TargetAcquirerValue ($millions)Synopsis
First Data CorpFiserv Inc21,649.6Fiserv Inc definitively agreed to merge with First Data Corp, a New York-based provider of electronic payment processing services, from Kohlberg Kravis Roberts & Co LP, owned by KKR & Co LP, and other shareholders via a stock swap transaction valued at USD 21.65 bil. The shares were valued based on Fiserv’s closing stock price of USD 75.04 on 15 January 2019, the last full trading day prior to the announcement, each First Data share was valued at USD 22.737. Upon completion of the deal, Fiserv and First Data shareholders will respectively own 57.5% and 42.5% stake of the merged entity.
Gannett Co IncMediaNews Group Inc1,358.321st CMH Acquisition Corp’s unit MediaNews Group Inc (MNG) plans to acquire the entire share capital of Gannett Co Inc, a Mclean-based newspaper publisher, for USD 12 in cash per share or a total of USD 1.358 bil via an unsolicited offer. Originally, MNG was rumored to be planning to acquire Gannett.
Discovery Benefits IncWEX Inc425.0WEX Inc agreed to acquire Discovery Benefits Inc, a Fargo-based employee benefits provider, for about USD 425 mil in cash.
Bluebird Network LLC-Fiber NetworkUniti Group Inc319.0Uniti Group Inc agreed to acquire the fiber network of Bluebird Network LLC, a Columbia-based telecommunications reseller, for USD 319 mil in cash.
Appriver LLCZix Corp275.0Zix Corp definitively agreed to acquire Appriver LLC, a Gulf Breeze-based provider of security systems services, from Marlin Equity Partners LLC for about USD 275 mil in cash.
Florida Chemical Co IncArcher Daniels Midland Co175.0Archer Daniels Midland Co definitively agreed to acquire Florida Chemical Co Inc, a Winter Haven-based organic chemicals manufacturer, from Flotek Industries Inc for about USD 175 mil in cash.
Entegra Financial CorpSmartFinancial Inc157.5SmartFinancial Inc definitively agreed to merge with Entegra Financial Corp, a Franklin-based savings institution, for USD 157.451 mil via a stock swap transaction. SmartFinancial offered 1.215 common shares for every Entegra common share held. The shares were valued based on SmartFinancial’s closing stock price of USD 18.4 on 14 January 2019, the last full trading day prior to the announcement.
Ashburn Farm Village Shopping Center,Ashburn,VAPhillips Edison Grocery Center REIT III Inc30.9Phillips Edison Grocery Center REIT III Inc acquired Ashburn Farm Village Shopping Center in Ashburn,VA for about USD 30.85 mil from First Washington Realty Trust Inc, owned by US Retail Partners LLC.
KAI Research IncTake Solutions Ltd27.0Take Solutions Ltd of India plans to acquire the entire share capital of KAI Research Inc, a Rockville-based provider of research and development services, from Altarum Institute LLC for about USD 27 mil in profit-related payments.
Graham Commercial Properties-2100 The Oaks ParkwayVallen Distribution Inc19.6Hagemeyer NV’s unit Vallen Distribution Inc acquired the 125,213 sq ft Class A warehouse 2100 The Oaks Parkway of Graham Commercial Properties, a Birmingham based provider of land subdivision services, for USD 19.55 mil.
Advertising Industry Mastermind Group-Promotional Products Distributors BusinessAltitude Group PLC5.0Altitude Group PLC of the UK plans to acquire the promotional products distributors business of Advertising Industry Mastermind Group, an advertising agency, for USD 5 mil.
Citizens Finance Co-Loan PortfolioAmerican Credit Acceptance LLC4.9American Credit Acceptance LLC acquired the loan portfolio of Citizens Finance Co, an Elmhurst-based commercial bank ultimately owned by Heartland Financial USA Inc, for USD 4.9 mil.
Craft Canning LLCEastside Distilling Inc4.9Eastside Distilling Inc acquired the entire share capital of Craft Canning LLC, a Portland-based brewery, for about USD 4.873 mil. The consideration consisted of USD 2 mil in cash, USD 0.8 mil note, and the issuance of 0.338 mil common shares valued at USD 2.073 mil. The shares were valued based on on Eastside’s closing stock price of USD 6.13 on 10 January 2019, the last full trading day prior to the announcement.
Parker Hannifin Corp-Precision Cooling BusinessAdvanced Cooling Technologies IncAdvanced Cooling Technologies Inc acquired the precision cooling business of Parker Hannifin Corp, a Cleveland-based industrial valves manufacturer.
Water Heating Technologies CorpAriston Thermo SpAAriston Thermo SpA of Italy agreed to acquire the entire share capital of Water Heating Technologies Corp, a Pomona-based manufacturer and seller of heating equipment, from Grupo Industrial Saltillo SAB de CV. Concurrently, Ariston agreed to acquire the entire share capital of Fluida SA de CV, Calentadores de America SA de CV and the property of Ingis SA de CV. The four transactions have a combined value of an estimated MXN 2.787 bil (USD 145.679 mil).
Marcon International IncASSA ABLOY ABASSA ABLOY AB of Sweden agreed to acquire Marcon International Inc, a Harrisburg-based manufacturer of electronic and mechanical key.
Air South Insurance IncAssuredPartners IncApax Partners LP’s unit AssuredPartners Inc acquired Dothan-based Air South Insurance Inc.
Barefoot & CoBMC Stock Holdings IncBMC Stock Holdings Inc acquired Barefoot & Co, a provider of windows, exterior doors, hardware, specialty products and installation services.
Afterburn Holdings LLCBrentwood Associates IncBrentwood Associates Inc acquired a majority interest in Afterburn Holdings LLC, a Houston-based operator of fitness and recreational sports center, via a leveraged buyout transaction.
Clarivate Analytics LLCChurchill Capital CorpChurchill Capital Corp definitively agreed to merge with Clarivate Analytics LLC, a Philadelphia-based internet service provider, via a leveraged buyout transaction from Onex Corp and Baring Private Equity Partners Ltd’s unit Baring Private Equity Asia Ltd.
Belanger IncDover CorpDover Corp plans to acquire Belanger Inc, a Northville-based car wash operator.
Mineralsoft IncDrillinginfo IncGenstar Capital LLC’s unit Drillinginfo Inc acquired Mineralsoft Inc, an Austin-based software publisher.
Deem IncEnterprise Holdings IncEnterprise Holdings Inc signed letter of intent to acquire Deem Inc, a San Francisco-based internet service provider.
1st Secure IT LLCGM Security Technologies IncGM Security Technologies Inc of Puerto Rico acquired 1st Secure IT LLC, a Coral Springs-based trade school operator.
Applied Physics Technologies IncHitachi High-Technologies CorpHitachi Ltd’s unit Hitachi High-Technologies Corp of Japan acquired the entire share capital of Applied Physics Technologies Inc, a McMinnville-based electronic components manufacturer.
Capax Global LLCHitachi Solutions America LtdHitachi Solutions Ltd’s unit Hitachi Solutions America Ltd acquired Capax Global LLC, a Chicago-based provider of data processing and hosting services.
Profile Products LLCIncline Management CorpIncline Management Corp acquired Profile Products LLC (PPL), a Buffalo Grove-based agricultural chemicals manufacturer, from Platte River Equity (PRE) via a secondary buyout transaction. Originally, an investor group, comprising PRE and PPL’s management team acquired PPL via a primary buyout transaction.
Technical Precision Plastics IncIntrapac International CorpOncap Management Partners LP’s unit Intrapac International Corp acquired Technical Precision Plastics Inc, a Mebane-based manufacturer of plastics packaging films and sheets.
Jacuzzi Brands CorpInvestindustrial IV LPInvestindustrial SA’s unit Investindustrial IV LP of Luxembourg definitively agreed to acquire Jacuzzi Brands Corp, a Chino Hills-based manufacturer of plumbing fixture fittings and trims, from Ares Management LP’s unit Ares Management LLC, Reservoir Capital Group LLC’s unit Clearlake Capital Group LP and Apollo Management LP, ultimately owned by Apollo Global Management LLC.
API Heat Transfer IncInvestor GroupAn investor group, comprising Guggenheim Partners LLC and Littlejohn & Co LLC, acquired a majority interest in API Heat Transfer Inc, a Buffalo-based heating equipment manufacturer, from Industrial Growth Partners LP.
Sage Group PLC-Sage Payroll SolutionsiSolved HCM LLCAccel-KKR LLC’s unit iSolved HCM LLC agreed to acquire the Sage Payroll Solutions of Sage Group PLC, a software reproducer in Newcastle Upon Tyne. Originally, in November 2018, iSolved announced that it was seeking a buyer for its Sage unit.
Renovis Surgical Technologies Inc-Certain Artificial Joint & Spinal Product AssetsKYOCERA International IncKYOCERA Corp’s unit KYOCERA International Inc agreed to acquire certain artificial joint & spinal product assets of Renovis Surgical Technologies Inc, a Redlands-based manufacturer of surgical appliance and supplies.
Affordable Suites Of America IncLindsay Goldberg LLCLindsay Goldberg LLC acquired Affordable Suites of America Inc, a Myrtle Beach-based hotel operator, via a leveraged buyout transaction.
Elemis USA IncL’Occitane International SAL’Occitane Groupe SA’s unit L’Occitane International SA of Luxembourg definitively agreed to acquire the entire share capital of Elemis USA Inc, a skincare products manufacturer, from Steiner Leisure Ltd, ultimately owned by L Catterton. Concurrently, L’Occitane definitively agreed to acquire the entire share capital of Elemis Ltd and Cosmetics Ltd. The three transactions will have a combined value of an estimated USD 900 mil in cash.
Bluebird Network LLCMacquarie Infrastructure Partners IncMacquarie Group Ltd’s unit Macquarie Infrastructure Partners Inc acquired Bluebird Network LLC, a Columbia-based telecommunications reseller.
MyAnimeList LLCMEDIA DO Holdings Co LtdMEDIA DO Holdings Co Ltd of Japan plans to acquire the entire share capital of MyAnimeList LLC, a San Francisco-based internet portal operator, from DeNA Co Ltd.
Aveda Corp-Aveda Institutes(2)Neill CorpNeill Corp plans to acquire 2 Aveda Institutes of Aveda Corp, a Blaine-based toilet preparations manufacturer ultimately owned by The Estee Lauder Cos Inc.
Ambassador Financial Group IncPNC Financial Services Group IncPNC Financial Services Group Inc definitively agreed to acquire Ambassador Financial Group Inc, an Allentown-based securities brokerage.
Encore Event TechnologiesPSAV IncPSAV Inc agreed to acquire Encore Event Technologies, an Arlington Heights-based event promoter, from Freeman Co.
SpeakerBox Communications LLCREQ IncREQ Inc acquired SpeakerBox Communications LLC, a Vienna-based provider of marketing consulting services.
Connect First IncRingCentral IncRingCentral Inc definitively agreed to acquire Connect First Inc, a Boulder-based provider of computer systems design services.
Undisclosed Data Centers(2),Chicago,IllinoisSafanad LtdSafanad Ltd acquired 2 data centers in Chicago, IL.
Summit Infrastructure Group IncSDC Capital Partners LLCSDC Capital Partners LLC plans to acquire a majority interest in Summit Infrastructure Group Inc, a Dulles-based wired telecommunications carrier, via a leveraged buyout transaction.
Neosho Capital LLC-Certain AssetsSilvercrest Asset Management Group LLCSilvercrest Asset Management Group LLC acquired certain assets of Neosho Capital LLC, a La Jolla-based investment advisor.
TernPro IncSmartsheet IncSmartsheet Inc acquired TernPro Inc, a Seattle-based software publisher.
Line Dragon LLCSomero Enterprises LLCSomero Enterprises LLC acquired Line Dragon LLC, a Narvon-based provider of concrete placing and hose dragging equipment.
Freedom Electronics IncSummit Park Partners LLCSummit Park Partners LLC acquired Freedom Electronics Inc, a Kennesaw-based bare printed circuit boards manufacturer, via a leveraged buyout transaction.
RxSolutionsTrialCard IncExcellere Partners LLC’s unit TrialCard Inc acquired RxSolutions, a Raleigh-based pharmaceutical preparations manufacturer.
Quickbase IncVista Equity Partners LLCVista Equity Partners LLC definitively agreed to acquire a majority interest in Quickbase Inc, a Cambridge-based provider of computer systems design services, via a leveraged buyout transaction from Welsh Carson Anderson & Stowe XII LP, ultimately owned by Welsh Carson Anderson & Stowe.
Southeastern Auto Auction IncXLerate GroupHuron Capital Partners LLC’s unit XLerate Group acquired Southeastern Auto Auction Inc, a Savannah-based wholesale trade agent.
Greater Peoria Auto AuctionXLerate GroupHuron Capital Partners LLC’s unit XLerate Group acquired Greater Peoria Auto Auction, a Morton-based motor vehicle wholesaler.
US M&A Deals Announced January 11 to 17, 2019
Source: Thomson Reuters