Acquisitions in Virginia in 2020

Ennis, Inc. announced that a wholly owned subsidiary has entered into a letter of intent to acquire the assets and assume certain liabilities of Infoseal LLC, a Roanoke, Virginia producer of pressure-seal and tax forms. The Infoseal business will continue to operate under the Infoseal brand at its current facility and Ennis expects the acquisition to be accretive to earnings in the current year.

HealthEdge Software, a Blackstone-backed payor technology provider, has completed the acquisition of Altruista Health, a Reston-based care management and population health SaaS platform. The deal, sold by Martis Capital, integrates Altruista's GuidingCare platform with HealthEdge's HealthRules Payor to expand capabilities across claims adjudication, payment integrity and care management; terms were not disclosed.

Vectrus, Inc. agreed to acquire Zenetex for approximately $112 million (net of $11 million of expected tax benefits) to accelerate its converged infrastructure strategy and broaden capabilities in engineering, logistics, MRO, and security for defense and intelligence clients. The acquisition expands Vectrus' access to Intelligence Community and foreign military customers; Zenetex is headquartered in Herndon, Virginia and had roughly $200M in revenue with a backlog of over $700M.

Affiliates of CriticalPoint Capital completed the acquisition of substantially all assets of the Farm Supply Distribution division from Southern States Cooperative and rebranded the business as Agway Farm & Home. The company will operate as a wholesale product distributor serving a network of more than 1,250 independent dealers and Southern States-owned retail locations across the East Coast; CriticalPoint said it plans to support organic growth and strategic add-on acquisitions.

GrayMatter has acquired Richmond, Virginia-based E-Merge Systems to expand its Industrial Intelligence and systems-integration capabilities, including instrumentation, control, industrial networking and analytics, and to strengthen its mid-Atlantic presence. E-Merge co-founders will take on leadership roles at GrayMatter as the firm integrates E-Merge's engineering team and client portfolio across manufacturing, water/wastewater, food & beverage and energy markets.

Bowman Consulting Group, Ltd. has signed a letter of intent to acquire KTA Group, an MEP engineering firm based in Herndon, Virginia. The asset purchase expands Bowman's mechanical, electrical, and plumbing (MEP) capabilities and supports its growth into the renewable energy market; KTA's approximately 40 technical experts will continue to operate from the Herndon office.

Arlington Capital Partners announced a strategic combination of its portfolio company Octo with Fairfax-based Sevatec to create a larger federal IT modernization and mission-software provider. The combined firm will operate under Octo leadership, generate nearly $300 million of revenue and employ approximately 1,100 people to serve defense, intelligence, federal health and civilian customers.

CenterOak Partners’ portfolio company Shamrock Environmental has acquired Virginia American Industries (VAI), a regional provider of non-hazardous wastewater treatment operating under the Aqua Clean and Reco trade names in Florida and Virginia. The add-on expands Shamrock’s permitted treatment capacity and roughly doubles its regional presence, strengthening its footprint across the Southeast U.S.; terms were not disclosed.

Phone2Action has acquired KnowWho, the world's largest directory of public officials and influencers, expanding its government relations and public affairs technology offering. The deal follows Phone2Action's recent purchase of GovPredict and brings KnowWho's database and founder Bruce Brownson onto the Phone2Action management team, creating a more comprehensive platform for policy, legislative and stakeholder intelligence.

Leidos Holdings, Inc. agreed to acquire 1901 Group, a provider of managed IT services, cloud and cybersecurity solutions, to expand Leidos' digital modernization and cloud capabilities. The transaction is expected to close in Q1 2021 for a purchase price of $215 million funded with cash on hand.

The Riverside Company has signed a definitive agreement to acquire a majority stake in Clinical Education Alliance (CEA), a Virginia-based provider of live and web-based continuing medical education (CME). Renovus Capital Partners sold its majority stake but will remain a minority investor; Riverside plans to expand CEA’s therapeutic areas, end-user base and technology offering to accelerate growth.

Hub Group, Inc. acquired NonstopDelivery, LLC (NSD), a non-asset based last-mile logistics provider based in Chantilly, Virginia, to add residential last-mile delivery capabilities and provide end-to-end supply chain solutions to its customers. NSD's senior leadership will remain with the business, which operates a nationwide agent network and is expected to be accretive to Hub Group's earnings.

An affiliate of Veritas Capital completed the $3.4 billion cash acquisition of Northrop Grumman's federal IT and mission support services business. The business, which generated approximately $2.3 billion in revenue in 2020, will be combined with Veritas portfolio company Peraton to create a scaled government mission capability integrator serving defense, intelligence, civil and health agencies.

Terracon has acquired TAM Consultants, Inc., a 15-person facilities engineering and design firm based in Williamsburg, Virginia. The acquisition expands Terracon's facilities services footprint in Virginia and the mid-Atlantic, and all TAM employees will join Terracon while continuing to operate locally as TAM Consultants, Inc., A Terracon Company.

XTIVIA, a B2B IT solutions firm, has acquired RightStar, an ITSM/ITIL and DevOps consulting company based in Northern Virginia. The acquisition expands XTIVIA’s managed services, software and government-facing capabilities and brings RightStar’s federal and commercial practice into XTIVIA’s service portfolio.

BRP Group, Inc. (NASDAQ: BRP) has entered into a partnership to acquire Armfield, Harrison & Thomas, Inc. (AHT), a Leesburg, Virginia-based insurance brokerage, converting AHT into part of BRP's middle-market operating group. AHT brings approximately $52M in annual revenues, expanded geographic scale in the Pacific Northwest, Mid-Atlantic and Northeast, and AHT CEO David Schaefer will serve as a Regional President within BRP's middle-market group.

KnowFully Learning Group, a NexPhase Capital-backed provider of professional education (including the Surgent brand), has acquired The Income Tax School, Inc. (ITS). ITS will operate as Surgent Income Tax School, expanding KnowFully/Surgent's tax-focused continuing education and exam-prep offerings for tax and accounting professionals.

Jacobs has acquired The Buffalo Group, a Reston, Virginia-based provider of advanced cyber and intelligence solutions, to strengthen Jacobs' national-security and Intelligence Community capabilities. Financial terms were not disclosed; the acquisition adds analytics, cyber, DevSecOps, identity intelligence, geospatial intelligence and AI/ML capabilities to Jacobs' mission-focused government offerings.

Amentum Holdings LLC agreed to acquire DynCorp International in a definitive transaction announced Sept. 24, 2020, creating one of the largest providers of mission-critical government support services with roughly $6 billion in combined revenue. The deal, which closed Nov. 23, 2020, expands Amentum's capabilities and market access in aviation support, contractor logistics, intelligence solutions and training, and combines the companies' workforces to about 34,000 employees globally.

Billhighway, a provider of financial and performance management solutions for member-based organizations, has acquired Impexium, a cloud-based association management (AMS) platform. The acquisition is intended to expand Billhighway’s AMS integrations and product capabilities to better serve associations and component-based organizations.

365 Data Centers has acquired Atlantic Metro Communications, adding a data center facility in Herndon, Virginia and expanding 365's colocation, network and cloud footprint across the U.S. The transaction increases 365's PoPs and cloud platform locations and brings Atlantic Metro's leadership team into 365's executive ranks.

Centauri Health Solutions has acquired Virginia-based Ivy Ventures, LLC to add referral management, scheduling and analytics capabilities to its hospital revenue cycle optimization offerings. The deal, supported by Centauri's lead investor Abry Partners (with Silversmith Capital Partners and SV Health Investors also backing Centauri), brings Ivy's IP-enabled, analytics-driven referral platform and team into Centauri's growing suite of services.

PAE (NASDAQ: PAE) will acquire Metis Solutions Corporation for approximately $92 million in cash, expanding PAE's intelligence analysis, training and program management capabilities for intelligence and defense customers. Metis, headquartered in Arlington, Virginia with more than 450 employees, brings additional contract vehicles and is expected to be accretive to PAE's financial metrics.

Installed Building Products, Inc. (NYSE: IBP) has acquired WeatherSeal Insulation Co., LLC, a Charlottesville, Virginia-based provider of fiberglass and spray foam insulation for residential customers. The acquisition (approximately $6.4 million of annual revenue) expands IBP's presence in Virginia and adds to its ongoing roll-up strategy of insulation and complementary building-product installers.

Expedition Capital Partners and Tecum Capital led a majority recapitalization of Cox Transportation Services, with subordinated debt and a minority equity investment from Ironwood Capital to back CEO Jay Smith. Cox, a truckload freight carrier and brokerage founded in 1982 and based in Ashland, Virginia, will use the capital to pursue organic growth and add-on acquisitions to expand its routes and customer base.

Markon Solutions, a Falls Church, Virginia-based professional services firm, acquired Armatus Solutions, a small Northern Virginia government contracting company that provides systems engineering and IT professional services to the U.S. Intelligence Community. The acquisition is intended to expand Markon's systems engineering and enterprise IT capabilities while preserving continuity for Armatus customers and employees.

GCOM, a provider of technology solutions for state and local governments, has acquired managed services provider 20/20 Teknology. The deal expands GCOM's capabilities in industrial-strength networks, unified and virtual communications, IT infrastructure and managed services to better serve public-sector customers; GCOM is backed by private equity firm Sagewind Capital.

West Monroe, a national business and technology consulting firm, has acquired Pace Harmon, an IT and business transformation and outsourcing advisory firm based in McLean, Virginia. The deal — the largest in West Monroe's history — expands West Monroe's capabilities in IT strategy, business process outsourcing, procurement, and vendor management and establishes a Washington, D.C.-area office; the transaction closed on November 1, 2020.

Trustar Bank has acquired Fairfax-based Granite Mortgage, LLC, making Granite a wholly owned subsidiary to enable the bank to launch a full-service residential mortgage business line. The deal expands Trustar's product offerings — including portfolio, jumbo and construction-to-perm loans — and aims to broaden lending across new states and the DC/MD/VA market.

AE Industrial Partners (AEI) has acquired Linkware, LLC and PRE, LLC d/b/a Pangiam and will combine the two companies under the Pangiam brand to create an integrated travel and security solutions technology platform. Linkware will continue to serve government customers under its brand while the combined company will offer end-to-end travel security and biometrics-enabled solutions to both commercial and government markets; terms were not disclosed.

Priority Ambulance has added Fredericksburg-based LifeCare Medical Transports to its national family of ambulance companies. LifeCare will continue to operate under its existing leadership and name while gaining access to Priority's resources to support growth and expansion across Virginia and beyond.

Hub International Limited acquired the insurance brokerage assets of The Olson Insurance Agency LLC and Insure All, LLC, both Virginia-based agencies. The agencies' owners (Max Olson and Michael Forney) and their employees will join Hub Mid-Atlantic; terms were not disclosed.

Welsh, Carson, Anderson & Stowe (WCAS) completed a strategic majority investment in GovernmentCIO, a provider of technology and digital solutions to the federal health IT market. The investment will fund organic growth and support a buy-and-build strategy to expand GovernmentCIO’s capabilities and customer footprint across federal health and adjacent federal IT markets.

Belcan, a PE-backed global supplier of engineering and IT services, has acquired Telesis Corporation, a McLean, Virginia-based provider of federal IT services. The deal expands Belcan's Government IT Solutions capabilities—adding cybersecurity, C4ISR, cloud modernization and managed/IT services—and represents the 15th acquisition under Belcan's ownership by AE Industrial Partners. Terms were not disclosed.

World Insurance Associates LLC (WIA) acquired Tucker Insurance Service, Inc., a Falls Church, Virginia-based full-service insurance agency, effective November 1, 2020; terms were not disclosed. WIA said the acquisition establishes its presence in Northern Virginia and will allow Tucker to leverage WIA's resources and network to enhance service levels and grow customer acquisition.

World Insurance Associates LLC (WIA), a nationally ranked insurance brokerage, acquired Danaher-Skewes & Associates, Inc., an independent insurance agency headquartered in Manassas, Virginia, effective November 1, 2020. Terms were not disclosed; the deal expands WIA’s presence in Northern Virginia and adds Danaher-Skewes’ local personal and commercial insurance capabilities to WIA’s platform.

Newport News-based federal contractor ITA International has acquired management consulting firm Innovative Decisions Inc. (now Innovative Decisions International) to add decision and risk analysis, operations research and systems engineering capabilities. Capstone Strategic advised ITA on the transaction to help integrate IDI's people and complementary capabilities into ITA's service offerings for government and commercial customers.

Acamar Partners Acquisition Corp. entered into a definitive business combination agreement to take CarLotz, Inc. public, supported by a $125 million PIPE led by Fidelity and strategic investors including KAR Global, McLarty Diversified Holdings, Rick Wagoner and TRP Capital Partners. The transaction will provide CarLotz with capital to fund nationwide hub expansion, technology investments and continued growth; closing was expected in Q4 2020.

I Squared Capital agreed to acquire GTT Communications' infrastructure division for $2.15 billion. The sale transfers a global fiber network, transatlantic subsea cables and data center/colocation assets to I Squared (later relaunched as EXA Infrastructure), allowing GTT to refocus on its capex‑light cloud networking business.

Appriss Inc. has acquired Securitec Screening Solutions, a Roanoke-based provider of court data and RPA-driven research for the background screening industry. The deal brings Securitec into the Appriss Insights division to expand Appriss's court-data assets and strengthen its Risk Intelligence and wholesale data platform.

Cambium Learning Group, a portfolio company of Veritas Capital, completed the acquisition of Rosetta Stone, including its Lexia Learning literacy division. The deal expands Cambium’s digital education portfolio by adding Rosetta Stone’s language-learning technology and Lexia’s PreK–12 literacy solutions to its suite of K‑12 and lifelong learning products.

Twin Point Capital LLC has purchased a controlling interest in Frontpoint Security, a U.S.-based provider of DIY home security and smart home technology. The private investment will provide Frontpoint with capital and strategic guidance to support technological innovation, service reliability and customer experience enhancements; terms were not disclosed.

Xenith Solutions, LLC has acquired TRI-COR Industries (TCI), a Reston-based full-lifecycle enterprise business and IT solutions provider to federal and local government agencies. The transaction transfers TCI's assets, employees, certifications and customer contracts to Xenith, with TCI retained as a wholly owned subsidiary to expand Xenith's mission-focused IT capabilities for defense and civilian customers.

Hub International Limited acquired the assets of WFG Benefits, Inc., a McLean, Virginia-based insurance and employee benefits planning firm. The acquisition, announced October 6, 2020, expands Hub’s Mid-Atlantic benefits capabilities and geographic footprint; terms were not disclosed.

Vector Solutions acquired LiveSafe, a mobile risk intelligence and safety communications platform, to add real-time incident prevention, reporting, and response capabilities to its SaaS product portfolio. LiveSafe, founded in 2012 and headquartered in Arlington, Virginia, serves over 400 customers across commercial, education, and government markets and will be integrated into Vector’s Risk Management solution to expand its safety and operational readiness capabilities.

KBR, Inc. has completed the acquisition of Centauri, LLC from Arlington Capital Partners for $827 million, expanding KBR's military space, directed energy, and intelligence capabilities. Centauri, headquartered in Chantilly, Virginia, is a provider of advanced space and intelligence engineering and cybersecurity solutions and will broaden KBR's mission-critical government solutions offerings.

ASGN Incorporated has acquired Skyris, LLC and will integrate the company into its ECS segment to bolster geospatial intelligence, remote sensing and open-source data analytics capabilities for Department of Defense and intelligence community customers. Skyris, founded in Fredericksburg, Virginia, brings approximately 75 cleared technical employees and proprietary Data-as-a-Service capabilities; financial terms were not disclosed.

World Insurance Associates LLC (WIA), a national insurance brokerage, acquired Hampton Insurance Agency, LLC, a property & casualty agency based in Hampton, Virginia, on October 1, 2020. The acquisition expands WIA's presence in Tidewater Virginia and adds Hampton Insurance's transportation-focused P&C expertise to WIA's platform; terms were not disclosed.

Veritas Capital agreed to acquire DXC Technology's U.S. State & Local Health and Human Services business for $5.0 billion in cash, creating the standalone company Gainwell Technologies. The business — which serves 42 states and territories and employs over 7,500 people — will operate independently under Veritas; DXC will use the proceeds to pay down debt and strengthen its balance sheet.

Mitratech, a provider of legal and compliance software, acquired Acuity ELM, a Richmond-based SaaS provider of e-billing, matter management, claims defense, and legal hold products. The acquisition expands Mitratech's enterprise legal management (ELM) portfolio and enhances its offerings for small and mid-size corporate legal and claims teams.