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US M&A Deals Announced June 26 to July 02, 2020
Target Acquirer Value ($millions) Synopsis
GCI Liberty Inc Liberty Broadband Corp 7,667.7 Liberty Broadband Corp (Liberty) planned to merge with GCI Liberty Inc (GCI), an Anchorage-based provides telecommunication services, in a stock swap transaction valued at $7.668 billion. Liberty offered 0.58 common C shares per GCI common A share, and 0.58 Liberty common B shares per GCI common B share. Based on Liberty's closing stock price of $124.98 for Liberty common C share and $124 for Liberty common B shares, on 29 June 2020, the last full trading day prior to the announcement, each GCI common A share was valued at $72.488 and each GCI common C share was valued at $71.92, respectively.
BP PLC-Petrochemicals Business INEOS Styrolution Group GmbH 5,000.0 INEOS Styrolution Group GmbH of Germany, a unit of INEOS Group AG, agreed to acquire petrochemicals business of BP PLC, a London-based oil and gas company, for an estimated $5 bil.
Corelogic Inc Investor Group 4,408.8 An investor group, comprised of Cannae Holdings Inc and Senator Investment Group LP planned to acquire the remaining 67.5 million common shares or 85% interest in Corelogic Inc, an Irvine-based internet service provider, for $65 in cash per share, or a total value of $4.409 bill, via an unsolicited offer.
Personal Capital Corp Empower Retirement LLC 1,000.0 Empower Retirement LLC, a unit of Great-West Lifeco Inc, definitively agreed to acquire Personal Capital Corp, a Redwood City-based investment advisor, for $1 billion. The consideration was to consist of $825 million , and up to $175 million in profit- related payments.
Curiouser Products Inc Lululemon Athletica Inc 500.0 Lululemon Athletica Inc of Canada planned to acquire Curiouser Products Inc, a New York-based software publisher, for $500 million .
Golden Nugget Online Gaming Landcadia Holdings II Inc 494.0 Landcadia Holdings II Inc (Landcadia) agreed to acquire the entire share capital of Golden Nugget Online Gaming Inc (GNOG), provider of online gambling services, for a total $494 million . The consideration was to consist of $30 million in cash and $314 million Landcadia common stock plus the assumption of $150 million in liabilities.
Shift Technologies Inc Insurance Acquisition Corp 386.0 Insurance Acquisition Corp (IAC) definitively agreed to acquire the entire share capital of Shift Technologies Inc (STI), a San Francisco-based internet service provider, for $386 million . The consideration was to consist of $380 million plus $6 million common shares. Upon completion, IAC intends to change its name to STI and to change its ticker symbol. Originally, IAC was rumored to be planning to acquire the entire share capital of STI.
FPH-Building(2) PRP LLC 355.0 PRP LLC agreed to acquire 2 undislcosed building of Five Point Holdings LLC, an Aliso Viejo-based lessor of real estate property, for a total $355 million .
Borden Dairy Co Capitol Peak Partners LLC 340.0 Capitol Peak Partners LLC acquired an undisclosed majority interest in the bankrupt Borden Dairy Co, a Dallas-based manufacturer of fluid million k, for $340 million , in a leveraged buyout transaction. KKR & CO Inc acquired an undisclosed minority stake. Originally, in January 2020, Borden Dairy Co announced that it was seeking a buyer for the company.
Distribution Center,Chicago KKR Real Estate Partners 260.0 KKR Real Estate Partners Americas LP (KKR RE), a unit of KKR & Co LP, acquired an Undisclosed Distribution Center, a Chicago-based provider of warehousing and storage services. Concurrently, KKR RE acquired an Undisclosed Distribution Center located in Charlotte, North Carolina. The two transactions had a combined value of $260 million .
Bryn Mawr Bank-PPP Loans Loan Source Inc 21.0 Loan Source Inc acquired paycheck protection program loans of Bryn Mawr Bank Corp, a Bryn Mawr-based bank holding company, for a total $21 million .
Greenfield Partners-Bldg(7) Golden Gate Capital Inc 14.9 Golden Gate Capital Inc acquired 7 office building portfolio of Greenfield Partners LLC, a Westport-based lessor of real estate property, for a total $14. 85 million , in a leveraged buyout transaction.
MCT Transportation LLC TFI International Inc 12.4 TFI International Inc of Canada acquired the bankrupt MCT Transportation LLC (MCT Transportation), a Sioux Falls-based provider of specialized freight trucking services, from Comcar Industries Inc (Comcar), for a total $12.4 million . Originally, in May 2020, Comcar announced that it was seeking a buyer for MCT Transportation. White Willow Holdings LLC was named a potential bidder.
Adding Space Self-Chelsea Metro Mini Storage 11.8 Metro Mini Storage acquired Chelsea Facility of Adding Space Self Storage, a Chelsea-based lessor of miniwarehouses and self- storage units, for a total $11.75 million .
Scanadu Inc Ownhealth Ltd 9.0 Ownhealth Ltd of Israel acquired Scanadu Inc, a Sunnyvale-based medical equipment and supplies merchant wholesaler, for a total $9 million .
RareGen LLC Liquidia Technologies Inc 6.2 Liquidia Technologies Inc (Liquidia) planned to acquire RareGen LLC, a Durham-based portfolio manager, from Pbm Capital Group LLC, for a total $6.167 million in Liquidia's common shares. Upon Completion, Liquidia and RareGen will from a new holding company, to be named Liquidia Corp, which will trade on the Nasdaq Capital Market under the ticker symbol LQDA.
Omni Senior Living LLC Vesta Corp 5.7 Vesta Corp acquired Omni Senior Living LLC, a Solon-based lessor of residential buildings and dwellings, for a total $5.7 million .
Global Technical Services Inc Investor Group 4.0 An investor group, comprised of Global Technical Services Inc's management, acquired Global Technical Services Inc, a Fort Worth-based provider of employee leasing services, from Rekor Systems Inc, for a total $4 million in cash and secured notes.
Advance Watch Co Ltd Geneva Watch Group LLC 0.5 Geneva Watch Group LLC, a unit of ILG of Switzerland Ltd, acquired Advance Watch Co Ltd, a New York-based manufacturer of clockwork and parts, from Sunshine Time Inc, owned by Time Watch Investments Ltd, for a total $0.499 million in cash.
Amplify Clinical Accel Clinical Svcs Accel Clinical Services acquired Amplify Clinical, a Winter Park-based provider of research and development services.
AAR Manufa-Aerospace Composite AE OpCo III LLC AE OpCo III LLC, a unit of Architect Equity LLC, definitively agreed to acquire aerospace composite manufacturing business of AAR Manufacturing Inc, manufacturer of aircrafts, ultimately owned by AAR Corp. Terms were not disclosed.
Zoox Inc Amazon.com Inc Amazon.com Inc (Amazon) agreed to acquire Zoox Inc (Zoox), a Foster City-based provider of research and development services. Originally, in May 2020, Amazon was rumored to be planning to acquire Zoox. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $1 bil.
Brightsphere Invest Grp Inc Assicurazioni Generali SpA Assicurazioni Generali SpA of Italy was rumored to be planning to acquire the remaining stake, which it did not already own, in Brightsphere Investment Group Inc, a Boston-based investment advisor.
WTPhelan & Co Ins Agcy Inc AssuredPartners Inc AssuredPartners Inc, a unit of Apax Partners LP, acquired WTPhelan & Co Insurance Agency Inc, a Cambridge-based insurance agency.
CodeMaster Inspection-Assets Barry Isett & Assoc Barry Isett & Associates acquired assets of CodeMaster Inspection Services, an Allentown-based provider of building inspection services.
American Midstream-NGT Assets Black Bear Transmission LLC Black Bear Transmission LLC, a unit of Basalt Capital LLC, definitively agreed to acquire natural gas transmission assets of American Midstream Partners LP, a Houston-based provider of pipeline transportation services of natural gas, owned by Arclight Energy Partners Fund V LP. The terms of the transaction were not disclosed.
Greater Cincinnati-PACE Bricker & Eckler LLP Bricker & Eckler LLP acquired pace financing of Greater Cincinnati Energy Alliance Inc, a Cincinnati-based hydroelectric power generation facility operator. The terms of the deal were not disclosed.
Flatiron School LLC Carrick Capital Management Co Carrick Capital Management Co LLC planned to acquire Flatiron School LLC, a New York City-based provider of computer training services, from WeWork Cos Inc, owned by We Co MC LLC, in a leveraged buyout transaction.
Miller Media Inc CloudAccess.net LLC CloudAccess.net LLC, a unit of Cloud Equity Group LLC, acquired million ler Media Inc, a Bloomfield Hills-based provider of computer systems design services.
Mirador Global LP Coeus Consulting Group LLC Coeus Consulting Group LLC merged with Mirador Global LP, a Kennett Square-based provider of management consulting services.
Richmond Refrigeration Svc CoolSys Inc CoolSys Inc, a unit of Ares Management LP, acquired Richmond Refrigeration Service Inc, an Ashland-based plumbing, heating and air- conditioning contractor.
Phytogen Seed Co Llc Corteva Inc Corteva Inc acquired the remaining 46.5% stake, which it did not already own, in Phytogen Seed Co LLC, an Indianapolis-based cotton farming establishment, from its joint venture partner JG Boswell Co.
Starfire Invest Advisers Inc Creative Planning Inc Creative Planning Inc acquired Starfire Investment Advisers Inc, a Southfield-based investment advisor.
Chesapeake Energy Corp Creditors the bankrupt Chesapeake Energy Corp(Chesapeake), an Oklahoma City-based producer of crude petroleum and natural gas, planned a debt restructuring transaction with Creditors (CRs). CRs were to receive common shares and warrants in exchange for outstanding debt . Upon completion, CRs were to hold an undisclosed majority interest in the restructured Chesapeake. The book value of the existing debt that will be exchanged under the terms of the offer is $9.169 bil.
Rilo Elec & Commun Constr LLC Crestone Svcs Grp Llc Crestone Services Group LLC acquired Rilo Electric & Communications Construction LLC, a Longmont-based wireless telecommunications carrier.
Harvest Petro Inc-Lost Hills Cycle Energy Industries Inc Cycle Energy Industries Inc of Canada agreed to acquire a 60% interest in Lost Hills Oil Field, a Bakersfield-based producer of crude petroleum and natural gas, from Harvest Petroleum Inc.
KBS Real Estate-Bldg(2) Exan Capital LLC Exan Capital LLC acquired 2 buildings of KBS Real Estate Investment Trust II Inc, a Newport Beach-based lessor of real estate property.
Shirley H Gould House,FL Fairstead Partners Fairstead Partners acquired Shirley H Gould House, a Boca Raton-based elderly home operator.
Babelfish Analytics Global Trading Analytics LLC Global Trading Analytics LLC planned to merge with Babelfish Analytics, a Rutherford-based provider of financial investment services.
Velodyne LiDAR Inc Graf Industrial Corp Graf Industrial Corp, a unit of Graf Acquisition LLC, was rumored to be planning to acquire the entire share capital of Velodyne LiDAR Inc, a San Jose-based manufacturer of semiconductors and related device.
SP Richards-SSE Business HIG Capital LLC HIG Capital LLC, a unit of HIG Capital Partners LP, acquired the Supply Source Enterprises business of SP Richards Co Inc (SPR), a Smyrna-based stationary and office supplies merchant wholesaler, ultimately owned by Genuine Parts Co, in a leveraged buyout transaction. Concurrently, an Investor Group acquired the Core US Operations of SPR.
Supply Source Enterprises Inc HIG Capital LLC HIG Capital LLC, a unit of HIG Capital Partners LP, acquired Supply Source Enterprises Inc, medical equipment and supplies merchant wholesaler, from Genuine Parts Co.
Mountain High Recreation Inc Hightimes Hldg Corp Hightimes Holding Corp planned to acquire Mountain High Recreation Inc, online retailer, from Driven Deliveries Inc.
dashCMA Inside Real Estate LLC Inside Real Estate LLC, a unit of Lovell Minnick Partners LLC, acquired dashCMA, a Los Angeles-based software publisher.
Natl Agents Alliance Integrity Marketing Group LLC Integrity Marketing Group LLC, a unit of HGGC LLC, acquired National Agents Alliance, a Burlington-based insurance agency. Financial terms of the transaction were not disclosed.
Chauncey Hill Mallw Lafayette Investor Group An investor group, comprised of T2 Capital Management LLC and Muinzer Management acquired a 50% interest in Chauncey Hill Mall, a West Lafayette-based merchandise store operator.
Amer Intl Grp Inc-Personal Investor Group An investor group, comprised of Safeco Insurance, a unit of Liberty Mutual Holding Co Inc and Heritage Insurance Holdings Inc agreed to acquire personal insurance business of American International Group Inc, a New York-based direct insurance carrier.
Cahaba Media Grp Investor Group An investor group, comprised of Matthew Conroy and Matt Lyons acquired an undisclosed majority interest in Cahaba Media Group, a Birmingham-based book publisher.
SP Richards Co Inc-Core US Ops Investor Group An investor group acquired the Core US Operations of SP Richards Co Inc (SPR), a Smyrna-based stationary and office supplies merchant wholesaler, ultimately owned by Genuine Parts Co. Concurrently, HIG Capital acquired the Supply Source Enterprises Business of SPR.
Distribution Center,Charlotte KKR Real Estate Partners KKR Real Estate Partners Americas LP (KKR RE), a unit of KKR & Co LP, acquired Undisclosed Distribution Center, a Charlotte-based provider of warehousing and storage services. Concurrently, KKR RE acquired an Undisclosed Distribution Center located in Chicago, Illinois. The two transactions had a combined value of $260 million .
Ground Penetrating Radar Sys Kohlberg & Co LLC Kohlberg & Co LLC acquired an undisclosed majority interest in Ground Penetrating Radar Systems LLC, a Toledo-based provider of support services, from CIVC Partners LP, ultimately owned by Bank of America Corp, in a leveraged buyout transaction. Terms of the deal were not disclosed.
Total Value RV Lazydays Holdings Inc Lazydays Holdings Inc signed a letter of intent {LoI} to acquire Total Value RV, an Elkhart-based recreational vehicle dealer.
Transom Capital Group-Property MAG Capital Partners LLC MAG Capital Partners LLC, a unit of Mitchell Asset Group Inc, acquired industrial property of Transom Capital Group LLC, an El Segundo-based financial sponsor.
Argosy Wealth Mgmt Inc Mercer Global Advisors Inc Mercer Global Advisors Inc, a unit of Mercer Advisors Inc, acquired Argosy Wealth Management Inc, a Los Angeles-based investment advisor.
ClearRock Capital Mercer Global Advisors Inc Mercer Global Advisors Inc, a unit of Mercer Advisors Inc, acquired ClearRock Capital, a Ketchum-based investment advisor.
Sparton Corp-Mnfg & Design One Equity Partners LLC One Equity Partners LLC, a unit of OEP Parent LLC, definitively agreed to acquire manufacturing & design services of Sparton Corp, a Schaumburg-based manufacturer of bare printed circuit boards, ultimately owned by Cerberus Capital Management LP, in a leveraged buyout transaction.
Integris Software Inc OneTrust LLC OneTrust LLC acquired Integris Software Inc, a Seattle-based software publisher.
Orbis Intelligent Sys Inc Orbis Intelligent Sys Inc SPV Orbis Intelligent Systems Inc SPV of the UK, a special purpose acquisition vehicle formed by Cadence Equity Partners and Unigestion SA acquired Orbis Intelligent Systems Inc, a San Diego-based software publisher, from Aquam Corp, in a leveraged buyout transaction.
Brinker Capital Inc Orion Advisor Solutions LLC Orion Advisor Solutions LLC, a unit of TA Associates Management LP, planned to acquire the entire share capital of Brinker Capital Inc, a Berwyn-based investment advisor, from eMoney Advisor LLC, ultimately owned by FMR LLC. The terms of the deal were not disclosed.
Mesaba Bancshares Inc Park Financial Group Inc Park Financial Group Inc definitively agreed to acquire the entire share capital of Mesaba Bancshares Inc, a Grand Rapids-based bank holding company.
L&R Distributors Inc Platinum Equity LLC Platinum Equity LLC acquired L&R Distributors Inc, a Brooklyn-based merchandise store operator, in a leveraged buyout transaction.
Elecal Maintenance & Testing Potomac Testing Inc Potomac Testing Inc acquired Electrical Maintenance & Testing Inc, a Carmel-based provider of engineering services.
APS Corp-Staffing Division Qualivis LLC Qualivis LLC, a unit of Aya Healthcare Inc, acquired staffing division of Associated Purchasing Services Corp, an Overland Park-based provider of business support services, jointly owned by Missouri Hospital Association and Kansas Hospital Association.
Engineered Molding Technology Repligen Corp Repligen Corp planned to acquire Engineered Molding Technology LLC, a Clifton Park-based manufacturer of rubber products. Terms were not disclosed.
Wealth Management Advisors LLC RubinBrown LLP RubinBrown LLP acquired Wealth Management Advisors LLC, a Tewksbury-based provides investment advisory services.
Quark Sec Inc Sealing Tech Inc Sealing Technologies Inc acquired Quark Security Inc, a Columbia-based provider of information technology services.
PL Gaming Texas LLC Simplicity Esports & Gaming Co Simplicity Esports & Gaming Co acquired PL Gaming Texas LLC, amusement arcade operator.
Honeymoon Paper Prod Inc Southern Champion Tray LP Southern Champion Tray LP acquired Honeymoon Paper Products Inc, a Fairfield-based manufacturer of packaging solutions for the food industry.
Capitol Of Texas Bancshares Sw Bancshares Incsan Southwest Bancshares Inc, San Antonio,Texas (Southwest) definitively agreed to merge with Capitol Of Texas Bancshares Inc (Capitol), a Dallas-based commercial bank. Concurrently, Southwest definitively agreed to merge with Texas Hill Country Bancshares Inc, in a three way merger.
Texas Hill Country Bancshares Sw Bancshares Incsan Southwest Bancshares Inc, San Antonio,Texas (Southwest) definitively agreed to merge with Texas Hill Country Bancshares Inc (Texas), a Bandera-based commercial bank. Concurrently, Southwest definitively agreed to merge with Capitol of Texas Bancshares Inc, in a three way merger.
B&L Sheet Metal & Roofing Inc Tecta America Corp Tecta America Corp, a unit of Altas Partners LP, acquired B&L Sheet Metal & Roofing Inc, a Bloomington-based manufacturer of sheet metal works.
Blizzard Internet Mktg-Booking Ten Twenty Four Inc Ten Twenty Four Inc acquired booking engine of Blizzard Internet Marketing Inc, a Glenwood Springs-based provider of marketing consulting services, ultimately owned by RedAwning. com Inc.
Unison Software Inc The Carlyle Group Inc The Carlyle Group Inc acquired Unison Software Inc, a Dulles-based software publisher, from ABRY Partners LLC, in a leveraged buyout transaction.
Plan Administrators Inc The Newport Group Inc The Newport Group Inc, a unit of Kelso & Co LP, planned to acquire the entire share capital of Plan Administrators Inc, investment advisor. Terms of the transaction were not disclosed.
NBCUniversal Media-Bluprint TN Mktg TN Marketing acquired bluprint assets of NBCUniversal Media LLC, a New York-based owner and operator of television broadcasting, ultimately owned by Comcast Corp.
Postmates Inc Uber Technologies Inc Uber Technologies Inc was rumored to be planning to acquire the entire share capital of Postmates Inc, a San Francisco-based software publisher. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $2.6 bil.
R Sqd Ventures Llc UNA Health Inc UNA Health Inc acquired the entire share capital of R Squared Ventures LLC, a Miami-based software publisher.
KIK-Personal Care Business Vee Pak Inc Vee Pak Inc, a unit of Wind Point Partners LLC, definitively agreed to acquire the personal care business of KIK Custom Products Inc, a Concord-based manufacturer of detergents, ultimately owned by Centerbridge Partners LP.
Level 5 Lab Vertex Software Corp Vertex Software Corp acquired Level 5 Lab, develops software.
Constellation US-Grape Busines Vie Del Co Vie Del Co definitively agreed to acquire the grape concentrate & high color concentrate business of Constellation Wines US, a Fairport-based winery, ultimately owned by Constellation Brands Inc. Terms were not disclosed.
Datrium Inc VMware Inc VMware Inc, a unit of EMC Corp, definitively agreed to acquire Datrium Inc, a Sunnyvale-based manufacturer of computer storage devices.
Acme World Sports LLC Wasserman Media Group LLC Wasserman Media Group LLC (Wasserman) acquired Acme World Sports LLC, a Chicago-based sports club. Concurrently, Wasserman acquired Acme World Sports Schweiz GmbH.
Perry & Co PC Wessel & Co Wessel & Co planned to merge with Perry & Co PC, a Cranberry Township-based certified public accountant's office.