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US M&A Deals Announced November 15 to 21, 2019
Target Acquirer Value ($millions) Synopsis
Promedior Inc Roche Holdings AG 1,390.0 Roche 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 LLC ACProducts Inc 1,000.0 ACProducts 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 Inc Thoma Bravo LLC Thoma 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 LLC Noble Midstream Partners LP 1,527.2 Noble 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 Constr W Shore Home Inc West Shore Home Inc acquired Fairbanks Construction, an Ocala-based residential remodeler.
Focus Pointe Global Schlesinger Grp Schlesinger 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 Quality Sonoco Products Co 187.0 Sonoco 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 Corp United Bankshares Inc,WV 1,029.2 United 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 Inc Vista Equity Partners LLC Vista 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 business Peter Adderton Peter 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 Inc Abpro Bio Co Ltd 16.0 Abpro 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 LLC Coty Inc 600.0 Coty 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,NY Mill Creek Residential Trust Mill 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 Loop Investor Group An 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 LLC Converge Technology Solutions Converge Technology Solutions Corp of Canada acquired VSS LLC, a Melville-based provider of computer related services.
Niemeyer Bros Plumbing Inc Pueblo Mechanical & Controls Pueblo 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-business The Rohatyn Grp Mgmt LP The 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 LLC Homeserve PLC 140.0 Homeserve 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 Inc Employee Stock Ownership Plan 10.0 Muir 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 LLC Investor Group An 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 Co Employee Stock Ownership Plan 20.0 Milton Truss Co ESOP planned to acquire Milton Truss Co, a Milton-based manufacturer of trusses, for a total $20 mil.
Plantgistix Hldg Llc A&R Logistics Inc A&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.
SocialRank Trufan Inc Trufan Inc acquired SocialRank, a New York City-based developer of software.
London Tr Media Inc Kape Technologies PLC 127.6 Kape 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 Inc Advent International Corp Advent International Corp agreed to acquire Olaplex Inc, a Santa Barbara-based beauty salon operator, in a leveraged buyout transaction.
AP WIP Investments Holdings LP Landscape Acq Hldg Ltd 860.0 Landscape 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 Wealth Creative Planning Inc Creative Planning Inc acquired Optifour Integrated Wealth Management, a McLean-based investment advisor.
Tomah Bancshares Inc Bank First Corp 38.2 Bank 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 Corp PayPal Holdings Inc 4,000.0 PayPal Holdings Inc agreed to acquire Honey Science Corp, a Los Angeles-based software publisher, for an estimated $4 bil.
Fruitsmart Inc Universal Corp Universal Corp definitively agreed to acquire Fruitsmart Inc, a Prosser-based grocery products merchant wholesaler.
Hologic Inc-Cynosure Business Clayton Dubilier & Rice LLC 205.0 Clayton 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 Asts William Hill US William Hill US, a unit of William Hill PLC, planned to acquire sportsbook assets of CG Technology, a Las Vegas-based software publisher.
UnderPar Golf LLC EMERGE Commerce Inc 12.0 EMERGE 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 Inc Petrofac Ltd 22.0 Petrofac 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 Corp Charles Schwab Corp Charles 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.