Smart Business Magazine, November 2020

November 2020 Smart Business 21 Deal volume shows signs of normalcy BY MATT ROBERTS A pproximately 28 deals in Northeast Ohio closed in September 2020 compared with 30 in September 2019 There are many signs that suggest that M A activity is returning to normal levels as companies get comfortable with 2020 results and COVIDs known impact on businesses We have also heard from many private equity firms that they are seeing normal levels of deal activity with new sell side activity launching after Labor Day What still is yet to be seen is what level of distressed deal activity will come about because of COVID This has been delayed thus far but we expect it to start showing up in the beginning of Q1 Strategic acquirers were active in September starting with CBIZ which acquired San Francisco based ARC Consulting LLC and ARC Placement Group LLC The combined entities provide specialized accounting and advisory services as well as finance and accounting placement services to high growth companies in the Bay Area EnviroServe also acquired two companies Pennsylvania based Weavertown Environmental Group and Illinoisbased Bodine Services of the Midwest Both acquisitions continue to expand EnviroServes network of environmental remediation and waste management services throughout the United States Westlakebased Nordson acquired UK based vivaMOS a specialized sensor technology company enhancing Nordsons test and inspection capabilities for diverse end markets Cuyahoga Falls based Americhem acquired Denmark based Controlled Polymers expanding Americhems global reach with increased product offerings extended service capabilities and broadened technical expertise Private equity was active throughout the month as well The Riverside Company closed four deals in September Deal of the Month goes to Lakewoodbased Within3 as it raised 100 million from Insight Partners and Silversmith Capital Partners to rapidly expand global growth Within3 is an enterprise wide solution for life science collaboration and communication Its solution provides pharmaceutical companies with global collaboration to bring drugs to market more quickly publish clinical studies host advisory boards and engage virtually on any business initiative with multistakeholder involvement With users in over 150 countries and thousands of implementations worldwide Within3 is the pioneer in enabling complex virtual communication in a secure environment Within3 s management has noted that global demand is surging for life science companies that need virtual work solutions that also meet compliance needs With this funding it is expected to be able to meet this growing demand and accelerate new product innovations for customers DEAL OF THE MONTH SELECTED OHIO MERGERS ACQUISITIONS Closed Target Issuer Name Buyer Investor Name Seller Name Local companies in bold Source Pitchbook Copper Run Research Sep 30 INVIVO Communications The Riverside Company Sep 30 HOMER 3One4 Capital Interlock Partners LEGO Ventures Jamie Beaumont Liquidity Capital Sesame Workshop Stephen Youngwood Trustbridge Partners Vaidya Capital Partners Sep 29 G A Partners The Riverside Company Sep 24 Within3 Insight Partners Silversmith Capital Partners Sep 24 Excergy Align Capital Partners Sep 24 Welded Tubes Lock Joint Tube Steel Warehouse Liberty Steel Products Sep 23 RentPayment MRI Software Priority Technology Holdings Sep 22 AML RightSource Gridiron Capital Clarion Capital Sep 22 NeuroTherapia Alzheimers Drug Discovery Foundation Brain Trust Accelerator Fund II The Cleveland Clinic Foundation Dolby Family Ventures Sep 22 Trachte Palladium Equity Partners Investar Capital Partners MPE Partners Pohlad Companies Sep 21 Euclid Medical Products Auxo Investment Group Precision Products Group Sep 21 Schill Grounds Management Argonne Capital Group Sep 16 Aurum Wealth Management Marcum Wealth Management Aurum Wealth Management Group Sep 15 Shiloh Industries Grouper Holdings LLC MiddleGround Capital Sep 11 Life Science Training Institute The Riverside Company Sep 11 Corrective Eye Center EyeCare Partners Partners Group Sep 10 InbestMe GVC Gaesco Medical Mutual of Ohio Sep 9 StemVax NovAccess Global Innovest Global Sep 9 Switchback Group Mpac Group Sep 8 Rev io Primus Capital Funds Sep 8 Evint The Riverside Company Sep 1 Alliance Emissions Monitoring Align Capital Partners Sep 1 ARC Consulting CBIZ Sep 1 ARC Placement Group CBIZ Sep 1 Bodine Services of the Midwest EnviroServe Univar Solutions Sep 1 Controlled Polymers Americhem Blue Equity Krispa Sep 1 vivaMOS Nordson Sep 1 Weavertown Environmental Group EnviroServe Univar Solutions For more information about the Association for Corporate Growth visit www acg org cleveland Matt Roberts is a vice president with and runs the Cleveland office for Copper Run Capital LLC Copper Run Capital is a middle market investment banking advisory firm For more information on Copper Run please visit www copperruncap com or email mroberts@ copperruncap com DEALMAKERS Insider through its various funds Euclid Medical Products located outside of Wooster which designs and manufactures highly engineered automated single and multidose pharmaceutical packing systems was acquired by Grand Rapids based Auxo Investment Group Finally Beachwoodbased Primus Capital invested growth equity into Atlanta based Rev io a billing back office and payments SaaS platform