TargetAcquirerValue ($millions)Synopsis
General Electric Co-Transportation BusinessWestinghouse Air Brake Technologies Corp11,100.00Westinghouse Air Brake Technologies Corp (WABTEC) definitively agreed to acquire the transportation business of General Electric Co (GE), a Boston-based manufacturer of power, distribution and specialty transformers, for about $11.1 billion. The consideration will consist of $2.9 billion in cash and the issuance of common shares valued at $8.2 billion. Upon completion of the deal, Wabtec and GE shareholders will respectively own 49. 9% stake and 50.1% of the combined entity. In February 2018, GE announced that it was seeking buyer for its transportation business, with Wabtec named as a potential bidder.
Gulf Power Co700 Universe LLC5,750.00700 Universe LLC, a unit of NextEra Energy Inc, definitively agreed to acquire the entire share capital of Gulf Power Co, a Pensacola-based manufacturer of power, distribution and specialty transformers, from Southern Co, for $5.75 billion. Concurrently, NextEra definitively agreed to acquire Pivotal Utility Holdings Inc, Southern Co- Florida LLC and Southern Co- Oleander LLC.
MB Financial IncFifth Third Bancorp,Cincinnati,Ohio4,599.104Fifth Third Bancorp definitively agreed to acquire the entire share capital of MB Financial Inc, a Chicago-based savings institution, for $4.599 billion. The consideration will consist of $5.540 cash per share and 1.45 in common share per MB share. Based on Fifth’s closing stock price of $33.56 on 18 March 2018, the last full trading prior to the announcement, each MB share was valued at 54.202.
LaSalle Hotel PropertiesBlackstone Real Estate Partners VIII LP3,697.814Blackstone Real Estate Partners VIII LP, a unit of Blackstone Group LP, definitively agreed to acquire the entire share capital of LaSalle Hotel Properties, a Bethesda-based lessor of nonresidential buildings, for $33.50 in cash per share or $3.698 billion. Originally, Pebblebrook Hotel Trust plans to launch an unsolicited tender offer to merge with LaSalle for a thrice sweetened offer of $4.063 bil.
Ipreo LLCIHS Markit Ltd1,855.00IHS Markit Ltd of the UK, definitively agreed to acquire the entire share capital of Ipreo LLC, a New York-based provider of financial information services, from Blackstone Group LP and Goldman Sachs Group Inc for about $1.855 billion in cash.
X.commerce IncAdobe Systems Inc1,680.00Adobe Systems Inc definitively agreed to acquire X.commerce Inc, a Campbell-based internet service provider, for about $1.68 billion from Permira Advisers LLP, owned by Permira Advisers Holdings Ltd.
PowerPlan IncRoper Technologies Inc1,100.00Roper Technologies Inc definitively agreed to acquire PowerPlan Inc, an Atlanta-based software publisher, from Thoma Bravo LLC, for $1.1 billion in cash.
Guaranty BancorpIndependent Bank Group Inc1,036.694Independent Bank Group Inc definitively agreed to merge with Guaranty Bancorp, a Denver-based commercial bank, for $1.037 billion via a stock swap transaction. Independent offered 0.45 common shares per Guaranty’s common share, based on Independent’s closing stock price of $78.6 on 21 May 2018, the last full trading day prior to the announcement, each of Guaranty’s share was valued at $35.37.
Taylor CoThe Middleby Corp1,000.00The Middleby Corp definitively agreed to acquire Taylor Co, a Rockton-based manufacturer of automatic vending machines, for $1 billion in cash from UTC Climate Controls & Security, ultimately owned by United Technologies Corp.
Pulse Electronics CorpYageo Corp740.00Yageo Corp of Taiwan plans to acquire Pulse Electronics Corp, a San Diego-based manufacturer of electronic coils, transformers and other inductors, for $740 milllion from Oaktree Capital Management LP, ultimately owned by Oaktree Capital Group LLC.
Relish Labs LLCKroger Co700.00Kroger Co agreed to acquire Home Chef, a Chicago-based meal kit company, for about $700 milllion. The consideration will consist of $200 milllion in cash and up to $500 milllion in profit-related payments. Originally, in June 2017, Home Chef was rumored to be seeking a buyer for the company.
Pivotal Utility Holdings Inc700 Universe LLC530.00700 Universe LLC a unit of NextEra Energy Inc, definitively agreed to acquire the entire share capital of Pivotal Utility Holdings Inc, a Bedminster-based natural gas distributor, from Southern Co for about $530 milllion. Concurrently, NextEra definitively agreed to acquire the entire share capital of Gulf Power Co, Southern Co-Florida LLC and Southern Co-Oleander LLC.
West Living LLC-Senior Living Properties(9)MBK Real Estate Ltd382.00MBK Real Estate Ltd, a unit of Mitsui & Co Ltd, definitively agreed to acquire 9 senior living properties of West Living LLC, a Carlsbad-based elderly home operator, for $382 million.
WeddingWire IncPermira Advisers LLP350.00UK’s Permira Advisers LLP, a unit of Permira Advisers Holdings Ltd, definitively agreed to acquire an undisclosed majority interest in WeddingWire Inc, a Chevy Chase-based firm that operates online marketplaces for the wedding industry in 14 countries, for $350 milllion via a leveraged buyout transaction.
Southern Co-Florida LLC,Southern Co-Oleander LLC700 Universe LLC195.00700 Universe LLC, a unit of NextEra Energy Inc, definitively agreed to acquire the entire share capital of Southern Co-Florida LLC and Southern Co-Oleander LLC, from Southern Co for about $195 milllion in cash and profit-related payments. Concurrently, NextEra definitively agreed to acquire the entire share capital of Pivotal Utility Holdings Inc and Gulf Power Co.
Sensata Technologies Inc-Valves BusinessPacific Industrial Co Ltd173.00Pacific Industrial Co Ltd of Japan agreed to acquire valves business of Sensata Technologies Inc, an Attleboro-based manufacturer of semiconductors and related devices owned by Sensata Technologies Holding NV, for $173 mil.
Epic AviationBBA Aviation PLC88.10BBA Aviation PLC of the UK plans to acquire Epic Aviation, a New Smyrna Beach-based provider of transportation support services, for $88. 1 mil.
Darling Ingredients Inc-Terra Renewal Services BusinessAmerican Residuals Group LLC80.00American Residuals Group LLC plans to acquire terra renewal services business of Darling Ingredients Inc, an Irving-based meat byproduct processor, for $80 milllion in cash.
South Sound BankTimberland Bank,Hoquiam, Washington36.898Timberland Bancorp Inc’s unit Timberland Bank in Hoquiam, Washington definitively agreed to merge with South Sound Bank, an Olympia-based commercial bank, for $36.898 milllion via a stock swap transaction. The consideration will consist of $6.9 milllion in cash and the issuance of .905 milllion in common shares valued at $29.998 milllion. The shares were valued based on Timberland’s closing stock price of $33.15 on 22 May 2018, the last full trading day prior to the announcement of the transaction.
Hotel Properties(5)R&R Real Estate Investment Trust32.10R&R Real Estate Investment Trust of Canada agreed to acquire 5 hotels for a total of about $32.1 milllion. The consideration will consist of about $0.6 milllion cash plus $11 milllion class B LP units plus the assumption of $20.5 milllion in liabilities.
Pines at Greenbriar,Atlanta,GACrown Bay Group LLC27.70Crown Bay Group LLC acquired Pines at Greenbriar, a 376-unit apartment complex in Atlanta. Concurrently, Crown acquired Mountain Oaks. Both transactions have a combined value of $27.7 million.
Sundale Utilities IncIllinois American Water Co2.00Illinois American Water Co, a unit of American Water Works Co Inc, acquired Sundale Utilities Inc, a Washington-based sewage treatment facility operator, for $2 mil.
Info Sys Management IncSWK Technologies Inc1.70SWK Technologies Inc, a unit of SilverSun Technologies Inc, acquired Info Sys Management Inc, a Portland-based software reseller, for $1.7 milllion. The consideration consisted of $0.3 milllion in cash and $1.4 milllion in convertible notes.
Sageworks IncAccel-KKR LLCAccel-KKR LLC, jointly owned by Kohlberg Kravis Roberts & Co LP and Accel Partners & Co Inc, acquired Sageworks Inc, a Raleigh-based private financial information company, via a leveraged buyout transaction.
Kitsap Reclamation & Materials IncACG MaterialsACG Materials, a unit of HIG Capital LLC, acquired Kitsap Reclamation & Materials Inc, a Bremerton-based crushed and broken stone quarry operator.
Richards Paving IncAdvanced Pavement Group CorpAdvanced Pavement Group Corp acquired Richards Paving Inc, a New Castle-based provider of specialty trade contractor services.
Conduent Inc-Commercial Vehicle Operations BusinessAlinda Capital Partners LLCAlinda Capital Partners LLC agreed to acquire the commercial vehicle operations business of Conduent Inc, a Florham-based provider of data processing and hosting services, via a leveraged buyout transaction.
Invenergy AMPCI Thermal Power Holdings LLCAMP Capital Investors LtdAMP Capital Investors Ltd of Australia, a unit of AMP Asset Management Australia Ltd, acquired a 50% interest in Invenergy AMPCI Thermal Power Holdings LLC, electric power generation facility operator, from Invenergy Clean Power LLC, ultimately owned by Invenergy LLC.
Aspire Health IncAnthem IncAnthem Inc agreed to acquire Aspire Health Inc, a Nashville-based medical firm.
Alerian Capital Management LLCAretex Capital Partners LLCAretex Capital Partners LLC plans to acquire Alerian Capital Management LLC, a Dallas-based investment advisor, via a leveraged buyout transaction.
Spectrum King LEDBanjo & Matilda IncBanjo & Matilda Inc plans to acquire Spectrum King LED, a Canoga Park-based firm that designs and manufactures LED Grow Lights.
Environmental Earthscapes IncBrightView Landscapes LLCBrightView Landscapes LLC acquired Environmental Earthscapes Inc, a Tucson-based provider of hazardous waste treatment and disposal services.
Database International Group IncBuilding Engines IncBuilding Engines Inc acquired Database International Group Inc, a Boston-based software publisher.
Invenergy LLCCaisse De Depot Et Placement Du QuebecCaisse De Depot Et Placement Du Quebec of Canada plans to raise its interest to 52.4% from an undisclosed minority stake by acquiring an undisclosed stake in Invenergy LLC, a Chicago-based electric power distributor.
Nortex Midstream Partners LLCCastleton Commodities International LLCCastleton Commodities International LLC, a unit of DF Energy Acquisition LLC, acquired Nortex Midstream Partners LLC, a Houston-based pipeline transportation services of natural gas, from Alinda Capital Partners LLC.
Chartlytics LLCCentralReach LLCCentralReach LLC acquired Chartlytics LLC, a State College-based software publisher.
21st Century Fox-Entertainment AssetsComcast CorpComcast Corp is rumored to be planning to acquire the entertainment assets of 21st Century Fox, a New York-based provider of subscription programming services.
Mountain Oaks,Stone Mountain,GACrown Bay Group LLCCrown Bay Group LLC acquired Mountain Oaks, a 168-unit apartment complex in Stone Mountain. Concurrently, Crown acquired Pines at Greenbriar. Both transactions have a combined value of $27.7 million.
Kruger Commodities IncDarling Ingredients IncDarling Ingredients Inc acquired Kruger Commodities Inc, an Omaha-based meat byproduct processor.
Iam IncDPW Holdings IncDPW Holdings Inc plans to acquire Iam Inc, a San Diego-based manufacturer of electronic components.
Corrugated Container CorpDS Smith PLCDS Smith PLC of the UK agreed to acquire Corrugated Container Corp, a Roanoke-based manufacturer of fiber boxes.
GameFly IncElectronic Arts IncElectronic Arts Inc acquired GameFly Inc, a Los Angeles-based provider of video tape and disc rental services.
Conservation Solutions IncEvergreene Architectural Arts IncEvergreene Architectural Arts Inc acquired Conservation Solutions Inc, a firm that provides heritage preservation services for properties.
Aker Wade Power Technologies LLCExide TechnologiesExide Technologies acquired Aker Wade Power Technologies LLC, a Charlottesville-based manufacturer of automobile charging systems.
Prologic Technology SystemsFrontline Technologies Group LLCFrontline Technologies Group LLC, a unit of Thoma Bravo LLC, acquired Prologic Technology Systems, a software publisher.
First Security IncGerman American Bancorp Inc,Jasper,IndianaGerman American Bancorp Inc plans to acquire the remaining stake it did not already own in First Security Inc, a Charleston- based provider of security systems services.
Toledo Molding & Die IncGrammer AGGrammer AG of Germany plans to acquire Toledo Molding & Die Inc, a Toledo-based manufacturer of plastics products, from Industrial OpportunityPartners LLC.
NootropicGriffin Atlas LtdGriffin Atlas Ltd acquired Nootropic, a wholesaler of durable goods.
Milani Cosmetics CorpGryphon Investors IncGryphon Investors Inc plans to acquire an undisclosed majority interest in Milani Cosmetics Corp, a Los Angeles-based cosmetics retailer, via a leveraged buyout transaction.
SWNB Bancorp IncHanmi Financial CorpHanmi Financial Corp definitively agreed to acquire SWNB Bancorp Inc, a Houston-based commercial bank, for about $76.7 mil.
BearTooth Advisors LLCHoulihan Lokey IncHoulihan Lokey Inc acquired BearTooth Advisors LLC, a New York City-based investment advisor, from Riverstone Holdings LLC.
Cornerstone Broker Services Agency LLCIntegrity Marketing Group LLCIntegrity Marketing Group LLC, a unit of HGGC LLC, plans to acquire Cornerstone Broker Services Agency LLC, a Cinncinati-based provider of administrative management and general management consulting services.
Action Artwork RentalInvestor GroupAn investor group, comprising Zombie Cat Productions and Second Hand Interesting Things, acquired Action Artwork Rental, an Atlanta-based firm that rents out paintings, sculptures and other works of art to film productions that have been previously cleared for rights.
MDH Services LLCJPH Holdings LLCJPH Holdings LLC acquired MDH Services LLC, a Montgomery-based provider of support services for oil and gas operations.
Marathon Global IncKaneh Bosm Biotechnology IncKaneh Bosm Biotechnology Inc of Canada plans to acquire a 50% stake in Marathon Global Inc, a Rogers-based provider of management consulting services.
Shorewood RV CenterLazydays Holdings IncLazydays Holdings Inc agreed to acquire Shorewood RV Center, an Anoka-based campgrounds operator.
Legacy Fighting AllianceLondon Trust Media HoldingsLondon Trust Media Holdings acquired an undisclosed majority interest in Legacy Fighting Alliance, a Houston-based event promoter.
SIRVA IncMadison Dearborn Partners LLCMadison Dearborn Partners LLC agreed to acquire SIRVA Inc, an Oakbrook Terrace-based provider of packing and crating services, from Aurora Capital Group via a leveraged buyout transaction.
PM Reality Group LPMadison Marquette Realty Services LPMadison Marquette RealtyServices LP plans to acquire the remaining stake it does not already own in PM Reality Group LP, a Houston-based real estate agency.
Medallic Art Co LLCMedalcraft Mint IncMedalcraft Mint Inc acquired Medallic Art Co LLC, manufacturer of pharmaceutical preparation.
Aveus LLCMedecision IncMedecision Inc, a unit of Health Care Service Corp, acquired Aveus LLC, a Bloomington-based provider of management consulting services.
SpeedyGrowMedical Cannabis Network IncMedical Cannabis Network Inc of Canada, a unit of Aminex Chemicals Ltd, acquired SpeedyGrow, a nursery production establishment.
Goldhat Resources IncNew Point Exploration CorpNew Point Exploration Corp of Canada plans to acquire the entire share capital of Goldhat Resources Inc, a chemical and fertilizer mineral mine operator, including the Empire Lithium property in Nevada.
Gem Water UtilityNinestar ConnectNinestar Connect plans to acquire Gem Water Utility, a Cumberland-based water supply system operator, from the State of Rhode Island’s Town of Cumberland Housing Authority.
Harrison Electrical ConstructionOlsson Industrial ElectricOlsson Industrial Electric acquired Harrison Electrical Construction, an industrial building constructor.
Polaris Alpha LLCParsons Infrastructure & Technology Group IncParsons Infrastructure & Technology Group Inc acquired Polaris Alpha LLC, an Aberdeen Proving Ground-based provider of security systems services, from Arlington Capital Partners LP.
GlobalLogic IncPartners Group AGSwitzerland’s Partners Group AG, a unit of Partners Group Holding AG, acquired an undisclosed majority interest in GlobalLogic Inc, a San Jose-based software publisher, via a secondary buyout transaction from ODSA Topco Ltd (ODSA), ultimately owned by Apax Partners LLP. Originally, ODSA acquired GlobalLogic.
Mutual of Omaha Bank-Carson City Branch,NVPlumas Bank,Quincy,CAPlumas Bank, a unit of Plumas Bancorp, agreed to acquire the Carson City branch of Mutual of Omaha Bank, an Omaha-based savings institution.
Pecan Grove Solutions LLCQuality Solutions IncQuality Solutions Inc acquired Pecan Grove Solutions LLC, an Alvin-based provider of repair and maintenance services for commercial and industrial machinery and equipment.
Symphony Commerce IncQuantum Retail Technology IncQuantum Retail Technology Inc acquired Symphony Commerce Inc, a software publisher.
Neese Industries IncRadians IncRadians Inc acquired Neese Industries Inc, a Gonzales-based apparel cutting and sewing contractor.
BRC Group LLCRelevent Sports LLCRelevent Sports LLC, a unit of MDC Partners Inc, acquired BRC Group LLC, a Sausalito-based provider of marketing consulting services.
Corporate Benefit AuditsRisk Strategies Co IncRisk Strategies Co Inc, a unit of Kelso & Co, acquired Corporate Benefit Audits, a North Andover-based accounting firm.
Rogue Creamery IncSavencia Fromage & Dairy International S.A.SSavencia Fromage & Dairy International S.A.S of France acquired Rogue Creamery Inc, a Central Point-based manufacturer of cheese.
Enlighted IncSiemens Building Technologies IncSiemens Building Technologies Inc, a unit of Siemens AG, plans to acquire Enlighted Inc, a Sunnyvale-based provider of specialty trade contractor services.
Landscapers ChoiceSiteOne Landscape Supply IncSiteOne Landscape Supply Inc acquired Landscapers Choice, a Naples-based provider of landscaping services.
Fermatex Vascular Technologies LLCSpectrum Plastics Group IncSpectrum Plastics Group Inc, a unit of AEA Investors LP, acquired Fermatex Vascular Technologies LLC, a Wall-based manufacturer of medical instruments, from Vance Street Capital LLC.
GoGuardian IncSumeru Equity Partners IncSumeru Equity Partners Inc acquired an undisclosed majority interest in GoGuardian Inc, a Los Angeles-based reproducer of software, via a leveraged buyout transaction.
Fjord LLCTegraTegra acquired Fjord LLC, an apparels manufacturer.
Master Robotics LLCTIE IndustrialTIE Industrial plans to acquire Master Robotics LLC, an Almont-based manufacturer of industrial machinery.
Halo Branded Solutions IncTPG Growth FundTPG Growth Fund, a unit of TPG Capital LP, plans to acquire Halo Branded Solutions Inc, a Sterling-based online retailer, from Audax Group LP.
Sparrows Point ShipyardTradepoint Atlantic Industrial PortfolioTradepoint Atlantic Industrial Portfolio acquired Sparrows Point Shipyard in Maryland.
iovation IncTransunion LLCTransunion LLC agreed to acquire iovation Inc, a Portland-based software publisher.
Healthcare Payment Specialists LLCTransunion LLCTransunion LLC agreed to acquire Healthcare Payment Specialists LLC, a Fort Worth-based software publisher. Concurrently, Transunion agreed to acquire iovation Inc.
Contract Guardian IncUCG TechnologiesUCG Technologies acquired Contract Guardian Inc, an Independence-based firm that provides automated contract management software.
SpaceoutVR IncValueSetters IncValueSetters Inc acquired SpaceoutVR Inc, a Troy-based mobile software publisher.
RedBrick Health CorpVirgin Pulse IncVirgin Pulse Inc plans to merge with RedBrick Health Corp, a Minneapolis-based insurance fund.
Superior Industrial MaintenanceWarren Equity Partners LLCWarren Equity Partners LLC acquired Superior Industrial Maintenance, a commercial building constructor.
Alpine Waste & Recycling IncWaste Industries USA IncWaste Industries USA Inc, jointly owned by HPS Investment Partners LLC and Equity Group Investments LLC, merged with Alpine Waste & Recycling Inc, a Denver-based provider of waste collection and recycling services.
US M&A Deals Announced May 18 to 24, 2018
Source: Thomson Reuters