NepFin DealWatch as of March 22, 2021

Mar 22, 2021

NepFin DealWatch is the definitive source for the latest deals in the lower middle market. For the week preceding March 22, 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

  • Triton acquired ACRE, a Las Vegas, NV-based provider of security systems, from Egis Capital Partners and LLR Partners
  • Matrix Sciences International, backed by Imperial Capital, acquired AgroLab, a Harrington, DE-based provider of agronomic testing services
  • Vertically Integrated Projects, backed by Blackford Capital, acquired Boston Trade International, a Hudson, MA-based provider of interior design and procurement for the hospitality industry; Plante Moran and Rush Street Capital advised on the transaction; Assurance Mezzanine Fund and Midland States Bank financed the transaction
  • Charlesbank Capital Partners and Oaktree Capital Management acquired City Brewing, a La Crosse, WI-based provider of alcoholic beverage contract manufacturing services
  • Lexitas, backed by Apax Partners, acquired Confidential Communications International, a Houston, TX-based provider of medical record retrieval and deposition services
  • Peloton Capital Management acquired Glass Lewis, a San Francisco, CA-based provider of independent global governance solutions, from Ontario Teachers' Pension Plan Board; Lazard advised on the transaction
  • Endicott Growth Equity invested in GovSpend, a Deerfield Beach, FL-based provider of government intelligence solutions to vendors and agencies; Endicott joins majority investor Thompson Street Capital Partners, who acquired the company in January
  • Chicago Capital Partners acquired Home Sweet Home Services, a Palos Verdes Estates, CA-based provider of employee relocation services; BDO USA advised on the transaction
  • SambaSafety, backed by Abry Partners, acquired Instructional Technologies, a Vancouver, WA-based provider of online driver training services
  • Innovatus Capital Partners acquired Match Marketing Group, a Boulder, CO-based provider of marketing, sales, and merchandising services, from Southfield Capital
  • Tinuiti, backed by Mountaingate Capital, acquired Ortega Group, a Seattle, WA-based provider of Amazon marketing services
  • eLearning Brothers, backed by RLG Capital and Trinity Private Equity Group, acquired The Game Agency, a Stamford, CT-based provider of marketing and training solutions
  • Cornell Capital and Trilantic North America acquired (i) trustaff Management, a Cincinnati, OH-based provider of travel nurse and allied healthcare staffing services, (ii) CardioSolution, a Cincinnati, OH-based provider of cardiologist and support personnel staffing services, and (iii) Stella.ai, a New York, NY-based operator of an online marketplace for employers and job seekers
  • Additional transactions

Consumer

  • Sycamore Partners acquired Azamara, a Miami, FL-based operator of vacation cruise ships; Perella Weinberg Partners advised on the transaction
  • NewSpring Capital invested in Blo Blow Dry Bar, a Toronto, ON-based provider of blow dry services
  • BRS & Company completed the sale of DTLR Villa, a Hanover, MD-based retailer of footwear, apparel, and accessories, to JD Sports Fashion
  • Driven Brands, backed by Roark Capital, acquired Fabulous Car Wash, a operator of a car wash facility
  • Roadrunner Holdings, backed by American Pacific Group, acquired JoJé Bar, an Encinitas, CA-based provider of energy bars
  • Saw Mill Capital acquired Nemo Tile, a New York, NY-based distributor of tile, stone, and setting materials
  • Strand Equity Partners invested in Studio McGee, a Lehi, UT-based provider of interior design services
  • Blue Point Capital Partners acquired Weaver Leather, a Mt Hope, OH-based manufacturer of leather, nylon/synthetic, and hardware products
  • Additional transactions

Financial Services-1

  • Relation Insurance Services, backed by Aquiline Capital Partners, acquired Adams Insurance Agency, a Frederick, MD-based provider of insurance brokerage services
  • K2 Insurance Services, backed by Lee Equity Partners, acquired Columbia Pacific Finance, a City of Industry, CA-based provider of billing solutions for insurance agencies
  • Warburg Pincus invested in Edelman Financial Engines, a Sunnyvale, CA-based provider of financial planning and investment management services; Warburg Pincus joins majority investor Hellman & Friedman; Moelis & Company and PJT Partners advised on the transaction
  • Keystone Agency Investors acquired Garrett Insurance Agency, a Kerrville, TX-based independent insurance agency; Keystone Agency Investors is a strategic partnership between Keystone Insurers Group and Bain Capital Credit
  • AmeriLife Group, backed by Thomas H. Lee Partners and Waterfield Group, acquired Insurance 360, an Austin, TX-based provider of insurance brokerage services
  • Relation Insurance Services, backed by Aquiline Capital Partners, acquired Parks Insurance Group, a Huntersville, NC-based provider of insurance brokerage services
  • Lovell Minnick Partners acquired UniversalCIS, a Broomall, PA-based provider of credit data and related mortgage origination solutions; GCA Advisors advised on the transaction
  • Corridor Capital invested in World Wide Land Transfer, a New York, NY-based provider of title and settlement services; Britehorn Partners advised on the transaction
  • Additional transactions

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Healthcare

  • ICV Partners acquired Cherry Tree Dental, a Madison, WI-based dental practice management company
  • The Stepping Stones Group, backed by Five Arrows Capital Partners, acquired EBS Healthcare, a West Chester, PA-based provider of clinic, school, and home-based behavioral and therapeutic services; Capstone Headwaters advised on the transaction; Madison Capital Funding financed the transaction
  • Eir Partners and Pamlico Capital invested in Millennia Patient Services, a Raleigh, NC-based provider of patient payment and financial engagement technologies for healthcare companies; Robert W Baird & Company advised on the transaction
  • The Emily Program, backed by Triple Tree, merged with Veritas Collaborative, a Durham, NC-based provider of eating disorder treatment services and portfolio company of Vestar Capital Partners
  • TEAM Technologies, backed by Clearlake Capital, acquired ViruDefense, a Burlington, MA-based provider of N95 respirators
  • Additional transactions

Industrials

  • Pilot Wave Holdings acquired Cormorant Atlantic Utility Services, a Bedford, NS-based provider of utilities transmission and distribution services; Clariti Strategic Advisors advised on the transaction
  • Volt Power, backed by Clayton Dubilier & Rice, acquired (i) DD Grid, a Canyon, TX-based provider of electrical substation utility contractor services, and (ii) One Shot Reliability, a Canyon, TX-based provider of construction management services
  • Reedy Industries, backed by Audax Private Equity, acquired Pro-Tek Mechanical, a Lake Zurich, IL-based provider of mechanical contractor services
  • Mako Steel, backed by New State Capital Partners, acquired Rabco Enterprises, a Winter Garden, FL-based provider of self-storage building systems; Brown Gibbons Lang & Company and Duff & Phelps advised on the transaction
  • Wellspring Capital Management acquired Rohrer Corporation, a Wadsworth, OH-based designer and manufacturer of packaging products, from ShoreView Industries; Harris Williams advised on the transaction
  • Quad-C Management acquired SEI Group, a Doralville, GA-based distributor and installer of residential building products, from Narrow Gauge Capital; Croft & Bender advised on the transaction
  • Peak Utility Services Group, backed by ORIX Capital Partners, acquired Superior Pipeline Services, a Fort Worth, TX-based provider of natural gas utility services
  • Lynn Electronics, backed by NewSpring Capital, acquired Total Cable Solutions, a Springboro, OH-based manufacturer of telecom and data center products
  • Atar Capital acquired Universal Douglas Lighting Americas, a Burnaby, BC-based manufacturer of lighting products; GCA Advisors advised on the transaction; FGI Finance financed the transaction
  • Additional transactions

TMT

  • TA Associates invested in Appfire, a Burlington, MA-based provider of apps for software development teams to enhance collaboration tools. TA Associates joins existing investor Silversmith Capital Partners; Baird advised on the transaction
  • Recorded Future, backed by Insight Partners, acquired Gemini Advisory, a Miami, FL-based provider of fraud analytics software
  • DartPoints, backed by Astra Capital Management, acquired Immedion, a Greenville, SC-based provider of colocation, cloud, and managed services; Bank Street Group advised on the transaction
  • IRI, backed by New Mountain Capital and Vestar Capital Partners, acquired the Intelligent Shopper Solutions software business Kognitiv, a Waterloo, ON-based provider of management, commerce, and loyalty software solutions
  • Silver Lake invested in Relativity, a Chicago, IL-based provider of e-discovery software; ICONIQ Growth will remain a key investor; Qatalyst Partners advised on the transaction
  • Penn Foster, backed by BayPine and Two Sigma Impact, acquired Sokanu, a Vancouver, BC-based provider of career advancement software
  • Operative, backed by Francisco Partners, acquired STAQ, a New York, NY-based provider of advertising and digital marketing integration software
  • 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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