M&A wrap: Most Influential Women nominations due Oct 15; KKR, Minnesota Rubber

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The deadline for Mergers & Acquisitions' 2019 edition of The Most Influential Women in Mid-Market M&A is fast approaching. Nominations must be received by Monday, Oct. 15. By identifying and featuring dozens of influential women, Mergers & Acquisitions nurtures the community of female leaders and provides role models for women who are at earlier stages of their careers. To be considered, candidates must be women who are outstanding dealmakers both inside and outside of their firms. Evidence of influence in the broader M&A industry is essential. When nominating a candidate, please explain how she outperforms her colleagues at her firm and in the industry. Please provide examples of deals she has led, initiatives she has launched and other instances that show evidence of her influence in the middle market. While considering the merits of candidates, it’s helpful to read about women who have met our criteria in the past, such as Avante Mezzanine Partners CEO Jeri Harman (pictured), who made our 2018 list. See the profiles of 35 women in our previous edition. Click here to learn more about the criteria and to submit a nomination.

Deal news
First Interstate BancSystem in Billings, Montana, has agreed to buy two banks in Idaho. The $12.2 billion-asset company said that it will buy Idaho Independent Bank in Coeur d’Alene and Community 1st Bank in Post Falls. First Interstate said it will pay $181.3 million for Idaho Independent and $21.5 million for Community 1st. Read the full story: First Interstate bulks up in Idaho with two bank acquisitions.

Apollo Global Management LLC (NYSE: APO) funds agreed to commit an extra $700 million to Catalina Holdings Bermuda Ltd., an insurer that acquires old property-casualty policies that it seeks to wind down, according to Bloomberg News. Funds tied to Apollo invested in Catalina in 2013 and agreed in 2017 to buy a majority stake. The equity capital comes as the funds closed on a previously announced agreement to become majority shareholders of the company. RenaissanceRe Holdings Ltd. is now a minority shareholder, along with Catalina’s management.

KKR & Co. (NYSE: KKR) is buying Minnesota Rubber and Plastics, a provider of thermoplastic services, from Norwest Equity Partners. Benesch, Friedlander, Coplan & Aronoff LLP is advising KKR. Houlihan Lokey Inc. (NYSE: HLI), Skadden, Arps, Slate, Meagher & Flom LLP, and Ballard Spahr LLP are advising the sellers. KKR Capital Markets, Crescent Mezzanine Partners and PSP Investments Credit USA LLC are providing financing.

For more deal announcements, see the weekly wrap: DSW, Palladium, TransDigm.

For more on PE fundraising, see PE fundraising scorecard: Atlus Capital and Golub Capital Partners.

Featured content
The Philadelphia Eagles beat the New York Giants in Thursday night's NFL Week 6 game. New England Patriots quarterback Tom Brady made history in NFL Week 5, when he completed a touchdown pass to the 71st different receiver of his career, beating Vinny Testaverde’srecord of 70 and marking the 500th touchdown pass of Brady’s career. The team went on to beat the Indianapolis Colts. Off the court, Brady recently teamed with former Giants defensive end Michael Strahan, who is the co-host of ABC’s Good Morning America, to launch a sports media startup called Religion of Sports Media, which has raised $3 million in venture capital funding from CourtsideVC and Advancit Capital. Many NFL players invest in companies. Muhsin Muhammad, who played wide receiver for the Carolina Panthers and the Chicago Bears, is a managing director of private equity firm Axum Capital Partners. Steve Young, former San Francisco 49ers quarterback, is a co-founder of private equity firm HGGC. As Week 6 continues, Mergers & Acquisitions takes a look at star players who invest in companies through private equity, venture capital and other investment vehicles.

Food & beverage M&A offers plenty of mouth-watering deals. Giants Coca-Cola Co. (NYSE: KO) and PepsiCo Inc. (Nasdaq: PEP) update their product lines with healthy offerings, while private equity firms, such as Brynwood Partners, breathe new life into tried and true brands, like Pillsbury. And lots of buyers experiment with meal kits and delivery methods, fueling M&A. Read the full story: 9 food & beverage companies loved by consumers and dealmakers alike.

Strategic buyers leverage data, sell more snacks and cater to seniors. Mergers & Acquisitions outlines the M&A strategies of 8 corporations, including Best Buy, Energizer, Fortune Brands, Hershey, Nike, P&G, Stanley Black & Decker and Tyson Foods. See the full story: Best Buy, Hershey, Nike, P&G and more wield M&A to grow.

Tyson Foods Inc. (NYSE: TSN), the owner of Hillshire Farm, wants to “feed the world” with its protein brands and will seek acquisitions to help. How Tyson is focusing on what it does best through M&A.

Between 70 and 80 percent of all M&A integration projects fall short of delivering anticipated value. This isn't because the acquisition target is somehow subpar, it's because the acquiring firm lacks a strong integration strategy. Read the full story: How to accelerate value in the first 100 days after an acquisition.

Why investors like diversity. "Companies that are inclusive and also diverse tend to outperform companies that aren't," says investor Lorine Pendleton of Pipeline Angels and Portfolia in this video interview shot at Exponent Exchange, a gathering of 200 female dealmakers. Watch the full video: M&A Insights: Inclusion investing.

Events
M&A East, hosted by ACG Philadelphia and held Oct. 24-25, at the Pennsylvania Convention Center in Philadelphia, brings together 1,300 top strategic and financial dealmakers and leading middle-market advisors for deal sourcing and networking. Featured speakers include Walter Robb, former CEO Whole Foods, and Chris Voss, former FBI lead hostage negotiator. The Women in Dealmaking session will focus on Women in the Board Room.

Exponent Evening with Tequila Casa Dragones, hosted by Exponent Women LLC, a networking group for female dealmakers, held Oct. 25 at The Dream Downtown in New York, features tequila, food and a conversation between Bertha Gonzales Nieves, co-founder and CEO of Tequila Casa Dragones, and Mary Kathleen Flynn, editor-in-chief of Mergers & Acquisitions. For more on networking group’s previous event, see Exponent drew 200 women dealmakers to event featuring Sallie Krawcheck.

ACG Chicago's Family Office Conference, held Nov. 8, at the Westin Chicago River North, brings deamakers together for a "deep dive" into family offices. The event features a keynote by Laurent Roux, Gallatin Wealth Management, and panels, including: Current State of Family Office Direct & Co-Investment Activity, with Gary Levenstein, Nixon Peabody; and Impact of Millennial Generation on Family Office Investment Strategy including Social Impact Investing, with Adam Lieb and Tony Oommen, Fidelity Family Office Services.

ACG Florida Capital Connection, held Nov. 12-14, at the Vinoy Renaissance St. Petersburg Resort & Golf Club, puts “sun and fun” into dealmaking for the middle market, bringing together hundreds of dealmakers. The keynote speaker is Forbes Media CEO Steve Forbes, and the featured speaker for the Women’s Forum is Valerie Crites Fowler, who served as a diplomat in the U.S. Foreign Service for over 29 years, reaching the rank of Minister Counselor in the Senior Foreign Service.

Middle Market Week, hosted by ACG New York and held Nov. 26-30 at various locations throughout New York, brings together leading global middle-market dealmaking professionals to develop and enhance their dealmaking activities, strengthen their long-term relationships, and provide numerous opportunities for networking all week long. Mark your calendar for the Private Equity Annual Wine Tasting Gala on Nov. 28 at Gotham Hall. The building was constructed in the 1920s as the headquarters of the Greenwich Savings Bank. The gala brings together the leading middle market private equity firms for an evening of fine wines and networking.

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