US M&A Deals Announced June 19 to 25, 2020
TargetAcquirerValue ($millions)Synopsis
Pionyr Immunotherapeutics IncGilead Sciences Inc1465.0Gilead 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 IncInvitae Corp1391.5Invitae 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 IncTortoise Acquisition Corp1000.0Tortoise 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 CorpMastercard Inc985.0Mastercard 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 IncCrescent Acquisition Corp841.7Crescent 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-AssetsGFL Environmental Inc835.0GFL 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 LLCB Riley Principal Merger II290.0B 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 MassonSazerac Co Inc255.0Sazerac 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 Ltd210.9DBS 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 IncMaxar Technologies Inc140.0Maxar 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 IncLeMaitre Vascular Inc90.0LeMaitre 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 LlcInvestor Group71.5An 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 IncPlug Power Inc55.5Plug 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,CANextPower III Solar Fund52.0NextPower 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 HillInvestor Group46.0An 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 IncPortman Ridge Finance Corp19.1Portman 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,MARK Centers Inc8.6RK 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 Trust6.8Four 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-PptyFour Corners Property Trust2.7Four 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-Division10 Missions Media LLC10 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 SolutionsAE Industrial Partners LPAE 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 PCAnders Minkler & Diehl LLPAnders Minkler & Diehl LLP the entire share capital of Cummings Ristau & Associates PC, a St. Louis-based certified public accountant’s office.
Fleetsmith IncApple IncApple Inc acquired Fleetsmith Inc, a San Francisco-based developer of software for device application management, settings and security preferences.
WorkWise LLCAptean IncAptean Inc, a unit of Vista Equity Partners LLC, acquired WorkWise LLC, a Menomonee Falls-based software publisher.
Barrett Liner & Buss LLCArthur J Gallagher & CoArthur J Gallagher & Co acquired Barrett Liner & Buss LLC, an Ocala-based provider of employee benefits services. Terms were not disclosed.
Cunnington & Associates IncArthur J Gallagher & CoArthur J Gallagher & Co acquired Cunnington & Associates Inc, a Meridian-based insurance agency. Terms of the transaction were not disclosed.
Paladion IncAtos SEAtos SE of France agreed to acquire Paladion Inc, a Reston-based provider of computer systems design services.
Atalo Hldg IncAVF CBD LLCAVF CBD LLC acquired Atalo Holdings Inc, a Winchester-based provider of biotechnology research and development services. Terms were not disclosed.
Narcotic Addiction TreatmentBayMark Mgmt Svcs IncBayMark Management Services Inc acquired Narcotic Addiction Treatment Agency, a Sun Valley-based family-owned outpatient mental health and substance abuse center operator.
Verilux IncBear Down BrandsBear Down Brands acquired Verilux Inc, a Waitsfield-based manufacturer of industrial machinery.
PenBay Solutions LLCCartegraph Systems LLCCartegraph Systems LLC acquired PenBay Solutions LLC, a Brunswick-based software publisher.
Waypoint Advisors LLCCary Street Partners LLCCary 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 IncCedar Gate Technologies LLCCedar 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 LLCClearlake Capital Group LPClearlake 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 IncCloudengage IncCloudEngage 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 IncCoolSys IncCoolSys Inc, a unit of Ares Management LP, acquired TWC Refrigeration Inc, a Colchester-based plumbing, heating and air-conditioning contractor.
Sunrise Advisors IncCreative Planning IncCreative Planning Inc acquired Sunrise Advisors Inc, a Leawood-based investment advisor.
Biobright LLCDotmatics LtdDotmatics Ltd of the UK acquired Biobright LLC, a Boston-based provider of biotechnology research and development services.
IDX LLCElm Street Technology LLCElm Street Technology LLC acquired IDX LLC, an Eugene-based internet portal operator.
Crossfit IncEric RozaEric Roza planned to acquire Crossfit Inc, a Washington-based fitness and recreational sports center operator.
Footage Firm IncGreat Hill Partners LPGreat 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 CorpGreat Plains Commun IncGreat 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 StapletonGreystar Investment Group LLCGreystar 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 SolutionsGroup Management Services IncGroup Management Services Inc acquired Corporate Business Solutions Inc, a Marietta-based provider of human resources outsourcing services.
Care Terminal,Houston,TexasGulf Stream Marine IncGulf 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,MississippiGulf Stream Marine IncGulf 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 LLCInstalled Building ProductsInstalled Building Products Inc acquired Nationwide Gutter LLC, a Carrollton-based siding contractor.
Shift Technologies IncInsurance Acquisition CorpInsurance Acquisition Corp was rumored to be planning merge with Shift Technologies Inc, a San Francisco-based provider of e- commerce services.
Resource America Inc-CertInvestor GroupAn 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 LLCLightyear Capital LLCLightyear 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 IncLucid Audio LLCLucid Audio LLC acquired Westone Laboratories Inc, a Colorado Springs-based manufacturer of navigational, measuring, electromedical and control Instruments, from HealthEdge Investment PartnersLLC.
AirportParkingReservations.comManchester Airport Group PLCManchester 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 SoftwareMHC Software IncMHC Software Inc, a unit of Strattam Capital LLC, acquired Ecrion Software, a Rockville-based software publisher.
CMPG LLCMitratech Holdings IncMitratech Holdings Inc, a unit of TA Associates Management LP, acquired CMPG LLC, a Blue Ash-based provider of software services.
Precision Design Svcs-FiberNat Tech LLCNat 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 LafayetteNational Church ResidencesNational Church Residences acquired Woodlands On Lafayette, a Middletown-based provider of services for the elderly and persons with disabilities.
analytic.li LLCNovi Grp LlcNovi Group LLC acquired analytic.li LLC, an Indianapolis-based provider of workforce analytics services.
Clearview Centers LLCOdyssey Behavioral HealthcareOdyssey 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,UTOrion Re Partners LlcOrion Real Estate Partners LLC acquired Lookout Pointe Apartments, a Provo-based lessor of residential buildings and dwellings.
Rbmedia-Lbrry Bus & RBDigitalOverDrive IncOverDrive 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 IncPDFTron Systems IncPDFTron Systems Inc of Canada acquired ActivePDF Inc, a Mission Viejo-based developer of PDF software.
LEDVANCE-U Ind Ppty(4)Phoenix Investors LLCPhoenix 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 DosagePiramal Enterprises LtdPiramal 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 IncProGreen International IncProGreen 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 LLCQuest Products IncQuest 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 IncRedwireRedwire, 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 LLCRespiratory Tech CorpRespiratory Technology Corp acquired Somna Therapeutics LLC, a Germantown-based manufacturer of medical instruments.
American Safety Council IncRidgemont Partners ManagementRidgemont 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 LtdRyan Specialty Group LLCRyan 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 IncSouth Porte BankSouth Porte Bank acquired Southerntrust Bancshares Inc, a Goreville-based commercial bank.
Medical Delivery Services IncStrategic Delivery SolutionsStrategic 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 LLCStrategic Mapping IncStrategic 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 LoyaltyStuzo LlcStuzo LLC acquired Hatch Loyalty, a Chicago-based online retailer.
Sugarmate IncTandem Diabetes Care IncTandem Diabetes Care Inc acquired Sugarmate Inc, a New York-based reproducer of software. Terms were not disclosed.
Sigfox USA-TechnologicalThe Phoenix Fund LLCThe 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 TechnologiesTSI Group IncTSI Group Inc, a unit of B/E Aerospace Inc, acquired Metabolic Technologies LLC, a Missoula-based manufacturer of pharmaceutical preparation.
Autism Therapy Svcs LlcVAV Operations MI LLCVAV Operations MI LLC acquired Autism Therapy Services LLC, an Anderson-based owner and operator of health specialist’s office.
Isla AntiguaWest Shore LLCWest Shore LLC acquired Isla Antigua, a Saint Augustine-based lessor of residential buildings and dwellings.
Corbett Tech Solutions IncWind Point Partners LLCWind 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 LLCYabbYabb of Australia, a unit of Baycall Pty Ltd, acquired Fango LLC, a San Francisco-based provider of marketing platform.
Benefits Administration IncZenith American Holding IncZenith American Holding Inc acquired Benefits Administration Inc, a Baltimore-based direct health and medical insurance carrier.
Hydra-Zorb CoZSI-Foster IncZSI-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.