Acquisitions in West Virginia in 2024

Trilogy Innovations, Inc. has acquired West Virginia-based NRM Solutions to expand its cloud-based natural resource management software suite. The deal, finalized December 6, will integrate NRM's patented mineral rights and asset-management capabilities into Trilogy's software and cloud services offerings to broaden product capabilities and end-market reach.

Victory Automotive Group has acquired Advantage Toyota (now Victory Toyota of Barboursville) and Ball Toyota (now Victory Toyota of Charleston) from Shawn and David Ball. Haig Partners served as exclusive sell-side advisor for the transaction as Victory expands its portfolio to 55 dealerships across 11 states.

Leap Partners has acquired Appalachian Heating, a third-generation HVAC, plumbing and electrical business serving West Virginia and Virginia since 1948, marking Leap Partners' entry into West Virginia. Owners Dan and Daniel Akers will remain in leadership as Appalachian Heating joins Leap Partners' growing portfolio, which will provide additional resources, technology and regional support.

The Firmament Group has recapitalized Whitecap Waste Holdings, LLC, a West Virginia-based solid waste collection and disposal company founded in 2019. The transaction represents a recapitalization/ownership transition involving prior investors (including Mollitiam Holdings and Whitecap Enterprises) and positions Firmament to support the company’s regional waste collection and disposal operations under existing management.

JENNMAR, a FalconPoint Partners portfolio company, acquired the assets of the Holden, West Virginia cement blending facility of Wright-Mix Material Solutions, LLC. The facility will be added to JENNCHEM's manufacturing footprint to secure supply and expand production of J-SEAL and other blended cement products for mining and construction customers.

Energy Services of America Corporation, through its subsidiary Nitro Construction Services, has acquired Heritage Painting, LLC, an industrial and commercial painting contractor operating in West Virginia and surrounding areas. The acquisition adds industrial/commercial coating and floor-coating capabilities to Energy Services/Nitro’s service offering and expands its services into Heritage’s existing end markets, including fabrication and oil & gas.

Turnspire Capital Partners LLC (through an affiliate) has acquired Swanson Industries, a Morgantown, West Virginia–headquartered provider of manufacturing, remanufacturing, repair, and distribution services for mining equipment and hydraulic cylinders. The transaction includes Swanson’s controlling stake in Tiefenbach North America and is intended to support operational improvements, capability expansion, and strategic growth under Turnspire’s partnership with management.

Tencarva Machinery Company, backed by Bessemer Investors, has acquired Tri-State Coating & Machine, a Salt Rock, West Virginia-based provider of specialized thermal coating services and rotating equipment repair. The deal will add thermal spray coating capabilities to Tencarva's value‑added service offerings; Tri-State's founder David Thompson will retire and existing management and employees will remain with the business.

Oldcastle APG, a CRH Company, has acquired the assets of Lowe Products Company, including a Shepherdstown, West Virginia facility, to strengthen its lawn & garden capabilities in the Mid-Atlantic and improve service to the Washington, D.C. market. The assets—bulk and bagged mulches, soils and compost—are being integrated into Oldcastle APG’s outdoor living product portfolio to expand geographic coverage and product capability across North America.

Firmament (through funds it manages) completed a recapitalization of Whitecap Waste, a regional solid waste collection company serving over 30,000 customers in southern West Virginia. The seller was Mollitiam Holdings; Whitecap Waste President Michael Schmidt will remain in his role and Firmament said the investment will support growth, operational capability expansion, and entry into new geographies.