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The Weekly Wrap: Carlyle, Dentsply, IMG

Carlyle adds Coalfire; Dentsply purchases Sirona; IMG buys Miss Universe

TargetAcquirerValue ($millions)Synopsis
Cablevision Systems Corp Altice NV 9,945.8 Altice NV (Altice) of Netherlands definitively agreed to acquire the entire share capital of Cablevision Systems Corp (Cablevision Systems), a Bethpage-based provider of cable television services, for $34.9 in cash per share, or a total value of $9.946 billion. Originally, Altice was rumored to be planning to acquire the entire share capital of Cablevision Systems.
Sirona Dental Systems Inc Dentsply International Inc 5,484.1 DENTSPLY International Inc (DII) definitively agreed to merge with Sirona Dental Systems Inc (SDS), a Long Island City-based manufacturer and wholesaler of dental equipments, in a stock swap transaction valued at $5.484 billion via a merger of equals. DII offered 1.8142 common shares per SDS share. Based on DII's closing stock price of $53.62 on 14 September 2015, the last full trading day prior to the announcement, each SDS common share was valued at $92.277. Upon completion, DII and SDS shareholders were to own 58% and 42% of the merged entity to be named Dentsply Sirona, respectively.
Solera Holdings Inc Vista Equity Partners LLC 3,764.5 Vista Equity Partners LLC definitively agreed to merge with Solera Holdings Inc (Solera), a Westlake-based provider of computer programming and data processing services, for $55.85 in cash per share, or a total value of $3.764 billion in cash in a leveraged buyout transaction. Originally, in September 2015, was rumored to be seeking a buyer for the company. Thoma Bravo LLC and Vista Equity Partners were rumored as potential bidders.
Trilogy Investors LLC Trilogy Real Estate Investment Trust 1,125.0 Trilogy Real Estate Investment Trust, jointly-owned by Griffin-American Healthcare REIT III Inc and NorthStar Asset Management Group Inc, definitively agreed to acquire a 96.4% interest in Trilogy Investors LLC, a Chicago-based owner and operator of senior healthcare campuses and SNF properties, for an estimated $1.125 billion. The consideration was to consist of $919.9 million and the assumption of $205.1 million in liabilities.
TICC Capital Corp TPG Specialty Lending Inc 449.9 TPG Specialty Lending Inc (TPG) planned to acquire the entire share capital of TICC Capital Corp (TICC), a Greenwich-based business development company, in a stock swap transaction valued at $449.91 million via an unsolicited offer. TPG offered $7.5 common share for every TICC share held.
Schurz Communications Inc-Television and Radio Stations Gray Television Inc 442.5 Gray Television Inc agreed to acquire the television and radio stations of Schurz Communications Inc, a Mishawaka-news and information publishing company, for an estimated $442.5 million in cash.
Adept Technology Inc Omron Corp 199.3 Omron Corp of Japan agreed to acquire the entire share capital of Adept Technology Inc, a Pleasanton-based manufacturer and developer of automation products, for $13 in cash per share, a total value of $189.395 million via a tender offer.
One Source Networks Inc GTT Communications Inc 175.0 GTT Communications Inc (GTT) definitively agreed to acquire One Source Networks Inc, an Austin-based developer of cloud-based communications solutions, for an estimated $175 million. The consideration was to consist of an estimated $175 million in cash and $10 million in GTT common shares.
Matador Resources Co-Certain Natural Gas Gathering and Processing Assets EnLink Midstream Partners LP 143.0 EnLink Midstream Partners LP definitively agreed to acquire certain natural gas gathering and processing assets of Matador Resources Co, a Dallas-based producer of crude petroleum and natural gas, ultimately-owned by Chesapeake Louisiana LP, for an estimated $143 million.
Primatics Financial LLC SS&C Technologies Holdings Inc 122.0 SS&C Technologies Holdings Inc planned to acquire Primatics Financial LLC, a McLean-based provider of management consulting services, from The Carlyle Group LLC, a unit of The Carlyle Group LP, for an estimated $122 million.
InSite Vision Inc Ranbaxy Pharmaceuticals Inc 46.2 Ranbaxy Pharmaceuticals Inc, a unit of Ranbaxy Laboratories Ltd of India, ultimately-owned by Sun Pharmaceutical Industries Ltd, agreed to acquire the entire share capital of InSite Vision Inc (InSite), an Alameda-based manufacturer of ophthalmic products, for $0.35 in cash per share, or a total value of $46.183 million in cash via a tender offer. The offer was conditioned upon at least a majority of InSite shares being tendered.
Consolidated Systems Inc-Steel Decking Facilities Steel Dynamics Inc 45.0 Steel Dynamics Inc acquired steel decking facilities from Consolidated Systems Inc, a Columbia-based manufacturer of sheet metal works, for $45 million.
Reiten Television Inc-Television Stations(4) Nexstar Broadcasting Group Inc 44.0 Nexstar Broadcasting Group Inc definitively agreed to acquire four television stations of Reiten Television Inc, a Minot-based radio network, for $44 million.
NorthStar First Health LLC Constellation Healthcare Technologies Inc 18.0 Constellation Healthcare Technologies (Constellation) Inc acquired NorthStar First Health LLC, a revenue cycle management service provider, for $18 million. The consideration was to consist of $11.478 million in cash and 2.992 million ordinary shares valued at $6.522 million. The shares were valued based on Constellation's closing stock price of $2.18 on 15 September 2015, the last full trading day prior to the announcement.
First String Healthcare Inc AMN Healthcare Services Inc 10.5 AMN Healthcare Services Inc acquired First String Healthcare Inc, a Costa Mesa-based provider of interim staffing and permanent placement services, for $10.5 million. The consideration consisted of $6.5 million in cash and up to $4 million in profit-related payments.
Catalon Chemical Corp General Steel Holdings Inc 8.2 General Steel Holdings Inc (GS) of China agreed to acquire an 84.5% interest in Catalon Chemical Corp, a Winston Salem-based manufacturer of metal stampings, in exchange for 13 million GS ordinary shares valued at $8.191 million. The shares were valued based on GS's closing stock price of $0.63 on 15 September 2015, the last full trading day prior to the announcement.
Timberline Resources Corp Waterton Precious Metals Fund II Cayman LP 7.0 Waterton Precious Metals Fund II Cayman LP of Canada, a unit of Waterton Global Resource Management Inc, agreed to acquire the entire share capital of Timberline Resources Corp, a Coeur D'Alene-based gold ore mine operator, for $0.58 in cash per share, or a total value of $6.96 million in a leveraged buyout transaction.
Cloud Sherpas Inc Accenture PLC   Accenture PLC of Republic of Ireland agreed to acquire Cloud Sherpas Inc, an Atlanta-based provider of cloud advisory and technology services. Terms were not disclosed.
Mformation Software Technologies Inc Alcatel Lucent SA   Alcatel Lucent SA of France acquired Mformation Software Technologies Inc, a Woodbridge-based developer of device management software, from Clearlake Capital Group LP, ultimately-owned by Reservoir Capital Group LLC. Terms were not disclosed.
Starz AMC Networks Inc   AMC Networks Inc was rumored to be planning to acquire the entire share capital of Starz, an Englewood-based provider of cable television services.
Norandex Building Materials Distribution Inc American Builders & Contractors Supply Co Inc   American Builders & Contractors Supply Co Inc definitively agreed to acquire Norandex Building Materials Distribution Inc, a Hudson-based wholesaler of exterior building products, from Cie de Saint-Gobain SA.
Ian-Conrad Bergan LLC Andrew W Byrd & Co LLC   Andrew W Byrd & Co LLC acquired Ian-Conrad Bergan LLC, a Pensacola-based manufacturer and wholesaler of marine cargo monitoring and gauging equipment, in a leveraged buyout transaction. Terms were not disclosed.
Mapsense Inc Apple Inc   Apple Inc was rumored to be planning to acquire Mapsense Inc, a San Francisco-based developer of mapping visualization software.
E-on Software Inc Bentley Systems Inc   Bentley Systems Inc acquired E-on Software Inc, a Beaverton-based developer and wholesaler of 3D graphics software.
Affordable Care Inc Berkshire Partners LLC   Berkshire Partners LLC was rumored to be planning to acquire Affordable Care Inc, a Raleigh-based provider of dental management services, in a leveraged buyout transaction. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $800 million.
Draker Inc-Monitoring Platform and Certain Assets BlueNRGY Group Ltd   BlueNRGY Group Ltd of Australia acquired monitoring platform and certain assets of Draker Inc, a Burlington-based provider of solar power systems monitoring and control services.
Cargill Inc-Small Pack Specialty Business Brenntag AG   Brenntag AG of Germany acquired the small pack specialty business of Cargill Inc, a Minneapolis-based producer and wholesaler of grain and field beans, soybean oils, baked goods, cereals, beverages, chocolates, dairy, poultry, snacks, wet milled corn products, prepared animal feeds and meat products.
Virpus Networks LLC Cloud Equity Group LLC   Cloud Equity Group LLC acquired Virpus Networks LLC, a Kansas City-based provider of web hosting services, from Wow Technologies Inc in a leveraged buyout transaction. Terms were not disclosed.
Contingent Network Services LLC Comcast Corp   Comcast Corp acquired Contingent Network Services LLC, a West Chester-based provider of wide area network management services.
Wheaton Industries Inc DURAN Group GmbH   DURAN Group GmbH of Germany, a unit of One Equity Partners LLC, acquired Wheaton Industries Inc (Wheaton), a Millville-based manufacturer of glass containers, from PNC Equity Partners II LP (PNC), ultimately-owned by Incline Equity Partners. Originally, in January 2015, PNC announced that it was seeking a buyer for Wheaton.
Demibooks Inc Educational Development Corp   Educational Development Corp acquired Demibooks Inc, a Chicago-based developer of software.
Chiefton Supply Co LLC General Cannabis Corp   General Cannabis Corp signed a letter of intent to acquire Chiefton Supply Co LLC, a Denver-based manufacturer and wholesaler of men's and women's apparel.
Truck Bodies & Equipment International Inc GenNx360 Capital Partners LLC   GenNx360 Capital Partners LLC planned to acquire Truck Bodies & Equipment International Inc, a Beachwood-based manufacturer of dump bodies, landscape bodies, platforms, hoists and truck and trailer equipment and accessories, from Kirtland Capital Partners in a leveraged buyout transaction.
Skylight Healthcare Systems Inc GetWellNetwork Inc   GetWellNetwork Inc, a unit of Welsh Carson Anderson & Stowe, acquired Skylight Healthcare Systems Inc, a San Diego-based developer of software.
Cloud62 Inc Huron Consulting Group Inc   Huron Consulting Group Inc agreed to acquire Cloud62 Inc, a Buffalo-based provider of cloud-based application implementation services. Terms were not disclosed.
Global Shippers Association LLC IMC Global Solutions   IMC Global Solutions, a unit of IMC Cos, acquired Global Shippers Association LLC, a Lenoir-based provider of logistics services.
Miss Universe LP IMG Worldwide Inc   IMG Worldwide Inc acquired Miss Universe LP, a New York-based provider of international beauty competition organizing services, from Donald Trump.
Coalfire Systems Inc Investor Group   An investor group comprised of The Carlyle Group LP and Chertoff Group LLC acquired an undisclosed majority interest in Coalfire Systems Inc, a Louisville-based provider of information technology audit, security and compliance services.
Theiss Aviation Inc Lauren International Ltd   Lauren International Ltd acquired Theiss Aviation Inc (Theiss), a North Benton-based manufacturer of unmanned aerial vehicles. On completion, Theiss was renamed Theiss UAV Solutions LLC.
First Carolina Corp Credit Union Mid-Atlantic Corp Federal Credit Union   Mid-Atlantic Corp Federal Credit Union agreed to merge with First Carolina Corp Credit Union, a Greensboro-based credit union.
Murray Supply Co LLC MORSCO Inc   MORSCO Inc, a unit of Advent International Corp, acquired Murray Supply Co LLC, a Winston-Salem-based plumbing and heating equipment and supplies merchant wholesaler.
Insignis Inc MSCI Inc   MSCI Inc definitively agreed to acquire Insignis Inc, a Chicago-based provider of outsourced data management services. Terms were not disclosed.
Feingold O'Keeffe Capital LLC NewStar Financial Inc   NewStar Financial Inc definitively agreed to acquire Feingold O'Keeffe Capital LLC, a Boston-based provider of alternative asset management services.
IHM Services Co Inc Persivia   Persivia acquired IHM Services Co Inc, a Burlington-based provider of clinical intelligence solutions services.
Capsule Tech Inc Qualcomm Life Inc   Qualcomm Life Inc, a unit of Qualcomm Inc, acquired the entire share capital of Capsule Tech Inc, an Andover-based medical equipment and supplies merchant wholesaler, from Turenne Investissement SA, ultimately-owned by Turenne Capital Partenaires SA.
Maggie Creek Project Renaissance Gold Inc   Renaissance Gold Inc acquired Maggie Creek Project, located in Nevada.
Zonetail Inc Revelstoke Equity Inc   CANADA - Revelstoke Equity Inc signed a letter of intent to merge with Zonetail Inc, a Toronto-based developer of mobile application software.
Air Product & Chemicals Inc-Materials Technologies Business Shareholders   Air Products & Chemicals Inc, an Allentown-based manufacturer and wholesaler of industrial chemicals, planned to spin off its materials technologies business to its shareholders.
Looksery Inc Snapchat Inc   Snapchat Inc acquired Looksery Inc, a San Francisco-based developer of mobile application software.
Unwind Me Soothe Inc   Soothe Inc acquired Unwind Me, a San Francisco-based provider of personal massage services.
Architectural Railings & Grilles Inc Staging Concepts Inc   Staging Concepts Inc, a unit of Blackford Capital LLC, acquired Architectural Railings & Grilles Inc, a Fort Mill-based manufacturer of welded aluminum, glass and stainless steel railing systems.
Tuee Inc Stealz Inc   Stealz Inc acquired Tuee Inc, a Durham-based developer of digital guest relationship management system applications. Terms were not disclosed.
University Courtyard,Lubbock,Texas Vesper Holdings LLC   Vesper Holdings LLC acquired University Courtyard, a Lubbock-based apartment complex.
Bevo Media LLC Vize Capital   Vize Capital acquired Bevo Media LLC, a Santa Clara-based developer of software, in a leveraged buyout transaction.
US M&A Deals Announced September 13-September 18, 2015      
Source: Thomson Reuters      

 

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