TargetAcquirerValue ($millions)Synopsis
Industrial Property Trust IncPrologis Inc3990.0Prologis Inc (Prologis) definitively agreed to acquire the entire share capital of Industrial Property Trust Inc (IPT), a Denver-based lessor of residential buildings and dwellings, for an estimated USD 3.99 billion in cash including an undisclosed amount of assumed liabilities. Originally, in July 2019, Prologis was rumored to be planning to acquire the entire share capital of IPT.
Milacron Holdings CorpHillenbrand Inc2015.8Hillenbrand Inc (HI) definitively agreed to merge with Milacron Holdings Corp (MHC), a Cincinnati-based manufacturer of plastics and rubber industry machinery, for a total USD 2.016 bil, including the assumption of USD 686 million in liabilities. The consideration was to consist of USD 11.8 in cash per share and 0.1612 HI share per MHC share. Based on HI’s closing stock price of USD 38. 87 on 11 July 2019, the last full trading day prior to the announcement, each MHC share was valued at USD 18.066. Upon completion, HI and MHC shareholders were to own 16% stake and 84% interest, respectively in the combined company.
Prospect Medical Holdings Inc-Acute Care Hospitals & Health Facilities Portfolio(16)MPT Operating Partnership LP1800.0MPT Operating Partnership LP (MPT), a unit of Medical Properties Trust Inc, definitively agreed to acquire 16 Acute Care Hospitals & Health Facilities Portfolio of Prospect Medical Holdings Inc (Properties Medical), a Los Angeles-based provider of health care management services, ultimately owned by Leonard Green & Partners LP, for an estimated USD 1.8 billion. The consideration was to consist of USD 1.55 billion and USD 250 million in profit related payments. Concurrently, MPT definitively agreed to acquire 7 community hospitals of Saint Luke’s Health Systems Inc and 1 acute care hospital of Halsen Healthcare LLC
Carrizo Oil & Gas IncCallon Petroleum Co1214.3Callon Petroleum Co (Callon) definitively agreed to merge with Carrizo Oil & Gas Inc (Carrizo), a Houston-based producer of crude petroleum and natural gas, in a stock swap transaction valued at USD 1.214 billion. Callon offered 2.05 common shares per Carrizo share. Based on Callon’s closing stock price of USD 6.4 on 12 July 2019, the last full trading day prior to the announcement, each Carrizo share was valued at USD 13.12. Upon completion, Callon and Carrizo shareholders were to own 54% interest and 46% stake in the merged entity, respectively.
United Financial Bancorp IncPeople’s United Financial Inc757.8People’s United Financial Inc (People’s) agreed to merge with United Financial Bancorp Inc (United Financial), a Hartford-based commercial bank, for a total USD 757.76 mil, in a stock swap transaction. People’s offered 0.875 per United Financial common share, based on People’s closing stock price on 12 July 2019, the last full trading day prior to the announcement, each of United Financial’s share was valued at USD 14.744.
Tower International IncAutokiniton Global Group LP661.7Autokiniton Global Group LP, a unit of KPS Capital Partners LP, definitively agreed to acquire the entire share capital of Tower International Inc, a Livonia-based manufacturer of motor vehicle transmissions and power train parts, for USD 31 in cash per share, or a total of USD 661.748 mil.
MPD Chemicals LLCEntegris Inc165.0Entegris Inc acquired MPD Chemicals LLC, an Ambler-based manufacturer of specialty chemicals, for an estimated USD 165 million in cash.
Saint Luke’s Health Systems Inc-Community Hospitals(7)MPT Operating Partnership LP145.4MPT Operating Partnership LP (MPT), a unit of Medical Properties Trust Inc, definitively agreed to acquire 7 community hospitals of Saint Luke’s Health Systems Inc, a Kansas City-based owner and operator of hospitals, for a total USD 145.4 million. Concurrently, MPT definitively agreed to acquire 16 acute care hospitals & behavioral health facilities portfolio of Prospect Medical Holdings Inc and 1 acute care hospital of Halsen Healthcare LLC.
Carolina Trust BancShares IncCarolina Financial Corp100.3Carolina Financial Corp (Carolina Financial) definitively agreed to merge with Carolina Trust BancShares Inc (Carolina Trust), a Lincolnton-based commercial bank, in a stock swap transaction valued at USD 100.258 million. Carolina Financial offered 0.3 common shares per Carolina Trust share. Based on Carolina Financial’s closing stock price of USD 35.62 on 12 July 2019, the last full trading prior the announcement.
Tech Offices Portfolio,USGFH Capital Ltd100.0GFH Capital Ltd of United Arab Emirates, a unit of GFH Financial Group BSC, acquired Tech Offices Portfolio, owner and operator of nonresidential buildings, for a total USD 100 mil, in a leveraged buyout transaction.
Argus Holdings LLCAflac Inc96.0Aflac Inc definitively agreed to acquire Argus Holdings LLC, intermediator, for a total USD 96 million. The consideration was to consist of USD 75 million in cash and USD 21 million notes. The transaction was to include Argus Dental & Vision Inc.
Tampa Distribution Center,Tampa,FloridaLink Industrial Properties69.3Link Industrial Properties, a unit of Blackstone Group LP, acquired Tampa Distribution Center, a Tampa-based lessor of nonresidential buildings, for a total USD 69.25 mil.
Tendril Networks IncSimple Energy Inc53.0Simple Energy Inc acquired the entire share capital of Tendril Networks Inc, a Boulder-based software publisher, for a total USD 53 mil.
CC Financial CorpRent-A-Center Inc49.5Rent-A-Center Inc (RCI), a unit of EMI Group Ltd, definitively agreed to acquire CC Financial Corp, an Atlanta-based rental center operator, for an estimated USD 49.534 million. The consideration was to consist of USD 30 million in cash and the issuance of 0.702 million common shares valued at USD 19.534 million. The shares were valued based on RCI’s closing stock price of USD 27.83 on 12 July 2019, the last full trading day prior to the announcement.
New Elk Coal Co LLCAllegiance Coal Ltd42.2Allegiance Coal Ltd of Australia, a unit of Gullewa Ltd, planned to acquire the entire share capital of New Elk Coal Co LLC, a Weston-based bituminous coal mine operator, from Cline Mining Corp, for a nominal consideration of USD 1 plus the assumption of liabilities valued at USD 42.214 mil.
Halsen Healthcare LLC-Acute Care Hospital(1)MPT Operating Partnership LP40.0MPT Operating Partnership LP (MPT), a unit of Medical Properties Trust Inc, definitively agreed to acquire 1 acute care hospital of Halsen Healthcare LLC, a Watsonville-based owner and operator of hospitals, for a total USD 40 million. Concurrently, MPT definitively agreed to acquire 16 acute care hospitals & behavioral health facilities portfolio of Prospect Medical Holdings Inc and 7 community hospitals of Saint Luke’s Health Systems Inc.
Cassens Business Center,Fenton,MissouriRCRL LLC14.0RCRL LLC acquired Cassens Business Center, a Fenton-based warehouse, from Green Street, for a total USD 14 mil.
Nambe LLCPortmeirion Group PLC12.0Portmeirion Group PLC of the UK acquired Nambe LLC, a Santa Fe-based manufacturer and retailer of homewares, for a total USD 12 mil.
MSM Security Services LLC-Certain Inspection & Background Investigation AssetsSecuritas Critical Infrastructure Services Inc11.0Securitas Critical Infrastructure Services Inc, a unit of Securitas AB, agreed to acquire certain inspection & background investigation assets of MSM Security Services LLC, a Chevy Chase-based provider of investigation services, ultimately owned by Innoviss Inc, for a total USD 11 mil.
HighCom Armor Solutions IncXTek Ltd2.6XTek Ltd of Australia agreed to acquire the entire share capital of HighCom Armor Solutions Inc, a Columbus-based manufacturer of surgical appliance and supplies, for a total USD 2. 552 mil, in a stock swap transaction. The transaction was to consist of an estimated USD 1.262 million cash and 4 million ordinary shares valued at USD 1.29 million and an undisclosed amount in profit- related payments.
Green Lady IP IncCannabis One Holdings Inc0.3Cannabis One Holdings Inc of Canada definitively agreed to acquire the entire share capital of Green Lady IP Inc, retailer, for a total USD 0.3 mil.
Mavupharma IncAbbVie IncAbbVie Inc acquired Mavupharma Inc, a Kirkland-based biopharmaceutical company. Financial terms of the transaction were not disclosed.
Vungle IncBlackstone Group LPBlackstone Group LP planned to acquire Vungle Inc, a San Francisco-based provider of mobile video advertisement network services, in a leveraged buyout transaction. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at USD 750 mil.
LSI Lender Services LLC-AssetsBrown & Brown of Kentucky IncBrown & Brown of Kentucky Inc, a unit of Brown & Brown Inc, acquired assets of LSI Lender Services LLC, a Salem-based provider of marketing consulting services. Terms of the transaction were not disclosed.
Custom Ingredients IncCharkit Chemical Co LLCCharkit Chemical Co LLC, a unit of LeBaronBrown Industries LLC, acquired Custom Ingredients Inc, a Chester-based manufacturer of chemical products.
USAA Asset Management Co-Brokerage & Wealth-Management OperationsCharles Schwab CorpCharles Schwab Corp was rumored to be planning to acquire Brokerage & Wealth- Management Operations of USAA Asset Management Co, a San Antonio-based provider of investment management services, owned by Victory Capital Holdings Inc. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at USD 2 bil.
Hydrogel Vision CorpClerio Vision IncClerio Vision Inc acquired Hydrogel Vision Corp, a Sarasota-based manufacturer of ophthalmic goods. Terms were not disclosed.
Arizona Centers for Digestive Health PLLCCovenant Surgical Partners IncCovenant Surgical Partners Inc, a unit of Kohlberg Kravis Roberts & CoLP, acquired an undisclosed majority interest in Arizona Centers for Digestive Health PLLC, a Glendale-based owner and operator of health centers.
Ooyala Inc-Flex Media Platform BusinessDalet Digital Media Systems SADalet Digital Media Systems SA of France planned to acquire flex media platform business of Ooyala Inc, a Mountain View-based internet service provider.
Invincible Boat Co LLCEagleTree Partners IVEagleTree Partners IV, a unit of EagleTree Capital LP, acquired an undisclosed majority interest in Invincible Boat Co LLC, an Orlando-based manufacturer of saltwater fishing boat, in a leveraged buyout transaction. Terms of the transaction were not disclosed.
First State Bank IncFarmers Bank & Trust CoFarmers Bank & Trust Co, a unit of Farmers Bancorp Inc, planned to acquire the entire share capital of First State Bank Inc, a Central City-based commercial bank, from Community Bancorp of Kentucky Inc.
Morphe LLCGeneral Atlantic LLCGeneral Atlantic LLC was rumored to be planning to acquire an undisclosed majority interest in Morphe LLC, a San Francisco-based manufacturer of toilet preparations, in a leveraged buyout transaction. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at USD 2 bil.
Medisource Partners LLCGenerex Biotechnology CorpGenerex Biotechnology Corp of Canada agreed to acquire the entire share capital of Medisource Partners LLC, a Dallas-based medical equipment and supplies merchant wholesaler, in a stock swap transaction.
Ohio Basement AuthorityGroundworks CosGroundworks Cos (Groundworks) acquired Ohio Basement Authority, a Columbus-based industrial supplies merchant wholesaler. Concurrently, Groundworks acquired Florida Foundation Authority LLC.
Florida Foundation Authority LLCGroundworks CosGroundworks Cos (Groundworks) acquired Florida Foundation Authority LLC, a DeBary-based civil engineering constructor. Concurrently, Groundworks acquired Ohio Basement Authority.
Safebuilt Insurance ServicesIntegrated Specialty Coverages LLCIntegrated Specialty Coverages LLC acquired Safebuilt Insurance Services, a Carlsbad-based provider of insurance services.
Barnes Physical Therapy LLCInvestor GroupAn investor group, comprised of Tricity Pain Associates PA and Spindletop Pain Management Holdings LLC acquired Barnes Physical Therapy LLC, a San Antonio-based physician’s office operator.
EN Engineering LLCKohlberg & Co LLCKohlberg & Co LLC definitively agreed to acquire an undisclosed majority interest in EN Engineering LLC (EN Engineering), a Warrenville-based provider of engineering, consulting, and automation services, from General Atlantic LLC (General Atlantic), in a secondary buyout transaction. Originally, General Atlantic acquired an undisclosed majority interest in EN Engineering.
Ashby Street Outdoor Holdings LLCLamar Advertising CoLamar Advertising Co acquired Ashby Street Outdoor Holdings LLC, a Fayetteville-based display advertising agency, from Tinicum Capital Partners II LP, ultimately owned by Tinicum Inc. Terms were not disclosed.
Wash Time Express IncMammoth Holdings LLCMammoth Holdings LLC, a unit of Red Dog Equity LLC, acquired Wash Time Express Inc, an Austell-based car wash operator.
Cascade StationMetlife Investment Management LLCMetlife Investment Management LLC, a unit of MetLife Inc, acquired Cascade Station, a Portland-based retailer.
Packaging Progressions IncMiddleby CorpMiddleby Corp acquired Packaging Progressions Inc, a Souderton-based manufacturer of packaging machinery.
Hunton Group Inc-Oklahoma City BranchO’Connor Co IncO’Connor Co Inc, a unit of Munch’s Supply Co Inc, acquired oklahoma city branch of Hunton Group Inc, a Houston-based air- conditioning equipment and supplies merchant wholesaler.
Healthline Media IncRed Ventures LLCRed Ventures LLC acquired Healthline Media Inc, a San Francisco-based internet portal operator, from Healthline Networks Inc. Terms were not disclosed.
Symphony Performance Health Inc-Population Health Line BusinessSA Ignite IncSA Ignite Inc planned to acquire the entire share capital of the population health line business of Symphony Performance Health Inc, an Alpharetta-based provider of healthcare analytics and population health management services. Terms were not disclosed.
Heli-Parts Nevada LLCSalus Aviation LtdSalus Aviation Ltd of New Zealand, a unit of Bancorp Wealth Management New Zealand Ltd, acquired Heli- Parts Nevada LLC, a Boulder City-based manufacturer of aircraft engines and engine parts.
Service Center Metals LLCSCM Industries LLCSCM Industries LLC, a unit of Riverstone Group LLC, acquired an undisclosed majority interest in Service Center Metals LLC, a Prince George-based manufacturer and wholesaler of aluminum extruded products. Terms were not disclosed.
Taronis Fuels IncShareholdersTaronis Technologies Inc planned to spin off Taronis Fuels Inc, chemical and allied products merchant wholesaler, to its shareholders.
QC Laboratories IncSintavia LLCSintavia LLC acquired QC Laboratories Inc, a Hollywood-based provider of non- destructive testing services. Terms were not disclosed.
Power Stretch StudiosStretch Relief LLCStretch Relief LLC planned to acquire Power Stretch Studios, a New York City-based provider of physical conditioning services.
Golden Triangle Enterprises IncTexas Oil & Minerals IncTexas Oil & Minerals Inc acquired the entire share capital of Golden Triangle Enterprises Inc, a Las Vegas-based provider of business support services.
High Street Retail Portfolio,CA(2)The Sterling Organization LLCThe Sterling Organization LLC acquired High Street Retail Portfolio, a West Hollywood-based lessor of nonresidential buildings, in a leveraged buyout transaction.
Key HolidaysUnited Rail IncUnited Rail Inc acquired Key Holidays, a Walnut Creek-based provider of travel arrangement and reservation services. The transaction included Key Tours Intl.
Woodland United WayUnited Way CaliforniaUnited Way California acquired the entire share capital of Woodland United Way, a Woodland-based provider of child and youth services.
JRG Advisors LLCUSI Insurance Services LLCUSI Insurance Services LLC, jointly owned by KKR & Co LP and Caisse De Depot Et Placement Du Quebec, acquired JRG Advisors LLC, a Wexford-based insurance agency. Terms of the transaction were not disclosed.
Kleins Restoration Services LLCYak Access LLCYak Access LLC, jointly owned by Platinum Equity LLC and Beasley Forest Products, acquired Kleins Restoration Services LLC, a Middlebranch-based highway, street and bridge constructor. Terms were not disclosed.
US M&A Deals Announced July 12 to 18, 2019