Mergers Acquisitions

COLUMBUS – October 31, 2026 -- Vertiv Holdings Co. (NYSE: VRT) has completed its acquisition of Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group (UIG), for about $1.45 billion in upfront cash. The deal also carries up to $1.15 billion in contingent cash consideration, tied to EBITDA targets over 12- and 24-month periods.

Upfront price equals 13x expected 2027 EBITDA

The upfront price represents approximately 13x expected UIG 2027 EBITDA. Vertiv expects the multiple to fall significantly if the full earnout is paid. The company expects the acquisition to be accretive to adjusted earnings per share in the first year after completion.

COLUMBUS, Ohio – October 31, 2026 -- Vertiv Holdings Co. (NYSE: VRT) has completed its acquisition of King Environmental Services Ltd. (KES), extending its thermal and fluid management services into Europe, the Middle East and Africa (EMEA). Financial terms were not disclosed, and Vertiv does not expect the deal to be material to its financial results.

KES adds fluid management and load testing for liquid-cooled data centers

KES is a Europe-based provider of fluid management, commissioning and load-testing services for high-density, liquid-cooled data centers. Founded in 2002, it is headquartered near Dublin, Ireland, and serves EMEA customers from hubs in North Dublin and Frankfurt.

Its service scope covers design review and feasibility studies, pipework flushing, filtration and water treatment, testing, adjusting and balancing (TAB), data logging and thermography, and large-scale thermal and electrical load testing.

KANSAS CITY – October 30, 2026 -- nbkc bank has filed an application with the FDIC to assume the consumer-focused Banking as a Service (BaaS) portfolio of LSBX, the BaaS division of Lincoln Savings Bank, expanding both its BaaS business and its deposit base.

The deal is expected to close in early 2027, subject to regulatory approval. Financial terms were not disclosed.

Deal follows Lincoln Bancorp's merger agreement with Equity Bancshares

The filing comes after a September announcement that Lincoln Savings Bank's parent, Lincoln Bancorp of Reinbeck, Iowa, will merge with and into Equity Bancshares, Inc., based in Wichita, Kan.

nbkc plans to fold the LSBX offering into its own BaaS business and take it to market under the nbkc brand, according to President and CEO Michael Bartkoski. He called the transaction a "natural fit" and said it would strengthen the bank's deposit base.

SAN ANTONIO – October 30, 2026 -- Venezuelan food and beverage group Empresas Polar has acquired Ricos Products Co., a San Antonio supplier of nacho cheese sauce, chips and popcorn that sells in more than 80 countries. Financial terms were not disclosed.

The deal closed through Polar's subsidiary Alimentos Polar International, Inc. Ricos' operations and management team stay in place, and the company remains headquartered in San Antonio.

Ricos brings a 1909-founded, fifth-generation brand to Polar's U.S. portfolio

Ricos is the originator of concession nachos. Its products are sold through branded retail, theaters, stadiums and other food channels. CEO Tony Liberto said Polar's long-term commitment will let Ricos accelerate growth and innovation and expand its reach.

ATLANTA – October 29, 2026 -- NIIT Learning Systems Limited (NSE, BSE: NIITMTS) has acquired 100% of Bluewater Learning, LLC for an aggregate consideration of up to USD 17.6 million, including performance-based earnouts spread over the next five years.

The deal closed through NIIT Learning's wholly owned subsidiary, NIIT (USA), Inc. It is subject to customary adjustments under the definitive agreements.

Bluewater brings 1,100 clients and 5,000 projects to the deal

Bluewater was founded in 2003 and is based in Plano, Texas. It combines strategic advisory, technology solutions and ongoing operations to help clients plan, implement and support learning and talent transformation. The company has served more than 1,100 clients and completed more than 5,000 learning and talent projects.

BALDWIN PARK – October 29, 2026 -- Wheelhouse, the Trivest Partners-backed garage door services platform, has acquired All Star Garage Door, a family-owned residential and commercial operator in California and Utah. The deal is Wheelhouse's second acquisition of 2026.

All Star brings 30-plus employees and a 2024 Utah expansion

Founded in 2008, All Star Garage Door installs, services and repairs garage doors and employs more than 30 people. It serves Southern California, the Central Valley and the Central Coast.

The company entered Utah in 2024, adding the St. George and Park City communities to its footprint.

Wheelhouse CEO cites cultural fit with owner Ryan Salinas' team

Wheelhouse CEO Ron Avidan said All Star's "craftsmanship and customer care" align with the platform's values. Owner Ryan Salinas described the transaction as the start of a new chapter that creates opportunities for continued growth.

Raleigh – October 29, 2026 -- CAPTRUST Financial Advisors has added Pacific Sage Partners (PSP), an Edmonds, Washington-based wealth management firm that advises on approximately $1.1 billion in client assets.

Eight-person PSP team under founder Mark Anderson moves into CAPTRUST

PSP is led by founder and CEO Mark Anderson and has eight team members. The firm has built its business around a holistic approach to wealth management. As with previous CAPTRUST transactions, PSP will adopt the CAPTRUST brand.

Anderson said the combination relieves his team of operational burdens so they can focus more on client financial decisions.

PALM BEACH GARDENS – October 29, 2026 -- Palmdale Propane, a subsidiary of Florida fuel distributor Palmdale Oil, has acquired Affordable Gas, a locally owned propane provider based in Belle Glade, Florida. Financial terms of the transaction were not disclosed.

Affordable Gas delivers propane, supplies cylinder exchange and offers related services to residential, commercial and agricultural customers in Belle Glade and the surrounding Glades area.

Palmdale extends its commercial and residential propane footprint in South Florida

Palmdale CEO Lachlan Cheatham called the deal "a natural next step" that expands the company's commercial and residential propane presence in South Florida. He said Affordable Gas President Rolando Calvo and his team built the business on dependable service and close customer relationships across the Glades.

DENVER – October 29, 2026 -- Western Microsurgical, LLC (WMS), a portfolio company of HealthEdge Investment Partners, has acquired Q Surgical and Proficient Surgical, extending its surgical microscope sales and service coverage to 18 states in the western and northeastern United States. Financial terms were not disclosed.

Two regional operators add Northern California, Nevada and Northeast coverage

Q Surgical, founded in 2009, serves hospitals and ambulatory surgery centers (ASCs) in Northern California and Nevada. Proficient Surgical, founded in 1996, serves the Northeast. Both bring expertise in surgical microscopy and complementary operating room products, plus existing relationships with surgical teams and manufacturers.

Chicago – October 29, 2026 -- EVERSANA has acquired London-based health economics and outcomes research (HEOR) technology company Estima Scientific, adding generative-AI tools for economic modeling, systematic literature reviews and network meta-analysis to its market access offering. Financial terms were not disclosed.

Estima's web-based generative-AI applications integrate proprietary code. Its consulting expertise and software will be folded into EVERSANA's market access and value & evidence solutions. The aim is to help pharmaceutical companies show a drug's clinical and economic value to payers more efficiently and transparently.