Acquisitions in Vermont in 2021

NV5 Global, Inc. announced it will acquire Optimal Energy, Inc., an energy-efficiency consulting firm with offices in Vermont and Rhode Island, in a cash-and-stock transaction expected to close before December 31, 2021. The deal expands NV5’s energy efficiency and clean energy consulting capabilities for utilities, state agencies, and regulatory bodies and is expected to be immediately accretive to NV5’s earnings.

OneDigital has acquired Kinney Pike Insurance, a Rutland, Vermont-based independent insurance agency with six locations across Vermont that serves more than 13,000 customers. The acquisition brings 65 Kinney Pike employees into OneDigital and represents OneDigital’s first property & casualty office in the Northeast, expanding its P&C capabilities and New England risk management platform.

iSun, Inc. completed the acquisition of SunCommon, adding a leading residential, community and commercial solar installer to its business for approximately $25.5 million in cash plus 1,810,915 shares of iSun common stock, with additional working capital and employee distributions. The deal positions the combined company as a regional full-service solar installation leader across residential, commercial, industrial and utility-scale markets and supports iSun's East Coast residential expansion strategy.

Xerox Holdings Corporation acquired Competitive Computing (C2), a New England–based IT services provider, to expand Xerox’s IT services capabilities and grow its presence serving small and medium-sized businesses. C2, which serves clients across Vermont, New England and nationally, will join Xerox IT Services to accelerate growth in managed services, cloud and IT transformation offerings.

Parkway Capital, the mezzanine investment arm of Calvert Street Investment Partners, provided subordinated debt to lead a recapitalization of Phoenix Feeds & Nutrition, marking the company's first institutional capital. The financing is intended to support PFN's growth initiatives and expansion of operations across New England and New York.

DreamBox Learning, a Bellevue-based K-8 education technology provider, has acquired Reading Plus, a Winooski, Vermont-based adaptive online reading program for grades 3–12. The purchase—sold by Avathon Capital—expands DreamBox's product portfolio from math into English language arts (reading), creating a combined dual-discipline offering for K-12 customers.

Averhealth, with support from Five Arrows Capital Partners, has acquired Aspenti, a Burlington-based provider of substance use monitoring, care coordination and diagnostic services. The deal expands Averhealth's referral base into physicians, treatment centers and healthcare systems and strengthens its capabilities in population health and substance use disorder management.

Copley Equity Partners has completed a majority investment in North Star Leasing, a Burlington, Vermont-based provider of equipment financing solutions. North Star Leasing CEO Daniel Feeney will remain in place; financial terms were not disclosed and Copley will be represented on the board to support the company's aggressive growth and consolidation strategy in the micro-ticket leasing market.

Peoples Bank has acquired the assets of North Star Leasing of Burlington, Vermont from Copley Equity Partners and North Star management. The acquisition brings equipment leasing capabilities and a 42-person originations platform to Peoples Bank to support growth in commercial equipment financing across multiple end markets.

Stonewall Kitchen, the Maine-based specialty food and home goods platform, acquired Vermont Coffee Company, a Middlebury, Vermont-based roaster and seller of certified-organic bagged coffee. The deal brings Vermont Coffee into Stonewall Kitchen’s family of specialty brands and supports continued roasting operations in Middlebury plus plans for a new downtown Middlebury café.

Chicago-based private equity firm Wind Point Partners has acquired FoodScience Corporation, a Vermont-based formulator, manufacturer and marketer of human and pet nutritional supplements. Wind Point will partner with management and incumbent CEO Sharon Rossi to grow the Company's branded and private-label business, accelerate eCommerce, and pursue broader growth in human and pet supplement markets.