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US M&A Deals Announced March 20 to 26, 2020
Target Acquirer Value ($millions) Synopsis
The Forum,Inglewood,CA CAPSS LLC 400.0 CAPSS LLC (CAPSS) agreed to acquire The Forum (Forum), an Inglewood-based indoor arena, from The Madison Square Garden Co, for $400 million in cash. Originally, in March 2020, CAPSS was rumored to be planning to acquire Forum.
Chanje Energy Inc Chanje Energy Inc SPV 360.0 Chanje Energy Inc SPV (SPV), a special purpose acquisition vehicle formed by J Streicher Holdings LLC, signed a Letter of Intent {LoI} to acquire a 94.74% interest in Chanje Energy Inc, a Hawthorne-based manufacturer of electric vehicles, from FDG Electric Vehicles Ltd, for an estimated $360 mil, in a leveraged buyout transaction. The consideration was to consist of an estimated $260 million cash, undisclosed amount via 10% equity stake in SPV and up to $100 million in profit-related payments.
CIMCOOL Fluid Technology LLC DuBois Chemicals Inc 250.0 DuBois Chemicals Inc, a unit of The Jordan Co LP, definitively agreed to acquire CIMCOOL Fluid Technology LLC, a Cincinnati-based manufacturer of chemical products, from Milacron Holdings Corp, ultimately owned by Hillenbrand Inc, for an estimated $250 million. The consideration was to consist of $224 million in cash, and up to $26 million in profit- related payments.
InterContinental Buckhead Brookfield Ppty Grp Llc 163.0 Brookfield Property Group LLC, a unit of Brookfield Asset Management Inc, acquired InterContinental Buckhead Hotel, an Atlanta-based owner and operator of hotels, from Pebblebrook Hotel Trust, for a total $163 mil.
Merkle Inc Dentsu Group Inc 94.0 Dentsu Inc (Dentsu) of Japan planned to acquire the remaining 32% stake, which it did not already own, in Merkle Inc, a Columbia-based provider of data processing and hosting services, a unit of Dentsu Aegis Network Ltd, ultimately owned by Dentsu Inc, for 4.7433 million of Dentsu common shares or an estimated $94.045 million. The shares were valued based on Dentsu's closing stock price of JPY 2203 (USD 19.827) on 24 March 2020, the last full trading day prior to the announcement.
Amerilab Technologies Inc DCC Health & Beauty Solutions 85.0 DCC Health & Beauty Solutions Ltd of the UK, a unit of DCC PLC, acquired Amerilab Technologies Inc, a Plymouth-based manufacturer of pharmaceutical preparation, for an estimated $85 million. The consideration was consisted of $85 million in cash and profit-related payments.
Outlook at Pilot Butte,Bend,OR Security Properties Inc 52.0 Security Properties Inc acquired Outlook at Pilot Butte, a Bend-based lessor of residential buildings and dwellings, for a total $52 mil.
Reach Constr Grp Llc CUI Global Inc 37.0 CUI Global Inc definitively agreed to acquire Reach Construction Group LLC, an Apex-based owner and operator of electric power generation facility, for an estimated $37 mil.
Crossroads Distribution Ctr,FL Blackstone Group Inc 25.4 Blackstone Group Inc acquired Crossroads Distribution Center, a Jacksonville-based lessor of nonresidential buildings, for a total $25.4 mil, in a leveraged buyout transaction.
Mac Papers Inc-Distn Spirit Mas Funding X LLC 14.7 Spirit Master Funding X LLC, a unit of Spirit Realty Capital Inc, acquired distribution warehouse of Mac Papers Inc, a Jacksonville-based wholesaler of printing papers and envelopes, ultimately owned by Monomoy Capital Partners LLC, for a total $14.68 mil.
Fisher Trails Newmontis Re Invest Bkg 11.8 Newmontis Real Estate Investment Banking (Newmontis) acquired Fisher Trails, a Dallas-based apartment complex with 66 units, for a total $11.765 million. Concurrently, Newmontis acquired 630 West Lake Street.
630 W Lake Street,Chicago,IL Newmontis Re Invest Bkg 9.9 Newmontis Real Estate Investment Banking (Newmontis) acquired 630 West Lake Street, a Chicago-based mixed- use property complex, for a total $9.9375 million. Concurrently, Newmontis acquired Fisher Trails.
Palisades Center Investor Group 8.3 An investor group, comprised of Pharo Palisades I LLC, High Cotton Shoals LLC and High Cotton Palisades LLC acquired Palisades Center, a West Nyack-based shopping center, for a total $8.3 mil.
L-3 Communications Eotech Inc American Holoptics LLC American Holoptics LLC, a unit of Koucar Management Inc, definitively agreed to acquire Eotech Inc, an Ann Arbor -based manufacturer of electronic components.
Aniello Insurance Agency Inc AssuredPartners Inc AssuredPartners Inc, a unit of Apax Partners LP, acquired Aniello Insurance Agency Inc, a Las Vegas-based insurance agency.
Oil & Gas Bus Solutions Inc Baker Tilly Virchow Krause LLP Baker Tilly Virchow Krause LLP planned to acquire Oil & Gas Business Solutions Inc, a Dallas-based provider of administrative management and general management consulting services.
Finl Ctr First Credit Union Ball State Fed Credit Union Ball State Federal Credit Union planned to merged with Financial Center First Credit Union, an Indianapolis-based credit union.
Neji Inc Brex Inc Brex Inc (Brex) acquired Neji Inc, a San Francisco-based provider of data processing and hosting services. Concurrently, Brex acquired Landria Technologies and Compose Labs Inc. Terms were not disclosed.
Compose Labs Inc Brex Inc Brex Inc (Brex) acquired Compose Labs Inc, a San Francisco-based software publisher. Concurrently, Brex acquired Landria Technologies and Neji Inc. Terms were not disclosed.
Landria Technologies Brex Inc Brex Inc (Brex) acquired Landria Technologies, a San Francisco-based software publisher. Concurrently, Brex acquired Neji Inc and Compose Labs Inc. Terms were not disclosed.
Volunteer Express Inc Central Freight Lines Inc Central Freight Lines Inc definitively agreed to acquire Volunteer Express Inc, a Nashville-based provider of specialized freight trucking services.
Levementum LLC Cognizant Technology Solutions Cognizant Technology Solutions Corp agreed to acquire Levementum LLC, a Chandler-based digital marketing consultancy firm. Financial details were not disclosed.
Arrow Alternative Care (AAC) Curaleaf Holdings Inc Curaleaf Holdings Inc of Canada planned to acquire Arrow Alternative Care (AAC) Dispensaries(3), crop farming establishment.
Deltix Inc EPAM Systems Inc EPAM Systems Inc acquired Deltix Inc, a Natick-based developer of software.
Dillon Eye Care Assoc Ltd Eye Health America LLC Eye Health America LLC (EHA), a unit of LLR Partners Inc, acquired Dillon Eye Care Associates Ltd, a Dillon-based optometrist's office operator. Concurrently, EHA acquired Pee Dee Eye Associates PA.
Pee Dee Eye Associates PA Eye Health America LLC Eye Health America LLC (EHA), a unit of LLR Partners Inc, acquired Pee Dee Eye Associates PA, a Sumter-based optometrist's office operator. Concurrently, EHA acquired Dillon Eye Care Associates Ltd.
Sound Credit Union Fluke Employees Federal Credit Fluke Employees Federal Credit Union agreed to acquire the entire share capital of Sound Credit Union, a Tacoma-based credit union, from Port of Seattle Federal Credit Union.
Boomerang Labs Inc Guy & O'Neill Inc Guy & O'Neill Inc acquired Boomerang Laboratories Inc, a Spring Park-based manufacturer of toilet preparations.
NorthStar Life Services LLC John McFarland John McFarland acquired NorthStar Life Services LLC, an Irvine-based provider of insurance related services, from North Channel Bank GmbH & Co KG.
Sentient Energy Inc Koch Engineered Solutions Koch Engineered Solutions, a unit of Koch Industries Inc, acquired Sentient Energy Inc, a Burlingame-based manufacturer of electrical signals measuring and testing instruments.
The Ridge At Clemson Multiversity Housing Partners Multiversity Housing Partners LLC acquired The Ridge At Clemson, a Clemson-based lessor of residential buildings and dwellings.
Catalyst Networks Inc Perficient Inc Perficient Inc planned to acquire Catalyst Networks Inc, a Kennesaw-based software publisher.
Hilton Garden Inn, Providence, Procaccianti Hotel Reit Inc Procaccianti Hotel Reit Inc acquired Hilton Garden Inn, a Providence-based hotel operator.
Rainier Welding Inc Ranch Creek Partners LLC Ranch Creek Partners LLC acquired Rainier Welding Inc, a Redmond-based manufacturer of fabricated structural metal products, in a leveraged buyout transaction.
Vinca LLC Registrar Corp Registrar Corp acquired Vinca LLC, an Eden Prairie-based trade school operator. Terms were not disclosed.
Nw Motorsport Inc RFJ Auto Partners Inc RFJ Auto Partners Inc acquired Northwest Motorsport Inc, a Spokane Valley-based new car dealer.
Dawn Foods Inc-Frozen Bakery Rise Baking Co Rise Baking Co, a unit of Olympus Partners LP, agreed to acquire frozen bakery business of Dawn Foods Inc, a Jackson-based commercial bakery. Terms of the transaction were not disclosed.
Captricity Inc SS&C Technologies Holdings Inc SS&C Technologies Holdings Inc definitively agreed to acquire Captricity Inc, an Oakland-based software publisher.
Maximum Media LLC Subsplash Inc Subsplash Inc planned to acquire Maximum Media LLC dba StreamSpot, a Cincinnati-based provider of content delivery platform providing live streaming services for faith-based organizations and businesses.
Transportation Impact LLC The Jordan Co LP The Jordan Co LP acquired the entire share capital of Transportation Impact LLC, an Emerald Isle-based provider of marketing consulting services, in a leveraged buyout transaction.
World Triathlon Corp Wanda Sports Group Co Ltd Wanda Sports Group Co Ltd of China definitively agreed to acquire the entire share capital of World Triathlon Corp, a Tampa-based provider of recreation services, from Dalian Wanda Group Co Ltd, ultimately owned by Dalian Hexing Investment Co Ltd.