Acquisitions in Virginia in 2024

DAT Freight & Analytics has acquired the operations of Trucker Tools LLC from ASG (a portfolio company of Alpine Investors) to integrate real-time load tracking, automated booking, and digital freight-matching capabilities into its DAT One platform. Trucker Tools will continue to operate under its current leadership, with CEO Kary Jablonski joining the DAT executive team; the deal closed on December 17, 2024.

Allvue Systems, a Vista-backed provider of alternative investment software, has acquired PFA Solutions, a specialist in carried interest and compensation software for private capital firms. The acquisition integrates PFA's FirmView capabilities into Allvue's platform to strengthen carried interest, compensation, and performance analytics functionality for private equity, venture capital and private debt managers.

Choice Financial Group, a Virginia Beach–headquartered insurance agency backed by Northlane Capital Partners, has acquired Employee Benefits of Virginia, a Richmond-area employee benefits advisory firm. The deal expands Choice's employee benefits capabilities and strengthens its presence in the Mid-Atlantic (Virginia) market.

VLS Environmental Solutions has acquired Clearfield MMG, a Chesapeake, Virginia–based waste treatment and remediation services provider that operates three facilities in Chesapeake, Petersburg and Suffolk. The deal expands VLS's geographic footprint and capabilities in the mid-Atlantic by adding Clearfield's waste processing, transportation and field services expertise.

OPSWAT has acquired Fend Incorporated, a data diode and unidirectional gateway technology provider headquartered in Arlington, Virginia, to expand its OT and critical-infrastructure cybersecurity product portfolio. The deal strengthens OPSWAT’s capabilities in secure one-way data transfer for government, utilities, energy, and industrial customers and was facilitated by M&A advisor Trafalgar Capital Partners.

True Environmental, a Halle Capital-backed environmental services platform, has acquired GKY & Associates, a Virginia-based water resources engineering and environmental consulting firm. The deal brings GKY's team and capabilities onto the True platform to accelerate growth, broaden service offerings, and facilitate an ownership transition for GKY's owners.

Trucordia, a top-20 U.S. insurance brokerage headquartered in Lindon, Utah, has acquired the insurance business of the family-owned Richard King Insurance Agency in Powhatan, Virginia. The acquisition is part of Trucordia’s ongoing roll-up strategy to expand its footprint and service offerings by integrating high-growth, client-focused local brokerages.

VIAVI Solutions Inc. signed a definitive agreement to acquire Inertial Labs, Inc. for $150 million in initial consideration with up to $175 million of contingent consideration over four years. The acquisition broadens VIAVI’s product capabilities in positioning, navigation and timing (PNT) and accelerates its entry into aerospace, defense and autonomous industrial end markets; it is expected to add about $50 million in NSE revenue in 2025 and be EPS-accretive within 12 months.

Vortex Companies, LLC has acquired Tri-State Utilities and Pipe Vision from National Underground Group, a portfolio company of ORIX Capital Partners. The Virginia-based businesses provide trenchless pipeline rehabilitation, pipe cleaning and inspection services and will expand Vortex's capabilities and geographic footprint across the Mid-Atlantic and Southeastern United States. Financial terms were not disclosed.

Trucordia, a top-20 U.S. insurance brokerage headquartered in Lindon, Utah, has acquired the insurance business of Archibald Insurance, which operates offices in Richmond, Midlothian and North Chesterfield, Virginia. The deal brings Archibald's client base and local operations into Trucordia's integrated platform to expand coverage offerings, pricing competitiveness and value-added services like in-house risk management and claims advocacy.

TurboTenant has acquired REI Hub, a rental property accounting software provider, to expand its all-in-one property management offering for landlords. The move integrates REI Hub's bookkeeping and IRS Schedule E–ready reporting into TurboTenant's platform, enabling bundled subscriptions and broader accounting capabilities for independent landlords and property management partners.

Westwood Professional Services, a national design and consulting firm based in Plano, Texas, has acquired Virginia-based Balzer & Associates, a multi-disciplinary land development, architecture, engineering, and surveying firm. The transaction expands Westwood's geographic presence in Virginia (adding four offices) and strengthens its land development and professional services capabilities.

Evolv, a payment acceptance solutions provider headquartered in Newburgh, Indiana, has acquired Virginia-based EnzoPay and will rebrand the business as Evolv Mid-Atlantic. The deal strengthens Evolv's distribution network and expands its presence and capabilities across the Mid-Atlantic (Virginia, DC, Maryland, New Jersey).

The Vertex Companies, a portfolio company of Wind Point Partners, has acquired LitCon Group, a forensic accounting, financial analysis, eDiscovery and construction consulting firm. The add-on expands Vertex’s forensic, financial accounting and litigation support capabilities and extends its geographic and technical reach for clients across construction, government contracts, insurance and commercial litigation matters.

SIXGEN, a mission-focused cyber solutions provider backed by Washington Harbour Partners, has acquired Kyrus Tech, a specialized software development and reverse-engineering firm serving the U.S. intelligence and defense communities. The add-on strengthens SIXGEN's engineering capabilities (adding ~80 engineers) and expands its mission-focused product and services portfolio for national security and critical infrastructure customers.

ID.me closed a $67 million secondary tender offer led by new investor Ribbit Capital with participation from existing investors Viking Global Investors and CapitalG. The transaction provides liquidity to existing shareholders while bringing in institutional investors to support the company’s continued growth; ID.me is headquartered in McLean, Virginia and has enrolled over 135 million users into its digital identity wallet.

KANA Private Wealth Group, a Tampa-based boutique wealth management firm, has acquired the financial planning and advisory business of The Foley Group in Fairfax, Virginia. The deal facilitates the retirement/exit of Thom J. Foley and strengthens KANA's presence in the northern Virginia/Washington, D.C. market while ensuring continuity of services for The Foley Group's clients.

Classic Collision, a national multi-site collision repair operator based in Atlanta, acquired Bowditch Collision Center in Newport News, Virginia. The acquisition expands Classic Collision’s presence in the Hampton Roads market and brings Bowditch’s renovated facility and team into Classic’s Virginia operations; the former owner, Casey Rosinski, will exit following the sale.

NexGenSolutions, an Autodesk Solution Provider, has acquired Automated Solutions Inc. (ASI), a provider of FeatureCAM, Fusion, and CNC machining services. The acquisition expands NexGenSolutions’ advanced CAM support, training, and post-processor customization capabilities and brings ASI customers access to NexGenSolutions’ Platinum Support, LMS, and training services.

Paramount Mechanical Corporation, a Stonebridge Partners portfolio company, acquired Math Mechanical, Inc. on November 21, 2024. The add-on expands Paramount’s HVAC, plumbing and medical-gas capabilities in southern Virginia and strengthens relationships with hospital and commercial customers in the Newport News/Norfolk/Virginia Beach region.

CoreStack Inc., an AI-powered multi-cloud governance platform based in Bellevue, Washington, has acquired Karthik Consulting LLC, a Virginia-based federal IT and cybersecurity systems integrator. The deal brings Karthik Consulting's cATO and DevSecOps capabilities and ~125 security-focused professionals into CoreStack to accelerate the company's expansion into the U.S. federal market and bolster its cloud-security offerings.

Azalea Capital has acquired Virginia Food Group (VFG), owner of brands including Virginia Diner, Feridies, The Peanut Shop of Williamsburg, and Red Rocker Candy. Farragut Capital Partners provided senior subordinated debt and equity alongside NewSpring Capital and Salem Investment Partners to support the acquisition, with Atlantic Union Bank providing senior debt financing.

Integral Federal has acquired Reston-based IT solutions firm Pragmatics, LLC to broaden its mission-critical support for national security customers. The deal adds Pragmatics' expertise in agile development, DevSecOps, cloud and other digital solutions to Integral's capabilities, enhancing its ability to deliver integrated services to federal defense, intelligence and civilian agencies.

JobGet, an app-first hourly hiring platform, acquired Snagajob to combine reach and capabilities and create the largest hourly workforce job platform in the United States. Snagajob will operate as a standalone business within JobGet, expanding JobGet's reach to over 100 million hourly worker profiles and giving employers continued access to Snagajob's platform alongside JobGet's technology and features.

Federal Data Systems LLC, formerly a component of FedData Group Holdings LLC, was acquired by a new group of investors and has been rebranded as Clear Fracture LLC. The company will focus on advanced data integration and AI-driven data engineering solutions, and has appointed Brian Frutchey as CTO to lead its technology strategy.

Pleasant Land, a technology-focused private equity firm, acquired and combined Livanta and DOMA Technologies (and the related Advanta Government Services operations) to form Commence, a healthcare technology and quality-oversight business headquartered in Virginia Beach, Virginia. The combined company will provide AI-enabled clinical assessment, program integrity, and data-transformation solutions to federal health programs (including Medicare and VA) to improve quality oversight and operational efficiency.

Banyan Software has acquired DualEnroll, an EdTech SaaS platform that automates and manages dual and concurrent enrollment for over 100 colleges, districts, and systems across the United States. Founder Janet Van Pelt is stepping back from operations and Banyan has named Scott Holmes as CEO to lead the business as part of Banyan's growing education technology portfolio.

Tria Federal, a Sagewind Capital-backed technology and advisory services provider, has acquired Softrams to expand its digital transformation and system modernization capabilities for federal health and public safety agencies. The acquisition positions Softrams as the core of Tria's new Public Health business unit and adds over 650 technical professionals to the combined organization, creating a scaled provider supporting more than 20 federal agencies.

Tyto Athene, a Herndon, Virginia-based federal systems integrator and portfolio company of Arlington Capital Partners, has acquired Key Solutions, Inc. (KSI), a Washington, D.C.-area bid and proposal development consulting firm. The add-on strengthens Tyto's Proposal Center of Excellence and capture/proposal capabilities to accelerate growth in the government contracting market.

Zennify, a data-first technology consultancy, has acquired Terazo, a Richmond-based digital engineering firm, to expand its AI, data engineering, and platform modernization capabilities for regulated industries. The deal combines Zennify's Salesforce and regulated-industry expertise with Terazo's strengths in data engineering, APIs, and AI to deliver broader enterprise-scale data and AI solutions.

Stonepeak has agreed to acquire Boundary Street Capital, a specialist private credit investment manager focused on digital infrastructure, enterprise infrastructure software, and technology services for the lower middle market. The deal expands Stonepeak Credit's private credit capabilities and strengthens its digital infrastructure and technology services investing platform; terms were not disclosed and the transaction closed in January 2025.

FCA Management has rebranded as Vest Residential following a merger with Bonaventure’s property management division. The combined platform expands Vest’s footprint to more than 20,000 Class A and B multifamily units across eight states while incorporating Bonaventure’s ~8,000-unit portfolio and property management team.

Health Catalyst has agreed to acquire all equity interests in cybersecurity provider Intraprise Health for an aggregate purchase price of approximately $43 million, funded with a mix of cash and stock (including ~2,200,490 shares). The acquisition will fold Intraprise’s AI-powered cybersecurity and risk-management platform into Health Catalyst’s Ignite data and analytics ecosystem to expand cybersecurity, third-party risk and resilience capabilities for healthcare customers.

Titan America LLC has acquired D.M. Conner Sand & Gravel Company, which operates an aggregates quarry in Stuarts Draft, Virginia. The acquisition expands Titan America's aggregates and critical-minerals footprint in the Mid-Atlantic and secures clay and aggregate reserves to support its cement and construction-materials operations.

Gainesville, Virginia-based Superior Paving Corp. has acquired Kickin' Asphalt Paving & Excavating, LLC of Strasburg, Virginia, expanding Superior's operations along the I-81 corridor and into West Virginia. The deal is Superior's second acquisition of 2024 and increases the company's regional capacity while providing continuity for Kickin' Asphalt's employees and customers.

Trainocate, a global IT training provider, has acquired EnterOne, an EnterOne-based Reston, Virginia IT training specialist focused on Cisco, VMware, AWS and Microsoft technologies. The acquisition expands Trainocate’s footprint in North America and Latin America while enhancing its advanced-technology training capabilities, including AI and cloud offerings.

Forever Cheese has acquired substantially all assets of Virginia Packing, a Toano, Virginia-based specialty slicer and co-packer for cured meats, cheeses and other specialty foods. The deal expands Forever Cheese's value‑added service capabilities — including retail-ready slicing, packing and logistics — and keeps Virginia Packing operating out of its Toano facility.

Vantage Aviation, a Stamford-based, private equity-backed business aviation firm, has acquired Dominion Aviation, the sole-source FBO operator at Richmond Executive–Chesterfield County Airport (FCI). Dominion will continue operating its full-service offerings—including ground handling, fueling, hangar storage, aircraft management, charter, MRO (145 repair station), and flight training—while founder Mike Mickel remains with the business focusing on aircraft management as Vantage expands its U.S. FBO network.

Beyer Automotive Group, a Virginia-based dealer group that retails over 7,000 vehicles and generates ~ $400 million in annual revenue, was sold in two transactions advised by Haig Partners. Open Road Capital (backed by Bain Capital) acquired the Northern Virginia dealerships on October 10, 2024, while dealer investors Jim Keffer and Jon Alcorn purchased the Winchester dealerships (now operating as Dogwood Automotive Group) in a separate closing on August 30, 2024.

Omnex Engineering and Management, an Ann Arbor, Michigan-based consulting and certification firm, acquired Futurepast, Inc., a greenhouse gas (GHG) consulting, training, and verification firm headquartered in Arlington, Virginia. Futurepast will be integrated into Omnex's Secure, Safe, and Sustain (Omnex S3) business unit with John Shideler named Managing Director of Sustainability Services to expand Omnex's GHG, verification, training, and Net Zero capabilities.

NewSpring Holdings has acquired Xpect Solutions, a Fairfax, Virginia–based systems integrator that provides enterprise IT and physical security solutions to federal agencies. Lafayette Square provided a debt facility to support the transaction as NewSpring builds a federal, law-enforcement-focused platform to expand mission-critical IT and security capabilities.

MAI Capital Management has acquired Halpern Financial, a fee-only RIA with approximately $1.2 billion in client AUM and offices in Ashburn, Virginia and Rockville, Maryland (with a presence in Naples, Florida). Terms were not disclosed; Halpern's founder Ted Halpern will become a regional president and the firm will adopt MAI's branding and internal infrastructure to support growth and expand MAI's regional footprint.

Wacona Capital has acquired Mid-Atlantic Power Specialists, Inc. (MAPS), a specialty electrical services provider focused on data center customers in the greater Washington, D.C. / Northern Virginia market. Brightwood Capital partnered with Wacona to provide financing and will have a board representative to support MAPS' next phase of growth; Quantive Advisors served as exclusive financial advisor to MAPS.

Infinity Home Services, a portfolio company of private equity firm Freeman Spogli & Co., has acquired Exterior Medics, a Washington D.C.‑area home‑exterior remodeling services provider. The add‑on transaction (closed October 4, 2024) expands IHS's footprint and service capabilities in the D.C. metro market; Founders Advisors acted as sell‑side advisor to Exterior Medics' co‑owners.

XFS Global, LLC has acquired HeyTex USA, Inc., which has been renamed Bondcote Performance Textiles, LLC. The Pulaski, Virginia-based manufacturer of coated and laminated performance fabrics (≈60 employees) will operate under XFS Global as part of a vertical-integration strategy to strengthen shelter solutions for military and commercial customers; the transaction was financed with assistance from Lake Country Capital (LC2).

CACI International has acquired Reston, Virginia-based cloud, data and cybersecurity firm Applied Insight from private equity owner Acacia Group in an all-cash transaction. The deal adds Applied Insight’s cloud migration, secure networking and infrastructure modernization capabilities—and its government/DoD and Intelligence Community relationships—to CACI’s portfolio, strengthening the buyer’s cloud and cyber offerings for defense and national security customers.

Dataprise, a portfolio company of Trinity Hunt Partners, has acquired 360IT Partners, an IT service provider based in Virginia Beach, Virginia. The deal expands Dataprise's East Coast footprint into Southeast Virginia and gives 360IT Partners' roughly 130 clients access to Dataprise's managed IT and cybersecurity offerings.

Cadmus has acquired Ventera, a Virginia-based technology consulting firm, and will establish Ventera as a new Technology Solutions Division led by Ventera's CEO Robert Acosta. The deal brings Ventera's expertise in agile delivery, DevSecOps, and digital transformation into Cadmus to expand technology-enabled consulting capabilities for government and commercial clients.

F9 Investments, the private equity firm controlled by LL Flooring founder Tom Sullivan, completed a going-concern purchase of LL Flooring’s assets, acquiring 219 stores, inventory, the Sandston, Virginia distribution center, intellectual property and other assets. The transaction—completed through the court-supervised Chapter 11 process—preserves the business and keeps the acquired stores open while remaining locations continue closing sales.

Kensington Vanguard National Land Services has completed the integration of BridgeTrust Title Group, consolidating BridgeTrust's offices and employees under the KV brand and its KVConnect technology platform. BridgeTrust operated for more than 20 years with 18 offices in eight states and over 130 employees; all employees and offices are now fully integrated into KV's operations.