NepFin DealWatch as of May 31, 2021

Jun 01, 2021

NepFin DealWatch is the definitive source for the latest deals in the lower middle market. For the week preceding June 01, 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

  • KnowFully Learning Group, backed by NexPhase Capital, acquired Creative Educational Concepts, a Lexington, KY-based provider of continuing education services for healthcare professionals
  • Corbett Technology Solutions, backed by Wind Point Partners, acquired DavEd Fire Systems, a Hackensack, NJ-based provider of fire alarm and security system services
  • Cave Creek Capital Management and RLJ Partners acquired GrowersHouse, a Tucson, AZ-based retailer of hydroponic equipment and supplies; The Westbury Group advised on the transaction
  • Tenex Capital Management acquired JTM Foods, an Erie, PA-based provider of private label bakery products and co-manufacturing services, from Kainos Capital; Varagon Capital Partners financed the transaction
  • 48forty, backed by Audax Private Equity, acquired Prime360, a Schaumburg, IL-based provider of pallet management and brokerage service
  • National Fire & Safety, backed by Highview Capital, acquired Texas Fire & Safety, a Waco, TX-based provider of fire safety services
  • ProPharma Group, backed by Odyssey Investment Partners, acquired The Planet Group, a Deerfield, IL-based provider of outsourced global workforce solutions and consulting services, from MidOcean Partners; FocalPoint Partners, Houlihan Lokey and William Blair & Company advised on the transaction
  • Gallant Capital invested in Valor Global, a Phoenix, AZ-based provider of outsourced business processing and customer care solutions
  • Additional transactions

Consumer

  • Arctic Glacier, backed by The Carlyle Group, acquired two providers of packaged ice products: (i) AC Ice Company, based in Brush, CO, and (ii) Gem Ice, based in The Dalles, OR
  • Morgan Stanley Capital Partners acquired Sila Heating & Air Conditioning, a King of Prussia, PA-based provider of residential HVAC services, from Dubin Clark; Varagon Capital Partners financed the transaction
  • Princeton Equity Group invested in Strickland Brothers, a Thomasville, NC-based provider of oil change and automotive maintenance services
  • Additional transactions

Financial Services-1

  • AssuredPartners, backed by GTCR and HarbourVest Partners, acquired Anchor Pardue Insurance, a Birmingham, AL-based independent insurance agency
  • RedBird Capital Partners completed the sale of Constellation Affiliated Partners, a New York, NY-based provider of insurance distribution services, to Truist Financial CorporationEvercoreRBC Capital Markets and Truist Securities advised on the transaction
  • Integrity Marketing Group, backed by Harvest Partners and HGGC, acquired PSI Groups, a Celebration, FL-based provider of insurance marketing services
  • Additional transactions

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Healthcare

  • Gryphon Investors completed the sale of CORA Physical Therapy, a Lima, OH-based provider of outpatient physical therapy services, to H.I.G. Capital; Jefferies, Harris Williams and Houlihan Lokey advised on the transaction
  • BayMark Health Services, backed by Webster Equity Partners, acquired Hope for Tomorrow, a Point Pleasant, WV-based provider of residential and office-based opioid treatment services
  • Orthopedic Care Partners, backed by Varsity Healthcare Partners, acquired Motion Orthopaedics, a Creve Coeur, MO-based provider of orthopedic care and surgery services
  • Prospect Partners completed the sale of Navix Diagnostics, a Taunton, MA-based provider of outsourced cardiovascular services, to a private investment firm; Generational Capital Markets advised on the transaction
  • MB2 Dental Solutions, backed by Sentinel Capital Partners, acquired (i) Ninth East Dental, a Provo, UT-based provider of dental care services, and (ii) Canyon Road Dental, a Provo, UT-based provider of dental care services
  • Aspekt Solutions, backed by Merion Investment Partners, acquired Nordic Medical Physics, a provider of radiology and radiation oncology technical services
  • CATO SMS, backed by Water Street Healthcare Partners, acquired Nuventra, a Research Triangle Park, NC-based provider of clinical pharmacology services
  • The Oncology Institute of Hope and Innovation, backed by Havencrest Healthcare Partners, M33 Growth and ROCA Partners, acquired Oncology Association, a Tampa, FL-based provider of cancer care services
  • NextPhase Medical Devices, backed by Kidd & Company, acquired Proven Process Medical Devices, a Mansfield, MA-based manufacturer of medical devices
  • Press Ganey, backed by Ares Management and Leonard Green & Partners, acquired SPH Analytics, an Alpharetta, GA-based provider of healthcare measurement and analytics services, from STG Partners
  • Additional transactions

Industrials

  • Angeles Equity Partners and Clearlake Capital completed the sale of American Construction Source, a Springfield, MO-based distributor of lumber and building materials, to US LBM, backed by Bain Capital Private Equity; Jefferies and Moelis & Company advised on the transaction
  • SK Capital Partners acquired two manufacturers of industrial wood coatings: (i) Canlak, based in Daveluyville, QC, and (ii) Valentus Specialty Chemicals, based in North Brunswick, NJ; the two companies will merge and operate as Canlak Coatings
  • Precision Aviation Group, backed by GenNx360 Capital Partners, acquired Keystone Turbine Services, a Coatesville, PA-based provider of aftermarket maintenance, repair and overhaul services for gas turbine engines
  • Fralock, backed by Arsenal Capital Partners, acquired Lenthor Engineering, a Milpitas, CA-based designer and manufacturer of printed circuits
  • Arizona Natural Resources, backed by CORE Industrial Partners, acquired Marianna, an Omaha, NE-based contract manufacturer of hair, skin, and beauty products, from Harren Equity Partners
  • Epsilyte, backed by Balmoral Funds, acquired Polysource, a Piqua, OH-based producer of expandable polystyrene products
  • TEAM Technologies, backed by Clearlake Capital, acquired Precision Die Cutting, a Chino, CA-based provider of manufacturing services to the medical device industry; Sphaeris Capital Advisors advised on the transaction
  • Wastequip, backed by H.I.G. Private Equity, acquired Wastebuilt Environmental Solutions, a Bolingbrook, IL-based provider of parts, equipment, and services for refuse and specialty fleet applications
  • Additional transactions

TMT

  • Silversmith Capital Partners completed the sale of Absorb Software, a Calgary, AB-based provider of eLearning software, to Welsh, Carson, Anderson & Stowe
  • H.I.G. Growth Partners invested in Accounting Seed, a Columbia, MD-based provider of accounting software; Piper Sandler advised on the transaction
  • VSS invested in Centroid Systems, a Troy, MI-based provider of managed cloud services and enterprise workload consulting services; American Discovery Capital advised on the transaction; CIBC Innovation Banking financed the transaction
  • Riverwood Capital completed the sale of Cloudvirga, an Irvine, CA-based provider of mortgage software, to Stewart Information Services; Houlihan Lokey advised on the transaction
  • Gryphon Investors acquired the ServiceNow division of Highmetric, a Lombard, IL-based provider of digital transformation and managed IT services, from The Acacia Group; Jefferies advised on the transaction; Gryphon also acquired two providers of ServiceNow implementation and management services: (i) Fishbone Analytics, based in Calgary, AB, and (ii) Iceberg Networks, based in Ottawa, ON; Transact Capital Partners, 7 Mile Advisors and Guggenheim Partners advised on the transactions
  • The Riverside Company completed the sale of Greenphire, a King of Prussia, PA-based provider of financial lifecycle management software for clinical trials, to Thoma Bravo; AGC Partners and Jefferies advised on the transaction
  • AEGIS Hedging, backed by Trilantic North America, acquired InstaNext, a Fort Lauderdale, FL-based provider of energy/commodity trading and risk management software
  • Charles Thayne Capital acquired Lucidpress, a Salt Lake City, UT-based provider of design and brand templating software, from Spectrum Equity
  • Susquehanna Growth Equity acquired MediSpend, a Portsmouth, NH-based provider of compliance software for the life sciences industry
  • Warburg Pincus invested in NetDocuments, a Lehi, UT-based provider of content management software for law firms and legal departments; existing investor Cove Hill Partners invested alongside Warburg Pincus
  • M33 Growth invested in PerformLine, a Morristown, NJ-based provider of compliance software
  • Sunstone Partners acquired Qwinix, a Centennial, CO-based provider of cloud-based IT consulting services; Qwinix will be merged with Sunstone portfolio company Cloudbakers; Drake Star Partners and East Los Capital advised on the transaction
  • Syndigo, backed by Summit Partners and The Jordan Company, acquired Riversand, a Houston, TX-based provider of master data management and product information management software
  • Longshore Capital Partners acquired Stuzo, a Philadelphia, PA-based provider of custom experience and commerce software
  • Primus Capital completed the sale of Top of Mind Networks, an Atlanta, GA-based provider of customer relationship management and marketing automation software, to Black Knight
  • Cove Hill Partners acquired two providers of event and venue management software, (i) Ungerboeck, based in St Louis, MO, and (ii) EventBooking, based in Knoxville, TN; the two companies will be merged; William Blair and Raymond James advised on the transaction
  • Ranch Creek Partners acquired InSite Telecom, an Orange, CA-based provider of construction, installation, and maintenance services to the telecommunications industry; True West Capital Partners financed the transaction
  • 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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