Earnings

Micro-Cap Deals Roundup for Week of Oct. 26, 2026

The Tip Desk · November 1, 2026 · 4 min read

Francisco Partners completed its approximately $650 million cash acquisition of Weave, while Mistras’ $20.35-per-share agreement with H.I.G. passed its go-shop deadline without an alternative acquisition proposal.

Weave’s acquisition reached completion during the week, while Mistras’ agreement advanced through a solicitation milestone. Francisco Partners completed its all-cash purchase of Weave in a transaction valued at approximately $650 million. Weave stockholders will receive $7.40 per share under the merger agreement, a premium of approximately 34% to the company’s unaffected August 17 closing price. Weave’s shares ceased trading and were removed from the New York Stock Exchange. The healthcare patient engagement and payments company continues as a privately held business headquartered in Lehi, Utah.

Mistras’ acquisition by H.I.G. affiliates remained subject to stockholder approval, required regulatory approvals and other customary closing conditions. Its 40-day go-shop period expired on October 27 without an alternative acquisition proposal. Adviser Baird contacted, or received contact from, 122 potential bidders, and Mistras signed confidentiality agreements with 40 parties. The existing agreement provides $20.35 in cash per common share and an enterprise value of approximately $866 million, including outstanding debt. Customary no-shop restrictions now apply, subject to specified exceptions, including fiduciary-out provisions.

Stock-and-cash agreements and a completed bank merger

Ares Capital signed a definitive agreement to acquire MidCap Financial Investment in a stock-and-cash transaction with an enterprise value of approximately $2.6 billion. The announced consideration totals $10.88 per fully diluted MFIC share: approximately $1.21 in cash from an Ares Management subsidiary and approximately $9.67 in Ares Capital shares, subject to the special-dividend adjustment. MFIC said it expects to distribute its remaining undistributed taxable income before closing; the stock consideration would decrease dollar for dollar for that dividend. Both companies’ boards unanimously approved the agreement.

First Mid Bancshares’ signed agreement for Evergreen Bancshares sets a different consideration formula: 0.4081 First Mid shares plus $5.20 cash for each Evergreen share. Aggregate consideration was approximately $70.7 million using First Mid’s October 27 closing price of $51.01, subject to conditions and adjustments. The agreement covers all outstanding Evergreen shares. Evergreen’s American Bank of Freedom operated 10 banking centers and had approximately $932 million in assets, $712 million in loans and $727 million in deposits at September 30.

Peoples Bancorp completed its acquisition of Citizens National Corporation at the close of business on October 30. Citizens shareholders received 2.10 Peoples shares plus $8 cash for each share. The completed transaction also merged Citizens Bank of Kentucky into Peoples Bank, with Citizens’ 12 branches initially operating as a division of Peoples Bank. At September 30, Citizens had approximately $646 million in assets, $344 million in loans and $551 million in deposits.

A cash sale and payments tied to mortgage originations

Boston Omaha completed the sale of its surety insurance business, General Indemnity Group, to CopperPoint Insurance Company. CopperPoint acquired all outstanding GIG equity interests in an all-cash transaction with a gross sales price of $84,308,757. Boston Omaha retained 2,673,831 Sky Harbour Class A shares previously contributed to UCS, along with a final $326,371 cash dividend from GIG. The sale terms remained unchanged from the parties’ May 18 agreement.

Northpointe Bancshares signed a purchase and lease assumption agreement with CMG Mortgage covering its distributed retail and consumer direct mortgage origination channels. Consideration is linked to subsequent activity: CMG will pay Northpointe 15 basis points, or 0.15%, on first-lien mortgage originations closed through those channels through December 31, 2028. CMG will also assume associated leases where possible. The agreement contains customary closing conditions and termination rights; Northpointe said it expects completion by November 30, 2026.

Operating assets and a distribution platform change hands

L.B. Foster’s CXT subsidiary completed its acquisition of substantially all Dulworth Enterprises operating assets on October 28. The approximately $52.2 million cash purchase is subject to customary indemnification holdbacks. Dulworth, headquartered in Rice, Texas, specializes in residential wastewater precast products and Aeris aerobic treatment systems. The completed transfer covers operating assets under an asset purchase agreement.

Distribution Solutions Group completed its previously announced acquisition of GradeEight Holdings on October 26. GradeEight operates a maintenance, repair and operations distribution platform through Winzer’s national franchise network and FastServ Supply storefronts across Texas and Arkansas. The acquired business has approximately 190 associates and 270 franchisees, supplying products including fasteners, electrical supplies, chemicals, safety supplies, cutting tools and hydraulics.