Acquisitions in Washington in 2021

Allied Motion Technologies Inc. acquired Spectrum Controls, Inc., a Bellevue, Washington–based designer and manufacturer of industrial I/O modules, displays and communications gateways, for a total purchase price of $70 million (approximately $45 million paid at closing, with $25 million deferred). Spectrum, founded in 1983 with about 72 employees, will expand Allied Motion’s industrial automation product portfolio and engineering capabilities and is expected to be accretive to earnings and gross margin.

Seattle-area technology consulting firm Fresh Consulting received a strategic growth investment from The Cynosure Group. The minority capital injection will support Fresh's capability expansion (including internal development and M&A) while the company's founders and management remain majority owners.

Physical Rehabilitation Network (PRN), a Gryphon Investors-backed physical therapy practice management platform, acquired Bonney Lake Physical Therapy & Hand Rehab, an outpatient clinic in Bonney Lake, Washington. The clinic becomes PRN's 22nd location in Washington as PRN expands its regional footprint and augments its hand and outpatient therapy capabilities.

EP Wealth Advisors, an RIA based in Torrance, California, acquired a Kirkland, Washington-based advisory team led by Todd Flynn and John Buller (four advisors and three staff), expanding EP Wealth’s presence in the Puget Sound to five Washington locations. The deal closed Dec. 28, 2021, and added more than $482 million in assets under management; financial terms were not disclosed.

Delos Capital and The Silverfern Group partnered to acquire Pioneer Recycling Services, a Tacoma, Washington–based operator of materials recovery facilities (MRFs) serving residential, commercial, municipal and industrial customers across the Pacific Northwest. Capstone Partners advised Pioneer (a portfolio company of Central Valley Fund) on the transaction; the PE buyers said they will partner with Pioneer’s management to grow the business and invest in its processing capabilities.

Arrow International, Inc., a Cleveland-based manufacturer and distributor of charitable gaming products, acquired the assets of Tab Wizard Inc., a provider of pull tab and food & beverage point-of-sale management software. The deal brings Tab Wizard's POS and reporting capabilities into Arrow's portfolio to expand its end-to-end offerings for charitable gaming customers; Tab Wizard founder Rob Perry sold the assets and will remain with Arrow.

An affiliate of Peak Rock Capital has completed the acquisition of Xenon arc Inc., a Bellevue, Washington–based technology‑enabled services provider for food & beverage, industrial and chemical manufacturers. Peak Rock will partner with Xenon arc's management team to accelerate growth through investments in technology, service capability expansion and complementary add‑on acquisitions to expand geographic coverage.

International Farming (IFC), a privately‑owned institutional asset manager, has acquired Chelan Fruit Cooperative, a 100‑year‑old Washington grower, packer and shipper of apples, cherries and pears. The deal combines Chelan Fruit’s orchards, packing and controlled‑atmosphere storage with IFC’s existing Washington tree‑fruit footprint to drive economies of scale and improve grower economics.

Francisco Partners has acquired Office Ally, a provider of cloud-based healthcare clearinghouse and revenue cycle management software. The investment will support Office Ally's product innovation and growth as founder Brian O'Neill retires and Chris Hart is named CEO.

Afterburn Holdings, a Brentwood-backed Orangetheory Fitness franchisee, acquired the Washington state area representative including 18 owned studios, 13 sub-franchised studios and area development rights. Brentwood Associates partnered with Garnett Station Partners to finance the transaction and will continue supporting Afterburn's expansion into the Pacific Northwest.

Gympass, the corporate wellbeing platform, has acquired Trainiac, a Seattle‑based leader in 1‑on‑1 online personal training, and will rebrand it as Trainiac by Gympass. The acquisition adds personalized coaching and in‑app training capabilities to Gympass’ offering, with Trainiac employees joining Gympass and a Seattle product team being established to support product development.

CSW Industrials (Nasdaq: CSWI) acquired Shoemaker Manufacturing of Cle Elum, Washington for $41.3 million, expanding CSWI's HVAC/R product offering and adding domestic manufacturing capacity. The acquisition adds Shoemaker's grilles, registers, and diffusers (GRD) portfolio and increases CSWI's regional presence in the Pacific Northwest while expected to be accretive to earnings in the first full year of ownership.

Empower Community Care has acquired F.F.T. LLC (FFT), the dissemination and training organization for the Functional Family Therapy model. The acquisition (an add-on to Empower, which is backed by Northlane Capital Partners) will allow Empower to expand its suite of evidence-based behavioral health programs and scale FFT's training and quality-assurance capabilities.

Ookla has acquired RootMetrics to combine Ookla's Speedtest crowdsourced measurement data with RootMetrics' controlled drive- and walk-test network measurement capabilities. The combined offering will provide mobile operators, network infrastructure providers and governments with integrated network performance analytics, leveraging Ookla's Wind platform alongside RootMetrics' testing and RootScore reporting.

Seaside Equity Partners completed a majority recapitalization of Cascade Healthcare Services in December 2021, acquiring the company from majority owner Evolution Capital Partners. Cascade, headquartered in Seattle, is a technology-enabled provider of certification training and continuing education to healthcare professionals across the Western U.S.; Seaside plans to invest in the platform's technology and pursue complementary service and content acquisitions to drive growth.

ImageFIRST Healthcare Laundry Specialists acquired the HLAC‑accredited linen processing facility and private‑sector operations of Puget Sound Laundry Services, a division of Northwest Center Services. The transaction (terms undisclosed) preserves all existing employees at the facility and expands ImageFIRST's ability to insource processing in the Pacific Northwest to support its national healthcare accounts.

Aquamar Holdings, a Huron Capital portfolio company, has acquired Shining Ocean, Inc. from True World Group to expand scale and diversify Aquamar’s surimi and branded seafood product offerings. The deal strengthens Aquamar’s position as a leading surimi producer in North America and adds new products and innovation opportunities to its platform.

MajorKey Technologies, backed by The Acacia Group, has acquired Seattle-based Valence Group, Inc., a digital transformation consultancy of ~90 consultants and engineers. The add-on strengthens MajorKey's strategic consulting, user-centered design and AI/ML/data-integration capabilities and expands its team to over 650 people.

Insignia Capital Group completed an equity investment in New Engen, a Seattle-based digital marketing agency, to accelerate growth and expand the agency's service capabilities. Insignia will join New Engen's board; existing investor August Capital and New Engen management will remain on the board as the agency continues to operate independently.

Sedgwick has acquired JND Legal Administration, a U.S.-based provider of class action, mass tort, eDiscovery, government redress and legal noticing services. The acquisition expands Sedgwick's legal solutions and bolsters its class action administration capabilities, adding JND's ~250 employees and multiple U.S. offices to Sedgwick's platform.

Daikin North America LLC has acquired Washington-based Thermal Supply, Inc. (a multi-location HVAC distributor) and AirReps, LLC (a long-tenured manufacturer's representative firm) to strengthen its residential and commercial presence in the Pacific Northwest. The transactions expand Daikin’s distribution footprint and manufacturer representation across Washington, Oregon, Idaho, Montana and Alaska, improving service and go-to-market coverage for both residential and commercial customers.

New Mountain Capital has partnered with Seattle-based Cumming Group in a growth-oriented transaction in which Tailwind Capital sold its stake while retaining an equity interest alongside New Mountain. Terms were not disclosed; Cumming is an international project and cost management consultancy with 1,100+ employees across 41 offices and will use New Mountain's capital to pursue organic growth and acquisitions.

Deep Isolation, a Berkeley-based developer of deep-borehole nuclear waste storage and disposal technology, has acquired Freestone Environmental Services, a Richland, Washington environmental and water-resources consulting firm. The acquisition brings Freestone's team of roughly 25 scientists and engineers and strengthens Deep Isolation's environmental investigation, regulatory planning, and remediation capabilities—particularly experience on the U.S. Department of Energy's Hanford project.

Center for Social Dynamics (CSD), a portfolio company of NMS Capital, has partnered with/acquired South Sound Behavior Therapy (SSBT), an applied behavior analysis (ABA) provider operating across Washington state. The transaction is an add-on to CSD's platform, expanding its presence in the greater Seattle and Olympia regions and supporting continued growth of SSBT's clinical services.

Senske Services, a family-owned lawn, tree and pest services company based in Kennewick, Washington, has acquired Custom Insect & Weed Control of Gig Harbor, Washington. The acquisition transfers customer service to Senske’s Washington Tree & Lawn Care division as founder Larry Morrison retires and supports Senske’s ongoing M&A-driven expansion in the Western United States.

Achieve Partners, a New York-based private investment firm, has acquired Ro Health, a Seattle-based medical staffing and home health agency, to support development of apprenticeship and training programs for school nurses and behavioral health professionals. The investment will help Ro Health scale its staffing services across K–12 schools, home health, long-term care and public health settings and address acute shortages of school-based healthcare workers.

Wynnchurch Capital has acquired Owen Family of Companies, a Vancouver, Washington–based specialty equipment platform that supplies and services street sweepers, sewer cleaners, hydro excavators and related municipal and utility equipment. CenterGate Capital, which partnered with Owen since 2018, sold the company to Wynnchurch to enable further geographic expansion, capability investment and accelerated growth under Wynnchurch's ownership.

Executech, backed by Evergreen Services Group, has acquired Elevate, an IT support provider based in Richland, Washington. The Elevate team (led by CEO Paul Carlisle) will join Executech as the Tri-Cities office, expanding Executech's geographic reach and access to cybersecurity and cloud services.

Pure Financial Advisors has agreed to acquire Seattle-area RIA Kaufman Kampe Advisors LLC. The deal expands Pure Financial’s presence in the Pacific Northwest; Kaufman Kampe founders Lori Kaufman and Valerie Kampe will join Pure Financial and continue serving their clients. Pure Financial is PE-backed following an investment from Lee Equity Partners and is also backed by Emigrant Partners.

Orangewood Partners has acquired Pacific Bells, one of the largest Taco Bell franchisees in the U.S., from Partners Group. Pacific Bells’ founder and CEO Tom Cook and the management team will retain a significant minority stake and continue to operate the business as Orangewood supports further expansion across existing and new markets.

American Equipment Holdings, a Rotunda Capital Partners portfolio company, has acquired Washington Crane & Hoist, a provider of overhead crane maintenance, repair and overhaul (MRO) services in the Pacific Northwest and Alaska. The add-on expands American Equipment's geographic footprint and service capabilities, reinforcing its position as a leading overhead crane and hoist solutions provider in the U.S.

Evergreen Coast Capital Corp., Elliott Investment Management’s technology-focused affiliate, has signed a definitive agreement to acquire a majority stake in DreamBox Learning. TPG’s The Rise Fund will retain a significant minority stake as DreamBox — a Bellevue-based K-12 adaptive learning provider on track for more than $100 million in revenue — prepares for the next phase of growth and product expansion.

One Equity Partners (OEP) completed the acquisitions of USNR and Wood Fiber Group and merged the two businesses to create an integrated supplier of wood processing equipment, automation systems, and aftermarket parts and consumables. The combined company is projected to have 2021 revenues greater than $500 million and will capitalize on complementary product lines, expanded technical capacity, and a broad installed base across global wood-processing markets.

TRUE linkswear, a Tacoma-based direct-to-consumer golf footwear brand, raised $11.25 million from KarpReilly to accelerate growth and expand its global business and brand. KarpReilly joins TRUE's existing investor group as a minority investor to support product, marketing and distribution expansion targeting a younger, growing golf audience.

Artisan Design Group (a portfolio company of The Sterling Group) has acquired Accents & Interiors, a Woodinville, Washington-based provider of flooring and solid-surface products and installation. The acquisition expands ADG's presence in the greater Puget Sound / Western Washington single-family market and adds countertops and window-covering capabilities to ADG's product offering.

Mad Mobile has acquired TableSafe, a mobile pay-at-the-table solution that enables EMV-certified and P2PE-compliant contactless and card payments. The acquisition expands Mad Mobile's restaurant mobility platform by adding in-table payment capabilities, analytics and access to TableSafe's restaurant customers.

1-800-FLOWERS.COM, Inc. has acquired Vital Choice, a premium wild-caught seafood and organic foods e-commerce brand, adding more than 400 "better for you" food items to its gourmet foods assortment. Vital Choice will operate as a wholly owned subsidiary and Lakeside Partners acted as exclusive financial advisor to Vital Choice.

IMA Financial Group announced it has acquired Washington-based Parker, Smith & Feek effective November 1, 2021, adding about 330 employees and expanding IMA’s national footprint across the Pacific Northwest, Alaska and Hawaii. Parker, Smith & Feek will retain its name, offices and leadership while the deal strengthens IMA’s healthcare specialty and construction practice and grows the combined firm to roughly 1,700 associates.

Assembly, the Los Angeles‑based e‑commerce software and data platform, has acquired Pacvue, an enterprise marketplace advertising, sales and intelligence platform. The deal strengthens Assembly’s product capabilities to serve merchants at all stages — adding enterprise-grade marketplace advertising and retail media intelligence to its suite; financial terms were not disclosed.

Concentric, LLC, an OnPoint Group company, has acquired All Battery Sales and Service, a provider of DC power solutions for forklifts and automotive/specialty power products. The acquisition expands Concentric's service footprint into the Northwestern United States (Washington, Oregon and Idaho) and broadens its forklift power and automotive/specialty power offerings.

Syncro, a Seattle-based RMM and PSA platform, has completed the acquisition of Watchman Monitoring, a SaaS provider that monitors the health of Mac and Windows computers. The deal retains all Watchman personnel, adds more than 400 customers, and will fold Watchman’s macOS-focused monitoring features into Syncro’s platform, making them available to Syncro customers at no additional cost.

Alliance Environmental Group, LLC has acquired Thermatech Northwest Inc. to expand its environmental remediation and abatement footprint onto the West Coast. The acquisition gives Alliance a presence in Washington (greater Seattle / Tacoma area) and adds Thermatech's hazardous waste removal, asbestos abatement and related services to Alliance's portfolio.

LFM Capital, a Nashville-based private equity firm, has invested in Rainier Industries, a long-established manufacturer of residential and commercial shade, shelter and display solutions headquartered in Tukwila, Washington. The Campbell family will remain involved as minority owners while LFM plans to partner with management to drive growth and operational improvements; terms were not disclosed.

Arcline Investment Management, a growth-oriented private equity firm, has acquired Onboard Systems International from Liberty Hall Capital Partners. The acquisition expands Arcline's portfolio in mission-critical electromechanical systems for aerospace and defense, adding a designer, manufacturer, and servicer of external cargo equipment for military and civil helicopters headquartered in Vancouver, Washington.

Fiverr has acquired Seattle-based online learning platform CreativeLive to expand its professional education offerings. CreativeLive will remain a standalone organization in Seattle with founder Chase Jarvis continuing as CEO, and Fiverr will fold its Fiverr Learn content into CreativeLive to scale learning for freelancers and businesses.

TPG Capital has agreed to acquire a majority stake in Nintex, the Bellevue, Washington–based provider of digital process automation software. Existing majority investor Thoma Bravo will make a new equity investment and retain a significant minority stake; the transaction is expected to close by the end of 2021 and aims to accelerate Nintex's product R&D and go-to-market expansion.

Sycamore Partners, a New York-based private equity firm, has completed its acquisition of Ste. Michelle Wine Estates from Altria Group. Ste. Michelle, the largest wine company in the Pacific Northwest with brands including Chateau Ste. Michelle, 14 Hands and Columbia Crest, will operate as an independent, privately held company under Sycamore to pursue growth and expand its premium wine portfolio.

Silgan Holdings Inc. acquired Unicep Packaging for $237 million to expand its precision dosing and dispensing packaging capabilities. Unicep operates two manufacturing facilities in Spokane, Washington and Sandpoint, Idaho and was projected to generate approximately $45 million in sales and $18.3 million in adjusted EBITDA for 2021.

424 Capital closed a majority investment in Health Perspectives Group (HPG) in early August 2021 to support HPG’s growth and expansion of its patient engagement offerings. The deal was completed alongside longtime 424 partners Eagle Private Capital, Plexus Capital and Enterprise Bank and will fund expansion of HPG’s tech-enabled patient engagement and clinical trial support services for pharmaceutical and biotechnology clients.

E78 Partners, a provider of finance, accounting and technology solutions for private equity portfolio companies, has acquired Seattle-based NextLevel, an executive services firm that supplies interim C-suite and senior operating executives. The acquisition expands E78's executive services capabilities and gives the firm a direct foothold in the Pacific Northwest; NextLevel's team of well over 100 operating executives will join E78 and continue serving existing clients during a transition period.