2024 Dealmakers of the Year Honorees

Presented By: Brown & Brown

 

Katie Dorn
Co-Founder & CEO
EmpowerU

EmpowerU is a tech-enabled platform that delivers mental health and resilience programs for students through a combination of personalized skill-building content and one-on-one coaching.

• EmpowerU was acquired by FullBloom on September 13, 2023, with backing from American Securities through a leveraged buyout (LBO). This acquisition is part of FullBloom’s strategy to expand its range of student support services, addressing mental health and behavioral challenges faced by students across the U.S.
• The integration of EmpowerU’s proprietary, data-driven platform into FullBloom’s existing services aims to improve student motivation, behaviors, and academic outcomes by providing evidence-based support to educators and schools​.
• Prior to the acquisition, EmpowerU secured venture funding in May 2023 to enhance its offerings, further demonstrating the market demand for innovative mental health solutions in education.
• Katie, a licensed school counselor and marriage and family therapist, built EmpowerU with a mission to transform how schools deliver mental health support, helping thousands of students and educators across the country. Her leadership has been key in scaling the platform’s reach and impact, making it a valuable addition to FullBloom’s portfolio of services.
• EmpowerU’s programs continue to address the critical need for mental health support in schools, particularly in a post-pandemic world where non-academic barriers to learning remain a significant challenge​.
  More information can be found at EmpowerU.

 

   

Danny Fox
Principal
Norwest Equity Partners

Tim Kuehl
Partner
Norwest Equity Partners

Robert Marko
President & CEO
Bailiwick Services

Bailiwick Services, a leading IT integration and managed services provider, was acquired by ePlus Technology, a subsidiary of ePlus Inc., on August 19, 2024, for an undisclosed amount.

• Norwest Equity Partners (NEP), represented by Danny Fox and Tim Kuehl, played a pivotal role in guiding Bailiwick through the transaction. Danny led new investment processes and portfolio governance, while Tim focused on strategic growth and value creation throughout Bailiwick’s partnership with NEP.
• Under Robert Marko’s leadership, Bailiwick grew significantly, focusing on technologies like AI, digital signage, and electric vehicle charging, enhancing operations for clients in retail, financial services, and hospitality. Bob’s strategic direction positioned Bailiwick for acquisition, making it an attractive partner for ePlus.
• The acquisition aligns with ePlus’s strategy to expand its services portfolio, offering enhanced IT solutions and digital transformation capabilities to a wider range of clients. Through the integration, Bailiwick’s expertise in managed services and deployment complements ePlus’s focus on advanced IT and edge computing solutions, strengthening their combined market presence.
• The deal is expected to unlock new opportunities for both companies, providing a broader suite of services and expanding their footprint across North America. More information can be found at ePlus.

 

   

Susan Gohman
Meghan Otis
Adam Pollet
Founding Partners
Lightspring Capital Partners

Lightspring Capital Partners is a private equity firm focused on buyouts in the lower middle market, with a commitment to supporting diverse leadership within its portfolio companies.

• Between September 2022 and September 2024, Lightspring Capital made five platform investments across various sectors, emphasizing their strategic approach to scaling businesses in niche markets. Key acquisitions include Devansoy (Rock City, IL) in September 2022, known for its plant-based protein ingredients, and The Great Lakes Potato Chip Company (Traverse City, MI) in December 2022, a popular regional brand known for its kettle-cooked chips​.
• Meghan Otis and Susan Gohman played key roles in structuring these transactions, focusing on leveraging equity and mezzanine capital to drive growth, while Adam Pollet led deal sourcing and execution efforts, ensuring successful integration of each acquisition into the firm’s portfolio.
• Their investment in BedJet, LLC (Newport, RI) in January 2024, a sleep technology company, has allowed the brand to expand its reach, while the acquisition of AstreaX (Scottsdale, AZ) in June 2024 has strengthened Lightspring's presence in the aerospace sector.
• The firm’s commitment to backing companies with diverse leadership has positioned Lightspring as a key player in the investment landscape, particularly for businesses seeking growth support with a values-driven approach.
  More information can be found at Lightspring Capital Partners.

 

 

Mary Grove
Managing Partner
Bread & Butter Ventures

Bread & Butter Ventures is an early-stage venture capital firm based in Minneapolis, investing in high-growth sectors like digital health, food innovation, and enterprise SaaS.

• Mary Grove has played a key role in leading Bread & Butter’s investment strategy, deploying capital from its $27 million third fund raised in 2023. This fund aims to support early-stage companies in the U.S. and beyond, focusing on startups seeking to raise around $3 million or less.
• Under her leadership, the firm made several significant investments between September 2022 and September 2024, including a $3 million pre-seed round in Ducky in May 2024, a startup using generative AI to revolutionize customer support. Additionally, Chiyo received $3 million in March 2024 to expand its digital healthcare platform.
• Bread & Butter Ventures has also been active in fostering diversity in its portfolio, with over 60% of investments directed toward companies led by women or founders from underrepresented backgrounds. This aligns with Mary’s commitment to creating a more inclusive startup ecosystem.
• Mary’s strategic vision extends beyond capital, as she helps connect portfolio companies with the Bread & Butter Innovation Circle, a network of Fortune 500 companies that supports startups through strategic partnerships and growth opportunities.
  More information can be found at Bread & Butter Ventures.

 

Tom Mingo
Founding Partner
ArchStar Capital

ArchStar Capital is a private equity firm focused on investing in lower middle-market businesses, with a particular emphasis on value-added distribution, manufacturing, and business services.

• Founded in early 2023, ArchStar Capital has completed three acquisitions within its first 18 months. Key deals include the acquisition of Tess Oral Health in May 2024, a leading manufacturer of custom-imprinted toothbrushes and dental products based in Eau Claire, WI. This investment aims to enhance Tess’s growth by leveraging ArchStar’s operational expertise and strategic resources​.
• Additionally, ArchStar acquired Attic Breeze, a Gatesville, TX-based manufacturer of solar-powered attic fans, in June 2024, aiming to expand its footprint in the sustainable home products sector. This deal aligns with ArchStar’s mission to partner with businesses that have a strong growth potential and a proven market niche​.
• Tom Mingo has played a pivotal role in shaping these transactions, focusing on creating value and supporting the growth of each portfolio company. His experience as a former business owner brings a unique perspective to ArchStar's investment approach, making the firm an attractive partner for founder-led businesses.
• ArchStar’s strategic focus and rapid pace of investments underscore its growing influence in the private equity landscape.
  More information can be found at ArchStar Capital.

 

   

Mickayla Rosard
Partner
Groove Capital

Reed Robinson
Founder & Partner
Groove Capital

Groove Capital is an early-stage venture capital firm and angel network focused on investing in Minnesota startups across high-growth industries like digital health, SaaS, and food tech.

• The firm closed its second venture fund in 2023, raising $15.5 million, which has allowed them to support dozens of startups in the state​. Groove Capital’s investment strategy combines the power of an active angel network with institutional venture capital, providing startups with crucial early-stage capital.
• Over the past two years, Groove has invested $5.89 million into 55 companies, including notable investments in Paul-based Agitated Solutions and Eden Prairie’s Itiliti Health, a digital health platform focused on reducing healthcare costs​.
• In addition to the venture fund investments, Groove’s angel network has written over 150 checks, contributing $1.71 million in additional capital to early-stage companies. These investments have helped Minnesota’s startup community grow and thrive, with a focus on building a more inclusive ecosystem.
• Mickayla Rosard has played a key role in expanding the angel network, particularly by engaging more women and underrepresented investors, while Reed Robinson has leveraged his experience from building the Twin Cities startup community to guide Groove’s investment strategy.
  More information can be found at Groove Capital.