MERGE, a premium storytelling and technology company, today announced that Stephanie Trunzo, SVP and GM of Oracle Industries has joined its board of directors, as the organization’s first independent director.

Stephanie’s deep expertise in scaling organizations at the intersection of technology and marketing will help strengthen MERGE’s cutting-edge approach to delivering personalized and unified, data-driven experiences that help brands win in the marketplace. Stephanie has more than 20 years of people and technology leadership experience and is a digital storyteller who has successfully grown multiple portfolios from the startup stage to more than $100M in revenue. She has pioneered incubators for AI and emerging technologies as well as established co-creation studios that blend diverse expertise from around the globe.

“Organizations must think beyond the confines of their specific industry to meet quickly shifting consumer expectations,” said Stephanie. “The cutting edge innovation pioneered in one industry becomes the new standard for every other industry, and MERGE’s breadth of expertise in marketing, technology, creative, and media provide the perfect foundation to deliver engaging and unexpected experiences across the rapidly changing consumer, health, and financial services industries. MERGE’s expertise in consumer brands combined with regulated industry rigor makes me excited to join the organization’s board of directors as MERGE scales to the next level.”

Stephanie works across all of Oracle Industries, where she marries her knowledge of cloud, AI, and emerging technologies with her passion for storytelling. Stephanie was instrumental in supporting Oracle’s acquisition of Cerner and formalizing the Oracle Health global business. Stephanie currently drives the Go-To-Market strategy for Oracle’s global industry portfolio, including Financial Services, Retail, Hospitality, Restaurants, Energy & Water, Communications, Engineering & Construction, and Public Safety.

”Companies are increasingly looking to engage partners that span both marketing and marketing technology services as they seek to solve holistic business problems and unify their customer experiences,” said Mark Goble, chief operating officer of MERGE. “With our depth of cross-functional and industry expertise, MERGE is well positioned to find new and exciting ways to grow and better serve our clients. Stephanie’s knowledge and experience will help us assist our clients to best capitalize on market opportunities and scale for success faster and more efficiently.”

Prior to joining Oracle, Stephanie held leadership roles at IBM and the digital transformation company PointSource, which she led through a public acquisition by Globant. She is a graduate of Carnegie Mellon University, where she also served as visiting professor.

Learn more about our approach to merging storytelling with technology at mergeworld.com.

About MERGE

MERGE promotes health, wealth and happiness in the world by merging storytelling with technology and offers marketing and technology clients full-service capabilities including strategy, creative communications, experience technology, performance marketing, media, public relations and digital platform development. MERGE has enduring client partnerships with American Express, T-Mobile, LG, Kate Spade NY, Coach, The North Face, Meta, Adobe, BlueCross BlueShield, Abbott, Supernus, CSL, GE Healthcare, Broward Health, Indiana University Health, Nationwide and Fidelity.

With 800+ employees across offices in Atlanta, Boston, Chicago, Denver, Kansas City, Montreal, New York City and Los Angeles, MERGE uses a talent-to-task process that enables clients to think higher and feel deeper about their customers. For more information, visit mergeworld.com.

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Brian Prendergast
(312) 219-7968
bprendergast@keystonecapital.com

[MINNEAPOLIS, MN] – Citizen Inside, a new company poised to transform the in-house agency model, announced its launch today. Backed by private equity firm Keystone Capital, the company is focused on modernizing in-house agencies and teams. With its technology-first, creatively-driven mindset, Citizen Inside crafts and leads teams and workflow systems that maximize brand opportunities. Based in Minneapolis, Citizen Inside is led by industry veterans Jeffrey Gorder as Co-Founder, CEO and EJ McNulty as Co-Founder, Chief Creative Officer.

“The proliferation of marketing technologies, coupled with the need to generate a continuous stream of creatively-driven digital content, has resulted in the need for marketers to evolve their current models, whether that means relooking at their in-house agency or building an entirely new in-house model,” said Gorder. “We believe that marketing leaders who embrace new technologies and make strategic decisions to retain their scalable content and embed media IP within their organizations will have a measurable competitive advantage. Citizen Inside is a partner that can create and maximize these opportunities, while delivering an efficient and modern approach.”

While in-house agencies are rapidly on the rise (the ANA reported that 82% of their members have in-house agencies in 2023), the majority utilize operational models and capabilities built 10 - 15 years ago that desperately need modernization. The Citizen Inside team begins its process by understanding a brand’s current ecosystem and then designs a custom model with makers and media embedded at the core. The firm then creates and operates the in-house agency. By focusing on combining best-in-class creative and media capabilities, Citizen Inside’s technology-enabled methodology allows for channel and placement-specific creative, increasing efficiency and effectiveness, ultimately leading to outsized results.

Citizen Inside launches as a member of the Dawn network, a portfolio of leading independent, specialist marketing services agencies with centralized data science, advanced analytics, and economic measurement services. The firm taps into the vast, fully integrated resources of the network, including its robust technology and global creative production capabilities. Most significantly, Citizen Inside harnesses the $4.5B global spend of the network’s media planning and buying firepower via The Citizen Inside Media Alliance, giving its clients immediate media access and capabilities at a global scale.

Prior to co-founding Citizen Inside with McNulty, Gorder was OLIVER’s Chief Growth Officer in North America. There, he helped launch their in-house consulting practice for the North American market and led in-depth organization development, technology, and workflow consulting initiatives for numerous Fortune 500 companies, and built multifaceted in-house agencies for brands, including General Mills, CompTIA, Tractor Supply Co., Goldman Sachs, and Central Garden & Pet. Earlier in his career, he spent over 12 years at advertising and branding agency MONO, where he held various leadership posts, including Chief Growth Officer and Managing Director of the agency's San Francisco office, supporting brand clients including Target, Google, Walmart, Apple, MolsonCoors, Riot Games, and PepsiCo.

McNulty previously spent 12 years at Wunderman Thompson, most recently as Executive Creative Director, North America, spearheading creative efforts for a variety of top brands, including Best Buy, Sherwin Williams, Chevron-Texaco, and Kyndryl. McNulty led and developed Wunderman Thompson Inside’s in-house agency team for Best Buy. The 140+ department of creatives and strategists was built specifically to execute digital content campaigns across multiple platforms, create multiple branded partnerships, and market vast product lineups. McNulty’s groundbreaking AI-powered tool for coatings manufacturer Sherwin-Williams, “Speaking in Color,” was the first ever Creative B2B Grand Prix awarded at The Cannes Lions Festival of Creativity.

“We are excited about the vision that Jeffrey and EJ bring to Citizen Inside. Their wealth of experience, expertise, creativity and drive are a winning combination and exactly what we look for in our partners, ” said Bill Sommerschield, Managing Director, Keystone Capital.

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Brian Prendergast
(312) 219-7968
bprendergast@keystonecapital.com

Patrick Helle
(312) 219-7963
phelle@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce that its portfolio company Barkley Holdings, LLC (“BarkleyOKRP”) has completed the acquisition of the Adlucent business (“Adlucent”) from Advantage Solutions Inc. (NASDAQ: ADV). BarkleyOKRP is a full-service, independent marketing agency that was formed in March 2024 when Keystone facilitated a merger between independent agencies Barkley and OKRP.

Based in Austin, Texas, Adlucent is a digital marketing agency with over 180 employees specializing in performance marketing services across search, social, display, and retail media network digital channels and working with brands such as Zappos, The Vitamin Shoppe, 1-800-Contacts, Rawlings, and Global Industrial, among others. Adlucent leverages proprietary technology to manage and optimize multi-channel campaigns, delivering effective results for clients. Adlucent is a Google Premier Partner, Google Cloud Partner, Microsoft Advertising Elite Partner, and Meta Business Partner, and is Google’s largest U.S. Shopping Ads agency. The acquisition represents a strategic addition of performance marketing services that strengthens BarkleyOKRP’s digital marketing capabilities offered to clients. For more information on Adlucent, please visit Adlucent.com.

BarkleyOKRP will now have offices in Kansas City, Chicago, Denver, New York City, Pittsburgh, and Austin, with more than 800 employees dedicated to creating bold work that resonates with the modern consumer. The firm serves brands such as Burger King, Metro by T-Mobile, Planet Fitness, Motel 6, Corona Premier, AMC Theatres, Winnebago and more. Adlucent represents the second acquisition into the platform since Keystone established the partnership in September 2023. For more information, please visit BarkleyOKRP.com.

Keystone and BarkleyOKRP continue to actively seek acquisition opportunities in marketing and technology services with a focus on U.S.-based businesses. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.

Terms of the transaction are not being disclosed. Global Investment Bank, Canaccord Genuity, advised Advantage Solutions and Adlucent on this transaction. Debt financing was provided by TPG Twin Brook Capital Partners, and legal counsel was provided to Keystone by DLA Piper LLP.

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Brian Prendergast
(312) 219-7968
bprendergast@keystonecapital.com

Patrick Helle
(312) 219-7963
phelle@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce the addition of Matt DeLong to the investment team as a Principal.

Mr. DeLong brings over fifteen years of lower middle market private equity investing experience in a broad range of industries including testing/inspection/certification/compliance (TICC), flow control, industrial and business services, and specialty chemical distribution and manufacturing. Mr. DeLong will be responsible for investment strategy development, recruitment of operating partners, deal sourcing, transaction structuring, deal execution, and post-close growth initiatives.

“Keystone continues to grow rapidly, and with the completed raise of our most recent fund, we are excited to add talented members to our team such as Matt,” commented Scott Gwilliam, Managing Partner of Keystone. “Matt will be a terrific cultural fit at Keystone and his experience aligns extremely well with our investment strategy.”

Prior to joining Keystone, Mr. DeLong spent over fifteen years with JZ Partners/Jordan Industries, a lower middle market private equity firm. Prior to his tenure with JZ Partners/Jordan Industries, Mr. DeLong worked in the investment banking division of Bank of America. Mr. DeLong received a B.S. in Finance and Accounting from Miami University.

“I am very excited to be joining the team at Keystone,” commented Mr. DeLong. “I look forward to continuing Keystone’s success in building leading lower middle market businesses for many years to come. Having known the Keystone team for a number of years, I knew that Keystone would be great fit for me culturally and that their dedication to ‘buy-and-build’ investing aligned perfectly with my background.”

Mr. DeLong can be reached at 312-219-7997 or at mdelong@keystonecapital.com.

Contact Information

Alicia Galloway
agalloway@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce an investment partnership with Baily International (“Baily” or the “Company”), a producer of authentic, high-quality Asian appetizer products.

Baily is a long-standing and nationally recognized brand in the Asian appetizer market and has served its customers for more than 40 years. Headquartered in Granite City, IL, the Company employs more than 300 people and operates out of a collective approximately 200K square feet of production space across two facilities in the Saint Louis area and another in Georgia. Baily’s core offering is made up of staple Asian food products including egg rolls, wonton wrappers, noodles, and fortune cookies, which are supplied to a diverse base of loyal foodservice distributors throughout the United States. For more information on Baily, please visit www.bailyfoods.com.

“Partnering with Keystone brings tremendous opportunity for Baily,” noted Steve Cameron, CEO of Baily. “Keystone’s extensive experience in food manufacturing and approach to building businesses the right way gives me great confidence that together we can create the best version of Baily and serve our customers even better than before.”

Steve purchased Baily from its original founder in 2016 and has grown the business as CEO since. He will continue to operate the company as CEO with Keystone as a supportive partner for growth.

“We are absolutely thrilled to partner with the team at Baily,” commented Chaoran Jin, Managing Director at Keystone Capital. “This business has so much opportunity to expand upon the legacy built over several decades, and we’re honored to have the opportunity to play a part in that.”

Baily will be actively seeking acquisition opportunities in the ethnic food manufacturing space. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.

Terms of the transaction are not being disclosed. Senior debt financing was provided by CIBC Bank USA and Siemens Financial Services, Inc., and legal counsel was provided to Keystone by DLA Piper LLP.

Contact Information

Chaoran Jin
(312) 219-7976
cjin@keystonecapital.com

Erik Gernant
(312) 468-6266
egernant@keystonecapital.com

Matt Blanks
(312) 219-7987
mblanks@keystonecapital.com

Maggie Horak
(312) 219-7961
mhorak@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce it has completed an investment partnership with Identiti Resources, LLC (“Identiti” or “the Company”), a market leader in signage program management, maintenance, and related facility services.

Founded in 1991, Identiti has been owned and operated by the Sicher family for over 30 years.  Identiti’s value proposition to its blue-chip client base includes full-service management of exterior and interior signage programs as well as service and maintenance requirements executed on a national basis. The Company is headquartered in Schaumburg, IL and employs over 110 associates. For more information on Identiti, visit www.identiti.net.

Keystone is pleased to partner with second-generation owners Michael and Zachary Sicher, who are retaining a significant interest in the Company and will continue to lead Identiti going forward.

“We believe we have found an ideal partner in Keystone,” remarked Michael Sicher, CEO. “Their successful track record in buy-and-build strategies in the facilities services industry as well as their unique approach to partnering with companies like Identiti attracted us to Keystone from the very beginning.”

Zachary Sicher, Chief Administrative Officer, added: “This partnership will allow Identiti to capitalize on the immense opportunity for growth and consolidation that exists in our industry, which is something we desire to lead. We are looking forward to executing on that opportunity in partnership with Keystone.”

Identiti represents a continuation of Keystone’s platform investment expertise in the facility and ‘built environment’ services industries. “We’re very impressed with what the Sicher family has accomplished and Identiti aligns well with Keystone’s experience,” commented Jason Van Zant, Managing Director of Keystone Capital. “We are proud to be partnering with Michael and Zack and look forward to further building on Identiti’s successful legacy.”

Identiti will be actively seeking acquisition opportunities in the signage industry as well as in general facility maintenance services. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.

Terms of the transaction are not being disclosed. CIBC Capital Markets provided advisory services to Identiti. Senior debt financing was provided by CIBC Bank USA and legal counsel was provided to Keystone by DLA Piper LLP.

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Sean Lyons
(312) 219-7967
slyons@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce that its portfolio company Pinchin Ltd. (“Pinchin”) has recently completed the acquisition of Ransom Consulting, LLC (“Ransom”), a multi-disciplinary environmental consulting and engineering firm operating out of six offices across the Northeastern U.S. Founded in 1988, Ransom provides a diverse array of site remediation and related engineering services to commercial, government, and industrial clients.

Pinchin is an Ontario-headquartered environmental compliance consulting firm that offers a broad array of site assessment-related services focused on the building and land development lifecycle. Pinchin’s partnership with Ransom expands its U.S. presence to 18 offices and 160+ employees in addition to 42 locations and 870+ employees in Canada.

"The Ransom acquisition lays the foundation for Pinchin's expansion into the northeast US market," noted Jeff Grossi, CEO of Pinchin. "Ransom fits ideally onto the Pinchin platform, extending Pinchin's presence and supporting our goal to become the predominant North American services provider in the Buildings and Land market for all phases of the real estate lifecycle."

"Integrating with Pinchin provides Ransom an opportunity to deliver additional capabilities and services, providing even greater value to our existing clients, while expanding our footprint," stated Stephen Ransom, CEO of Ransom. "We are proud of our legacy and look forward to exciting new opportunities as a Pinchin company."

“We are thrilled to have the Ransom Consulting team join our Pinchin platform; this acquisition is an important furtherance of our geographic expansion strategy,” commented David Greer, Managing Director of Keystone Capital.

Keystone and Pinchin continue to actively seek acquisition opportunities in the environmental consulting and engineering services industry with a focus on U.S.-based businesses. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.

Terms of the transactions are not being disclosed. Legal counsel was provided by DLA Piper LLP (US).

Contact Information

David Greer
(312) 219-7972
dgreer@keystonecapital.com

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Matt Blanks
(312) 219-7987
mblanks@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce that Todd Lanscioni has joined the firm as a Managing Director.

Mr. Lanscioni has nearly 25 years of lower middle market private equity investing experience in a broad range of industries including testing/inspection/certification (TIC), flow control,  industrial  and business services, and healthcare. Mr. Lanscioni has demonstrated an impressive track record across all aspects of the lower middle market private equity profession, including investment strategy development, recruitment of operating partners, deal sourcing, transaction structuring, deal execution and post-close growth initiatives.

“We are thrilled with the addition of Todd to the Keystone team,” noted Scott Gwilliam, Managing Partner of Keystone. “Todd brings a wealth of knowledge and experience to the Keystone team and his investment philosophy is remarkably consistent with that which we have carefully and strategically cultivated at Keystone for the past 30 years. Lastly, there is an unquestionably strong cultural alignment between Todd and the Keystone team.”

Prior to joining Keystone, Mr. Lanscioni spent over 20 years with JZ Partners/Jordan Industries, a lower middle market private equity investment firm, as a Managing Director. Prior to his tenure with JZ Partners/Jordan Industries, Mr. Lanscioni worked for LaSalle Bank in Chicago. Mr. Lanscioni received an MBA in Finance from the University of Chicago’s Graduate School of Business and a BS in Finance from Indiana University.

“After a nearly 25-year successful run with JZ Partners/Jordan Industries, I am very excited to begin this next chapter of my career with Keystone Capital,” remarked Mr. Lanscioni. “The Keystone team brings a unique perspective to middle market investing, and I am confident we will build many outstanding businesses in the years ahead.”

Mr. Lanscioni can be reached at 312-219-7983 or at tlanscioni@keystonecapital.com.

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce that it has once again been named to Inc.’s 2022 List of Founder-Friendly Investors, a recognition of Keystone’s continued commitment to partnering with and empowering entrepreneurs in the middle market. Keystone’s philosophy and investment approach are rooted in entrepreneurship and personal ownership, with nearly all of the partners having operational experience and Keystone’s principals collectively representing the single largest investor in its Fund.

“We are honored to again be recognized as a Founder-Friendly Investor,” commented Scott Gwilliam, Managing Partner. “We believe that our entrepreneurs possess knowledge that is difficult – if not impossible – to replicate. Throughout our decades-long track record, we have remained committed to backing their vision and aligning our interests fully with our management partners.”

Introduced in 2019, the Founder-Friendly Private Equity Firms list quickly established itself as one of Inc.’s most resourceful franchises. It has become a go-to guide for entrepreneurs who want to grow their companies while retaining an ownership stake.

Keystone Capital (“Keystone”) is pleased to announce that its portfolio company Environments for Health Architecture, LLC (“E4H”) has been acquired by the MOREgroup, a partnership of architecture, design, and engineering firms. Terms of the transaction have not been disclosed.

E4H is the largest architectural design and facilities planning firm focused on the healthcare and life sciences markets. E4H has completed over 2,000 projects nationally including community hospitals, for-profit hospitals, ambulatory surgery centers, rehabilitation facilities, medical office buildings, skilled nursing facilities, senior living communities, and research laboratories.

Keystone initially partnered with E4H in 2015 and through organic initiatives and strategic acquisitions expanded into a national firm. E4H represents another example of Keystone’s commitment in investing in the Business and Professional Services sector serving the built environment.

“We are extremely appreciative of our partnership with the E4H management team in building a market leading business” noted David Greer, Managing Director of Keystone. “During our partnership with E4H, we expanded our capabilities and technical expertise to bring state-of-the-art facilities designed to enhance the well-being of our client’s patients, staff, and families. We wish the best to the E4H team on their new chapter with the MOREgroup.”

Dan Morris, Chairman of E4H commented, “Keystone Capital has been a great partner for E4H over the last seven years. With Keystone’s help, we have integrated four add-on acquisitions, which has broadened our core market and accelerated our growth. We worked in partnership with their team to execute on strategic and operational initiatives while driving value for employees, clients, and shareholders.”

Legal services were provided to E4H and Keystone by DLA Piper.

Contact Information

David Greer
(312) 219-7972
dgreer@keystonecapital.com

Sean Lyons
(312) 219-7967
slyons@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone) is pleased to announce that its portfolio company Integra Testing Services, LLC (“Integra”) has completed the acquisition of RSAnalysis and RSACx (collectively “RSA”). Integra, a specialized testing, adjusting, and balancing and mechanical systems analysis firm, was formed by Keystone in November 2021 with the initial acquisitions of Neudorfer Engineers and Fulton & Associates.

RSA is a comprehensive HVAC testing, adjusting, and balancing (TAB) services provider. RSACx is an independent building performance commissioning firm. Both companies are headquartered in the Sacramento, California area with branch offices located in San Francisco, Las Vegas, Reno and Salt Lake City.

The addition of RSA expands Integra’s presence nationally adding 60 employees and five locations to Integra’s existing 145 employees and 9 office locations across the United States. RSA represents the fifth acquisition into the Integra platform since its formation by Keystone.

“The transaction with RSA is a game-changer for Integra,” commented Jason Van Zant, Managing Director, Keystone. “RSA makes Integra the largest independent testing, adjusting and balancing firm in the United States with true coast-to-coast coverage. We are thrilled to welcome their team to Integra.”

Integra is interested in further acquisitions of companies providing highly specialized, critical building testing services. Parties with knowledge of such opportunities are encouraged to contact Jason Van Zant at Keystone.

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Matt Blanks
(312) 219-7987
mblanks@keystonecapital.com

Patrick Helle
(312) 219-7963
phelle@keystonecapital.com

Keystone Capital ("Keystone") is pleased to announce that its portfolio company Keystone Natural Holdings ("KNH") has been acquired by House Foods Holding USA, the North American subsidiary of House Foods Group Inc.

Keystone Capital established the KNH platform through the acquisition of Nature’s Soy® in 2016, a regional plant-based food manufacturer focused on the ethnic channel. Through three strategic add-on acquisitions and meaningful organic investment, KNH significantly expanded its product offering and channel reach. In 2019, KNH invested in a new manufacturing facility in Folcroft, Pennsylvania to capitalize on organic growth opportunities. The sale of KNH represents another successful outcome for Keystone Capital within its Food & Consumer investment efforts.

“We are proud of the work we have done at Keystone Natural Holdings,” said Chaoran Jin, Managing Director of Keystone Capital. “During our partnership, we invested significantly to expand KNH’s brand presence, manufacturing capacity, product development capabilities, as well as the leadership team in order to provide a broad range of healthy, innovative plant-based food products for grocery, club, and food service customers. We are extremely appreciative of the hard work, dedication, and commitment from the KNH management team in building a market leading business. We wish them the best for their new chapter with House Foods.”

Kenny Sung, Chief Executive Officer of KNH, who will continue to lead KNH, added, “Keystone Capital has been a great partner to work with, helping us successfully expand into additional strategic segments, which has positioned us to better serve our retail and food service customers in the ethnic and mainstream channel. With Keystone Capital’s help, we have integrated three add-on acquisitions, which has broadened our core market and accelerated our growth. We look forward to working with House Foods to continue our growth trajectory.”

Through this acquisition, House Foods will expand its portfolio of value-added tofu and plant-based food products and accelerate its US market expansion plans. The combined company will have eight manufacturing facilities across North America.

Investment banking services were provided to KNH by Whipstitch Capital and legal services were provided to KNH and Keystone by DLA Piper.

Contact Information

Chaoran Jin
(312) 219-7976
cjin@keystonecapital.com

Brian Chung
(312) 219-7975
bchung@keystonecapital.com

Michael Weston
(312) 219-7982
mweston@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce an investment partnership with Novatio Solutions (“Novatio” or “the Company”). Novatio is a fast-growing hyperautomation consultancy with deep expertise in automation strategy, software implementation, and ongoing support of automation programs.  Novatio primarily works in partnership with UiPath and Automation Anywhere, the leading robotic process automation (“RPA”) and intelligent automation software platforms.

Founded in 2015, Novatio has quickly grown into an automation consulting leader, providing its roster of enterprise, healthcare, and SLED (state, local, and education) clients with full-lifecycle automation solutions consisting of process discovery & mining, software implementation & customization, bot development, and ongoing managed support & execution services. Novatio’s differentiated delivery and talent development model is supported by a best-in-class automation technology training program. The Company’s rapidly expanding team includes more than 100 resources across the U.S. and India. For more information on Novatio, visit www.novatiosolutions.com.

“We are delighted to partner with a patient and experienced investor in Keystone Capital to help build on the success Novatio has enjoyed to date,” remarked Gokul Solai, CEO of Novatio. “Intelligent automation is still in its infancy and this partnership is an important step to ensure we will continue to be at the forefront of the industry. We look forward to continuing to develop new and exciting solutions to expand the impact that process consulting and automation can have within our client partners’ organizations.”

Novatio represents a furtherance of Keystone’s investment success in the tech-enabled services sector. “Novatio is exceptionally well-positioned to capitalize on the significant opportunity in the intelligent automation industry,” commented Bill Sommerschield, Managing Director at Keystone Capital. “We are thrilled to partner with Gokul and his team to collaboratively build a preeminent service provider in this dynamic and fast-growing marketplace.”

Terms of the transaction are not being disclosed. Senior debt financing was provided by CIBC Bank USA and legal counsel was provided by DLA Piper. Novatio was advised by Equiteq in connection with this transaction.

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Michael Weston
(312) 219-7982
mweston@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce it has launched Tribute Baking Company (“Tribute” or the “Company”), a market leading producer of authentic New York style kettle-boiled, hearth-baked bagels and specialty cake products sold into the in-store bakery, club store, foodservice, and convenience store channels. Tribute was formed through the combination of three family-owned wholesale bakeries: Always Bagels (“Always”), Original Bagel (“Original”), and Hometown Foods (“Hometown”).

For the last 25+ years, Always, Original, and Hometown have led the wholesale bagel market in quality. Together, Tribute employs more than 300 people and operates out of a collective 190K square feet across four SQF Level II facilities in New York, New Jersey, Pennsylvania, and Miami. The Company sells its product in a par-baked and fully baked frozen format to some of the most notable retailers and foodservice distributors on the East Coast, nationally, and internationally. The combined footprint of Tribute provides the advantage to its customers of four dedicated facilities, creating a resilient supply chain in the bagel category.

Anthony Pariti, Co-Founder of Always, noted, “We are thrilled to begin our partnership with Keystone. We see tremendous opportunity to build on the strong foundation developed over the last several decades. Keystone’s differentiated approach of patiently investing alongside management with a focus on long-term value creation is a great fit for our employees and our customers.”

“Partnering with Keystone and Always opens exciting opportunities for our collective businesses,” added Dave Harris and Bruce Levenbrook, President and CEO of Original, respectively. “Our combined decades of experience and legacy of quality are unparalleled in today’s marketplace. Additionally, Keystone’s deep understanding of the wholesale bakery business will provide us with an experienced strategic partner as we work together to achieve our goals for organic growth and complementary acquisitions.”

The formation of Tribute also represents a continuation of Keystone’s partnership with Hometown Foods, a multigenerational wholesale bakery based out of Miami. Hometown’s scaled manufacturing footprint brings substantial additional bagel manufacturing capacity and a portfolio of specialty cake products to the broader platform.

Keystone’s bakery experience stretches back to the early 2000s through Keystone Bakeries Holdings (“KBH”), starting with a partnership with Freed’s Bakery, a market leader in fully finished cupcakes sold to the in-store bakery channel. Over the next decade, Keystone executed two transformative add-on acquisitions in the donut and cookie segment, driving significant growth prior to exiting the business to Weston Foods (TSX: WN) in 2010. Kevin McDonough, formerly the President of KBH, will lead Tribute going forward.

“Keystone is excited to partner with these terrific family businesses to continue building on their legacy of quality and authenticity,” commented Chaoran Jin, Managing Director at Keystone Capital. “We see the same amount of opportunity in the wholesale bakery space that we saw 20 years ago and are eager to execute on our organic growth initiatives and targeted acquisitions.”

Terms of the transaction are not being disclosed. Senior debt financing was provided by CIBC Bank USA and Capital One NA, and legal counsel was provided to Keystone by Honigman LLP. Original Bagel was advised by Billow Butler & Company in connection with this transaction.

Contact Information

Chaoran Jin
(312) 219-7976
cjin@keystonecapital.com

Brian Chung
(312) 219-7975
bchung@keystonecapital.com

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Michael Weston
(312) 219-7982
mweston@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce that its portfolio company VDA, Inc. (“VDA”), a market leader in providing technical consulting and inspection services to the elevator and vertical transportation industry, has acquired Sierra Consulting Group (“Sierra”).

Sierra represents the first add-on acquisition completed by VDA since initially partnering with Keystone. “Sierra adds significant capability to VDA’s mandated inspection and modernization consulting capabilities,” commented Jason Van Zant, Managing Director of Keystone. “We look forward to having Joe Caracappa and his leadership team join the exceptional leadership team at VDA.”

Completed in November 2021, VDA represents Keystone’s fifth platform investment in the building sciences consulting and engineering services industry. VDA is actively seeking add-on acquisition opportunities in the building sciences consulting and inspection industry. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.

About VDA

Operating over a history spanning 40+ years, VDA is headquartered in East Hanover, NJ and has grown to include 30+ offices across the country. VDA specializes in all types of vertical transportation services, including elevator/escalator/lift modernization, new construction, maintenance evaluations, mandated inspections, and general consulting for a variety of end markets. For more information on VDA, visit www.vdassoc.com.

About Sierra

Sierra Consulting Group is a full-service elevator and escalator consulting company, providing inspection witnessing, advisory and project management services to building owners and property management firms overseeing residential and commercial buildings throughout metropolitan New York. Founded in 2004 by industry veteran Joseph Caracappa, the Company provides technical expertise on various job types ranging from witnessing inspections as an impartial third party, to evaluating and managing comprehensive vertical transportation modernization projects.

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Sean Lyons
(312) 219-7967
slyons@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce it has partnered with two leading environmental consulting services providers, Pinchin Ltd. (“Pinchin”) and PM Environmental, LLC (“PM”).

Pinchin and PM have been collectively operating for 70+ years, providing environmental risk management, engineering, and health & safety consulting services to corporate real estate owners, developers, end users, and government agencies in the United States and Canada.

Headquartered in Mississauga, Ontario, Pinchin operates out of 34 offices nationally across Canada. PM, headquartered in Lansing, Michigan, is a regional market leader serving clients out of twelve offices in Michigan and the Southeastern U.S. For more information, visit www.pinchin.com and www.pmenv.com.

"This is an exciting first step in our goal of building the predominant North American services provider in the building and land market for all phases of the real estate lifecycle,” noted Jeff Grossi, CEO of Pinchin. “We are fortunate to have found likeminded partners in both PM and Keystone”.

Mike Kulka, Co-Founder and CEO of PM, added: “With this partnership, we see a significant opportunity to better serve our clients through greater geographic reach and a broader set of capabilities”.

All members of the Pinchin and PM executive teams will remain in leadership positions of the combined company. Joining forces will provide both Pinchin and PM’s clients with broader geographic coverage and enhanced capabilities across the real estate lifecycle.

“We are thrilled to be partnering with the teams at Pinchin and PM,” commented David Greer, Managing Director of Keystone Capital. “Keystone has significant experience in the engineering and technical services space, and we believe there is a considerable opportunity to continue building on the great legacies that both of these firms have established.”

Keystone will be actively seeking acquisition opportunities in the environmental consulting and engineering services industry. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.

Terms of the transactions are not being disclosed. Senior debt financing was arranged by CIBC Bank USA and legal counsel was provided by Honigman LLP and Goodmans LLP.

Contact Information

David Greer
(312) 219-7972
dgreer@keystonecapital.com

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Matt Blanks
(312) 219-7987
mblanks@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce the formation of Integra Testing Services (“Integra”), a market leader in the testing, adjusting, and balancing (“TAB”) of commercial HVAC systems as well as related testing and commissioning services for the built environment.

Integra was formed through initial partnerships with Fulton & Associates (Mentor, OH) and Neudorfer Engineers (Seattle, WA). Fulton, founded in 1996, is a leader in the Ohio market and is led by Dominic Mazzolini. Neudorfer, founded in 1970, is a leader in the Pacific Northwest market and is led by Bill Neudorfer. For more information on Integra, visit www.integratesting.com.

Dominic Mazzolini will lead the Integra platform as Chief Executive Officer. Additionally, Integra is pleased to announce that Travis Nichols has joined as Chief Financial Officer. Mr. Nichols was previously the Chief Financial Officer of Rocore Holdings, a former Keystone portfolio company exited in 2017.

Integra is also pleased to announce the subsequent acquisition of International Test & Balance (“ITB”), a market leader in TAB services in Chicago and Michigan. ITB is led by Chairman Gary Tarazi and CEO Christopher Yacu.

“I am tremendously excited about the coming together of Fulton and Neudorfer and for the potential of the Integra platform,” commented Mr. Mazzolini. “The Integra platform will allow other TAB & ‘built environment’ companies to join us in providing our services to an even larger customer base,” commented Mr. Neudorfer, President of Neudorfer Engineers.

The formation of Integra represents a continuation of Keystone’s established expertise in the built environment testing and field services market. “Integra is well-aligned with Keystone’s historical and current investment experience in the commercial services industry, and we are thrilled by the opportunity to partner with this management team,” commented Jason Van Zant, Managing Director of Keystone Capital.

Integra is actively seeking acquisition opportunities in built environment testing and inspection services as add-on acquisitions. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.

Terms of the transaction are not being disclosed. Senior debt financing was provided by CIBC Bank USA and legal counsel was provided by Honigman, LLP.

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Matt Blanks
(312) 219-7987
mblanks@keystonecapital.com

Keystone Capital (“Keystone”) is pleased to announce that its portfolio company Movilitas (“Movilitas”) has been acquired by Engineering USA, the North American subsidiary of the Engineering Group. Terms of the transaction have not been disclosed.

Movilitas is an industry leader in digital supply chain and digital manufacturing consulting services and solutions.  Keystone initially invested in Movilitas in 2013.  Throughout the ownership period, Keystone and Movilitas partnered to significantly grow the business both organically and through strategic acquisitions in the U.S. and Europe. Movilitas represents another example of Keystone’s commitment in investing in the Business and Professional Services sector.

“We are extremely appreciative for the hard work, dedication and commitment from the Movilitas management team in building a market leading business and delivering a great outcome for shareholders” commented Scott Gwilliam, Managing Partner of Keystone. “We wish the Movilitas management team the best for their new chapter.”

“During our hold period, we worked with Movilitas to expand and enhance the management team, including bringing in CEO Ross Young, who Keystone had previously partnered with at Peak-Ryzex.  We are proud of the work we accomplished along with the Movilitas management team to accelerate organic growth and execute strategic acquisitions to expand market share, geographic reach and service offerings to our enterprise clients,” said Chaoran Jin, Managing Director of Keystone.

Ross Young, Chief Executive Officer of Movilitas added, “The team at Keystone has been a great business partner for Movilitas. They found the perfect balance of providing guidance paired with autonomy that enabled our management team to successfully drive the agreed upon strategic and financial initiatives. With Keystone’s counsel, we also found the right strategic partner in Engineering Group as part of the Industries eXcellence Global division for the next chapter of our growth.”

Investment banking services were provided to Movilitas and Keystone by Stifel, Nicolaus & Company, Inc., and legal services were provided to Movilitas and Keystone by Honigman LLP.

About Movilitas

Movilitas is a global consulting services and solutions company helping enterprises transform their business to meet the demands of today's dynamic economy. Movilitas is recognized as a long-standing trusted SAP partner and strategic advisor for digital supply chain transformation. The company’s industry expertise and accelerators for SAP solutions and applications, such as Movilitas.Cloud, help businesses to future-proof operations, maintain compliance and realize new growth opportunities.

Contact Information

Scott Gwilliam
(312) 219-7971
sgwilliam@keystonecapital.com

Chaoran Jin
(312) 219-7976
cjin@keystonecapital.com

Keystone Capital Management, L.P. (“Keystone”) is pleased to announce that its portfolio company, ClearWater Solutions, LLC (“CWS”), has acquired Midwest Water Operations, LLC (“MWO”), a Missouri-based provider of outsourced operations & maintenance services for water and wastewater facilities. The combined business serves municipalities and private utilities in 12 states with approximately 400 employees across the greater Southeastern United States.

“This partnership is an incredible opportunity for our organizations to enhance our combined service offerings and draw on a larger footprint to better serve these communities which we are so passionate about,” Steve Cawood, CEO of CWS commented. “We believe this merger will accelerate our organic expansion and provide additional career development and growth opportunities for our people,” remarked Rick Ailiff, President of CWS.

“We are thrilled to be joining forces with the people at CWS. It has been a pleasure getting to know one another throughout this process, and we see many similarities in how these two organizations operate,” noted Ben Kuenzel, President of MWO. “MWO has historically been focused on O&M for private water and wastewater utilities. With CWS, not only can we serve private utilities across a broader geographic footprint, but we also see tremendous opportunity to serve municipal clients in our key states,” added Terry Merritt, Vice President of MWO.

“We are incredibly excited about the joint vision CWS and MWO share – to become a leading operations & maintenance company that serves as a true extension of the communities in which we live” said Erik Gernant, Vice President of Keystone. “This combination helps ensure both organizations have the resources and scale to achieve their vision, ambitiously grow, provide opportunities for their employees, and better serve their communities in new and exciting ways.”

Terms of the transaction are not being disclosed. Legal counsel was provided to CWS and Keystone by Honigman LLP.

Contact Information

Scott Gwilliam
(312) 219-7971
sgwilliam@keystonecapital.com

Erik Gernant
(312) 219-7969
egernant@keystonecapital.com

Sean Lyons
(312) 219-7967
slyons@keystonecapital.com

VDA’s client base includes leading real estate owners, developers and end users across the United States. Operating over a history spanning 40+ years, VDA is headquartered in East Hanover, NJ and has grown to include 30+ offices across the country. VDA specializes in all types of vertical transportation services, including elevator/escalator/lift modernization, new construction, maintenance evaluations, mandated inspections, and general consulting for a variety of end markets. For more information on VDA, visit www.vdassoc.com.

“Our partnership with Keystone could not have been completed at a better time,” remarked Mike Smith, CEO of VDA. “We believe there is great opportunity for further growth and consolidation in our market, and that with Keystone, VDA is well positioned to play a leadership role in this consolidation.”

Rob Cuzzi, President of VDA, added: “We envision expanding VDA’s capabilities beyond our core services into complimentary consulting services valued by our clients. With the long-term and patient model that Keystone espouses, we will be even better positioned to capitalize on these opportunities.”

VDA represents Keystone’s fifth platform investment in the building sciences consulting and engineering services industry. “VDA is an ideal fit with Keystone’s experience in the building sciences and inspection industries,” commented Jason Van Zant, Managing Director of Keystone Capital. “We are proud to be associated with VDA, a long-standing leader in the vertical transportation consulting market, and look forward to further our shared goal of building on VDA’s successful legacy.”

VDA will be actively seeking acquisition opportunities in the building sciences consulting and inspection industry as add-on acquisitions. Parties with knowledge of relevant potential investment opportunities are encouraged to contact Keystone.

Terms of the transaction are not being disclosed. Senior debt financing was provided by CIBC Bank USA and legal counsel was provided by Honigman Miller Schwartz and Cohn, LLP.

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Sean Lyons
(312) 219-7967
slyons@keystonecapital.com

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Brian Prendergast
(312) 219-7968
bprendergast@keystonecapital.com

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Brian Prendergast
(312) 219-7968
bprendergast@keystonecapital.com

Contact Information

Kent Dauten
(312) 219-7970
kdauten@keystonecapital.com

Scott Gwilliam
(312) 219-7971
sgwilliam@keystonecapital.com

Keystone Capital, Inc. is pleased to announce that its portfolio company Peak-Ryzex, Inc. (Peak) has been acquired by Sole Source Capital, LLC. Terms of the transaction have not been disclosed.

Keystone originally invested in Peak in October 2011, a leading provider of automatic identification, data capture (“AIDC”) and factory automation solutions. Keystone and Peak subsequently completed six add-on acquisitions over the past nine years significantly growing the size of the business and establishing it as the industry leader. Peak represents another successful investment for Keystone within its Commercial and Industrial (C&I) Services efforts.

Founded in 1981, Peak delivers innovative automated data collection solutions to Fortune 500 customers along with small and medium-sized businesses, providing critical technology that allows businesses to become more efficient and responsive. Peak is a technology systems integrator of barcoding, data collection, and factory automation equipment, delivering innovative digital supply chain and mobile workforce solutions across North America and Europe. Peak is headquartered in Columbia, MD and has seven locations in the US and two in the U.K.

“We are extremely appreciative for the hard work, dedication and commitment from the Peak management team in building a market leading business and delivering a successful outcome for shareholders” commented Chaoran Jin, Managing Director of Keystone. “We wish the Peak management team the best for their new chapter with Sole Source.”

Juliann Larimer, Chief Executive Officer of Peak-Ryzex added, “Over the last 9+ years Keystone has been a true partner to Peak in every sense of the word, from sourcing acquisitions through helping to shore up our operations, enabling us to drive record profits and growth. As important, together we have built a “customer-first” culture that is ready to take the business to the next level, and our successful exit is a reflection of that partnership in action.”

Investment banking services were provided to Peak and Keystone by Stifel, Nicolaus & Company, Inc., and legal services were provided by Honigman LLP.

Contact Information

Scott Gwilliam, Managing Partner
(312) 219-7971
sgwilliam@keystonecapital.com

Chaoran Jin, Managing Director
(312) 219-7976
cjin@keystonecapital.com

Brian Chung, CFO
(312) 219-7975
bchung@keystonecapital.com

Brian Prendergast, Associate
(312) 219-7968
bprendergast@keystonecapital.com

Keystone Capital is pleased to announce that its portfolio company JOBS Group (JOBS) has been merged with Valcourt Building Services (Valcourt), which recently received a growth equity investment from private investment firm Littlejohn & Co. Terms of the transaction have not been disclosed.

Keystone formed JOBS in June 2019 after its initial investment in Jobs Building Services, LLC, a leading commercial window cleaning and facility maintenance provider in Houston, TX. Keystone subsequently completed three add-on acquisitions to JOBS over the course of the next 18 months, approximately doubling the size of the business. JOBS represents another successful investment for Keystone within its Commercial and Industrial (C&I) Services efforts.

Based in Houston, TX, JOBS specializes in high-rise façade maintenance including window cleaning and waterproofing, metal surface maintenance, elevator cab interior refurbishment, and other related property maintenance services. The JOBS portfolio of companies operates under the AMST, April Building Services, EDS, JOBS Building Services, and Scottie’s Building Services trade names, primarily in Texas and the Carolinas.

Established in 1986 and headquartered in McLean, VA, Valcourt provides a full range of recurring and essential exterior building maintenance services that require vertical access capabilities, including window cleaning, waterproofing and safety services to Class-A commercial offices, high-rise residential condominiums, hospitality businesses, healthcare facilities and other clients. Valcourt received an investment from Littlejohn & Co. LLC in January 2021.

“We are extremely happy with the outcome of the JOBS investment,” commented Jason Van Zant, Managing Director of Keystone. “We wish Eric Crabb and the JOBS management team the best for their new chapter with the Littlejohn and Valcourt teams.” Keystone has retained a minority equity interest in the combined Valcourt / JOBS business.

Eric Crabb, Chief Executive Officer of JOBS Group added, “Keystone was a terrific partner for JOBS and our partnership with Keystone was strong. We are excited, however, to work with the experienced team at Valcourt and bring together leading building services brands in the U.S.”

Investment banking services were provided to JOBS and Keystone by Truist Securities, and legal services were provided to JOBS and Keystone by Honigman LLP.

Contact Information

Jason Van Zant, Managing Director
(312) 219-7974
jvanzant@keystonecapital.com

Kevin Overby, Vice President
(312) 219-7966
koverby@keystonecapital.com

 Andrew Wehr, Vice President
(312) 219-7980
awehr@keystonecapital.com

Brian Prendergast, Associate
(312) 219-7968
bprendergast@keystonecapital.com

Keystone Capital (“Keystone”) is pleased to announce that its portfolio company, KENDELL, has completed the acquisition of Watson Security Group, a leader in electronic access control integration and mechanical security services based in Seattle, WA. KENDELL is a leader in the commercial door and door hardware distribution industry based in Minneapolis, MN.

The acquisition of Watson is a strategic extension of KENDELL’s core door openings distribution market position into the aftermarket service industry and reinforces KENDELL’s commitment to providing full-service, full-lifecycle solutions to its client base. Additionally, the acquisition further solidifies KENDELL’S leading market position in the Pacific Northwest, complementing its existing door and door hardware distribution business in Tacoma, WA.

“Watson represents an intriguing strategic move for KENDELL,” commented Jason Van Zant, Managing Director at Keystone Capital. “This acquisition will enable KENDELL to provide more value-add and full lifecycle solutions to clients, as well as further differentiate KENDELL from competition.”

Watson Security is KENDELL’s third add-on acquisition since partnering with Keystone in April 2019. KENDELL is actively seeking additional acquisition opportunities and parties with knowledge of potential investment opportunities are encouraged to contact Keystone Capital. Areas of interest for additional add-on acquisitions include: (i) commercial door and door hardware distribution, (ii) electronic security and access control integration, and (iii) commercial locksmiths and physical access / door service organizations.

Contact Information

Jason Van Zant
(312) 219-7973
jvanzant@keystonecapital.com

Michael Weston
(312) 219-7982
mweston@keystonecapital.com

Keystone Capital, Inc. (“Keystone”) is pleased to announce it has completed a strategic investment in Inspire11 (“Inspire” or “the Company”), a leading digital transformation and technology innovation consultancy with more than 200 employees across offices in Chicago, Minneapolis, and Atlanta as well as offshore development centers in Macedonia and Kosovo.

Through a unique combination of strategy and development expertise, Inspire helps clients better leverage modern technology infrastructure, data science, and experience design to transform their business. The Company’s capabilities span the full lifecycle of a client’s digital transformation journey and include digital strategy consulting, infrastructure & data architecture implementation, custom development, data science & monetization, and digital product ideation & creation. Inspire delivers its solutions to Fortune 500 clients across market sectors with specific expertise in healthcare, financial services, and food & beverage. In 2020, Inspire11 was recognized in the Inc. 5000 list as the #10 fastest growing business, and #1 fastest growing services business, in the United States over the past three years.

Alban Mehmeti, Co-Founder and CEO, noted, “We are thrilled to begin our partnership with Keystone. Our shared entrepreneurial culture and Keystone’s patient investment philosophy are a perfect fit for our people and clients.”

“Keystone’s deep understanding of our business and their financial support will enable us to pursue exciting new growth initiatives and continue to capitalize on the broad market shift towards adopting modern technology infrastructure and data monetization”, added Hans Nelson, Co-Founder and President.

“Keystone is delighted to partner with Inspire11 to help them build on their incredible success bringing a truly differentiated approach to technology consulting to an enviable group of clients,” commented Bill Sommerschield, Managing Director at Keystone Capital. “We see tremendous opportunity ahead for Inspire to continue to scale and develop through internal growth and talent development initiatives, as well as select complementary acquisitions.”

Co-Founders Alban Mehmeti, Hans Nelson, and Kevin Schaffer will continue to lead the business forward. For more information on Inspire11, please visit inspire11.com.

Terms of the transaction are not being disclosed. In connection with this transaction, senior debt financing was provided by Wintrust Bank, legal counsel was provided to Keystone by Honigman, and legal counsel was provided to Inspire11 by Jones Day.

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Michael Weston
(312) 219-7982
mweston@keystonecapital.com

Keystone Capital is pleased to announce that its portfolio company JOBS Group has completed two add-on acquisitions, Scottie’s Building Services (“Scottie’s”) and Exterior Diagnostic Services (“EDS”). Headquartered in Houston, JOBS is a leading provider of commercial building maintenance and restoration services, including window cleaning, metal and stone maintenance, elevator cab interior refurbishing, and façade maintenance/waterproofing.

Established in 1986, Scottie’s and EDS are headquartered in Raleigh, NC. Scottie’s is a leading provider of commercial window cleaning, pressure washing, glass & metal restoration, and high dusting services. EDS is a leading provider of waterproofing and façade restoration  services for commercial and industrial applications and will complement JOBS’ exterior restoration services group. Scottie’s and EDS will significantly expand the geographic footprint, service capabilities, and management depth of JOBS.

JOBS Group is actively seeking bolt-on acquisition opportunities within niche areas of the commercial facilities services and maintenance industry. Targeted services include window cleaning, pressure washing, façade maintenance, waterproofing, metal and architectural surface maintenance, elevator maintenance, and parking surface maintenance. Parties with knowledge of acquisition opportunities that may fit the JOBS Group strategy are encouraged to contact Keystone Capital.

“We’re excited about the prospects of a ‘one plus two equals four’ combination in the case of JOBS, Scottie’s, and EDS,” commented Jason Van Zant, Managing Director, Keystone Capital. “This transaction is a critical step on our path to building a national commercial façade and surface maintenance platform and adds significantly to the depth of our capabilities and team.”

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Brian Prendergast
(312) 219-7968
bprendergast@keystonecapital.com

Keystone Capital, Inc. (“Keystone”) is pleased to announce it has completed an investment partnership with Jobs Building Services, LLC (d/b/a “JOBS” or “the Company”), a Houston-based niche facilities services provider focused on commercial properties.

Founded in 1970, JOBS operates under the “JOBS” and “AMST” trade names and specializes in high-rise façade maintenance (including window cleaning and waterproofing), metal surface maintenance, elevator cab interior refurbishment, and other related property maintenance services. JOBS has built a market-leading position in the Houston market for its services based on a reputation for safety, reliability, and quality of work. The Company counts the area’s leading property management firms, building owners, and corporations as its clientele. For more information on JOBS, please visit www.jobs-amst.com.

Keystone and JOBS are pleased to announce two exciting new events since the completion of our platform investment in June 2019. In December, JOBS completed the acquisition of April Building Services, Inc. (“April”), a leading provider of façade maintenance services in the Dallas-Ft. Worth market. Founded in 1988, April is led by Donald Brown (President) and Tony Schiber (Vice President).

Secondly, Keystone and JOBS are pleased to welcome Eric Crabb as the Company’s new Chief Executive Officer effective June 1, 2020. Mr. Crabb has a wealth of facilities services experience, having most recently served as Executive Managing Director with Cushman & Wakefield. Prior to his role at Cushman & Wakefield, Mr. Crabb served as CEO of QSI Facilities which was acquired by Cushman & Wakefield in January 2019. Mr. Crabb also has over 10 years of facility services experience in managerial roles at ABM Industries.

Current CEO and Founder LaRue Coleman will be assuming the role of Chairman of the Board, in which he will continue to have strategic involvement with key customers as well as the Company’s acquisition strategy. “There is great opportunity for consolidation in our industry,” noted Mr. Coleman. “As such, our goal was to find a financial partner and management structure to enable our company to lead this consolidation but also to protect what has made our company successful. We believe we have found an ideal partner in Keystone and an ideal CEO to lead us through this next phase in Eric Crabb. We’re also pleased to welcome Don, Tony and the entire April team to our platform and excited about the potential synergies that this partnership can create for our collective client base.”

“I am thrilled to be joining JOBS and am looking forward to helping continue the legacy that LaRue and his team have built over the last 50 years.  JOBS has an existing leadership team with a deep breadth of both industry and company experience, having them remain a part of the next phase of transformation will be incredibly instrumental.  Additionally, having an equity partner like Keystone, who understands the industry and has a proven track record of building great companies, will be a significant advantage.  I started my career in Houston almost 20 years ago, so getting a chance to come back and work with the all the outstanding CRE individuals in the market is a real bonus for me personally, ” commented Mr. Crabb.

“Keystone is excited to partner with LaRue Coleman, Eric Crabb and the team at JOBS,” commented Jason Van Zant, Managing Director of Keystone Capital. “JOBS has a stellar reputation in their market which we are committed to protecting. At the same time, we see great opportunity to grow the business substantially, and the entire management team shares that goal.”

JOBS is actively seeking bolt-on acquisition opportunities within niche areas of the commercial facilities services and maintenance industry. Parties with knowledge of potential investment opportunities in these segments are strongly encouraged to contact Jason Van Zant or Kevin Overby at Keystone Capital.

Terms of these transactions are not being disclosed. Senior debt financing has been provided by CIBC Bank USA and legal counsel was provided by Honigman LLP.

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Andrew Wehr
(312) 219-7980
awehr@keystonecapital.com

Keystone Capital, Inc. (“Keystone”) is pleased to announce that its portfolio company, MERGE, has completed the acquisition of the Sandbox Group (“Sandbox”), a leading independent, full-service, strategic and digital agency based in Chicago.  The combination forms one of the largest independent agencies in North America with more than 600 employees in seven locations across the United States and Canada.

Keystone initially acquired MERGE, a premium creative technology agency, in December 2018. The Company’s capabilities include business & digital strategy, marketing execution, analytics, experience design, technology development, and media services. MERGE delivers customer engagement solutions across market sectors with specific expertise in healthcare and financial services. MERGE is headquartered in Chicago with additional offices in Boston and Atlanta. For more information on MERGE, please visit Mergeworld.com.

Sandbox is a leading independent, full-service agency which helps companies accelerate growth and drive business transformation. Sandbox has an impressive client roster which includes: Abbott Diabetes, American Express, Boston Scientific, Sprint, and LG among others. The agency operates from five locations across the United States and Canada: Chicago, New York, Kansas City, Toronto, and Orange County. For more information on Sandbox, please visit Sandbox.com.

For several years MERGE and Sandbox have been on parallel paths building agencies that promote health, wealth, and happiness. Combined, the entities offer a true 360-degree view of multiple markets with deep expertise within the healthcare and financial services verticals. Joining forces will provide all clients stronger advanced digital capabilities, specifically in areas such as performance marketing and experience design.

“Many CMOs are seeking to simultaneously elevate their brand and drive business growth, but efforts are often disjointed and diametrically opposed. The partnership of MERGE and Sandbox balances brand building and demand building marketing capabilities as a remedy to those challenges,” said Patrick Venetucci, Chief Executive Officer of MERGE. “Uniting our complementary digital capabilities, MERGE is now even better positioned to help catapult our clients to the top of their categories.”

“Sandbox is a terrific complement to MERGE rounding out our healthcare vertical with deep pharma expertise, providing advanced performance marketing capabilities, and adding shopper marketing through their work with Sprint and LG.  We look forward to aligning the agencies more closely in the coming months and watching their success as they collaborate to serve clients.” commented Bill Sommerschield, Managing Director at Keystone.

All of the members of the MERGE and Sandbox executive teams will remain in leadership positions with Patrick Venetucci serving as Chief Executive Officer of the newly combined company, which will operate under the MERGE brand.

Terms of the transaction were not disclosed. Legal counsel was provided to MERGE and Keystone by Honigman Miller Schwartz and Cohn, LLP. Sandbox was advised by Lincoln International in connection with this transaction.

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

The PharmaLex Group (“PharmaLex”), a leading specialist provider of development consulting and scientific affairs, regulatory affairs and pharmacovigilance, has completed the acquisition of Arbour Group, LLC (“Arbour” or “the Company”) from Keystone Capital, Inc. (“Keystone”). Terms of the transaction were not disclosed.

Arbour is a leading provider of regulatory compliance solutions for the global life sciences industry. The Company is headquartered in Chicago, Illinois, and has sales offices throughout North America along with global regulatory delivery centers in Dubai, UAE and Manila, Philippines.

“Arbour Group is a well-recognized service provider with excellent reputation in the regulatory compliance market”, explained Dr Thomas Dobmeyer, CEO PharmaLex. “Their specialist expertise will enable us to drive business in the US whilst allowing us to expand our quality management and compliance service line worldwide. In addition it supports one of our key focus of developing connected health solutions to help customers drive efficiency gains within their own operations,” he added.

Senior management team members Alexander Patterson, Ahsan Raza, and Christopher McNally will be continuing in their current operating roles and as shareholders in Arbour post-closing. “The merger with PharmaLex provides Arbour the ability to deliver broad-spectrum regulatory and pharmaceutical service offerings, which our global customer base is demanding as their operating environments become increasingly complex,” noted Alexander Patterson, Founder and CEO of Arbour Group. “We are delighted to be partnered with an organization that shares the values and market reputation, which we have maintained with our customers throughout our 23-year history.”

“We are pleased with the outcome of the Arbour/PharmaLex transaction, as we believe that these organizations will be a terrific fit in a rapidly evolving industry. We wish both teams the best of luck with the combination,” noted Jason Van Zant, Managing Director, Keystone Capital.

Legal counsel was provided to Keystone and Arbour by Honigman Miller Schwartz and Cohn, LLP, and Fairmount Partners served as Keystone and Arbour’s financial advisor. McDermott Will & Emery LLP served as PharmaLex’s legal counsel, and Rödl Langford de Kock LLP provided tax and accounting advice.

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Keystone Capital, Inc. ("Keystone"), a Chicago-based private investment firm, is pleased to announce that its portfolio company The Greeley Company (“Greeley”) has been acquired by The Chartis Group (“Chartis”). Chartis provides comprehensive advisory services and analytics to the healthcare industry. Terms of the transaction have not been disclosed.

Greeley is a leading provider of clinical effectiveness, regulatory compliance, CMS remediation, and physician and medical staff services. Having served over 2,000 organizations nation-wide, Greeley's areas of expertise include clinical practice optimization, medical staff alignment, regulatory compliance and quality, accreditation, and credentialing and privileging.  The Greeley sale completed an active year for Keystone which saw the firm close four platform investments, four add on acquisitions, and two divestitures.

Over the course of Keystone’s investment in Greeley the business completed a strategic add on acquisition, expanded the leadership team, invested in technology to streamline processes, and significantly increased both revenue and earnings. “We enjoyed partnering closely with management during our tenure together and we believe this is a great next step for Greeley and the team,” commented David Greer, Managing Director at Keystone Capital.

Greeley and Keystone were represented by Lincoln International in the transaction. Legal advice was provided by Honigman, LLP.

Contact Information

David Greer
(312) 219-7972
dgreer@keystonecapital.com

As part of its formation, Foundation has partnered with two general dentistry practices in metro Atlanta and South Carolina which will continue to operate under their respective brand names while leveraging strategic, administrative, and back office support from Foundation. Keystone and Foundation are investing heavily in corporate infrastructure while pursuing additional practice acquisitions in attractive markets across the Southeastern U.S.

“We are thrilled to begin our partnership with Keystone,” noted Adam Ditto, CEO of Foundation. “This has been a unique experience building Foundation from day one and Keystone’s patient, long-term approach to investing personal capital has been the perfect fit for Foundation and truly resonates with our partner practices.”

“We are excited to get Foundation off the ground with two attractive practices,” commented Kevin Overby, Vice President at Keystone Capital. “We, Adam, and the rest of the Foundation team see a tremendous opportunity to provide an alternative to the traditional DSO model and believe we have created a business that will be the ‘partner of choice’ for doctor-owners.”

Foundation is actively seeking acquisitions of single and multi-location, private-pay general dentistry practices with an initial focus on the Southeastern U.S. Parties with knowledge of potential opportunities are encouraged to contact Keystone Capital.

Terms of the transaction are not being disclosed. Senior debt financing was provided by Wintrust Bank and legal counsel was provided to Keystone by Honigman LLP.

Contact Information

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Marlton, New Jersey (October 30, 2019) – Santa Claus and Cherry Hill Programs have partnered to launch a new website www.WhereIsSanta.com, an innovative online resource to help guests pinpoint the perfect location for their visit with Santa.

“WhereIsSanta.com is part of the company’s new marketing strategy and significant investment in the growth of our business; an investment unlike any of its kind in the 60-year history of our company,” shared Ed Warchol CEO at Cherry Hill Programs.

WhereIsSanta.com now makes reserving a time with Santa Claus and pre-purchasing a photo package online easier than ever with one-click access to Santa’s FastPass, the company’s innovative online reservation platform.

“Cherry Hill Programs designed WhereIsSanta.com to provide guests with all the tools necessary to navigate Santa’s busy schedule and make the most of this holiday tradition,” said Matt Windt, Cherry Hill Programs’ chief marketing officer. “Santa’s arrival in some areas comes as early as November 1^st, while in other areas he delays his arrival while he tends to the elves and his reindeer at the North Pole. We’ve built WhereIsSanta.com to be the one-stop shop for our guests to find a convenient location to visit Santa Claus.”

During each visit, a Cherry Hill Programs associate will capture professional photos of the experience, which will then be available for purchase in print & digital photo packages to make one-of-a-kind memories, to cherish for a lifetime.

Warchol added, “Our new programs and the build-out of WhereIsSanta.com illustrates our commitment to growing our business and helping customers find Santa. Our team of 10,000 associates are excited to welcome guests at one of our nearly 900 locations nationwide.”

Please note: Walk-in visits with Santa are always welcome. Reservations are optional and available at select locations.

About Cherry Hill Programs

Cherry Hill Programs is the industry-leader in experiential photography. In partnership with nearly 900 signature shopping and hotel destinations across North America, Cherry Hill Programs delivers more than 10 million magical experiences annually with authentic Santas and Easter Bunnies for the young and young-at-heart. Cherry Hill Programs (CHP) delivers unforgettable memories, captured with high-resolution digital images that guests cherish year after year. Delivering a magical experience. Every time.

Contact Information

David Greer
(312) 219-7972
dgreer@keystonecapital.com

Keystone Capital continues to see strong growth in new investment activity in 2019 following a record year in 2018. As a result, Keystone Capital is pleased to announce the following promotions and staffing updates!

Kevin Overby Promoted to Vice President

Kevin Overby has recently been promoted to Vice President after joining Keystone as an associate in 2016. Kevin has played a leadership role in three platform investments as well as several add-on acquisitions since joining the firm. Kevin has supported the continued transformation of our plant-based foods business, Keystone Natural Holdings, through the execution of three add-on acquisitions and multiple organic growth initiatives. Kevin is also deeply involved with Keystone’s most recent platform investment, KENDELL. With this promotion, Kevin will continue to focus on identifying new investment opportunities and driving the growth and performance of Keystone’s partner companies.

Tyler Collingbourne

Tyler Collingbourne joined Keystone Capital in late 2018 as an Associate. Tyler’s primary focus is in the identification, sourcing, and evaluation of investment opportunities and supporting the Keystone team and its partner companies. Since joining Keystone, Tyler has been involved in Keystone’s investment in MERGE as well as in the recent acquisition of a food products platform. Prior to Keystone, Tyler worked as an investment banking analyst at TM Capital Corp. focused on middle-market mergers and acquisitions advisory services.

Jennifer Maes

Jennifer Maes joined Keystone in April 2019 as an Accounting Manager. Her primary focus will be working with Keystone’s finance team, with a specific responsibility for Keystone’s internal accounting support. Prior to joining Keystone, Jennifer worked at GTCR, where she focused on investor relations activities as well as portfolio analysis. She also previously worked at PricewaterhouseCoopers as a Senior Tax Associate. Jennifer is a Certified Public Accountant and holds a Master of Accountancy from DePaul University and a B.B.A. in Accounting from Benedictine University.

Brian Prendergast

Brian Prendergast joined Keystone Capital in July 2019 as an Associate. Brian’s primary focus is in the identification, sourcing, and evaluation of investment opportunities and supporting the Keystone team and its partner companies. Previously, Brian worked as an investment banking analyst in the technology group at William Blair & Co. Brian graduated from the University of Illinois at Urbana-Champaign with degrees in Finance & Accountancy.

Contact Information

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Tyler Collingbourne
(312) 219-7967
tcollingbourne@keystonecapital.com

Jennifer Maes
(312) 219-7981
jmaes@keystonecapital.com

Brian Prendergast
(312) 219-7968
bprendergast@keystonecapital.com

Keystone Capital, Inc. (“Keystone”) is pleased to announce it has completed an investment partnership with KENDELL Doors & Hardware, Inc. (“KENDELL” or “the Company”), a value-added distributor of door openings, door hardware and related access control products for institutional and commercial applications in the built environment.

Operating over a history spanning nearly 80 years, KENDELL is a leading door opening solutions specialist in the Minneapolis/St. Paul metropolitan market. KENDELL provides a host of value-added services, including design, specification, engineering, installation, inspection and pre-installation services to its client base of leading general contractors and institutions. In addition to its Minneapolis headquarters, KENDELL has established regional domestic offices in Winona, MN; Rochester, MN; Mankato, MN; Madison, WI; and Des Moines, IA. KENDELL also recently established a global initiative with the launch of Kendell International, operating out of offices in Dubai, UAE; Muscat, Oman; and Doha, Qatar. For more information on KENDELL, please visit www.kendelldrs.com.

“Our partnership with Keystone could not have been consummated at a more opportune time,” noted John Katter, CEO of KENDELL. “We believe there is great opportunity for further growth and consolidation in the global security and access control market, and that KENDELL is well positioned to play a leadership role in this consolidation. With the long-term, patient and unique model that Keystone contributes to our organization, we will be even better positioned to capitalize on these trends.”

To complement its organic growth plans, KENDELL announced the acquisition of Washington Architectural Hardware (“WAH”) in April 2019. The acquisition of WAH expands KENDELL’s reach into the fast-growing Pacific Northwest region and complements product offerings.

“Without a doubt, Keystone is looking forward to our partnership with John Katter and the team at KENDELL,” commented Jason Van Zant, Managing Director of Keystone Capital. “We, John, and the rest of his team see a substantial opportunity to build a leader in this industry utilizing actionable organic growth initiatives as well as targeted strategic acquisitions.”

Keystone and KENDELL will be actively seeking acquisition opportunities in the security door/door hardware distribution industry as well as in the electronic access control/integration industry. Parties with knowledge of potential investment opportunities in these segments are encouraged to contact Keystone Capital.

Terms of the transaction are not being disclosed. Senior debt financing was provided by CIBC Bank USA and legal counsel was provided by Honigman Miller Schwartz and Cohn, LLP.

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Keystone Natural Holdings (“KNH”), a portfolio company of Keystone Capital, Inc. (“Keystone”), is pleased to announce the completion of its acquisition of the WestSoy® tofu, seitan, and tempeh businesses from The Hain Celestial Group, Inc. (Nasdaq: HAIN) (“Hain Celestial”). The acquisition did not include the WestSoy® plant-based beverage business, which has been retained by Hain Celestial.

KNH is a leading plant-based, better-for-you food company with operations in the United States and Canada. The company’s authentic and health-conscious products from storied brands such as Nature’s Soy®, Franklin Farms™, and Superior Natural™ are proudly sold through mainstream and ethnic channels via retail, mass market, natural, specialty, and food service outlets. The company continues to actively pursue strategic acquisitions to further expand its portfolio of innovative products and better serve consumers seeking alternative proteins for all meal occasions. Please visit www.keystonenatural.com for more information.

This acquisition marks KNH’s third in the past 18 months and provides KNH with additional product capabilities as well as expanded manufacturing capacity in its existing tofu product line. All employees at the WestSoy® facility in Boulder, Colorado have been retained to continue to drive growth and product innovation. “We are excited to welcome WestSoy®’s exceptional people and better-for-you products to KNH,” said Kenny Sung, CEO of KNH. “Our strategy has been to focus on delivering innovative, high-quality, healthy plant-based food to the market. The WestSoy® acquisition is a great fit with that strategy.”

Terms of the transaction are not being disclosed. Senior debt financing was provided by Wintrust Bank. Legal counsel was provided to Keystone by Honigman Miller Schwartz and Cohn, LLP.

Contact Information

Chaoran Jin
(312) 219-7976
cjin@keystonecapital.com

Brian Chung
(312) 219-7975
bchung@keystonecapital.com

Kevin Overby
(312) 219-7966
koverby@keystonecapital.com

Keystone Capital, Inc. (“Keystone”) is pleased to announce that its portfolio company, CONSOR Engineers, has completed the acquisition of Structural Grace. With Structural Grace’s proven and talented team of engineers, inspectors, and surveyors as a part of the CONSOR family, CONSOR continues to enhance its resume and expertise in bridge and transit projects and establishes a foundation for future expansion throughout the Western US.

CONSOR is a North American transportation and water resources engineering firm providing services including planning and design, structural assessment, and construction services. The firm was created in 2018 when four entrepreneur-led businesses came together with the vision of building an engineering firm with the scale to win high-profile projects on the national stage while staying true to their entrepreneurial roots and maintaining their commitment to provide exceptional service to their clients and local communities. With more than 40 offices across the US and Canada, CONSOR is approaching 700 employees including more than 135 professional licensed engineers and was recently ranked #134 on ENR’s 2019 list of the top 500 design firms. The company continues to actively pursue like-minded business leaders to expand and strengthen its geographic footprint and diversify into complementary services. Please visit www.consoreng.com for more information.

Structural Grace is an Arizona-based engineering firm specializing in bridge and transit projects. Through its 20-year history, Structural Grace has established itself as a reputable player in the Arizona marketplace, providing design, construction management and inspection, and construction staking services to its public and private clients. The addition of Structural Grace greatly strengthens CONSOR’s Western US presence and adds strong talent and leadership to CONSOR’s growing team. CONSOR is committed to building around the Structural Grace team and legacy to establish a leading presence in Arizona and the greater Western US. Please visit www.structuralgrace.com for more information.

“We are extremely pleased to welcome Structural Grace to the CONSOR family,” commented Scott Gwilliam, Managing Partner of Keystone Capital. “From day one, it was apparent that Structural Grace was the ideal platform for our launch into Arizona. The combination of a strong presence in Phoenix and Tucson, a reputation for superior client and community service, and an employee-centric culture made them the perfect addition to our team at CONSOR.”

“In selecting a partner for Structural Grace, it was imperative that we find a company with compatible business values, a company dedicated to employee development and client-service,” remarked Claudia Perchinelli, Principal and Co-founder of Structural Grace. “We have found that in CONSOR and look forward to the opportunities to better serve our clients and communities in a bigger way than we could before.”

Terms of the transaction are not being disclosed. Senior debt financing was provided by a consortium led by CIBC, and legal counsel was provided to CONSOR by Honigman LLP. Structural Grace was advised in this transaction by Morrissey Goodale LLC.

Contact Information

Scott Gwilliam
(312) 219-7971
sgwilliam@keystonecapital.com

Erik Gernant
(312) 219-7969
egernant@consoreng.com

Keystone Capital, Inc. (“Keystone”) is pleased to announce that its portfolio company, Merge, has completed the acquisition of Beam, a premier experience design, digital marketing, and technology consultancy based in Boston.

Keystone initially acquired Merge, a premium creative technology agency, in December 2018. The Company’s capabilities include business & digital strategy, creative advertising, marketing execution, content creation, analytics, custom technology development, and media services. Merge delivers customer engagement solutions across market sectors with specific expertise in healthcare. For more information on Merge, please visit Mergeworld.com.

Beam is an experience design and digital marketing consultancy. Beam exists to make frictionless, fantastic, and effective digital experiences and help their clients win in a data-driven, customer-centered world. Core services provided by Beam include opportunity identification, experience strategy and design, CRM, and marketing/sales/analytics platform development. Current clients include Fidelity Investments, Boston Consulting Group, AMG, Charter Communications, and TPG/Beaver-Visitec, among others.  For more information on Beam, please visit beamland.com.

The transaction bolsters the company’s offerings in experience strategy and design, CRM, and platform development. In turn, Merge offers Beam and its client partners increased creative and technology depth as well as robust media and contact planning capabilities. Both Merge and Beam bring extensive experience in the healthcare, financial services, travel and leisure, and consumer products sectors. The successful collaboration between the two companies on a number of clients over the past year led naturally to this partnership.

“Engaging experiences are what attract customers and differentiate businesses today.” said Patrick Venetucci, CEO of Merge ”While features and functionality can be easily copied by competitors, a superior experience is difficult to replicate—and Beam excels at creating frictionless, innovative experiences. We are delighted to welcome Beam to the Merge family.”

“Beam nicely complements Merge’s existing capabilities enhancing our experience design, strategy, and platform development capabilities. We are excited to watch the already successful collaboration between the two agencies flourish now that they are under a common flag.” commented Bill Sommerschield, Principal at Keystone Capital.

Terms of the transaction are not being disclosed. Legal counsel was provided to Keystone by Honigman Miller Schwartz and Cohn, LLP, and Beam was advised by Palazzo in connection with this transaction.

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Keystone Capital, Inc. (“Keystone”) is pleased to announce it has completed a partnership with MERGE (“MERGE” or “the Company”), a marketing and technology services agency with more than 270 employees across offices in Chicago, Boston, and Atlanta.

MERGE is an integrated agency combining strategy, creativity, and technology to address clients’ business challenges and customer engagement needs. The Company’s capabilities include business & digital strategy, brand development, creative advertising, digital marketing execution, digital design & content creation, data analytics, custom technology development, and media services. Merge delivers omni-channel solutions across market sectors with specific expertise in healthcare. Ron Bess will be named Executive Chairman and will remain as CEO of MERGE. Patrick Venetucci, a 30-year industry veteran with previous global executive roles at Leo Burnett Worldwide and Dentsu Aegis, has joined the agency as CEO partnering with Ron to lead the business forward together. For more information on MERGE, please visit mergeworld.com.

Ron Bess and Patrick Venetucci, CEOs of MERGE, noted, “We are thrilled to begin our partnership with Keystone Capital. We see tremendous opportunity to build on the strong foundation developed over the past two years. Keystone’s unique approach to patiently investing their personal capital alongside management with a focus on long-term value creation is the perfect fit for our employees and our clients. In addition, Keystone’s deep understanding of marketing and technology-enabled services will provide us with an experienced strategic partner to help achieve our goals for organic growth and complementary acquisitions.”

“Keystone is excited to partner with the talented team at MERGE to continue building on their success serving clients at the intersection of marketing and technology” commented Bill Sommerschield, Principal at Keystone Capital. “We and management see a substantial opportunity to further enhance MERGE’s differentiated capabilities, end-market expertise, and client-centric service approach through internal growth and talent development initiatives as well as targeted acquisitions.”

Terms of the transaction are not being disclosed. Senior debt financing was provided by Wintrust Bank, legal counsel was provided to Keystone by Honigman Miller Schwartz and Cohn, LLP, and MERGE was advised by JEGI in connection with this transaction.

Contact Information

Bill Sommerschield
(312) 219-7973
bsommerschield@keystonecapital.com

Keystone Capital is pleased to announce that its portfolio company E4H Architecture, LLC (“E4H”) has completed a merger with RSG Architects, LLC (“RSG”). Terms of the transaction are not being disclosed.

E4H is a leading design, architecture, planning and consulting firm focused exclusively on the healthcare industry. The firm has 160 healthcare planners and architects in offices across the United States and has collectively completed more than 6,500 healthcare projects over the past four decades. The E4H portfolio includes over $6 billion in projects, encompassing community hospitals, academic medical centers, life science laboratories, R&D space, children's hospitals, mental health facilities, ambulatory care centers, rehabilitation facilities, assisted living, and medical office buildings. Services include healthcare planning, architecture, and interior design. In 2016, E4H was ranked by Modern Health as the largest architecture firm focused exclusively on the healthcare market. Please visit www.e4harchitecture.com for more information.

RSG is a niche design, architecture and planning firm focused on the healthcare industry based in Chantilly, Virginia. RSG was founded by principals John Scoggin, Jeremy Bartz and Richard Whitaker and is a leader in the D.C./Northern Virginia area. RSG complements E4H’s strategy of adding regional leaders to the platform and realizing synergies across a national base of clients and projects.

“We are extremely pleased about the E4H/RSG transaction and what it will do for our collective platform,” remarked Jason Van Zant, Managing Director of Keystone Capital. “As one of Keystone’s growing platforms in the A/E space, E4H has tremendous momentum as the market leader in healthcare architecture, and this transaction only reinforces it.”

“We’ve built a strong practice in the Mid-Atlantic region and are excited to take our work to the next level by becoming part of a national firm that’s doing award winning healthcare design,” said John Scoggin, Principal, RSG Architects. “We are looking forward to offering E4H’s expertise and enhancing our capacity for our healthcare clients throughout the Mid-Atlantic region.”

Terms of the transaction are not being disclosed. Senior debt financing was provided by CIBC, and legal counsel was provided to E4H by Honigman Miller Schwartz and Cohn, LLP.

Contact Information

Jason Van Zant
(312) 219-7974
jvanzant@keystonecapital.com