TargetAcquirerValue ($millions)Synopsis
CenterState Bank CorpSouth State Corp3,220.0South 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 CorpTRATON SE2,954.1TRATON 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 LLCStanley Black & Decker Inc1,500.0Stanley 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 IncU Infrastructure Fund Co674.4Undisclosed 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 LLCCNX Midstream Partners LP577.8CNX 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 IncAMN Healthcare Inc475.0AMN 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 ServicesCH Robinson Worldwide Inc225.0CH 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 LLCK12 Inc165.0K12 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 IncMizuho Lease Co Ltd145.0Mizuho 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-OperationsLee Enterprises Inc140.0Lee 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 LLCHalma PLC137.0Halma 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 ApartmentsHarbor Group International LLC65.5Harbor 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 HotelsJrk Property Holdings Inc65.0Jrk Property Holdings Inc acquired RLJ Lodging Trust-Marriott Hotels(5), an Austin-based hotel operator, for a total $65 mil.
Crossroads Towne CtrConsolidated-Tomoka Land Co61.8Consolidated-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 LLCTempur Sealy International Inc40.0Tempur 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 IncDWF Group PLC18.5DWF 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,FLSun Residential Reit11.0Sun 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 CorpEOS Defense Systems USA Inc6.9EOS 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-RestFour Corners Property Trust1.5Four 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 IncAmerican Intermodal ManagementAmerican 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-MadisonAmerican Pacific Mining CorpAmerican 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-FedASGN IncASGN Inc acquired federal division of Blackstone Technology Group Inc, a San Francisco-based provider of computer facilities management services.
Emerson Court,Frisco,TexasBell Partners IncBell Partners Inc acquired Emerson Court, a Frisco-based housing constructor.
Design & Production IncChargeursChargeurs SA of France acquired Design & Production Inc, a Lorton-based owner and operator of museum.
Western Digitech IncCompassMSPCompassMSP, a unit of Bilgola Capital LLC, acquired Western Digitech Inc, a Miami-based provider of computer systems design services.
Histogen IncConatus Pharmaceuticals IncConatus 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 SpecialtiesConstruction Supply Group LLCConstruction 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 IncCreditorsKey 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. IncDaxko IncDaxko Inc, a unit of GI Partners LLP, acquired Inc, a Wrightsville Beach-based software publisher.
Digital Pi LLCDentsu Aegis Network LtdDentsu 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 IncDoyle Security SystemsDoyle Security Systems acquired Titan Security Services Inc, a Chicago-based provider of security guard and patrol services.
Roaring Spring WaterDS Services of America IncDS 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 IncEra Group IncEra 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 LLCGrease Monkey InternationalGrease Monkey International Inc, a unit of CenterOak Partners LLC, acquired American LubeFast LLC, a Lawrenceville-based oil change and preventative maintenance company.
Fansided LLCMinute Media LtdMinute 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-CarboxymethylNouryon Holding BVNouryon 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 LLCPerigon Wealth Management LLCPerigon 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 LlcPredictive Oncology IncPredictive 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 InfusionPromptCare Cos IncPromptCare 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 IncRandall & Quilter Invest HldgRandall & Quilter Investment Holdings Ltd of Bermuda acquired Vigneron Insurance Co Inc, a Williamstown-based insurance agency.
Aegis Fire Systems IncRapid Fire Protection IncRapid Fire Protection Inc, a unit of Boyne Capital Partners LLC, acquired Aegis Fire Systems Inc, a Pleasanton-based electrical contractor.
Fatbeam LlcSDC Capital Partners LLCSDC 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 InstrumentsServco Pacific IncServco 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 IncSmith & Nephew PLCSmith & 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-GasolineStewarts Shops CorpStewart’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 LLCStone Point Capital LLCStone 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-ASMTELEO Capital Management LLCTELEO 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 ClassicsTwin Star HomeTwin Star Home acquired TK Classics, a West Sacramento-based furniture store operator.
Heelstone Renewable Engy-SolarUS Solar Fund PLCUS 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 IncZuul KitchensZuul Kitchens acquired Ontray Inc, a Philadelphia-based provider of custom computer programming services.