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Wrap Up

First Half of 2014 Best for M&A in 3 Years
Positive predictions for 2014 are coming true, with the first six months of the year generating more deals than the same periods in 2012 and 2013

People Moves of the Week

BTIG, D.A. Davidson, KeyBanc
BTIG taps two former Lazard execs; D.A. Davidson launches real estate team; KeyBanc drafts Anne-Marie Peterson to the firm's leveraged finance team

REAL ESTATE

BET Founder Continues Picking Up Hotels
RLJ Lodging, founded by Robert L. Johnson, recently paid about $50M for an Atlanta Hyatt

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Fund of Funds, Lender

ESOP, Recapitalization

Agriculture, Natural Resources

New York, Hong Kong

Northeast US, Asia/Pacific

United States, Canada

 

People Database

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Sylvie Gadant

Partner

Firm: Citrin Cooperman

In the news: People Moves of the Week: Barclays, Bryan Cave, Mayer Brown

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Mergers & Acquisitions, Latest News

KKR Invests in Preferred Sands As Part of a Restructuring

– The PE firm is providing debt and equity of more than $680 million

The Weekly Wrap: AK Steel,Yahoo, BBX Sweet

– AK Steel buys Severstal Dearborn; Yahoo acquires Flurry; BBX Sweet picks up Helen Grace Chocolates

Latest PE Fundraising Efforts

– See which private equity firms have been raising capital, including Guardian Capital Partners and Bison Capital Partners

Colorado-based Buzznbrewz Gets Sold to Solanbridge

– The deal comes just months after Colorado began allowing the sale of recreational marijuana

As Car Sales Climb, Markel Invests in Hauler

– Cottrell Inc. marks the first investment for the holding company since Eagle Construction

Obama Says Tax Law Needs to Stop “Corporate Deserters”

– About 41 U.S. companies have switched their addresses to low-tax nations such as Ireland since 1982, often through buying a smaller company

Single Touch to Deliver More Ads to Walmart and RadioShack through Double Vision Deal

– The news comes as the ad service elects former AT&T president Betsy Bernard to the company's board

Promising Companies Compete for Capital at AM&AA Piranha Pool

– CJ Cloud, Maritime Capital Management Partners and Rail Forge presented to a private equity panel at the organization’s first Piranha Pool, an event modeled after ABC’s Shark Tank

PTC Pushes Into Cloud Computing

– The purchase of Axeda comes amid a robust M&A market for tech companies

Paris Private Equity Firm Ardian Picks Up German Cosmetics Company from Carlyle

– The Paris private equity firm founded by Dominique Senequier has made 8 investments from its third fund, which closed in March

Asset Manager Legg Mason Expands in U.K. with Martin Currie

– The acquisition comes just weeks after the Baltimore firm unveiled another purchase, as well as a divestiture

ESOP Candidates Consider Strategic Buyers

– An Employee Stock Ownership Plan works for the most altruistic of sellers, while having a strategic buyer leads to a higher valuation, says Lincoln International's Robert Brown and other experts at AM&AA Summer Conference

Ex-Carlyle Distressed Heads Said to Seek $1 Billion for Own Fund

– Ray Whiteman of fledgling group Stellex Capital is leading a fund raise, along with Staple Street Capital and Huntsman-Lion Capital Partners

Pamlico Invests in DayNine Consulting

– The deal comes on the heels of Pamlico's purchasing of Wow! Internet Cable & Phone assets

Siris Seals $250M Deal for Junos Pulse

– The seller, Juniper Networks, is selling the assets to focus more on cloud computing

Due Diligence: 7 Tips

– Come clean about potential problems, says Sid Shaver of Statesman Corporate Finance, and other experts at AM&AA Summer Conference

SanDisk Secures Deal for Fusion-io

– Once high-flying Fusion-io, which boasts Apple co-founder Steve Wozniak as chief scientist, has struggled in recent years

Sullivan & Cromwell Has ‘Unusual’ CIT Deal Role

– Wachtell Lipton Rosen & Katz represented commercial lender CIT while Cleary Gottlieb Steen & Hamilton represented OneWest, but Sullivan & Cromwell provided additional regulatory counsel for both parties

Yahoo Adds Another Startup

– Flurry is one of dozens of young companies Yahoo has snatched up over the last few years under the helm of CEO Marissa Mayer

Distressed Company Watch List

– See which companies have recently indicated doubt about continuing as going concerns in SEC filings, including Epazz, Jammin' Java and Zinco Do Brasil

After Weeks of Rumors, Altisource Is Buying Mortgage Builder

– Mortgage Builder CEO Keven Smith said he had been open to M&A as a means of growing the company's fulfillment services to the mortgage and real estate industries

John Thain’s CIT Agrees to Acquire OneWest Bank for $3.4B

– The former Merrill Lynch chair — hired by CIT to lead a turnaround in 2009 — now has about $2 billion in excess capital, exceeding what regulators say is needed to cushion against potential losses

Turnaround Tuesday: Struggling Drug Developer Zogenix Wins Massachusetts Lawsuit

– The company won the right to sell painkiller Zohydro in Massachusetts, and plans to develop an abuse-deterrent variation of the drug

Lower Middle-Market Dealmakers Flock to Chicago for AM&AA Summer Conference

– Highlights include keynote speeches from Jones Day's Andrew Sherman and CohnReznik's Patrick O'Keefe and a Chicago Cubs game at Wrigley Field

Cardtronics Continues Buying Spree With Welch ATM

– The deal comes on the heels of eGlobal's acquiring the assets of ATM service The Best There Is Inc.

ACI Purchases ReD to Meet Web Security Needs

– Consolidation in the fraud prevention market is expected to continue

E&Y Scoops Up Strategy Consulting Firm

– The purchase of Parthenon Group comes as dealmakers expect M&A to grow in the financial services sector

People Moves of the Week: BTIG, D.A. Davidson, KeyBanc

– BTIG taps two former Lazard execs; D.A. Davidson launches real estate team; KeyBanc drafts Anne-Marie Peterson to the firm's leveraged finance team

AK Steel and Steel Dynamics Pick Up Severstal's U.S. Operations

– The deal comes as Ford and other automakers replace steel with light-weight, fuel-efficient aluminum

CBS Outdoor to Buy Billboards From Van Wagner for $690 Million

– The buyer intends to roll up smaller billboard companies as it competes with Lamar Advertising and Clear Channel Outdoor Holdings

5 Technologies Drive Health Care M&A

– A wave of consolidation is being spurred by innovations including specialized software, says GE’s Mike Jackman

4 Companies For Sale

– See which companies have recently hit the auction block, including Leggett & Platt Inc. and MSC Software Corp.

Forbes Magazine Sells Controlling Stake to Hong Kong-Based Group

– Steve Forbes, the head of the family and a two-time U.S. presidential candidate, put the magazine’s parent company up for sale following years of dwindling profits

Twitter Adds Payments Service in On-Going Quest to Increase Revenues

– Nathan Hubbard, the micro-blogging site's head of commerce, helms deal with CardSpring in Twitter's latest attempt to leverage in-tweet shopping

AbbVie to Buy Shire for $54.8 Billion in Tax Inversion

– AbbVie becomes the latest U.S. health company to move abroad amid a record surge in industry deals