NepFin DealWatch as of April 5, 2021

Apr 05, 2021

NepFin DealWatch is the definitive source for the latest deals in the lower middle market. For the week preceding April 05, here are some of the most recent transactions. To see one of your deals featured, please submit the details here.

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Business Services

  • Francisco Partners acquired BARBRI, a Dallas, TX-based provider of legal education and specialized training services, from Leeds Equity Partners; Centerview Partners and Robert W. Baird advised on the transaction
  • Falfurrias Capital Partners invested in Carolina Foods, a Charlotte, NC-based manufacturer of sweet baked goods
  • Chair-man Mills, backed by McCain Capital Partners, acquired Contemporary Furniture Rentals, a Toronto, ON-based provider of furniture rental and event services
  • Aurora Capital Partners acquired Curtis Bay Medical Waste Services, a Baltimore, MD-based provider of medical waste collection, treatment, and disposal services, from Summer Street Capital Partners; Stifel Nicolaus and Baird advised on the transaction; Antares financed the transaction
  • CoolSys, backed by Ares Management, acquired Duquette Refrigeration, a Worcester, MA-based provider of commercial refrigeration and HVAC services
  • Magna Legal Services, backed by CIVIC Partners, acquired Kim Tindall & Associates, a San Antonio, TX-based provider of court reporting and medical record retrieval services
  • Black Lake Capital and Source Capital acquired (i) SCApath, a Boulder, CO-based provider of supply chain consulting services, and (ii) Spinnaker, a Houston, TX-based provider of supply chain consulting services
  • Sentinel Capital Partners acquired TranSystems, a Kansas City, MO-based provider of transportation engineering, architectural, and design consulting services
  • Additional transactions


  • Align Capital Partners acquired Custom Veterinary Services, a Miami, FL-based provider of nutritional supplements, dermatological, and grooming products
  • WhiteWater Express Car Wash, backed by SkyKnight Capital, acquired HyperShine Car Wash, a Dacatur, IL-based operator of 10 car wash facilities
  • Wellbeam Consumer Health, backed by American Pacific Group, acquired Penetrex, a San Diego, CA-based provider of joint & muscle relief and recovery products
  • Service Champions, backed by Odyssey Investment Partners, acquired Sierra Air, a Reno, NV-based provider of home services
  • Brand Holdings, backed by Kidd & Company and T-street Capital, acquired Simple Botanics, a Chicago, IL-based provider of herbal teas and snack bars
  • Rockit Pest, backed by Halle Capital Management, acquired Spencer Pest Services, a Greenville, SC-based provider of general pest control services
  • Additional transactions

Financial Services-1

  • Marpai Health, backed by Rainmaker Private Equity, acquired Continental Benefits, a Tampa, FL-based provider of third party administration services
  • Kestra Financial, backed by Warburg Pincus, invested in Elevation Financial Group, a Santa Fe, NM-based provider of financial planning and investment services
  • High Street Insurance Partners, backed by Huron Capital, acquired (i) Elliott Hartman Agency, a Waterloo, IA-based provider of transportation insurance products, and (ii) Wall Street Insurance, an Edwards, CO-based provider of personal protection and business insurance products
  • USI Insurance Services, backed by CDPQ and KKR, acquired the Insurance Business offered through Northwest Insurance Services from Northwest Bank, a Warren, PA-based provider of financial services
  • MAI Capital Management, backed by Wealth Partners Capital Group, acquired Ownership Advisors, a Cleveland, OH-based provider of financial planning and wealth management services
  • Payroc, backed by Parthenon Capital Partners, acquired Retriever Merchant Solutions, a Munster, IN-based provider of payment processing services
  • Advisor Group, backed by Reverence Capital Partners, acquired Rosenblum Wealth Management, a Flemington, NJ-based provider of wealth management services
  • Odyssey Investment Partners acquired SIAA, a Hampton, NH-based provider of insurance brokerage services; Goldman Sachs & Co and Piper Sandler advised on the transaction
  • Prime Capital Investment Advisors, backed by LNC Partners, acquired Sphere Wealth Management, a Fayetteville, AR-based provider of financial planning services
  • Additional transactions

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  • SignatureMD, backed by Blue Sea Capital, acquired Cypress Membership Medicine, a Franklin, TN-based provider of membership-based concierge medicine; CapM Advisors advised on the transaction
  • Planet Smile Partners, backed by Halle Capital Management, acquired Dentistry for Children Westchester, a Hastings on Hudson, NY-based provider of pediatric dental care
  • Northlane Capital Partners invested in Empower Community Care, an Atlanta, GA-based provider of behavioral health services
  • Ivy Rehab, backed by Waud Capital Partners, acquired Little Steps Pediatric Therapy, a Glenview, IL-based provider of pediatric physical, occupational, and speech therapy services
  • New Harbor Capital completed the sale of Ocean State Healthcare, a Pawtucket, RI-based provider of primary care services, to VillageMD
  • Sound Physicians, backed by Summit Partners, acquired Southwest Pulmonary Associates, a Dallas, TX-based provider of critical care and pulmonary medicine services
  • Additional transactions


  • MacQueen Equipment, backed by Rotunda Capital Partners, acquired Bell Equipment, a Lake Orion, MI-based provider of environmental equipment
  • VRC Engineered Solutions, backed by Blue Point Capital Partners, acquired Cascadia Custom Molding, a Coeur d’Alene, ID-based provider of thermoplastic components
  • Airxcel, backed by L Catterton, acquired Cleer Vision Windows, an Elkhart, IN-based manufacturer of windows and tempered glass for RVs and specialty vehicles
  • Imperial Dade, backed by Bain Capital Private Equity, acquired Dalco Enterprises, a New Brighton, MN-based distributor of janitorial supplies
  • MW Industries, backed by American Securites, acquired Duer Carolina Coil, a Greer, SC-based manufacturer of coil springs
  • NovaSource Power Services, backed by Clairvest Group, acquired the North American Operations and Maintenance business of First Solar, a Tempe, AZ-based provider of photovoltaic systems
  • American Construction Source, backed by Angeles Equity Partners and Clearlake Capital, acquired (i) Foley Lumber, a Foley, MN-based provider of lumber, and (ii) Milaca Building Center, a Milaca, MN-based provider of building materials; CliftonLarsonAllen Wealth Advisors advised on the transaction
  • The Cook & Boardman Group, backed by Littlejohn & Co, acquired H & H Door, a Victoria, TX-based provider of doors, access control, intrusion detection, and fire systems
  • Shore Capital Partners acquired Innovative Packaging Company, a Vancouver, WA-based provider of packaging products
  • Fabcon Precast, backed by Solace Capital Partners, acquired Kerkstra Precast, a Grand Rapids, MI-based provider of precast and prestressed concrete products
  • Stellex Capital Management acquired the US-based Conveying business unit of Komatsu Mining, a Milwaukee, WI-based manufacturer of material handling conveyor systems and components
  • Premium Label & Packaging Solutions, backed by Dunes Point Capital, acquired Label Graphics Manufacturing, a Little Falls, NJ-based converter of custom pressure sensitive labels and shrink sleeves
  • Brighton Park Capital invested in OPSWAT, a Tampa, FL-based provider of critical infrastructure protection cybersecurity software; Cowen advised on the transaction
  • Jones Capital acquired Rockport Terminals, a Houston, TX-based operator of an intermodal terminal providing bulk handling services
  • FleetPride, backed by American Securites, acquired Southern Truck Center, a Birmingham, AL-based provider of truck repair and maintenance services
  • The Marwin Company, backed by Validor Capital, acquired SS Industries, a Collegeville, PA-based provider of building materials
  • J.F. Lehman & Company invested in Trillium Engineering, a Hood River, OR-based designer and manufacturer of camera gimbals for unmanned aerial systems
  • Additional transactions


  • Thoma Bravo invested in Applitools, a San Mateo, CA-based provider of visual test automation software; William Blair and Baird advised on the transaction
  • Carrus, backed by Revelstoke Capital Partners, acquired Archetype Innovations, a Duluth, MN-based provider of electronic health record education software
  • Dynamic Quest, backed by Spire Capital, acquired BoxMeta, a Jacksonville, FL-based provider of managed IT services
  • New Charter Technologies, backed by Oval Partners, invested in Braver Technology, a Taunton, MA-based provider of managed IT services
  • Net Health, backed by Level Equity and The Carlyle Group, acquired Casamba, an Agoura Hills, CA-based provider of healthcare management software, from Abry Partners
  • Logically, backed by The Riverside Company, acquired Cerdant, a Dublin, OH-based provider of managed security services
  • Cloudmed, backed by New Mountain Capital, acquired Databound, an Ithaca, NY-based provider of healthcare revenue cycle software
  • Ethos Capital acquired Donuts, a Bellevue, WA-based provider of domain name registry services, from Abry Partners
  • Enverus, backed by Genstar Capital, acquired Energy Acuity, a Denver, CO-based provider of power generation and power delivery market data
  • Spectrio, backed by The Jordan Company, acquired Enplug, a Culver City, CA-based provider of digital signage software
  • K2 Insurance Services, backed by Lee Equity, invested in Loss Run Pro, a Missoula, MT-based provider of insurance software
  • Appfire, backed by TA Associates, acquired Mohami, a Los Angeles, CA-based developer of Atlassian plugins
  • Additional transactions


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Deal information described in DealWatch is obtained from publicly available sources or as communicated to NepFin without restrictions on confidentiality. NepFin makes efforts to ensure the information provided is accurate as of the date of its collection, but NepFin cannot guarantee that there will be no errors. NepFin makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of the newsletter and expressly disclaims liability for errors and omissions in the contents of this newsletter.

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