Today's Transactions
A compilation of the most recently announced middle-market deals and other M&A developments, updated continuously throughout the day
February 2, 2012
Updated 11:54 a.m., Thursday, February 2, 2012
Deerfield, Ill.-based Walgreen Co. agreed to buy certain assets of BioScrip Inc., a provider of pharmacy and home health services, for roughly $225 million. As part of the deal, Walgreen will own BioScrip's mail service pharmacy businesses, among other segments. Peter J. Solomon Co. LP acted as financial adviser to Walgreens in the transaction, and the law firms of SNR Denton and Weil Gotshal and Manges LLP served as the company’s legal counsel. Elmsford, N.Y.-based BioScrip tapped MTS Health Partners LP as financial advisers, along with law firm King & Spalding LLP to handle legal matters.
Berkeley Coffee & Tea Inc. purchased DTS8 Coffee (Shanghai) Co. Ltd. by issuing $4 million worth of bonds payable in favor of the owner, DTS8 Holdings Co. Ltd., a Hong Kong-based company. The deal, according to Shanghai-based Berkeley, expands the company’s presence within the domestic Chinese coffee market.
Lightyear Capital has acquired Walnut Creek, Calif.-based Paradigm Management Services, a provider of healthcare management services, from Sterling Partners. Middle-market investment bank Harris Williams & Co. advised Paradigm on the deal, which closed late Wednesday, Feb. 1. Terms were not released.
Rocket Software Inc. has acquired Zephyr Development Corp., a Houston-based software developer. Terms of the deal were not disclosed. The Zephyr team has been folded into Newton, Mass.-based Rocket’s application development, integration and modernization business unit.
Communications firm ShoreTel Inc. picked up M5 Networks Inc. for $146.3 million. Payments include $84 million in cash and 9.5 million shares of ShoreTel stock. The deal, announced Wednesday, Feb. 1, also allows shareholders of New York-based M5 an additional contingent consideration of up to $13.7 million. Both companies provide cloud services in the form of voice over IP and unified communications.
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