Acquisitions in Washington in 2024

Amwins, a leading wholesale distributor of specialty insurance products, has acquired Superior Underwriters, a Bellevue, Washington–based managing general agency (MGA). The business, which will join Amwins Access, closed on December 31, 2024; terms were not disclosed and the acquisition is intended to strengthen Amwins' presence in the Pacific Northwest and expand its small-business binding authority capabilities.

Fleet Feet has acquired South Sound Running's two retail locations in Olympia and Puyallup, which will re-open as Fleet Feet Olympia and Fleet Feet Puyallup in early 2025. Local Fleet Feet franchisees Wade and Julie Pannell — who operate six other Washington stores — will operate the locations following the retirement sale by founders Greg Klein and Joan Marchioro.

Saothair Capital Partners has acquired a majority equity stake in T BAILEY, LLC, a vertically integrated manufacturer of above-ground industrial tanks, pressure vessels, marine pontoons and other large custom steel solutions based in Anacortes, Washington. Founder and CEO Gene Tanaka will remain in a meaningful ownership position and continue to lead the business; financing was provided by Polen Capital and legal/financial advisors included McGuireWoods, Holland & Hart and TM Capital.

Rainier Partners has completed a platform investment in Welfare & Pension Administration Service (WPAS), a Mercer Island, Washington–based third-party administrator (TPA) specializing in Taft-Hartley multi-employer benefit plan administration. The transaction represents a sale by Periscope Equity and will provide WPAS with capital and operational support to scale its services and serve more multi-employer trusts nationwide.

PrimeSource Brands, a Clearlake-backed provider of residential building products, has acquired CityPost, a Spokane Valley-based maker of patented cable railing systems for decks, patios and lofts. The add-on expands PrimeSource's outdoor living product portfolio and leverages CityPost's channel presence (direct e-commerce, distributors and big-box retailers); financial terms were not disclosed.

AstroTurf Corporation, a subsidiary of Sport Group, has acquired Coast to Coast Turf, a Seattle-based artificial turf installer and dealer. The deal expands AstroTurf’s presence in the U.S. Northwest — with Coast to Coast Turf serving as AstroTurf’s official construction arm for Washington, Oregon, Montana and Idaho — and retains the target’s leadership under Steve Webb.

Denver-based Espire Dental has partnered with and acquired Sauvage PLLC (Sauvage Dentistry), a five-practice dental group in Seattle, Washington. The deal expands Espire's footprint (now ~39 practices) into the Pacific Northwest, adding cosmetic and multi-specialty capabilities and transitioning Dr. Paul Sauvage's practices onto Espire's operational platform.

Espire Dental, a Denver-based integrated dental group, has acquired Tranquility Dental Wellness, a four-practice dental group serving Tacoma, Washington. The deal expands Espire’s footprint into the Pacific Northwest and adds cosmetic and multi-specialty capabilities to its network of practices.

Tenpoint Therapeutics Ltd. and Visus Therapeutics, Inc. completed a merger to combine their ophthalmic drug development programs, bringing the late-stage presbyopia candidate BRIMOCHOL PF together with Tenpoint’s broader aging-eye pipeline. The combined company is launching a crossover financing round with participation from institutional investors to support an NDA filing and a planned US commercial launch of BRIMOCHOL PF in the 1H of 2026. Henric Bjarke was named CEO of the merged company.

Hub International Limited has acquired the assets of Otter Insurance Agency, Inc., a locally owned insurance agency headquartered in Lynnwood, Washington. Patrick Otter and the Otter Insurance team will join HUB Northwest; terms were not disclosed and Clear Lake Consulting served as financial advisor to Otter.

Wildcat DX, LLC has acquired a full ownership stake in Navis Clinical Laboratories, Inc., a provider of diagnostic and toxicology lab testing services. Navis will remain led by interim CEO Dr. Damon Borg as Wildcat integrates the lab into its growing healthcare portfolio to expand capabilities and accelerate growth.

CuraLinc Healthcare has acquired the Employee Assistance Program (EAP) business from Seattle-based nonprofit Wellspring Family Services, with support from CuraLinc’s primary investor Lightyear Capital. The transaction transfers Wellspring’s EAP clients and services to CuraLinc to expand the company’s mental health and wellbeing offerings and ensure continuity of care for employer clients in the Pacific Northwest and nationwide.

Salon Republic, a portfolio company of Riata Capital Group, has acquired Mosaic Salons + Spas in Seattle, Washington. The add-on expands Salon Republic's West Coast footprint and increases its presence in the Pacific Northwest; terms were not disclosed.

GPS Trackit, the Inverness Graham-backed fleet telematics and video company, has acquired Zonar Systems from Continental. The deal (terms undisclosed) combines GPS Trackit's video telematics platform with Zonar's smart fleet management capabilities to deepen presence in government, education and commercial fleet markets and expand fleet safety, health and compliance offerings.

Medstar, a Washington-based non-emergency transport operator, acquired ATS Trans, LLC (Tacoma, WA) in a deal facilitated by IAG. The seller, Dianne Hutchins, financed the transaction after pandemic-era financing challenges; ATS Trans operates a fleet of ~60 vehicles and reported EBITDA of approximately $600,000.

Aprio has acquired Securitybricks, Inc., a cybersecurity firm specializing in cloud security, compliance and government contracting assessments, effective Dec. 1, 2024. The acquisition brings more than 15 Securitybricks team members into Aprio's Risk Assurance and Advisory Services practice and expands Aprio's FedRAMP/CMMC assessment and managed security compliance capabilities.

Runway Growth Capital committed $23 million in growth capital to Snap! Mobile to accelerate product development and expand the company's digital fundraising platform for schools, teams, and extracurricular organizations. The funding will be used to scale Snap!'s Snap! Raise platform and broaden its customer base across K‑12 athletics and activity programs.

Langan Engineering & Environmental Services has acquired Navix Engineering, a Bellevue-based site/civil engineering firm with a strong data center practice. The deal augments Langan's data center land development and site/civil capabilities and expands Navix's ability to support projects nationally; terms were not disclosed.

Enzoic, a Boulder-based identity threat detection and protection firm, has acquired VeriClouds, a provider of compromised password data collection and credential monitoring. The acquisition combines VeriClouds' marketplace and data sources with Enzoic's threat intelligence capabilities to deliver expanded compromised credential monitoring and enhanced identity protection services.

Traccom Inc. (TRCC) completed the acquisition of 100% of the capital stock of Vulcain, Inc., issuing 117,813,680 shares of Traccom common stock to Vulcain shareholders and making Vulcain a wholly owned operating subsidiary. The transaction gives Vulcain access to public markets (Pink Open Market) and capital to accelerate growth of its Causal AI and knowledge-management platform and expand into new end markets including insurance, healthcare and financial services.

The Select Group (TSG), a Raleigh-based technology consulting firm, has acquired Bluehawk Consulting, a Washington-based technology and business consulting firm. The acquisition expands TSG's capabilities and geographic footprint in the Pacific Northwest while bolstering its end-to-end technology consulting and managed services offerings for enterprise clients.

BCE Inc. (Bell Canada) has completed the acquisition of Ziply Fiber (Northwest Fiber Holdco, LLC) for C$5.0 billion in cash plus the assumption of approximately C$2.6 billion of net debt. The deal expands Bell's fibre footprint into the U.S. (adding ~1.3–1.4 million locations), leaves Ziply operating as a separate unit headquartered in Kirkland, Washington, and is paired with a strategic partnership with PSP Investments to accelerate U.S. fibre deployment.

Health Commons Project, a Washington-based nonprofit, has completed the acquisition of OneHealthPort, the state's health information exchange (HIE). The acquisition aims to improve data interoperability, strengthen care coordination, and expand public health data access across Washington State.

Lumifi, a managed detection and response (MDR) cybersecurity company based in Scottsdale, Arizona, has acquired Critical Insight, a Bremerton, Washington-based incident response and professional services provider. The acquisition expands Lumifi's incident response and professional services capabilities—strengthening its healthcare and critical infrastructure coverage—and brings over 200 customers into Lumifi's combined base.

Sofidel Group (through Sofidel America Corp.) completed the $1.06 billion cash acquisition of Clearwater Paper Corporation's tissue business (CLW Tissue). The deal transfers four U.S. production plants (Shelby, NC; Lewiston, ID; Las Vegas, NV; Elwood, IL) and ~1,700 employees to Sofidel, increasing Sofidel's North American capacity by about 25% and making it the fourth-largest tissue producer in North America; Clearwater Paper will use proceeds to reduce debt and focus on paperboard packaging.

Quris-AI has acquired the assets of Nortis (formerly Numa Biosciences) to integrate Nortis's Kidney-on-Chip microphysiology systems into Quris-AI's Bio-AI clinical prediction platform. The acquisition will combine Nortis's validated in-vitro kidney models with Quris-AI's machine-learning models and expand access to publicly funded MPS data while continuing collaborations with research institutes, the FDA and pharmaceutical partners.

Classic Collision, an Atlanta-based national multi-site collision repair operator, acquired Factory Finish, a collision repair shop in Bellevue, Washington. The seller was former owner Jeff Casady; Classic said the acquisition expands its local presence and adds a state-of-the-art facility to its network.

Kirkland-based managed services provider FusionTek has acquired Seattle-based hardware reseller and IT service firm dpe Systems. The acquisition expands FusionTek's hardware, software and subscription capabilities, strengthening its managed IT, cybersecurity and incident response offerings for regional business clients.

Spokane-based Windermere Lease Source Property Management has acquired the assets of longtime Spokane property manager Watson Management Co., adding roughly 550 rental properties and bringing Windermere's portfolio to about 1,100 doors. Watson's owners, Rawley and Helen Harrison, have retired and four Watson employees were retained; terms of the transaction were not disclosed.

Inszone Insurance Services has acquired Snapp & Son Insurance, Inc., a three-generation, family-owned personal-lines insurance agency with deep roots in the Seattle area. The deal expands Inszone's Pacific Northwest presence and gives Snapp & Son clients access to Inszone's broader carrier network and resources.

LaSalle Capital has completed an investment in Cascade Coffee, a contract roaster, grinder, flavorer and packager headquartered in Everett, Washington. The private equity firm will partner with CEO John Gilbert to expand Cascade's capabilities and national presence; Cascade was previously owned by Westward Partners.

Performance Systems Integration (PSI), a fire and life safety platform backed by The Riverside Company, has acquired Alexander Gow Fire Equipment (A.Gow) as an add-on. The deal expands PSI's geographic footprint into Hawaii and the marine suppression market while preserving the A.Gow brand and customer base in Washington and Oregon.

Carrier Johnson + Culture has merged with Seattle-based Communita | Atelier to integrate Communita’s landscape architecture and urban planning expertise into Carrier Johnson + Culture’s multidisciplinary design platform. The combined firm will broaden service offerings and expand Carrier Johnson + Culture’s presence in the Pacific Northwest.

NVIDIA has acquired Seattle-based OctoAI, a startup that provides tooling and infrastructure to build and run generative AI models. The deal — reported at roughly $165 million before adjustments and with potential incentives that could push consideration higher — brings OctoAI's ML compiler and model-serving technology and team into NVIDIA to bolster its AI infrastructure offerings.

The Codan Group, through its wholly owned subsidiary Codan US Inc., has agreed to acquire 100% of US-based SKT2 LLC dba Kägwerks, a developer of soldier-worn tactical networking communications hardware and software. The deal, funded partly by increased debt capacity and including upfront cash (~$33.6m) plus up-to-5% royalties over five years, positions Codan to expand its tactical communications capabilities and accelerate entry into the US military market.

Frontier Dermatology has acquired Doherty Dermatology, a Mohs surgery–specialized practice in Bellingham, Washington. The clinic will be rebranded as Frontier Dermatology (Bellingham South) effective October 1, 2024, expanding Frontier's Washington footprint and preserving Dr. Mark Doherty's leadership of the clinic.

Interplay Learning secured a growth investment from Goldman Sachs Alternatives and used part of the capital to acquire Industrial Training International (ITI). The transaction expands Interplay’s immersive skilled-trades training capability into crane and rigging/industrial training and adds Goldman Sachs representation to Interplay’s board.

Quality Collision Group (QCG) has acquired Trew Auto Body, adding two collision-repair locations in Bremerton and Olympia, Washington. The family-owned business — led by owner Tammy Trew — holds nine OEM certifications and has earned the Gold Class I-CAR Award since 2010; the deal increases QCG's national shop count to 70 and expands its Washington footprint.

Agellus Capital has completed a recapitalization investment in BlackPoint IT Services, a Seattle-based provider of managed IT, cloud hosting/VoIP, and cybersecurity services. The transaction will support BlackPoint's organic growth and enable further add-on acquisitions while James and Lesleigh Watson remain significant owners.

PCF Insurance Services (a top-20 U.S. insurance brokerage) has acquired the insurance business of Top Insurance Associates, based in Snohomish, Washington. The Top Insurance Associates team will join PCF's Fortiphi Insurance to expand PCF's presence and service capabilities across Washington and the broader Pacific Northwest as part of PCF's ongoing acquisitional growth strategy.

NWN Carousel, backed by private equity firm American Securities, has acquired Leverage Information Systems, a federal-focused IT solution provider. The deal expands NWN Carousel's presence in the U.S. Northwest and strengthens its capability to deliver AI-powered communications, networking, cybersecurity and managed services to federal agencies including the US Navy, NASA and the Department of Energy.

IBM has entered into a definitive agreement to acquire Accelalpha, a Bellevue-based Oracle Cloud Applications consultancy, from Century Park Capital Partners and other equityholders. The deal, expected to close in Q4 2024 pending customary approvals, will expand IBM Consulting's Oracle Cloud and supply‑chain/finance implementation and managed‑services capabilities; financial terms were not disclosed.

D2E Labs Ltd., through its operating platform Market Defense LLC, has acquired Lunge Marketing LLC, a Seattle-based full-service marketplace agency specializing in Amazon and other marketplace services. The acquisition strengthens D2E Labs' marketplace service offering—adding marketplace expertise in durables and lifestyle categories—and provides Lunge Marketing clients access to Market Defense/D2E Labs technology, brand protection and logistics capabilities.

Palm Beach, Florida-based Smart Source, LLC has acquired certain assets of Bellevue, Washington-based Kaye-Smith Enterprises, expanding Smart Source's print management and promotional-products capabilities in the Pacific Northwest. The deal increases Smart Source's annual sales to roughly $250 million and will keep the Kaye-Smith name in use as a 'Smart Source Company.'

HEST Investments, a Dallas-based private equity firm, made a strategic $1 million investment in American Binary, a U.S.-based post-quantum encryption company. The minority growth investment (finalized in Q4 of last year) will help American Binary accelerate R&D and commercialize its quantum-resistant encryption and enterprise VPN solutions for business and government customers.

TDV Capital Partners acquired GrowFlow from Dama Technology on August 30, 2024, in a transaction completed with GrowFlow's management team. GrowFlow is a Seattle-based provider of seed-to-sale inventory management, POS, e-commerce and payments software for cannabis retailers and wholesalers; TDV intends to support the company's expansion across the rapidly growing cannabis market.

SFERRA Fine Linens, a Highlander Partners portfolio company, has acquired Antica Farmacista, a Seattle-based luxury home and body fragrance brand. The acquisition expands SFERRA's luxury home offering into the home fragrance and bath & body categories and integrates Antica Farmacista's founders and employees into the SFERRA team.

Inszone Insurance Services has acquired Potter Insurance, a family-operated agency serving the Seattle and Issaquah communities since 1954. The deal expands Inszone's presence in Washington state and gives Potter clients access to Inszone's broader carrier network and back-office resources; Clear Lake Consulting served as exclusive advisor to Potter Insurance.

Groundworks, a Virginia Beach-based foundation and water management platform, has acquired Arlington, Washington-based Rainy Day Basement Systems. The acquisition expands Groundworks' Seattle-area footprint and brings Rainy Day's basement waterproofing and crawl space repair team into the Groundworks network while retaining the local team and offering employees ownership opportunities.

Swiftly has acquired Hopthru to integrate Hopthru's ridership data and analytics into Swiftly's transit data platform, enhancing agencies' abilities to access, clean, monitor, and analyze ridership for NTD reporting, service planning, and scheduling. The acquisition extends Swiftly's modular platform to include statistician-certified ridership datasets and NTD certification workflows, improving agencies' service-planning and reporting capabilities.