdings, LLC dba Care Options for Kids (an Ancor Capital Partners-backed pediatric therapy platform) acquired The Missing Peace Autism Therapy Center, LLC, a Keller, Texas–based ABA clinic, effective October 1, 2021. The transaction brings TMP's clinic-based Applied Behavior Analysis services into COFK's pediatric therapy network; TMP founders Beth Worman and Megan Haupert will remain in leadership roles.

Trimble (NASDAQ: TRMB) has acquired AgileAssets, a Austin, Texas–based provider of SaaS infrastructure asset management software used by government and transportation agencies. The acquisition expands Trimble's civil infrastructure portfolio by adding AgileAssets' asset lifecycle management, analytics and digital twin integration capabilities; financial terms were not disclosed.

ASSA ABLOY has acquired B&B Roadway and Security Solutions, a U.S.-based manufacturer of roadway safety, traffic control and perimeter security products. The acquisition (B&B: ~60 employees; 2020 sales ~USD 14m) strengthens ASSA ABLOY's perimeter security capabilities and geographic coverage in the United States.

TELEO Capital-backed UMT360 has acquired FIOS Insight, a Houston-based provider of Enterprise Architecture (EA) SaaS (Insight-EA), and will merge FIOS with UMT360 to extend UMT360's Strategic Portfolio Management suite. The acquisition integrates FIOS' EA capabilities into UMT360's strategy-to-execution and project portfolio management offering to provide an end-to-end enterprise project solution.

Fix-It 24/7, a New Harbor Capital portfolio company, has completed the acquisition of On Time Experts to expand the platform into the Dallas–Fort Worth market. The acquisition is an add-on in Fix-It's multi-branch operating strategy; On Time Experts is a 50+ employee HVAC and plumbing services provider founded in Dallas in 1965, whose owner Randy Kelley will transition the business and employees to Fix-It.

Cook & Boardman Group LLC, a Littlejohn & Co.-backed specialty distributor and security integrator, has acquired San Antonio-based 3Sixty Integrated. The add-on expands Cook & Boardman's nationwide security integration capabilities; 3Sixty's CEO Will Duke will continue to lead the business and it will operate under the 3Sixty name.

Oklahoma City-based Kimray Inc. has acquired Texas-based distributor Control Equipment Inc. (CEI). The deal integrates Kimray's manufacturing and production capabilities with CEI's regional distribution network across the Permian Basin, southeast New Mexico, north Texas and the Texas Panhandle; financial terms were not disclosed.

Los Angeles-based private equity firm Vance Street Capital has partnered with Polara Enterprises LLC, a Greenville, Texas-based maker of accessible pedestrian signals and pedestrian safety products. The McGaffey family rolled a significant ownership stake and will remain in management while Vance Street will support product innovation, IoT/connectivity initiatives and pursue complementary M&A; debt financing was provided by Barings' Global Private Credit.

The Riverside Company has signed a definitive agreement to invest in iCEV, a Lubbock, Texas–based developer of SaaS-based digital curriculum, instructional materials and certification testing for the Career and Technical Education (CTE) market. Riverside said it will leverage its Education & Training platform to expand iCEV's content and capabilities through organic growth and M&A initiatives.

Valicor Environmental Services, a portfolio company of Pritzker Private Capital, has acquired ASI Environmental Services, a non-hazardous wastewater treatment provider based in Texarkana, Texas. The add-on expands Valicor’s centralized wastewater treatment and transfer facility footprint in Texas and establishes a presence in Arkansas.

Silver Lake has led a $1.2 billion strategic minority investment in Integrity Marketing Group to accelerate the development of Integrity's omnichannel insurtech platform. Silver Lake will take a board seat and collaborate with Integrity's leadership to expand technology, data and distribution capabilities while Integrity's founders, management and employees remain majority shareholders; Harvest Partners and HGGC will remain significant investors.

ClockSpring|NRI, a portfolio company of Wind Point Partners, has acquired the Fyfe North America and Fyfe Europe business from Aegion Corporation. The deal adds Fyfe's patented fiber-reinforced polymer (FRP) systems and Tyfo solutions to ClockSpring|NRI's critical infrastructure portfolio to expand capabilities in civil/structural strengthening and water transmission pipeline rehabilitation.

Trystar, a Goldner Hawn portfolio company, has acquired Total Plant Management Group (TPMG), a Houston-based designer and manufacturer of prefabricated steel buildings, control panels, metering skids, and modular electrical substations. The deal expands Trystar's power-system offerings by adding turnkey engineering, fabrication, integration, testing and commissioning capabilities for E-houses and remote instrument enclosures.

Elan Growth Partners has made a growth equity investment in Simply NUC, a Round Rock, Texas-based OEM of custom-configured mini computers, with the deal closing on December 8, 2021. The investment will support Simply NUC's global expansion and continued development of its mini PC manufacturing, configuration and project services.

Professional Datasolutions, Inc. (PDI) has acquired Koupon, a digital promotions provider that helps CPG brands and convenience retailers deploy targeted offers. The deal expands PDI's Offer Network scale and capabilities—adding Koupon's experience delivering billions of offers and strengthening PDI's shopper engagement and age-verification functionality for age-restricted brands.

Hub International Limited acquired Cameron Investment Company, Inc., d/b/a Shepard Walton King Insurance Group, a McAllen, Texas-based insurance agency. The acquisition expands Hub's Texas footprint and strengthens its specialty insurance capabilities across agribusiness, real estate and education lines; terms were not disclosed.

Houston-based brand experience firm BrandExtract has integrated Axiom, a 24-year branding and digital strategy agency, bringing the combined team to nearly 50 employees. The move expands BrandExtract’s capabilities in digital strategy, HubSpot, WordPress, animation/video production and deepens its B2B and B2C client offerings.