PE Weekly: M&A Roundup Sept. 18-24

Platform Investments

Sheridan Invests in PtEverywhere. Sheridan Capital Partners completed an investment in PtEverywhere, a practice management and integrated payments software platform serving outpatient physical therapy and rehabilitation providers. PtEverywhere helps clinics manage scheduling, clinical documentation, billing, and collections through a unified workflow, primarily serving small and mid-sized practices.

Bain Acquires SOLitude from Vertex. Rentokil Initial PLC has agreed to offload its SOLitude Lake Management business and Vertex Aquatic Solutions division, with Bain Capital acquiring the assets and taking them private, according to reports this week. The business provides lake, pond, wetland, and fisheries management services to residential communities, golf courses, municipalities, and commercial customers.

Lone View Backs HappyCo. Lone View Capital invested in HappyCo, a property operations software platform serving multifamily owners and operators. HappyCo provides inspection, maintenance, asset management, and operational workflow software with integrated AI via its JoyAI solution.

Odyssey Invests in Falcon Gases. Odyssey Investment Partners made a majority investment in Falcon Gases, a provider of specialty gas distribution. Falcon serves semiconductor, electronics, industrial, and advanced manufacturing customers.

Butterfly Acquires Sabert. Food and beverage-focused private equity firm Butterfly Equity acquired Sabert, a global provider of food packaging products and services. Sabert manufactures sustainable food packaging solutions for foodservice operators, grocery retailers, processors, and distributors, including paper, molded fiber, and recyclable packaging products used across food-to-go and prepared foods markets.

TJC Takes Luna Innovations Private. TJC completed its acquisition of Luna Innovations. Luna develops fiber optic sensing, test and measurement, and photonics technologies used in aerospace, defense, telecommunications, infrastructure monitoring, and industrial applications. The transaction delists Luna from the OTC Expert Market.

Add-ons

Arlington’s Everest Clinical Acquires Firma’s Biometrics Unit. Everest Clinical Research, a contract research organization backed by Arlington Capital Partners, acquired the biometrics and data services business unit of Firma Clinical Research. The business provides biometrics, statistical programming, and clinical data services to biotechnology, pharmaceutical, medical device, and diagnostic companies.

The Riverside Company’s T2 Services Acquires Element. T3 Services Group, a residential HVAC, plumbing, and electrical services platform backed by The Riverside Company, acquired Element Home Services. Element provides repair, maintenance, and replacement services to homeowners.

Renovus Capital’s CloudFirst Carves out Forvis Mazars’ IT Unit. CloudFirst, a managed cloud and IT services provider backed by Renovus Capital Partners, acquired the IT and cyber managed services practice of FORVIS Mazars. The transaction adds cybersecurity professionals, an in-house security operations center (SOC), enhanced Microsoft Azure expertise, and managed service desk capabilities to the platform.

New State’s The Expo Group Acquires toddstreet. The Expo Group, a portfolio company of New State Capital Partners, acquired toddstreet, a creative experiential marketing agency. Toddstreet provides strategic communications, content development, live events, learning and development, and experiential marketing services.

Exits

Presidio Exits Podium Entertainment. Flexpoint Ford and Shamrock Capital acquired Podium Entertainment from lower middle-market private equity firm Presidio Investors. GoldState Music has also come on as a minority investor. Podium is a publisher and entertainment company focused on audiobooks, digital publishing, and intellectual property development, working with independent authors and creators across genres including fantasy, science fiction, and romance. Reports said the transaction was made for around $400 million.

Strategics

MoonPay Acquires North Capital. MoonPay agreed to acquire North Capital Technology, a private-markets infrastructure platform, in an all-stock transaction reportedly valued at more than $60 million. The acquisition expands MoonPay’s capabilities in tokenized real-world assets and on-chain capital markets.