Acquisitions in Washington in 2020

Mercer Global Advisors, a Denver-based national registered investment adviser, acquired Spokane-based wealth management firm Hart Capital Management, Inc., effective December 31, 2020. Hart's founder Craig W. Hart and a team of nine professionals (serving ~400 clients with ~$440M AUM) joined Mercer to gain scale, infrastructure and expanded service capabilities.

Discovery Behavioral Health has acquired Prosperity Wellness Center, a 40-bed adult residential facility in Tacoma, Washington that specializes in substance use disorder treatment. The facility is the tenth brand added to Discovery’s portfolio as the company expands its network of residential and outpatient behavioral health services to increase access to care.

Resource Label Group, a PE-backed label and packaging manufacturer, has acquired Seattle-based Labels West to expand its footprint in the Pacific Northwest. Resource Label — a portfolio company of First Atlantic Capital and TPG Growth — will integrate Labels West’s flexographic and digital printing, shrink sleeve and RFID/NFC capabilities to broaden service offerings for customers in wine & spirits, health & beauty and food/nutraceutical markets.

Raymond James Financial, Inc. has acquired NWPS Holdings, Inc., doing business as NWPS or Northwest Plan Services, a Seattle-based provider of retirement plan recordkeeping, administration, consulting and actuarial services. The transaction, which retains NWPS's management team and employees, expands Raymond James' retirement services capabilities for its advisors and clients and follows WestView Capital Partners' exit of its investment.

Remedy Health Media, a portfolio company of Topspin Consumer Partners, has acquired Patient Power, an online cancer patient network founded by Andrew and Esther Schorr. The deal expands Remedy's oncology-focused content and complements its family of health brands to better serve patients, caregivers and healthcare professionals.

Streamland Media, a portfolio platform backed by Trive Capital and Five Crowns Capital, has acquired Seattle-based Clatter & Din, a sound and art post-production studio serving the interactive (gaming) market. The deal expands Streamland's Formosa Interactive unit, adding regional presence, creative talent and end-to-end post-production capabilities in the Pacific Northwest as an add-on to the platform.

SouthernCarlson, a subsidiary of Kyocera Corporation, has acquired Seattle-area Manor Hardware, a family-owned construction supply and tool repair business with locations in Everett, Tacoma and Lynnwood, Washington. The acquisition expands SouthernCarlson's multi-family supply and service capabilities and establishes a presence in the Pacific Northwest; terms were not disclosed.

Hub International Limited acquired the assets of The Vitolo Company, a Seattle-based independent insurance agency that provides employee benefits, group benefit planning and compliance consulting. Mike Vitolo and the Vitolo team will join Hub Northwest as part of the transaction; terms were not disclosed.

Quench USA, Inc., a King of Prussia, Pennsylvania–based provider of bottle‑free filtered drinking water solutions, has acquired Sunnybrook Water Company, a point‑of‑use drinking water systems dealer headquartered in Vancouver, Washington. The acquisition adds nearly 1,000 customers to Quench's Portland metropolitan footprint and continues Quench's dealer consolidation strategy.

Infobip has entered into a definitive agreement to acquire OpenMarket from Amdocs for approximately $300 million. The deal combines OpenMarket's U.S. mobile messaging scale with Infobip's global footprint, creating a cloud communications player with a combined revenue run-rate above $1 billion and the ability to process more than 14 billion customer interactions per month.

ClimeCo purchased a minority stake in EarthUP, Inc., a Seattle-based startup that provides a web-based sustainability and employee engagement platform. Techquity is named as a founding investor and ClimeCo will provide environmental solutions to support EarthUP as it moves from pilot to public launch with a freemium, subscription-based reporting offering.

Installed Building Products, Inc. (IBP) has acquired Norkote, Inc., a specialty coatings and insulation installer headquartered in Everett, Washington. The acquisition (terms undisclosed) adds approximately $10 million of annual revenue and expands IBP's commercial presence in Washington and Oregon.

Abry Partners has made a significant growth investment in OneCare Media, a Seattle-headquartered digital content and consumer health marketing business that owns brands such as SleepFoundation.org, Tuck.com, Testing.com, Help.org, and OnlineDoctor.com. OneCare will use the proceeds to support ongoing growth and acquisition activities; CG Petsky Prunier served as exclusive financial advisor to OneCare on the transaction.

Nintex has completed its acquisition of K2 Software, Inc., a provider of digital process automation (DPA) and workflow software. The deal expands Nintex's product portfolio and capabilities in process automation, boosting its position as a leading privately held process automation software vendor while broadening reach into K2's enterprise and European customer base.

Installed Building Products, Inc. (NYSE: IBP) has acquired Insulation Contractors/Magellan Insulation (known locally as Icon), a Kent, Washington-based installer of insulation, waterproofing and firestopping serving commercial and multi-family customers across Washington and Oregon. Icon brings approximately $26 million of annual revenue and expands IBP's presence in the Pacific Northwest commercial and multi-family markets.

Rite Aid Corporation has agreed to acquire family-owned Bartell Drugs in a $95 million transaction. Bartell Drugs will continue to operate under its name across 67 Seattle-area stores, expanding Rite Aid's presence in the greater Seattle market and complementing its pharmacy and health services.

Compass has signed a definitive agreement to acquire Modus, a Seattle-based title and escrow software startup. The acquisition brings Modus's technology and its 60+ person product, engineering and operations team into Compass's end-to-end real estate platform to accelerate closing capabilities and product development.

Smile Brands Inc., a Irvine-based dental support organization (and portfolio company of Gryphon Investors), announced that Reflections Dental of Seattle has joined as an affiliate partner. Smile Brands will provide administrative and operational support while the Reflections Dental team and brand remain in place.

GRO-WELL Environmental Partners (the parent of GRO-WELL Brands), a portfolio company of GEF Capital Partners, has acquired Pacific Topsoils Inc., a Pacific Northwest supplier of topsoil, bark and landscape construction materials. The acquisition expands GRO-WELL's product and service footprint throughout the Western United States and reinforces its recycling and sustainability capabilities.

Milne Fruit Products, a Prosser, Washington-based fruit processor, has acquired the assets of Valley Processing in Sunnyside, Washington, including juice and puree production lines and freezer/cold storage facilities. Milne said the purchase expands capacity and product synergies with its existing fruit and vegetable puree and juice offerings, enabling continued growth with its industrial food ingredient, beverage and health & wellness customers.

Digital Fuel Capital, a private equity firm focused on e-commerce, has acquired Seattle Coffee Gear, an omnichannel specialty retailer of coffee equipment, beans and repair services. Eagle Private Capital and Pine Street Capital Partners provided subordinated debt financing; founder Victor Gehlen will remain a significant shareholder and Mike Atkinson will continue as CEO as the company pursues accelerated growth through enhanced marketing and e-commerce capabilities.

OneDigital has acquired Resourceful HR, a Seattle-based human resources consulting firm led by Jennifer Olsen, to expand its HR consulting footprint in Washington and the Northwestern United States. The deal integrates Resourceful's HR expertise with OneDigital's broader benefits, retirement and HR technology capabilities to provide a more holistic advisory offering to regional clients.

Cloud Equity Group and its portfolio company ComfortHost acquired the assets of Advantagecom Networks to expand ComfortHost’s global hosting footprint and add hardware-based virtualized cloud infrastructure capabilities. The deal is an add-on acquisition that keeps Advantagecom’s brand and existing team in place while expanding ComfortHost’s geographic presence into the U.S. Northwest and broadening its product offering.

Progress (NASDAQ: PRGS) agreed to acquire Chef, a leader in DevOps and DevSecOps infrastructure automation, for $220 million in cash. The acquisition (expected to close Oct 2020) expands Progress' application development and compliance automation offerings by adding Chef's products, community and a reported $70M+ in annual recurring revenue.

Great Point Partners completed a growth recapitalization of Liberty Lake, Washington-based Family Resource Home Care to support the company's acquisitive growth strategy and geographic expansion across the Pacific Northwest. Family Resource Home Care operates nine field offices across Washington and Idaho and is a leading independent provider of private-duty, non-medical home care services.

Liquid Environmental Solutions (LES) has acquired the assets of FloHawks Plumbing + Septic, a Puyallup, Washington-based provider of septic pumping, inspections, repair and plumbing/drain cleaning for residential and commercial customers. The acquisition expands LES's non-hazardous wastewater customer base and service footprint in the Pacific Northwest; terms were not disclosed. LES is backed by Audax Private Equity.

AFV Partners LLC has acquired Seattle Avionics, a provider of general aviation flight applications, FAA-certified charts and flight data, and augmented reality technology, from founders John Rutter and Steve Podradchik. The transaction closed on September 3, 2020; Rutter and Podradchik will join AFV Partners' aviation vertical to help expand chart/data capabilities and accelerate product innovation.

Frontline Road Safety, a portfolio company of The Sterling Group, has acquired Apply-A-Line, a Pacific, Washington-based provider of road and airport striping solutions. The acquisition is an add-on to Frontline's platform as Sterling builds a national road safety and infrastructure maintenance platform through organic growth and M&A.

Banzai, an enterprise SaaS provider of event marketing automation, has acquired High Attendance, a cloud-based virtual and hybrid event management platform. High Attendance's team of about 10 will join Banzai (headquartered in Austin) and its founder, Christopher Justice, will become Banzai's Vice President of Engineering as the companies integrate capabilities to offer unified virtual, hybrid and in-person event experiences.

Mill Rock Capital formed a new platform, Mill Rock Packaging Partners LLC, and its charter acquisition was Trojan Lithograph Corporation, acquired from Arbor Investments. The private-equity-backed platform will accelerate TrojanLitho’s organic growth, expand operating capacity and pursue strategic add-on acquisitions in the specialty packaging market; terms were not disclosed.

Epic Wines & Spirits, a California-based premium wholesaler, has acquired Vehrs Distributing, Inc., an independently owned wine and craft spirits wholesaler operating in Washington, Oregon and Idaho. The transaction expands Epic's West Coast footprint, giving producer partners full distribution coverage up and down the coast while Vehrs will continue to operate under its name with existing management.

Arreva has acquired MaestroSoft, a provider of auction, event management, mobile bidding (Text2Bid) and text-based giving (Text2Fund) software, to expand its virtual fundraising and donor engagement capabilities. MaestroSoft will continue to operate as a stand-alone Arreva company with its Seattle/Bellevue team retained, broadening Arreva’s ExceedFurther platform offerings for nonprofit clients.

OnSolve, a provider of mass notification and critical event management solutions, acquired Stabilitas, an AI-driven situational awareness and threat intelligence platform. The acquisition integrates Stabilitas' real-time AI-based event detection and risk analysis with OnSolve's critical communications and incident management capabilities to deliver end-to-end critical event management for enterprise and government customers.

Health Catalyst, Inc. entered into a definitive agreement to acquire Vitalware, LLC, a Yakima, Washington–based provider of revenue workflow optimization and analytics SaaS for healthcare organizations. Vitalware brings Best in KLAS chargemaster management, revenue integrity, and price transparency solutions that expand Health Catalyst’s CFO offering; the deal is expected to close in Q3–Q4 2020 and will be funded with a mix of stock and cash.

Westward Partners, together with Cascade Coffee management, has acquired Cascade Coffee, Inc., a specialty coffee roasting and contract packaging company based in Everett, Washington. Cascadia Capital served as exclusive financial advisor to Cascade on the transaction; the deal positions Westward to invest in contract manufacturing capabilities and expanded retail-focused production amid rising at-home coffee demand.

Exchange Income Corporation (EIC) completed the acquisition of all issued and outstanding shares of Window Installation Specialists, Inc. (WIS) for US$45.0 million. The deal integrates WIS into EIC’s Quest Window Systems platform to vertically expand supply-and-install glazing capabilities on the U.S. West Coast; WIS founder and CEO Louis Mark committed to remain in his role.

Bekins Northwest, based in Olympia, Washington, has acquired Merchants Moving & Storage in Bremerton, WA to expand its footprint in Kitsap County and better serve military and local customers. The purchase adds a strategic branch that helps Bekins Northwest cover every military installation in Washington and marks its 11th location in the state.

Minneapolis-based VNN acquired Lynden, Washington–based Washington Prep Athletics Network (WPA Network), the leading provider of high school athletic websites, scheduling and data-management tools in Washington State. The deal expands VNN's footprint in K–12 athletics, connecting dozens of Washington leagues and hundreds of high schools to VNN's national platform and combining complementary product and services capabilities.

Pathstone, a partner-owned multigenerational family office, has acquired Cornerstone Advisors Inc., a Bellevue, Washington-based wealth and lifestyle management firm. The combination adds Cornerstone's ~$4 billion AUM and ~65 employees to Pathstone, expanding capabilities, scale and partner ownership across the combined firm (roughly 200 employees across nine offices and ~$20 billion in advisory assets).

TA Associates and Francisco Partners have signed a definitive agreement to make a significant growth investment in Edifecs, a Bellevue-based health information technology company. The minority growth investment, expected to close in Q3 2020, will support Edifecs' product innovation and expansion across interoperability, value-based care payments and analytics.

insightsoftware, a global provider of financial reporting and enterprise performance management software, has acquired Event 1 Software, an Excel-based reporting solution provider focused on construction and real estate ERPs. The acquisition expands insightsoftware's real-time financial reporting capabilities and deepens its offerings for customers using Sage and Viewpoint platforms; terms were not disclosed.

Westelcom, a New York-based provider of advanced communications services, has acquired Teo Communications Services, a Mukilteo, Washington–based unified communications and contact center solutions provider. The deal adds Teo’s proprietary unified communications technology, national sales and support capabilities, and expands Westelcom’s product portfolio and geographic reach to a national footprint.

AQUALIS, a portfolio company of DFW Capital Partners, has acquired the assets of Innovative Vacuum Services (Innovac), a Pacific Northwest stormwater and emergency response provider. The add-on expands AQUALIS' vactor/jetting, CCTV inspection and commercial HVAC duct-cleaning capabilities and strengthens its geographic presence in the Pacific Northwest.

Kustom US has acquired Zion Restoration, a Pasco, Washington-based fire and water restoration firm, expanding Kustom's footprint in the Northwest. Zion's leadership (Paul and Sara Little) and staff will remain in place as the business operates as a division of Kustom to extend local capabilities and serve larger commercial and residential customers.

OneTrust acquired Integris Software to integrate Integris’ AI-powered data discovery and classification technology into OneTrust DataDiscovery. The acquisition strengthens OneTrust’s capabilities for automated data discovery, classification, and privacy/security governance across cloud and on-premise systems.

CloudEngage, a web personalization platform, has acquired Seattle-based AnswerDash to add AI-powered self-service support and ecommerce solutions to its product suite. The deal is intended to integrate AnswerDash's predictive Q&A and automated support capabilities into CloudEngage's personalization and Chord live-chat offerings to improve conversion rates and reduce support costs.

NewSpring Healthcare, the dedicated healthcare strategy of NewSpring, has invested in MacroHealth Solutions in partnership with TT Capital Partners. The growth investment will fund MacroHealth's technology and operations expansion to accelerate product development, engineering hires, and go-to-market efforts for its enterprise health-market-as-a-service platform.

Sensei Biotherapeutics has completed the acquisition of Alvaxa Biosciences, a Seattle-based developer of camelid (alpaca-derived) nanobodies and related discovery libraries. The purchase brings Alvaxa's nanobody libraries, discovery expertise and a partnership with Hope Farms into Sensei's ImmunoPhage platform to expand its immuno-oncology capabilities.

Creation Technologies acquired Applied Technical Services (ATS) on May 5, 2020 to expand its manufacturing footprint in the Pacific Northwest and Mexico and to broaden capabilities in Aerospace & Defense, Medical, and Tech Industrial markets. ATS is a privately held EMS provider with ~500 employees and facilities in Everett, Washington and Hermosillo, Mexico; owner and CEO George Hamilton is named in the announcement.

A Searchlight Capital Partners-led investor group, together with WaveDivision Capital (WDC), PSP Investments, BCI and CPP Investments, completed the $1.352 billion acquisition of Frontier Communications' Northwest operations and assets and committed an additional $500 million for network and service improvements to form Ziply Fiber. The new company, headquartered in Kirkland, Washington, will focus on upgrading the region to predominantly all-fiber service for roughly 500,000 residential and business subscribers across Washington, Oregon, Idaho and Montana.