M&A wrap: Arizent, Duff & Phelps, Siris, Enett, Optal, Colgate, Siemens, Call for Nominations, What's ahead for 2020
Mergers & Acquisitions has opened up the nomination process for the 13th Annual M&A Mid-Market Awards, which will honor leading dealmakers and deals that set the standard for transactions in the middle market in 2019. Last year’s winners included: Hollie Haynes, who took home Dealmaker of the Year for raising a second fund for Luminate Capital Partners. Nominations are accepted only through our electronic forms. The deadline is Friday, Feb. 7, 2020. There is no fee. For more information on the nomination process and what we seek in winning candidates, see Call for nominations: Submissions for the M&A Mid-Market Awards due Feb. 7.
Mergers & Acquisitions is thrilled to share that our parent company has relaunched as Arizent. This new direction allows for our publication to continue to deepen our commitment to advancing the financial and professional service industries. Arizent will leverage our editorial brands and events to provide integrated content across our platforms, enhanced research, and peer networks—all to build communities that connect professionals around the most important ideas driving their industry forward. We are also launching a new offering, Arizent Leaders. Born out of our 17 years of honoring the Most Powerful Women in Banking, we have built this comprehensive, ongoing network to achieve tangible outcomes in gender equality, extending the significant impact to women across financial services as a whole. No other brands dive deeper into the topics that matter most to leaders in financial and professional services. From emerging business models and new customer behavior to artificial intelligence and data privacy to policy and regulatory trends, Arizent drives the conversations shaping the future of financial and professional services industries. Please explore and learn more at www.arizent.com and share if you have any questions.
Mergers & Acquisitions has named the 2020 Most Influential Women in Mid-Market M&A. This marks the fifth year we have produced the list, which recognizes female leaders with significant influence inside their companies and in the wider dealmaking world. It’s been gratifying to watch the project evolve over the years – and become more influential itself. This year, we received more nominations than ever before. As a result, we expanded the number honored to 42 in 2020, up from 36 in 2019. Many dealmakers are new to our list, including Rockwood Equity Partners' Kate Faust, William Blair's Shay Brokemond and Avante Capital Partners' Ivelisse Simon. Read our full coverage of all the champions of change on our list, including Q&As with each individual.
Wex (NYSE: WEX) is buying Enett, a payment services provider to the travel industry, and business-to-business transactions company Optal for $1.7 billion. Wex is buying Enett from Siris Capital Group and Elliot Management Corp.'s private equity affiliate Evergreen Coast Capital Group. "We are confident this transaction will enable us to accelerate our growth by deepening and expanding our position in the global travel market, broadening our product offerings to more fully address the needs of our travel customers, and diversifying our business geographically while reducing our exposure to macro-economic factors," says Wex CEO Melissa Smith. BofA Securities, Grant Samuel, Clifford Chance and Wilmer Cutler Pickering Hale and Dorr LLP are advising Wex. Credit Suisse Securities, LionTree Advisors and Wachtell, Lipton, Rosen & Katz are advising Enett. Herbert Smith Freehills and Financial Technology Partners are advising Optal.
Duff & Phelps has bought Lucid Cos., a European provider of securities solicitation, loan and bond services. The deal builds on Duff & Phelps’ business services offering following the firm’s 2019 acquisition of Prime Clerk. A group led by Stone Point Capital recently agreed to buy Duff & Phelps for $4.2 billion.
Colgate-Palmolive Co. (NYSE: CL) is buying oral care company Hello Products from Tenth Avenue Holdings. "We have great respect for the Hello team and their impressive product line, and value the strong connection they have made with younger consumers," says Colgate CEO Noel Wallace. Piper Sandler (NYSE: PIPR) and Zukerman Gore Brandeis & Crossman are advising Hello Products. Wachtell, Lipton, Rosen & Katz is advising Colgate.
Siemens is acquuring C&S Electric Ltd., a provider of electronic equipment for the infrastructure and power generation sectors in India. Ambit Private Ltd. and S&R Associates are advising C&S.
For more deal news, see Weekly wrap: FireEye, Stone Point, WHP Global.
For more on fundraising, see PE fundraising scorecard: Insight Partners, Madison Capital, Thoma Bravo.
If there’s anything M&A professionals dislike, it’s uncertainty. And heading into 2020, there’s more than enough uncertainty to go around, including questions about the economy, international trade, impeachment, domestic politics and more. The funny thing is, the lack of clarity may actually make the first half of the year a great time for M&A, as dealmakers push to close transactions before the looming uncertainty of Election Day and its outcome. We conducted interviews with 8 investment bankers and other M&A advisors. Some said the first half of the year will be robust, while others said the uncertainty may have a negative impact throughout 2020. Read the full story, What’s ahead for M&A in 2020? We ask 8 advisors.
Mergers & Acquisitions examines the impact of 7 technologies on M&A in the retail sector. Read the whole series:
Overview: Retail Tech M&A: 7 Technologies Driving Change
Retail Tech M&A #1: Nike, McDonald's, PayPal, add customization, IoT
Retail Tech M&A #2: Why Walmart and other retailers are buying artificial intelligence startups
Retail Tech M&A #3: Amazon leads race to build fulfillment centers
Retail Tech M&A #4: Do robots fill orders faster?
Retail Tech M&A #5: Voice recognition gives retailers more ways to communicate
Retail Tech M&A #6: Data improves customer service
Retail Tech M&A #7: Demand for convenience drives growth in mobile ordering
To celebrate deals, dealmakers and dealmaking firms, Mergers & Acquisitions produces three special reports every year: the M&A Mid-Market Awards; the Rising Stars of Private Equity; and the Most s for each, see Special reports overview: M&A Mid-Market Awards, Rising Stars, Most Influential Women.
The 8th Independent Sponsors Summit is taking from Jan. 28-29 at the Harmonie Club In New York.
ACG New York is hosting the 12th annual healthcare conference and bourbon tasting at the Metropolitan Club in New York on Feb. 27.
InterGrowth 2020 is taking place at the Aria Resort & Casino in Las Vegas from April 20-22.