NepFin DealWatch as of March 29, 2021

Mar 29, 2021

NepFin DealWatch is the definitive source for the latest deals in the lower middle market. For the week preceding March 29, 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

  • TPC Training, backed by Frontenac, acquired Above Training, an Orem, UT-based provider of online food safety education programs
  • Snow Phipps Group acquired AI Fire, a Long Beach, CA-based provider of fire and life safety services, from Audax Private Equity; Lincoln International advised on the transaction
  • H.I.G. Capital acquired Hibu, a Cedar Rapids, IA-based provider of digital marketing services; Moelis & Company and Houlihan Lokey advised on the transaction
  • Dunes Point Capital acquired two integrators of material handling automation systems, (i) Hy-Tek Material Handling, based in Columbus, OH, and (ii) WorldSource Integration, based in Batavia, IL; The two companies will be merged; M&T Bank financed the transaction
  • HMP Global, backed by Susquehanna Growth Equity, acquired Kestrel Health Information, an Atlantic Beach, FL-based provider of virtual conferences and content for medical professionals; Grimes, McGovern & Associates advised on the transaction
  • Fingerpaint, backed by Knox Lane, acquired Leaderboard Branding, a Charlotte, NC-based provider of naming and branding services
  • Pye Barker Fire & Safety, backed by Leonard Green & Partners, acquired LPS, a Fort Worth, TX-based provider of life safety services
  • Automotive Keys Group, backed by Kinderhook Industries, acquired Midwest Keyless, a Spring Grove, IL-based remanufacturer and distributor of replacement OEM and aftermarket keyless entry remotes & keys; Conlin & Co. advised on the transaction
  • Ryan, backed by Onex Partners, acquired PTX Tech, a Smyrna, GA-based provider of property tax data and software services
  • KnowFully Learning Group, backed by NexPhase Capital, acquired The Rx Consultant, a Pleasant Hill, CA-based provider of pharmaceutical news and continuing education
  • Additional transactions


  • SavATree, backed by CI Capital Partners, acquired Glynn Tree Experts, a Hanover, MA-based provider of tree care services
  • Go Global Retail acquired Janie and Jack, a San Francisco, CA-based provider of children's apparel
  • Encore Consumer Capital invested in Love Wellness, a New York, NY-based women’s health and wellness brand
  • Mad City Windows & Baths, backed by York Capital Management, acquired New Windows for America, a New Brighton, MN-based provider of home improvement products and services
  • Flynn Restaurant Group, backed by Main Post Partners and Ontario Teachers' Pension Plan Board, acquired 937 Pizza Hut and 194 Wendy's locations in the US from NPC International, a Leawood, KS-based restaurant franchise operator
  • Susquehanna Private Capital invested in Premium Service Brands, a Charlottesville, VA-based franchisor of home service brands; Boxwood Partners advised on the transaction
  • Xponential Fitness, backed by Snapdragon Capital Partners, acquired Rumble, a New York, NY-based provider of fitness classes
  • Additional transactions


Financial Services-1

  • 777 Partners acquired Ensurem, a Clearwater, FL-based provider of insurance products and technology
  • Providence Strategic Growth completed the sale of Pineapple Payments, a Pittsburgh, PA-based provider of payment processing solutions, to Fiserv
  • Additional transactions

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  • Procare LTC, backed by Sverica Capital Management, acquired Allen’s PharmaServ, a Youngstown, OH-based provider of long-term care pharmacy services; Harbor Healthcare Consultants advised on the transaction
  • Gulf Capital acquired (i) Eclat Health, a Herndon, VA-based provider of healthcare management solutions, and (ii) Hansei Solutions, a Los Angeles, CA-based provider of revenue cycle management services to healthcare organizations
  • Avista Capital Partners invested in eMolecules, a San Diego, CA-based provider of e-procurement services for pharmaceutical companies; Robert W. Baird & Co advised on the transaction
  • Revelation Pharma, backed by Osceola Capital, acquired Everwell Specialty Pharmacy, a Pensacola, FL-based provider of pharmaceutical therapies, monitoring, and care services
  • Accelmed Partners invested in MedMinder Systems, a Needham, MA-based provider of medication management products and services
  • BayMark Health Services, backed by Webster Equity Partners, acquired Montgomery Addiction Clinic, a Dickson, TN-based provider of opioid addiction treatment services
  • WindRose Health Investors completed the sale of myNEXUS, a Brentwood, TN-based provider of home-based nursing management services, to Anthem
  • Acorn Health, backed by MBF Healthcare Partners, acquired Sandcastle Centers, a Gulf Breeze, FL-based provider of applied behavior analysis therapy services
  • Council Capital invested in ViaQuest, a Dublin, OH-based provider of residential, day, and employment services for individuals with development disabilities
  • Additional transactions


  • Aspen Surgical Products, backed by Audax Private Equity, acquired BlueMed Medical Supplies, a Montreal, QC-based manufacturer of disposable shoe covers
  • Turnspire Capital Partners completed the sale of Crane Carrier Company, a New Philadelphia, OH-based provider of vehicles and parts for the vocational truck industry, to Battle Motors
  • Greenbriar Equity Group completed the sale of Nordco, an Oak Creek, WI-based provider of equipment, parts, and services to the railroad industry, to Wabtec Corporation; Baird advised on the transaction
  • Arcline Investment Management invested in PDC Machines, a Warminster, PA-based manufacturer of specialty gas compression systems; Simmons Energy advised on the transaction
  • River Associates acquired Pelco Products, an Edmond, OK-based provider of traffic signaling hardware solutions; Northstar Capital financed the transaction
  • Lithko Contracting, backed by DNS Capital and The Pritzker Organization, invested in Pikus 3D, an American Fork, UT-based provider of 3D concrete printing services
  • Sun Capital Partners completed the sale of StonePoint Materials, a Philadelphia, PA-based producer of crushed stone, sand, and gravel, to Arcosa
  • MSD Partners invested in Woolpert, a Dayton, OH-based provider of architecture, engineering, and geospatial consulting services, from Long Point Capital; Houlihan Lokey and Lincoln International advised on the transaction
  • Additional transactions


  • Serent Capital invested in BQE Software, a Torrance, CA-based provider of practice management software for professional services firms
  • Thoma Bravo acquired Calypso Technology, a San Francisco, CA-based provider of software for financial institutions, from Bridgepoint and Summit Partners; Evercore and Jefferies advised on the transaction
  • Mercato Partners Traverse Fund completed the sale of Cloud Elements, a Denver, CO-based provider of API integration software, to UiPath
  • AutoRABIT, backed by Full In Partners, acquired CodeScan, a San Diego, CA-based provider of code quality and security analysis software; RA Capital Advisors advised on the transaction
  • Long Arc Capital invested in Concertiv, a New York, NY-based provider of data analytics and decision support services and software
  • Vista Equity Partners invested in ESO, an Austin, TX-based provider of software solutions for emergency medical services companies; Vista joins existing investor Accel-KKR; Aeris Partners and Robert W. Baird & Co advised on the transaction
  • Atairos and Blackstone Growth invested in GeoComply Solutions, a Vancouver, BC-based provider of geolocation and compliance technology; Deutsche Bank Securities, Deloitte and The Raine Group advised on the transaction
  • Great Hill Partners invested in Jumio, a Palo Alto, CA-based provider of identity verification and eKYC software; Evercore and Moelis & Company advised on the transaction
  • Shamrock Capital invested in Learn on Demand Systems, a New Port Richey, FL-based provider of virtual education and training services; Harris Williams advised on the transaction
  • Emergency Reporting, backed by Polaris Growth Fund, acquired Medusa Medical Technologies, a Halifax, NS-based provider of electronic patient care reporting software
  • Ontario Teachers' Pension Plan Board invested in Mitratech, an Austin, TX-based provider of legal and compliance software; TA Associates will sell its minority investment; Hg, the majority investor in Mitratech since 2017, will retain a minority interest; Lazard and Evercore advised on the transaction
  • Accel-KKR acquired Navis, an Oakland, CA-based provider of operational software for cargo transporters; Citi advised on the transaction
  • Renaissance Learning, backed by Francisco Partners, acquired Nearpod, a Dania Beach, FL-based provider of e-learning software
  • Modern Campus, backed by The Riverside Company, acquired nuCloud, a Simpsonville, SC-based provider of interactive campus maps and virtual tour solutions
  • Appriss Health, backed by Clearlake Capital and Insight Partners, acquired PatientPing, a Boston, MA-based provider of healthcare coordination software; Deutsche Bank, District Capital Partners and Evercore advised on the transaction
  • Rock Solid Technology, backed by Strattam Capital, acquired PrimeGov, a Scottsdale, AZ-based provider of government administration software
  • BP3 Global, backed by Petra Capital Partners, acquired transformAI, a San Jose, CA-based provider of process automation software
  • Bluff Point Associates acquired True North Networks, a Swanzey, NH-based provider of managed IT services for the financial services industry
  • DRB Systems, backed by New Mountain Capital, acquired Washify, a Boston, MA-based provider of point-of-sale software for car wash operators, from Ambina Partners
  • Iyuno Media Group, backed by Altor Equity Partners and Shamrock Capital, acquired SDI Media, a Los Angeles, CA-based provider of localization and entertainment technology solutions
  • 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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