NepFin DealWatch as of July 27, 2020

Jul 27, 2020

NepFin DealWatch is the definitive source for the latest deals in the lower middle market. For the week preceding July 27, 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

  • Eze Castle Integration, backed by H.I.G. Capital, acquired Alphaserve Technologies, a New York, NY-based provider of infrastructure technology and digital IT services; Leonis Partners advised on the transaction
  • Circa, backed by Gauge Capital, acquired America's Job Exchange, an Andover, MA-based provider of diversity recruitment and OFCCP compliance technology solutions
  • Avision Sales Group (fka I&I Sales Group), backed by Osceola Capital, acquired Apex Reps, a Chicago, IL-based provider of outsourced sales and marketing services for janitorial and sanitation manufacturers
  • The Riverside Company invested in Buildout, a Chicago, IL-based provider of commercial real estate brokerage software
  • Sumeru Equity Partners invested in Ceros, a New York, NY-based SaaS design platform for brands and publishers; Canaccord Genuity advised on the transaction
  • KnowFully Learning Group, backed by NexPhase Capital, acquired CME Outfitters, a Bethesda, MD-based provider of continuing medical education for healthcare providers
  • TENEX Capital Management acquired Consolidated Label Co. and Online Labels, Inc., both based in Sanford, FL-based and providers of custom label printing and flexible packaging solutions; Boxwood Partners advised on the transaction
  • Ascend Technologies, backed by M/C Partners, acquired Infogressive, a Lincoln, NE-based provider of managed security IT services
  • Perceptyx, backed by TCV, acquired the employee insights business of Kantar
  • Sovos, backed by HgCapital, acquired the unclaimed property consulting services and reporting technology assets of Keane, based in New York, NY
  • Dynamic Quest, backed by Spire Capital, acquired Nexxtep Technology Services, a Valdosta, GA-based managed IT services provider; Frontline Capital Partners advised on the transaction
  • Talkwalker, backed by Marlin Equity Partners, acquired Nielsen Social, a New York, NY-based provider of social measurement and audience insights software
  • Lineage Logistics, backed by Bay Grove Capital, acquired Ontario Refrigerated Services, an Ingersoll, ON-based cold storage company; CapCold Group advised on the transaction
  • DC Capital Partners invested in PBK Architects, a Houston, TX-based architectural planning and design firm specializing in educational design; Benchmark International advised on the transaction
  • Amynta Group, backed by Madison Dearborn Partners, acquired Pivotal Solutions, a Fishers, IN-based provider of automotive sales coaching services
  • E Source, backed by Align Capital Partners, acquired StrategyWise, a Birmingham, AL-based artificial intelligence (AI) and machine-learning consulting company
  • Apollo Intelligence Corporation, formed by SARORAS Private Capital, acquired SurveyHealthcareGlobus, a Pocatello, ID-based provider of healthcare data collection and custom survey solutions, from Boathouse Capital
  • Additional transactions

Consumer

  • Dubin Clark acquired Affordable Water Heaters and Plumbing, a Valencia, CA-based provider of water heater replacement, repair and installation services; William & Henry Associates advised on the transaction
  • Clayton, Dubilier & Rice invested in Cheney Brothers, a Riviera Beach, FL-based regional food distributor serving the Southeastern United States; Morgan Stanley advised on the transaction
  • Berkshire Partners acquired CrossFit, a Scotts Valley, CA-based global health and fitness brand
  • Olde Thompson, backed by Kainos Capital, acquired Gel Spice, a Bayonne, NJ-based importer and manufacturer of spices, seasoning, and bakery ingredients
  • Giraffe Foods, backed by Graham Partners, acquired Lounsbury Foods, a Toronto, ON-based manufacturer of horseradish and seafood cocktail sauce
  • Monogram Capital Partners invested in Vive Organic, a Venice Beach, CA-based manufacturer of cold pressed and plant-based wellness shots
  • Additional transactions

Financial Services-1

  • PCF Insurance, backed by HGGC, acquired (i) Avidity Insurance, based in Overland Park, KS, (ii) Moulton Insurance, based in Ware, MA, (iii) Horizon Insurance, based in Bradenton, FL, and (iv) First Fidelity Brokerage, based in New York, NY; the companies are independent insurance brokerages
  • The Hilb Group, backed by The Carlyle Group, acquired (i) CIA Financial Group, based in Shelby Charter Township, MI, and (ii) Eldredge & Lumpkin Insurance Agency, based in Chatham, MA; the companies are independent insurance agencies
  • Integrity Marketing Group, backed by Harvest Partners and HGGC, acquired New Horizons Insurance Marketing, a Decatur, IL-based insurance marketing organizations focused on the Medicare market
  • World Insurance Associates, backed by Charlesbank Capital Partners, acquired Professional Insurance Consulting, a Fort Mill, SC-based independent property-casualty insurance agency; Policastro & Associates advised on the transaction
  • Sarnova (backed by Patricia Industries) announced it will acquire and simultaneously combine Digitech (backed by Pamlico Capital) and the R1 RCM EMS business; the combined business will operate under the Digitech brand; Robert W. Baird & Co. and Evercore advised on the transaction
  • Additional transactions

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Healthcare

  • Nexelis, backed by Ampersand Capital Partners, acquired AIT Bioscience, an Indianapolis, IN-based integrated bioanalytical laboratory with LC-MS and immunoassay testing capabilities
  • Healy Capital Partners and Hunter Street Partners acquired Ark Behavioral Health, a Quincy, MA-based operator of substance use disorder (SUD) treatment facilities
  • Vilex, backed by Squadron Capital, acquired DT MedTech, a Baltimore, MD-based provider of surgical solutions for lower extremity surgeries and procedures
  • Parthenon Capital Partners acquired Nuvem Health, a Mount Laurel, NJ-based provider of pharmacy claims administration and related analytics solutions for healthcare providers
  • West Physics Consulting, backed by LNC Partners, acquired Radiological Physics Consultants, a Winston-Salem, NC-based radiological imaging center
  • Additional transactions

Industrials

  • KPS Capital Partners acquired AM General, a South Bend, IN-based manufacturer of specialized vehicles for military and commercial customers, from MacAndrews & Forbes
  • LINC Systems, backed by Center Rock Capital Partners, acquired Active Sales Co., a Santa Fe, CA-based distributor of industrial fastening products; Mesirow Financial advised on the transaction
  • Harrington Industrial Plastics, backed by Nautic Partners, acquired Aetna Plastics, a Valley View, OH-based provider of industrial plastics and plastic piping systems
  • KPS Capital Partners has agreed to acquire Briggs & Stratton Corporation, a Milwaukee, WI-based producer and seller of gasoline engines for outdoor power equipment through a Chapter 11 process; Wells Fargo, Bank of America, BMO Harris Bank and PNC Business Credit has committed exit financing to the transaction
  • ARCH Global Precision, backed by The Jordan Company, acquired Cling's Aerospace, a Tempe, AZ-based manufacturer of machined parts and other components for the aerospace and defense industries
  • Mu-Del Electronics, backed by Ironwood Capital, acquired Luff Research, a Floral Park, NY-based designer and manufacturer of RF oscillators and synthesizers
  • ThompsonGas, backed by Redwood Capital Investments, acquired the propane operations in northwestern California of Redwood Coast Fuels; The Joseph Hale Co. advised on the transaction
  • Royston Group, backed by Industrial Opportunity Partners, acquired Southern CaseArts, a Bessemer, AL-based designer and manufacturer of merchandising cases for the grocery and convenience store industries
  • SK Capital acquired Techmer PM, a Clinton, TN-based designer and producer of engineered compounds for the plastics and fiber industries; Cerberus Business Finance financed the transaction
  • Additional transactions

 

TMT

  • Kayne Partners invested in FreightWaves, a Chattanooga, TN-based provider of freight data and analytics
  • GrammaTech, backed by Five Points Capital, acquired JuliaSoft, a Verona, Italy-based provider of software verification and static security analysis services
  • Perforce Software, backed by Clearlake Capital and Francisco Partners, acquired Methodics, a San Francisco, CA-based provider of intellectual property lifecycle management and traceability solutions
  • InSite Wireless Group, backed by Catalyst Investors and Macquarie Infrastructure Partners, acquired Repeater Communications Group, a Great Neck, NY-based operator of leased rooftop telecommunications sites
  • 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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