Weekly wrap: Mastercard, AEI, Gilead

Register now


US M&A Deals Announced June 19 to 25, 2020
Target Acquirer Value ($millions) Synopsis
Pionyr Immunotherapeutics Inc Gilead Sciences Inc 1465.0 Gilead Sciences Inc (Gilead) was granted an option to acquire the remaining 50.1% interest, which it did not already own, in Pionyr Immunotherapeutics Inc (Pionyr), a San Francisco-based manufacturer of biological products, for an estimated $1.465 billion. The consideration was to consist of $315 million and up to $1.15 billion in profit-related payments. Concurrently, Gilead planned to acquire the 49.9% stake in Pionyr.
ArcherDX Inc Invitae Corp 1391.5 Invitae Corp (Invitae) definitively agreed to merge with ArcherDX Inc, a Boulder-based provider of biotechnology research and development services, for a total $1.391 billion. The consideration was to consist of $325 million in cash, issuance of $30 million in common shares valued at $561.3 mil, and up to $505. 17 million in profit-related payments. The shares were valued based on Invitae' closing stock price of $18. 71 on 19 June 2020, the last full trading day prior to the announcement.
Hyliion Inc Tortoise Acquisition Corp 1000.0 Tortoise Acquisition Corp (Tortoise) definitively agreed to merge with Hyliion Inc, a Cedar Park-based manufacturer of motors and generators, for $1 billion in Tortoise common stock, in a stock swap transaction. Upon completion, the merged entity was to be named Hyliion Holdings Corp.
Finicity Corp Mastercard Inc 985.0 Mastercard Inc agreed to acquire Finicity Corp, a Salt Lake City-based software publisher, for $985 million. The consideration was to consist of $825 million and up to $160 million in profit- related payments.
F45 Training Hldg Inc Crescent Acquisition Corp 841.7 Crescent Acquisition Corp (Crescent) definitively agreed to acquire the entire share capital of F45 Training Holdings Inc (F45), an El Segundo-based fitness and recreational sports center operator, for $841.7 mil, in a stock swap transaction. The consideration was to consist of $202 million in cash, $526 million in new Crescent common shares, plus up to $113.7 million in profit related payments. Originally, in June 2020, Crescent was rumored to be planning to acquire the entire share capital of F45.
Advanced & Waste-Assets GFL Environmental Inc 835.0 GFL Environmental Inc of Canada agreed to acquire assets of Advanced Disposal & Waste Management, a Houston-based provider of solid waste collection services, for $835 million. The transaction was conditioned upon the completion of the merger of Waste Management Inc and Advanced Disposal Services Inc.
Eos Energy Storage LLC B Riley Principal Merger II 290.0 B Riley Principal Merger Corp II, a unit of B Riley Principal Sponsor Co LLC, signed a Letter of Intent {LoI} to acquire the entire share capital of Eos Energy Storage LLC, an Edison-based manufacturer of storage batteries, from Holtec International Corp, for a total $290 million. Upon completion, Eos Energy Storage LLC was to be publicly listed.
Constellation-Paul Masson Sazerac Co Inc 255.0 Sazerac Co Inc agreed to acquire Paul Masson Grande Amber Brandy of Constellation Brands Inc, a Victor-based winery, for an estimated $255 mil.
MRDCT-U US Data Centres(14) DBS Trustee Ltd 210.9 DBS Trustee Ltd of Singapore, a unit of Mapletree Industrial Trust, agreed to acquire the remaining 60% interest, which it did not already own, in 14 undisclosed US data centres of Mapletree Redwood Data Centre Trust, a Singapore-based lessor of nonresidential buildings, jointly owned by Mapletree Investments Pte Ltd and Mapletree Industrial Trust, for a total $210.9 mil.
Vricon Inc Maxar Technologies Inc 140.0 Maxar Technologies Inc intended its option to acquire Vricon Inc, a Reston-based manufacturer of wireless communications equipment, jointly owned by DigitalGlobe Inc and Saab AB, for a total $140 mil.
Artegraft Inc LeMaitre Vascular Inc 90.0 LeMaitre Vascular Inc acquired Artegraft Inc, a North Brunswick-based manufacturer of medical instruments, for a total $90 million. The consideration was consisted of $72.5 million in cash, and up to $17.5 million in profit-related payments.
Tides At S Tempe Manager Llc Investor Group 71.5 An investor group, comprised of FCP Fund Manager LLC and Tides Equities LLC acquired Tides At South Tempe Manager LLC, a Los Angeles-based lessor of residential buildings and dwellings, from The Robinson Group LLC, for a total $71.5 mil.
Giner ELX Inc Plug Power Inc 55.5 Plug Power Inc (Plug) acquired the entire share capital of Giner ELX Inc, a Newton-based manufacturer of motors and generators, for a total $55.451 million. The consideration consisted of 3. 458 million common shares or a total value of $18.951 mil, $20.5 million in cash plus up to $16 million in profit- related payments. The shares were valued based on Plug's closing stock price of $5. 48 on 21 June 2020, the last full trading day prior to the announcement.
New Energy Solar - Plant,CA NextPower III Solar Fund 52.0 NextPower III International Solar Fund of the UK, a unit of NextEnergy Capital Ltd, agreed to acquire a 50% ownership interest in Mount Signal Plant 2 of New Energy Solar, a North Sydney-based electric power generation facility operator, for a total $52 million. Originally, in November 2019, New Energy Solar Ltd announced that it was seeking a buyer for 50% ownership interest in its Mount Signal Plant 2.
The Plaza At Chapel Hill Investor Group 46.0 An investor group, comprised of Dragonfly Investments LLC, America's Realty LLC and Borough Equities acquired The Plaza at Chapel Hill, a Cuyahoga Falls-based supermarket operator, from Institutional Property Advisors, ultimately owned by Marcus & Millichap Inc, for a total $46 million. The transaction was to include Burlington and Akron Power Center.
Garrison Capital Inc Portman Ridge Finance Corp 19.1 Portman Ridge Finance Corp (PTMN) definitively agreed to acquire the entire share capital of Garrison Capital Inc (GARS), a New York-based business development company, for a $1.19 per share or a total value of $19.1 million. The consideration was to consist of $19.1 in cash plus undisclosed PTMN common shares. Upon completion, PTMN and GARS were to own 58.4% and 41.6% of the combined entity, respectively.
RK Center II,Marlborough,MA RK Centers Inc 8.6 RK Centers Inc acquired RK Center II, a Marlborough-based lessor of nonresidential buildings, for a total $8.6 mil.
Pennsylvania REIT-Ppty(4) Four Corners Property Trust 6.8 Four Corners Property Trust Inc acquired 4 property portfolio of Pennsylvania Real Estate Investment Trust, a Philadelphia-based lessor of real estate property, for a total $6.8 mil.
Big O Tires-Ppty Four Corners Property Trust 2.7 Four Corners Property Trust Inc planned to acquire property of Big O Tires, an Englewood-based automotive parts and accessories retailer, for a total $2.7 mil.
Bobit Bus Media-Division 10 Missions Media LLC 10 Missions Media LLC acquired automotive aftermarket division of Bobit Business Media Inc, a Torrance-based internet portal operator, ultimately owned by Gemspring Capital LLC.
Nuwave Solutions AE Industrial Partners LP AE Industrial Partners LP acquired an undisclosed majority interest in NuWave Solutions, a McLean-based provider of custom computer programming services, in a leveraged buyout transaction.
Cummings Ristau & Assoc PC Anders Minkler & Diehl LLP Anders Minkler & Diehl LLP the entire share capital of Cummings Ristau & Associates PC, a St. Louis-based certified public accountant's office.
Fleetsmith Inc Apple Inc Apple Inc acquired Fleetsmith Inc, a San Francisco-based developer of software for device application management, settings and security preferences.
WorkWise LLC Aptean Inc Aptean Inc, a unit of Vista Equity Partners LLC, acquired WorkWise LLC, a Menomonee Falls-based software publisher.
Barrett Liner & Buss LLC Arthur J Gallagher & Co Arthur J Gallagher & Co acquired Barrett Liner & Buss LLC, an Ocala-based provider of employee benefits services. Terms were not disclosed.
Cunnington & Associates Inc Arthur J Gallagher & Co Arthur J Gallagher & Co acquired Cunnington & Associates Inc, a Meridian-based insurance agency. Terms of the transaction were not disclosed.
Paladion Inc Atos SE Atos SE of France agreed to acquire Paladion Inc, a Reston-based provider of computer systems design services.
Atalo Hldg Inc AVF CBD LLC AVF CBD LLC acquired Atalo Holdings Inc, a Winchester-based provider of biotechnology research and development services. Terms were not disclosed.
Narcotic Addiction Treatment BayMark Mgmt Svcs Inc BayMark Management Services Inc acquired Narcotic Addiction Treatment Agency, a Sun Valley-based family-owned outpatient mental health and substance abuse center operator.
Verilux Inc Bear Down Brands Bear Down Brands acquired Verilux Inc, a Waitsfield-based manufacturer of industrial machinery.
PenBay Solutions LLC Cartegraph Systems LLC Cartegraph Systems LLC acquired PenBay Solutions LLC, a Brunswick-based software publisher.
Waypoint Advisors LLC Cary Street Partners LLC Cary Street Partners LLC, a unit of Cary Street Partners Financial LLC, definitively agreed to acquire Waypoint Advisors LLC, a Virginia Beach-based investment advisor. Terms of the transaction were not disclosed.
Citra Health Solutions Inc Cedar Gate Technologies LLC Cedar Gate Technologies LLC, a unit of GTCR LLC, acquired Citra Health Solutions Inc, a Morrisville-based software publisher, from Great Point Partners LLC.
WhiteStar Asset Management LLC Clearlake Capital Group LP Clearlake Capital Group LP, a unit of Reservoir Capital Group LLC, acquired an undisclosed majority interest in WhiteStar Asset Management LLC, a Dallas-based portfolio manager, from Pine Brook Partners LLC, in a leveraged buyout transaction. The terms of the transaction are not disclosed.
AnswerDash Inc Cloudengage Inc CloudEngage Inc acquired AnswerDash Inc, a Seattle-based provider of AI powered self-service support and ecommerce solutions. Terms of the deal were not disclosed.
TWC Refrigeration Inc CoolSys Inc CoolSys Inc, a unit of Ares Management LP, acquired TWC Refrigeration Inc, a Colchester-based plumbing, heating and air-conditioning contractor.
Sunrise Advisors Inc Creative Planning Inc Creative Planning Inc acquired Sunrise Advisors Inc, a Leawood-based investment advisor.
Biobright LLC Dotmatics Ltd Dotmatics Ltd of the UK acquired Biobright LLC, a Boston-based provider of biotechnology research and development services.
IDX LLC Elm Street Technology LLC Elm Street Technology LLC acquired IDX LLC, an Eugene-based internet portal operator.
Crossfit Inc Eric Roza Eric Roza planned to acquire Crossfit Inc, a Washington-based fitness and recreational sports center operator.
Footage Firm Inc Great Hill Partners LP Great Hill Partners LP agreed to acquire Footage Firm Inc, an Arlington-based provider of data processing and hosting services, in a leveraged buyout transaction.
Enhanced Telecommun Corp Great Plains Commun Inc Great Plains Communications Inc, a unit of Grain Management LLC, definitively agreed to acquire Enhanced Telecommunications Corp, a Sunman-based wired telecommunications carrier. The financial terms of the acquisition have not been disclosed.
The Grove at Stapleton Greystar Investment Group LLC Greystar Investment Group LLC acquired The Grove at Stapleton, a Denver-based owner and operator of senior living apartment communities, from The Carlyle Group LLC, owned by The Carlyle Group LP.
Corporate Business Solutions Group Management Services Inc Group Management Services Inc acquired Corporate Business Solutions Inc, a Marietta-based provider of human resources outsourcing services.
Care Terminal,Houston,Texas Gulf Stream Marine Inc Gulf Stream Marine Inc (Gulf Stream), a unit of Logistec Corp, planned to acquire Care Terminal, a Houston-based provider of port and harbor operation services, from Coastal Cargo Co LLC. Concurrently, Gulf Stream planned to acquire Port of Pascagoula, a Pascagoula-based provider of port and harbor operation services, from Gulf Coast Storage Inc.
Port of Pascagoula,Mississippi Gulf Stream Marine Inc Gulf Stream Marine Inc (Gulf Stream), a unit of Logistec Corp, planned to acquire Port of Pascagoula, a Pascagoula-based provider of port and harbor operation services, from Gulf Coast Storage Inc. Concurrently, Gulf Stream planned to acquire Care Terminal, a Houston-based provider of port and harbor operation services, from Coastal Cargo Co LLC.
Nationwide Gutter LLC Installed Building Products Installed Building Products Inc acquired Nationwide Gutter LLC, a Carrollton-based siding contractor.
Shift Technologies Inc Insurance Acquisition Corp Insurance Acquisition Corp was rumored to be planning merge with Shift Technologies Inc, a San Francisco-based provider of e- commerce services.
Resource America Inc-Cert Investor Group An investor group, comprised of BC Partners LLP and Mount Logan Capital Inc planned to acquire certain assets of Resource America Inc, a Philadelphia-based provider of financial investment services, owned by C-III Capital Partners LLC.
HealthPlanOne LLC Lightyear Capital LLC Lightyear Capital LLC agreed to acquire an undisclosed majority interest in HealthPlanOne LLC, a Trumbull-based direct health and medical insurance carrier, in a leveraged buyout transaction.
Westone Laboratories Inc Lucid Audio LLC Lucid Audio LLC acquired Westone Laboratories Inc, a Colorado Springs-based manufacturer of navigational, measuring, electromedical and control Instruments, from HealthEdge Investment PartnersLLC.
AirportParkingReservations.com Manchester Airport Group PLC Manchester Airport Group PLC of the UK acquired AirportParkingReservations. com Inc, a Santa Monica-based provider of online airport parking reservation services. The transaction included ParkSleepFly Inc.
Ecrion Software MHC Software Inc MHC Software Inc, a unit of Strattam Capital LLC, acquired Ecrion Software, a Rockville-based software publisher.
CMPG LLC Mitratech Holdings Inc Mitratech Holdings Inc, a unit of TA Associates Management LP, acquired CMPG LLC, a Blue Ash-based provider of software services.
Precision Design Svcs-Fiber Nat Tech LLC Nat Tech LLC, a unit of NTI Connect LLC, acquired the fiber network engineering business of Precision Design Services Inc, a Morris Plains-based provider of engineering services.
Woodlands On Lafayette National Church Residences National Church Residences acquired Woodlands On Lafayette, a Middletown-based provider of services for the elderly and persons with disabilities.
analytic.li LLC Novi Grp Llc Novi Group LLC acquired analytic.li LLC, an Indianapolis-based provider of workforce analytics services.
Clearview Centers LLC Odyssey Behavioral Healthcare Odyssey Behavioral Healthcare LLC, a unit of Nautic Partners LLC, acquired Clearview Centers LLC, a Venice-based outpatient mental health and substance abuse center operator.
Lookout Pointe Apartments,UT Orion Re Partners Llc Orion Real Estate Partners LLC acquired Lookout Pointe Apartments, a Provo-based lessor of residential buildings and dwellings.
Rbmedia-Lbrry Bus & RBDigital OverDrive Inc OverDrive Inc, a unit of KKR Americas II Fund, planned to acquire library business & rbdigital of RBMedia, a Landover-based producer and distributor of records, owned by KKR & Co LP.
ActivePDF Inc PDFTron Systems Inc PDFTron Systems Inc of Canada acquired ActivePDF Inc, a Mission Viejo-based developer of PDF software.
LEDVANCE-U Ind Ppty(4) Phoenix Investors LLC Phoenix Investors LLC acquired 4 undisclosed industrial properties of LEDVANCE GmbH, a Garching-based manufacturer of lighting products, ultimately owned by MLS Co Ltd.
G&W Labs Inc- Oral Dosage Piramal Enterprises Ltd Piramal Enterprises Ltd of India planned to acquire oral dosage drug manufacturing facility of G&W Laboratories Inc, a South Plainfield-based manufacturer of pharmaceutical preparation.
ProLawn Inc ProGreen International Inc ProGreen International Inc, a unit of Specialty Surfaces International Inc, acquired ProLawn Inc, a Wildomar-based fitness and recreational sports center operator. The terms of the transaction were not disclosed.
Alliance Labs LLC Quest Products Inc Quest Products Inc acquired the entire share capital of Alliance Labs LLC, a Phoenix-based manufacturer of pharmaceutical preparation. Terms were not disclosed.
Made In Space Inc Redwire Redwire, a unit of AE Industrial Partners LP, acquired Made In Space Inc, a Jacksonville-based manufacturer of aircraft parts and auxiliary equipment. Terms were not disclosed.
Somna Therapeutics LLC Respiratory Tech Corp Respiratory Technology Corp acquired Somna Therapeutics LLC, a Germantown-based manufacturer of medical instruments.
American Safety Council Inc Ridgemont Partners Management Ridgemont Partners Management LLC acquired American Safety Council Inc, an Orlando-based provider of business support services, from Falfurrias Capital Partners LLC, in a leveraged buyout transaction.
All Risks Ltd Ryan Specialty Group LLC Ryan Specialty Group LLC definitively agreed to merge with All Risks Ltd, a Hunt Valley-based insurance agency, from Reel Media LLC, owned by FFI Holdings PLC. Terms of the transaction were not disclosed.
Sthrntr Bancshares Inc South Porte Bank South Porte Bank acquired Southerntrust Bancshares Inc, a Goreville-based commercial bank.
Medical Delivery Services Inc Strategic Delivery Solutions Strategic Delivery Solutions LLC, a unit of HCI Equity Partners LLC, acquired Medical Delivery Services Inc, a Tampa-based provider of transportation services. Financial terms of the transaction were not disclosed.
moovel North America LLC Strategic Mapping Inc Strategic Mapping Inc of Canada acquired moovel North America LLC, a Portland-based software publisher, jointly owned by Bayerische Motoren Werke AG and Daimler AG. Terms of the transaction were not disclosed.
Hatch Loyalty Stuzo Llc Stuzo LLC acquired Hatch Loyalty, a Chicago-based online retailer.
Sugarmate Inc Tandem Diabetes Care Inc Tandem Diabetes Care Inc acquired Sugarmate Inc, a New York-based reproducer of software. Terms were not disclosed.
Sigfox USA-Technological The Phoenix Fund LLC The Phoenix Fund LLC of Puerto Rico acquired technological platform of Sigfox USA, a Boston-based provider of internet service, in a leveraged buyout transaction.
Metabolic Technologies TSI Group Inc TSI Group Inc, a unit of B/E Aerospace Inc, acquired Metabolic Technologies LLC, a Missoula-based manufacturer of pharmaceutical preparation.
Autism Therapy Svcs Llc VAV Operations MI LLC VAV Operations MI LLC acquired Autism Therapy Services LLC, an Anderson-based owner and operator of health specialist's office.
Isla Antigua West Shore LLC West Shore LLC acquired Isla Antigua, a Saint Augustine-based lessor of residential buildings and dwellings.
Corbett Tech Solutions Inc Wind Point Partners LLC Wind Point Partners LLC acquired Corbett Technology Solutions Inc, a Chantilly-based manufacturer of audio and video equipment, from Tower Arch Capital LLC, in a leveraged buyout transaction.
Fango LLC Yabb Yabb of Australia, a unit of Baycall Pty Ltd, acquired Fango LLC, a San Francisco-based provider of marketing platform.
Benefits Administration Inc Zenith American Holding Inc Zenith American Holding Inc acquired Benefits Administration Inc, a Baltimore-based direct health and medical insurance carrier.
Hydra-Zorb Co ZSI-Foster Inc ZSI-Foster Inc, a unit of Ideal Clamp Products Inc, acquired Hydra-Zorb Co, an Auburn Hills-based manufacturer of industrial fasteners. Terms were not disclosed.