TargetAcquirerValue ($millions)Synopsis
Innovel Solutions IncCostco Wholesale Corp1,000.0Costco Wholesale Corp acquired Innovel Solutions Inc, a Hoffman Estates-based provider of freight transportation arrangement services, from Transform Holdco LLC, ultimately owned by ESL Investments Inc, for $1 billion in cash.
Tubi IncFox Corp440.0Fox Corp (Fox) definitively agreed to acquire Tubi Inc (Tubi), a San Francisco-based provider of data processing and hosting services, for $440 million in cash. Originally, Fox was rumored to be planning to acquire Tubi.
CVC Thermoset Specialties IncHuntsman Corp300.0Huntsman Corp definitively agreed to acquire CVC Thermoset Specialties Inc, a Vancouver-based manufacturer of chemical products, from Emerald Performance Materials LLC, ultimately owned by American Securities LLC, for a total $300 mil.
75-101 Federal St,Boston,MACarr Ppty Inc242.5Carr Properties Inc, a unit of Alony Hetz Properties & Investments Ltd, acquired a 50% ownership interest in 75- 101 Federal Street, a Boston-based lessors of nonresidential Buildings from Rockpoint Group, for a total $242.5 mil.
Ranger Energy Services IncInvestor Group78.6An investor group, comprised of Bayou Well Holdings Co LLC, T Rowe Price Group Inc and CSL Capital Management LP was granted an option to acquire the remaining 84.5% stake, which it did not already own, in Ranger Energy Services Inc, a Houston-based site preparation contractor, for a $6 cash per share or total value of $78.58 mil.
Cherry Creek Plaza,Glendale,COTerraCap Management LLC54.1TerraCap Management LLC acquired Cherry Creek Plaza, a Glendale-based lessor of nonresidential buildings, for a total $54.05 mil.
Sourcehov Tax LlcGainline Capital Partners LP40.0Gainline Capital Partners LP acquired the entire share capital of Sourcehov Tax LLC, a Fort Worth-based provider of accounting services, from Exela Technologies Inc, for a total $40.022 mil, in a leveraged buyout transaction.
Brandemere Apartments,WinstonStrata Equity Group Inc32.0Strata Equity Group Inc acquired Brandemere Apartments, a Winston-Salem-based lessor of residential buildings and dwellings, for a total $32 mil.
Arlington Park Apts,ALSaxony Capital Mgmt28.0Saxony Capital Management acquired Arlington Park Apartments, a Mobile-based lessor of residential buildings and dwellings, from PEM Real Estate Group LLC, for a total $27.95 mil.
Strand-Tech Manufacturing IncInsteel Wire Products Co22.5Insteel Wire Products Co, a unit of Insteel Industries Inc, acquired Strand-Tech Manufacturing Inc, a Summerville-based housing constructor, for a total $22.5 mil.
Zyla Life Sciences IncAssertio Therapeutics Inc18.7Assertio Therapeutics Inc (Assertio) definitively agreed to acquire the remaining stake, which it did not already own, in Zyla Life Sciences Inc (Zyla), a Wayne-based manufacturer of pharmaceutical preparation, for a $2 per share or a total $18.722 mil, in a stock swap transaction. Assertio offered 2.5 common share per Zyla common per share. The shares were valued based on Assertio’s closing stock price of $0.80 on 13 March 2020, the last full trading day prior to the announcement.
Tetraphase Pharmaceuticals IncAcelRx Pharmaceuticals Inc17.2AcelRx Pharmaceuticals Inc (AcelRx) definitively agreed to merge with Tetraphase Pharmaceuticals Inc (Tetraphase), a Watertown-based manufacturer of pharmaceutical preparation, for an estimated $17.248 mil, in a stock swap transaction. AcelRx offered 0. 6303 common shares per Tetraphase share. Based on AcelRx’s closing stock price of $1.03 on 13 March 2020, the last full trading day prior to the announcement, each Tetraphase share was valued at $0.649. Upon completion, AcelRx and Tetraphase shareholders were to own 85.4% stake and 14.6% interest in the merged entity, respectively.
Jolokia CorpNexTech AR Solutions Corp5.2NexTech AR Solutions Corp (NexTech) of Canada signed a Letter of Intent {LoI} to acquire the entire share capital of Jolokia Corp, a Santa Cruz-based provider of data processing and hosting services, for an estimated $5.15 million. The consideration was to consist of up to $4 million in profit- related payments, and the issuance of restricted common shares valued at $1.15 million. The shares were valued based on NexTech’s closing stock price of $1.15 on 15 March 2020, the last full trading day prior to the announcement.
Imperium3 New York IncMagnis Energy Technologies Ltd0.4Magnis Energy Technologies Ltd of Australia agreed to acquire an undisclosed majority interest in Imperium3 New York Inc, a Binghamton-based provider of research and development services, from Boston Opportunities No 1 Pty Ltd, ultimately owned by Boston Energy And Innovation Pty Ltd, for a total $0.35 mil.
Technology Services Group IncAlfresco Software IncAlfresco Software Inc planned to acquire Technology Services Group Inc, a Chicago-based provider of custom computer programming services.
Shredded SupplementsAmerican Intl Hldg CorpAmerican International Holdings Corp entered into a Letter of Intent {LoI} to acquire Shredded Supplements, a Plano-based retailer of food supplement products.
AK Steel Holding CorpBondholdersAK Steel Holding Corp, a West Chester-based steel mill operator, completed a debt restructuring transaction with Bondholders (BHs). On completion, BHs were to receive $1,000 principal amount of every 6.375% Senior Notes due 2025 and 7.00% Senior Notes due 2027. The book value of the existing debt that will be exchanged under the terms of the offer is $567.2 mil.
4 Seasons Landscape Group LLCBrightview Holdings IncBrightview Holdings Inc acquired 4 Seasons Landscape Group LLC, a Norcross-based provider of landscaping services. Terms were not disclosed.
Pietroske DealershipBroadway Auto Green Bay IncBroadway Automotive Green Bay Inc acquired Pietroske Dealership, a Manitowoc-based new car dealer.
Paris Transport IncBulkmatic Transport CoBulkmatic Transport Co acquired Paris Transport Inc, a Paris-based provider of long-distance freight trucking services.
Buckthorn WindCapital Power CorpCapital Power Corp of Canada agreed to acquire Buckthorn Wind, a Dallas-based manufacturer of turbines and turbine generator set units.
Star Cinema Grill-TheatreCmx CinemasCMX Cinemas, a unit of Cadena Mexicana de Exhibicion SA de CV, planned to acquire 10 theatre locations of Star Cinema Grill, a Missouri-based motion picture theater operator.
Internap CorpCreditorsthe bankrupt Internap Corp(Internap), a Secaucus-based provider of computer facilities management services, agreed a debt restructuring transaction with Creditors (CRs). CRs were to receive common shares and loan in exchange for outstanding debt. Upon completion, CRs were to hold an undisclosed interest in the restructured Internap. The book value of the existing debt that was exchanged under the terms of the offer
Harvey Inds Inc-Distn BusLansing Building Products IncLansing Building Products Inc definitively agreed to acquire the distribution business of Harvey Industries Inc, a Waltham-based roofing, siding and insulation material merchant wholesaler, ultimately owned by Dunes Point Capital LLC. Concurrently, Markel Corp agreed to acquire Lansing Building Products.
Dien IncLeBaronBrown Specialties LLCLeBaronBrown Specialties LLC, a unit of LeBaronBrown Industries LLC, acquired an undisclosed majority interest in Dien Inc, a Dallas-based wholesaler of specialty chemicals and ingredients. Terms of the transaction were not disclosed.
BoatyardMarinemax IncMarinemax Inc acquired Boatyard, manufacturer of measuring, displaying and controlling variables instruments and related products. Terms of the transaction were not disclosed.
R2 TechnologiesMariners Choice InternationalMariners Choice International Inc acquired the entire share capital of R2 Technologies, a Miami-based provider of computer facilities management services, from CSP Inc.
Lansing Building Products IncMarkel CorpMarkel Corp definitively agreed to acquire an undisclosed majority interest in Lansing Building Products Inc, a Richmond-based construction material merchant wholesaler. Concurrently, Lansing Building Products agreed to acquire the distribution business of Harvey Building Products.
Meyler LLCMJ Hudson Group PLCMJ Hudson Group PLC of Jersey acquired Meyler LLC, a New York-based provider of marketing research and opinion polling services.
Western Equity Group IncModern Capital IncModern Capital Inc definitively agreed to acquire Western Equity Group Inc (Western Equity Group), a Pleasant View-based securities brokerage and advisory firm. Upon completion, Western Equity Group was to be renamed Modern Capital Securities Co.
Mac Papers IncMonomoy Capital Partners LLCMonomoy Capital Partners LLC acquired Mac Papers Inc, a Jacksonville-based paper merchant wholesaler, in a leveraged buyout transaction. Terms of the transaction were not disclosed. The transaction included Mac Paper Converters Inc and All Square Digital Solutions Inc.
Element Food Solutions LLCMount Franklin Foods LLCMount Franklin Foods LLC, a unit of Santa Cruz Holdings LLC, acquired ARRO Corp, a Hodgkins-based manufacturer of foods.
Crash Champions LLCPac Elite Collision CtrsPacific Elite Collision Centers merged with Crash Champions LLC, a Chicago-based provider of automotive surfaces repair and maintenance services. Terms of the transaction were not disclosed.
Maple City Woodworking CorpPatrick Industries IncPatrick Industries Inc acquired Maple City Woodworking Corp, a Goshen-based millwork merchant wholesaler.
Truelove & Maclean IncSFS Group AGSFS Group AG of Switzerland acquired Truelove & Maclean Inc, a Watertown-based provider of metal coating and surfacing services. Terms of the deal were not disclosed.
Morgan Group Holding CoShareholdersAssociated Capital Group Inc agreed to spin off undisclosed minority stake in its Morgan Group Holding Co, a Rye-based provider of moving services, to its shareholders.
FatherlySome Spider IncSome Spider Inc acquired the entire share capital of Fatherly, internet portal operator, for an undisclosed amount of shares.
Nagel Auto BodyThe Boyd Group IncThe Boyd Group Inc of Canada, a unit of Boyd Group Income Fund, acquired Nagel Auto Body, a Waukesha-based provider of automotive repair services.
Werk Enterprises IncThe Mom Project IncThe Mom Project Inc acquired Werk Enterprises Inc, a New York City-based software publisher.
Quest Design & Fabrication LLCUniversal Forest Products IncUniversal Forest Products Inc acquired Quest Design & Fabrication LLC, a Stafford-based provider of architectural services. The transaction included Quest Architectural Millwork.
House of Stainless IncWieland N America IncWieland North America Inc, a unit of Wieland-Werke AG, definitively agreed to acquire House of Stainless Inc, a Cranston-based processor of copper.
US M&A Deals Announced March 13 to 19, 2020