Weekly wrap: Analog, Churchill, HP

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US M&A Deals Announced July 10 to 16, 2020
TargetAcquirerValue ($millions)Synopsis
Climatech Mechanical Svcs IncAlliance Air Solutions IncAlliance Air Solutions Inc acquired Climatech Mechanical Services Inc, a Wallingford-based plumbing, heating and air-conditioning contractor.
Global Measurement Tech IncEntegris Inc36.0Entegris Inc (Entegris) acquired Global Measurement Technologies Inc, a Chandler-based manufacturer of measuring, displaying and controlling variables instruments and related products, for an estimated USD 36 mil in cash. Concurrently, Entegris acquired Clean Room Plastics Inc.
Clean Room Plastics IncEntegris IncEntegris Inc (Entegris) acquired Clean Room Plastics Inc, a Chandler-based manufacturer of plastics products. Concurrently, Entegris acquired Global Measurement Technologies Inc.
Note-e-fied IncAxxess Technology SolutionsAxxess Technology Solutions Inc acquired Note-e- fied Inc, a West Covina-based software publisher. Terms of the deal were not disclosed.
Business AdvantEdge IncAdvancea LLCAdvancea LLC acquired Business AdvantEdge Inc, an Osceola-based provider of professional services. Terms of the transaction were not disclosed.
Bowes Real Estate Real LivingGibson Sothebys InternationalGibson Sothebys InternationalRealty Inc acquired Bowes Real Estate Real Living, an Arlington-based provider of land subdivision services.
Educ Bdcstg Foundation IncGreater New Orleans Educ TvGreater New Orleans Educational Television Foundation was rumored to be planning to merge with Educational Broadcasting Foundation Inc, a New Orleans-based television broadcaster.
237@FirstCBRE Global Investors LLCCBRE Global Investors LLC, a unit of CBRE Group Inc, acquired 237@First, a San Jose-based owner and operator of office buildings.
Mason & Mason Ins Agcy IncArmfield, Harrison & ThomasArmfield, Harrison & Thomas Inc acquired Mason & Mason Insurance Agency Inc, a Whitman-based insurance agency.
Arctic Engineering Co IncReedy Industries IncReedy Industries Inc, a unit of Audax Group LP, acquired Arctic Engineering Co Inc, a Merrillville-based plumbing, heating and air- conditioning contractor.
WorldAware IncGarda World Security CorpGarda World Security Corp of Canada, a unit of Rhone Capital LLC, acquired WorldAware Inc, an Annapolis-based software publisher.
GHS Interactive Security LLCArena Investors LPArena Investors LP acquired an undisclosed majority interest in GHS Interactive Security LLC, a Woodland Hills-based provider of security systems services.
MultiPlan IncChurchill Capital Corp III5,678.0Churchill Capital Corp III (Churchill) definitively agreed to merge with MultiPlan Inc (MultiPlan), a New York-based provider of health care cost management services, from Hellman & Friedman LLC, for USD 5.678 bil, in a stock swap reverse takeover transaction. The consideration was to consist of USD 1.521 bil in cash and USD 4.157 bil in Churchill common shares. Upon completion, Churchill and MultiPlan shareholders were to own 38.4% interest and 61. 6% stake in the merged entity, respectively. The combined entity will be named MultiPlan Inc.
Benefytt Technologies IncDaylight Beta Parent Corp441.9Daylight Beta Parent Corp, a special acquisition vehicle formed by Madison Dearborn Partners LLC, definitively agreed to merge with Benefytt Technologies Inc (Benefytt Technologies), a Tampa-based health insurance technology company, for USD 31 in cash per share, or a total value of USD 441. 915 mil, in a leveraged buyout transaction, via tender offer. The offer was conditioned upon at least majority of Benefytt Technologies shares being tendered. Originally, in February 2020, Benefytt Technologies announced that it was seeking a buyer for its entire share capital.
WPIX TV StationMission Broadcasting Inc75.0Mission Broadcasting Inc planned to acquire WPIX TV Station, a New York City-based television broadcaster, from EW Scripps Co, for an estimated USD 75 mil.
GPM Investments LLCHaymaker Acquisition Corp IIHaymaker Acquisition Corp II (Haymaker) signed a letter of intent to merge with GPM Investments LLC, a Richmond-based convenience store operator, from ARKO Holdings Ltd (ARKO) and Davidson Kempner Capital Management LP, in a three-way merger. Concurrently, Haymaker signed a letter of intent to merge with ARKO, in a three-way merger.
Stitcher IncSirius XM Holdings Inc325.0Sirius XM Holdings Inc (SiriusXM), a unit of Liberty Media Corp, agreed to acquire Stitcher Inc (Stitcher), a San Francisco-based software publisher, from EW Scripps Co, for USD 325 mil. The consideration was to consist of USD 265 mil cash and up to USD 60 mil in profit-related payments. Originally, in July 2020, SiriusXM was rumored to be planning to acquire Stitcher.
Pioneer AstronauticsVoyager Space Holdings IncVoyager Space Holdings Inc acquired Pioneer Astronautics, a Lakewood-based provider of research and development services for an undisclosed amount of cash and undisclosed amount of stake.
SRE Mortgage Alliance IncDanto Invest Mgmt Inc14.0Danto Investment Management Inc, a unit of Danto Holdings Corp of Japan, agreed to acquire a 50% interest in SRE Mortgage Alliance Inc, an El Segundo-based loan broker, from SRE Technologies Inc, for a total USD 14 mil.
Redwood Reserves LtdTAAT Lifestyle & Wellness Ltd1.2TAAT Lifestyle & Wellness Ltd (TAAT) of Canada entered into a Letter of Intent {LoI} to acquire the entire share capital of Redwood Reserves Ltd, a Portland-based wholesaler of hemp products, for USD 1.155 mil in cash and undisclosed TAAT common shares.
Chewse IncFoodee Media IncFoodee Media Inc of Canada, a unit of Invoke Media Inc, acquired Chewse Inc, a San Francisco-based food service contractor. Terms were not disclosed.
Chemical Data LPICISICIS of the UK, a unit of Reed Business Information Ltd, acquired Chemical Data LP, a Houston-based manufacturer of chemical products.
Asociar LLCFarad AliFarad Ali acquired an undisclosed majority interest in Asociar LLC, a Plano-based provider of administrative management and general management consulting services.
Maxim Integrated Products IncAnalog Devices Inc21,290.9Analog Devices Inc (ADI) definitively agreed to merge with Maxim Integrated Products Inc, a San Jose-based manufacturer and wholesaler of linear and mixed-signal integrated circuits, in a stock swap transaction valued at a total USD 21.291 bil. ADI offered 0. 63 common shares per Maxim common share. Based on ADI's closing stock price of USD 124.5 on 10 July 2020, the last full trading day prior the announcement of the transaction, each Maxim share was valued at USD 78.435. Upon completion, ADI and Maxim were to own 69% and 31%, respectively in the merged entity. Originally, in July 2020, ADI was rumored to be planning to acquire the entire share capital of Maxim.
Fisker IncSpartan Energy Acquisition1,750.0Spartan Energy Acquisition Corp (SPAC) definitively agreed to merge with Fisker Inc (Fisker), a Torrance-based manufacturer of electric vehicles, in a stock swap reverse takeover transaction valued at USD 1. 75 bil. Upon completion, Fisker was to own 59.5% and SPAC (18.8%) together with other investors the remaining 40.5% of the merged entity. Originally, in July 2020, Fisker was rumored to be seeking a buyer for the company.
4C Insights IncMediaocean LLCMediaocean LLC, a unit of Vista Equity Partners LLC, definitively agreed to acquire 4C Insights Inc, a Chicago-based data science and marketing technology company, from Prime Technology Ventures NV, Jump Capital LLC and Kayne Partners, a unit of Kayne Anderson Capital Advisors LP. Terms of the deal were not disclosed.
Silver Peak Systems IncHewlett Packard Enterprise Co925.0Hewlett Packard Enterprise Co definitively agreed to acquire the entire share capital of Silver Peak Systems Inc, a Santa Clara-based software publisher, for an estimated USD 925 mil in cash.
T&R Lumber Co-Operating AssetsUniversal Forest Products IncUniversal Forest Products Inc acquired operating assets of T&R Lumber Co, a Rancho Cucamonga-based manufacturer of pottery product.
Altvia Solutions LlcBow River Capital PartnersBow River Capital Partners acquired an undisclosed majority interest in Altvia Solutions LLC, a Broomfield-based software publisher, in a leveraged buyout transaction.
ABC Cooling Heating & PlumbingSvc Champions Heating & AirService Champions Heating & Air Conditioning, a unit of Wrench Group LLC, acquired ABC Cooling Heating & Plumbing Inc, a Hayward-based plumbing, heating and air-conditioning contractor.
Terna Energy SA-Operating WindInnergex Renewable Energy Inc56.8Innergex Renewable Energy Inc of Canada acquired 6 operating wind farms of Terna Energy SA, an Athens-based alternative energy sources establishment, for a total USD 56.8 mil.
Dinerstein Co-ApartmentCastle Lanterra Properties LLC129.0Castle Lanterra Properties LLC acquired apartment complex,tx of Dinerstein Co, lessor of residential buildings and dwellings, for a total USD 129 mil.
MP Mine Operations LLCFortress Value AcquisitionFortress Value Acquisition Corp (FVAC), a unit of Fortress Acquisition Sponsor LLC, definitively agreed to merge with MP Mine Operations LLC, a Las Vegas-based gold ore mine operator, from JHL Capital Group LLC and QVT Financial LP. Concurrently, FVAC definitively agreed to merge with Secure Natural Resources LLC.
Secure Natural Resources LLCFortress Value AcquisitionFortress Value Acquisition Corp (FVAC), a unit of Fortress Acquisition Sponsor LLC, definitively agreed to merge with Secure Natural Resources LLC, a Chicago-based gold ore mine operator. Concurrently, FVAC definitively agreed to merge with MP Mine Operations LLC.
InnerWorkings IncHH Global Ltd158.1HH Global Ltd of the UK, a unit of Blackstone Tactical Opportunities EARN Holding LLC, definitively agreed to acquire the entire share capital of InnerWorkings Inc, a Chicago-based provider of print procurement services, for USD 3 in cash per share, or a total USD 158.068 mil.
ERA Real Estate LinksBerkshire Hathaway HomesvcsBerkshire Hathaway Homeservices Indiana Realty, a unit of HSF Affiliates LLC, acquired ERA Real Estate Links, a Carmel-based real estate agency, from ERA Franchise Systems LLC.
RenCo Electronics IncStandex International Corp28.0Standex International Corp acquired RenCo Electronics Inc, a Rockledge-based electronic parts and equipment merchant wholesaler, for an estimated USD 28 mil. The consideration was to consist of USD 28 mil and undisclosed amount in profit- related payments.