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The Weekly Wrap: KRG, Mid-Con, Spotify

KRG-backed Trafficware bought PSI; Mid-Con acquired oil and gas assets; Spotify added Echo Nest

TargetAcquirerValue ($millions)Synopsis
Safeway Inc AB Acquisition LLC 8,453.7 AB Acquisition LLC, a special purpose acquisition vehicle created by Cerberus Capital Management LP (Cerberus), Kimco Realty Corp, Klaff Realty LP, Lubert- Adler Partners Real Estate Funds, and Schottenstein Stores Corp, definitively agreed to acquire the entire share capital of Safeway Inc (Safeway), a Pleasanton-based owner and operator of grocery stores, for $32.5 in cash per share, or a total value of $8.454 bil, including $886.655 million in contingent value right, in a leveraged buyout transaction. Concurrently, Safeway planned to spin off its 72.2% interest, or 37.8 million shares, in its Blackhawk Network Holdings Inc unit, and announced that it was seeking a buyer for its Property Development Centers LLC unit, and 49% interest in Casa Ley SA de CV. Originally, in February 2014, Safeway was rumored to be seeking a buyer for the company. Cerberus was named potential bidder.
Philadelphia Gas Works UIL Holdings Corp 1,860.0 UIL Holdings Corp definitively agreed to acquire Philadelphia Gas Works (Philadelphia Gas), a Philadelphia-based natural gas utility, from state-owned City of Philadelphia for $1.86 billion in cash. Originally, In November 2012, Philadelphia City announced that it was seeking a buyer of its Philadelphia Gas unit.
Apartments.com CoStar Group Inc 585.0 CoStar Group Inc agreed to acquire Apartments.com, a Chicago-based provider of online apartment guide and relocation services, from Classified Ventures LLC, a joint venture among Belo Corp, Gannett Co Inc, Knight Ridder, McClatchy Co, Tribune Co and Graham Holdings Co, for $585 million in cash.
Vornado Realty Trust-Town Ctr Pennsylvania Re Invest Trust 465.0 Pennsylvania Real Estate Investment Trust agreed to acquire the Springfield Town Center from Vornado Realty Trust, a New York-based real estate investment trust, for $465 million.
Simpson Tacoma-Paper Mill Rock-Tenn Co 343.0 Rock-Tenn Co agreed to acquire the paper mill of Simpson Tacoma Kraft Co LLC, a Tacoma-based manufacturer of bleached and unbleached kraft pulp and linerboard, and a unit of Simpson Lumber Co LLC, for an estimated $343 million.
Conseco Life Insurance Co Wilton Reassurance Co Inc 237.0 Wilton Reassurance Co Inc, a unit of Wilton Re Holdings Ltd, definitively agreed to acquire Conseco Life Insurance Co, a Carmel-based provider of life and health insurance and annuity products, from CNO Financial Group Inc, for an estimated $237 million.
Interplex Industries Inc Amtek Engineering Ltd 210.0 Amtek Engineering Ltd of Singapore agreed to merge with Interplex Industries Inc, a College Point-based manufacturer of metal stampings, for $210 million. The consideration was to consist of $176 million in cash plus $34 million in profit-related payments.
QRE GP LLC QR Energy LP 203.5 QR Energy LP (QR) agreed to acquire the entire share capital of QRE GP LLC, a Houston-based oil and gas exploration and production company, in exchange for 11.6 million Class B convertible units valued at $203.464 mil, in a stock swap transaction. The shares were valued based on QR's closing stock price of $17.54 on 28 February 2014, the last full trading day prior to the announcement.
Aston Waikiki Beach Hotel,Honolulu Inland American Lodging Group 183.0 Inland American Lodging Group Inc, a wholly-owned unit of The Inland Real Estate Group of Cos Inc's Inland American Real Estate Trust Inc subsidiary, acquired Aston Waikiki Beach Hotel, a Honolulu-based owner and operator of a hotel, from Aston Hotels & Resorts LLC, for an estimated $183 million.
222 Main,Salt Lake City,Utah 222 Main,Salt Lake City,Utah 170.5 KBS Real Estate Investment Trust III Inc acquired 222 Main, a Salt Lake City-based owner and operator of office building, for $170.5 million.
Centrix Bank & Trust Eastern Bank Corp,MA 116.1 Eastern Bank Corp definitively agreed to acquire the entire share capital of Centrix Bank & Trust, a Bedford-based commercial bank, for $41 in cash per share, or a total value of $116.112 million.
HCCS HealthStream Inc 79.8 HealthStream Inc acquired the entire share capital of Health Care Compliance Strategies Inc, a Jericho-based provider of online training courses and learning management systems, in a stock swap transaction valued at an estimated $79. 822. The consideration was to consist of $13 million in cash, $.750 million profit-related payments and the issuance of 2,400,000 common shares valued at $66.072 million. The shares were valued based on HealthStreams closing stock price of $27.53 on 03 March 2014, the last full trading day prior to the announcement.
Sport Truck USA Inc-Assets ST USA Holding Corp 73.2 ST USA Holding Corp, a unit of Fox Factory Holding Corp unit of Compass Group Diversified Holdings' Compass Group Diversified Holdings LLC unit, definitively agreed to acquire the assets of Sport Truck USA Inc, a Coldwater-based wholesaler of lift suspension products, for $73.152 million. The consideration was to consist of $43.857 million and up to $29.295 million in profit- related payments.
KnowledgeAdvisors Inc Corporate Executive Board Co 52.0 The Corporate Executive Board Co acquired KnowledgeAdvisors Inc, a Chicago-based developer of analytics software, for an estimated $52 million.
Thermal Product Solutions Resilience Capital Partners 43.0 Resilience Capital Partners LLC acquired Thermal Product Solutions, a White Deer-based manufacturer and wholesaler of thermal processing and testing products, for $43 million in cash, from SPX Corp, in a leveraged buyout transaction.
Mid-Con Energy-Oil Ppty Mid-Con Energy Properties LLC 41.0 Mid-Con Energy Properties LLC, a wholly-owned unit of Mid-Con Energy Partners LP, acquired certain oil properties located in Oklahoma and Texas from Mid- Con Energy III LLC, a Tulsa-based oil and gas exploration and production company, for an estimated $34 million.
Cellular Specialties Inc Westell Technologies Inc 39.0 Westell Technologies Inc acquired Cellular Specialties Inc, a Manchester-based manufacturer of wireless communication equipment, for $39 million in cash.
Arch-Hazard Thermal Coal Blackhawk Mining LLC 26.3 Blackhawk Mining LLC acquired Hazard thermal coal mining complex from Arch Coal Inc, a St Louis-based coal mining company for $26.3. million in cash.
Nave Communications Co ADDvantage Tech Group Inc 13.1 ADDvantage Technologies Group Inc acquired Nave Communications Co, a Jessup-based provider of telecommunication services, for $13.1 million. The consideration consisted of $13.1 million and an undisclosed amount in profit- related payments.
Sabine Inc ClearOne Inc 10.3 ClearOne Inc (ClearOne) acquired Sabine Inc, an Alachua-based manufacturer of audio equipment, for an estimated $10.25 million. The consideration consisted of an estimated $7.5 million in cash, $1.5 million in ClearOne common shares, the assumption of $1.25 million in liabilities, and up to an undisclosed amount in profit- related payments.
Bank of Commerce,Charlotte,NC Hometrust Bancshares Inc 10.1 Hometrust Bancshares Inc definitively agreed to acquire the entire share capital of Bank of Commerce, a Charlotte-based commercial bank, for $6.25 in cash per share or a total value of $10.1 million.
Freedom Commun-Newspapers(6) New Media Investment Group Inc 8.0 New Media Investment Group Inc acquired six newspapers from Freedom Communications Inc, a Santa Ana-based publisher of newspaper, and a unit of AIM Media Texas LLC, for $8 million.
Axis Appraisal Mgmt Solutions Zaio Corp 7.7 Zaio Corp of Canada signed a letter of intent to acquire Axis Appraisal Management Solutions Inc, a San Rafael-based appraisal management company, for $7.670 million. The consideration was to consist of $3.250 million in cash plus 17 million common shares with a total value of $4.420 million. The shares were valued based on Zaio Corps closing stock price of $0.26 on 28 February 2014, the last full trading day prior to the announcement.
Provident Comnty Bancshares Park Sterling Bank 6.5 Park Sterling Corp definitively agreed to acquire the entire share capital of Rock Hill-based Provident Community Bancshares Inc, for $0.78 in cash per share, and $550 in cash per Series A preferred share, or a total value of $6.492 million.
Pyramid Porphyry Project Full Metal Minerals Ltd 5.5 Full Metal Minerals Ltd of Canada agreed to acquire the remaining 51% interest, which it did not already own, in the Pyramid Copper-Gold- Molybdenum Porphyry Project of Antofagasta Minerals SA, for $5.5 million in cash.
Castleton Technology PLC-QAD Glantus Ltd 0.3 Glantus Ltd of the UK acquired the QAD software consultancy business of Castleton Technology PLC, a Cambridge-based provider of information technology services, for $0.335 million in cash.
Patriot Energy Resources LLC High Plains Gas Inc 0.1 High Plains Gas Inc definitively agreed to acquire Patriot Energy Resources LLC, a natural gas exploration and production company, from Bankrupt Luca Technologies Inc, for the assumption of $0.145 million in liabilities. The transaction was to include Patriot Energy Gathering LLC.
Skytanking USA Inc Aircraft Service Intl Group Aircraft Service International Group, a unit of BBA Aviation PLC, agreed to acquire Syktanking USA Inc, a Fort Lauderdale-based wholesaler of petroleum products.
Welding & Therapy Service Inc Airgas Inc Airgas Inc acquired Welding & Therapy Service Inc, a Louisville-based wholesaler of industrial and medical gas and welding supply. Terms are not disclosed.
Horizontal Wireline Services Allied Wireline Services LLC Allied Wireline Services LLC acquired Horizontal Wireline Services LLC, a provider of well drilling services.
SK3 Group Inc Alternative Energy Partners Alternative Energy Partners Inc agreed to acquire the entire share capital of SK3 Group Inc, a Burbank-based provider of health care services, from Healthcare Today Inc, a unit of Lin-Han Equity Corp.
TopSpin Media Inc Beats Music LLC Beats Music LLC, a unit of Beats Electronics LLC, agreed to acquire TopSpin Media Inc, a Santa Monica-based provider of sales and marketing software. Terms of the transaction were not disclosed.
Catalina Marketing Corp Berkshire Partners LLC Berkshire Partners LLC definitively agreed to acquire an undisclosed majority interest in Catalina Marketing Corp, a Saint Petersburg-based provider of marketing consulting services, from Hellman & Friedman Capital Partners VI LP, a unit of Hellman & Friedman LLC, in a secondary buyout transaction. Previously, Hellman & Friedman Capital Partners VI LP acquired Catalina Marketing Corp in an institutional buyout transaction. Originally, in January 2014, Hellman & Friedman Capital Partners VI LP was rumored to be seeking a buyer for its Catalina Marketing Corp unit.
MBM Advisors Inc BOK Financial Corp BOK Financial Corp agreed to acquire MBM Advisors Inc, a Houston-based provider of investment advisory services. Terms were not disclosed.
Caesars Ent Corp-Properties Caesars Growth Partners LLC Caesars Growth Partners LLC, a joint venture between Caesars Entertainment Corp (CEC) and Caesars Acquisition Co, definitively agreed to acquire the Bally's Las Vegas, The Cromwell, The Quad and Harrah's New Orleans, from CEC, and a unit of Hamlet Holdings LLC.
OnCourse Learning Corp CIP Capital CIP Capital (CIP), a unit of Compass Advisers Group LLC, acquired an undisclosed majority interest in OnCourse Learning Corp (OnCourse), a Waukesha-based provider of professional training services, from Riverside Co (Riverside), in a leveraged buyout transaction. Terms were not disclosed. Originally, in February 2014, Riverside announced that it was seeking a buyer for OnCourse. CIP was named rumored potential bidder.
Prestonwood Country Club ClubCorp Holdings Inc ClubCorp Holdings Inc, a unit of KSL Capital Partners LLC, acquired Prestonwood Country Club, a Cary-based owner and operator of a country club.
FreeWheel Media Inc Comcast Corp Comcast Corp (Comcast) acquired FreeWheel Media Inc, a San Mateo-based provider of online video advertising services. Terms were not disclosed but, according to people familiar with the transaction, the deal was valued at an estimated $320 million. Originally, Comcast was rumored to be planning to acquire FreeWheel Media Inc.
Ida Tunnell Insurance Confie Seguros Inc Confie Seguros Inc, a unit of ABRY Partners LLC acquired Ida Tunnell Insurance, a Texas-based provider of personal lines auto and homeowners insurance.
Nationwide Screening Services Corporate Resource Services Corporate Resources Services Inc acquired Nationwide Screening Services, a Melville-based provider of employment background and screening solutions.
Brown Palace Hotel Crow Holdings Realty VI LP Crow Holdings Realty VI LP, a unit of Crow Holdings Capital Partners LLC, acquired Brown Palace Hotel, a Denver-based owner and operator of a hotel. Terms were not disclosed. The transaction included Brown Palace Hotel & Spa and Comfort Inn Downtown Denver.
Intific Inc Cubic Corp Cubic Corp acquired Intific Inc, a Peckville-based developer of software and game-based solutions. Terms were not disclosed.
Astellas Pharma US-Vaprisol Cumberland Pharmaceuticals Inc Cumberland Pharmaceuticals Inc acquired the Vaprisol of Astellas Pharma US LLC, a Northbrook-based manufacturer of pharmaceuticals and a unit of Astellas Pharma Inc.
Innovative Security Designs Digital Watchdog Digital Watchdog agreed to acquire Innovative Security Designs Inc, an Irvine-based provider of IP-based surveillance solutions.
Port Logistics Group Endeavour Capital Inc Endeavour Capital Inc acquired Port Logistics Group, a Houston-based provider of gateway logistics services, in a leveraged buyout transaction.
Titan Aerospace Facebook Inc Facebook Inc was rumored to be acquiring Titan Aerospace, a Moriarty-based manufacturer of solar-powered drones. Terms were not disclosed but according to sources familiar with the transaction, the transaction has a value of $60 million.
Advanced Control Systems Inc Falfurrias Capital Partners Falfurrias Capital Partners LLC, acquired Advanced Control Systems Inc, a Norcross-based provider of smart grid solutions from Efacec Capital SGPS SA, in a leveraged buyout transaction. Terms were not disclosed.
Zite Flipboard Inc Flipboard Inc acquired Zite, a unit of Time Warner Incs Cable News Network Inc, a San Francisco-based provider of magazine software services.
First National Administrators FNA Insurance Services Inc FNA Insurance Services Inc, a unit of Hellman & Friedman LLC's Hub International Ltd subsidiary, acquired First National Administrators Group of Cos, a New Hyde Park-based employee benefits general insurance agency. Terms of the deal were not disclosed.
Glad to Have You Inc HomeAway Inc HomeAway Inc acquired Glad to Have You Inc, a Santa Rosa Beach-based developer of mobile application software for property managers and homeowners.
Corporate Benefit Consultants Hub International Midwest Ltd Hub International Midwest Ltd, a unit of Hellman & Friedman LLC's Hub International Ltd unit, acquired Corporate Benefit Consultants Inc, a Des Plaines-based provider of employee benefit consulting services.
Softential Inc Infotech Enterprises America Infotech Enterprises America Inc, a wholly owned unit of Infotech Enterprises Ltd definitively agreed to acquire Softential Inc, a Herndon-based provider of information technology services. Terms were not disclosed.
Health Solutions Services Inc Interactive Health Solutions Interactive Health Solutions Inc, a unit of CI Capital Partners LLC, acquired Health Solutions Services Inc, a provider of evidence-based wellness screenings, health improvement programs, and comprehensive wellness program management services.
Delphon Industries LLC Investor Group An investor group, comprised of Fulham & Co Inc, Farol Asset Management LP, Brooke Private Equity Associate, and Abacus Finance Group LLC, acquired Delphon Industries LLC, a Hayward-based manufacturer of packaging materials, in a leveraged buyout transaction. Terms were not disclosed.
Mountain Valley Spring Co Investor Group An investor group, including Great Range Capital and Mountain Valley Spring Co's (MVS) management, acquired MVS, a Hot Springs-based producer of bottled drinking water, in a leveraged buyout transaction.
Horizon Hobby Inc Investor Group An investor group comprised of Joe Ambrose, Armory Capital, and Mill City Capital LP, acquired Horizon Hobby Inc, a Champaign-based wholesaler of toys such as radio-controlled products and other hobby items, in leveraged buyout transaction, from Horizon Hobby Inc ESOP. Terms of the deal were not disclosed.
Banno LLC Jack Henry & Associates Inc Jack Henry & Associates Inc acquired Banno LLC, a Cedar Falls-based developer of software solutions for financial institutions.
Data Tactics Corp L-3 Communications Hldg Inc L-3 Communications Holdings Inc acquired Data Tactics Corp, a McLean-based provider of data analytics services.
QS Investors LLC Legg Mason Inc Legg Mason Inc definitively agreed to acquire QS Investors LLC, a New York-based provider of investment management services. Terms were not disclosed.
Purple Nation Solutions Levick Strategic Commun Levick Strategic Communications LLC acquired Purple Nation Solutions, a Washington-based law, media, and legislative firm.
Built NY Inc Lifetime Brands Inc Lifetime Brands Inc acquired Built NY Inc, a New York-based designer and distributor of brightly colored, uniquely patterned Neoprene products.
Piedmont Neonatology PC MEDNAX Inc MEDNAX Inc acquired Piedmont Neonatology PC, a Greensboro-based provides neonatal services.
Oaisys Mitel Networks Corp Mitel Networks Corp of Canada acquired OAISYS, a Tempe-based developer of call recording and contact center management solutions. Terms were not disclosed.
LegacyRx Holdings LLC Modern HEALTHcare Inc Modern Healthcare Inc acquired LegacyRx Holdings LLC, an Orlando-based specialty pharmacy. Terms of the transaction were not disclosed.
Total Life Care Pharmacy Modern HEALTHcare Inc Modern HEALTHcare Inc, a unit of Altamont Capital Partners LLC, acquired Total Life Care Pharmacy Rx Pharmacy LLC, a Harvey-based specialty pharmacy. Terms were not disclosed.
Bonds.com Group Inc MTS Markets International Inc MTS Markets International Inc, a unit of the Societa per il Mercato dei Titoli di Stato-Borsa Obbligazionaria Europea SpA subsidiary of Borsa Italiana SpA's (Borsa Italiana) MBE Holding unit, agreed to acquire the entire share capital of Bonds.com Group Inc, a New York-based provider of online securities trading services. Terms were not disclosed, but according to company officials, the transaction was valued at $15 million in cash. Borsa Italiana was a unit of London Stock Exchange Group PLC's London Stock Exchange PLC subsidiary.
Residence Inn by Marriott Noble Investment Group LLC Noble Investment Group LLC acquired four Residence Inn by Marriott hotels, located in Cleveland, Ohio. Terms were not disclosed.
North Technology Group LLC Oakley Capital Private Eq LP Oakley Capital Private Equity LP of the UK, a unit of Oakley Capital Investments Ltd, acquired an undisclosed majority interest in North Technology Group LLC, a Milford-based manufacturer of sails.
Airpush Inc Perion Network Ltd Perion Network Ltd was rumored to be planning to acquire Airpush Inc, a Los Angeles-based provider of mobile advertising services. Terms were not disclosed, but according to people familiar with the transaction, the deal was valued at $170 million.
Chevron USA-Ferndale Terminal Petrogas Energy Corp Petrogas Energy Corp agreed to acquire Ferndale Terminal from Chevron USA Inc, a San Ramon-based oil and gas exploration and production company.
Capital Growth Corp Pladeo Corp Pladeo Corp of Mexico acquired the entire share capital of Capital Growth Corp, a provider of financing services.
Lorillard Inc Reynolds American Inc Reynolds American Inc was rumored to be planning to acquire the entire share capital of Lorillard Inc, a Greensboro-based producer and wholesaler of cigarettes. Terms were not disclosed but, according to people familiar with the transaction, the deal was valued at an estimated $20 billion.
Trubiquity Inc Rocket Software Inc Rocket Software Inc acquired Trubiquity Inc, a Rochester Hills-based developer of data exchange software, from Kinderhook Industries LLC.
Apogee Software Ltd SDN Invest ApS SDN Invest ApS of Denmark acquired Apogee Software Ltd, a Garland-based developer of video game software. Terms were not disclosed.
Darden Rest-Red Lobster Business Shareholders Darden Restaurants Inc, an Orlando-based owner and operator of restaurants, planned to spin off its Red Lobster business unit, to its shareholders.
WebDAM Shutterstock Inc Shutterstock Inc definitively agreed to acquire WebDAM, a California-based provider of digital asset management.
Flexible Foam Products Inc Sleep Innovations Inc Sleep Innovations Inc, a unit of Sun Capital Partners Inc, definitively agreed to acquire Flexible Foam Products Inc, a Spencerville-based manufacturer and supplier of polyurethane foam products, from Ohio Decorative Products Inc. Terms were not disclosed.
Echo Nest Corp Spotify Ltd Spotify Ltd of the UK acquired Echo Nest Corp, a Somerville-based developer of music management software.
SyncroFlo Inc SPP Pumps LP SPP Pumps LP, a unit of Kirloskar Brothers Ltds SPP Pumps Ltd unit, acquired the entire share capital of SyncroFlo Inc, a Norcross-based manufacturer and wholesaler of water pumps.
Specialty Retailers (TX) LLC Steele's & Deals LLC Steele's & Deals LLC, a unit of Hilco Global, agreed to acquire the entire share capital of Specialty Retailers (TX) LLC, an owner and operator of department stores, from Stage Stores Inc.
Plant Tape Altea SL Tanimura & Antle Inc Tanimura & Antle Inc, planned to acquire the entire share capital of Plant Tape Altea SL, a US-based owner and operator of farm, and a unit of Plant Tape USA Inc.
Horizon Post-Acute The Ensign Group Inc The Ensign Group Inc acquired Horizon Post-Acute and Rehabilitation Center, a Glendale-based nursing facility.
Heritage Golf Group LLC Tower Three Partners LLC Tower Three Partners LLC acquired an undisclosed majority interest in Heritage Golf Group LLC, a San Diego-based owner and operator of golf and resort properties. Terms were not disclosed.
PSI Acquisition LLC Trafficware Ltd Trafficware Ltd, a unit of KRG Capital Partners LLC, acquired PSI Acquisition LLC, a Salem-based manufacturer of traffic equipment.
JK Distributors Inc Uni-Select USA Inc Uni-Select USA Inc, a unit of Uni-Select Inc, agreed to acquire JK Distributors Inc, a Falls Church-based manufacturer of automobile parts.
LeisureLink Inc VacationRoost Group Inc VacationRoost Group Inc, a unit of Castles Travel Inc, a joint venture between Kinderhook Industries LLC and Castles Media Co LLC, acquired LeisureLink Inc, a Pasadena-based provider of electronic distribution and online property services.
CourseSmart LLC Vital Source Technologies Inc Vital Source Technologies Inc, a unit of Ingram Industries Inc, acquired CourseSmart LLC, a San Mateo-based wholesaler of eTextbooks and digital course materials.
SnapNames.com Inc Web.com Group Inc Web.com Group Inc acquired SnapNames.com Inc, a unit of Keydrive SA, a Inc, a Portland-based provider of domain management services.
Broadcast International Inc Wireless Ronin Technologies Wireless Ronin Technologies Inc agreed to merge with Broadcast International Inc, a Salt Lake City-based developer of internet software, in a stock swap transaction.
SteamFunk Labs Inc Yahoo! Inc Yahoo! Inc acquired SteamFunk Labs Inc, a Portland-based provider of online social network services. Terms were not disclosed.
Source: Thomson Reuters

 

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