February M&A buyers: Canaccord Genuity, Cisco, Platinum Equity

watersprinklers
sprinkler of automatic watering

February was an active month for middle-market M&A, with deals closed by 3M Co. (NYSE: MMM), Cisco Systems Inc. (Nasdaq: CSCO) and Platinum Equity.

3M bought MModal's technology business for $1 billion. Cisco paid $600 million for semiconductor company Luxtera. Canaccord Genuity Group acquired middle-market investment bank Petsky Prunier for up to $85 million. On the PE side, Platinum Equity bought Pro-Mark, which makes sprinkler systems under the Hyrdro-Rain and Orbit Irrigation brands.

Editor's Note: To measure activity in the middle market, Mergers & Acquisitions looks at transactions that fulfill several requirements: Deals must have a value of roughly $1 billion or less; they must be completed (not just announced) within the timeframe designated; the coverage is global. Excluded from our charts are: recapitalizations; self-tenders; exchange offers; repurchases; stake purchases; and transactions with undisclosed buyers or sellers. Our data provider is Thomson Reuters, which updates its databases continuously. We use the data available at press time. The data for this article was gathered on March 6, 2019.

Related: Thoma Bravo, Sonic Healthcare and Staples closed big deals in January.
Related: M&A soared in 2018; companies confident about dealmaking in 2019.

Key Middle-Market M&A Deals Completed in February 2019
Acquirer Target Target Industry Value ($mil)
3M Co MModal IP-Technology Business Business Services 1,000.0
Cleco Corporate Hldg LLC NRG South Central Gen LLC Electric, Gas, and Water Distribution 1,000.0
Daikin Europe NV AHT Cooling Systems GmbH Machinery 999.1
Wework Ppty Advisors Llc Hudsons Bay Co-Lord & Taylor Retail Trade-General Merchandise and Apparel 850.0
Cisco Systems Inc Luxtera Inc Electronic and Electrical Equipment 660.0
HollyFrontier LSP Holdings LLC Sonneborn LLC Chemicals and Allied Products 655.0
Ingevity Corp Perstorp UK Ltd Chemicals and Allied Products 649.5
Platinum Equity LLC Lonza Grp AG-Water Care Bus Un Chemicals and Allied Products 630.0
Union Bankshares Corp Access National Corp Savings and Loans, Mutual Savings Banks 613.9
Keppel Infrastructure Trust Ixom HoldCo Pty Ltd Chemicals and Allied Products 562.1
TAL Dai-ichi Life Australian Suncorp Life & Superannuation Insurance 538.7
KKR Asian Fund III LP Ramky Enviro Engineers Ltd Sanitary Services 530.0
SF Hldg Ltd DHL Supply Chain (Hong Kong) Transportation and Shipping (except air) 526.6
Fabulous New Ltd Twinpeak Assets Ltd Construction Firms 498.5
Vermont Aus Pty Ltd Greencross Ltd Agriculture, Forestry, and Fishing 481.2
Equinor ASA Danske Commodities A/S Investment & Commodity Firms,Dealers,Exchanges 467.6
China Resources Pharm Hldg Co Jiangxi Jiangzhong Pharm Drugs 461.8
Investor Group Meritage Midstream ULC Oil and Gas; Petroleum Refining 449.0
Tiza Info Ind Corp Inc Shenzhen Youkeshu Tech Co Ltd Business Services 436.0
Kofax Ltd Nuance Comm-Doc Imaging Div Business Services 400.0
Altas Partners LP Univ Of St. Augustine For Educational Services 400.0
Tritax Symmetry Ltd Barwood Developments Ltd Real Estate; Mortgage Bankers and Brokers 387.0
Eclipse Resources Corp Blue Ridge Mtain Resources Inc Oil and Gas; Petroleum Refining 378.6
iAnthus Capital Holdings Inc MPX Bioceutical Corp Drugs 378.0
Banco Santander(Brasil)SA Getnet Adquirencia E Servicos Business Services 365.9
Mercer Global Advisors Inc Arbor Asset Management LLC Business Services 350.0
Zurich Insurance Co Ltd Qbe Ins Grp Ltd-Latin Amer Op Insurance 350.0
Ensign Energy Services Inc Trinidad Drilling Ltd Oil and Gas; Petroleum Refining 349.5
MB 550 TFB Inc 550 Terry Francois Blvd,CA Real Estate; Mortgage Bankers and Brokers 342.5
Amedisys Inc Compassionate Care Hospice Health Services 340.0
ArcLight Capital Partners LLC Sempra Energy-US N Gas Storage Transportation and Shipping (except air) 332.0
Central Puerto SA IEASA-Brigadi Electric, Gas, and Water Distribution 326.0
Tilray Inc Fresh Hemp Foods Ltd Food and Kindred Products 317.3
Investor Group DEN Networks Ltd Radio and Television Broadcasting Stations 311.6
William Hill Hldg Ltd Mr Green & Co AB Business Services 307.2
Busey Bank,Urbana,IL Banc Ed Corp Commercial Banks, Bank Holding Companies 304.9
InterContinental Hotels Grp Six Senses Hotels Resorts Spas Hotels and Casinos 300.0
Elad Genesis LP Agellan Commercial REIT Investment & Commodity Firms,Dealers,Exchanges 287.9
SF Hldg Ltd DHL Logistics (Beijing) Co Ltd Transportation and Shipping (except air) 265.0
Related Cos LP Truffles Tribeca Real Estate; Mortgage Bankers and Brokers 260.0
ERG Solar Montalto Srl Perseo Srl Electric, Gas, and Water Distribution 254.1
The Descartes Sys Grp Inc MSR Customs Corp Prepackaged Software 249.7
Wilton Resources Hldg Pte Ltd PT Renuka Coalindo Tbk Mining 248.6
AXA Real Estate Invest Mgrs SA Abu Dhabi Invest Auth-Olympic Hotels and Casinos 236.7
Tamedia AG Goldbach Group AG Business Services 226.1
Teledyne Technologies Inc Roper Tech Inc-Scientific Measuring, Medical, Photo Equipment; Clocks 225.0
Nasdaq Technology AB Cinnober Finl Tech AB Prepackaged Software 218.5
InvaGen Pharmaceuticals Inc Avenue Therapeutics Inc Drugs 215.0
Natl Wstn Life Ins Co Ozark Natl Life Ins Co Insurance 203.0
K1 Investment Management LLC Jobvite Inc Prepackaged Software 200.0
Finning International Inc 4refuel Canada LP Business Services 195.2
Tyler Technologies Inc MicroPact Inc Business Services 185.0
Grupo Catalana Occidente SA Antares SA Insurance 183.9
Press Metal Bintulu Sdn Bhd Japan Alumina Investment & Commodity Firms,Dealers,Exchanges 178.5
Altifort France SAS Ascoval SAS Metal and Metal Products 172.9
Cedacri SpA Oasi SpA Business Services 171.6
Sarepta Therapeutics Inc Myonexus Therapeutics Inc Drugs 165.0
Investor Group Hathway Cable & Datacom Ltd Radio and Television Broadcasting Stations 160.7
Pentair PLC Aquion Inc Machinery 160.0
Inside Secure SA Verimatrix Inc Prepackaged Software 158.0
PCT2 Holdings Hitachi Automotive Sys Measuring, Medical, Photo Equipment; Clocks 154.2
Healthcare & Med Invest Corp Sumitomo Mitsui Fin-Property Real Estate; Mortgage Bankers and Brokers 146.0
Tronox Ltd Tronox Sands LLP Mining 145.8
Marcus Theatres Corp Movie Tavern Motion Picture Production and Distribution 139.0
Fabege AB Vasakronan-office properties Real Estate; Mortgage Bankers and Brokers 136.1
Cincinnati Financial Corp MSP Underwriting Ltd Insurance 135.0
Paddy Power Betfair PLC Atlas LLC Business Services 132.3
Elm Bidco LP GBGI LTD Insurance 131.8
Wonik Ips Co Ltd Wonik Tera Semicon Co Ltd Machinery 131.3
Birch Hill Eq Partners Mgmt Altagas Ltd-Non Core Oil and Gas; Petroleum Refining 125.4
GNCC Capital Inc BioCann Pharma SAS Drugs 120.0
Comstock Dvlp Svcs LC JBG Smith Ppty-Commerce Metro Real Estate; Mortgage Bankers and Brokers 115.0
Mid Europa Partners LLP Intive SA Prepackaged Software 113.6
BLDG Management Co Liaison Capitol Hill Hotels and Casinos 111.0
GTY Technology Holdings Inc Bonfire Interactive Ltd Prepackaged Software 108.0
The Walden Grp Varden Capital Ppty-Apt Real Estate; Mortgage Bankers and Brokers 106.7
GTY Technology Holdings Inc CityBase Inc Business Services 106.0
Bb Electronics A/S Wendell Electronics A.S Electronic and Electrical Equipment 105.0
ESCON JAPAN REIT Investment Co ES-CON JAPAN Ltd-RE Real Estate; Mortgage Bankers and Brokers 104.6
GrandVision NV Optica 2000 SL Miscellaneous Retail Trade 102.1
Fanzzlids Holdings LLC Hat World Inc Retail Trade-General Merchandise and Apparel 101.0
GTY Technology Holdings Inc eCivis Inc Prepackaged Software 100.0
JB Hunt Transport Services Inc Joseph Cory Holdings LLC Transportation and Shipping (except air) 100.0
Invenire Energy Pvt Ltd Tata Petrodyne Ltd Oil and Gas; Petroleum Refining 100.0
Cobra Instalaciones Y Bow Power SL Electric, Gas, and Water Distribution 96.8
Step Famous Invest Ltd Rivera(Holdings)Ltd Real Estate; Mortgage Bankers and Brokers 91.8
Olam International Ltd YTS Holdings Pte Ltd Food and Kindred Products 90.0
Euromoney Institutional Inv The Deal LLC Printing, Publishing, and Allied Services 87.3
One World Pharma Inc One World Pharma SAS Drugs 86.8
Agile Pharma BV Apotex-Coml Op,Europe Drugs 86.5
Canaccord Genuity Group Inc Petsky Prunier LLC Investment & Commodity Firms,Dealers,Exchanges 85.0
Winnipeg Participations Harvest SA Prepackaged Software 82.5
GTY Technology Holdings Inc Questica Inc Prepackaged Software 80.4
Green Thumb Industries Inc Advanced Grow Labs LLC Drugs 80.0
SPX Corp Carmanah Tech-Marine Business Electronic and Electrical Equipment 77.0
SPX Corp Sabik-Group Oy Electronic and Electrical Equipment 77.0
bioMerieux SA Invisible Sentinel Inc Health Services 75.0
Investcorp International Inc Bascom Group-Apartment Complex Real Estate; Mortgage Bankers and Brokers 72.3
Seoul Broadcasting System Corp Sbs Contents Hub Co Ltd Motion Picture Production and Distribution 72.1
Alconix Corp Fuji Carbon Mnfg Co Transportation Equipment 71.8
Arima Real Estate SOCIMI SA Office Buildings,Madrid(2) Real Estate; Mortgage Bankers and Brokers 71.3
Arima Real Estate SOCIMI SA Blackstone Grp Lp-Office Real Estate; Mortgage Bankers and Brokers 71.2
TheFace Shop Korea Co Ltd Avon Manufacturing (Guangzhou) Soaps, Cosmetics, and Personal-Care Products 71.0
Ansell Ltd Ringers Technology LLC Textile and Apparel Products 70.0
Administradora de Fondos Sociedad Inmobiliaria Cntrl Real Estate; Mortgage Bankers and Brokers 70.0
Capital Square Realty Adv LLC Bellemeade Farms Apartments Real Estate; Mortgage Bankers and Brokers 69.8
Shiji Coml Info Tech Co Ltd Qingdao Hisense Intelligent Computer and Office Equipment 68.4
Cape Methystone No. 1 Private Coasia Holdings Co Ltd Investment & Commodity Firms,Dealers,Exchanges 66.9
InterEnergy Holdings Inc Grenergy-Solar Plants Electric, Gas, and Water Distribution 66.5
Pipeline Foods LLC SunOpta-Soy & Corn Business Food and Kindred Products 66.5
WiseTech Global Ltd Containerchain (Singapore) Transportation and Shipping (except air) 65.9
Kratos Defense & Security Florida Turbine Technologies Machinery 64.4
Ramelius Resources Ltd Explaurum Ltd Mining 63.9
EbixCash World Money Ltd Weizmann Forex Ltd Other Financial 63.2
Tilray Inc Natura Naturals Holdings Inc Drugs 52.7
Shijiazhuang Tonhe Electn Co Xi'an Huowei Battery Co Ltd Electronic and Electrical Equipment 52.2
Multi Market Svcs France Hldg Soft Computing SA Business Services 49.4
G9 Asia I Pte Ltd KSH Infra Pvt Ltd Real Estate; Mortgage Bankers and Brokers 49.3
Hoban Construction Co Ltd Duck Pyung CC Amusement and Recreation Services 49.1
Graham Commercial Properties Nport Logistics Ctr Transportation and Shipping (except air) 49.0
Davy Fund Navan Town Centre Real Estate; Mortgage Bankers and Brokers 48.7
Weiss Technik N America Inc Cincinnati Sub Zero Prod Llc Measuring, Medical, Photo Equipment; Clocks 47.5
LiveTiles Ltd Wizdom A/S Prepackaged Software 46.2
Dermot Co Inc Pointe at Crabtree,Raleigh,NC Real Estate; Mortgage Bankers and Brokers 46.1
Cbre Global Investors LLC Exe Hotels SL-Moncloa Hotels and Casinos 45.4
Adecoagro SA Sancor-Production Plants(2) Food and Kindred Products 45.0
Posco Engineering & Posmate Co Ltd Business Services 43.8
European Ppty Invs Special Wolseley UK-Bussines Estate Transportation and Shipping (except air) 43.7
LDK Healthcare Pty Ltd Sakkara Invest Hldg Pty Ltd Health Services 43.0
Crescent Real Estate LLC Wshore Grand Hotels and Casinos 42.7
Chartwell Holdings LLC Lenox at Patterson Place,NC Real Estate; Mortgage Bankers and Brokers 42.0
Able C & C Co Ltd Gm Hldg Co Ltd Soaps, Cosmetics, and Personal-Care Products 41.5
Springfield Properties PLC Walker Holdings (Scotland) Ltd Construction Firms 40.6
Chin Hong Invests Corp Pty Inala Plaza Shopping Centre Real Estate; Mortgage Bankers and Brokers 40.5
The Sterling Organization LLC King Farm Village Center Real Estate; Mortgage Bankers and Brokers 40.0
RedPeak Properties LLC Multifamily Ppty(6) Real Estate; Mortgage Bankers and Brokers 39.0
Bank of Commerce Holdings,CA Merchants Holding Co Commercial Banks, Bank Holding Companies 38.3
Felton Ppty Inc Office Bldg Portfolio(6) Real Estate; Mortgage Bankers and Brokers 37.7
ALS Ltd Marrs Internacional SPA Business Services 36.2
IGC Resources Inc Canndara Canada Inc Miscellaneous Retail Trade 35.9
Uamco Corp Rebounce No.7 Papercorea Inc Paper and Allied Products 35.6
Sheridan RE Invest A LLC 20311 Sheridan St,FL Real Estate; Mortgage Bankers and Brokers 35.0
Sekisui Plastics Europe Gmbh Proseat GmbH & Co KG Transportation Equipment 34.7
Deutsche Industrie Reit-Ag Coml Ppty In Essingen Aalen Real Estate; Mortgage Bankers and Brokers 34.5
MedMen Enterprises Inc Kannaboost Tech Inc Health Services 33.5
Publicis Groupe SA Walker Media Ltd Advertising Services 32.8
Goldenmax Intl Tech Ltd Guangxi Chanfang Pharm Co Ltd Drugs 32.1
Cantel Medical Corp Omnia Spa Measuring, Medical, Photo Equipment; Clocks 31.9
Mr. Yang Longfei LT Intl Invest Hldg LTD Investment & Commodity Firms,Dealers,Exchanges 31.6
Jiangzhong Pharm Co Ltd Jiangxi Nanchang Jisheng Drugs 31.0
Drillinginfo Inc Cortex Business Solutions Inc Prepackaged Software 30.8
Champlain Broadband LLC City of Burlington-Burlington Radio and Television Broadcasting Stations 30.8
Trichome Financial Corp 180 Smoke Vape Store Tobacco Products 30.7
Western Forest Products Inc Columbia Vista Corp Wood Products, Furniture, and Fixtures 30.5
Duke Royalty Ltd Capital Step Holdings Ltd Investment & Commodity Firms,Dealers,Exchanges 30.3
Verano Hldg Inc Four Daughters Compassionate Agriculture, Forestry, and Fishing 30.0
Prosegur SIS USA Inc Command Security Corp Business Services 29.8
Hill & Smith Holdings PLC ATG Access Ltd Metal and Metal Products 29.4
GTY Technology Holdings Inc Open Counter Enterprises Inc Prepackaged Software 29.3
YMP RE Mgmt LLC Lakeshore Bus Ctr,FL Real Estate; Mortgage Bankers and Brokers 29.3
Yongsheng Advanced Materials Summer Power Intl Inc Construction Firms 28.9
ADB Safegate BVBA Ultra Electns Ltd-Airport Syst Air Transportation and Shipping 28.6
China Yuhua Educ Invest Ltd Thai Education Holdings Co Ltd Educational Services 27.9
KPM Tech Co Ltd Cos Investment Co Ltd Investment & Commodity Firms,Dealers,Exchanges 27.8
Healthcare & Med Invest Corp Godo Kaisha MYGK1 Go-Property Real Estate; Mortgage Bankers and Brokers 27.2
LafargeHolcim Ltd Transit Mix Concrete Co Stone, Clay, Glass, and Concrete Products 27.0
Regional REIT Ltd Norfolk House Real Estate; Mortgage Bankers and Brokers 26.2
M Group of Cos Pty Ltd Pialba Place Shopping Centre,B Real Estate; Mortgage Bankers and Brokers 25.7
IMR Asia Holdings Pte Ltd Black Ginger 461 Pty Ltd Mining 25.4
Investor Group Lsop Nc Llc- Office Bldg Real Estate; Mortgage Bankers and Brokers 25.0
Plainville Brands Llc Plainville Farms LLC Agriculture, Forestry, and Fishing 25.0
Rural Funds Trust Cobungra Station Pty Ltd Agriculture, Forestry, and Fishing 24.8
Guangdong Green Fin Invest Shenzhen Juzhitong Info Tech Business Services 24.6
Duckworth Capital Corp Goldspot Discoveries Inc Mining 24.5
Smhiplus Corp Dong Gang Cistar Co Ltd Hotels and Casinos 23.9
Jiangzhong Pharm Co Ltd Jiangxi Nanchang Sanhai Drugs 23.8
RPS Group PLC Corview Grp Pty Ltd Investment & Commodity Firms,Dealers,Exchanges 23.3
InvenTrust Properties Corp Commons At Univ Place Real Estate; Mortgage Bankers and Brokers 23.3
True North Fund VI LLP Shree Digvijay Cement Co Ltd Stone, Clay, Glass, and Concrete Products 23.1
Investor Group Pt Formosa Bag Indonesia Leather and Leather Products 22.8
Noble Elite Global Ltd Dong Tai You Bang Wu Liu (Hai Transportation and Shipping (except air) 22.2
Pareteum Corp iPass Inc Business Services 21.9
Univ View Apartments Funding Univ View Boca Raton Fl Real Estate; Mortgage Bankers and Brokers 20.8
Garofalo Health Care SpA Poliambulatorio Dalla Rosa Health Services 20.4
Investor Group Terminal Puerto De Arica SA Transportation and Shipping (except air) 20.3
Nordisk Bergteknik AB Palab Holding AB Construction Firms 19.9
Healthcare & Med Invest Corp Godo Kaisha MYGK2 Go-Property Real Estate; Mortgage Bankers and Brokers 19.2
Viridium Pacific Group Ltd EFX Labs Business Services 19.2
M&N Participacoes SA Usina Giasa Ltda Chemicals and Allied Products 18.6
Treehouse Reit Medmen Entrps Inc-Cannabis Wholesale Trade-Nondurable Goods 18.4
Miraca Holdings Inc Selmesta Co Ltd Wholesale Trade-Nondurable Goods 18.2
Charter Hall Retail REIT Austral Hotel,Mackay,QLD Hotels and Casinos 18.1
Fillmore Capital Partners LLC Ppty Portfolio(3) Real Estate; Mortgage Bankers and Brokers 17.8
Swift Networks Group Ltd Medical Channel Pty Ltd Advertising Services 17.4
Kagiso Media Ltd Jacaranda Fm Pty Ltd Radio and Television Broadcasting Stations 17.1
Arena REIT Ltd USDAP,Adelaide,SA(3) Social Services 17.1
Hwashin Tech Co Ltd Ge Solar Co Ltd Electronic and Electrical Equipment 16.9
Exquisite Honor Hldg Ltd Yicko Securities Ltd Investment & Commodity Firms,Dealers,Exchanges 16.8
AF Blakemore & Son Ltd Philpotts Ltd-Prprd Food Stors Retail Trade-Food Stores 16.7
Investor Group Omron Nohgata Corp Computer and Office Equipment 16.3
Gofore Oyj Silver Planet Oy Prepackaged Software 16.1
Avantium NV Synvina CV Rubber and Miscellaneous Plastic Products 15.6
Magma Equities Llc Stonesthrow Apartments,NC Real Estate; Mortgage Bankers and Brokers 15.4
Neoway Tecnologia Integrada Sevennova Tecnology Ltda Business Services 15.0
Kitron Inc API Defense USA Inc Electronic and Electrical Equipment 14.8
Warehouse Reit PLC Airport Industrial-Air Cargo Transportation and Shipping (except air) 14.5
AA PLC Prestige Fleet Servicing Ltd Repair Services 14.2
57-59 Philbeach Gardens Ltd Beaver Hotels Ltd Hotels and Casinos 13.0
Nordic Waterproofing Holding Distri Pond NV Wholesale Trade-Nondurable Goods 12.8
Hebei Mingzhi Future Med Tech Beijing Mingan Hosp Mgmt Co Health Services 12.6
PlayAGS Inc Integrity Gaming Corp Business Services 12.1
Tiger Resort Asia Ltd Asiabest Grp Intl Inc Investment & Commodity Firms,Dealers,Exchanges 12.0
Kossen Co Ltd Upex Med Co Ltd Measuring, Medical, Photo Equipment; Clocks 11.8
Instituto Hermes Pardini SA Psychemedics Brasil Exames Health Services 11.7
Shelby Finance Ltd CURO Transatlantic-Certain Ass Credit Institutions 11.1
Peak Prospect Global Ltd Polyworld Marine Corp Transportation and Shipping (except air) 11.0
Lorenzo Entrps FL Corp Power Nissan LLC-Fort Miscellaneous Retail Trade 11.0
Pt Adi Sarana Lelang PT JBA Indonesia Wholesale Trade-Durable Goods 10.4
Partner One Software Inc Assima PLC Prepackaged Software 10.3
TECSYS Inc PCSYS A/S Business Services 10.3
Tqsr Hldg And Dvlp Gmbh Rosenberger Restaurant GmbH Retail Trade-Eating and Drinking Places 10.2
Morningstar Japan KK Carret Holdings Inc Investment & Commodity Firms,Dealers,Exchanges 10.0
GTY Technology Holdings Inc Sherpa Govt Solutions Llc Prepackaged Software 10.0
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