US M&A Deals Announced August 28 to September 03, 2020
Target Acquirer Value ($millions) Synopsis
Epicor Software Corp Clayton Dubilier & Rice LLC 4,700.00 Clayton Dubilier & Rice LLC, a unit of Clayton Dubilier & Rice Holdings LP, definitively agreed to acquire Epicor Software Corp (Epicor), an Austin-based developer of enterprise business software solutions, from KKR & Co Inc (KKR), for a total value of $4.7 bil, in a tertiary buyout transaction. Previously, KKR acquired Epicor, in a secondary buyout transaction. Originally, Eagle Parent Inc acquired Epicor in a leveraged buyout transaction. Originally, in August 2019, KKR was rumored to be seeking a buyer for Epicor.
QuantumScape Corp Kensington Capital Acquisition 3,688.00 Kensington Capital Acquisition Corp (KCAC) definitively agreed to merge with QuantumScape Corp, a San Jose-based manufacturer of advanced energy storage, from Volkswagen Group of America Investments LLC, a unit of Volkswagen Group of America Inc, ultimately owned by Volkswagen AG and other shareholders, in exchange for 368.8 million KCAC’s Class A common shares valued at $3. 688 bil, in a stock swap reverse takeover transaction. The shares were valued based on KCAC’s closing stock price of $10 on 2 September 2020, the last full trading day prior to the announcement. On completion, KCAC was to be renamed QuantumScape Corp and will be listed on NYSE under the symbol QS.
Skillz Inc Flying Eagle Acquisition Corp 3,500.00 Flying Eagle Acquisition Corp (Flying Eagle) definitively agreed to merge with Skillz Inc (Skillz), a San Francisco-based online mobile gaming company, for a total value of $3.5 billion. Originally, in September 2020, Flying Eagle was rumored to merge with Skillz.
Aimmune Therapeutics Inc Nestle Health Science SA 1,974.874 Nestle Health Science SA of Switzerland, a unit of Nestle SA, definitively agreed to acquire the remaining 80.875% interest, or 53.859 million common shares, which it did not already own, in Aimmune Therapeutics Inc, a Brisbane-based manufacturer of pharmaceutical preparation, for $34.5 in cash per share, or a total $1.975 bil, via tender offer.
Svcmas Global Hldg Inc-Svcmas RW Purchaser LLC 1,553.00 RW Purchaser LLC, a unit of Roark Capital Management LLC, agreed to acquire the ServiceMaster Brands business of ServiceMaster Global Holdings Inc (ServiceMaster Global), a Memphis-based provider of pest control, restoration and cleaning services, for an estimated value of $1.553 billion in cash, in a leveraged buyout transaction. Upon completion, ServiceMaster Global will change its name to Terminix. Originally, in January 2020, ServiceMaster Global announced that it was seeking a buyer for its ServiceMaster Brands business.
Rosetta Stone Inc Cambium Learning Group Inc 766.851 Cambium Learning Group Inc, a unit of Veritas Capital Management LLC, definitively agreed to acquire the entire share capital of Rosetta Stone Inc, an Arlington-based software publisher, for $766.851 mil.
CCIT II CIM Real Estate Finance Trust 736.371 CIM Real Estate Finance Trust Inc (CMFT) definitively agreed to merge with Cole Office & Industrial REIT (CCIT II) Inc, a Phoenix-based lessor of nonresidential buildings, for an estimated $736.371 mil, in a stock swap transaction. Concurrently, CMFT definitively agreed to merge with Cole Office & Industrial REIT (CCIT III) Inc and Cole Credit Property Trust V Inc.
EDP Renovaveis-renewable portf Connor Clark & Lunn 676.00 Connor Clark & Lunn Infrastructure Ltd of Canada, a unit of Connor Clark & Lunn Financial Group Ltd, agreed to acquire an 80% interest in renewable power porfolio of EDP Renovaveis SA, a Madrid-based alternative energy sources establishment, ultimately owned by EDP Energias de Portugal SA, for $676 mil.
Akcea Therapeutics Inc Ionis Pharmaceuticals Inc 445.053 Ionis Pharmaceuticals Inc definitively agreed to acquire the remaining 24% stake or 24.521 million common shares, which it did not already own, in Akcea Therapeutics Inc, a Boston-based manufacturer of biological products, for $18.15 in cash per share, or a total value of $445.053 mil, via a tender offer. The transaction is conditional upon at least 50% of the common shares being tendered.
Gogo Inc-Coml Aviation Bus Intelsat SA 400.00 Intelsat SA of Luxembourg, a unit of BC Partners LLP, definitively agreed to acquire the commercial aviation business (Unit) of Gogo Inc (Gogo), an Itasca-based provider of telecommunications services, for a total value of $400 million in cash. Originally, in August 2020, Gogo announced that it was seeking a buyer for its Unit.
Landsea Re California Inc LF Capital Acquisition Corp 359.758 LF Capital Acquisition Corp definitively agreed to merge with Landsea Real Estate California Inc, a Newport Beach-based provider of housing construction services, from Landsea Green Properties Co Ltd, owned by Greensheid Corp, for a total $359.758 mil, in a stock swap transaction.
Cole Credit Property Trust V CIM Real Estate Finance Trust 333.387 CIM Real Estate Finance Trust Inc definitively agreed to merge Cole Credit Property Trust V Inc, a Phoenix-based provider of real estate services, for an estimated $333.387 mil, in a stock swap transaction. Concurrently, CMFT definitively agreed to merge with Cole Office & Industrial REIT (CCIT II) Inc, and Cole Office & Industrial REIT (CCIT III) Inc.
Shiloh Industries Inc-Assets Grouper Holdings LLC 218.00 Grouper Holdings LLC, a unit of MiddleGround Capital LLC, agreed to acquire the assets of the bankrupt Shiloh Industries Inc (Shiloh), a Valley City-based manufacturer and wholesaler of lightweighting, noise and vibration products, for a total $218 mil, via an auction. Originally, in August 2020, Shiloh announced that it was seeking a buyer for its assets.
Priority Tech Hldg-RentPayment MRI Software LLC 180.00 MRI Software LLC, a unit of GI Partners LLP, definitively agreed to acquire the RentPayment business of Priority Technology Holdings Inc, an Alpharetta-based provider of financial transactions services, for a total $180 million in cash.
LeapFrog Systems Inc ASGN Inc 72.00 ASGN Inc acquired LeapFrog Systems Inc, a Boston-based provider of management consulting services, for a total $72 million in cash.
CCIT III CIM Real Estate Finance Trust 40.099 CIM Real Estate Finance Trust Inc (CMFT), definitively agreed to merge with Cole Office & Industrial Reit (CCIT III) Inc, a Phoenix-based lessor of nonresidential buildings, for a total $40.099 mil, in a stock swap transaction. Concurrently, CMFT definitively agreed to merge with Cole Office & Industrial REIT (CCIT II) Inc and Cole Credit Property Trust V Inc.
iCan Benefit Group LLC Quad M Solutions Inc 17.664 Quad M Solutions Inc definitively agreed to acquire the entire share capital of iCan Benefit Group LLC, a Boca Raton-based insurance agency, for a total $17.664 million. The consideration was to consist of $0.164 in common shares and the assumption of $17. 5 in liabilities. The shares were valued based on Quad M Solutions Inc’s closing stock price of $0.25 on 27 August 2020, the first full trading day prior to the announcement.
Smart Repair Pro Inc Medigus Ltd 2.50 Medigus Ltd of Israel, signed a Letter of Intent {LoI} to acquire a 50.01% interest in Smart Repair Pro Inc, owner and operator of e- commerce retail sites, for an estimated $2.5 million. The consideration was to consist of $1.25 mil, the issuance of restricted ADS valued at $0.5 mil, and up to $0. 75 million in profit-related payments. The transaction was to include Purex Inc.
Portland Asset Holding Corp Vibe Bioscience Ltd 1.442 Vibe Bioscience Ltd of Canada definitively agreed to acquire the entire share capital of Portland Asset Holding Corp, a Calabasas-based retailer, from Ventura Cannabis & Wellness Corp, for a total $1.442 mil, in a stock swap transaction.
Cathedral Asset Holding Corp Vibe Bioscience Ltd .498 Vibe Bioscience Ltd of Canada definitively agreed to acquire the entire share capital of Cathedral Asset Holding Corp, a Redding-based manufacturer of medicinals and botanicals, from Ventura Cannabis & Wellness Corp, for a total $0.498 mil, in a stock swap transaction. The consideration was to consist of $0.254 million in common shares and $0.244 million in warrants.
Caballos Creek Oil Field,TX Nostra Terra Oil & Gas Co Plc .425 Nostra Terra Oil & Gas Co Plc of the UK agreed to acquire Caballos Creek Oil Field, an Atascosa-based producing oil field, from ORO Resources LLC, for a total $0.425 mil.
Highlands-East Denver Assets True Oil LLC .376 True Oil LLC acquired the East Denver assets of Highlands Natural Resources Corp, a Denver-based producer of crude petroleum and natural gas, ultimately owned by Zoetic International PLC, for a total $0.376 mil.
Ocean Stn Tr-Station KTDD 247 Media Ministries .32 247 Media Ministries agreed to acquire FM Station KTDD of Ocean Station Trust II LLC, radio network, ultimately owned by iHeartMedia Inc, for a total $0.32 mil.
Voxtel Inc Allegro MicroSystems LLC Allegro MicroSystems LLC acquired Voxtel Inc, a Beaverton-based provider of electronic and precision equipment repair and maintenance services. The financial terms of the transaction were not disclosed.
Aeromatrix Composites Architect Equity LLC Architect Equity LLC acquired Aerospace Composites Division (ACD) of AAR Corp, a Wood Dale-based manufacturer, wholesaler and lessor of new, overhauled and repaired engine and airframe parts and components and aircraft, in a leveraged buyout transaction. On completion, ACD was renamed Aeromatrix Composites.
Noho Health Inc Bayer AG Bayer AG of Germany agreed to acquire a 70% interest in Noho Health Inc, a New York City-based health and personal care merchandise retailer. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $225 million. Concurrently, Bayer AG of Germany was granted an option to acquire 30% in Noho Health Inc.
Red Duck Foods Inc Beaverton Foods Inc Beaverton Foods Inc, a unit of BG Specialty, acquired Red Duck Foods Inc, an Eugene-based producer of organic sauces. Terms were not disclosed.
Bluestem Brands Inc BLST Operating Co LLC BLST Operating Co LLC acquired the bankrupt Bluestem Brands Inc (Bluestem) , an Eden Praire-based hardware retailer, from Capmark Financial Group Inc (CFG). Originally, in March 2020, CFG announced that it was seeking a buyer for its Bluestem unit.
NextEdge Networks LLC Bow River Capital Partners Bow River Capital Partners acquired NextEdge Networks LLC, a San Francisco-based wireless telecommunications carrier, from Titan Grove Holdings LLC, in a leveraged buyout transaction. The transaction included Modus LLC.
Vehicle Administrative Service Brown & Brown Inc Brown & Brown Inc agreed to acquire Vehicle Administrative Services Ltd, a Dallas-based provider of automotive repair services.
DeDonato Enterprises LLC Canna Consumer Goods Inc Canna Consumer Goods Inc signed a letter of intent (LOI) to acquire DeDonato Enterprises LLC, a Dallas-based digital marketing agency.
AHEAD LLC Centerbridge Partners LP Centerbridge Partners LP definitively agreed to acquire an undisclosed majority interest in AHEAD LLC (AHEAD), a Chicago-based software publisher, from Court Square Capital Partners LP, in a leveraged buyout transaction. The financial terms of the transaction were not disclosed. Concurrently, Berkshire Partners LLC planned to acquire an undisclosed minority stake in AHEAD.
Bay Photo Inc Circle Graphics Inc Circle Graphics Inc acquired Bay Photo Inc, a Scotts Valley-based provider of photofinishing services.
GridFabric LLC CleanSpark Inc CleanSpark Inc acquired GridFabric LLC, a San Francisco-based reproducer of software.
10th Magnitude Inc Cognizant Technology Solutions Cognizant Technology Solutions Corp agreed to acquire 10th Magnitude Inc, a Chicago-based provider of computer systems design services. Terms of the transaction were not disclosed.
Riga Analytical Lab Inc Covalent Metrology Svcs Inc Covalent Metrology Services Inc acquired Riga Analytical Lab Inc, a Santa Clara-based manufacturer of electrical signals measuring and testing instruments. Terms of the deal were not disclosed.
TrueWealth LLC Creative Planning Inc Creative Planning Inc acquired TrueWealth LLC, an Atlanta-based investment advisor. The financial terms of the transaction were not disclosed.
Coastal Carolina Sedation Asso CRH Medical Corp CRH Medical Corp of Canada acquired a 51% interest in Coastal Carolina Sedation Associates LLC, a Raleigh-based physician’s office operator.
ByteSize Inc DataPerk LLC DataPerk LLC acquired ByteSize Inc, a Homewood-based information technology firm. Terms were not disclosed.
Love Funding Corp Dwight Capital LLC Dwight Capital LLC acquired Love Funding Corp, a Washington-based provider of real estate credit services, from Midland States Bancorp Inc.
ImmProNano Inc Emergex Vaccines Holdings Ltd Emergex Vaccines Holdings Ltd of the UK acquired ImmProNano Inc, a Doylestown-based provider of biotechnology research and development services. Terms of the transaction were not disclosed.
Green Compliance Inc Fincanna Capital Corp Fincanna Capital Corp of Canada acquired the entire share capital of Green Compliance Inc, a Sunrise-based reproducer of software.
Rotation Dynamics-Certain Ast Finzer Roller Inc Finzer Roller Inc acquired certain assets of Rotation Dynamics Corp, a Romeoville-based manufacturer of rollers, roll coverings and related products.
Triple K Fleet Services Inc FleetPride Inc FleetPride Inc, a unit of American Securities LLC, acquired Triple K Fleet Services Inc, a Harrisburg-based provider of automotive repair services.
Apply-A-Line LLC Frontline Road Safety Frontline Road Safety, a unit of Sterling Group Inc, acquired Apply-A-Line LLC, a Pacific-based highway, street and bridge constructor.
Storm Master Gutters Inc Installed Building Products Installed Building Products Inc planned to acquire Storm Master Gutters Inc, a Cherry Hill-based siding contractor.
Mason Erhman Bldg Annex,OR Investor Group An investor group, comprised of Harbert Management Corp and ScanlanKemperBard Cos LLC acquired Mason Erhman Building & Annex, a Portland-based lessor of nonresidential buildings.
GI Supply Inc Investor Group An investor group, comprised of Laborie Medical Technologies Inc, a unit of Patricia Industries AB and Signet Healthcare Partners LLC agreed to acquire GI Supply Inc, a Mechanicsburg-based provider of endoscopy and paracentesis products.
Clearview Cleaning Svc Inc Kellermeyer Bergensons Svcs Kellermeyer Bergensons Services LLC, a unit of Cerberus Capital Management LP, acquired Clearview Cleaning Service Inc, a Garden City-based provider of janitorial services.
CTI Towers Inc Melody Investment Advisors LP Melody Investment Advisors LP definitively agreed to acquire CTI Towers Inc, a Boston-based wireless telecommunications carrier, from Comcast Ventures Inc, ultimately owned by Comcast Corp, in a leveraged buyout transaction. The financial terms of the transaction were not disclosed.
Callyo 2009 Corp Motorola Solutions Inc Motorola Solutions Inc acquired Callyo 2009 Corp, a St. Petersburg-based software publisher. Terms were not disclosed.
Banc Intranets Llc Ncontracts LLC Ncontracts LLC, a unit of Gryphon Investors Inc, acquired Banc Intranets LLC, a Johnson City-based software publisher.
Synergy RV Transport Patrick Industries Inc Patrick Industries Inc acquired Synergy RV Transport, a Goshen-based provides motor vehicle towing services.
CareHere LLC Premise Health Inc Premise Health Inc, a unit of OMERS Private Equity Inc, definitively agreed to acquire CareHere LLC, a Brentwood-based operator of wellness centers for self- funded organization.
Florida Fire Safety Inc Pye-Barker Fire & Safety LLC Pye-Barker Fire & Safety LLC, a unit of Leonard Green & Partners LP, acquired Florida Fire Safety Inc, a Miami-based manufacturer. Terms were not disclosed.
American Fire & Safety Inc Pye-Barker Fire & Safety LLC Pye-Barker Fire & Safety LLC, a unit of Leonard Green & Partners LP, acquired American Fire & Safety Inc, a Temple-based manufacturer. Terms were not disclosed.
STRATIS IoT Inc RealPage Inc RealPage Inc acquired STRATIS IoT Inc, a Philadelphia-based software publisher.
Ali Industries Inc Rust-Oleum Corp Rust-Oleum Corp, a unit of RPM International Inc, acquired Ali Industries Inc, a Fairborn-based manufacturer of abrasive products. Terms of the transaction were not disclosed.
TimeZoneOne Schafer Condon Carter Schafer Condon Carter acquired TimeZoneOne, a Chicago-based provider of marketing consulting services.
EnCore Products Inc Schweiter Technologies AG Schweiter Technologies AG of Switzerland acquired EnCore Products Inc, a Statesville-based manufacturer of polystyrene foam products, from Newell Brands Inc.
ASI Hastings Inc Service Champions Inc Service Champions Inc, a unit of CenterOak Partners LLC, acquired ASI Hastings Inc, a San Diego-based plumbing, heating and air- conditioning contractor.
iD8-TripleSSS Media Developmen Six Red Marbles LLC Six Red Marbles LLC acquired iD8-TripleSSS Media Development, a New York City-based provider of postproduction services.
Needle Inc Stage Capital Management LLC Stage Capital Management LLC agreed to acquire Needle Inc, a Lehi-based software publisher.
CIT Bank NA-Tr & Wealth Sunflower Bank NA,Denver,CO Sunflower Bank NA, a unit of FirstSun Capital Bancorp, acquired the trust & wealth advisory business of CIT Bank NA, a Pasadena-based commercial bank, ultimately owned by CIT Group Inc.
Mohr Capital-U Ind Ppty,TX TA Realty LLC TA Realty LLC, a unit of Rockefeller Group International Inc, acquired Undisclosed Industrial Property in Grand Prairie, Texas of Mohr Capital LLC, a Dallas-based real estate investment firm.
Red Lobster Seafood Co Thai Union Group PCL Thai Union Group PCL of Thailand acquired the remaining 51% interest, which it did not already own, in Red Lobster Seafood Co, an Orlando-based limited-service restaurant operator, from Golden Gate Capital Inc. Terms were not disclosed.
Ventana Apartments,Dallas,TX Turner Impact Capital LLC Turner Impact Capital LLC acquired Ventana Apartments, a Dallas-based lessor of residential buildings and dwellings.
PhoneTag Inc YouMail Inc YouMail Inc acquired PhoneTag Inc, a New York City-based provider of telephone answering services.