Acquisitions in Virginia in 2018

Vista Equity Partners has agreed to acquire 100% of Starhome Mach from Fortissimo Capital and will merge the business with its existing portfolio company Telarix to create an end-to-end roaming and interconnect software provider for global telecommunications carriers. The combined company, to be headquartered in Vienna, Virginia and led by Telarix's CEO, will offer integrated solutions across roaming, clearing, settlement, routing and fraud prevention to carriers and MVNOs worldwide.

Waterlogic Americas has acquired Pro Line Water, a Sterling, Virginia provider of bottleless water coolers and air filtration systems owned by Mark and George Mrad. The acquisition expands Waterlogic’s point-of-use (POU) and air filtration footprint in Northern Virginia and is the company’s fifth acquisition in the Americas in 2021.

US Fitness, a multi-brand operator of high-amenity health clubs (Onelife Fitness, Sport & Health, Crunch franchise locations), received a majority investment from Delos Capital with family office HRS Management investing alongside. New Evolution Ventures sold its interest; the Galiani brothers and CEO John Cristiano retain a significant stake as the company plans accelerated expansion, investing $50 million and opening multiple new clubs over the next five years.

XTIVIA, an enterprise information management and IT services firm headquartered in Colorado Springs, acquired Pleasant Valley Business Solutions (PVBS), a Reston, Virginia-based Microsoft ERP and financial management solution provider for government contractors. The acquisition brings PVBS's DCAA-ready Microsoft Dynamics solutions and specialist expertise into XTIVIA's broader portfolio to expand capabilities for government contractor clients.

Devon, PA-based private equity firm L2 Capital Partners has made a majority equity investment in Winchester Carpet & Rug Co., which operates the e‑retailer Rugs Direct. Dinan Capital Advisors served as exclusive financial advisor to Rugs Direct and its shareholders on the transaction; Rugs Direct is a leading online seller of area rugs and home décor with a catalog of more than 180,000 rugs.

PhishMe (now Cofense), a Leesburg, Virginia-based provider of human-driven phishing defense solutions, was acquired in February 2018 by a private equity consortium led by BlackRock and Pamplona Capital Management in a deal valuing the company at approximately $400 million. The transaction provides Cofense with private equity backing to support product innovation, global expansion and inorganic growth initiatives.

Cubic Corporation acquired MotionDSP to strengthen Cubic Mission Solutions' real-time video image enhancement and processing capabilities. MotionDSP, a provider of advanced video/image-processing and redaction software serving defense, public safety and industrial markets, will be integrated into Cubic's C4ISR and public safety offerings to expand capability and address new growth adjacencies.

Fulcrum IT Services, a portfolio company backed by Boyne Capital and Grindstone Partners, has acquired The PTR Group, an engineering services firm specializing in embedded systems, cybersecurity, real-time and IoT engineering. The acquisition expands Fulcrum’s cyber capabilities and its presence in R&D and intelligence markets, adding clients such as DARPA, NGA, the Naval Research Laboratory and NASA.

Menlo Technologies, a Santa Clara-based global services technology firm, has acquired Vienna, Virginia-headquartered ERP implementation specialist SSi Consulting. The acquisition expands Menlo's business application and ERP capabilities while allowing SSi to leverage Menlo's development, mobile application and global services delivery platform to better serve its hundreds of customers.