M&A NEWS: Alpine Air Express, ELB Learning, Paradise Fire Protection, Terra Millennium, and Fusion
The following highlights cover M&A news over the past several weeks in Utah. Each company is separate and not associated unless specified.
Alpine Air Express acquires Suburban Air Freight
Alpine Air Express, a Provo, Utah-based air cargo carrier company, purchased Suburban Air Freight, headquartered in Omaha, NE, to expand dedicated cargo services for FedEX, UPS, USPS, DHL International and others.
According to the company press release, Suburban Air Freight's leadership team of Treasurer Geoff Gallup and President James (Jay) Armstrong will remain with the company to help with the transition.
ELB Learning Acquires CoreAxis, an Award-Winning Learning Solutions Provider
ELB Learning's, formally called eLearning Brothers, recent acquisition of CoreAxis is, according to Andrew Scivally, CEO, another step closer to becoming "the one-stop for companies that want to create better learning experiences." This is the third acquisition in 2022 for the American Fork, Utah-based company.
In January 2022, ELB Learning acquired Rehearsal, a video-based coaching and practice platform, and Origin Learning, an India-based company that provides learning design, development, and technology solutions. CoreAxis is a creative training design, development, and on-demand learning resource provider.
Pye-Barker Fire & Safety Acquires Paradise Fire Protection in Utah
Paradise Fire Protection, headquartered in Logan, UT, was acquired by Atlanta, GA-based Pye-Barker Fire & Safety.
Paradise Fire Protection a fully integrated collection of fire safety and alarm security services for the commercial sector. They specialize in installation, inspection, testing, and maintenance of fire alarms, sprinklers, and extinguishers. With this acquisition, Pye-Barker Fire & Safety hopes to expands its market density in the suburban communities north of Salt Lake City.
The company press release reports that John Blankman and his highly trained employees will stay on, and the business will continue to operate as normal with additional resources from Pye-Barker.
Terra Millennium Being Acquired by H.I.G. Capital
Terra Millennium Corporation, a Salt Lake City-based provider of outsourced industrial maintenance services, including refractory design and maintenance, fireproofing, insulation, coatings, scaffolding, and mechanical services, is being acquired by an affiliate of the H.I.G Capital Investment Firm.
According to the company press release, H.I.G. Capital services a diverse blue-chip customer base across a broad range of industrial end markets, including cement, steel, renewables, chemicals, mining, pulp and paper, and refining. Terra Millennium operates from a network of 33 offices across the country.
The press release reports that Bryan Young, Terra Millennium’s CEO, and the executive team will continue to lead the company and remain as significant shareholders. Executive Chairman Mark Stutzman will continue as a non-executive board member and significant shareholder.
Fusion Acquires Advanced Communications Groups Inc.
Fusion BPO Services, a Draper, Utah-based company, recently acquired Advanced Communications Groups, Inc.
According to the press release, this acquisition will help Fusion strengthen its presence in the United States while also extending its global outreach. Fusion also aims to bring its wide range of diversified contact center solutions in 40+ languages and personalized inbound and outbound call center services to the existing customers of ACG.