Wednesday, May 22, 2024 May 22, 2024
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Dallas-based Bioworld, Tango, and Tubbesing Make Acquisitions

Bioworld acquires Portland Accessories; Tubbesing acquires Digitech Sales; Tango acquires SaaS provider WatchWire; and Zirtue partners with TruStage.

Dallas-based fashion manufacturer and distributor Bioworld has acquired Portland Accessories, a designer and licensee of headwear for global, sports, and lifestyle brands.

“Our global capabilities will rapidly expand the product offerings and distribution reach of Portland Accessories,” said Raj Malik, Bioworld CEO. “Our scale will provide our brand and retail partners new levels of innovation, support, and service. We are thrilled to partner with Portland and license some of the world’s most iconic brands to scale and grow in a rapidly expanding global market.” 

The acquisition expands Bioworld’s sporting goods market share and athletic wear licensing capabilities. “Bioworld’s global infrastructure streamlines the entire production process from brand management and product development to manufacturing, supply-chain distribution, and sales,” Portland Accessories CEO and Managing Director Mike Caster said. “This supports our brand and retail partner’s aggressive growth plans.  We could not have picked a better partner.”   

Real estate and facilities management software Tango acquires sustainability and energy management SaaS provider WatchWire. 

The combined business will serve over 500 customers in more than 140 countries, from its primary offices in Dallas and New York. WatchWire’s leadership team will join Tango as part of the private transaction. Financial terms were not disclosed.

Tango’s cloud-based software features transaction management, lease management, and facilities maintenance. With WatchWire’s analytics on how companies can reduce emissions and energy expenses, the business aims to help customers meet and comply with energy management and sustainability goals across the real estate lifecycle.

“Faced with a rapidly changing macro and regulatory environment, active sustainability and energy management has become essential to long-term organizational success,” says Pranav Tyagi, president and chief executive officer of Tango. “Tango has a longstanding reputation for solving the complex, location-based compliance and reporting needs of our customers, as well as helping companies effectively manage and control occupancy costs. With the addition of WatchWire, we will provide customers information that arms them to understand their environmental impact and deliver on energy and sustainability management initiatives.” 

Tango’s newest expansion in the management space follows its 2022 acquisitions of workplace reservation platforms AgilQuest and Billie. It has worked with more than 1000 leading brands, and its current global client base includes companies with a few dozen locations to large global brands with more than 40,000 locations.

Founded in 2000 in New York City, WatchWire has $3 billion in annual energy and water spending and more than 19,000 buildings encompassing more than 1 billion square feet of real estate under management. 

Dallas-based infrastructure services provider Tubbesing acquires Digitech Sales to expand in Southwest.

Tubbesing, which offers product selection, critical equipment service warranties, field service, and equipment monitoring to data centers, hospitals, government sites, factories, and more, now looks to grow its presence in Texas and Oklahoma with more than 60 representatives.

The acquisition will also allow Tubbesing to partner with brands represented by Digitech, like Belden, a global supplier of network infrastructure and digitization solutions. 

“This merger allows us to expand our solutions for customers,” says Aaron Casey, president of sales and service for Tubbesing. “Combining our strengths and expertise allows us to be more accessible to more people and makes us a valuable asset in the new smart buildings market.”  

Founded in 1983 to provide 100 percent infrastructure uptime to its customers, Tubbesing has five offices across Dallas, Houston, Austin, Oklahoma, and Arkansas.

Founded in 2008 and based in Austin, Digitech Sales currently features eight companies in its product offering portfolio. It serves various top growth verticals, including industrial manufacturing, commercial real estate, higher education, K-12, healthcare, and data center markets. 

Dallas-based lending app Zirtue partners with TruStage for new insurance program 

With TruStage’s Payment Guard Insurance, Zirtue will pay and provide insurance for eligible loans. Users with active loans who’ve experienced an unexpected covered job loss or disability can file a claim through the app at no additional cost. If approved, they’ll receive funds directly into their account, helping them prevent their loans from defaulting.

The partnership comes at a time when, according to Gallup, 61 percent of Americans say recent price increases have caused financial hardship for their household, and nearly half of American adults have less or no savings compared to a year ago, according to a Bankrate survey. 

“Especially in the current environment of high inflation and tighter financial conditions, lenders need to feel confident since more borrowers may turn to friends, family, and trusted relationships during these financially challenging times,” said Dennis Cail, co-founder and CEO of Zirtue. “With friends and family being one of the largest banks in the world, our goal is to help offer relationship-based lenders the peace of mind they deserve, and our partnership with TruStage allows us to help provide an innovative solution that could act as a safety net for our lenders, underscoring our commitment to driving financial security and inclusion.”  

Zirtue has raised $6.6 million in venture capital funding and more than $50 million in loans for bills. TruStage, formally known as CUNA Mutual Group, has protected 37 million consumers, paid $2 billion in total benefits, and currently manages $32 billion in assets. 


<strong>Garrett Tarango</strong>

Garrett Tarango

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