Private Equity-Backed Acquisitions in Minnesota
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March 19, 2026
- Buyer
- Sterling Investment Partners
- Target
- Cyber Advisors
- Industry
- Cybersecurity
- Location
- Minnesota, United States
- Type
- Buyout
Sterling Investment Partners announced the acquisition of Cyber Advisors, a provider of cybersecurity and managed IT services. Cyber Advisors, headquartered in Maple Grove, Minnesota, supports 1,800+ customers nationwide with 330+ professionals.
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February 26, 2026
- Buyer
- Kava Equity Partners, Southern Ute Indian Tribe Growth Fund
- Target
- The Berg Group
- Industry
- Construction
- Location
- Minnesota, United States
- Type
- Buyout
Kava Equity Partners, the direct private equity investment arm of the Southern Ute Indian Tribe Growth Fund, has acquired The Berg Group, a Minnesota-based specialty contractor focused on industrialized construction, prefabrication and modular systems. The Berg will retain its existing management team and operate with added resources from Kava and the Southern Ute Indian Tribe Growth Fund to expand nationwide capabilities in high-performance environments such as data centers, cleanrooms and advanced manufacturing facilities.
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February 26, 2026
- Buyer
- Tonka Bay Equity Partners LLC
- Target
- CAMP Digital
- Industry
- Marketing & Advertising
- Location
- Minnesota, United States
- Type
- Growth capital
Tonka Bay Equity Partners LLC made a strategic investment in CAMP Digital, a tech-enabled marketing platform for the home services industry. The funding is intended to fuel CAMP’s next phase of aggressive expansion while maintaining founder-led operational continuity.
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February 19, 2026
- Buyer
- United Aesthetics Alliance
- Target
- LivSkin MedSpa | Laser
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Addon
United Aesthetics Alliance (UAA), a platform of plastic surgery practices and medspa brands, has partnered with/acquired LivSkin MedSpa | Laser, a Minneapolis-area medical spa with locations in Minnetonka and Excelsior. The deal expands UAA's non-surgical aesthetics capabilities and strengthens its presence in the Minneapolis–St. Paul market.
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February 19, 2026
- Buyer
- Podean, Mountaingate Capital
- Target
- Ad Advance
- Seller
- Permanent Equity
- Industry
- Marketing & Advertising
- Location
- Minnesota, United States
- Type
- Addon
Marketplace-focused agency Podean has acquired Ad Advance, a Duluth, Minnesota–based retail media agency, from Permanent Equity. The deal—facilitated by Podean's private equity partner Mountaingate Capital—adds Ad Advance’s Streamline technology and retail-media/DSP capabilities to Podean’s global marketplaces platform and was announced as creating a combined business with ~260 staff across 17 countries.
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February 13, 2026
- Buyer
- Carolwood LP
- Target
- Indian Motorcycle
- Seller
- Polaris Inc.
- Industry
- Automotive
- Location
- Minnesota, United States
- Type
- Divestiture
Polaris has completed the separation of Indian Motorcycle into a standalone business and sold a majority stake in the brand to Carolwood LP, an independent private equity firm based in Los Angeles. Financial terms were not disclosed; Polaris said the divestiture allows it to sharpen focus on core powersports businesses while Indian Motorcycle will operate independently under new majority ownership.
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February 10, 2026
- Buyer
- KPS Capital Partners, LP
- Target
- The Wells Companies, Inc.
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
KPS Capital Partners, LP has signed a definitive agreement through a newly formed affiliate to acquire The Wells Companies, Inc. Financial terms were not disclosed. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions and approvals.
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February 2, 2026
- Buyer
- OnePoint BFG Wealth Partners, Rise Growth Partners
- Target
- Voyage Wealth Architects
- Industry
- Wealth Management
- Location
- Minnesota, United States
- Type
- Addon
OnePoint BFG Wealth Partners has acquired Minneapolis-based Voyage Wealth Architects, a wealth management firm overseeing $700 million in AUM. The deal, supported by strategic capital partner Rise Growth Partners, expands OnePoint BFG's planning-led platform, broadens its Midwest presence and will transition Voyage to the OnePoint BFG brand over time.
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January 30, 2026
- Buyer
- Francisco Partners
- Target
- Jamf
- Seller
- Jamf stockholders (voted to approve the transaction), Vista Equity Partners
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Francisco Partners (FP) completed the take-private acquisition of Jamf in an all-cash deal valued at approximately $2.2 billion, paying $13.05 per share. Jamf shareholders approved the transaction on January 8, 2026, and Jamf’s shares were delisted from NASDAQ upon close so the company can operate as a privately held business.
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- Buyer
- Stacker Holdings, LLC, Halifax West
- Target
- Advanced Irrigation, LLC, Advanced Irrigation, Inc.
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
Halifax West provided capital advisory services and led the debt-market process, while also making a minority co-investment alongside Stacker Holdings in its acquisition of Advanced Irrigation. The investment adds capital and support to expand Advanced Irrigation’s year-round maintenance offerings and selectively grow its footprint across the Minneapolis–St. Paul metro area.
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January 27, 2026
- Buyer
- Resonetics
- Target
- Resolution Medical
- Seller
- Arcline Investment Management
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Buyout
Resonetics has signed an agreement to acquire Resolution Medical, a provider of integrated design and manufacturing solutions for complex medical devices. The deal is expected to close in 2026, subject to regulatory approvals and customary closing conditions, and will expand Resonetics’ capabilities in neuromodulation and structural heart markets.
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- Buyer
- Ridgeline Roofing & Restoration, Bertram Capital
- Target
- Bold North Roofing and Contracting LLC
- Seller
- Erik McLaughlin, Ryan Emmerich
- Industry
- Construction
- Location
- Minnesota, United States
- Type
- Addon
Ridgeline Roofing & Restoration, a Bertram Capital-backed roofing platform, has acquired Bold North Roofing and Contracting, a roofing and exterior services provider serving the Twin Cities and western Wisconsin. The add-on expands Ridgeline's Midwest footprint; founders Erik McLaughlin and Ryan Emmerich will continue to lead Bold North and are reinvesting in the platform. Financial terms were not disclosed.
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January 23, 2026
- Buyer
- Tide Rock
- Target
- Analog Technologies
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Addon
Tide Rock, an unlevered buyout firm, acquired Analog Technologies, a Burnsville, Minnesota-based electronic manufacturing services (EMS) provider. The deal is an add-on to Tide Rock's EMS platform (working alongside portfolio company Pro-Active Engineering) and expands the platform's PCBA, high-performance interconnect and A&D-certified capabilities.
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January 13, 2026
- Buyer
- Charter Impact
- Target
- EdFinMN
- Industry
- Education
- Location
- Minnesota, United States
- Type
- Addon
Charter Impact, a national provider of back-office financial and operational services for charter schools, has acquired EdFinMN, a Minneapolis-based school finance and back-office firm. The deal brings EdFinMN’s local team and client relationships into Charter Impact’s platform to expand capacity, technology, and service offerings for Minnesota charter schools as part of Charter Impact’s national expansion strategy.
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January 8, 2026
- Buyer
- DwyerOmega, Arcline Investment Management
- Target
- Burns Engineering
- Seller
- Jim Burns, JD Burns
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Addon
DwyerOmega, a portfolio company of Arcline Investment Management, has acquired Burns Engineering to expand its precision temperature measurement product offering. Burns Engineering, founded in 1965 and based in Eden Prairie, Minnesota, provides metrology-grade temperature measurement devices for end markets including biopharma, food processing, and calibration laboratories; financial terms were not disclosed.
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January 1, 2026
- Buyer
- Avkha Equity Holdings
- Target
- Dart Transit Company, Dart Express
- Seller
- Oren family
- Industry
- Trucking & Fleet
- Location
- Minnesota, United States
- Type
- Buyout
Avkha Equity Holdings, a San Francisco-based private investment firm, has acquired Minnesota-based Dart Transit Company (including Dart Express and related subsidiaries), ending 90 years of Oren family ownership. The transaction (effective Jan. 1) preserves the Dart brand and day-to-day operations while Avkha plans to expand service offerings — including additional lanes, intermodal solutions, and dedicated fleets — and installs a new CEO as part of the leadership transition.
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January 1, 2026
- Buyer
- CohnReznick
- Target
- Smith Schafer & Associates
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
CohnReznick acquired Minneapolis-based Smith Schafer & Associates effective January 1, 2026, marking the firm's entry into Minnesota and expanding its Midwest footprint. Smith Schafer brings three local offices, 12 partners and 89 employees, and expertise across professional services firms, construction, manufacturing, and transportation to strengthen CohnReznick's advisory, assurance, and tax capabilities.
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December 15, 2025
- Buyer
- Canada Pension Plan Investment Board (CPP Investments), Global Infrastructure Partners (GIP)
- Target
- ALLETE, Inc.
- Industry
- Energy
- Location
- Minnesota, United States
- Type
- Buyout
CPP Investments and Global Infrastructure Partners (GIP) entered into a definitive agreement to acquire ALLETE for $67 per share in cash, valuing the transaction at $6.2 billion including assumed debt. The deal is expected to close in mid-2025 (later described as closing around Dec. 15, pending remaining conditions) and will take ALLETE private while delivering approximately $200 million in benefits to Minnesota Power customers and communities.
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November 10, 2025
- Buyer
- GTCR LLC
- Target
- Surmodics, Inc.
- Seller
- United States Federal Trade Commission (FTC), certain state regulators
- Industry
- Medical Devices
- Location
- Minnesota, United States
- Type
- Buyout
Surmodics announced that a U.S. district court denied the FTC and certain state regulators’ request for a preliminary injunction to block the company’s proposed acquisition by an affiliate of GTCR. Surmodics said the merger remains subject to a temporary restraining order and customary closing conditions, with the company expecting to move toward closing promptly.
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- Buyer
- SK Capital Partners, LP
- Target
- Precera Medical
- Seller
- LISI Group
- Industry
- Medical Devices
- Location
- Minnesota, United States
- Type
- Buyout
SK Capital Partners has completed the acquisition of LISI Group's Medical division and launched the business as Precera Medical, a precision medical device CDMO headquartered in Big Lake, Minnesota. LISI Group retained a minority stake; SK Capital plans to invest in capacity and capabilities and pursue organic growth and M&A to expand the new platform's service offerings to global medical device OEMs.
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October 30, 2025
- Buyer
- Westbourne Capital Partners LLC, Monroe Capital LLC
- Target
- Harvey Vogel Manufacturing Co.
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Westbourne Capital Partners acquired Harvey Vogel Manufacturing Co., a precision metal stamping and fabrication company that serves aerospace, medical and industrial markets. Monroe Capital led the debt financing and made an equity co-investment to support the platform buyout and growth plan to professionalize and scale the business.
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October 9, 2025
- Buyer
- FTV Capital, Forerunner Ventures
- Target
- DUOS
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Growth capital
DUOS, an AI-powered digital health platform, raised $130 million in a strategic growth equity round led by FTV Capital with participation from Forerunner Ventures. The capital will accelerate national expansion, deepen DUOS' AI capabilities, and scale its member activation and benefits-execution platform across Medicare Advantage, Medicaid and ACA plans; FTV partners joined DUOS' board and Jenn Kerfoot was promoted to President of Market Operations.
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October 7, 2025
- Buyer
- Palm Peak Capital, LLC, Stellus Capital Management, LLC
- Target
- Domaille Engineering
- Seller
- ADDMAN Engineering
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Palm Peak Capital, a lower‑middle market private equity firm, has acquired Domaille Engineering, a Rochester, Minnesota–based maker of advanced equipment and accessories for producing pre‑terminated fiber optic cables, in a corporate carve‑out from ADDMAN Engineering. Stellus Capital Management provided senior unitranche financing and an equity co‑investment to support the transaction; D.A. Davidson served as Palm Peak's financial advisor and Lincoln International advised Domaille.
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October 7, 2025
- Buyer
- Smith System, MidOcean Partners
- Target
- Utilimarc
- Industry
- Data & Analytics
- Location
- Minnesota, United States
- Type
- Addon
Smith System, a MidOcean Partners portfolio company, has acquired Utilimarc, a Minneapolis-based fleet analytics and benchmarking provider, to create an integrated driver safety and fleet analytics platform. The combination unifies Smith System's driver training and behavior-based risk management with Utilimarc's telematics and fleet BI capabilities to deliver a closed-loop solution for safer, more efficient fleet operations.
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- Buyer
- Redwood Family Care Network, Webster Equity Partners
- Target
- Eagles Wing
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Addon
Redwood Family Care Network, a multi-state provider of services to individuals with intellectual and developmental disabilities and a portfolio company of Webster Equity Partners, has acquired Minnesota-based Eagles Wing. The acquisition expands Redwood's geographic footprint into the Midwest and augments its residential and day support services for individuals with developmental disabilities.
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- Buyer
- Blue Sage Capital
- Target
- Skid Pro Attachments Inc., Accessories Unlimited LLC
- Seller
- Ben Hartwell, Josh Sanden, Mark Rasmussen, Travis Ballard
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Blue Sage Capital has made a control investment to merge Skid Pro Attachments Inc. and Accessories Unlimited LLC into a vertically integrated platform supplying skid steer and compact track loader attachments. The transaction combines Skid Pro’s direct‑to‑customer sales and marketing capabilities with Accessories Unlimited’s engineering and manufacturing, and Blue Sage will back leadership changes and growth through product expansion, geographic reach, and strategic acquisitions.
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- Buyer
- Windjammer Capital
- Target
- PDU Cables, Engineered Products Company (EPCO)
- Seller
- Lee Family (Peter Lee and Duncan Lee)
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Windjammer Capital completed the acquisition of PDU Cables and Engineered Products Company (EPCO) in partnership with management and the Lee family; terms were not disclosed. The deal creates a platform positioned to serve accelerating data center power needs and to expand into adjacent product and service offerings for electrical distributors, contractors, hyperscalers and enterprise customers.
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September 2, 2025
- Buyer
- SI Solutions, LLC, MidOcean Partners
- Target
- Integrity Specialists, LLC
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Addon
SI Solutions, LLC (backed by MidOcean Partners) has acquired Integrity Specialists, LLC, a provider of advanced non-destructive examination (NDE) and pipeline inspection services based in Annandale, Minnesota. The acquisition expands SI Solutions' NDE and pipeline integrity capabilities and scales its services to the natural gas midstream market as part of its platform growth.
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September 2, 2025
- Buyer
- Metronet
- Target
- US Internet
- Seller
- Everside Capital Partners, US Internet shareholders (including founders Travis Carter and Kurt Lange)
- Industry
- Telecommunications
- Location
- Minnesota, United States
- Type
- Buyout
Metronet has acquired US Internet (USI), a Minnetonka-based pure-play fiber provider whose network reaches more than 140,000 homes and businesses in the greater Minneapolis area. Terms were not disclosed; the deal follows Metronet’s recent acquisition by a T‑Mobile and KKR joint venture and results in an exit for investor Everside Capital Partners.
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- Buyer
- BDT & MSD Partners, BlackRock Long Term Private Capital
- Target
- Summit Companies (SFP Holding, Inc.)
- Seller
- BlackRock Long Term Private Capital (BlackRock LTPC)
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
BDT & MSD Partners, through its affiliated funds, entered into a definitive agreement to acquire a majority stake in Summit Companies. Summit Founder and President Quint Rubald, CEO Jeff Evrard, and the management team will remain shareholders and continue leading the fire and life safety services platform.
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July 31, 2025
- Buyer
- LFM Capital
- Target
- Bergari Solutions, LLC
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Nashville-based private equity firm LFM Capital has invested in Bergari Solutions, a Rosemount, Minnesota designer and manufacturer of custom engineered exhaust and emissions systems. The transaction establishes Bergari as a platform company in LFM’s third fund and positions the business for growth in data center and other backup power end markets.
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- Buyer
- PCM Companies, Northstar Capital
- Target
- TMI Coatings
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
PCM Companies has made a platform investment in TMI Coatings, a specialty painting, coating and restoration contractor headquartered in Eagan, Minnesota. Northstar Capital provided junior debt and an equity co-investment to help finance the transaction alongside PCM.
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- Buyer
- Greenix Pest Control, Riata Capital Group
- Target
- Rove Pest Control
- Seller
- Rove Pest Control, Rob Greer
- Industry
- Environmental Services
- Location
- Minnesota, United States
- Type
- Addon
Greenix Pest Control (a Riata Capital Group portfolio company) has acquired Rove Pest Control's operations in multiple northern U.S. markets, including Madison, Wisconsin, and additional operations in Minnesota, Michigan and Massachusetts. The deal expands Greenix's footprint to 19 states and over 250,000 households served, while allowing Rove to focus on growth in its remaining markets.
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- Buyer
- Victory Tire & Auto, Straightaway Tire & Auto, O2 Investment Partners
- Target
- AutoPro Auto Service
- Seller
- John Klarkowski
- Industry
- Automotive
- Location
- Minnesota, United States
- Type
- Addon
Victory Tire & Auto, a Straightaway Tire & Auto brand, acquired AutoPro Auto Service in Brooklyn Park, Minnesota, in a deal finalized June 11, 2025. The acquisition is an add-on to Straightaway’s regional network, increasing Victory’s location density in the Brooklyn Park market and preserving the AutoPro team under the Straightaway/Victory platform.
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- Buyer
- GFL Environmental Services, Apollo Global Management, BC Partners
- Target
- OSI Environmental
- Industry
- Environmental Services
- Location
- Minnesota, United States
- Type
- Addon
GFL Environmental Services, the newly spun-off environmental services division controlled by Apollo Global Management and BC Partners, has acquired OSI Environmental, a Minnesota-based hazardous and non-hazardous waste services provider. The add-on expands GFL Environmental Services' footprint across the Midwest and adds capabilities such as used-oil recycling, roll-off services and emergency spill response to its platform.
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June 2, 2025
- Buyer
- Buske Logistics, Fourshore Partners
- Target
- Strategic Warehousing, LLC
- Industry
- Logistics & Distribution
- Location
- Minnesota, United States
- Type
- Addon
Buske Logistics, a portfolio company of Fourshore Partners, has acquired Strategic Warehousing, LLC, a contract logistics provider based in Eagan, Minnesota. The add-on expands Buske's food-and-beverage warehousing capabilities—particularly in confectionery—and grows its network in the Twin Cities with three sites totaling 225,000 square feet.
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- Buyer
- Brookfield Asset Management, Brookfield Renewable Partners L.P.
- Target
- National Grid Renewables (now Geronimo Power)
- Seller
- National Grid plc
- Industry
- Renewable Energy
- Location
- Minnesota, United States
- Type
- Buyout
Brookfield Asset Management, together with its institutional partners including Brookfield Renewable Partners, completed the acquisition of National Grid Renewables from National Grid plc and will operate the business under the Geronimo Power brand. The Minneapolis-headquartered company develops and operates utility-scale solar, wind and energy storage (about 2 GW operating, 1 GW under construction and ~20 GW in development) and will continue scaling Brookfield’s U.S. renewables platform.
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May 8, 2025
- Buyer
- Safe Life
- Target
- HeartCert
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Addon
Safe Life, a Stockholm-based group focused on AEDs and first-aid training, has acquired HeartCert, a Minnesota-based provider of AED distribution, CPR, First Aid and CNA training. The acquisition gives Safe Life a physical presence in the U.S. Midwest, strengthens its national training capabilities, and expands its reach across the United States.
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- Buyer
- Detectortesters Group, Inflexion Private Equity Partners
- Target
- Global Vision Inc.
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Addon
Detectortesters Group, a portfolio company of Inflexion Private Equity Partners, has acquired Global Vision Inc. (GVI), a Minnesota-based maker of FM‑approved fire pump test meters. The deal is an add-on to Detectortesters' test & measurement platform and is intended to strengthen its flow meter product offering, innovation capability, and global distribution reach in the commercial fire protection market.
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- Buyer
- Blue Point Capital Partners
- Target
- Restoration Systems (RSI)
- Seller
- Restoration Systems owners (including Blake Dronen)
- Industry
- Construction
- Location
- Minnesota, United States
- Type
- Recapitalization
Blue Point Capital Partners has completed a recapitalization of Restoration Systems (RSI), a Minneapolis-based provider of facade, masonry and concrete repair and waterproofing services. RSI founder/owner Blake Dronen will remain in his leadership role as the partnership provides capital to support organic growth, geographic expansion across the Midwest and add-on acquisitions.
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April 17, 2025
- Buyer
- Patient Square Capital, Patient Square Equity Partners, LP
- Target
- Patterson Companies, Patterson Companies Inc.
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Buyout
Patterson Companies entered into a definitive agreement to be acquired by Patient Square Capital in a $4.1 billion transaction (about $31.35 per share in cash). The acquisition completed on April 17, 2025, and Patterson’s common stock is no longer traded on the Nasdaq Global Select Market.
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- Buyer
- Bertram Capital
- Target
- Applied Products, Inc. (APPLIED Adhesives)
- Seller
- Arsenal Capital Partners
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
Bertram Capital has acquired Applied Products, Inc. (APPLIED Adhesives) from Arsenal Capital Partners; terms were not disclosed. Bertram intends to use APPLIED as a new industrial distribution platform to drive organic growth and add-on acquisitions while APPLIED's existing management, led by CEO John Feriancek, will remain in place.
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- Buyer
- Medical Manufacturing Technologies (MMT), Arcline Investment Management
- Target
- Mayer Engineering (FEPeeler)
- Seller
- Mayer Engineering / Angie Mayer
- Industry
- Medical Devices
- Location
- Minnesota, United States
- Type
- Addon
Medical Manufacturing Technologies (MMT), a portfolio company of Arcline Investment Management, has acquired Mayer Engineering, the maker of the FEPeeler line of heat-shrink removal and braided catheter cutting tooling. The add-on deal expands MMT’s catheter manufacturing tooling and cutting capabilities to improve production efficiency, safety, and throughput for medical device customers.
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- Buyer
- U.S. Compliance, Susquehanna Growth Equity
- Target
- OSHA/Environmental Compliance Systems (OECS)
- Industry
- Environmental Services
- Location
- Minnesota, United States
- Type
- Addon
U.S. Compliance, a national EHS provider and platform backed by Susquehanna Growth Equity, has acquired OSHA/Environmental Compliance Systems (OECS), a St. Louis Park, Minnesota-based EHS consulting firm. The add-on expands U.S. Compliance's presence and service density in the Upper Midwest; terms were not disclosed and Troutman Pepper and Hennepin Partners served as advisors.
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- Buyer
- Ballymore Safety Products, One Equity Partners
- Target
- Valley Craft Industries, Inc.
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Addon
Ballymore Safety Products, a One Equity Partners portfolio company, has completed the acquisition of Valley Craft Industries, a Lake City, Minnesota-based manufacturer of material handling, drum handling, and storage solutions. The add-on expands Ballymore’s domestic manufacturing footprint and establishes a Midwest headquarters while preserving the Valley Craft brand and workforce of over 100 employees.
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March 31, 2025
- Buyer
- Veltris, Trive Capital, BayLink Capital
- Target
- BPK Technologies
- Industry
- IT Services
- Location
- Minnesota, United States
- Type
- Addon
Veltris, a digital product engineering services provider backed by Trive Capital and BayLink Capital, has acquired BPK Technologies to expand its digital engineering, data and AI capabilities and deepen vertical healthcare expertise. The acquisition enhances Veltris’ offerings for Dental Service Organizations, health systems and other healthcare-adjacent markets while scaling BPK’s services across Veltris’ platform.
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March 27, 2025
- Buyer
- S5 Equity
- Target
- Heartland America
- Industry
- E-Commerce
- Location
- Minnesota, United States
- Type
- Addon
S5 Equity, a Southern California private investment firm, has acquired Heartland America, a discount catalog and online direct-to-consumer retailer based in Chaska, Minnesota. The deal is a strategic bolt-on to S5 Equity’s portfolio company Hammacher Schlemmer to capture synergies across distribution, marketing and sales; financial terms were not disclosed.
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- Buyer
- The Cook & Boardman Group LLC
- Target
- Building Material Supply Inc. (BMSI)
- Seller
- Jeff Lehman
- Industry
- Building Products
- Location
- Minnesota, United States
- Type
- Addon
The Cook & Boardman Group LLC, a Platinum Equity–backed provider of integrated access and security solutions, has acquired Building Material Supply Inc. (BMSI), an architectural specialty building products distributor headquartered in Edina, Minnesota. The acquisition expands Cook & Boardman's Division 10 product offering and Midwest/Southwest footprint; terms were not disclosed.
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- Buyer
- New Charter Technologies, Oval Partners
- Target
- Element Technologies
- Industry
- IT Services
- Location
- Minnesota, United States
- Type
- Addon
New Charter Technologies, a portfolio company of Oval Partners, has added Element Technologies to its MSP platform. The transaction expands New Charter's national IT services footprint and brings Element's cybersecurity, automation & AI, and document management expertise — with a strong focus on the legal sector — into the platform.
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March 17, 2025
- Buyer
- Aldaron Partners, True Wind Capital
- Target
- DCM Services, LLC
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
Aldaron Partners and True Wind Capital have partnered to acquire DCM Services, a Minneapolis-area leader in estate and specialty receivables recovery. The private equity-backed partnership will support DCMS's growth and scale its proprietary Probate Finder technology and outsourced account resolution services across financial services, healthcare and other end markets.
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