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ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

The Weekly Wrap: Belkin, Riverside Co., Starwood Property

Belkin purchases Linksys; Riverside buys Alchemy Systems; and Starwood Property acquires LNR

Target Name | Acquirer

MAP Pharmaceuticals Inc | Allergan Inc

Allergan Inc definitively agreed to acquire the entire share capital of MAP Pharmaceuticals Inc (MAP), a Mountain View-based manufacturer of pharmaceuticals, for $ 25 in cash per share, or a total value of $ 882.177, via a tender offer. The offer was conditioned upon at least a majority of MAP's shares being tendered.

Sequoia Insurance Co | AmTrust Financial Services Inc   

AmTrust Financial Services Inc definitively agreed to acquire Sequoia Insurance Co, a Monterey- based provider of insurance services, from Strongwood Insurance Holdings Corp, for an estimated $ 60 mil. The transaction was to include Sequoia Indemnity Co and Personal Express Insurance Co.

Allied Wireless Commun Corp-Do | AT&T Inc     

AT&T Inc definitively agreed to acquire the domestic retail wireless business of Allied Wireless Communications Corp, a Little Rock-based provider of wireless telecommunications services, from Atlantic Tele- Network Inc, for an estimated $ 780 mil in cash.

Simperium Inc | Automattic Inc

Automattic Inc acquired Simperium Inc, a developer of mobile application software.

Cine Latino Inc | Azteca Acquisition Corp

Azteca Acquisition Corp (Azteca) definitively agreed to merge with Cine Latino Inc (Cine), a Coral Gables-based provider of Spanish cable network services, from InterMedia Partners LP, in exchange for an estimated $ 400 mil in Azteca common shares, in a stock swap transaction. Concurrently, Azteca definitively agreed to merge with InterMedia Espanol Holdings LLC (IEH) in a three- way merger transaction. The two transactions were to have a combined value of $ 400 mil. Upon completion, the merged entity was to be named Hemisphere Media Group Inc (HMG), and Azteca, Cine, and IEH were to own 27%, and 36.5% each of HMG, respectively.

Inspiration Biopharma-Assets | Baxter International Inc               

Baxter International Inc agreed to acquire the hemophilia assets (assets) of Inspiration BioPharmaceuticals Inc, a Cambridge-based biopharmaceutical company, for $ 70 mil. The consideration was to consist of $ 50 mil and up to $ 20 mil in profit-related payments. The transaction was to include certain other OBI- 1 related assets, including manufacturing operations, from Ipsen Pharma SAS. Originally, in October 2012, Inspiration Biopharmaceuticals Inc, a Cambridge-based biopharmaceutical company was seeking a buyer for its assets.

Cisco-Home Networking Bus | Belkin International Inc  

Belkin International Inc agreed to acquire the home networking business of Cisco Systems Inc, a San Jose-based manufacturer and wholesaler of networking and communications products. Terms were not disclosed.

Linksys Inc | Belkin International Inc       

Belkin International Inc agreed to acquire Linksys Inc (Linksys), an Irvine-based manufacturer of wireless router products and a unit of Cisco Systems Inc (Cisco). Terms were not disclosed. Originally, in December 2012, Cisco was rumored to be seeking a buyer for its Linksys unit.

Garrapata Water System | California American Water Co             

California American Water Co, a unit of RWE AGs American Water Works Co Inc subsidiary, planned to acquire Garrapata Water System, a provider of water utility and wastewater services.

FourStar Microbial Products | Central Garden & Pet Co 

Central Garden & Pet Co acquired a remaining interest, which it did not already own, in FourStar Microbial Products LLC, a manufacturer of active ingredients.

Nedak Ethanol-Ethanol Plant | Choice Ethanol Hldg of Fargo       

Choice Ethanol Holding of Fargo acquired an ethanol plant from Nedak Ethanol LLC, an Atkinson-based owner and operator of ethanol plants, for $ 22 mil.

Kugler Co-K-Stores,Nebraska(5) | Colorado Retail Ventures Svcs              

Colorado Retail Ventures Services LLC (Colorado) acquired the 5 K-stores, located in Nebraska, of Kugler Co, a Mccook-based manufacturer and wholesaler of liquid fertilizer products. Terms were not disclosed. Upon completion, K-stores will be renamed Eagle Travel Stops & Convenience Stores. Originally, In January 2013, Colorado was rumored to be planning to acquire 5 K- stores.

DRX | Connecture Inc   

Connecture Inc acquired DRX, a Los Angeles-based provider of healthcare technology services. Terms were not disclosed.

Education Holdings 1 Inc | Creditors       

Education Holdings 1 Inc (EH1), a Framingham, -based provider of test preparation services, planned to a debt restructuring transaction with Creditors (CRs). Upon completion, CRs were to hold 100% interest in the restructured EH1. The book value of the existing debt that will be exchanged under the terms of the offer is $ 168.8 mil.

Webtech Wireless Inc-NextBus | Cubic Transp Sys Inc   

Cubic Transportation Systems Inc, a unit of Cubic Corp, acquired the NextBus division of Webtech Wireless Inc, a Burnaby-based manufacturer of GPS tracking solutions, for $ 20.75 mil in cash.

Lysse Leggings | E&A Industries Inc        

E&A Industries Inc acquired Lysse Leggings, a New York-based manufacturer, wholesaler, and retailer of womens apparel. Terms were not disclosed.

Elmhurst Memorial Healthcare | Edward Hospital & Health          

Edward Hospital & Health Services merged with Elmhurst Memorial Healthcare, an Elmhurst-based provider of medical and health services.

Tapestry Asset Management LP | Equinox Financial Group LLC  

Equinox Financial Group LLC acquired Tapestry Asset Management LP, a Princeton- based advisory firm. Terms were not disclosed.

Lascaux Co Inc | Etsy Inc              

Etsy Inc acquired Lascaux Co Inc, a new York- based developer of mobile application software. Terms were not disclosed.

Crestview Village Shopping | Evergreen Co         

Evergreen Co acquired Crestview Village Shopping Center, a Carmichael-based owner and operator of shopping center, from Richard Holesapple, for an estimated $ 20 mil.

PGT Inc-Manufacturing Facility  Gildan Activewear Inc

Gildan Activewear Inc of Canada acquired a manufacturing facility, located in North Carolina, from PGT Inc, a North Venice- based manufacturer and wholesaler of windows and doors, for an estimated $ 8 mil in cash.

Beam Mode Optronics LLC | Hao Wei Holdings(Cayman)Co Ltd  

Hao Wei Holdings (Cayman) Co Ltd of Taiwan, a 90%- owned unit of Chang Wah Electronmaterials Inc (Chang Wah) of Taiwan, planned to acquire a 94.685% interest, or 21.013 mil shares in Beam Mode Optronics LLC, a manufacturer and wholesaler of electronic components and a 99.945%-owned unit of Chang Wah, from Chang Wah.

iTech for business | Hargray Communications Group

Hargray Communications Group, a unit of Quadrangle Group LLC, agreed to acquire iTech for business, a Savannah-based provider of information technology services, and a unit of Schneider National Incs Schneider Logistics Inc unit. Terms were not disclosed.

NAC International Inc | Hitz Holdings USA Inc     

Hitz Holdings USA Inc, a unit of Hitachi Zosen Corp of Japan, agreed to acquire the entire share capital of NAC International Inc, a Norcross- based provider of energy consulting services, from USEC Inc, for $ 45 mil in cash.

Davidson Mortgage Services Inc  | Homeowners Mortgage Corp              

Homeowners Mortgage Corp, a wholly-owned unit of FSF Financial Corp, acquired Davidson Mortgage Services Inc, a Lexington-based mortgage bank.

Continental Industries Inc | Hubbell Inc

Hubbell Inc acquired Continental Industries Inc, a Tulsa-based manufacturer of gas and propane connectors.

Imaginetics Inc | Imaginetics Inc SPV      

Imaginetics Inc SPV, a special purpose acquisition vehicle formed by Kidd & Co LLC and Centerfield Capital Partners LP, acquired Imaginetics Inc, an Auburn- based manufacturer of precision metal equipment, in a leveraged buyout transaction.

iPenMD Solution | iMedicor Inc

iMedicor Inc acquired iPenMD Solution, a San Antonio-based provider of information retrieval services.

GroSocial | Infusionsoft Inc        

Infusionsoft Inc acquired GroSocial, a developer of software.

SRG Inc | InterCore Energy Inc  

InterCore Energy Inc (InterCore) acquired the entire share capital of SRG Inc, a New York-based developer of proprietary alertness detection technologies solutions software, in exchange for 80% interest of InterCore's preferred stock.

Rayonier Inc-Wood Products Bus | International Forest Prod Ltd              

International Forest Products Ltd of Canada agreed to acquire wood products business of Rayonier Inc, a Jacksonville-based manufacturer of logs, timber, and wood products, for $ 80 mil.

Esmark Technologies LLC | Investor Group          

An investor group comprised of Bouchard Group LLC (40%) and Stahlschmidt Inc (60%) acquired Esmark Technologies LLC, a Sewickley- based provider of technical consulting services, from Esmark Inc, a unit of OAO "Severstal". Terms were not disclosed.

Radisson Resort Hotel Orlando | Investor Group              

An investor group, comprising Interstate Hotels & Resorts Inc, a unit of a joint venture between Thayer Lodging Group and Jinjiang Hotels, Waramaug Hospitality LLC and an undisclosed private investment group, acquired Radisson Resort Hotel Orlando-Celebration, a Kissimmee-based owner and operator of hotel and resort, in the formation of a joint venture.

Carl's Patio Inc | Investor Group               

An investor group, led by Paul Otowchits and comprised of Weinberg & Bell Group Inc, acquired Carls Patio Inc, a Coconut Creek- based owner and operator of furniture stores, in a leveraged buyout transaction.

Datastore LLC | Iron Mountain Inc           

Iron Mountain Inc (Iron Mountain) acquired Datastore LLC, a Milwaukee-based provider of document management services, from Coakley Brothers Co. Concurrently, Iron Mountain acquired Data Technology Services Inc.

Data Technology Services Inc | Iron Mountain Inc            

Iron Mountain Inc (Iron Mountain) acquired Data Technology Services Inc, a Wilmington-based provider of document management services. Concurrently Iron Mountain acquired Datastore LLC.

Pritchard Osborne LLC | Kerber Eck & Braeckel LLP          

Kerber Eck & Braeckel LLP merged with Pritchard Osborne LLC, a St Louis-based provider of accounting services.

Volition Inc | Koch Media GmbH              

Koch Media GmbH acquired Volition Inc, a Champaign- based developer of video games, from THQ Inc, for $ 22.3 mil.

MilesTek Corp | L-com Inc          

L-com Inc, a unit of Odyssey Investment Partners LLC, acquired MilesTek Corp, a Denton-based manufacturer and wholesaler of specialized products.

Hester Capital Management LLC               | Luther King Capital Mgmt Corp

Luther King Capital Management Corp acquired Hester Capital Management LLC, an Austin-based provider of investment advisory services. Terms were not disclosed.

Beam Inc-Brands | Luxco Inc      

Luxco Inc definitively agreed to acquire the collection of brands of Beam Inc, a Deerfield-based producer and wholesaler of liquor and spirits, for an estimated $ 65 mil/

Universal Health Care-Assets | MBF Healthcare Partners LP

MBF Healthcare Partners LP signed a Letter of Intent {LoI} to acquire the certain assets of Universal Health Care Group Inc, a St. Petersburg-based provider of health insurance services, in a leveraged buyout transaction.

Akamai Technologies Inc-Bus | MediaMath Inc 

MediaMath Inc acquired the Advertising Decision Solutions business of Akamai Technologies Inc, a Cambridge- based provider of internet acceleration services. Terms were not disclosed.

Spectacular Design Group LLC | Metromedia Technologies Inc

Metromedia Technologies Inc acquired Spectacular Design Group LLC, a New York- based provider of digital advertising services.

Terramonte Apartments,Pomona | MG Properties Group           

MG Properties Group acquired the Terramonte Apartments, a Pomona-based owner and operated of an apartment community, for $ 19.25 mil. Concurrently, MG acquired Waterstone Apartments.

Investor Force Holdings Inc | MSCI Inc  

MSCI Inc definitively agreed to acquire Investor Force Holdings Inc, a Conshohocken-based developer of institutional investment software, from ICG Group Inc, for $ 23.5 mil in cash.

BitSec Global Forensics Inc | NDI              

Network Designs Inc merged with BitSec Global Forensics Inc, a Augusta- based provider of cyber security services. Terms were not disclosed.

Clearly Chemical Corp | Nufarm Ltd        

Nufarm Ltd of Australia acquired Clearly Chemical Corp, a Dayton-based manufacturer of plant protection and insecticide products, for an estimated $ 10 mil.

Ashford Park,Atlanta,Georgia | Preferred Apartment    

Preferred Apartment Communities Inc (Preferred) acquired Ashford Park, an Atlanta-based owner and operator of apartment buildings, for an estimated $ 39.4 mil including assumption of $ 38.8 mil in liabilities. Concurrently, Preferred acquired McNeil Ranch for an estimated $ 21 mil and Lake Cameron for an estimated $ 30.4 mil.

McNeil Ranch,Austin,Texas | Preferred Apartment        

Preferred Apartment Communities Inc (Preferred) acquired McNeil Ranch, an Austin-based owner and operator of apartment buildings, for an estimated $ 21 mil including assumption of $ 13.4 mil in liabilities. Concurrently, Preferred acquired Ashford Park for an estimated $ 39. 4 mil and Lake Cameron for an estimated $ 30.4 mil.

Lake Cameron,Apex | Preferred Apartment      

Preferred Apartment Communities Inc (Preferred) acquired Lake Cameron, an Apex-based owner and operator of apartment buildings, for an estimated $ 30.4 mil including assumption of $ 17.5 mil in liabilities. Concurrently, Preferred acquired McNeil Ranch for an estimated $ 21 mil and Ashford Park for an estimated $ 39.4 mil.

Molecular Insight Pharm Inc | Progenics Pharmaceuticals Inc

Progenics Pharmaceuticals Inc (Progenics) acquired the entire share capital of Molecular Insight Pharmaceuticals Inc, a Cambridgebased manufacturer of pharmaceuticals, for $ 12.922 mil. The consideration consisted of the issuance of 4.566 mil Progenics common shares, valued at an estimated $ 12.922 mil, and an undisclosed amount in profit-related payments. The shares were valued based on Progenics' closing stock price of $ 2.83 on 21 January 2013, the last full trading day prior to the announcement.

ODIN Technologies Inc | Quake Global Inc           

Quake Global Inc acquired ODIN Technologies Inc, an Ahsburn-based developer of RFID solutions software.

Terresolve Technologies Ltd | Radiator Specialty Co        

Radiator Specialty Co acquired Terresolve Technologies Ltd, a Mentor- based manufacturer of chemicals.

Citigroup Trust-Delaware NA | Reliance Financial Corp   

Reliance Financial Corp agreed to acquire Citigroup Trust-Delaware NA a provider of commercial banking services, from Citibank NA, a wholly-owned unit of Citigroup Inc. Terms were not disclosed.

KIVA Designs Inc-Brands  | RG Barry Corp            

RG Barry Corp planned to acquire the outdoor niche brands of KIVA Designs Inc, a Benicia-based manufacturer and wholesaler of luggage and travel bags. Terms were not disclosed.

Alchemy Systems LP | Riverside Co        

Riverside Co acquired Alchemy Systems LP, headquartered in Austin, Texas, US, is a developer of training solutions software, in a leveraged buyout transaction. Terms were not disclosed.

Canyon Copper Corp-Moonlight               | Sandfield Resources Ltd

Sandfield Resources Ltd (Sandfield) of Canada was granted an option to acquire a 60% interest in Moonlight Copper-Porphyry Property (Moonlight Copper), located in Plumas County, California of Canyon Copper Corp, a Vancouver-based copper mining company, for $ 1.975 mil. The consideration was to consist of $ 1.975 mil and the issuance of 3 mil Sandfield stock. Concurrently, Sandfield was granted an option to raise its interest to 70% from 60%, by acquiring a 10% stake in Moonlight Copper.

Stratix Corp-Software Division | ServicePower Technologies PLC              

ServicePower Technologies PLC of the UK, acquired the software division & Field Service Mobile software of Stratix Corp, a Norcross-based provider of managed mobile services. The transaction included the mobile application development team, intellectual property and existing field service software contracts.

SignalShare LLC | SignalPoint Communications  

SignalPoint Communications Corp acquired SignalShare LLC, a Raleigh- based provider of wireless internet services.

Argo Systems Inc | SintecMedia Ltd       

SintecMedia Ltd acquired Argo Systems Inc, an Atlanta- based developer of business solutions software.

Cole Credit Property Trust II | Spirit Realty Capital Inc

Spirit Realty Capital Inc (Spirit Realty) definitively agreed to acquire the entire share capital of Cole Credit Property Trust II Inc (CCPT), a Phoenix-based real estate investment trust, in a stock swap reverse takeover transaction, valued at $ 1. 961 bil. Spirit Realty offered 0.525 share per CCPT share held. Based on Spirit Realty's closing stock price of $ 17.82 on 18 January 2013, the last full trading day prior to the announcement, each CCPT share was valued at $ 9.356. Upon completion, Spirit Realty and CCPT shareholders were to own 43. 539% and 56.461%, respectively.

LNR Property LLC | Starwood Property Trust Inc               

Starwood Property Trust Inc definitively agreed to acquire LNR Property LLC, a Miami Beach-based provider of real estate investment and management services, from Vornado Realty Trust, iStar Financial Inc, Cerebrus, and Oaktree Capital Management LP, for $ 1.053 bil in cash. The transaction was to include acquisition of LNR's US Commercial Property Group and LNR's 50% interest in Auction.com. Originally, in October 2012, LNR Property LLC was rumored to be seeking a buyer for the company. Rialto Capital Management, Starwood Capital Group and Cantor Fitzgerald were named rumored bidders.

AVL Digital Group | Stephens Group Inc               

Stephens Group Inc acquired AVL Digital Group, a Pennsauken-based publishing company, from Corinthian Capital Group LLC, in a leveraged buyout transaction. Terms were not disclosed.

Hyatt Hotels Corp-Hotels(3) | Summit Hotel Properties Inc

Summit Hotel Properties Inc (Summit) acquired a portfolio of three hotels from Hyatt Hotels Corp, a Chicago-based owner and operator of hotels, for $ 36.1 mil. Concurrently, Summit divested its AmericInn Hotel unit, for $ 2.6 mil.

Eze Castle Software LLC | TPG Capital LP              

TPG Capital LP (TPG) definitively agreed to Eze Castle Software LLC (Eze), Boston-based developer of investment and trade order management software, from ConvergEx Inc (Con) a unit of ConvergEx Holdings LLC's BNY ConvergEx Group LLC unit, in a leveraged buyout transaction. Terms were not disclosed. Originally, Con was rumored to be seeking a buyer for its Eze unit. Terms were not disclosed but, according to sources close to the situation, the deal was valued at an estimated $ 1 bil. KKR, TPG and Advent International were named potential bidders. Concurrently, TPG definitively agreed to acquire RealTick LLC.

RealTick LLC | TPG Capital LP      

TPG Capital LP (TPG) definitively agreed to acquire RealTick LLC, a Chicago-based developer of financial application software, from BNY ConvergEx Group LLC, a unit of ConvergEx Holdings LLC, in a leveraged buyout transaction. Terms were not disclosed. Concurrently, TPG definitively agreed to acquire Eze Castle Software LLC.

GridIron Systems Inc | Violin Memory Inc            

Violin Memory Inc acquired GridIron Systems Inc, a Sunnyvale-based provider of hardware and software solutions. Terms were not disclosed.

Element Energy Inc | Volterra Semiconductor Corp         

Volterra Semiconductor Corp acquired Element Energy Inc, a Los Altos-based manufacturer of system control chips.

Aetna Inc-Missouri Medicaid | Wellcare Health Plans Inc              

WellCare Health Plans Inc agreed to acquire the Missouri Medicaid business of Aetna Inc, a Hartford-based provider of HMO services. Terms were not disclosed.

 

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