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. |