Acquisitions in Virginia in 2023

Dexis Consulting Group, a ~500-person Washington, D.C.-area professional services firm supporting U.S. foreign assistance programs, has partnered with CM Equity Partners for a growth capital investment to scale its federal civilian business. Dexis' management team and board remain in place; the capital will support expansion of social impact work across additional federal agencies including disaster recovery, public health, climate, and AI-enabled citizen services.

Funds managed by Carlyle and Insight Partners will make a majority investment in Exiger, a McLean, Virginia–based AI-driven supply chain and third‑party risk management SaaS company. Management, founders and existing investor Carrick Capital Partners are reinvesting equity; the investment will be used to accelerate product innovation, scale the 1Exiger AI platform, and expand customer engagement across government and commercial markets.

Bain Capital Private Equity completed the acquisition of Guidehouse from Veritas Capital for $5.3 billion. Guidehouse, a McLean, Virginia–headquartered consulting and managed services firm with more than 17,000 professionals, will continue to be led by CEO Scott McIntyre as it pursues further organic and inorganic growth under Bain.

Diné Development Corporation (DDC), a Navajo Nation–owned government services company, has acquired Spin Systems, Inc. (SpinSys), an award-winning data analytics and AI/ML-driven intelligence visualization software and services firm. The acquisition adds SpinSys’s big-data aggregation, visualization, cloud migration and predictive modeling capabilities to DDC’s existing IT and professional services offerings to better serve U.S. government customers, including the Department of Defense.

ATPCO has acquired 3Victors, a travel data analytics startup founded in 2017; terms were not disclosed and the entire 3Victors team will join ATPCO as a subsidiary. The acquisition is intended to strengthen ATPCO's real-time data science and AI capabilities to accelerate the industry's transition to dynamic pricing and offer creation.

Nokia has acquired North American tactical communications specialist Fenix Group from Enlightenment Capital to strengthen its defense and private wireless offerings. Fenix — maker of the Banshee and Talon tactical 3GPP products — will help Nokia expand capabilities for mission-critical, low-latency military communications and accelerate its U.S. defense strategy.

24 Seven, a New York–based marketing, creative and tech recruiting firm, has acquired McKinley Marketing Partners, a Washington, D.C.-area marketing and communications staffing firm. McKinley's founder Michelle Boggs will remain on as a strategic advisor as the firm is integrated into 24 Seven's family of brands to expand talent solutions and geographic reach.

Osano, a Baird Capital portfolio company, has completed the acquisition of WireWheel, an enterprise provider of data privacy solutions. The deal integrates WireWheel's privacy assessment tools into Osano's data privacy SaaS platform to add enterprise-grade assessment, auditing and reporting capabilities; financial terms were not disclosed.

Tower Arch Capital has formed S&N Infrastructure Services, LLC in partnership with Allen Powell and S&N's leadership to complete a recapitalization of N&S Construction, Inc. d/b/a S&N Communications. The investment will support the company's planned geographic expansion and capability growth across its communications and electric utilities infrastructure services in the Mid-Atlantic and Southeast.

A fund managed by Ares Management's Infrastructure Opportunities strategy has acquired Burnham RNG from Edge Natural Resources. The investment will support Burnham's development and construction of a pipeline of renewable natural gas (RNG) and waste-to-biogas projects across the United States, including the Pasco Resource Recovery Center in Pasco, Washington.

NSC Technologies, a portfolio company of White Wolf Capital Group, has acquired Shipyard Staffing to expand its marine and skilled trades staffing capabilities. The add-on strengthens NSC's platform in the shipyard and marine infrastructure market; financial terms were not disclosed.

Rotunda Capital Partners has invested in Door Pro America, a Gainesville, Virginia‑based residential garage door installation, repair and replacement services provider with eight U.S. locations. The founders (Co‑Presidents Larry Notto and Chris Traxler) will remain in leadership and retain an ownership stake as Rotunda partners with the company to scale organically and via acquisitions.

STAR Group, a Minneapolis-based experiential marketing and exhibits company, has acquired Exhibit Edge, an experiential marketing and exhibit firm headquartered in Chantilly, Virginia. The deal expands STAR Group's geographic footprint in the Northeast and augments its exhibit design, fabrication and event capabilities to better serve defense, pharmaceutical and other key clients.

Arlington Capital Partners has completed its acquisition of Exostar, a cloud-based secure business collaboration platform, from Thoma Bravo. Arlington said it will leverage its domain expertise in regulated industries to accelerate Exostar's product development and growth across aerospace & defense, healthcare and financial services.

ProMach has acquired Sentry Equipment & Erectors Inc., a Forest, Virginia-based manufacturer of conveyors, container handling equipment and packaging systems. The deal adds Sentry's conveyor and end-of-line capabilities and its ~230-person team to ProMach's Systems and Integration business line, broadening ProMach's product portfolio and systems-integration capabilities across beverage, food and other end markets.

SonicWall has acquired Solutions Granted, Inc. (SGI), a U.S.-based Managed Security Service Provider (MSSP) that provides SOC-as-a-Service, Managed Detection and Response (MDR) and other managed security services tailored for MSPs and MSSPs. The acquisition expands SonicWall’s partner-focused portfolio with U.S.-based SOC capabilities and recurring managed-security offerings designed to accelerate partner growth and improve automated threat detection and response.

Steward Partners Global Advisory has agreed to acquire the wealth management business of FSP Enterprise LLC (d/b/a Freedom Street Partners). The deal brings Freedom Street's network of 38 financial advisors and $3.2 billion in client assets into Steward Partners as the foundation of a new "owned business" division to expand Steward's advisor-acquisition and succession capabilities and accelerate regional expansion.

Standard Solar, a Brookfield Renewable company, has acquired a 12-megawatt community solar project portfolio in Virginia from New Leaf Energy, comprising one project in Chatham and two in Kilmarnock. The projects — including over 7 MW allocated to low- and moderate-income customers in Kilmarnock — are expected to generate about 19,811 MWh annually and mark Standard Solar's entry into Virginia's community solar market.

Baltimore Potomac Truck Centers has acquired TMI Truck & Equipment (Tidewater Mack, Inc.), adding two dealerships in Chesapeake and Norfolk, Virginia. The deal, completed Nov. 13, 2023, expands Baltimore Potomac's footprint in Tidewater Virginia and brings additional OEM franchises (including Isuzu) and trailer lines into its portfolio.

Blue Delta Capital Partners has made a minority growth investment in federal IT solutions provider Concept Plus, LLC to support the company’s strategic growth, strengthen its executive leadership team and establish a board of directors. The investment will help Concept Plus expand its capabilities in the Oracle ecosystem and better serve U.S. federal government customers.

BigBear.ai has signed a definitive merger agreement to acquire Pangiam (Pangiam Intermediate Holdings, LLC) in an all-stock transaction valued at roughly $70 million, expected to close in Q1 2024. The deal combines Pangiam's facial recognition and biometric capabilities with BigBear.ai's computer vision and AI analytics to create a comprehensive Vision AI portfolio and expand the combined company's customer base into airlines, airports, identity-verification firms and additional U.S. government contracts.

Central Garden & Pet (NASDAQ: CENT) has acquired TDBBS, LLC — the owner of Best Bully Sticks, Barkworthies and Paw Love — from private equity firm Bregal Partners. The Richmond, Virginia–based natural dog chews and treats business bolsters Central’s dog treats and chews portfolio and strengthens its eCommerce and digital capabilities; the transaction closed on November 3, 2023.

Evertree Insurance Services has acquired Virginia Beach-based Prosper Insurance, finalizing the transaction on November 1, 2023. The deal expands Evertree's Mid-Atlantic footprint and brings Prosper's technology and ~99-person team onto Evertree's tech-enabled personal-lines brokerage platform to accelerate embedded partnership capabilities nationwide.

Precise Systems, a Bluestone Investment Partners-backed government services platform, has acquired Excet, Inc., a Springfield, Virginia-based provider of physical sciences research and engineering services to the U.S. Department of Defense. The deal, which closed on November 10, 2023, expands Precise’s capabilities in CBRNE, biotechnology, chemistry and related physical-sciences support for Army and Navy customers and represents Precise’s first acquisition since Bluestone’s investment earlier in 2023.

Redhorse Corporation has completed the acquisition of Allied Associates International (A2I), a Gainesville, Virginia-based cybersecurity and engineering firm. The deal adds A2I's cyber data analytics and software development capabilities and nearly 500 technical employees to Redhorse's national security-focused data analytics, engineering, and AI/ML platform.

Tyler Technologies has acquired ARInspect, a Fairfax, Virginia–based provider of AI-powered machine learning solutions for public sector field operations. Tyler will integrate ARInspect's intelligent edge platform into its Application Platform and deploy the technology across state and federal verticals (including environmental protection, disaster recovery, and human services).

Vizient has completed the acquisition of PrefTech OR, a cloud-based physician preference card management (PCM) SaaS that helps providers optimize operating room workflows, reduce supply waste and lower costs. The technology expands Vizient's Spend Management capabilities by adding PCM analytics and workflow automation to its services for hospitals and health systems.

JPB Partners, a family office and alternative asset manager, acquired Bowman's Plumbing, Heating, Air Conditioning & Electrical, Inc., a residential HVAC, plumbing and electrical services company headquartered in Sterling, Virginia. The transaction is an add-on to JPB's residential HVAC and plumbing platform (including Blue Mountain Plumbing, Heating & Cooling) to support de novo growth and additional add-on acquisitions across Virginia.

Eagle Fire Inc., a portfolio company of Rosewood Private Investments, has acquired Virginia-based fire protection firms Liberty Fire Solutions and Pro‑Tec Fire Solutions. The add-on deals expand Eagle Fire’s service capabilities and strengthen its presence in Southwest and Central Virginia, offering broader inspection, service, installation and monitoring support for industrial, commercial and government customers.

Hub International Limited acquired the assets of Asset Protection, Inc. (d/b/a AP Group), a Midlothian, Virginia insurance agency that specializes in coverage for dentists, oral surgeons, physicians and other professionals. The AP Group team led by Monty Dise will join Hub Mid-Atlantic as Hub strengthens its healthcare insurance capabilities; terms were not disclosed.

Varsity Healthcare Partners completed a strategic growth investment to acquire VetEvolve, a Richmond, Virginia-based multi-location veterinary care platform. The transaction was a sale by Align Capital Partners; VetEvolve operates 32+ clinics across the Mid-Atlantic and employs over 600 team members, and VHP will partner with management to expand the platform into new geographies.

GuidePoint Security, a Herndon-based cybersecurity solutions provider, closed a growth funding round led by Audax Private Equity with participation from prior investor ABS Capital Partners. The investment will be used to accelerate GuidePoint's U.S. growth and support international expansion; terms were not disclosed.

Generational Equity advised the sale of Busada Manufacturing Corp. (BMC), a Louisa, Virginia-based manufacturer of transparent butyrate tubing and plastic pipe, to a private investor. The transaction closed on October 6, 2023; Busada, founded in 1951, supplies custom clear tubing and related fabrication services to food, medical, pneumatic and other industrial end markets.

Magna5, a NewSpring Holdings-backed managed IT and cybersecurity platform, has acquired Advanced Network Systems (ANS), a Charlottesville, Virginia-based managed IT and cybersecurity provider. The add-on expands Magna5's scale and presence in the Mid-Atlantic (Virginia and West Virginia) and strengthens its managed IT, cybersecurity, data recovery, and cloud service capabilities; financial terms were not disclosed.

Arlington Capital Partners has acquired Avenu Insights & Analytics, a provider of revenue enhancement, payment and administrative software and services for state and local governments, from Mill Point Capital. The company, headquartered in Centreville, Virginia, employs over 600 people and will continue to be led by CEO Paul Colangelo as Arlington looks to invest in product expansion and inorganic growth.

Healthier Choices Management Corp. (HCMC) announced the acquisition of Ellwood Thompson's, an organic and natural foods market located in Richmond, Virginia. The purchase is intended to accelerate HCMC's expansion of its grocery segment and help grow the company's retail footprint and revenues.

K. Neal Truck and Bus Center, a family-owned multi-location commercial truck and bus dealership, has acquired Powell's Truck & Equipment, Inc. of Lynchburg, Virginia from Reggie and Steve Powell. The acquisition adds Powell's single-location dealership and rental/leasing division to K. Neal's footprint across the Washington, D.C., Maryland and Virginia markets, expanding service, parts and sales capabilities for medium- and heavy-duty commercial fleets.

Fencing Supply Group (FSG), a platform backed by private equity firm The Sterling Group, has acquired Atlantic Fence Supply, a wholesale fence distributor and fabricator based in Ashland, Virginia. The add-on expands FSG’s branch footprint and capabilities in the Richmond/Tidewater Virginia market, while providing additional resources and growth opportunities for Atlantic Fence Supply’s employees and customers.

Kane Infrastructure Services Holdings, an Aterian Investment Partners portfolio company, has acquired NET100, a Mid‑Atlantic provider of structured cabling and network infrastructure services. The deal expands Kane's contiguous operating footprint into Virginia and strengthens its design, build, and maintenance capabilities as an add‑on to the Kane platform under new CEO John Wozniak.

A fund managed by Maritime Partners, LLC acquired Norfolk, Virginia-based U.S. Marine Management LLC (USMMI) from Maersk Line, Limited on September 20, 2023. The deal adds USMMI’s fleet and long-term government contracts (including Military Sealift Command work and a Tanker Security Program award) to the acquiring fund’s portfolio to expand capabilities and diversify assets and counterparties.

A&M Capital Partners has made a majority investment in VTG, a provider of modernization and digital transformation solutions for the U.S. Defense and Intelligence Community. The Jordan Company exited its ownership as part of the transaction; A&M plans to grow VTG via a mix of organic investments and acquisition-driven expansion.

Classic Collision, a national multi-site collision repair operator headquartered in Atlanta, acquired Elite Auto Body Group, a six-location MSO in the Tidewater region of Virginia. The acquisition brings Classic Collision into the Virginia market and expands its network of repair centers, while former owner Chris Bucci transitions the Elite locations into the Classic Collision platform.

Townsend Street Capital, in partnership with HighGrove Companies, has acquired a controlling interest in Spire Collective (dba Spire), a Troy, Virginia-based designer and engineer of outdoor gear storage and garage organization products. Midwest Mezzanine Funds and Oxer Capital provided subordinated/unitranche debt financing and also co-invested alongside the sponsors; Spire’s founders and management will remain in leadership and retain a meaningful ownership stake to support the company’s next phase of growth.

Allied Group Holdings, LLC (Allied Power), a Bernhard Capital Partners-backed platform, has acquired Dominion Engineering, Inc., a provider of field service equipment, technology, and specialized engineering services to the nuclear power industry. The add-on acquisition expands Allied's technical service, equipment and engineering capabilities for nuclear utilities, supporting outage, decommissioning and waste management work; financial terms were not disclosed.

Skyview Capital's portfolio company Continuum Global Solutions has acquired Faneuil, LLC, a business process outsourcing (BPO) provider specializing in customer experience and technical support for utilities, government and healthcare clients. The add-on acquisition is intended to bolster Continuum's scale and capabilities in the BPO/contact center market; terms were not disclosed.

Asbury Automotive Group agreed to acquire Jim Koons Automotive Companies, a Mid-Atlantic dealer group with 20 dealerships, 29 franchises and six collision centers that generated over $3 billion in revenue in 2022. The transaction, advised on the sell-side by Kerrigan Advisors, expands Asbury's presence in the Washington–Baltimore market and is expected to close in late 2023 or early 2024.

Omnicom PR Group (OPRG), part of Omnicom, has acquired public affairs firm PLUS Communications and political consultancy FP1 Strategies to expand its public affairs, corporate and political consulting capabilities. PLUS will continue to operate under its brand with management in place; BrightTower served as exclusive financial advisor to PLUS and FP1 in the transaction.

Systems Planning & Analysis (SPA), an Arlington Capital Partners portfolio company, has acquired PRKK, LLC, a provider of space domain awareness, systems engineering, and intelligence analysis services. The acquisition integrates PRKK into SPA's Space & Intelligence division to expand SPA's capabilities and customer reach across national security, Space Force, and intelligence community programs.

Bridge Core Federal, a NewSpring Holdings platform company, has acquired GeoYeti LLC, a government services firm specializing in advanced analytics, data science, and application development. The acquisition strengthens Bridge Core's data and analytics capabilities and integrates GeoYeti's Analysis-as-a-Service approach to better serve the intelligence community and other federal mission partners.

New Story acquired the Virginia assets of the Center for Autism & Related Disorders (CARD), comprising three school campuses and nine ABA therapy clinics. The locations will transition to New Story brands Rivermont Schools and Your Life ABA clinics, expanding New Story’s special education and therapy footprint in Virginia and growing its network support across multiple states.