US M&A Deals Announced November 15 to 21, 2019
TargetAcquirerValue ($millions)Synopsis
Promedior IncRoche Holdings AG1,390.0Roche Holdings AG of Switzerland definitively agreed to merge with Promedior Inc, a Lexington-based biotechnology company, for an estimated $1.39 billion. The consideration was to consist of an estimated $390 million. in cash and up to $1 billion in profit-related payments.
Masco Cabinetry LLCACProducts Inc1,000.0ACProducts Inc, a unit of American Industrial Partners LP (AIP), definitively agreed to acquire Masco Cabinetry LLC, an Ann Arbor-based manufacturer of cabinetry products, from Masco Corp, for a total $1 billion. The consideration was to consist of $850 million. in cash and $150 million. in AIP’s preferred stock. Originally, in March 2019, announced that it was seeking a buyer for its Cabinetry & Window Businesses. Bain Capital LP, American Industrial Partners LP, Clearlake Capital Group LP, and WW Grainger Inc were announced as potential rumored bidders.
LogMeIn IncThoma Bravo LLCThoma Bravo LLC was rumored to be planning to acquire the entire share capital of LogMeIn Inc, a Boston-based software publisher, in a leveraged buyout transaction.
Noble Midstream GP LLCNoble Midstream Partners LP1,527.2Noble Midstream Partners LP (Noble Midstream Partners) definitively agreed to acquire the entire share capital of Noble Midstream GP LLC, owner and operator of domestic midstream infrastructure assets, from Noble Energy Inc, in a stock swap reverse takeover transaction. Concurrently, Noble Midstream Partners acquired the remaining 60% interest, which it did not already own, in Blanco River DevCo LP, the remaining 75% interest, which it did not already own, in Green River DevCo LP and San Juan River DevCo LP and the entire share capital of NBL Midstream Holdings LLC. The five transactions were to have a combined value of $1.527 billion. The consideration was to consist of $670 million. in cash and $38.455 million. common units valued at $857.162 million. The units were valued based on Noble Midstream Partners LP’s closing stock price of $22. 29 on 14 November 2019, the last full trading day prior to the announcement. Originally, in April 2019, Noble Energy Inc was rumored to be seeking a buyer for its Noble Midstream Partners LP unit.
Fairbks ConstrW Shore Home IncWest Shore Home Inc acquired Fairbanks Construction, an Ocala-based residential remodeler.
Focus Pointe GlobalSchlesinger GrpSchlesinger Group, a unit of Gauge Capital LLC, acquired Focus Pointe Global, a Philadelphia-based provider of data processing and hosting services, in a leveraged buyout transaction.
Thermoform Engineered QualitySonoco Products Co187.0Sonoco Products Co definitively agreed to acquire Thermoform Engineered Quality LLC, a Huntley-based manufacturer of polystyrene foam products, from ESCO Technologies Inc, for a total $187 mil.
Carolina Financial CorpUnited Bankshares Inc,WV1,029.2United Bankshares Inc, Charleston,West Virginia (UBSI) definitively agreed to merge with Carolina Financial Corp (CFC), a Charleston-based bank holding company, in a stock swap transaction valued at $1.029 billion. UBSI offered 1.13 common shares per CFC share. Based on UBSI’s closing stock price of $39.51 on 16 November 2019, the last full trading day prior to the announcement, each CFC share was valued at $44.646.
Sonatype IncVista Equity Partners LLCVista Equity Partners LLC definitively agreed to acquire an undisclosed majority interest in Sonatype Inc, a Fulton-based software publisher, in a leveraged buyout transaction.
Sprint Corp-Prepaid businessPeter AddertonPeter Adderton was rumored to be planning to acquire prepaid business of Sprint Corp, an Overland Park-based wireless telecommunications carrier, ultimately owned by Softbank Group Corp. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $2 bil.
Abpro Bio International IncAbpro Bio Co Ltd16.0Abpro Bio Co Ltd of South Korea acquired the remaining 12.57% stake, which it did not already own, in Abpro Bio International Inc, a Dover-based manufacturer of pharmaceutical preparation, for a total $16.048 mil.
King Kylie LLCCoty Inc600.0Coty Inc, a unit of JAB Cosmetics BV, definitively agreed to acquire a 51% interest in King Kylie LLC, an Oxnard-based manufacturer of cosmetic products, for an estimated $600 million. in cash.
Peaks of Nanuet,Nanuet,NYMill Creek Residential TrustMill Creek Residential Trust LLC, a unit of the US state-owned Arizona State Retirement System, acquired Peaks of Nanuet, a Nanuet-based 504-unit apartment community, from Azure Partners LLC and Harbor Group International LLC.
Everly on the LoopInvestor GroupAn investor group, comprised of AGC Equity Partners Ltd and GMH Capital Partners Inc acquired Everly on the Loop, a St. Louis-based lessor of residential buildings and dwellings.
VSS LLCConverge Technology SolutionsConverge Technology Solutions Corp of Canada acquired VSS LLC, a Melville-based provider of computer related services.
Niemeyer Bros Plumbing IncPueblo Mechanical & ControlsPueblo Mechanical & Controls Inc, a unit of Huron Capital Partners LLC, acquired Niemeyer Brothers Plumbing Inc, a Phoenix-based plumbing, heating and air- conditioning contractor. Terms were not disclosed.
Emerging Markets Altr-businessThe Rohatyn Grp Mgmt LPThe Rohatyn Group Management LP acquired multi manager business of Emerging Markets Alternatives LLC, a New York-based investment advisor, owned by Lazard Freres & Co LLC, in a leveraged buyout transaction.
eLocal USA LLCHomeserve PLC140.0Homeserve PLC of the UK agreed to acquire a 79% interest in eLocal USA LLC, a Dresher-based advertising agency, for a total $140 mil.
Muir Omni Graphics IncEmployee Stock Ownership Plan10.0Muir Omni Graphics Inc ESOP planned to acquire a 70% interest in Muir Omni Graphics Inc, a Peoria-based provider of commercial lithographic printing services, for a total $10 mil.
Calero Software LLCInvestor GroupAn investor group, comprised of Market Data Services Ltd{MDSL}, Oak Hill Capital Partners LP and Riverside Partners LLC planned to acquire an undisclosed majority interest in Calero Software LLC, a Rochester-based software publisher, from Riverside Partners LLC.
Milton Truss CoEmployee Stock Ownership Plan20.0Milton Truss Co ESOP planned to acquire Milton Truss Co, a Milton-based manufacturer of trusses, for a total $20 mil.
Plantgistix Hldg LlcA&R Logistics IncA&R Logistics Inc, a unit of Wind Point Partners LLC, acquired Plantgistix Holdings LLC, a Houston-based provider of freight transportation arrangement services. Terms were not disclosed.
SocialRankTrufan IncTrufan Inc acquired SocialRank, a New York City-based developer of software.
London Tr Media IncKape Technologies PLC127.6Kape Technologies PLC of the UK agreed to acquire London Trust Media Inc, a Greenwood Village-based software publisher, for an estimated $127.586 million. The consideration was to consist of an estimated $52.9 million. in cash, $42.586 million. in newly issued ordinary shares and the assumption of $32.1 million. in liabilities.
Olaplex IncAdvent International CorpAdvent International Corp agreed to acquire Olaplex Inc, a Santa Barbara-based beauty salon operator, in a leveraged buyout transaction.
AP WIP Investments Holdings LPLandscape Acq Hldg Ltd860.0Landscape Acquisition Holdings Ltd of the UK definitively agreed to acquire the entire share capital of AP WIP Investments Holdings LP, a San Diego-based lessor of real estate property, for an estimated $860 million. in cash, ordinary shares and assumption of liabilities.
Optifour Integrated WealthCreative Planning IncCreative Planning Inc acquired Optifour Integrated Wealth Management, a McLean-based investment advisor.
Tomah Bancshares IncBank First Corp38.2Bank First Corp (BFC) definitively agreed to merge with Tomah Bancshares Inc, a Tomah-based commercial bank, in exchange for 0.56 million. BFC common shares valued at $38.225 million. The shares were valued based on BFC’s closing stock price of $68.74 on 19 November 2019, the last full trading day prior to the announcement.
Honey Science CorpPayPal Holdings Inc4,000.0PayPal Holdings Inc agreed to acquire Honey Science Corp, a Los Angeles-based software publisher, for an estimated $4 bil.
Fruitsmart IncUniversal CorpUniversal Corp definitively agreed to acquire Fruitsmart Inc, a Prosser-based grocery products merchant wholesaler.
Hologic Inc-Cynosure BusinessClayton Dubilier & Rice LLC205.0Clayton Dubilier & Rice LLC, a unit of Clayton Dubilier & Rice Holdings LP, definitively agreed to acquire cynosure medical aesthetics business of Hologic Inc, a Marlborough-based manufacturer of navigational, measuring, electromedical and control Instruments, for a total $205 million. in cash, in a leveraged buyout transaction.
Cg Tech-Sportsbook AstsWilliam Hill USWilliam Hill US, a unit of William Hill PLC, planned to acquire sportsbook assets of CG Technology, a Las Vegas-based software publisher.
UnderPar Golf LLCEMERGE Commerce Inc12.0EMERGE Commerce Inc of Canada acquired UnderPar Golf LLC, a San Diego-based provider of marketing consulting services, for a total $12 mil.
W&W Energy Services IncPetrofac Ltd22.0Petrofac Ltd of Jersey agreed to acquire W&W Energy Services Inc, an Odessa-based producer of crude petroleum and natural gas. The consideration was to consist of $22 million. in cash and an undisclosed amount in profit- related payments.
TD Ameritrade Holding CorpCharles Schwab CorpCharles Schwab Corp was rumored to be planning to acquire the entire share capital of TD Ameritrade Holding Corp, an Omaha-based provider of securities brokerage services and related technology-based financial services. The terms of the transaction were not disclosed, but according to sources close to the transaction, the reported value of the deal was estimated at $26 bil.