Add-on

Kanawha Scales & Systems, a provider of industrial scale calibration and repair services and a portfolio company of Investcorp, has acquired Strack Scale Service.

Strack Scale calibrates, installs, and maintains industrial weighing equipment, serving manufacturers and industrial operators across the Ohio, Kentucky, and Indiana tri-state region. The company’s work spans a range of industries, built around on-site inspection, testing, and preventative maintenance programs that include support for International Organization for Standardization (ISO) audit requirements.

Source: Strack Scale ServiceStrack Scale is headquartered near Cincinnati in Harrison, Ohio.

West Virginia-based Kanawha Scales & Systems (KSS) provides calibration, maintenance, and repair services for industrial weighing systems and automated control equipment across the U.S. The company operates a network of service branches across the Midwest, Northeast, and Southern U.S. and supplies weighing, batching, and automated loadout systems for industrial customers.

The acquisition of Strack Scale expands KSS’s network to 28 branches nationwide. KSS, led by CEO Chris Carsten, was founded in 1954 and is headquartered near Charleston in Poca, West Virginia.

Rotunda Capital Partners acquired KSS in 2022, adding it on as a division to American Equipment Solutions (AES), another Rotunda platform. KSS completed three acquisitions in 2023—Memphis Scale Works, American Scale Company, and American Welding Service—followed by Velcon Filling Systems in 2024. AES then sold the KSS division to Investcorp in November 2025, with KSS’s management retaining an equity stake alongside its new sponsor. Investcorp acquired KSS through its North American Private Equity Fund I LP, which closed in February 2023 with $1.2 billion of capital. In May 2026, KSS launched an employee ownership plan (EOP) that granted equity to full-time workers with at least one year of service. According to KSS, its EOP is the first of its kind in the scales and weighing industry.

“The Strack Scale team has built exactly the kind of business we look to partner with – highly trained technicians, deep customer relationships, and an unwavering commitment to quality and service,” said Mr. Carsten. “We’re proud to welcome them to our platform and to extend our Employee Ownership Plan to their team, so that everyone who helped build Strack Scale can share in what we build together.”

Investcorp is active in alternative investments, including private equity, real estate, absolute return investments, and credit management. Since its founding in 1982, Investcorp has closed more than 200 private equity transactions across a range of sectors, including retail and consumer products, technology, business services, and industrials. Its North America private equity group has invested in North American middle-market businesses for more than 40 years, completing more than 75 transactions and deploying more than $22 billion in transaction value since inception. Investcorp, with $62 billion of assets under management, has more than 500 employees and multiple offices, including in New York City, London, and Bahrain.

Belmont Medical Technologies, a portfolio company of Audax Private Equity, has acquired Arcos, a developer of clinical software for burn and trauma resuscitation.

Belmont Medical develops fluid management and patient temperature management systems used in trauma, surgery, military medicine, and other critical-care settings.

The company’s flagship product is the Belmont Rapid Infuser RI-2, a system designed to rapidly deliver warmed blood and fluids to patients experiencing severe blood loss. Using electromagnetic induction heating technology, the device provides precise control over fluid temperature and flow rates while incorporating safeguards to reduce the risk of air embolisms during high-volume transfusions.

Belmont’s other products include the Buddy Lite portable blood and fluid warmer for pre-hospital and transport applications, as well as the Allon and CritiCool temperature management systems, which use specialized patient garments to regulate body temperature in critical-care environments. The company, led by CEO Brian Larkin, was founded in 1980 and is headquartered near Boston in Billerica, Massachusetts.

The buy of Arcos is Belmont’s third add-on since being acquired by Audax in December 2017. Earlier add-ons included HC LIFE Ltd. in the United Kingdom and MTRE Advanced Technologies’ temperature management product lines, both acquired in 2018 as Belmont expanded from a rapid-infusion specialist into a broader provider of critical-care technologies.

Arcos develops software that helps clinicians make better decisions during some of the most critical moments in healthcare, including burn resuscitations, trauma cases, and massive transfusion events.

Arcos’s flagship product, Burn Navigator, was launched in 2013 and provides real-time guidance on fluid administration for adult and pediatric burn patients. The software uses patient-specific clinical data to help physicians manage complex burn resuscitations where both under-resuscitation and over-resuscitation can have serious consequences. Burn Navigator has been used in thousands of burn cases at treatment centers across the United States and internationally.

The company’s second product, BloodNav, was introduced in 2022 and is designed for trauma and surgical settings where patients require massive blood transfusions. The software tracks blood products in real time, calculates transfusion ratios, delivers alerts, and integrates with electronic medical record systems to simplify documentation. BloodNav is designed to mount directly on a Belmont Rapid Infuser IV pole, allowing care teams to monitor transfusions and improve protocol compliance without adding another piece of equipment to an already crowded trauma bay.

“This acquisition marks an important milestone in Belmont’s growth strategy, accelerating innovation and the company’s next phase of growth,” said Brian Larkin, the CEO of Belmont Medical. “I am pleased to welcome the Arcos organization to the Belmont family of dedicated team members and life-saving medical solutions.”

The addition of Arcos expands Belmont’s role beyond supplying equipment and into the clinical decision-making process itself. The move reflects a trend across the medical technology sector, where manufacturers are increasingly pairing hardware with software and service offerings to deepen customer relationships and create more integrated solutions. The fit is particularly compelling with BloodNav, which was designed to work directly with Belmont’s Rapid Infuser platform. For hospitals already using Belmont equipment in trauma and emergency settings, the combination creates a more comprehensive offering that links the device, the data, and the clinical workflow into a single system.

Arcos was founded in 2009 by Dr. George Kramer, a physician whose background includes service in the U.S. Air Force and Department of Defense-sponsored burn care research, and Chris Meador, who serves as the company’s chief executive officer. Arcos is headquartered near Houston in Missouri City, Texas.

“Joining Belmont will allow us to expand the use of BloodNav in the trauma setting, with the goal of improving patient care with a very intuitive and streamlined MTP performance-improvement and transfusion-documentation tool,” said Mr. Meador. “BloodNav naturally resides on The Belmont Rapid Infuser IV pole, uniting process improvement and blood-product tracking with the gold-standard for rapidly warmed fluid delivery during MTPs.”

Audax is a middle-market private equity firm headquartered in Boston, with offices in San Francisco, New York, London, and Hong Kong. The firm is currently investing through its $5.25 billion seventh fund and seeks North American-based middle-market companies with EBITDA between $20 million and $80 million. Audax was founded in 1999, manages approximately $19.5 billion in assets, has invested in more than 180 platform companies, and has completed more than 1,400 add-on acquisitions.

Forged Solutions Group, a J.F. Lehman & Company portfolio company and provider of high-specification forgings used in the aerospace, defense, and space markets, has acquired Custom Alloy Corporation.

Custom Alloy was acquired by Trident Maritime Systems, a J.F. Lehman portfolio company, through a bankruptcy process in 2023. The new transaction effectively realigns the business within J.F. Lehman’s portfolio following the firm’s acquisition of Forged Solutions Group from Arlington Capital Partners in March 2026.

Forged Solutions Group (FSG) manufactures high-specification forged metal components used in aerospace, defense, and space applications. The company’s capabilities include rolled ring, closed-die, open-die, and extrusion forging processes, producing components from nickel, titanium, steel, and aluminum alloys.

Rolled ring forging shapes metal into strong circular parts; closed-die forging presses metal into molds to create precise, high-strength components; open-die forging compresses metal between flat surfaces to form larger or custom pieces; and extrusion forging forces metal through a shaped opening to produce long, uniform parts.

FSG products include rotating aeroengine discs and shafts, structural airframe components, and space-launch hardware, each designed to withstand high temperatures and mechanical stress inside jet engines and other propulsion systems. Customers include global original equipment manufacturers and Tier 1 suppliers that integrate these parts into commercial and military aircraft engines.

Custom Alloy (CAC) is a vertically integrated manufacturer of open- and closed-die forgings and seamless and welded pipe fittings that are used in high-pressure lines, corrosive environments, heat-severe conditions, and nuclear programs. CAC works with more than 170 alloys, including nickel, titanium, aluminum, and stainless steel, and handles the full manufacturing process in-house — from conversion and machining to heat treatment and testing.

CAC holds Level 1 qualification from the U.S. Navy as both a forging manufacturer and a fitting manufacturer, one of only three companies nationally to hold both designations. The company is the sole-source manufacturer for Columbia-class Main Seawater Fittings and is dual-sourced for Virginia-class Main Seawater Fittings, positioning it as a supplier across subsurface and surface naval programs.

Custom Alloy operates four manufacturing facilities totaling approximately 450,000 square feet with a workforce of more than 190 employees. The company was founded in 1968 and is headquartered near Allentown in High Bridge, New Jersey.

“We are delighted to welcome CAC into the FSG family. This combination further enhances FSG’s reputation as a world-class provider of high-specification forgings and presents opportunities to cross leverage forging process IP across both companies to further optimize operational capacity,” said Olivier Jarrault, CEO of FSG. “We look forward to supporting CAC’s continued growth under FSG ownership.”

The acquisition of CAC gives FSG a foothold in one of the most strategically important corners of the U.S. defense industrial base. The timing is not accidental. The U.S. Navy is simultaneously building the Columbia-class ballistic missile submarine and the Virginia-class attack submarine programs, while the AUKUS partnership with the United Kingdom and Australia is expected to drive additional long-term demand for nuclear-qualified submarine components.

At the same time, Shipbuilding capacity has become a growing concern in Washington. Congress and the Department of the Navy have repeatedly pointed to bottlenecks among the specialized manufacturers that produce critical forgings, castings, and fittings. That makes suppliers like CAC increasingly valuable. The company’s Level 1 certifications and sole-source position on Main Seawater Fittings for the Columbia-class submarine program give it a protected place in a supply chain where qualified competitors are few and new entrants face significant hurdles.

“The acquisition of CAC strengthens and diversifies the FSG platform by adding attractive U.S. nuclear navy exposure,” said Alex Harman, a managing partner at J.F. Lehman. “We believe the company is well positioned to support the U.S. Navy’s fleet modernization efforts and the renewed prioritization of and investment in the shipbuilding supply chain.”

J.F. Lehman is a middle-market private equity firm primarily focused on the maritime, defense, and aerospace sectors. The firm typically invests between $50 million and $350 million in companies with EBITDA ranging from $10 million to $75 million. J.F. Lehman is headquartered in New York City, with an additional office in Washington DC.

Arxis, a portfolio company of Arcline Investment Management, has expanded through the acquisitions of Omnetics Connector and MagCanica. The combined purchase price for both companies is approximately $890 million, representing 12 times the estimated FY 2027 adjusted EBITDA of Omnetics and MagCanica.

Omnetics designs and manufactures micro-miniature and nano-miniature connectors and interconnect systems used in aerospace, defense, space, medical, and industrial applications. The company’s Nano-D-Sub and Micro-D-Sub connectors — compact, high-density interconnect devices built to the D-subminiature standard — are specified in critical defense and space platforms where size, weight, and the consequences of failure are governing constraints. The company’s connectors are found on long-tenured programs, where established suppliers hold qualification positions that are highly difficult for competitors to displace.Omnetics, led by President Gary Jacobs, was founded in 1984 and is headquartered in Minneapolis. “Arxis shares our deep commitment to innovation, quality, and the customers who rely on us,” said Mr. Jacobs. “Joining Arxis gives us the resources and platform to accelerate investment in our products, our technology, and our people, while continuing to deliver high performance and reliability to our customers.”

“Omnetics is exactly the kind of business we built Arxis to own,” said Kevin Perhamus, the president and CEO of Arxis. “For over 40 years, the company has been the trusted standard in Nano- and Micro-D-Sub connectors for applications where failure is not an option, earning preferred-source positions on long-tenured programs that are highly difficult to replicate.”

MagCanica designs and manufactures non-contact torque sensors that measure torque on rotating shafts without physical contact — a key distinction for high-speed and high-temperature applications where conventional contact-based measurement would be impractical or unreliable. The company’s magnetomechanical sensor systems operate at rotational speeds exceeding 140,000 rpm and have been certified to military specifications for production deployment on hovercraft turboshaft engines for the U.S. Army and U.S. Navy in collaboration with Sikorsky, a division of Lockheed Martin.

MagCanica’s sensors are also installed across every major motorsport series — Formula 1, Formula E, IndyCar, NASCAR, the WEC Hypercar class, IMSA GTP, and cross-country rally — in applications where real-time torque data is used for powertrain management. San Diego-headquartered MagCanica, led by Co-founder and President Sami Bitar was founded in 2000.

“MagCanica’s non-contact torque sensors are highly complementary to our existing military flexible driveshaft capabilities and address a growing need across aerospace and defense for real-time monitoring of mission-critical rotating systems,” said Mr. Perhamus. “We see clear runway to cross-sell this technology alongside the Arxis portfolio where operators require precise visibility into performance under heavy loads.”

“The addition of Omnetics and MagCanica reinforces the power of the Arxis–Arcline partnership in creating a repeatable engine of value creation for Arxis as a next-generation industrial compounder,” said Rajeev Amara, the CEO of Arcline. “Arcline provides Arxis with institutional capabilities that complement Arxis’ operating expertise, including research-driven market mapping, proprietary sourcing access, disciplined underwriting, and capital allocation expertise. These capabilities, which are difficult for a standalone strategic acquiror to replicate, expand Arxis’ addressable acquisition universe and strengthen its ability to acquire high-quality businesses with leading positions on long-duration platforms.”

The global aerospace and defense connectors market, the primary end market for Omnetics, was valued at $4.3 billion in 2026 and is projected to reach $5.5 billion by 2031, according to Mordor Intelligence, representing a compound annual growth rate (CAGR) of 5.1%. Mordor identifies sustained investment in defense-platform electrification, space applications — growing at an 8.3% CAGR within the connector market — and avionics modernization as the primary demand drivers. The miniaturization requirements that define Omnetics’ Nano- and Micro-D-Sub product line are amplified by the proliferation of small satellites, unmanned aerial vehicles (UAVs), and next-generation wearable soldier systems, all of which place a premium on the density and reliability that sub-miniature connectors provide.

Today, with the acquisitions of Omnetics and MagCanica, Arxis has completed 34 acquisitions, operates 72 manufacturing facilities, employs approximately 5,750 people, and generates annual revenue of $1.6 billion. Arxis is headquartered near Hartford in Bloomfield, Connecticut.

Arcline’s build-up of Arxis began in July 2019 with the acquisition of Integrated Polymer Solutions. The firm’s electronics strategy accelerated in November 2020 with the acquisition of Evans Capacitor, a Rhode Island-based manufacturer of high-reliability capacitors, followed in December 2020 by the acquisition of Ohmega Technologies, a California-based producer of embedded thin-film resistive materials.

In January 2021, Arcline formed Quantic Electronics by combining Evans Capacitor, Ohmega Technologies, and newly acquired TRM Microwave. Quantic expanded rapidly through a series of acquisitions that included Planar Monolithics (March 2021), Union Technology (June 2021), BEI Precision (August 2021), and ECI Transcon (September 2021).

In July 2022, Arcline formed Qnnect through the acquisition of Custom Interconnects, establishing it as a second electronics platform alongside Quantic. The firm’s largest transaction followed in April 2024 with the $1.8 billion acquisition of Kaman Corporation, adding a major aerospace and defense components manufacturer.

By late 2025, Arcline had assembled a collection of electronics, aerospace, and engineered components businesses and in October 2025 reorganized IPS, Quantic, Qnnect, Kaman, and several other holdings into a single corporation called Arxis. The company filed for an initial public offering in March 2026 and began trading on the NASDAQ under the ticker ARXS in April 2026, raising approximately $1.0 billion.

Arcline makes control investments in companies with recurring revenue models across sectors such as defense and aerospace, industrial and medical technology, life sciences, and specialty materials. The firm targets companies with EBITDA ranging from $10 million to $100 million and enterprise values of up to $1 billion. In March 2023, Arcline closed its third fund with $4.5 billion in capital commitments, following its $2.75 billion second fund closure in January 2021.

William Blair & Company was the financial advisor to Arxis on the Omnetics transaction, and Vermillion Capital was the financial advisor to Omnetics. Kroll Securities was the financial advisor to MagCanica.

The acquisition of MagCanica closed on June 1, 2026, and the Omnetics transaction is expected to close before the end of the third quarter.

Scholl’s Wellness Company, the Yellow Wood Partners portfolio company that operates the Dr. Scholl’s brand, has acquired VKTRY Gear, a maker of aerospace-grade carbon fiber performance insoles.

VKTRY Gear makes full-length carbon fiber insoles engineered to improve athletic performance by maximizing energy return and reducing lower-leg injuries. The product line spans over-the-counter offerings — the Gold and Silver VK insoles, calibrated across five degrees of flexibility based on athlete weight and sport — as well as the Platinum VK, a custom-orthotic option combining the carbon fiber baseplate with a personalized fit. Athletes at more than 600 professional and collegiate programs use VKTRY insoles. The brand has also expanded into recovery footwear with the VKTRY Recovery Clog.The company sells primarily through direct-to-consumer and e-commerce channels, with a social media following of 1.6 million. Independent research from the Korey Stringer Institute and Harvard Mass General has been cited in support of the product’s performance claims. Among the brand’s notable endorsers: All-Pro running back Jonathan Taylor, who wore VKTRY insoles while leading the NFL in rushing yards.

VKTRY Gear was co-founded by Matt Arciuolo, a board-certified pedorthist, with his wife Felicia Arciuolo in 2015. The company’s origins trace to Arciuolo’s work as the certified pedorthist for the USA Olympic Bobsled and Skeleton teams, where he developed an early carbon fiber prototype that contributed to the team’s 2010 gold medal — their first in 62 years. The company received its U.S. and international patents that same year it was founded. Today, the company is led by CEO Steve Wasik and is headquartered in Milford, Connecticut.

“VKTRY represents the type of differentiated, family-owned brand that we have found success partnering with at Yellow Wood,” said Dana Schmaltz, a partner at Yellow Wood. “Matt and his team have built an authentic connection with athletes and consumers through their differentiated performance insoles that deliver tangible performance benefits. The VKTRY product lines fits well with our overall goal to position Dr. Scholl’s as the lead innovator and go to solution for consumer wellness leading to better performance, recovery, confidence and comfort, starting at one’s feet. We look forward to leveraging the Dr. Scholl’s scale and resources to build upon VKTRY’s momentum and continue to accelerate the existing growth across the portfolio by introducing new customers to the benefits of performance insoles.”

Scholl’s Wellness — headquartered in Parsippany, New Jersey — is the parent company of the Dr. Scholl’s brand, which William Mathias Scholl founded in Chicago in 1906. The brand operates across mass, drug, food, specialty, and e-commerce retail channels, selling insoles, inserts, skincare and foot grooming products, and first-aid foot solutions in more than 50 countries. Meghan Davis has served as CEO since February 2025, succeeding Jay Rogers.

Yellow Wood acquired the Dr. Scholl’s brand in the Americas from Bayer AG in 2019 for $585 million and formed Scholl’s Wellness Company as a standalone entity under that transaction. In 2021, Yellow Wood acquired the Scholl brand for markets outside the Americas from Reckitt Benckiser, reuniting global rights to the brand under a single owner for the first time in more than three decades. The VKTRY acquisition represents the latest add-on to the Scholl’s platform.The broader shoe insoles market is on a steady growth trajectory. According to Grand View Research, the global shoe insoles market is projected to grow from $6.2 billion in 2024 to $9.7 billion by 2033, a compound annual growth rate (CAGR) of 5.1%. Grand View notes that carbon fiber insoles represent one of the faster-growing material segments, with that category expected to expand at a 6.2% CAGR through the same period. The sports and athletic sub-segment — where VKTRY competes — continues to outpace the broader market, supported by rising participation in fitness activities and increased consumer focus on injury prevention.

“Partnering the strong brand and scale of Dr. Scholl’s with VKTRY’s high-growth, direct-to-consumer business represents a unique opportunity to extend customer lifecycle and capture new demographics for both businesses,” said Tad Yanagi, a partner at Yellow Wood. “VKTRY’s viral e-commerce business and hyper-loyal customer base brings a dynamic new aspect to the Dr. Scholl’s platform. We are excited to work closely with the VKTRY and Dr. Scholl’s teams to capitalize on customer acquisition and innovation opportunities that we believe will drive material expansion across business lines.”

Yellow Wood invests in consumer brands and companies that operate in the mass, drug, food, specialty, value, club, and e-commerce channels, and have EBITDA from $10 million and $50 million. In April 2022, Yellow Wood closed Yellow Wood Capital Partners III LP at its hard cap with $750 million of limited partner capital commitments. Fund III was oversubscribed and included commitments from many of Yellow Wood’s long-time limited partners. Yellow Wood’s earlier fund closed in July 2017 with an oversubscribed $370 million of committed capital.

A century-old Midwest specialty chemical manufacturer is joining forces with one of the more established names in institutional cleaning chemistry. Diamond Chemical Company, a Graycliff Partners portfolio company, has acquired Nyco Products Company, a manufacturer of specialty cleaning chemicals for janitorial, food processing, healthcare, and education markets.

Nyco was founded in 1920 in Chicago by Vince Nyhan as the Nyhan Company, initially selling bottled water and powdered cleanser before building the business into a broad specialty chemicals platform. Today, the company manufactures more than 450 stock and custom formulations across cleaners, disinfectants, sanitizers, and floor care products for distributors serving facility maintenance, janitorial, food processing, healthcare, and education end markets.

The company’s nationally recognized proprietary brands include Marvalosa, e.logical, Chem-Prix, and Zing. It also operates Building Better Brands, a private chemical branding program that helps distribution customers develop their own labeled product lines.

A group of Nyco employees — including CEO Bob Stahurski Sr., Bob Houston, and Jim Shea — purchased the business in 1985. The company has been headquartered near Chicago in Countryside, Illinois since 1998, when it relocated operations to a new 65,000-square-foot facility.

Mr. Stahurski, built the company’s distributor relationships and trade presence over decades, including serving as president of ISSA (International Sanitary Supply Association) in 2009. He is retiring in connection with the transaction. “The sale of our business to another dynamic company preserves our history and culture while ensuring that our customers continue to receive the same high level of quality, reliability, and service,” said Mr. Stahurski. “In addition, we are excited to gain access to Diamond’s full line of product innovations.”

Diamond manufactures soaps, detergents, and warewash chemicals for hospitality, food service, commercial laundry, and other institutional and industrial end markets, serving more than 1,000 customers across laundry, warewash, housekeeping, floor care, sanitizing, and pool care applications.

A vertically integrated operation, Diamond produces over four million pounds of product weekly from facilities on the East and West coasts. It manufactures its own blow-molded containers and operates automated filling lines, on-premises rail siding, company-owned trucks, and bulk storage to support supply continuity and quality control.

Diamond was founded in 1930 by Jacob Diamond and is today headquartered in Rutherford, New Jersey. Wesley Alves has served as CEO since October 2025, succeeding Harold Diamond — the founder’s grandson — who now serves as a partner and strategic adviser.

“This combination is a transformative step for Diamond,” said Mr. Alves. “Nyco brings deep formulation expertise, a strong brand portfolio, and a Midwest manufacturing footprint that complements our coastal operations. Together, we can offer customers and distributors broader product availability and stronger national service.”

Graycliff invested in Diamond in July 2024. The Nyco acquisition adds a Midwest manufacturing node and an established specialty chemicals distributor network to a platform Graycliff positioned from the outset for add-on acquisitions. The combined company carries more than 200 years of operating history between the two businesses.

“Diamond and Nyco are exceptional businesses with deeply loyal customer bases built over generations,” said Matt Smith, a principal at Graycliff. “We’re excited that the Nyco team is joining Diamond and look forward to supporting the team and the combined organization in this next phase of growth.”

The global industrial and institutional (I&I) cleaning chemicals market generated approximately $80 billion in revenue in 2024, according to Grand View Research, and is projected to reach $167 billion by 2033, at a compound annual growth rate (CAGR) of 8.6%. Grand View cites disinfectants and sanitizers as the fastest-growing product category within the market, expanding at an 8.4% CAGR through that period, driven by heightened hygiene standards across healthcare, food processing, and hospitality environments. North America held a 33% revenue share of the global market in 2024, reflecting the region’s broad institutional customer base and stringent regulatory requirements.

Graycliff Partners, formed in December 2011 as a spin-off from HSBC Capital and headquartered in New York, makes lower middle market investments in niche manufacturing, value-added distribution, and industrial services businesses. The firm invests between $10 million and $50 million per company, targeting EBITDA between $4 million and $20 million, and manages dedicated equity and credit funds. Its most recent private equity fund, Graycliff Private Equity Partners V LP, closed in October 2023 at its hard cap of $600 million in limited partner commitments.

University Termite & Pest Control, a family-owned pest management company serving residential and commercial customers across Arizona since 1974, has been acquired by PestCo Holdings, a national pest control platform backed by Thompson Street Capital Partners.

University Termite offers pest, termite, and weed control services to residential and commercial accounts across the state of Arizona, including schools, hospitals, food preparation facilities, and other sensitive environments. The company employs an integrated pest management (IPM) approach — a method that uses monitoring, prevention, and targeted treatment to manage pest populations with minimal environmental impact. It is one of three pest control companies with the infrastructure to service all of Arizona.

Rick Rupkey Sr. co-founded the company in Tucson in December 1974, with early roots near the University of Arizona. Ryan Horn and his wife, Krista Horn, purchased the business in 2020 after Mr. Rupkey’s death in 2019. Ryan Horn has worked in the pest management industry since 1996.

“After contemplating for years and speaking to many companies about selling University, we felt the most comfortable with PestCo,” said Ryan and Krista Horn in a releases statement. “The PestCo team is very patient and thorough; we never felt an ounce of pressure. We are very pleased with the decision to work with PestCo and their assurances to take care of our valued employees and customers.”

PestCo was formed in late 2021 by Thompson Street in partnership with industry executive Jay Keating, who serves as CEO, with the explicit purpose of consolidating the fragmented pest control industry. Its first acquisition, Presto Pest Control in Telford, Pennsylvania, closed in November 2021. Since then, PestCo has grown through more than 20 acquisitions across the mid-Atlantic, Pacific Northwest, Midwest, Texas, and Southwest, including Pointe Pest Control, United Pest Solutions, Green Mango Pest Control, Arizona’s Best Choice Pest & Termite Services, and Southwest Exterminating, among others. The University Termite acquisition marks the company’s third entry into Arizona. PestCo is headquartered in St. Louis.“We’re excited to continue our growth in the great state of Arizona,” said Mr. Keating. “The University team brings tremendous commercial expertise in addition to a strong residential program. Our goals remain the same as with any acquisition – earn customer loyalty and create opportunities for our employees.”

The U.S. pest control industry generated approximately $29.7 billion in revenue in 2026, according to IBISWorld, growing at a compound annual growth rate of 3.4% over the prior five years. IBISWorld projects continued growth over the next five years, with demand sustained by a highly fragmented provider landscape — more than 34,000 businesses operate in the sector — that continues to invite consolidation by national platforms.

“Thompson Street is pleased to back PestCo’s continued growth in the Southwest with the acquisition of University Termite & Pest Control, a well-established provider with a strong regional footprint,” said Dan Cooper, a managing director at Thompson Street.

Thompson Street is a St. Louis-based firm that makes equity investments of $50 million to $250 million in companies with EBITDA between $5 million and $50 million. Sectors of interest include healthcare and life science services, software and technology services, business and consumer products and services. Its most recent fund, Thompson Street Capital Partners VI, closed in August 2022 at more than $1.5 billion, exceeding its target. Mr. Cooper led the Thompson Street deal team.

Relevant Solutions, a portfolio company of Fusion Capital Partners, has acquired Automation Werx, a provider of industrial automation and systems integration services to dairy operators, municipal water systems, and agricultural businesses.

Automation Werx designs and builds custom electrical control panels that house the switches, wiring, controllers, and electronics used to operate industrial machines and systems. The company also develops and programs the software that controls those systems, including PLCs (programmable logic controllers), HMIs (human-machine interfaces), and SCADA (Supervisory Control and Data Acquisition) platforms used to monitor and manage industrial operations. In addition to design and fabrication, Automation Werx provides installation, commissioning, and ongoing maintenance services.

The company is headquartered in Idaho Falls, Idaho, and is led by CEO Trevor Steffler. “We’ve spent over a decade building a team and a reputation in this region, and joining Relevant Solutions is the right next step,” said Mr. Steffler. “Relevant gives us the backing to take on larger, more complex projects while staying true to the responsive, solutions-first culture our customers have always counted on. I’m proud of what this team has built, and I’m excited about where we go from here.”

Relevant provides industrial equipment and engineering services to companies operating in the refining, petrochemical, renewable energy, food processing, and municipal infrastructure sectors. Examples of the equipment it provides include actuated valves and thermal equipment, instrumentation and automation systems, rotating equipment, and purification systems.

Relevant, led by CEO John Carte, is headquartered in Houston and operates over 30 locations across the United States.

The buy of Automation Werx is the first add-on acquisition for Relevant since Fusion acquired a majority interest in the company (then Relevant Industrial) in May 2025 from LKCM Headwater. LKCM invested in Relevant in 2010 to acquire Wilson Mohr, a distributor of industrial automation and process control equipment and systems. During LKCM’s ownership term, the company closed more than 20 add-on acquisitions.

Relevant’s acquisition of Automation Werx adds expertise in water and wastewater, dairy, and agriculture automation markets and expands the company’s service coverage into the Intermountain West, including Idaho, Wyoming, and Montana.

“Bringing Automation Werx into the Relevant Solutions family marks a meaningful expansion of what we can offer our customers,” said Mr. Carte. “Their hands-on expertise in controls integration, SCADA, and panel fabrication fills a gap in our capabilities, particularly in agriculture and water/wastewater markets where precision automation is critical.”

Fusion Capital makes control investments in North American-based companies that have EBITDA of $10 million to $30 million. Specific areas of interest are engineered products and essential services businesses serving industrial and commercial markets. The firm was founded in January 2024 and is headquartered in Los Angeles.

The Vasco Group, a sports surfaces company and a portfolio company of Monogram Capital and Halmos Capital since April 2025, has acquired Howard B. Jones & Son and Court Surfaces of Florida.

The Vasco Group is a provider of sports surfacing services, including construction, resurfacing and maintenance of athletic fields and courts used by K–12 schools, universities, municipalities, homeowner associations and professional athletic organizations. The company’s capabilities include asphalt and synthetic turf surfacing, track and tennis court installations, and maintenance.

Vasco also provides related services such as fencing and lighting, with projects ranging from smaller community courts to larger athletic complexes. In addition to its own employees, Vasco also utilizes American Sports Builders Association-certified builders.

Vasco was founded in 1967 and is headquartered south of Akron in Massillon, Ohio, with an additional facility in Florida where it operates under the Nidy Sports Construction brand.

South Carolina-based Howard B. Jones & Son, founded more than 50 years ago, provides tennis court design, repair and maintenance services across several Southeastern states. The business specializes in Har-Tru and Hydro Court clay systems, along with acrylic hard court construction and resurfacing, and also provides pickleball and basketball surface services.Jacksonville-headquartered Court Surfaces of Florida provides new court construction, resurfacing and repair services for tennis, pickleball and basketball facilities, and running tracks. The company services municipalities, schools and private organizations across the Jacksonville/St. Augustine metropolitan area.

“Howard B. Jones and Court Surfaces are exactly the kind of founder-led, reputation-driven businesses we look to partner with. Both bring strong regional coverage, deep technical expertise, and a real cultural fit with how we operate at Vasco,” said Matt Savage, CEO of Vasco Group. “These acquisitions are the result of deliberate work, scouting the country for well-established businesses that strengthen our existing footprint while opening doors in new markets. They reflect the momentum we built in 2025 and keep us firmly on track toward building the most comprehensive sports surfacing platform in the country.”

The sports surfacing sector has seen steady demand driven by growth in tennis and pickleball, along with ongoing upgrade and maintenance needs. Municipal spending and outsourcing trends continue to support activity, while aging courts require regular replacement to meet usage and safety standards.

Several major investment banks that cover the sector point to a recurring, cycle-driven model underpinning the sector. Resurfacing typically occurs every four to eight years, creating consistent demand tied to usage rather than new construction. At the same time, rising pickleball participation is driving court conversions, and the fragmented contractor base continues to present consolidation opportunities for scaled platforms.

Monogram Capital invests up to $75 million of equity in companies with revenues of $5 million to $250 million. Sectors of interest include food and beverage, beauty and personal care, pet products, manufacturing and multi-location businesses. Monogram was founded in 2014 and is headquartered in Beverly Hills, California.

Halmos Capital invests in North American lower middle market businesses that have revenues of $10 million to $100 million and EBITDA of $2 million to $30 million. The firm was founded by Andrew Cohan in 2010 and is headquartered in Coral Gables, Florida.

Urban Armor Gear, a portfolio company of HKW since August 2018, has acquired Nomad Goods, a designer and manufacturer of smartphone and smartwatch accessories.

Nomad’s products include charging cables, wireless chargers and protective cases, including Base Station wireless charging hubs used to power multiple devices simultaneously; Horween leather iPhone cases; and Sport Bands for smartwatches. The company’s products are sold primarily through a direct-to-consumer channel via the company’s website, alongside selective wholesale distribution. Nomad, founded in 2012 by CEO Noah Dentzel and COO Brian Hahn, is headquartered in Santa Barbara, California.

Urban Armor Gear (UAG) designs and sells protective accessories for consumer electronics, with a primary focus on mobile devices. The company’s core products include rugged smartphone cases engineered to protect devices from drops and impact, tablet and laptop sleeves designed for portability and protection, and portable power accessories such as battery packs and charging gear.

The company distributes its products through both retail channels and online platforms, combining direct-to-consumer sales with wholesale partnerships. The company, led by CEO Scott Hardy, was founded in 2012 and is headquartered in Irvine, California.

“For years we’ve admired the Nomad brand and their commitment to product quality and extremely strong DTC presence,” said Mr. Hardy. “Over the past few years, it became very clear to us that combining the strengths of Nomad with the global operational capabilities of Urban Armor will potentially allow Nomad to reach its full potential and be a natural fit. The team is extremely excited for this merger.”

HKW invests in North America-based companies in the manufacturing, distribution and business services sectors that have EBITDA between $5 million and $30 million. HKW’s latest fund, HKW Capital Partners VI LP, closed in 2021 with $365 million in committed capital. The firm was founded in 1903 by Paul Hammond and is headquartered in Indianapolis, with an additional office in New York City.

Pelican Energy Partners has acquired Environmental Alternatives, a provider of environmental remediation and nuclear decontamination services.

Environmental Alternatives (EAI) performs site assessment and remediation work, manages hazardous waste and conducts nuclear decontamination. The company’s services are used in projects involving both radioactive and hazardous materials, from industrial site cleanups to nuclear facility maintenance and decommissioning. The company is headquartered 90 miles northwest of Boston in Swanzey, New Hampshire.

The buy of EAI is Pelican’s most recent add-on for Quantum Containment Systems, the firm’s nuclear containment and services platform. With this acquisition, EAI joins four other businesses under the Quantum umbrella: Advanced Technology Group, a Colorado-based maker of containment products used in the nuclear and radio-pharmaceutical industries (November 2023); Container Technologies Industries, a Tennessee-based manufacturer of containment and shielding systems used in nuclear waste handling (December 2023); Lancs Industries, a New Mexico-based maker of radiation shielding and containment materials (September 2024); and Skolnik Industries, an Illinois-based manufacturer of industrial containers and packaging used in the transport of hazardous and nuclear materials (January 2025).“We are excited to partner with Pelican, who shares our focus on safety, technical excellence, and long-term value creation in critical infrastructure services,” said Randy Martin, the president of EAI. “Pelican’s experience in building and scaling energy services platforms will support our continued growth as we expand our role in nuclear containment, environmental remediation, and radiological services.”

“EAI’s proprietary technology allows customers to decontaminate high level to low level radioactive material in a variety of media from concrete to steel. This technology keeps workers and the environment safe while saving customers millions of dollars in a decommissioning process. Using EAI to reduce nuclear waste provides the social license for the nuclear industries continued growth.” said Paul Ernster, a vice president at Pelican.

Pelican Energy makes equity investments in small- to middle-market energy services and equipment companies operating in the oil, gas and nuclear energy sectors. These target companies typically have EBITDA ranging from $1 million to $15 million. Since founding in 2012, the firm has raised four funds totaling more than $1 billion in capital and invested in 33 platform companies.

Amlon Group has acquired Excel TSD in a transaction completed by Heartwood Partners through its portfolio company The Amlon Group.

The Amlon Group specializes in waste-to-value processing, focusing on recycling industrial byproducts rather than disposing of them in landfills. Specifically, Amlon processes metal-bearing waste streams from industries such as oil refining and semiconductor manufacturing, recovering valuable metals like copper, nickel and cobalt, which are then sold back into the supply chain. The company, led by CEO Mark Wayne, is headquartered near Dallas in Plano, Texas.

Excel TSD operates an RCRA (Resource Conservation and Recovery Act) Part B permitted facility for hazardous and non-hazardous waste treatment, storage and disposal. Founded in 2003 and headquartered in Memphis, Tennessee, Excel provides onsite industrial services, waste blending and disposal capabilities to customers across multiple sectors.

“The Excel acquisition is a transformative addition to the Amlon platform,” said Mr. Wayne. “Excel’s industrial onsite services, waste-blending capabilities, and hazardous waste disposal permit and expertise open additional new waste streams for us, complementing our existing processing and treatment infrastructure.”

In December 2025, Heartwood Partners closed a continuation fund for Amlon with $245 million in capital. The new fund was led by Apogem Capital alongside New 2ND Capital, Reinsurance Group of America, Mercer Investments, Round2 Investment Partners and Flexstone Partners. The acquisition of Excel TSD is Amlon’s third add-on since the closing of Heartwood’s continuation vehicle and the seventh completed under Heartwood’s ownership.

Since Heartwood’s initial investment in Amlon in December 2021 through its third fund, Amlon has closed the following add-on acquisitions: Louisiana-based Thermaldyne (September 2022); Texas-based Paragon Southwest (June 2023); Tennessee-based Music City Group (June 2023); Texas-based EcoWerks (January 2024); Tennessee-based Mastermelt America (2024); Texas-based Lion Industrial Resources (March 2026); and now Tennessee-based Excel TSD (April 2026).

“Beyond the Excel TDS facility, this acquisition strengthens our geographic presence in the Mid-South region and gives us access to a diversified customer base across multiple end markets,” added Mr. Wayne. “We see meaningful opportunities to drive growth by cross-selling Amlon’s full suite of environmental services to Excel’s customers, implementing commercial best practices, and investing in the operations to maximize the facility’s capacity.”

“We are proud to support Mark and the entire Amlon team in completing what has been a steadfast but highly strategic transaction,” said Demetrios Dounis, a managing partner at Heartwood. “The Excel acquisition is a compelling example of Amlon’s ability to identify and execute on strategic add-on opportunities that expand the company’s capabilities and geographic reach.”

Heartwood Partners invests in U.S.-based companies with revenues between $20 million and $250 million and EBITDA between $3 million and $30 million. Sectors of interest include food, agriculture, specialty chemicals, niche manufacturing, packaging, and industrial and consumer services. Heartwood is currently investing through its fourth fund, Heartwood Partners Fund IV LP. The Norwalk, Connecticut-based firm was founded as Capital Partners in 1982 and rebranded as Heartwood Partners in September 2020.

Midland Industries, a portfolio company of Gemspring Capital, has acquired Trading Services International.

Trading Services International (TSI) distributes industrial components primarily used in the HVAC sector. The company supplies aluminum, copper, and brass fittings, valves, and coils that are used by OEMs in the production of HVAC systems and related equipment.

The acquisition of TSI expands Midland’s product portfolio and adds sourcing capabilities in aluminum, copper, and brass components used in HVAC applications. TSI’s relationships with OEM customers and other global suppliers are expected to extend Midland’s reach within those channels. TSI, led by CEO Joel Darr, was founded in 1988 and is headquartered in New York City.

“We are excited to join the Midland platform and believe the combination creates meaningful growth opportunities for our customers and suppliers,” said Mr. Darr. “Midland’s complementary portfolio, scale, and operational resources will enhance our capabilities while preserving the service-first approach that has defined TSI.”

Midland Industries manufactures and distributes more than 37,000 SKUs of pipe, valve, and fittings products used across industrial and commercial applications. The company produces and supplies valves, hose assemblies, clamps, and fittings that support fluid transfer, pressure regulation, and connection systems in manufacturing and infrastructure environments. Its products are used in plumbing systems, industrial machinery, utilities networks, and HVAC installations, where durability and compatibility with varying pressure and temperature conditions are required.

Midland is comprised of numerous operating subsidiaries, including Anderson Metals, Midland Metal, Buchanan Rubber, Amiflex, Mid-America Fittings, Stainless Adapters, Champion Brass, Century Brass, Cerro Brass, and Gruner Brass Fittings.

Kansas City‑headquartered Midland, led by CEO Bryan Wight, operates a network of full‑stocking distribution facilities across the United States—in Missouri, California, Texas, Oregon, and Georgia—and Canadian distribution locations through its Buchanan Rubber brand.

Gemspring acquired Midland in September 2023 from Wynnchurch Capital. In addition to the acquisition of TSI, Midland, under Gemspring ownership, acquired Industrial Specialties Manufacturing, a Colorado-based manufacturer of specialty fittings and related components, in 2026; and Cerro Brass, a St. Louis-headquartered provider of brass fittings and components, in 2025.“TSI has built highly differentiated, longstanding customer relationships, supported by a strong reputation for quality and exceptional service,” said Fabian de Armas, executive chairman of Midland. “We are excited to welcome the TSI team to Midland. This acquisition expands our product breadth, enhances our global sourcing capabilities, and positions us to deliver an even more comprehensive offering to both new and existing customers.”

Gemspring invests in companies with revenues of up to $2 billion that operate in the business services, consumer services, financial and insurance services, healthcare, industrial, software, and tech-enabled services sectors. The firm was founded in 2015 and has completed more than 125 acquisitions across its buyout and growth strategies.

In September 2025, Gemspring closed its second non-control investment vehicle, Gemspring Growth Solutions Fund II LP, with $1.1 billion in limited partner commitments. Gemspring was founded in 2015 and is headquartered in Westport, Connecticut, with additional offices in Los Angeles, Charlotte, and Columbus.

The Amlon Group, a portfolio company of Heartwood Partners, has acquired Lion Industrial Resources, a provider of industrial waste management services.

Lion’s services include waste management, tank rental, bulk liquid and solid waste transportation, consulting, oil and metal recycling, cleaning services, and waste profiling and sampling. The company was founded in 2007 and is headquartered near Houston in Channelview, Texas.

The Amlon Group specializes in waste-to-value processing, focusing on recycling industrial byproducts rather than disposing of them in landfills. Specifically, Amlon processes metal-bearing waste streams from industries such as oil refining and semiconductor manufacturing, recovering valuable metals like copper, nickel, and cobalt, which are then sold back into the supply chain. The company, led by CEO Mark Wayne, is headquartered near Dallas in Plano, Texas.

“The Lion acquisition is an excellent strategic fit for Amlon,” said Mr. Wayne. “Lion brings a highly experienced team with deep customer relationships across different end markets where Amlon is already well-positioned. Their service capabilities in waste sampling and analysis, DOT-compliant packaging and containerization, and transportation logistics complement our existing processing and treatment infrastructure. By combining Lion’s front-end waste management expertise with Amlon’s processing capabilities, we can offer customers a truly integrated, end-to-end environmental solution.”

The acquisition of Texas-based Lion is the second add-on acquisition for Amlon since the close of a $245 million continuation fund, led by Apogem Capital in December 2025. The fund’s first acquisition was Mastermelt America, a Tennessee-based facility that processes and treats industrial waste streams from the chemical, pharmaceutical, electronics, aerospace, and power generation industries.Since Heartwood’s initial investment in Amlon in 2021 through its third fund, and prior to the close of the continuation fund, Amlon completed four add-on acquisitions: Thermaldyne (September 2022); Paragon Southwest (June 2023); Music City Group (June 2023); and EcoWater (January 2024).

“Beyond the operational synergies, this acquisition meaningfully expands our customer base. Lion’s established relationships with specialty chemical producers and industrial manufacturers give us an immediate platform for cross-selling Amlon’s full suite of processing, treatment, and disposal services,” added Mr. Wayne. “By bringing Lion’s waste streams in-house through Amlon’s own processing facilities, we can deliver faster turnaround times, tighter quality control, and a more seamless experience for customers who want a single point of accountability for their waste management needs.”

“We are excited to support Mark and the entire Amlon team as they continue to build a differentiated environmental solutions platform,” said Demetrios Dounis, a managing partner at Heartwood. “The Lion acquisition underscores Amlon’s ability to identify and execute on compelling add-on opportunities that expand the company’s customer reach and service capabilities. This transaction is consistent with our thesis that industrial customers increasingly demand comprehensive, single-source environmental solutions. Amlon continues to position itself as the partner of choice for companies that take their environmental compliance and sustainability commitments seriously.”

Heartwood Partners invests in U.S.-based companies with revenues between $20 million and $250 million and EBITDA between $3 million and $30 million. Sectors of interest include food, agriculture, specialty chemicals, niche manufacturing, packaging, and industrial and consumer services. Heartwood is currently investing through its fourth fund, Heartwood Partners Fund IV LP. The Norwalk, Connecticut-based firm was founded as Capital Partners in 1982 and rebranded as Heartwood Partners in September 2020.

Gilbert & Pardue Business Advisors was the financial advisor to Lion Industrial Resources on this transaction.

Mechanix Wear, a portfolio company of Gryphon Investors, has acquired OTEX, a manufacturer of personal protective equipment.

OTEX develops safety apparel and protective equipment such as protective hoods, flame-resistant garments, and safety apparel used in industrial environments where workers are exposed to heat, airborne contaminants, or hazardous materials. Many of OTEX’s customers are active in the utilities, construction, energy, and industrial manufacturing sectors.

OTEX is known for its SMARTHOOD system, which combines protective hood designs with integrated airflow, air-quality monitoring, and cooling features intended to reduce heat stress and improve breathing conditions for workers performing tasks in confined or hazardous environments.

Rohester, New York-headquartered OTEX was founded in 2015 by Jake Weidert, who is remaining with the company post-closing as vice president of technology and materials. OTEX will operate within Mechanix Wear’s Chicago Protective Apparel division.

“OTEX has been a true disruptor, and its deep investment in research and development will continue to accelerate the creation of our next-generation safety solutions. We are excited to collaborate with the OTEX team and welcome them to the Mechanix Wear platform,” said Keith Christiansen, president of the Chicago Protective Apparel division.

Mechanix Wear designs and manufactures high-performance hand protection and protective apparel for automotive, construction, industrial, and tactical applications. The company’s products, sold through more than 20,000 retail outlets, include The Original work glove, M-Pact impact-resistant gloves, and FastFit gloves, used by mechanics, construction workers, military personnel, and industrial technicians.

Mechanix Wear sells its products through industrial distributors and retail channels in more than 70 countries.

The buy of OTEX is Mechanix Wear’s third add-on acquisition since being acquired by Gryphon in 2020 and follows the buys of Kinco, an Oregon-based designer and distributor of work, outdoor, and recreational gloves and work and safety suspenders used in farming, construction, cold-weather, and industrial applications (June 2025); and Chicago Protective Apparel, an Illinois-based manufacturer of personal protective equipment designed to protect workers from arc flash hazards and for use in foundry and welding environments (August 2021).

Mechanix Wear, headquartered north of Los Angeles in Valencia, California, was founded in 1991 by James Hale and is currently led by CEO Jesse Spungin. “OTEX’s patented technologies and leadership in air-quality-driven PPE align perfectly with our mission to deliver trusted, innovative protection to workers,” said Mr. Spungin.

“Mechanix Wear continues to build a differentiated platform of premium, R&D-led protective equipment, and OTEX further strengthens that vision. We’re pleased to support the company’s continued strategic expansion and investment in innovation and growth,” said Ryan Fagan, a partner in the consumer group at Gryphon Investors.

Gryphon Investors is a middle-market private investment firm with more than $10 billion of assets under management. The firm invests across sectors including business services, consumer, healthcare, industrial growth, software, and technology services.

EC M&A was the financial advisor to Mechanix Wear, and Mengel, Metzger, Barr & Co. was the tax and financial advisor to OTEX.

Technimark, a portfolio company of Oak Hill Capital and Pritzker Private Capital, has acquired Rage Custom Plastics, a manufacturer of plastic products used in medical and consumer healthcare applications.

Rage Custom Plastics manufactures injection-molded and injection blow-molded plastic components, including plastic bottles, containers, and specialized molded parts used in medical devices, pharmaceutical packaging, and consumer healthcare products. The company also provides product development services and manufacturing programs for customers seeking specialized packaging and molded components.

Rage was founded in 1961 by Nick Saliaris and today is led by his son, CEO Dan Saliaris. The company is headquartered near Columbus in Hilliard, Ohio, and operates an additional facility in Ohio and two in Virginia.

“My father started Rage 65 years ago with a simple belief,” said Mr. Saliaris. “Take care of your people, do right by your customers, and the business will take care of itself. Technimark’s values, culture, and long-term vision mirror our own, and they bring capabilities and global scale that will create tremendous opportunity for our employees and customers. I feel incredibly proud of what we’ve built — and confident that Rage’s legacy will be even stronger as part of Technimark.”

Technimark manufactures rigid plastic packaging and components that are used in the consumer packaged goods, healthcare, and specialty industrial markets. The company’s products include injection-molded containers, closures, dispensers, and medical device components. Technimark’s packaging systems are used for personal care, food and beverages, and over-the-counter pharmaceuticals. Its healthcare segment provides components for drug delivery devices and diagnostic equipment.

Technimark was founded in 1983 and is headquartered in Asheboro, North Carolina, with additional manufacturing facilities in Pennsylvania, Texas, West Virginia, Mexico, Europe, and China.

“Rage’s talented team, strong culture, and long-term partnerships with strategic healthcare customers make them a perfect acquisition for us. We are excited to welcome the Rage team to the Technimark global organization and look forward to building a stronger future together as we continue advancing our mission to make what makes life better,” said Kris Peavy, chief commercial officer and president of healthcare at Technimark.

Pritzker Private Capital acquired Technimark in 2014 from Quad-C Management and sold a majority interest in the company to Oak Hill Capital in 2021. The acquisition of Rage is the first add-on acquisition for Technimark under Oak Hill ownership.

Over its 40-year history, middle-market-focused Oak Hill Capital has invested in over 115 companies and has raised over $25 billion of capital. The firm is currently raising its seventh flagship fund with a target of $3.75 billion to $5.5 billion. Oak Hill began its investment activities in 1986 as the family office of Robert M. Bass and today has offices in New York City, Menlo Park, and Stamford.

Pritzker Private Capital invests in North America-based middle-market companies that have enterprise values between $200 million and $2 billion and EBITDA of more than $15 million. Sectors of interest include manufactured products and services. The firm targets equity investments between $100 million and $400 million, with the ability to invest up to $750 million per transaction. The Chicago-based firm is led by CEO Tony Pritzker and closed its oversubscribed fourth fund, PPC Fund IV LP, with $3.4 billion in August 2025.