NepFin DealWatch as of April 26, 2021

Apr 26, 2021

NepFin DealWatch is the definitive source for the latest deals in the lower middle market. For the week preceding April 26, 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

  • Bertram Capital acquired AFC Industries, a Fairfield, OH-based provider of supply chain management services; Piper Sandler advised on the transaction
  • Turning Basin Capital acquired Commercial Energy Specialists, a Jupiter, FL-based provider of water treatment solutions; Parcrest Advisors advised on the transaction
  • Aquiline Capital Partners and Stone Point Capital acquired (i) Consilio, a Washington, DC-based provider of eDiscovery, risk management, and legal consulting services, from GI Partners, and (ii) Xact Data Discovery, a Mission, KS-based provider of eDiscovery, data management, and managed review services, from JLL Partners; Jefferies, William Blair and Houlihan Lokey advised on the transaction
  • Integrity Marketing Group, backed by Harvest Partners and HGGC, acquired Deft Research, a Minneapolis, MN-based provider of health insurance consumer insights and market information
  • Landon Capital Partners and Serata Capital Partners invested in Fusion92, a Chicago, IL-based provider of marketing services; CG Petsky Prunier advised on the transaction; Wintrust Bank financed the transaction
  • Validant, backed by GHO Capital, acquired Greenleaf Health, a Washington, DC-based provider of FDA regulatory consulting services; Fairmount Partners and RSM Global advised on the transaction
  • Rapid Displays, backed by Gemspring Capital, acquired Outform, a Miami, FL-based provider of merchandising services for retailers; the two companies will be merged
  • Bold Orange, backed by Mountaingate Capital, acquired Three Deep Marketing, a St. Paul, MN-based provider of digital marketing services
  • Pye-Barker Fire & Safety, backed by Leonard Green & Partners, acquired T & S Fire and Security, a Greensboro, NC-based provider of fire protection services
  • Otodata Technologies, backed by Renovo Capital, acquired Wise Telemetry, a Pittsburgh, PA-based provider of remote monitoring devices and services for the industrial gas industry
  • Additional transactions

Consumer

  • Crestview Partners acquired Auto Lenders, a Voorhees, NJ-based platform for financing, buying, and selling automobiles; UBS Investment Bank advised on the transaction
  • SavATree, backed by CI Capital Partners, acquired Branches Tree Experts, a Kensington, MD-based provider of arboriculture and forestry consulting services
  • West Shore Home, backed by Leonard Green & Partners, acquired Hullco, a Chattanooga, TN-based provider of home remodeling services
  • TZP Small Cap Partners acquired Itzy Ritzy, a Naperville, IL-based provider of baby products; Brown Gibbons Lang & Company advised on the transaction; PineBridge Investments financed the transaction
  • The Riverside Company acquired (i) MaidPro, a Boston, MA-based provider of residential and light commercial cleaning services, (ii) FlyFoe, a Boston, MA-based provider of mosquito and tick control services, and (iii) Men in Kilts, a Boston, MA-based provider of window cleaning, power washing, and gutter cleaning services; the companies will comprise a newly formed trade services platform called Threshold Brands
  • Evriholder Products, backed by JZ Partners and The Edgewater Funds, acquired Murray Sales, a Montreal, QC-based provider of kitchenware products
  • Pure Fishing, backed by Sycamore Partners, acquired Plano Synergy, a Grand Prairie, TX-based provider of fishing equipment and storage products; as part of the transaction, Plano Synergy sold its hunting accessories and archery brands to GSM Outdoors, backed by Gridiron Capital
  • Wrench Group, backed by Leonard Green & Partners, acquired Red Cap Plumbing & Air, a Tampa, FL-based provider of plumbing, heating, and cooling services
  • The Recreational Group, backed by Eagle Merchant Partners, acquired (i) Turf Factory Direct, a Resaca, GA-based distributor of artificial turf, (ii) EasyGrass, a Miami, FL-based supplier and installer of artificial turf products, and (iii) Synthetic Grass Pros, a Dallas, TX-based distributor and installer of turf
  • An affiliate of H.I.G. Capital invested in Windows USA, a Royal, AR-based provider of replacement vinyl windows to homeowners; Stephens advised on the transaction
  • Additional transactions

Financial Services-1

  • AssuredPartners, backed by GTCR and HarbourVest Partners, acquired Biglow & Company, a Fox Lake, IL-based independent insurance agency
  • Pineywoods Benefits, backed by Katz Capital, acquired the Employee Benefits Division of Blu Sky Benefits, a Tampa, FL-based provider of employee benefits and 401(k) advisory services
  • Relation Insurance Services, backed by Aquiline Capital Partners, acquired Clark Farley Insurance, a Columbia, SC-based provider of insurance brokerage services
  • The Hilb Group, backed by The Carlyle Group, acquired Clarus Benefits Group, a Houston, TX-based provider of employee benefits and human resources consulting services
  • Alliant Insurance Services, backed by Stone Point Capital, acquired Confie, a Huntington Beach, CA-based provider of insurance brokerage services, from Abry Partners; J.P. Morgan advised on the transaction
  • CoastalSouth Bancshares, backed by GCP Capital Partners, acquired Cornerstone Bank, an Atlanta, GA-based provider of banking services; The Burke Group and Piper Sandler advised on the transaction
  • Beacon Pointe Advisors, backed by Abry Partners, acquired D.R. Saur Financial, a Dallas, TX-based provider of investment advisory services; DeVoe & Company advised on the transaction
  • Ontario Teachers' Pension Plan Board and Stella Point Capital completed the sale of First American Payment Systems, a Fort Worth, TX-based provider of electronic payment services, to Deluxe; Cowen advised on the transaction
  • Relation Insurance Services, backed by Aquiline Capital Partners, acquired Santo Insurance & Financial Services, a Salem, NH-based independent insurance agency
  • Additional transactions

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Healthcare

  • Flexpoint Ford acquired Canadian Hospital Specialties, an Oakville, ON-based manufacturer of disposable medical and surgical products, from Cortec Group; Harris Williams, TM Capital and Cain Brothers advised on the transaction
  • Apex Physics Partners, backed by Blue Sea Capital, acquired D. Harris Consulting, an Arlington, TX-based provider of nuclear medicine consulting services
  • Comprehensive EyeCare Partners, backed by Gauge Capital, acquired Evergreen Eye Center, a Federal Way, WA-based provider of medical and surgical eye care services; Bailey Southwell advised on the transaction
  • Safeguard Medical, backed by Water Street Healthcare Partners, acquired H&H Medical Corporation, a Williamsburg, VA-based producer of trauma products
  • TPG Growth invested in Implantable Provider Group, an Alpharetta, GA-based provider of surgical cost management solutions; Deutsche Bank and Triple Tree advised on the transaction
  • Recovery Ways, backed by Chicago Pacific Founders, acquired (i) Omega Recovery, an Austin, TX-based provider of technology addiction and mental health treatment services, (ii) Breakthrough Recovery Group, a Spokane, WA-based provider of addiction and mental health outpatient services, and (iii) Colonial Clinic, a Spokane, WA-based provider of outpatient alcohol and drug treatment services
  • Probo Medical, backed by Varsity Healthcare Partners, acquired SonoDepot, a St. Cloud, FL-based provider of ultrasound maintenance, service, repair and sales
  • Rock Mountain Capital invested in Spark Orthodontics, a Bethlehem, PA-based provider of orthodontic services
  • Additional transactions

Industrials

  • Alinda Capital Partners acquired ACL Airshop, a Greenville, SC-based provider of unit load devices and logistics products
  • Madison Dearborn Partners acquired the Precision Components Business Group of ARCH Global Precision, a Bloomfield Hills, MI-based manufacturer of hard-metal and aluminum components, and portfolio company of The Jordan Company; Lincoln International advised on the transaction
  • Parts Town, backed by Berkshire Partners, acquired Dayton Appliance Parts, a Dayton, OH-based distributor of residential appliance parts
  • ProAmpac, backed by Pritzker Private Capital, acquired El Dorado Packaging, a Rosemount, MN-based producer of consumer and industrial packaging solutions, from Industrial Opportunity Partners; Mesirow Financial advised on the transaction
  • Arcline Investment Management acquired (i) Electric Power Systems, a Maryland Heights, MO-based provider of electrical testing and engineering services, and (ii) North American Substation Services, an Altamonte Springs, FL-based provider of installation, repair, and maintenance services for electrical substations, from Industrial Growth Partners; Harris Williams advised on the transaction
  • Duravant, backed by Warburg Pincus, acquired Foodmate, a Ball Ground, GA-based manufacturer of poultry processing equipment
  • FleetPride, backed by American Securites, acquired Steubenville Truck Center, a Steubenville, OH-based provider of truck parts and service
  • Tiger Infrastructure Partners invested in Summit Carbon Solutions, an Alden, IA-based provider of carbon capture and storage services
  • TorQuest Partners acquired Xypex, a Richmond, BC-based manufacturer of waterproofing materials for concrete structures
  • Additional transactions

TMT

  • GI Partners invested in Aras, an Andover, MA-based provider of industrial software; Goldman Sachs & Co and Evercore advised on the transaction
  • Alpine Investors acquired Aspira, a Dallas, TX-based provider of software for the outdoor recreation industry, from Vista Equity Partners; LionTree Advisors advised on the transaction
  • Luminate Capital Partners invested in Axonify, a Waterloo, ON-based provider of frontline employee training software
  • Battery Ventures invested in Chargify, a San Antonio, TX-based provider of billing and revenue management software
  • HKW acquired CIS Secure Computing, a Dulles, VA-based provider of secure communication and computing software, from Acorn Growth Companies
  • Spectrum Equity invested in Empyrean Solutions, a Woburn, MA-based provider of balance sheet management and risk analysis software
  • Insurity, backed by GI Partners, acquired Instec, a Naperville, IL-based provider of insurance software
  • PSG invested in Kenect, a Lehi, UT-based provider of business texting and communications software; Arbor Advisors advised on the transaction
  • Calero-MDSL, backed by Oak Hill Capital and Riverside Partners, acquired MetaPort, a Coral Gables, FL-based provider of telecom mapping software
  • HCG Associates, backed by Southfield Capital, acquired Protexus, a Conroe, TX-based provider of process safety management software
  • Kayne Partners completed the sale of rfXcel, a Reno, NV-based provider of supply chain software, to Antares Vision Group ; O’Melveny advised on the transaction
  • Jobcase, backed by PSG and Workday Ventures, acquired Upward.net, a San Francisco, CA-based operator of an online job-matching platform
  • Carnegie Learning, backed by Madison Dearborn Partners, acquired Zorbit’s Math, a St John’s, NL-based provider of supplemental math software and curriculum
  • 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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