Tracked deals
665
665 tracked deals across 2002-2026.
Tracked deals
665
665 tracked deals across 2002-2026.
Buyer mix
Mixed buyer set
502 strategic · 356 pe
Top trend
Volume peaked in 2021
106 tracked deals announced in 2021.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Borgman Capital | 7 | Private investment firm focused on lower middle market ac... | PE |
| Benford Capital Partners | 5 | Chicago-based private equity firm focused on buying and b... | PE |
| Rotunda Capital Partners | 5 | Operationally oriented private equity firm focused on tra... | PE |
| Clearlake Capital Group, L.P. | 4 | Sector-focused private investment firm investing across p... | PE |
| H.I.G. Capital | 4 | Global alternative investment firm providing debt and equ... | PE |
| Midwest Growth Partners | 4 | Lower-middle-market private equity firm investing in manu... | PE |
| Bank First Corporation | 3 | Public bank holding company and operator of Bank First, a... | Strategic |
| Blackwell Capital Group, LLC | 3 | Privately held investment firm focused on acquiring major... | PE |
| CORE Industrial Partners | 3 | Industrials-focused private equity firm investing in Nort... | PE |
| Dental Care Alliance | 3 | Dental support organization (DSO) that partners with and ... | Strategic (PE-backed) |
Last 10 years
Supporting Data
Brightstar Capital Partners acquired Erdman, an architecture and engineering firm specializing in healthcare and senior living facilities. The deal adds a nationally licensed healthcare design specialist to Brightstar’s architecture and design platform, which was established with the 2025 acquisition of KZF Design and now includes Erdman alongside KZF Design.
Bank First Corporation has signed an agreement to acquire PSB Holdings, Inc., the parent company of Peoples State Bank, in an all-stock transaction valued at approximately $202.9 million. The merger is intended to expand Bank First’s community banking footprint across North Central Wisconsin and the greater Milwaukee area, with closing and systems conversion expected in the fourth quarter of 2026.
GreyLion Partners LP announced a new partnership and strategic investment in Tanis Brush, a manufacturer of industrial and abrasive brushes. Terms of the transaction were not disclosed, and Tanis Brush will continue operating from its Delafield, Wisconsin headquarters under current management.
Phoenix Lighting, a portfolio company of JMC Capital Partners, completed its acquisition of Rig-A-Lite LLC, a Texas-based manufacturer of industrial and commercial lighting solutions. The transaction closed effective May 14, 2026, with Rig-A-Lite continuing to operate under its existing brand from its Houston facilities.
Vector Science & Therapeutics entered into an option agreement to purchase up to a 15% equity interest in LyoGenesis Plus for cash payments of up to US$1.0 million over three years. Through LyoGenesis Plus’s planned acquisition of MPP Group LLC, Vector would secure long-term access to an FDA-registered, cGMP-compliant contract development and manufacturing organization based in Mequon, Wisconsin.
Fiserv has entered into a definitive agreement with Bridgeport Partners to form a joint venture that will encompass Fiserv’s ATM Managed Services, Cash 26 Logistics, and MoneyPass businesses. The transaction is subject to regulatory approvals and customary closing conditions, and Bridgeport Partners is expected to assume operational control upon closing.
Graycliff Partners has acquired Tramont Manufacturing, a Milwaukee-based manufacturer of custom-engineered generator enclosures and fuel tanks used in backup power systems. The deal is aimed at expanding Tramont’s manufacturing capacity, investing in systems and infrastructure, and strengthening commercial capabilities, with particular focus on growing data-center and grid resiliency demand.
Seaga Manufacturing, a private equity-backed automated retail and intelligent inventory solutions company, announced it has acquired Three Square Market to expand its micromarket capabilities. The deal combines Three Square Market’s micromarket kiosks, payment technology, software platforms, and market design/build services with Seaga’s vending and intelligent inventory technologies to offer operators a more complete unattended retail platform. Financial terms were not disclosed.
Chandler Industries, a BTX Precision platform company, announced the acquisition of Aztalan Engineering in a strategic tuck-in/add-on transaction. The deal is intended to expand Chandler’s precision machining capacity and improve support for mission-critical customers serving regulated end markets, while Aztalan continues operating under its existing management team.
Spectrum Brands Holdings entered into a definitive agreement for a $127 million investment from Oaktree Capital Management in its Home and Personal Care (HPC) business. The deal includes $67 million of convertible preferred equity and a $60 million lien term loan recourse only to the HPC segment, with Oaktree receiving about a 27% stake upon closing.
Carson Group, a wealth advisory firm, has acquired Harbor Wealth Management, a Green Bay, Wisconsin-based advisory firm managing approximately $396 million in assets under management. The Harbor Wealth team will transition as an integrated office and rebrand as a Carson Wealth office in Green Bay.
FyterTech Nonwovens acquired Spill Solutions Canada, also known as ESP Canada, to strengthen its local service and commitment to the Canadian market. The deal was completed and will combine the organizations to form Fytertech Nonwovens Canada Ltd, improving localized inventory, support, and regional expertise for customers across Canada and North America.
Brkthru, a performance-driven media and marketing services company, announced it has acquired Gigawatt, a Milwaukee-based programmatic media partner for agencies and brands. The deal is intended to expand Brkthru’s integrated, full-funnel media and marketing capabilities and deepen expertise in hospitality and tourism marketing. Financial terms were not disclosed.
GFL Environmental acquired TOGO Disposal, a locally owned commercial waste and recycling collection business in Milwaukee, Wisconsin. The transaction closed on April 1, 2026, and TOGO Disposal’s addition is intended to expand GFL’s geographic footprint throughout Wisconsin.
U.S. Lubricants has acquired Pack Logix, a turnkey packaging leader, to expand its packaging and toll blending manufacturing capabilities and capacity. The deal will integrate Pack Logix’s team and operations over the next year, aiming to provide customers with faster turnaround times, more packaging options, and streamlined supply chain support.
Parnell announced it has acquired Noble Pharma LLC, a U.S.-based pharmaceutical manufacturer, under a Securities Purchase Agreement dated November 26, 2025. The deal adds an FDA- and DEA-accredited manufacturing facility in Menomonie, Wisconsin, to strengthen Parnell’s U.S. manufacturing capabilities and supply continuity.
Littlejohn Capital has completed the sale of Maysteel Industries, a Wisconsin-based provider of custom metal enclosures and precision fabricated solutions, to Steele Solutions, a portfolio company of Revelar Capital. The acquisition expands Steele Solutions’ engineered-products capabilities and deepens its position in fast-growing data center and electrical infrastructure end markets.
GenNx360 Capital Partners’ portfolio company, Heartland Business Systems (HBS), acquired Applied Tech Solutions, a Madison, Wisconsin-based provider of managed IT and cybersecurity services. The acquisition adds Applied Tech’s AI-enabled service delivery platform and expands HBS’s managed services and cybersecurity capabilities across the Midwest and Rocky Mountain regions.
BPOC has completed the sale of Midwest Products & Engineering (“MPE”), a Milwaukee-based contract designer, developer and manufacturer of complex electromechanical and robotic-assisted surgical systems, to Graham Partners. The deal marks BPOC’s exit following its 2019 acquisition with MPE CEO Hank Kohl and the management team.
Socium Advisors announced it is integrating Amplify Wealth Partners into its platform. The acquisition expands Socium’s retirement planning, group benefits, and comprehensive wealth management capabilities, while preserving Amplify’s existing Milwaukee office presence and client advisory relationships.
Pellitteri Waste Systems, Inc. acquired Pink Dumpsters, LLC, a fast-growing dumpster rental business serving southeastern Wisconsin. The transaction closed on April 1, 2026, and Pellitteri said it will use Pink Dumpsters to expand its geographic density throughout Wisconsin.
LEWHP, LLC, a wholly owned indirect subsidiary of WH Topco, L.P. doing business as WHP Global, announced the expiration of its tender offer to purchase up to 2,222,222 shares of Lands' End, Inc. at $45.00 per share in cash. As of the March 31, 2026 expiration time, 29,243,942 shares were tendered and not withdrawn, and the purchaser accepted 2,222,222 shares on a pro rata basis.
Traffic and Parking Control Co., LLC (TAPCO), a provider of intelligent transportation systems (ITS), announced the acquisition of MS2 (Midwestern Software Solutions), a transportation data management software and analytics company. The deal aims to unify connected ITS device and traffic data platforms to expand TAPCO’s ability to collect, manage, analyze, and deliver traffic count data for transportation agencies across North America.
Radial Equity Partners announced an investment in Thomas Precision Machining (TPM), a provider of replacement parts, service, and equipment for industrial processing applications serving the protein and food processing industries. The partnership is intended to support TPM’s continued growth and operational expansion, including further investment in people, processes, and capabilities. Financial terms were not disclosed, and Tom Goeke will serve as Chairman while Kevin Nyara transitions out as outgoing CEO and owner.
H&T Presspart, a division of the Heitkamp Thumann Group, acquired a majority stake in Plas-Tech Engineering. The transaction closed in November 2025 and expands H&T Presspart’s manufacturing footprint into the United States by adding Plas-Tech’s medical device manufacturing site in Lake Geneva, Wisconsin.
BV Investment Partners has made a majority investment in Moxe Health, an EHR-neutral clinical data exchange platform that enables secure, automated sharing of clinical data between providers and health plans. The partnership is intended to support Moxe’s next phase of growth by accelerating network expansion and deepening embedded EHR relationships.
AeriTek Global Holdings acquired Federal Industries in a carve-out transaction from Standex International Corporation. The deal strengthens AeriTek’s U.S. foodservice manufacturing and distribution platform by adding Federal’s vertically integrated manufacturing facility in Belleville, Wisconsin and its dealer/distributor network.
Power Solutions International, Inc. (PSI) has acquired 100% of MTL Manufacturing & Equipment Inc. (MTL) in a transaction financed with PSI’s existing cash reserves and the assumption of certain equipment-related debt. MTL is a metal and steel fabricator based in Beloit, Wisconsin, producing components such as switchgear subbases and electrical enclosure assemblies used in power generation and data center applications.
One Call entered into an agreement to acquire Data Dimensions, an EDI clearinghouse and technology services provider for healthcare, insurance, and government customers. The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals, and will bring Data Dimensions employees into One Call to build a more connected care coordination and data/payment platform.
Spell Capital Partners, acting through the Spell Family Office, acquired MacDonald & Owen in partnership with the company’s existing management team. The investment is described as a long-term, values-driven ownership arrangement, with leadership continuing and maintaining a meaningful stake.
Quantum Surgical has acquired NeuWave Medical and combined both businesses under a newly created parent, Precision IO Group Inc., to expand a robotic-assisted tumor ablation platform. The deal is supported by investment from Ally Bridge Group and aims to integrate Quantum Surgical's Epione robotic system with NeuWave's microwave ablation technology to broaden access to minimally invasive interventional oncology care.
On Track Partners, a residential and commercial garage door services platform, acquired Carey's Seamless Gutters & Overhead Doors, a southern Wisconsin provider of seamless gutters as well as garage door installation, service, and repair. The deal expands On Track Partners’ Midwest footprint while Carey’s will continue operating under its existing name with its leadership team and employees remaining in place.
Tavoron, a national automation and industrial solutions provider, acquired Doig Corporation, a factory automation distributor headquartered in Cedarburg, Wisconsin. The deal strengthens Tavoron’s automation distribution segment and expands its presence in the Upper Midwest by adding complementary product capabilities and application-level expertise.
Insight Equity Holdings has acquired IKI Manufacturing, a contract manufacturer and contract packager of aerosol products headquartered in Edgerton, Wisconsin. The deal is intended to support IKI’s management team with continued product and service innovations in the aerosol market.
Leo, an Orion Group-backed facilities services network, announced major investments that effectively merge Bevara Building Services and Blackfin into its expanding national platform. The combined operation integrates nearly 300 on-site building engineers across the United States to deepen Leo’s enterprise service capabilities.
PlayPower signed a definitive agreement to acquire BCI Burke, a manufacturer of commercial playground equipment. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.
Keller, a Kaukauna, Wisconsin–based design-build general contractor, has acquired Appleton-based Hoffman Planning, Design & Construction, Inc. Hoffman will operate as “A Keller Company” while retaining its brand and local office; leadership changes include Sam Statz moving to a business development role and Chad Ulman leading Hoffman. The combination aims to bring complementary markets and expand Keller’s project delivery and design-build capabilities while preserving operational continuity.
KI Wall, a division of KI, has acquired Wausau-based glass fabricator Custom Glass Products, LLC–Wisconsin (CGP-WI). The acquisition strengthens KI Wall's fabrication alignment for storefront and glass-intensive wall systems, improving lead times, customization and responsiveness while CGP-WI will continue to operate as a standalone business.
Source One Staffing has acquired regional staffing firm TempsNow to expand its Midwest footprint and deepen coverage in industrial end markets including manufacturing, logistics and warehousing. Financial terms were not disclosed; TempsNow employees will join Source One and the combined organization will operate under the Source One Staffing brand.
HPS/PayMedix closed $33 million of equity and debt financing to accelerate national growth of its healthcare financing and payments platform. The round was led by HLM Investment Partners ($16M growth equity) and included Escalate Capital Partners (providing a $17M term debt facility), RVM Enterprises, and existing investor SV Health Investors.
Captura, a software platform serving high-volume photography studios, has acquired Studio Source Yearbooks to integrate yearbook production support and operational execution into Captura’s ecosystem. The acquisition brings Studio Source’s yearbook operations, administrative dashboard, ecommerce, printing and fulfillment capabilities into Captura to streamline yearbook workflows and reduce administrative burden for studios and schools.
PPC, a family investment firm based in Chicago, has acquired NaturPak, a Janesville, Wisconsin-based co-manufacturer of bone broths, soups, sauces, wet pet food and ingredient products. NaturPak's CEO Aaron Jackson will continue to lead the business as PPC supports growth through investments in R&D, product development, capability expansion and new packaging formats; terms were not disclosed.
Bank First Corporation (holding company of Bank First, N.A.) completed its acquisition of Centre 1 Bancorp, Inc., the parent company of The First National Bank and Trust Company, in an all-stock transaction. The deal expands Bank First’s services into trust and wealth management and increases its footprint across Wisconsin and the Stateline area of Illinois.
Royal FrieslandCampina N.V. has successfully closed its acquisition of Wisconsin Whey Protein, a US-based producer of whey protein isolates. The acquired business will be integrated into FrieslandCampina’s Ingredients group to expand whey protein capacity and extend FrieslandCampina’s presence in North America.
LongueVue Capital (LVC) has recapitalized Saelens, a Johnson Creek, Wisconsin-based precision manufacturing platform, partnering with the company’s management to support continued growth and investments in automation and global sourcing. As part of the transaction LVC provided growth capital while related real estate was sold to Royal Oak Realty Trust; Saelens operates under the trade names Diamond Precision Products and Coupling Nut Supply and employs ~230 people.
Kunes Auto & RV Group has acquired Quietwoods RV and Scenic RV, adding store locations across Wisconsin including Sturgeon Bay, Fox Valley, Slinger, Wisconsin Dells and Janesville. The deal expands Kunes' RV retail, service and storage capacity in key camping communities while preserving existing staff and the acquired brands' local names.
Value Added Distributors (VAD), a PE-backed distributor and fabricator, has acquired L.T.L. Supply, a family-operated wire harness and electrical-assembly manufacturer based in Green Bay, Wisconsin. The add-on expands VAD's manufacturing capabilities and electrical solutions offering, bolstering its service to specialty vehicle OEMs and other mobile fluid power customers; Rotunda Capital Partners, VAD's private equity backer, supported the platform strategy.
EPIC Insurance Brokers & Consultants has acquired Sentry Transportation's direct writing operation, a carve-out from Sentry Insurance that brings more than 500 transportation clients and the associated team. The acquired operation and team will join EPIC's Interstate Motor Carriers business, strengthening EPIC's national Transportation & Logistics practice and trucking insurance capabilities.
School Specialty, a leading PreK-12 learning environments and supplies provider headquartered in Greenville, Wisconsin, has acquired Nasco Education U.S., a developer and distributor of hands-on instructional materials based in Fort Atkinson, Wisconsin. The acquisition expands School Specialty’s product portfolio and procurement efficiencies for K-12 customers while both businesses operate independently during an integration period.
Gerard Daniel Worldwide (a Graycliff Partners portfolio company) has acquired Durex Products, Inc., a Luck, Wisconsin-based manufacturer of urethane wear parts and screening media, from Borgman Capital. The add-on deal will keep Durex operating in Wisconsin and aims to expand GDW's manufacturing capabilities, distribution reach and product portfolio across aggregate, mining, recycling and related industrial markets; terms were not disclosed.
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