Acquisitions in Texas in 2022

360training has acquired AdvanceOnline Solutions to expand its Environmental, Health & Safety (EHS) online training catalog and add DOT transportation safety courses, including CMV Driver and CMV Motor Carrier Management. The deal broadens 360training's OSHA Online Outreach offerings and complements its existing regulated training brands.

Blue Star Innovation Partners, a growth-focused investment firm, announced a strategic growth investment in Sonar Software, a cloud-based provider of BSS/OSS solutions for Internet Service Providers. The capital will support Sonar's global expansion and the development of new products and services to better serve ISPs and accelerate growth.

MyCare Medical acquired Jacinto Medical Group, a four-location multi-specialty physician group with an imaging center serving Southeast Texas. The purchase expands MyCare's managed-care primary care platform into the Houston area and increases its reach among Medicare patients in Texas.

Pennzoil-Quaker State Company d/b/a SOPUS Products, a subsidiary of Shell USA, Inc., has acquired 100% of TFH Reliability Group, LLC, the parent company of Allied Reliability, to expand Shell's North American lubricants business with industrial services and predictive maintenance capabilities. The seller was Capstreet, the private equity owner of TFH/Allied Reliability; the transaction was signed and closed simultaneously.

Bowen, Miclette & Britt Insurance Agency (BMB), a Top 100 U.S. insurance brokerage, has acquired Technical Assurance, LLC, a provider of contract surety bonds and construction industry services. Technical Assurance will remain in The Woodlands, Texas and operate as a branch of BMB's Houston headquarters to strengthen BMB’s contract surety capabilities.

Smart Care, a Wind Point Partners–backed platform, has acquired Refrigeration Anytime, a Manor, Texas–based commercial refrigeration and HVAC repair provider. The add-on expands Smart Care’s Climate Solutions presence in Texas, marking the platform’s third Texas acquisition and eighth since partnering with Wind Point.

Cox Transportation Services has acquired Outwest Express, a Texas-based truckload carrier specializing in Mexican cross-border logistics, adding more than 400 tractors and 1,200 trailers to Cox's network. The deal was completed alongside a majority recapitalization of Cox led by Expedition Capital Partners and Prudential Private Capital to support continued platform growth.

The Sterling Group has completed the acquisition of Gulf Winds International, a family-owned intermodal transportation provider headquartered in Seabrook/Houston, Texas. Sterling said it will partner with Gulf Winds’ management to accelerate growth and expand the company’s reach in the U.S. import/export and rail container drayage markets.

Gala Capital Partners (GCP), a Southern California private investment firm focused on emerging restaurant franchisors, has purchased Rusty Taco from Inspire Brands. The Rusty Taco management team, led by Brendan Mauri, will remain and has co‑invested in the transaction; terms were not disclosed.

Los Angeles-based Corbel Capital Partners acquired a minority equity stake in IcyBreeze (Sweetwater, Texas), a maker of portable air-conditioning and cooler products. The investment, which closed December 12, 2022, is intended to professionalize the business and support continued growth in unit sales, revenue, and profitability.

Century Golf Partners and HKI America completed the acquisition of the Four Seasons Golf & Sports Club of Las Colinas, a landmark private sports club and two championship golf courses in Irving, Texas. Century Golf will manage the club under its Arnold Palmer Golf Management brand, and the purchase expands both buyers' portfolios of golf and sports properties.

Rosewood Private Investments portfolio company General Informatics has acquired VAZATA's Managed Services Division. VAZATA will continue to operate its data center facilities while the managed services business is folded into General Informatics to expand the buyer's Texas presence and managed services capabilities.

CRW Consulting & Distribution, LLC (rebranding to CRW Companies) has acquired CCI Inspection Services, Inc., a Conroe, Texas–based provider of coating, pipeline and welding inspection services to major energy companies. The deal expands CRW's coatings and surface-preparation consulting capabilities for oil & gas and industrial clients; CRW plans to grow CCI's inspector roster and customer base with projected revenue increases.

MBF Healthcare Partners II, L.P., a Coral Gables-based middle market healthcare private equity firm, has completed the acquisition of Austin Connect to Wellness, LLC d/b/a ABA Connect, a Texas-based provider of applied behavior analysis (ABA) therapy. ABA Connect operates six facilities across the Austin and Houston MSAs; MBF said the investment will support clinical and operational growth as the company expands across Texas and into other states.

Montrose Environmental Group, Inc. (NYSE: MEG) acquired Huco Consulting, Inc., a Houston-based consultant specializing in EHS and ESG data management and software implementation. Huco's leadership will join Montrose's Advisory and Specialty Services business; terms were not disclosed.

Higginbotham has acquired TrustStar Insurance Services, an independent property/casualty agency based in Universal City, Texas, marking Higginbotham's entry into that market. The deal brings TrustStar's team and local client relationships into Higginbotham's platform and expands Higginbotham's ability to offer employee benefits and HR outsourcing services in Central Texas.

Frontier Tubular Solutions, a platform backed by SCF Partners, has acquired Lincoln Manufacturing, a provider of threaded and machined products and services to the Oil Country Tubular Goods (OCTG) and construction industries. Lincoln, headquartered in Magnolia, Texas with additional facilities in Houston, Tomball, Texas and Strasburg, Ohio, will continue to operate under its existing brand while expanding Frontier's product offering and geographic footprint.

Brookside Capital Partners provided subordinated debt and a preferred-equity co-investment to support the growth strategy of Principal LED, Inc., a San Angelo, Texas-based manufacturer of LED modules and lighting components. Principal is an existing portfolio company of Valesco Industries, LLC; the capital package is intended to support the company's expansion and growth initiatives in the electrical sign and architectural illumination markets.

Texas First Rentals, a division of HOLT, has acquired Rental One, a family-owned construction equipment and storage container rental company based in Colleyville, Texas. The acquisition adds 15 locations across the Dallas–Fort Worth Metroplex and Central Texas, brings ~300 employees into Texas First Rentals and expands the buyer's footprint to a total of 40 locations across Texas.

BGSF, Inc. (NYSE: BGSF), a national provider of consulting, managed services and workforce solutions, acquired Texas-based Horn Solutions, Inc., a workforce solutions firm focused on finance, accounting and IT staffing. The acquisition adds Horn’s teams and capabilities across Houston, Dallas and Austin to BGSF’s consulting and managed services platforms, enabling cross-selling and expanded IT managed services.

Critical Energy Infrastructure Services (CEIS), a platform formed by private investment firm White Wolf Capital, has acquired Rayne Staffing, a Houston-based staffing firm specializing in engineering, construction management and skilled trades professionals for the energy infrastructure sector. Financial terms were not disclosed; White Wolf said the acquisition will provide Rayne with capital and resources to accelerate growth as part of CEIS's platform serving utilities, nuclear power generation and other power customers.

Tecnotree Corporation (Espoo, Finland) has agreed to acquire CognitiveScale, an Austin-based AI engineering platform provider, to expand Tecnotree's AI/ML capabilities and accelerate 5G use-case monetization in North America. The deal is expected to contribute roughly EUR 5 million of ARR in 2023 and is subject to customary conditions, with closing expected in 2022.

All-Stat Portable has acquired Texas-based GHC Imaging, expanding All-Stat's mobile diagnostic imaging service area into Texas. The acquisition preserves local continuity of care while enabling All-Stat to offer expanded services (vascular access, infusion therapy, enhanced cardiac diagnostics) to Texas post-acute and long-term care customers.

Griffin Dewatering, a portfolio company of Crossplane Capital, has acquired the Pump & Integrity rental segment of Cross Country Infrastructure Services, adding fleet, technical expertise and branch locations to create a national water-management platform. Graycliff Partners provided subordinated debt and a minority equity investment to support Crossplane Capital's acquisition and the merger of Pump & Integrity into Griffin, enabling geographic expansion, equipment efficiencies and cross-sell opportunities.

Keurig Dr Pepper entered a strategic partnership with Nutrabolt, acquiring a minority equity stake (reported ~30%, ~$863M) and agreeing a long-term sales and distribution arrangement. The transaction coincides with MidOcean Partners' exit of its investment in Nutrabolt, the owner of brands including C4 Energy, Cellucor and XTEND.

Cognizant has agreed to acquire Houston-based Utegration LLC, a specialist SAP consulting and solutions provider focused on the energy and utilities sector. The deal, in which PE owner RLH Equity Partners sold Utegration, brings roughly 350 employees and industry-specific SAP products (Utility4U suite) into Cognizant's enterprise platform services to deepen its SAP capabilities for energy and utilities clients.

Hover Energy has acquired Shine Development Partners to integrate solar, storage and project development capabilities into its Wind-Powered Microgrid offering. The acquisition brings Shine's project development, financing and operations experience in commercial and industrial solar and storage to support Hover's commercialization and global rollout of its microgrid technology.

Stratus, a Vestar Capital Partners-backed brand implementation and facilities services platform, acquired San Antonio-based Comet Signs to expand its production and installation capabilities in the Southwest and Western U.S. The deal adds Comet’s manufacturing footprint across Austin, Dallas, Houston, San Antonio and Tyler and increases Stratus’s ability to serve national blue‑chip customers; terms were not disclosed.

AlgoSec acquired Prevasio, a SaaS cloud-native application protection platform (CNAPP) that provides agentless CSPM, container vulnerability scanning, and dynamic analysis. The acquisition expands AlgoSec's cloud-native security capabilities by incorporating Prevasio's SRI-derived AI technology to offer cost-effective, agentless cloud security across multi-cloud and container environments.

MML Capital Partners has acquired OnPoint Industrial Services, a Deer Park, Texas-based provider of safety, logistics and planning services for refinery and petrochemical turnarounds, from Capstreet (with minority involvement from HCI Equity Partners). Financial terms were not disclosed; Stellus Capital provided senior debt financing and an equity co-investment to support the transaction. MML said it will invest in technology and expand OnPoint's capabilities to accelerate growth.

OMNIA Partners, Public Sector acquired the National Cooperative Purchasing Alliance (NCPA), a Houston-based government purchasing cooperative. The deal expands OMNIA Partners’ public-sector contract portfolio and extends its reach into state and local government, K-12 and higher education procurement.

UFP Packaging, an affiliate of UFP Industries, acquired Titan Corrugated, Inc. and its affiliate All Boxed Up, LLC, adding corrugated conversion and distribution capabilities to UFP's industrial packaging portfolio. The combined Titan companies had trailing 12-month sales of approximately $46.5 million through October 2022; Titan's leadership, including founder Jon Reneau, will remain with the business.

Grace Hill, a technology-enabled performance platform backed by Aurora Capital Partners, has acquired Edge2Learn and Ellis Partners in Management Solutions to expand its training, policy management, survey and mystery-shopping capabilities for the multifamily real estate industry. Financial terms were not disclosed; the deal is intended as an add-on to strengthen Grace Hill's employee and property intelligence platform and accelerate product innovation.

Convergint has acquired Texas-based Beckwith, which comprises Beckwith Electronic Engineering Co. and Beckwith Electronic Systems, LLC, adding approximately 140 colleagues and strengthening Convergint's life safety, security, and communications capabilities in the South Central U.S. The acquisition expands Convergint's vertical reach across healthcare, education, commercial, government and hospitality markets while preserving Beckwith's existing client relationships and service teams.

Dine Brands Global, Inc. agreed to acquire Fuzzy's Taco Shop from Experiential Brands LLC (a subsidiary of NRD Holding Company) for $80 million in cash. The purchase adds a fast-casual, largely franchised Mexican concept with 138 restaurants to Dine Brands' portfolio and is expected to be accretive to earnings while supporting Fuzzy's growth plans.

Wynnchurch Capital has acquired a majority ownership in Industrial Service Solutions (ISS) from Edgewater Funds and JZ Capital Partners, with Edgewater and JZ retaining minority stakes. The recapitalization will support ISS's continued organic growth and acquisitive expansion of its national industrial MRO platform headquartered in Houston, Texas.

VantEdge Partners, a family investment office, completed the strategic acquisition of ServiceMaster by Century and ServiceMaster by Disaster Recon and will operate the combined business under the DBA ServiceMaster CDR. The transaction consolidates roughly 40 franchise/license territories across Texas and Ohio to create a multi-location restoration platform led by Blake Moak, Jillian Moak and Greg Dennison.

Snap Health, a Texas-based healthcare technology company, has acquired Your Therapy Source (YTS), a large in-home therapy and home-health provider in Texas. The deal brings over 500 clinicians and 150 home health partners into Snap Health and expands the company's services to include in-home nursing visits.

Corteva, Inc. signed a definitive agreement to acquire Houston-based Stoller Group, a leading independent biologicals and plant-health company with operations in more than 60 countries and forecasted 2022 revenues of over $400 million. Corteva will pay $1.2 billion in cash (≈12x expected 2022 EBITDA); the deal is expected to close in the first half of 2023 and is intended to accelerate and expand Corteva’s Biologicals capabilities and commercial reach.

EnCap Investments (via its EnCap Energy Transition platform) has made a significant equity commitment to Bleutec Industries, a Houston-based builder, owner and operator of Jones Act‑compliant offshore wind turbine installation vessels. Bleutec management is co-investing alongside EnCap to accelerate development of its Binary Marine Installation Solution (BMIS) and build out Jones Act vessels to support U.S. offshore wind projects.

Diamondback Energy, Inc. completed the previously announced acquisition of all leasehold interests and related assets of FireBird Energy LLC. The deal expands Diamondback's Permian Basin asset base, adding upstream leasehold and related operations.

Cognizant has agreed to acquire AustinCSI, a Dallas-based digital transformation consultancy specializing in enterprise cloud and data analytics advisory services. The acquisition—expected to close in Q4 2022—adds more than 175 consultants to Cognizant's consulting capabilities and strengthens its enterprise cloud, AI and data analytics advisory offerings for Fortune 500 clients across telecommunications, media, technology and automotive sectors.

Service Champions Group, a portfolio company of Odyssey Investment Partners, has acquired Service Wizard Heating & Air Conditioning, a family-owned HVAC services provider in Austin, Texas. The deal marks Service Champions' first entry into the Texas market and expands the platform's national footprint.

Concentric Equity Partners and Summer Street Capital Partners led a global investment group that purchased a majority stake in Frontier Waste Solutions from Blue Sage Capital. The transaction recapitalizes Frontier to support continued geographic growth across Texas and capability expansion including further vertical integration and materials processing; Frontier's founders and managers remain significant owners.

Merchants Metals Recycling II CD, LLC (the "Company of Merchants") has acquired C&D Scrap Metal Recyclers Co., Inc., a Houston-based scrap metal recycler, in a transaction that closed on November 21, 2022. The acquisition expands the buyer's portfolio of industrial facilities and increases its convenient metal drop-off footprint and brand recognition across the Greater Houston area.

Frisco-based Rockhill Capital & Investments has merged with McKinney-based Horizon Capital Partners to combine teams and expand real estate investing and development capabilities across North Texas. The combined firm will operate under the Rockhill Capital & Investments name and plans to pursue a broader slate of residential, mixed-use and hospitality development projects in the region.

Tri-State Vacuum and Rental, LLC, a CIC Partners portfolio company, acquired certain saltwater disposal wells and associated equipment from Pilot Water Solutions SWD LLC, expanding its disposal capacity in the Haynesville Shale. The deal strengthens TriState's position in regional water management and logistics, supporting continued market share growth amid rising Haynesville production.

Risk Strategies, a national specialty insurance brokerage, acquired Wallace Specialty Insurance Group, a Richardson, Texas-based firm focused on insurance for dental professionals. The deal expands Risk Strategies' healthcare/dental specialty capabilities and strengthens its presence in Texas; terms were not disclosed.

Lam Research Corporation acquired Esgee Technologies, a developer of high-fidelity multiphysics plasma simulation software (VizGlow). The deal, announced as closed on November 16, 2022, was advised by Reynolds Advisory Partners and closed for undisclosed financial terms; the acquisition expands Lam's capabilities for semiconductor process modeling and equipment optimization.

Concentric, LLC, an OnPoint Group company and national leader in DC power management, has acquired Texas Motive Solutions, a provider of battery sales and service solutions to forklift dealers across Texas. The acquisition expands Concentric's footprint and capabilities in the Dallas and Houston logistics markets and will merge Texas operations under Evin Sisemore's leadership.