Weekly wrap: C.H. Robinson, Lee Enterprises, Stanley Black

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Target Acquirer Value ($millions) Synopsis
CenterState Bank Corp South State Corp 3,220.0 South State Corp (SSC) definitively agreed to merge with CenterState Bank Corp (CSBC), a Winter Haven-based bank holding company, in a stock swap reverse takeover transaction valued at $3. 22 bil, via merger of equals. SSC offered 0.3001 common share per CSBC share. Based on SSC's closing stock price of $85.52 on 24 January 2020, the last full trading day prior to the announcement, each CSBC share was valued at $25.665. Upon completion, SSC and CSBC shareholders were to own 47% stake and 53% interest in the merged entity, respectively.
Navistar International Corp TRATON SE 2,954.1 TRATON SE of Germany, a unit of Volkswagen AG, planned to acquire the remaining stake, which it did not already own, in Navistar International Corp, a Lisle-based manufacturer of automobiles, for $35 in cash per share, or a total value of $2.954 bil, via an unsolicited offer.
Consolidated Aerospace Mfg LLC Stanley Black & Decker Inc 1,500.0 Stanley Black & Decker Inc (Stanley Black & Decker) definitively agreed to acquire Consolidated Aerospace Manufacturing LLC (CAM), a Brea-based manufacturer of specialty fasteners and components, from Tinicum Inc, for an estimated $1.5 billion in cash. Originally, in December 2019, Tinicum Inc was rumored to be seeking a buyer for its CAM unit. KKR & Co Inc and Stanley Black & Decker were named as potential rumored bidders.
Cincinnati Bell Inc U Infrastructure Fund Co 674.4 Undisclosed Infrastructure Fund Co plans to launch an unsolicited tender offer to acquire the entire share capital of Cincinnati Bell Inc (Cincinnati Bell), a Cincinnati-based provider of telecommunication services, for $12 in cash per share, or a total value of $674. 435 million. Originally, Brookfield Infrastructure Partners LP definitively agreed to merge with Cincinnati Bell.
CNX Midstream GP LLC CNX Midstream Partners LP 577.8 CNX Midstream Partners LP (CNXM) acquired the entire share capital of CNX Midstream GP LLC (General Partner), producer of crude petroleum and natural gas, from CNX Resources Corp (CNX), for a total $577.83 mil, in a stock swap transaction. The shares were valued based on CNXM's closing stock price of $15.27 on 28 January 2020, the last full trading prior to the announcement.
Stratus Video Interpreting Inc AMN Healthcare Inc 475.0 AMN Healthcare Inc, a unit of AMN Healthcare Services Inc, definitively agreed to acquire Stratus Video Interpreting Inc, a Clearwater-based wired telecommunications carrier, from CSDVRS LLC, ultimately owned by Kinderhook Industries LLC, for a total $475 mil.
Prime Distribution Services CH Robinson Worldwide Inc 225.0 CH Robinson Worldwide Inc definitively agreed to acquire Prime Distribution Services Inc, a Plainfield-based provider of long- distance freight trucking services, from Roadrunner Transportation Systems Inc, owned by Thayer Hidden Creek, for a total $225 mil.
Galvanize LLC K12 Inc 165.0 K12 Inc definitively agreed to acquire Galvanize LLC, a Denver-based provider of financial investment services, for an estimated $165 million in cash.
MAC Trailer Leasing Inc Mizuho Lease Co Ltd 145.0 Mizuho Lease Co Ltd of Japan planned to acquire a 50% interest in MAC Trailer Leasing Inc, a Newark-based provider of freight transportation arrangement services, from Marubeni Corp, for a total $145 mil.
Berkshire Hathaway-Operations Lee Enterprises Inc 140.0 Lee Enterprises Inc planned to acquire newspaper operations of Berkshire Hathaway Inc, an Omaha-based direct property and casualty insurance carrier, for a total $140 mil.
NovaBone Products LLC Halma PLC 137.0 Halma PLC of the UK acquired NovaBone Products LLC, a Jacksonville-based manufacturer of dental equipment and supplies, for a total $137 million. The consideration consisted of $97 million in cash and up to $40 million in profit-related payments.
Luxe Scottsdale Apartments Harbor Group International LLC 65.5 Harbor Group International LLC acquired Luxe Scottsdale Apartments, a Scottsdale-based lessor of residential buildings and dwellings, for a total $65. 5 mil.
RLJ Lodging Tr-Marriott Hotels Jrk Property Holdings Inc 65.0 Jrk Property Holdings Inc acquired RLJ Lodging Trust-Marriott Hotels(5), an Austin-based hotel operator, for a total $65 mil.
Crossroads Towne Ctr Consolidated-Tomoka Land Co 61.8 Consolidated-Tomoka Land Co acquired Crossroads Towne Center, a Phoenix-based owner and operator of nonresidential buildings, for a total $61.8 mil.
Sherwood Bedding Group LLC Tempur Sealy International Inc 40.0 Tempur Sealy International Inc definitively agreed to acquire an 80% interest in Sherwood Bedding Group LLC, an Orlando-based manufacturer of mattresses, for a total $40 mil.
Mindcrest Inc DWF Group PLC 18.5 DWF Group PLC of the UK definitively agreed to acquire Mindcrest Inc, a Chicago-based law office, for a total $18.5 million. The consideration was to consist of $10 million in cash and $8.5 million in common shares.
Residential Property,FL Sun Residential Reit 11.0 Sun Residential Real Estate Investment Trust agreed to acquire a 51% majority interest in Fender Musical Instruments Corp, a Tallahassee-based lessor of residential buildings, from Westdale Real Estate Investment & Management for a total $11 mil.
Audacy Corp EOS Defense Systems USA Inc 6.9 EOS Defense Systems USA Inc, a unit of Electro Optic Systems Holdings Ltd, agreed to acquire Audacy Corp, a Mountain View-based provider of satellite telecommunications services, for a total $6.893 mil.
Bojangles Rest Inc-Rest Four Corners Property Trust 1.5 Four Corners Property Trust Inc acquired Bojangles Restaurant Inc-Restaurant Portfolio, full-service restaurant operator, from Bojangles Restaurants Inc, ultimately owned by Bojangles Holdings Inc, for a total $1.5 mil.
Flexi-Van Leasing Inc American Intermodal Management American Intermodal Management LLC, a unit of I Squared Capital Advisors LLC, agreed to merge with Flexi- Van Leasing Inc, a Kenilworth-based provider of specialized freight trucking services.
Broadway Gold Mining-Madison American Pacific Mining Corp American Pacific Mining Corp of Canada was granted an option to acquire madison copper gold project of Broadway Gold Mining Ltd, a Vancouver-based gold ore mine operator.
Blackstone Tech Grp Inc-Fed ASGN Inc ASGN Inc acquired federal division of Blackstone Technology Group Inc, a San Francisco-based provider of computer facilities management services.
Emerson Court,Frisco,Texas Bell Partners Inc Bell Partners Inc acquired Emerson Court, a Frisco-based housing constructor.
Design & Production Inc Chargeurs Chargeurs SA of France acquired Design & Production Inc, a Lorton-based owner and operator of museum.
Western Digitech Inc CompassMSP CompassMSP, a unit of Bilgola Capital LLC, acquired Western Digitech Inc, a Miami-based provider of computer systems design services.
Histogen Inc Conatus Pharmaceuticals Inc Conatus Pharmaceuticals Inc (Conatus) definitively agreed to merge with Histogen Inc (Histogen), a San Diego-based manufacturer of biological products, in a stock swap reverse takeover transaction. Upon completion, Conatus and Histogen were to own 26% and 74% in the merged entity, respectively.
Hub Construction Specialties Construction Supply Group LLC Construction Supply Group LLC, a unit of The Sterling Group LP, acquired Hub Construction Specialties Inc, a San Bernardino-based construction and mining machinery and equipment merchant wholesaler.
Key Energy Services Inc Creditors Key Energy Services Inc (Key Energy), a Houston-based provider of support services for oil and gas operations, agreed a debt restructuring transaction with Creditors (CRs). CRs were to receive common shares, new warrants, cash and senior secured term loan in exchange for its outstanding debt. Upon completion, CRs were to hold 97% interest in the restructured Key Energy. The book value of the existing debt that was exchanged under the terms of the offer was $243.125 mil.
Playerspace.com Inc Daxko Inc Daxko Inc, a unit of GI Partners LLP, acquired Playerspace.com Inc, a Wrightsville Beach-based software publisher.
Digital Pi LLC Dentsu Aegis Network Ltd Dentsu Aegis Network Ltd of the UK, a unit of Dentsu Inc, acquired Digital Pi LLC, a Dallas-based provider of marketing consulting services.
Titan Security Services Inc Doyle Security Systems Doyle Security Systems acquired Titan Security Services Inc, a Chicago-based provider of security guard and patrol services.
Roaring Spring Water DS Services of America Inc DS Services of America Inc, a unit of Cott Corp, acquired the entire share capital of Roaring Spring Water, a Roaring Spring-based manufacturer of bottled water.
Bristow Group Inc Era Group Inc Era Group Inc (Era) agreed merge with Bristow Group Inc (Bristow), a Houston-based charter passenger airline, in a stock swap reverse takeover transaction. Upon completion Era and Bristow will own 23% and 77% in the merged entity, respectively.
American LubeFast LLC Grease Monkey International Grease Monkey International Inc, a unit of CenterOak Partners LLC, acquired American LubeFast LLC, a Lawrenceville-based oil change and preventative maintenance company.
Fansided LLC Minute Media Ltd Minute Media Ltd of the UK acquired Fansided LLC, a Chicago-based internet portal operator, from Time Inc, owned by Time Warner Inc.
Jm Huber Corp-Carboxymethyl Nouryon Holding BV Nouryon Holding BV of Netherlands, a unit of The Carlyle Group LP, agreed to acquire the carboxymethyl cellulose business of JM Huber Corp, an Edison-based chemical and allied products merchant wholesaler.
RLP Wealth Advisors LLC Perigon Wealth Management LLC Perigon Wealth Management LLC merged with RLP Wealth Advisors LLC, a New York City-based provider of administrative management and general management consulting services.
Quantitative Medicine Llc Predictive Oncology Inc Predictive Oncology Inc signed a Letter of Intent {LoI} to acquire Quantitative Medicine LLC, a Penn Hills-based provider of biotechnology research and development services.
Premier Specialty Infusion PromptCare Cos Inc PromptCare Cos Inc, a unit of Halifax Group LLC, acquired Premier Specialty Infusion LLC, an Augusta-based family-owned manufacturer of pharmaceutical preparation. Terms were not disclosed.
Vigneron Ins Co Inc Randall & Quilter Invest Hldg Randall & Quilter Investment Holdings Ltd of Bermuda acquired Vigneron Insurance Co Inc, a Williamstown-based insurance agency.
Aegis Fire Systems Inc Rapid Fire Protection Inc Rapid Fire Protection Inc, a unit of Boyne Capital Partners LLC, acquired Aegis Fire Systems Inc, a Pleasanton-based electrical contractor.
Fatbeam Llc SDC Capital Partners LLC SDC Capital Partners LLC acquired an undisclosed majority interest in Fatbeam LLC, a Coeur dAlene-based manufacturer of fiber optic cables, in a leveraged buyout transaction.
Fender Musical Instruments Servco Pacific Inc Servco Pacific Inc agreed to acquire an undisclosed majority interest in Fender Musical Instruments Corp, a Los Angeles-based manufacturer of musical instruments, from TPG Growth Fund, a unit of TPG Capital LP.
Tusker Medical Inc Smith & Nephew PLC Smith & Nephew PLC of the UK acquired Tusker Medical Inc, a Menlo Park-based manufacturer of navigational, measuring, electromedical and control Instruments. Terms were not disclosed.
Polsinello Fuels Inc-Gasoline Stewarts Shops Corp Stewart's Shops Corp acquired the gasoline & diesel distribution business of Polsinello Fuels Inc, a Rensselaer-based gasoline station operator. The transaction was to include 5 gasoline stations owned by Polsinello Fuels Inc. Terms of the transaction were not disclosed.
Safe-Guard Products Intl LLC Stone Point Capital LLC Stone Point Capital LLC (Stone Point) planned to acquire an undisclosed majority interest in Safe- Guard Products International LLC (Safe-Guard Products), an Atlanta-based direct insurance carrier, from GS Capital Partners LP, owned by Goldman Sachs & Co, 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 $1 billion. Previously, GS Capital Partners LP acquired Safe- Guard Products. Originally, Stone Point was rumored to be planning to acquire an undisclosed majority interest in Safe-Guard Products.
Capgemini-ASM TELEO Capital Management LLC TELEO Capital Management LLC acquired automated system management of Capgemini America Inc, a New York-based software publisher, ultimately owned by Capgemini SE, in a leveraged buyout transaction.
TK Classics Twin Star Home Twin Star Home acquired TK Classics, a West Sacramento-based furniture store operator.
Heelstone Renewable Engy-Solar US Solar Fund PLC US Solar Fund PLC of the UK planned to acquire 22 Operating Solar Projects of Heelstone Renewable Energy LLC, a Chapel Hill-based electric power generation facility operator.
Ontray Inc Zuul Kitchens Zuul Kitchens acquired Ontray Inc, a Philadelphia-based provider of custom computer programming services.