U.S. M&A Deals Announced November 01 to 07, 2019
TargetAcquirerValue ($millions)Synopsis
Automated Medical Systems IncDoctors AdministrativeDoctors Administrative Solutions LLC acquired Automated Medical Systems Inc, a Valdosta-based insurance agency.
SmashFly TechnologiesSymphony Talent LLCSymphony Talent LLC acquired SmashFly Technologies, a Concord-based software publisher. Terms were not disclosed.
Crenlo Cab Partners LLCAngeles Equity Partners LLCAngeles Equity Partners LLC (AEP) acquired Crenlo Cab Partners LLC, a Rochester-based manufacturer of operator cabs, locomotive sub- assemblies, electronic enclosures and other complex fabrications, from KPS Capital Partners LP (KPS), in a leveraged buyout transaction. The transaction was to include Emcor Enclosures LLC. Concurrently, AEP acquired an undisclosed majority interest in Worthington Industries Engineered Cabs Inc from Worthington Industries Inc and acquired IES do Brasil Solucoes em Equipamentos Ltda from KPS.
Fitbit IncGoogle LLC2113.4Google LLC, a unit of Alphabet Inc (Alphabet), definitively agreed to merge with Fitbit Inc (Fitbit), a San Francisco-based manufacturer of fitness activity products, for $7. 35 in cash per share, or a total value of $2.113 billion. Originally, in September 2019, Fitbit was rumored to be seeking a buyer for its entire share capital. Alphabet was named as rumored potential bidder.
HealthSCOPE Benefits IncUnitedHealth Group IncUnitedHealth Group Inc acquired HealthSCOPE Benefits Inc, a Little Rock-based provider of claims administration, health management services and consumer health plan
Capitaland Ltd-Bus PkAscendas Reit937.6Ascendas Real Estate Investment Trust (ART) of Singapore planned to acquire 28 business park properties of CapitaLand Ltd, a Singapore-based provider of land subdivision services, for $937.6 million. Concurrently, ART planned to acquire Nucleos and FM Global Centre.
Shay Hldg CorpGores Holdings III Inc1307.5Gores Holdings III Inc (Gores) definitively agreed to merge with Shay Holding Corp, a Falls Church-based provider of business support services, for an estimated total value of $1.308 billion. The consideration was to consist of an estimated $444 million in cash, $251 million in new Gores Class A common shares, the assumption of $572.1 million in liabilities and up to $40.4 million in profit-related payments.
Neuro-Pro Monitoring LLCAssure Holdings Corp13.0Assure Holdings Corp agreed to acquire Neuro-Pro Monitoring LLC, a Dallas-based physician’s office operator, for a total $13 mil.
Colson Medical CoMarmon Holdings IncMarmon Holdings Inc, a unit of Berkshire Hathaway Inc, acquired a 60% interest in Colson Medical Co, a Jonesboro-based medical equipment and supplies merchant wholesaler, from Colson Associates Inc. The financial terms of the transaction were not disclosed.
Chocolate Factory Lofts,NYInvestor Group67.3An investor group, comprised of Meadow Partners Ltd and Fairstead Partners acquired Chocolate Factory Lofts, a Brooklyn-based lessor of residential buildings and dwellings, for a total $67.25 mil.
masterIT LLCVC3 IncVC3 Inc acquired masterIT LLC, a Memphis-based provider of computer systems design services.
Worthington Ind Eng Cabs IncAngeles Equity Partners LLCAngeles Equity Partners LLC (AEP) acquired an undisclosed majority interest in Worthington Industries Engineered Cabs Inc, manufacturer of cab enclosures and canopies, from Worthington Industries Inc, in a leveraged buyout transaction. Concurrently, AEP acquired Crenlo Cab Partners LLC, Emcor Enclosures LLC and IES do Brasil Solucoes em Equipamentos Ltda from KPS Capital Partners LP.
Florida Pest Control & ChemRentokil Initial PLCRentokil Initial PLC of the UK planned to acquire the entire share capital of Florida Pest Control & Chemical Co, a Gainesville-based provider of exterminating and pest control services.
Yellowstone Landscape Grp IncHarvest Partners LPHarvest Partners LP acquired Yellowstone Landscape Group Inc (Yellowstone Landscape), a St. Bunnell-based provider of landscape architectural services, from CIVC Partners LP (CIVC Partners), ultimately owned by Bank of America Corp, in a secondary buyout transaction. Originally, Yellow Landscape was acquired by CIVC Partners, in a leveraged buyout transaction.
DMS Governance LtdMML Capital Partners LLPMML Capital Partners LLP of the UK acquired a 50% interest in DMS Governance Ltd, a New York City-based investment advisor, in a leveraged buyout transaction.
ObserveIT IncProofpoint Inc225.0Proofpoint Inc definitively agreed to acquire the entire share capital of ObserveIT Inc, a Boston-based software publisher, for an estimated $225 million in cash.
SevOne IncTurbonomic IncTurbonomic Inc acquired SevOne Inc, a Boston-based software publisher.
Onica Group LLCRackspace US IncRackspace US Inc, a unit of Rackspace Hosting Inc, agreed to acquire Onica Group LLC, a Santa Monica-based provider of data processing and hosting services. Terms were not disclosed.
Corporate Stock Transfer IncEquiniti Group PLCEquiniti Group PLC of UK, a unit of Advent International Corp, acquired Corporate Stock Transfer Inc, a Denver-based investment bank.
Hunt Real Estate Capital LLCORIX Real Estate Capital LLCORIX Real Estate Capital LLC, a unit of ORIX Corp USA, definitively agreed to acquire Hunt Real Estate Capital LLC, a New York City-based provider of real estate credit services, from Hunt Cos Inc.
G3 Communications IncEmerald Expositions Events IncEmerald Expositions Events Inc acquired G3 Communications Inc, a Hasbrouck Heights-based wired telecommunications carrier.
IBERIABANK CorpFirst Horizon National Corp13561.1First Horizon National Corp (First Horizon) definitively agreed to merge with IBERIABANK Corp (IBERIABANK), a Lafayette-based bank holding company, in a stock swap transaction valued at $13.561 bil, via merger of equals. First Horizon offered 4.584 First Horizon common shares per IBERIABANK share. Based on First Horizon’s closing stock price of $16.31 on 1 November 2019, the last full trading day prior to the announcement, each IBERIABANK share was valued at $74. 765. Upon completion, First Horizon and IBERIABANK shareholders were to own 56% interest and 44% stake in the merged entity, respectively.
Pattern Energy Group IncPacific US Inc6100.0Pacific US Inc, a unit of the Canadian state-owned Canada Pension Plan Investment Board, definitively agreed to merge with Pattern Energy Group Inc (Pattern Energy Group), a San Francisco-based renewable energy company, for an estimated $26.75 in cash, or a total value of $6.1 bil, including the assumption of $3.465 billion in liabilities. Upon completion, Pattern Energy Group was expected to be delisted in NASDAQ.
Grand Mtn Bancshares IncBayCom Corp13.9BayCom Corp agreed to acquire the entire share capital of Grand Mountain Bancshares Inc, a Granby-based commercial bank, for $3.40 in cash per share or a total value of 13.886 mil.
TriMas Co LLC-Lamons BusinessFirst Reserve Corp135.0First Reserve Corp definitively agreed to acquire Lamons business of TriMas Co LLC, a Bloomfield Hills-based manufacturer and wholesaler of industrial sealing, fastener and specialty products, ultimately owned by TriMas Corp, for an estimated $135 million in cash, in a leveraged buyout transaction.
Verve Beverage CoSponsorsOne IncSponsorsOne Inc of Canada acquired the entire share capital of Verve Beverage Co, manufacturer of flavoring syrups and concentrates, in a stock swap transaction.
Buffalo Wild Wings ResttxFour Corners Property Trust2.6Four Corners Property Trust Inc planned to acquire Buffalo Wild Wings Restaurant, limited-service restaurant operator, for a total $2.6 mil.
G&W Labs Inc-Dosage MnfgCosette Pharms IncCosette Pharmaceuticals Inc acquired the dosage manufacturing plant of G&W Laboratories Inc, a South Plainfield-based manufacturer of pharmaceutical preparation.
Pointr Data IncMateon Therapeutics IncMateon Therapeutics Inc acquired Pointr Data Inc, a San Jose-based software publisher.
Hollywood Beauty Imports IncMaven Hill Capital LlcMaven Hill Capital LLC acquired Hollywood Beauty Imports Inc, a Miami-based manufacturer of toilet preparations, in a leveraged buyout transaction.
Idaho Country Mining Co LLCVirtual Medical InternationalVirtual Medical International Inc acquired Idaho Country Mining Co LLC, provider of custom computer programming services. Concurrently, Virtual Medical International Inc acquired Shenzhen DZD Digital Technology Ltd.
Shenzhen DZD Digital TechnologVirtual Medical InternationalVirtual Medical International Inc acquired Shenzhen DZD Digital Technology Ltd, provider of custom computer programming services. Concurrently, Virtual Medical International Inc acquired Idaho Country Mining Co LLC.
Decipher Software SolutionsCombat Drugs LtdCombat Drugs Ltd of India planned to acquire the entire share capital of Decipher Software Solutions LLC, a Clearwater-based reproducer of software.
Zona Energy IncPrincipal Solar IncPrincipal Solar Inc planned to acquire the entire share capital of Zona Energy Inc, a Dallas-based producer of crude petroleum and natural gas.
MUZEScion Student Communities LPScion Student Communities LP, jointly owned by the Canadian state-owned Canada Pension Plan Investment Board, the Singaporean state-owned GIC Pte Ltd and The Scion Group LLC, acquired MUZE, an Austin-based lessor of residential buildings and dwellings.
OneQor PharmaceuticalTerra Tech CorpTerra Tech Corp planned to merge with OneQor Pharmaceutical, a Phoenix-based manufacturer of pharmaceutical preparation.
LBP Manufacturing LLCSabert CorpSabert Corp definitively agreed to acquire LBP Manufacturing LLC, a Cicero-based paperboard mill operator, from PPC Investment Partners LP, ultimately owned by Pritzker Group.
Scout RFP IncWorkday Inc540.0Workday Inc definitively agreed to acquire Scout RFP Inc, a San Francisco-based software publisher, for a total $540 mil.
Ease Technologies IncThrive Operations LLCThrive Operations LLC acquired Ease Technologies Inc, a Columbia-based provider of computer systems design services.
Nexstar Media-TV Stations(3)Fox Television Stations LLC350.0Fox Television Stations LLC, a unit of Fox Corp, agreed to acquire 3 television stations of Nexstar Media Group Inc (Nexstar), an Irving-based television broadcaster, for an estimated $350 million in cash. Originally, In July 2019, Nexstar announced that it was seeking a buyer for its television stations. The transaction was a condition to the completion of the acquisition of Tribune Media Co by Nexstar.
Rebecca TaylorVince Holding CorpVince Holding Corp, a unit of Sun Capital Partners Inc, acquired Rebecca Taylor, a New York-based manufacturer of apparels, from Kellwood Co LLC, ultimately owned by Sun Capital Partners Inc.
Bal Seal Engineering IncKaman Corp330.0Kaman Corp definitively agreed to acquire Bal Seal Engineering Inc, a Foothill Ranch-based industrial machinery and equipment merchant wholesaler, for a total $330 mil.
Lamvin IncSound Seal IncSound Seal Inc, a unit of The Stephens Group LLC, acquired Lamvin Inc, an Oceanside-based drywall and insulation contractor.
The Perduco Group IncLinQuest CorpLinQuest Corp acquired The Perduco Group Inc, a Beavercreek-based data analytics firm.
Redland Brick IncGlen-Gery CorpGlen-Gery Corp, a unit of Brickworks Ltd, planned to acquire Redland Brick Inc, a Williamsport-based manufacturer of bricks and structural clay tiles, from Belden Holding & Acquisition Co Inc.
Coking.Com IncCRU International LtdCRU International Ltd of the UK acquired Coking.Com Inc, a Bellingham-based provider of technical consulting services.
LifePoint-Acute care hospitalsMedical Properties Trust Inc700.0Medical Properties Trust Inc definitively agreed to acquire 10 acute care hospitals of LifePoint Health Inc, a Brentwood-based hospital operator, owned by Apollo Global Management LLC, for an estimated $700 mil, in a sale and leaseback transaction.
Fox Tv Stn LLC-Tv Stn,NC(2)Nexstar Media Group Inc45.0Nexstar Media Group Inc agreed to acquire 2 television stations of Fox Television Stations LLC, a New York City-based television broadcaster, ultimately owned by Fox Corp, for $45 million in cash.
Roadrunner Intermodal SvcsUniversal Logistics Hldg Inc51.3Universal Logistics Holdings Inc planned to acquire Roadrunner Intermodal Services LLC, a Peachtree City-based provider of specialized freight trucking services, from Roadrunner Transportation Systems Inc, ultimately owned by Thayer Hidden Creek, for a total $51.25 mil.
Concord Hospity Inc-HotelARA Trust Management (USH)84.5ARA Trust Management (USH) Pte Ltd of Singapore planned to acquire 3 hotel portfolio of Concord Hospitality Inc, a Lincoln-based full-service restaurant operator, for a total $84. 5 mil.
Soliant HealthOlympus Partners LP612.0Olympus Partners LP definitively agreed to acquire Soliant Health, an Atlanta-based provider of temporary help services, from MPS Group Inc, ultimately owned by Adecco Group AG, for a total $612 mil, in a leveraged buyout transaction.
BrandFX Body CoTime Manufacturing Co IncTime Manufacturing Co Inc, a unit of The Sterling Group LP, acquired BrandFX Body Co, a Fort Worth-based manufacturer of motor vehicle bodies.
DCP Midstream LLCDCP Midstream LP1569.1DCP Midstream LP (DCP) acquired the entire share capital of DCP Midstream LLC (DCP Midstream), a Denver-based provider of oil and natural gas gathering, processing, storage and marketing services, jointly owned by Phillips 66 Co and Spectra Energy Corp, in exchange for 65 million new DCP common shares valued at $1. 569 bil, in a stock swap transaction. The shares were valued based on DCP’s closing stock price of $24.14 on 5 November 2019, the last full trading prior the announcement.
HP IncXerox CorpXerox Corp planned to acquire the the entire share capital of HP Inc,, a Palo Alto-based manufacturer of electronic computers, via an unsolicited offer. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $33 bil.
William Lyon HomesTaylor Morrison Home Corp2400.0Taylor Morrison Home Corp (Taylor) definitively agreed to merge with William Lyon Homes (William), a Newport Beach-based construction company, for a total $2.4 bil, including the assumption of $1.585 billion in liabilities, in a stock swap transaction. Taylor offered $2.5 in cash and 0.8 Taylor common share per William share, subject to proration whereby consideration will be 90% in common shares and 10% in cash. Based on Taylor’s closing stock price of $23.69 on 5 November 2019, the last full trading day prior to the announcement, each share was valued at $21.452. Upon completion, Taylor and William were to own 77% interest and 23% stake in the merged entity, respectively.
Nielsen-Global ConnectShareholdersNielsen Holdings plc planned to spin off its global connect business to its shareholders.
Aircastle LtdInvestor Group1707.1An investor group, comprised of Marubeni Corp and Mizuho Lease Co Ltd, definitively agreed to acquire the remaining 71.174% interest, or 53.345 million common shares, which it did not already own, in Aircastle Ltd (Aircastle), a Stamford-based provider of jet aircraft leasing services, for $32 in cash per share, or a total value of $1.707 billion. Originally, in October 2019, Aircastle announced that it was seeking a buyer for the entire share capital of the company.
Cartus Corp-Employee RelocatioSirva Worldwide Inc400.0Sirva Worldwide Inc, a unit of Sirva Inc, definitively agreed to acquire the entire share capital of the employee relocation services business of Cartus Corp, a Danbury-based provider of human resources and executive search consulting services, ultimately owned by Realogy Holdings Corp, for an estimated $400 million in cash.