US M&A Deals Announced November 22 to 28, 2019
TargetAcquirerValue ($millions)Synopsis
TD Ameritrade Holding CorpCharles Schwab Corp28304.7Charles Schwab Corp (Charles Schwab) definitively agreed to merge with TD Ameritrade Holding Corp (TD Ameritrade), an Omaha-based provider of securities brokerage services and related technology-based financial services, from Toronto-Dominion Bank and other shareholders, in a stock swap transaction valued at $ 28.305 bil. Charles Schwab offered 1.084 common shares per TD Ameritrade common share. Based on Charles Schwab’s closing stock price of $ 48.2 on 22 November 2019, the last full trading day prior to the announcement, each TD Ameritrade share was valued at $ 52.234. Originally, in November 2019, Charles Schwab was rumored to be planning to acquire the entire share capital of TD Ameritrade.
The Medicines CoNovartis AG7384.3Novartis AG of Switzerland definitively agreed to acquire the entire share capital of The Medicines Co, a Parsipanny-based manufacturer of pharmaceutical preparation, for $ 85 in cash per share, or a total value of $ 7.384 bil, via tender offer.
StubHub Incviagogo AG4050.0viagogo AG of Switzerland definitively agreed to acquire StubHub Inc (StubHub), a San Francisco-based online ticket marketplace operator, from eBay Inc (eBay), for $ 4.05 bil in cash. Originally, in January 2019, eBay was rumored to be seeking a buyer for its StubHub unit. Walmart, Google, Vivid Seats LLC and KKR & Co were rumored to be potential bidders.
Fortitude Group Holdings LLCInvestor Group1800.0An investor group, comprised of T&D Holdings Inc(51.6%) and Carlyle FRL LP(25%) agreed to acquire a 76.6% interest in Fortitude Group Holdings LLC, reinsurance carrier, from American International Group Inc, for an estimated $ 1.8 bil.
Kosmos Cement Co-Cement plantEagle Materials Inc665.0Eagle Materials Inc definitively agreed to acquire cement plant of Kosmos Cement Co, a Louisville-based manufacturer of cement, jointly owned by Cemex SAB de CV and Buzzi Unicem SpA, for an estimated $ 665 million in cash.
SPX FLOW Inc-Power & Energy BuApollo Global Management Inc475.0Apollo Global Management Inc definitively agreed to acquire power & energy business (P&E) of SPX FLOW Inc (SPX), a Charlotte-based manufacturer of metal forming machine tools, for an estimated $ 475 million in cash, in a leveraged buyout transaction. Originally, in May 2019 SPX announced that it was seeking a buyer for P&E.
Curt Manufacturing LLCLippert Components Inc340.0Lippert Components Inc, a unit of LCI Industries, definitively agreed to acquire Curt Manufacturing LLC, an Eau Claire-based manufacturer of industrial load moving machinery, from Audax Group LP, for an estimated $ 340 million in cash.
Transcontinental Inc-Paper &Hood Packaging Corp180.0Hood Packaging Corp of Canada definitively agreed to acquire the paper & woven polypropylene packaging operations of Transcontinental Inc, a Montreal-based newspaper publisher, for an estimated $ 180 mil.
Aporeto IncPalo Alto Networks Inc150.0Palo Alto Networks Inc definitively agreed to acquire Aporeto Inc, a San Francisco-based software publisher, for a total $ 150 mil.
350 Rhode Island St BldgPRP LLC134.2PRP LLC acquired 350 Rhode Island St Building, from Clarion Partners LLC, a New York-based lessor of real estate property, ultimately owned by Legg Mason Inc, for a total $ 134.2 mil.
Olam W Coast Inc-Real EstateMesirow Financial Consulting110.3Mesirow Financial Consulting, a unit of Mesirow Financial Holdings Inc, definitively agreed to acquire onion & garlic real estate assets of Olam West Coast Inc, fresh fruits and vegetables merchant wholesaler, owned by Olam International Ltd, for a total $ 110.3 mil.
Salix Juanita Village,WARise Properties Trust101.5Rise Properties Trust of Canada acquired Salix Juanita Village, a Kirkland-based lessor of residential buildings and dwellings, from Guardian Life Insurance Co of America, for a total $ 101. 5 mil.
U Industrial Property,CARexford Industrial Realty Inc56.1Rexford Industrial Realty Inc acquired Undisclosed Industrial Properties, a Los Angeles-based lessor of nonresidential buildings, for a total $ 56.1 mil.
Cresco Labs Inc-Facilities(2)Innovative Industrial Ppty Inc38.0Innovative Industrial Properties Inc agreed to acquire 2 cultivation facilities of Cresco Labs Inc, a Chicago-based manufacturer of medicinals and botanicals, for an estimated $ 38 mil, in a sale and leaseback transaction.
Pharr High PerformanceCoats Group PLC37.0Coats Group PLC of the UK definitively agreed to acquire Pharr High Performance, a McAdenville-based yarn spinning mill operator, from Pharr Yarns LLC, for a total $ 37 mil.
Frankly IncTorque Esports Corp36.9Torque Esports Corp (Torque) of Canada definitively agreed to merge with Frankly Inc (Frankly), a New York City-based developer of software, for a total $ 36.856 mil, in a stock swap transaction. Torque offered 1 common shares per Frankly share. Based on Torque’s closing stock price of CAD 1. 61 (USD 1.212) on 22 November 2019, the last full trading day prior to the announcement. Concurrently, Torque Esports Corp definitively agreed to merge with Winview Inc.
Winview IncTorque Esports Corp35.0Torque Esports Corp of Canada definitively agreed to merge with Winview Inc, a Redwood City-based provider of custom computer programming services, for a total $ 35 million. Concurrently, Torque Esports Corp definitively agreed to merge with Frankly Inc.
Kimpton Topaz HotelDouglas Dvlp Corp.33.1Douglas Development Corp acquired Kimpton Topaz Hotel, a Washington DC-based hotel operator, from Pebblebrook Hotel Trust, for a total $ 33.1 mil.
Mckesson Patient CareAdapthealth Corp30.0Adapthealth Corp definitively agreed to acquire Mckesson Patient Care Solutions Inc, a Moorestown-based food supplement products retailer, from McKesson Corp, for a total $ 30 mil.
Wealth-X IncEuromoney Institutional Inv20.4Euromoney Institutional Investor PLC of the UK definitively agreed to acquire Wealth-X Inc, a New York City-based provider of data processing and hosting services, for a total $ 20. 4 mil.
Northside StationWestward Capital Group15.8Westward Capital Group acquired Northside Station Retail Property, a Charlotte-based lessor of nonresidential buildings, for an estimated $ 15.8 mil.
Kase Farma IncHTC Purenergy Inc10.9HTC Purenergy Inc of Canada agreed to acquire the entire share capital of Kase Farma Inc, a Ceres-based manufacturer of medicinals and botanicals, from Starling Brands Inc, for a total $ 10.9 mil.
Corvus Consulting LlcBionovelus Inc9.0Bionovelus Inc acquired Corvus Consulting LLC, a Centreville-based provider of technical consulting services, for a total $ 9 mil.
Advansource-AssetsMitsubishi Chemical Chem7.3Mitsubishi ChemicalPerformance Polymers Inc, a unit of Mitsubishi Chemical Corp, definitively agreed to acquire assets of AdvanSource Biomaterials Corp, a Wilmington-based manufacturer of medical instruments, for a total $ 7.25 mil.
Mendo Distn & Transp Llc LLCHalo Labs Inc4.8Halo Labs Inc of Canada planned to merge with Mendo Distribution & Transportation LLC, an Ukiah-based manufacturer of medicinals and botanicals, for a total $ 4.75 mil.
Flexographic Packaging CoAdvanced Barrier ExtrusionsAdvanced Barrier Extrusions LLC, a unit of Graham Partners Inc, acquired Flexographic Packaging Co, a Waupun-based provider of packaging and labeling services.
Solar Bear Services LLCAir Pros LLCAir Pros LLC acquired Solar Bear Services LLC, a Miami Gardens-based plumbing, heating and air-conditioning contractor.
Asana Hospice & PalliativeAmedisys IncAmedisys Inc definitively agreed to acquire Asana Hospice & Palliative Care, a Fort Worth-based provider of home health care services.
MRK Industries IncArmstrong World Industries IncArmstrong World Industries Inc acquired MRK Industries Inc, a Libertyville-based manufacturer of sheet metal works. Financial terms of the transaction were not disclosed.
Nyhart Consulting LLCAscensus LLCAscensus LLC, a unit of Ascensus LLC SPV, has entered into an agreement to acquire Nyhart Consulting LLC, an Indianapolis-based provider of management consulting services, from Alliance Benefit Group. Financial terms were not disclosed.
Surety Solutions InsuranceAssuredPartners IncAssuredPartners Inc, a unit of Apax Partners LP, acquired Surety Solutions Insurance Services Inc, a Rancho Cordova-based insurance agency.
Central Maine & QuebecCanadian Pacific Railway LtdCanadian Pacific Railway Ltd of Canada have entered into an agreement to acquire Central Maine and Quebec Railway, a Bangor-based railroad operator, from Fortress Transportation & Infrastructure Investors LLC.
Edgemakers IncCoded MindsCoded Minds of United Arab Emirates acquired Edgemakers Inc, a San Francisco-based provider of computer training services.
First Savanna Savings BankCollins Community Credit UnionCollins Community Credit Union planned to acquire First Savanna Savings Bank, a Savanna-based commercial bank.
Hyatt Regency New OrleansERG Enterprises LLCERG Enterprises LLC acquired Hyatt Regency New Orleans, a New Orleans-based hotel operator.
Thrive GuadalupeFamily Service AgencyFamily Service Agency Of Santa Barbara merged with Thrive Guadalupe, a Guadalupe-based provider of individual and family services.
Quasar Distributors LLCForeside Financial Group LLCForeside Financial Group LLC, a unit of Lovell Minnick Partners LLC, planned to acquire Quasar Distributors LLC, a Milwaukee-based provider of financial investment services, from US Bancorp,Minneapolis,Minnesota.
Altucell IncGenerex Biotechnology CorpGenerex Biotechnology Corp of Canada acquired a 51% controlling interest in Altucell Inc, a Deerpark-based provider of biotechnology research and development services.
Service Express IncHarvest Partners LPHarvest Partners LP acquired Service Express Inc, a Grand Rapids-based provider of computer and office machine repair and maintenance services, from Pamlico Capital LLC, in a leveraged buyout transaction.
Jagged Peak IncID Logistics SAID Logistics SA of France acquired Jagged Peak Inc, a Tampa-based software publisher, from SP Jagged Peak LLC, ultimately owned by Singapore Post Ltd.
Utopia PipelineInvestor GroupAn investor group, comprised of Shinhan Investment Corp, a unit of Shinhan Financial Group Ltd, Samtan Co Ltd, EIP Investment Co Ltd, a unit of Energy Innovation Partners Inc and KDB Infrastructure Investments Asset Management Co Ltd, a unit of Korea Development Bank acquired a 50% interest in Utopia Pipeline, a Harrison-based provider of pipeline transportation services of crude oil, jointly owned by Riverstone Holdings LLC and Kinder Morgan Inc.
Richardson Group IncKartesia Advisor LLPKartesia Advisor LLP of the UK acquired Richardson Group Inc, a Philadelphia-based provider of management consulting services, from ClearLight Partners LLC.
Airborne Technologies IncKellstrom Defense AerospaceKellstrom Defense Aerospace Inc, a unit of Merex Inc, acquired Airborne Technologies Inc, a Camarillo-based manufacturer of aircraft parts and auxiliary equipment.
Spire Digital IncKin & Carta PLCKin & Carta PLC of the UK acquired Spire Digital Inc, a Denver-based provider of computer related services.
Novaria Group IncKKR & Co IncKKR & Co Inc agreed to acquire Novaria Group Inc, a North Richland Hills-based manufacturer of aircraft engines and engine parts, in a leveraged buyout transaction.
U Industrial Distn PropertyKKR & Co IncKKR & Co Inc acquired four unndisclosed Industrial Distribution Properties (4) located within Atlanta, Georgia, Inland Empire, California, and Orlando, Florida.
Milton Industries IncLevine Leichtman Cap Ptnrs IncLevine Leichtman Capital Partners Inc acquired Milton Industries Inc, a Chicago-based manufacturer of motor vehicle parts, from Crimson Investments Ltd.
AssuredPartners IncMack Mack & Waltz Ins Grp IncMack Mack & Waltz Insurance Group Inc acquired AssuredPartners Inc, a Lake Mary-based insurance agency, from Apax Partners LP, ultimately owned by Apax Partners LLP.
Jam TheatricalsNederlander Organization IncNederlander Organization Inc acquired Jam Theatricals, a Chicago-based theater company.
Power Partners IncPioneer Transformers LtdPioneer Transformers Ltd of Canada, a unit of Provident Pioneer Partners LP, acquired Power Partners Inc, an Athens-based manufacturer of power, distribution and specialty transformers, from OpenGate Capital LLC.
Boss Mnfng Co-OperationsProtective Industrial Prod IncProtective Industrial Products Inc planned to acquire gloves boots rainwear operations of Boss Manufacturing Co, a Kewanee-based manufacturer of gloves, ultimately owned by Boss Holdings Inc.
Built Strong Exteriors LLCRestoration Builders IncRestoration Builders Inc acquired Built Strong Exteriors LLC, an Oakdale-based roofing contractor.
Empyrean Benefit Solutions IncSecurian Financial Group IncSecurian Financial Group Inc, a unit of Minnesota Mutual Cos Inc, definitively agreed to acquire Empyrean Benefit Solutions Inc, a Houston-based provider of human resources and executive search consulting services.
First Advantage CorpSilver Lake Management LLCSilver Lake Management LLC (Silver Lake) definitively agreed to acquire an undisclosed majority interest in First Advantage Corp (First Advantage), an Atlanta-based provider of background screening, identity and information services, from Symphony Technology Group LLC, in a leveraged buyout transaction. Terms were not disclosed. Originally, in November 2019, Silver Lake was rumored to be planning to acquire First Advantage.
Paragon – Pharmacy BusinessSoleo Health Hldg IncSoleo Health Holdings Inc acquired the pharmacy business of Paragon Infusion Therapy, a Dayton-based outpatient care center operator.
MVB Bank-Banking Center(4),SCSummit Community Bank IncSummit Community Bank Inc planned to acquire 4 wv eastern panhandle banking centers of MVB Bank Inc, a Fairmont-based commercial bank, ultimately owned by MVB Financial Corp.
National Tree Co IncSun Capital Partners IncSun Capital Partners Inc acquired National Tree Co Inc, a Cranford-based flower, nursery stock and florists supplies merchant wholesaler.
Polymer Solutions Grp-DivisionThe Jordan Co LPThe Jordan Co LP acquired polymer additives division of Polymer Solutions Group, an Acworth-based manufacturer of plastics materials, ultimately owned by Arsenal Capital Partners LP, in a leveraged buyout transaction.
Allegiant Partners IncTokyo Century CorpTokyo Century Corp of Japan acquired Allegiant Partners Inc, a Bend-based provider of machinery and equipment rental and leasing services.
Envi Partners IncTRC Cos IncTRC Cos Inc, a unit of New Mountain Partners IV LP, acquired Environmental Partners Inc, an Issaquah-based provider of environmental consulting services. The terms of the agreement were not disclosed.
Tritec Seal LLCTrelleborg Sealing SolutionsTrelleborg Sealing Solutions of Germany, a unit of Trelleborg AB, acquired Tritec Seal LLC, a Fenton-based manufacturer of packing devices.
J-Line Pump CoWilo Usa LLCWilo Usa LLC, a unit of WILO SE, acquired J-Line Pump Co, a Collierville-based industrial machinery and equipment merchant wholesaler.
ZNLabs LLCZoetis IncZoetis Inc acquired ZNLabs LLC, a Louisville-based provider of veterinary services.