US M&A Deals Announced March 20 to 26, 2020
TargetAcquirerValue ($millions)Synopsis
The Forum,Inglewood,CACAPSS LLC400.0CAPSS 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 IncChanje Energy Inc SPV360.0Chanje 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 LLCDuBois Chemicals Inc250.0DuBois 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 BuckheadBrookfield Ppty Grp Llc163.0Brookfield 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 IncDentsu Group Inc94.0Dentsu 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 IncDCC Health & Beauty Solutions85.0DCC 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,ORSecurity Properties Inc52.0Security Properties Inc acquired Outlook at Pilot Butte, a Bend-based lessor of residential buildings and dwellings, for a total $52 mil.
Reach Constr Grp LlcCUI Global Inc37.0CUI 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,FLBlackstone Group Inc25.4Blackstone 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-DistnSpirit Mas Funding X LLC14.7Spirit 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 TrailsNewmontis Re Invest Bkg11.8Newmontis 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,ILNewmontis Re Invest Bkg9.9Newmontis 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 CenterInvestor Group8.3An 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 IncAmerican Holoptics LLCAmerican 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 IncAssuredPartners IncAssuredPartners Inc, a unit of Apax Partners LP, acquired Aniello Insurance Agency Inc, a Las Vegas-based insurance agency.
Oil & Gas Bus Solutions IncBaker Tilly Virchow Krause LLPBaker 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 UnionBall State Fed Credit UnionBall State Federal Credit Union planned to merged with Financial Center First Credit Union, an Indianapolis-based credit union.
Neji IncBrex IncBrex 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 IncBrex IncBrex 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 TechnologiesBrex IncBrex 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 IncCentral Freight Lines IncCentral Freight Lines Inc definitively agreed to acquire Volunteer Express Inc, a Nashville-based provider of specialized freight trucking services.
Levementum LLCCognizant Technology SolutionsCognizant 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 IncCuraleaf Holdings Inc of Canada planned to acquire Arrow Alternative Care (AAC) Dispensaries(3), crop farming establishment.
Deltix IncEPAM Systems IncEPAM Systems Inc acquired Deltix Inc, a Natick-based developer of software.
Dillon Eye Care Assoc LtdEye Health America LLCEye 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 PAEye Health America LLCEye 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 UnionFluke Employees Federal CreditFluke 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 IncGuy & O’Neill IncGuy & O’Neill Inc acquired Boomerang Laboratories Inc, a Spring Park-based manufacturer of toilet preparations.
NorthStar Life Services LLCJohn McFarlandJohn McFarland acquired NorthStar Life Services LLC, an Irvine-based provider of insurance related services, from North Channel Bank GmbH & Co KG.
Sentient Energy IncKoch Engineered SolutionsKoch 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 ClemsonMultiversity Housing PartnersMultiversity Housing Partners LLC acquired The Ridge At Clemson, a Clemson-based lessor of residential buildings and dwellings.
Catalyst Networks IncPerficient IncPerficient Inc planned to acquire Catalyst Networks Inc, a Kennesaw-based software publisher.
Hilton Garden Inn, Providence,Procaccianti Hotel Reit IncProcaccianti Hotel Reit Inc acquired Hilton Garden Inn, a Providence-based hotel operator.
Rainier Welding IncRanch Creek Partners LLCRanch Creek Partners LLC acquired Rainier Welding Inc, a Redmond-based manufacturer of fabricated structural metal products, in a leveraged buyout transaction.
Vinca LLCRegistrar CorpRegistrar Corp acquired Vinca LLC, an Eden Prairie-based trade school operator. Terms were not disclosed.
Nw Motorsport IncRFJ Auto Partners IncRFJ Auto Partners Inc acquired Northwest Motorsport Inc, a Spokane Valley-based new car dealer.
Dawn Foods Inc-Frozen BakeryRise Baking CoRise 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 IncSS&C Technologies Holdings IncSS&C Technologies Holdings Inc definitively agreed to acquire Captricity Inc, an Oakland-based software publisher.
Maximum Media LLCSubsplash IncSubsplash 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 LLCThe Jordan Co LPThe 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 CorpWanda Sports Group Co LtdWanda 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.