Acquisitions in North Dakota in 2021
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December 21, 2021
- Buyer
- AGCO
- Target
- Appareo Systems, LLC
- Industry
- IT Services
- Location
- North Dakota, United States
- Type
- Buyout
AGCO, a worldwide agricultural machinery and precision ag technology manufacturer and distributor, has agreed to acquire Appareo Systems, LLC. The acquisition is expected to close in January 2022 and is intended to expand AGCO’s engineering and manufacturing capabilities, including capacity in software development and related hardware.
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- Buyer
- Knight-Swift Transportation Holdings, Inc.
- Target
- RAC MME Holdings, LLC (Midwest Motor Express, Inc.; Midnite Express, Inc.)
- Seller
- Red Arts Capital, Prudential Capital Partners, Brightwood Capital Advisors, Several family offices (ownership group)
- Industry
- Trucking & Fleet
- Location
- North Dakota, United States
- Type
- Buyout
Knight-Swift Transportation Holdings, Inc. acquired 100% of RAC MME Holdings, LLC — the parent of Midwest Motor Express and Midnite Express — for $150 million in cash. The acquisition expands Knight-Swift's less-than-truckload (LTL) footprint across roughly 15 states in the upper midwestern and great northwestern United States; MME reported approximately $137 million of 2021 revenue and ~800 employees.
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November 10, 2021
- Buyer
- The Hershey Company
- Target
- Dot's Pretzels LLC, Pretzels Inc.
- Seller
- Dot's Pretzels LLC, an affiliate of Peak Rock Capital
- Industry
- Food & Beverage
- Location
- North Dakota, United States
- Type
- Buyout
The Hershey Company entered into definitive agreements to acquire Dot's Pretzels LLC and Pretzels Inc., expanding its salty-snacking portfolio and pretzel manufacturing capabilities. The combined transaction is valued at approximately $1.2 billion (about $1.0 billion net of expected tax benefits) and is expected to close by the end of 2021, subject to customary regulatory approvals.
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September 2, 2021
- Buyer
- Marsh McLennan Agency (MMA)
- Target
- Vaaler Insurance, Inc.
- Seller
- Vaaler family
- Industry
- Insurance
- Location
- North Dakota, United States
- Type
- Buyout
Marsh McLennan Agency (MMA) has acquired Vaaler Insurance, Inc., one of the largest independent insurance agencies in North Dakota. Terms were not disclosed; Vaaler — a third‑generation, family‑owned agency with 81 employees across Grand Forks, Fargo and Bismarck (ND) and Fosston (MN) — will continue to be led by CEO Bruce Vaaler as MMA expands its Upper Midwest footprint.
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June 17, 2021
- Buyer
- Danaher Corporation
- Target
- Aldevron
- Seller
- EQT Private Equity (EQT VIII) and selling shareholders
- Industry
- Biotechnology
- Location
- North Dakota, United States
- Type
- Buyout
Danaher Corporation entered into a definitive agreement to acquire Aldevron from EQT Private Equity for an enterprise value of approximately USD 9.6 billion. Aldevron, headquartered in Fargo, North Dakota with ~600 employees and additional operations in Madison, Wisconsin, will operate as a standalone company within Danaher's Life Sciences segment to expand Danaher's capabilities in genomic medicine and biologics manufacturing.
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April 19, 2021
- Buyer
- SFP Holding, Inc. (Summit Companies), Summit Fire Protection Co.
- Target
- Protection Systems, Inc.
- Seller
- Protection Systems, Inc. co-owners Randy McFarland and Marvin Fletcher
- Industry
- Electrical Services
- Location
- North Dakota, United States
- Type
- Addon
Summit Fire Protection Co., a subsidiary of SFP Holding, has acquired Protection Systems, Inc., a Fargo, North Dakota-based low-voltage contractor that provides fire alarm, CCTV, nurse call and access control services. The deal brings Protection Systems' team and capabilities into Summit's existing operations in Fargo and St. Cloud to expand local coverage and enhance fire alarm and security offerings.
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April 15, 2021
- Buyer
- Simplicity Group
- Target
- Sunderland Group
- Industry
- Financial Services
- Location
- North Dakota, United States
- Type
- Addon
Simplicity Group has acquired Sunderland Group, a long-standing wholesale life and annuity distribution business, with the deal effective March 31, 2021. Brad and Derek Sunderland join Simplicity as partners and shareholders as part of the add-on acquisition to expand Simplicity’s national distribution platform.
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