Weekly wrap: DraftKings, IAC, Thompson Street


US M&A Deals Announced December 20 to 26, 2019
Target Acquirer Value ($millions) Synopsis
Anixter International Inc Wesco International Inc 3287.7 Culligan International Co, a unit of Advent International LLC, definitively agreed to merge with AquaVenture Holdings Ltd (AquaVenture), a Tampa-based provider of water purification services, for $27.1 in cash per share, or a total value of $1.1 bil, including the assumption of $188.805 million in liabilities. Upon completion, AquaVenture was to delist in New York Stock Exchange.
Cincinnati Bell Inc Brookfield Infrastructure 2600.0 Brookfield Infrastructure Partners LP definitively agreed to merge with Cincinnati Bell Inc, a Cincinnati-based provider of telecommunication services, for $10.5 in cash per share, or a total $2.6 bil, including the assumption of $2.01 billion in liabilities.
DraftKings Inc Diamond Eagle Acquisition Corp 2055.2 Diamond Eagle Acquisition Corp (DEAC) definitively agreed to merge with DraftKings Inc (DK), a Boston-based provider of gambling services, for an estimated $2.055 bil, in a stock swap transaction. Concurrently, DEAC definitively agreed to merge with SBTech. Originally, in October 2019, DEAC was rumored to be planning merge with DK.
Aquaventure Hldg Ltd Culligan International Co 1100.0 Sigma Electric Manufacturing Corp, a unit of Goldman Sachs Group Inc, acquired Tooling Dynamics LLC, an York-based machine shop operator.
Clinical Innovations LLC Laborie Medical Technologies I 525.0 Laborie Medical Technologies Inc of Canada, a unit of Audax Group LP, definitively agreed to acquire Clinical Innovations LLC, a Murray-based manufacturer of medical instruments, from EQT Partners AB, ultimately owned by EQT AB, for $525 mil.
Care.Com Inc IAC/InterActiveCorp 496.9 IAC/InterActiveCorp definitively agreed to merge with Care.Com Inc, a Waltham-based internet portal operator, for $15 cash per share, or a total of $496. 926 mil.
Conifex Timber Inc-US Sawmill Resolute Forest Products Inc 170.0 Orient Science Healthcare Inc, an Alice-based provider of biotechnology research and development services, agreed to a debt restructuring with creditor. Upon completion, creditor was to acquire a 99. 994% interest in the restructuring Orient Science Healthcare Inc.
Skanska AB - 99M,Washington,DC Polinger Co 163.0 Polinger Co planned to acquire Skanska AB - 99M, a Washington DC-based lessor of nonresidential buildings, from Skanska AB, for a total $163 mil.
Accent Cost Containment Sol RedHawk Energy Corp 155.0 RedHawk Energy Corp acquired Accent Cost Containment Solutions, an Omaha-based provider of administrative management and general management consulting services for a total $155 mil.
Office Bldg,Washington,DC World Bank 129.5 The US state-owned International Bank forReconstruction & Development acquired Undisclosed Office Building, a Washington DC-based lessor of nonresidential buildings, from Washington Real Estate Investment Trust, for a total $129.5 mil.
Broadstone Gulch Apartments Investor Group 80.8 An investor group, comprised of Security Properties Inc and Pacific Life Insurance Co, a unit of Pacific Life Corp acquired Broadstone Gulch Apartments, a Nashville-based lessor of residential buildings and dwellings, for a total $80. 75 mil.
Kentucky Fried Chicken-(70) Restaurant Brands New Zealand 73.0 Restaurant Brands New Zealand Ltd of New Zealand, a unit of Finaccess Capital SA de CV, planned to acquire 70 stores of Kentucky Fried Chicken Corp, a Louisville-based full-service restaurant operator, ultimately owned by Yum! Brands Inc, for a total $73 mil.
Cheaha Financial Group Inc Investar Holding Corp 41.1 Investar Holding Corp definitively agreed to acquire Cheaha Financial Group Inc, an Oxford-based commercial bank, for a total $41.1 mil.
Country Pure Foods Inc BPCP CPF Holdings Inc 37.0 Wesco International Inc (Wesco) planned to launch a tender offer to acquire Anixter International Inc (Anixter), a Glenview-based wholesaler of cabling and network security products, for a sweetened $93.50 per share, or a total value of $3.288 bil, via an unsolicited offer. Originally, CD&R Arrow Parent LLC, a special acquisition vehicle formed by Clayton Dubilier & Rice LLC, owned by Clayton Dubilier & Rice Holdings LP, definitively agreed to merge with Anixter. Originally, Wesco offered $90 per share.
Southside Apartment-Park Place Hubbard Properties Inc 5.1 Hubbard Properties Inc acquired Park Place Apartments of Southside Apartment Co LLC, a Birmingham-based lessor of residential buildings and dwellings, for a total $5. 075 mil.
Ayro Inc DropCar Inc 1.9 DropCar Inc (DropCar) definitively agreed to merge with Ayro Inc (Ayro), a Round Rock-based manufacturer of automobiles, for a total $1.927 mil, in a stock swap reverse takeover transaction. Upon completion, Ayro and DropCar shareholders were to own 80% interest and 20% stake in the company, respectively in the merged entity and was to be renamed AYRO Inc.
Badger Building Supply Inc ABC Supply Co Inc Paleo Resources Inc of Canada definitively agreed to merge with EF Resources Inc, a Houston-based investment advisor.
ePath Learning Inc Absorb Software Inc Absorb Software Inc of Canada acquired ePath Learning Inc, a New London-based software publisher.
Corteva Inc - Herbicide American Vanguard Corp Park Hotels & Resorts Inc divested Park Hotels & Resorts Inc-Le Meridien New Orleans, a New Orleans-based lessor of residential buildings and dwellings, to an undisclosed acquiror, for a total $84 mil.
First Service Insurance Agents AssuredPartners Inc American Vanguard Corp acquired 4 herbicide brands of Corteva Inc, a Wilmington-based provider of landscaping services. Terms of the transaction were not disclosed.
Vista on Courthouse,VA Bell Partners Inc Bell Partners Inc acquired Vista on Courthouse, an Arlington-based lessor of residential buildings and dwellings.
Ellison Surface Technologies Bodycote PLC Thompson Street Capital Partners LP acquired Custom Wheel House LLC, a Santa Fe Springs-based automotive parts and accessories retailer, in a leveraged buyout transaction.
Trusted Health Plans Inc CareFirst CareFirst BlueCross BlueShield LLC (CareFirst) planned to acquire Trusted Health Plans Inc, a Washington-based direct health and medical insurance carrier. Concurrently, CareFirst planned to acquire University of Maryland Health Partners. Terms of the deal were not disclosed.
University Of Maryland Health CareFirst CareFirst BlueCross BlueShield LLC (CareFirst) definitively agreed to acquire University Of Maryland Health Partners Inc, a Timonium-based hospital operator, from University Of Maryland Medical System Health Inc. Concurrently, CareFirst planned to acquire Trusted Health Plan Inc. Terms of the deal were not disclosed.
One Capital Management LLC CI Financial Corp AssuredPartners Inc, a unit of Apax Partners LP, acquired First Service Insurance Agents & Brokers Inc, a Roseville-based insurance agency.
LAB Miami Ventures Connectiv Connectiv acquired LAB Miami Ventures, a Miami-based financial sponsor.
Orient Science & Healthcare Creditors Douglas Elliman Realty LLC, a unit of New Valley Corp, acquired John Daugherty Realtors Inc, a Houston-based real estate agency.
John Daugherty Realtors Inc Douglas Elliman Realty LLC BPCP CPF Holdings Inc, a unit of Blue Point Capital Partners LP, planned to acquire the entire share capital of Country Pure Foods Inc, a Wilmington-based producer and wholesaler of juices, from Silver Springs Citrus Inc, jointly owned by Toyota Tsusho America Inc and Sapporo Holdings Ltd, for an estimated $37 mil, in a leveraged buyout transaction.
JC Foodservice Inc Employee Stock Ownership Plan JC Foodservice Inc ESOP acquired JC Foodservice Inc, a Monterey-based industrial machinery and equipment merchant wholesaler.
Vision Property Management-RPA FTE Networks Inc FTE Networks Inc acquired real property asset of Vision Property Management LLC, a Columbia-based provider of real estate services.
Varitron Hudson Intervala LLC Intervala LLC acquired Varitron Hudson, a Hudson-based manufacturer of relays and industrial controls.
Verb Surgical Inc J&J Johnson & Johnson (J&J) definitively agreed to acquire the remaining 66.66% interest, which it did not already own in Verb Surgical Inc, a Mountain View-based manufacturer of navigational, measuring, electromedical and control Instruments, from Verily Life Sciences LLC, and Ethicon Inc, ultimately owned by Alphabet Inc, in a privately negotiated transaction. Terms were not disclosed.
Liris Biomedical Inc J&J Johnson & Johnson acquired Liris Biomedical Inc, a Lexington-based manufacturer of pharmaceutical preparation.
Trilogy Automotive Inc JD Power & Associates Inc JD Power & Associates Inc, a unit of XIO (UK) LLP, acquired Trilogy Automotive Inc, an Austin-based new car dealer, from Trilogy Enterprises Inc, ultimately owned by Trilogy Software Inc.
Lv8 Group Inc Lillian James Creative LLC Lillian James Creative LLC acquired LV8 Group Inc, a Kansas City-based advertising agency.
EVgo Services LLC LS Power Development LLC LS Power Development LLC definitively agreed to acquire EVgo Services LLC, a Los Angeles-based manufacturer of motor vehicle electrical equipment, from Vision Ridge Partners LLC. Terms were not disclosed.
First Coast Wildlife Svcs Llc Mccall Svc Inc Mccall Service Inc planned to acquire First Coast Wildlife Services LLC, a Jacksonville-based provider of exterminating and pest control services.
Ef Resources Inc Paleo Resources Inc Select Bank & Trust Co, Greenville,North Carolina, a unit of Select Bancorp Inc, agreed to acquire 3 branches of Entegra Bankfranklinnorth Carolina, a Franklin-based savings institution, ultimately owned by Entegra Financial Corp.
Conway MacKenzie Inc Riveron Consulting LLC Riveron Consulting LLC acquired Conway MacKenzie Inc, a Birmingham-based management consulting and financial advisory firm. Terms of the transaction were not disclosed.
Summerill Tube Corp Sandvik AB Sandvik AB of Sweden definitively agreed to acquire Summerill Tube Corp, a Scottdale-based manufacturer of steel pipes and tubes.
SDI Tech Inc Employee Stock SDI Technologies Inc SDI Technologies Inc acquired SDI Technologies Inc Employee Stock Ownership Plan, pension fund.
Kilpatrick Life Insurance Co Security National Financial Co American Builders & Contractors Supply Co Inc acquired Badger Building Supply Inc, a Milwaukee-based building material dealer. Terms were not disclosed.
Entegra Bkf,ranklin-branches Select Bank & Trust Co,Greenvi CI Financial Corp of Canada planned to acquire an undisclosed majority interest in One Capital Management LLC, a Westlake Village-based investment advisor. Terms of the deal were not disclosed.
Tooling Dynamics LLC Sigma Electric Mnfg Corp Security National Financial Corp acquired Kilpatrick Life Insurance Co, a Shreveport-based direct life insurance carrier.
716 Unit Self Storage,AZ Strategic Storage Trust IV Inc Strategic Storage Trust IV Inc, a unit of SmartStop Asset Management LLC, acquired an undisclosed 716 Unit Self Storage Facility, a Surprise-based lessor of miniwarehouses and self- storage units.
Cobb Refrigeration LLC Temp-Con Inc Temp-Con Inc acquired the entire share capital of Cobb Refrigeration LLC, a Lenexa-based manufacturer of air-conditioning equipment.
Comprehensive Autism Center The Speech Pathology Grp Inc The Speech Pathology Group Inc, a unit of Rep Behavioral Health LLC, acquired Comprehensive Autism Center, a Temecula-based residential mental retardation facility operator. Terms were not disclosed.
Custom Wheel House LLC Thompson Street Capital Part Resolute Forest Products Inc of Canada agreed to acquire the US sawmill business of Conifex Timber Inc, a Vancouver-based sawmill operator, for an estimated $170 mil.
Bercen Inc Vertellus Holdings LLC Vertellus Holdings LLC acquired Bercen Inc, a Denham Springs-based specialty chemical company, from Cranston Print Works Co Inc.
Bodycote PLC of the UK agreed to acquire Ellison Surface Technologies Inc, a Mason-based provider of metal coating and surfacing services.