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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

New plays from 7-Eleven, IBM and Carlyle Group; other recent deals listed here in alphabetical order according to buyer

 

Target | Acquirer                                                                                                                                                                 Synopsis

Tetco Inc - Retail Wholesale Assets | 7-Eleven Inc

7-Eleven Inc, a unit of Seven & I Holdings Co Ltd's IYG Holding Co, agreed to acquire the retail and wholesale assets of Tetco Inc, a San Antonio, Texas-based owner and operator of gas stations. Terms were not disclosed.

Pervasive Software Inc | Actian Corp

Actian Corp planned to acquire the entire share capital of Pervasive Software Inc, an Austin, Texas-based developer of data management software, for $8.5 in cash per share, or a total value of $147.238 mil.

Medinah Gold Inc | American Sierra Gold Corp

American Sierra Gold Corp, through its wholly-owned American Sierra Gold Merger Corp subsidiary, agreed to merge with Medinah Gold Inc, a Henderson-based gold mining company, in exchange for an estimated 54 million ASGC common shares valued at $2.7 million.

Venmo Inc | Braintree Payment Solutions

Braintree Payment Solutions LLC acquired Venmo Inc, a developer of mobile payment software in Philadelphia, for $26.2 million.

Racer Trust | Brownfield Communities Co

Brownfield Communities Development Co acquired the stamping plant, located in Mansfield-Ontario, Ohio, of Revitalizing Auto Communities Environmental Response Trust, a real estate development firm. Terms were not disclosed.

Montana Refining Co | Calumet Specialty Products

Calumet Specialty Products Partners LP agreed to acquire Montana Refining Co, a Great Falls-based manufacturer of petroleum products, from Connacher Oil & Gas Ltd, for an estimated $120 million. Concurrently, Connacher agreed to divest its conventional oil and gas assets to an undisclosed acquiror.

Florida Oil Holdings-Stores | Circle K Stores Inc

Circle K Corp, a wholly-owned unit of Alimentation Couche-Tard Inc, agreed to acquire 29 stores from Florida Oil Holdings LLC, a Scottsdale-based owner and operator of gas stations and convenience stores. Terms were not disclosed.

Noble Energy - Oil, Gas Properties | Citation Oil & Gas Corp

Citation Oil & Gas Corp definitively agreed to acquire certain oil & gas properties of Noble Energy Inc, a Houston-based oil and gas exploration and production company, for an estimated $140 million.

WilsonArt International Inc | Clayton Dubilier & Rice LLC

Clayton Dubilier & Rice LLC definitively agreed to acquire a 51% interest in WilsonArt International Inc, a Temple-based manufacturer and wholesaler of decorative surfacing products, from a unit of Illinois Tool Works Inc, for $1.05 billion in cash, in a leveraged buyout transaction. Upon completion, WilsonArt was to be renamed Wilsonart International Holdings LLC.

PSC Info Group Inc | Compass Investment Partners

Compass Investment Partners Fund LP acquired PSC Info Group Inc, an Oaks-based provider of data management, printing, mailing services, from Roark Capital Group, in a leveraged buyout transaction.

Viking Systems Inc | Conmed Corp

Conmed Corp through its wholly owned Arrow Merger Corp unit, definitively agreed to acquire the entire share capital of Viking Systems Inc, a Westborough, Mass.-based manufacturer, developer and wholesaler of medical visualization equipment software, for $0.27 in cash per share, or a total value of $19.59 million, via tender offer.

Roffe Container Inc | Consolidated Container Co

Consolidated Container Co , a unit of Bain Capital Partners LLC, planned to acquire Roffe Container Inc, a Moorhead, Minn.-based manufacturer of plastic containers.

Parker Hannifin-Division | ContiTech AG

ContiTech AG of Germany, a unit of Continental AG, definitively agreed to acquire the automotive air conditioning business of Parker Hannifin Corp, a Cleveland manufacturer of fluid power system. Terms were not disclosed.

First Benefit Partners | Digital Insurance Inc

Digital Insurance Inc acquired First Benefit Partners, a Knoxville, Tenn.-based provider of employee benefit services.

Mission Critical Wireless LLC | Digital Management Inc

Digital Management Inc acquired Mission Critical Wireless LLC, a provider of enterprise mobility management services.

Breland Homes Inc-Homebuilding | DR Horton Inc

DR Horton Inc, a wholly- owned unit of Hovnanian Enterprises Inc's Washington Homes Inc, acquired the homebuilding operations of Breland Homes Inc, a Huntsville, Ala.-based constructor of residential homes.

Intuit Inc-Websites Business | Endurance Intl Group Inc

Endurance International Group Inc, a majority-owned unit of Accel-KKR LLC, definitively agreed to acquire the Websites business of Intuit Inc, a Mountain View, Calid.-based developer of financial software. Terms were not disclosed.

MS Health Software Corp | Epazz Inc

Epazz Inc acquired MS Health Software Corp, a developer of mental health software.

Ulterra Drilling Technologies | Esco Corp

Eesco Corp definitively agreed to acquire the entire share capital of Ulterra Drilling Technologies LP, a Forth Worth-based manufacturer and wholesaler of drilling equipments, from Scientific & Production Enterprise BURINTEKH Ltd, for an estimated $325 million in cash.

Cleveland Tubing Inc | Euramax International Inc

Euramax International Inc, a unit of GSCP EMAX Acquisition LLC, acquired Cleveland Tubing Inc, a Cleveland plastics manufacturer.

LTS Inc | First Cash Finl Services Inc

First Cash Financial Services Inc definitively agreed to acquire the entire share capital of LTS Inc, a Lakewood-based owner and operator of pawnshops, for an estimated $46 million. The consideration was to consist of $37.5 million in cash and $8.5 million in notes payable.

TPC Group Inc | First Reserve Corp

First Reserve Corp was rumored to be in negotiations to acquire the entire share capital of TPC Group Inc, a Houston-based manufacturer of chemical products.

Decanter Machine Inc | FLSmidth & Co A/S

FLSmidth & Co A/S agreed to acquire Decanter Machine Inc, a manufacturer and wholesaler of centrifugal technology equipment. Terms were not disclosed.

SOS Security | Forsythe Technology Inc

Forsythe Technology Inc acquired SOS Security, a developer of information security software in Houston.

TekTango LLC | Freeport Capital Inc

Freeport Capital Inc of Canada agreed to acquire a 51% interest in TekTango LLC, a developer of mobile payment software, in exchange for 0.6 million Freeport new common shares valued at $0. 238. The shares were valued based on Freeports closing stock price of $0.397 on July 31.

COREsense Inc | Friedman Corp

Friedman Corp, a wholly- owned unit of Constellation Software Inc, acquired CORESense Inc, a ecommerce and retail management software service provider.

Kinetic Concepts - TSS Business | Getinge AB

Getinge AB of Sweden definitively agreed to acquire the Therapeutic Support Systems business of Kinetic Concepts Inc, a San Antonio, Texas-based manufacturer and wholesaler of therapeutic beds and a unit of Chron Holdings Inc, for $275 mil.

Accelerated Payment Tech | Global Payments Inc

Global Payments Inc agreed to acquire Accelerated Payment Technologies Inc, a developer of payment processing software, from Great Hill Partners LLC, for $413 million in cash.

Affinity VideoNet Inc | Glowpoint Inc

Glowpoint Inc definitively agreed to acquire Affinity VideoNet Inc, a Denver-based provider of videoconferencing services, for $16.065 million. The consideration was to consist of $7.750 mil, the issuance of 2.650 million Glow common shares, valued at $5.565 mil, and $2.75 million in notes. The shares were valued based on Glows closing stock price of $2.1 on Aug. 10, the last full trading day prior to the announcement.

Texas Memory Systems Inc | IBM Corp

International Business Machines Corp definitively agreed to acquire Texas Memory Systems Inc, a Houston-based manufacturer of data storage systems. Terms were not disclosed.

Getty Images Inc | Investor Group

An investor group, comprised of Getty Images Inc's management and Carlyle Group LP, agreed to acquire the entire share capital of Getty, a Seattle-based provider of visual content services, from Hellman & Friedman LLC, for $3.3 bil in a management buyout transaction. In May, Getty was seeking a buyer. KKR & Co LP, Carlyle, CVC Capital Partners and TPG Capital LP were named as potential bidders.

Duray Manufacturing Inc | Investor Group

An undisclosed investor group acquired Duray Manufacturing Inc, a Chicago manufacturer of lighting fixtures. Terms were not disclosed.

PL Midstream LLC | Investor Group

An investor group, comprised of Boardwalk Pipeline Partners LP, a majority-owned unit of Loews Corp's majority-owned Boardwalk Pipelines Holding Corp subsidiary, and an undisclosed affiliate, definitively agreed to acquire PL Midstream LLC, a Baton Rouge-based oil and gas exploration and production company, from PL Logistics LLC for $625 million in cash.

Parnon Gathering Inc | JP Energy Partners LP

JP Energy Partners LP acquired Parnon Gathering Inc, a Pratt-based provider of pipeline transportation services, from Parnon Holdings Inc. Concurrently, JP Energy acquired Parnon Storage LLC.

Zeller Corp | Kaman Industrial Tech Corp

Kaman Industrial Technologies Corp, a wholly- owned unit of Kaman Corp, definitively agreed to acquire Zeller Corp, a Rochester-based wholesaler of electrical components, from LSB Industries Inc. Terms were not disclosed.

Alcoa Inc - Assets | LCRA

State-owned Lower Colorado River Authority agreed to acquire the assets of Alcoa Inc, a Pittsburgh manufacturer and wholesaler of aluminum products. Terms were not disclosed.

IM Solutions LLC | LeadingResponse

LeadingResponse, a unit of Huron Capital Partners LLC, acquired IM Solutions LLC, a Dallas-based provider of online legal marketing services.

Eagle Energy Co-Oil Property | Midstates Petroleum Co Inc

Midstates Petroleum Co Inc agreed to acquire the Mississippian lime oil producing properties, located in Oklahoma and Kansas, of Eagle Energy Co of Oklahoma LLC, a Tulsa, Okla.-based oil and gas exploration and production company, for $325 million in cash and the issuance of 0.325 million MP class A preferred shares.

RealBiz Holdings Inc | Next 1 Interactive Inc

Next 1 Interactive Inc agreed to acquire an 85% interest in RealBiz Holdings Inc, a provider of interactive media services, from Acknew Investments Inc, for $2.2 million.

BlueScope Steel Ltd-North | Nippon Steel Corp

Nippon Steel Corp of Japan, agreed to acquire North American Building Products Business, located in Delaware, of BlueScope Steel Ltd, a Melbourne-based manufacturer of steel, in the formation of a joint venture. Nippon is to own 50% and BlueScope the remaining 50% of the North American Building Products Business. Concurrently, Nippon agreed to acquire ASEAN Building Products Business, of BlueScope. The two transactions have a combined value of IDR 5.226 tri ($554 million).

Broadway Plaza | PECO-ARC Institutional JV I LP

PECO-ARC Institutional JV I LP, a joint venture between Phillips Edison-ARC Shopping Center REIT Inc and CBRE Global Investors, a majority-owned unit of CB Richard Ellis Group Inc, acquired Broadway Plaza, a Tucson, Ariz.-based owner and operator of a shopping center.

Inter-Pac Inc | Pregis Corp

Pregis Corp acquired Inter-Pac Inc, a Tupelo-based manufacturer of foam products.

First Dental Health | Principal Financial Group Inc

Principal Financial Group Inc agreed to acquire First Dental Health, a San Diego provider of dental services.

Central Alarm Inc | Protection One Inc

Protection One Inc, a wholly-owned unit of GTCR LLC, acquired Central Alarm Inc, a Las Cruces-based provider of security alarm monitoring services. Concurrently, Protection acquired Advanced Solutions Inc, a Montgomery- based provider of security alarm monitoring services.

Ant's Eye View | PwC

PricewaterhouseCoopers LLP planned to acquire Ant's Eye View, a Seattle provider of brand management services. Terms were not disclosed.

Expression Analysis Inc Quintiles | Transnational Corp

Quintiles Transnational Corp acquired Expression Analysis Inc, a Durham, N.C.-based provider of genomics services. Terms were not disclosed.

Expedited Freight Systems Inc | Roadrunner Transp Sys Inc

Roadrunner Transportation Systems Inc acquired the entire share capital of Expedited Freight Systems Inc, a Kenosha-based provider of freight services, for an estimated $10 million and up to a further undisclosed amount in profit-related payments.

Beverly Hilton Hotel | Sahara India Pariwar Ltd

Sahara India Pariwar Ltd of India was rumored to be in negotiations to acquire a 55% interest in Beverly Hilton Hotel, a Beverly Hills-based owner and operator of a hotel, from Oasis West Realty LLC. Terms were not disclosed, but the deal is reportedly valued at $342 million.

Diversified Tech-Product Line | SANBlaze Technology Inc

SanBlaze Technology Inc acquired the AdvancedTCA 10G switch product line of Diversified Technology Inc, a manufacturer and wholesaler of storage solutions and a unit of Ergon Corp.

Neotope Biosciences Ltd | Shareholders

Elan Corp plc of Ireland planned to spin off its Neotope Biosciences unit, a San Francisco-based biotechnology company, to its shareholders.

Meta Health Technology Inc | Streamline Health Solutions

Streamline Health Solutions Inc acquired Meta Health Technology Inc, a New York-based provider of health information management solutions, for $15 million. The consideration was to consist of $13.4 million in cash and $1.6 million in common shares.

Physicians Formula Holdings | Swander Pace Capital LLC

Swander Pace Capital LLC definitively agreed to acquire the entire share capital of Physicians Formula Holdings Inc, an Azusa-based manufacturer and wholesaler of cosmetic products, for $4.25 in cash per share, or a total value of $58.278 million, in a leveraged buyout transaction.

Lee-Var Inc | Synalloy Corp

Synalloy Corp definitively agreed to acquire Lee-Var Inc, an Andrews-based manufacturer of storage tanks and vessels, for $25.575 million and up to $10.5 million in profit-related payments.

Delphi Healthcare Partners Inc | Team Health Holdings Inc

Team Health Holdings Inc, a unit of Blackstone Group LP, acquired Delphi Healthcare Partners Inc, a Morrisville-based provider of physician staffing and management services.

BP plc - Carson Refinery, ARCO | Tesoro Refining Marketing & Supply

Tesoro Refining Marketing & Supply Co, a unit of Tesoro Corp, definitively agreed to acquire the Carson refinery and ARCO retail network of BP plc, a London oil and gas explorer, for an estimated $2.475 billion in cash.

Michael's Finer Meats LLC | The Chefs' Warehouse Inc

The Chefs' Warehouse Inc acquired the entire share capital of Michael's Finer Meats LLC, a Columbus-based retailer and wholesaler of beef and seafood, for an estimated $54.3 million.

Meritage Energy-Certain Assets | Three Rivers Natural Resource

Three Rivers Natural Resource Holdings II LLC acquired certain assets, located in the Permian Basin, of Meritage Energy Co LLC, a Denver-based oil and gas exploration and production company.

FSI International Inc | Tokyo Electron Ltd

Tokyo Electron Ltd definitively agreed to acquire the entire share capital of FSI International Inc, a Chaska-based wholesaler of surface conditioning equipment, via a tender offer for $6.2 in cash per share, or a total value of $243.011 million.

Saxon Oil Co | Trek Resources Inc

Trek Resources Inc definitively agreed to acquire the entire share capital of Saxon Oil Co, a Houston-based an oil and gas explorer, from Saxon Oil Co Ltd, for $7.225 million.

Forest Oil-Gathering Assets | Tristate Midstream LP

Tristate Midstream LP, a unit of Energy Spectrum Capital agreed to acquire the East Texas natural gas gathering assets of Forest Oil Corp, a Denver-based oil and gas explorer, for $43 million.

Invicta Alliance Partners | Ubiquity Corp

Ubiquity Corp acquired Invicta Alliance Partners, a California-based software gaming company.

Comverse Technology Inc | Verint Systems Inc

Verint Systems Inc, a majority-owned unit of Comverse Technology Inc, through its wholly- owned subsidiary, definitively agreed to acquire the entire share capital of CTI in a stock swap transaction valued at $805.725 million. Verint offered 27.5 million new common shares and $25 million in Verint common shares.

Vertex Acquisition Sub LLC | Vertex Energy Inc

Vertex Energy Inc definitively agreed to acquire Vertex Acquisition Sub LLC, a provider of waste management and disposal services, for $23.2 million. The consideration was to consist of $16.5 in cash, including the assumption of an undisclosed amount in liabilities, the issuance of 4.545 million in Vertex restricted common shares, and up to $6.7 million in profit- related payments.

USCarrier Telecom LLC | Zayo Group LLC

Zayo Group LLC, a unit of Communications Infrastructure Investments LLC's Zayo Group Holdings Inc, definitively agreed to acquire the remaining 50% interest, which it did not already own, in USCarrier Telecom LLC, an Atlanta-based provider of telecommunication services, for $13.5 million.

 

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