Dealmaking flattened in December, with the month yielding about the same volume as November. (See related charts.) This is a departure from the year-end flurry of activity we’ve seen the last several years.
The dip in dealmaking did not dampen expectations for 2015, however. An impressive 70 percent of transaction pros polled by Mergers & Acquisitions in December said they expect deal flow to increase in 2015.
One of the most interesting transactions to close in December was Yahoo Inc.’s $640 million purchase of video-advertising service BrightRoll Inc.
“Video, along with mobile, social, and native, is driving a surge in digital advertising,” said Yahoo CEO Marissa Mayer when the deal was announced in November. “Here at Yahoo, video is one of the largest growth opportunities.”
Below is a list of selected middle-market M&A deals completed in December 2014. For more, see December Did Not Deliver Traditional Year-End Boost.
Editor’s Note: To measure activity in the middle market, Mergers & Acquisitions looks at transactions that fulfill several requirements: Deals must have a value of roughly $1 billion or less; they must be completed (not just announced) within the timeframe designated; and they must include at least one U.S. company in the role of buyer and/or seller. Excluded from our charts are: recapitalizations; self-tenders; exchange offers; repurchases; stake purchases; and transactions with undisclosed values, buyers or sellers. Our data provider is Thomson Reuters, which updates its databases continuously. We use the data available at press time. For this article, data was collected on Dec. 31, 2014.
Date | Acquirer | Target | Target Industry | Value ($mil) |
---|---|---|---|---|
12/19/14 | UBM PLC | Advanstar Inc | Amusement and Recreation Services | 972.0 |
12/16/14 | Churchill Downs Inc | Big Fish Games Inc | Prepackaged Software | 900.0 |
12/01/14 | CCMP Capital Advisors LLC | Rhodia Eco Services | Chemicals and Allied Products | 890.0 |
12/01/14 | ONEOK Partners LP | Chevron Corp-Natural Gas | Electric, Gas, and Water Distribution | 800.0 |
12/15/14 | Yahoo! Inc | BrightRoll Inc | Business Services | 640.0 |
12/01/14 | Pfizer Inc | Baxter Intl Inc-Coml Vaccines | Drugs | 635.0 |
12/09/14 | Parkway Properties Inc | Corporate Ctr I,II & III | Real Estate; Mortgage Bankers and Brokers | 475.0 |
12/12/14 | Murata Electronics | Peregrine Semiconductor Corp | Electronic and Electrical Equipment | 465.5 |
12/01/14 | Ares Management LP | Farrow & Ball Ltd | Chemicals and Allied Products | 432.7 |
12/23/14 | Koch Optics Inc | Oplink Communications Inc | Communications Equipment | 428.2 |
12/11/14 | Mobile Mini Inc | Evergreen Tank Solutions Inc | Business Services | 405.0 |
12/22/14 | Investor Group | Pike Corp | Construction Firms | 384.9 |
12/08/14 | Potlatch Forest Holdings Inc | Resource Mgmt-Industrial | Agriculture, Forestry, and Fishing | 384.0 |
12/12/14 | Abbott Laboratories | GardenHills | Drugs | 379.2 |
12/18/14 | Merck & Co Inc | OncoEthix SA | Drugs | 375.0 |
12/17/14 | The Mosaic Co | ADM-Fertilizer Business | Chemicals and Allied Products | 350.0 |
12/17/14 | Southside Bancshares,Tyler,TX | OmniAmerican Bancorp Inc | Savings and Loans, Mutual Savings Banks | 310.3 |
12/18/14 | Aviv REIT Inc | Diamond Senior Living-Ppty(28) | Health Services | 305.0 |
12/16/14 | Constellation Brands Inc | Anheuser-Busch Inbev-Glass | Stone, Clay, Glass, and Concrete Products | 300.0 |
12/05/14 | Tecomet Inc | Symmetry Medical Inc | Measuring, Medical, Photo Equipment; Clocks | 281.6 |
12/02/14 | Alico Inc | Orange-Co LP-Certain Assets | Agriculture, Forestry, and Fishing | 274.0 |
12/15/14 | PerkinElmer Inc | Perten Instruments AB | Measuring, Medical, Photo Equipment; Clocks | 266.0 |
12/01/14 | Watts Water Technologies Inc | AERCO International Inc | Metal and Metal Products | 264.5 |
12/02/14 | Progress Software Corp | Telerik AD | Prepackaged Software | 262.5 |
12/18/14 | Pebblebrook Hotel Trust | Northwood Investors LLC-Revere | Hotels and Casinos | 260.4 |
12/22/14 | Abbott Laboratories | Topera Inc | Measuring, Medical, Photo Equipment; Clocks | 250.0 |
12/01/14 | Salmon Real Estate Ltd | Illius Properties Ltd | Investment & Commodity Firms,Dealers,Exchanges | 247.8 |
12/17/14 | Investor Group | Primary Energy Recycling Corp | Electric, Gas, and Water Distribution | 247.1 |
12/05/14 | Madison International Realty | Houndsditch Estate | Investment & Commodity Firms,Dealers,Exchanges | 244.7 |
12/17/14 | Susser Petroleum Partners LP | Aloha Petroleum Ltd | Wholesale Trade-Nondurable Goods | 240.0 |
12/29/14 | CNL Healthcare Properties Inc | Medical Office Buildings(9) | Real Estate; Mortgage Bankers and Brokers | 238.0 |
12/12/14 | BAE Systems PLC | SilverSky Inc | Prepackaged Software | 232.5 |
12/16/14 | M/A-COM Technology Hldg | BinOptics Corp | Electronic and Electrical Equipment | 230.0 |
12/10/14 | Investor Group | Gila River Power LLC-Gila | Electric, Gas, and Water Distribution | 219.0 |
12/04/14 | Tiptree Financial Inc | Fortegra Financial Corp | Insurance | 212.0 |
12/16/14 | Newell Rubbermaid Inc | Baby Jogger LLC | Miscellaneous Manufacturing | 210.0 |
12/11/14 | MetLife Inc | Fairmont Hotel,Washington,DC | Hotels and Casinos | 180.0 |
12/22/14 | Investor Group | GID-Residential Portfolio(2) | Real Estate; Mortgage Bankers and Brokers | 178.5 |
12/08/14 | Independence Realty Operating | Brookside CRA-B1 Oxmoor | Real Estate; Mortgage Bankers and Brokers | 162.4 |
12/19/14 | Sichuan Xinglida Grp Entrp Co | Los Angeles Airport Marriott | Hotels and Casinos | 160.0 |
12/22/14 | Polymer Additives Inc | Ferro Corp-Polymer Additives | Chemicals and Allied Products | 154.0 |
12/23/14 | Port of Call Online Inc | Purebase Inc | Mining | 153.0 |
12/10/14 | Veritas Capital Partners LP | EMCORE Corp-Photovoltaics Bus | Electronic and Electrical Equipment | 150.0 |
12/11/14 | PBF Logistics LP | PBF Energy Inc-Toledo Storage | Real Estate; Mortgage Bankers and Brokers | 150.0 |
12/04/14 | Veeco Instruments Inc | Solid State Equipment LLC | Machinery | 150.0 |
12/04/14 | DiamondRock Hospitality Co | The Win Beach Resort & Spa, FL | Hotels and Casinos | 149.0 |
12/04/14 | Acadia Realty Trust | Magnificent Mile | Real Estate; Mortgage Bankers and Brokers | 144.3 |
12/09/14 | Strategic Hotels & Resorts Inc | Four Seasons Resort | Hotels and Casinos | 140.0 |
12/05/14 | Aurobindo Pharma USA Inc | Natrol Inc | Drugs | 132.5 |
12/12/14 | Smith & Wesson Holding Corp | Battenfeld Technologies Inc | Miscellaneous Manufacturing | 130.5 |
12/04/14 | Tres Palacios Holdings LLC | Tres Palacios Gas Storage LLC | Transportation and Shipping (except air) | 130.0 |
12/18/14 | The Howard Hughes Corp | Gen Growth Ppty Inc-Columbia | Real Estate; Mortgage Bankers and Brokers | 130.0 |
12/05/14 | HIG Capital LLC | Grocery Store Portfolio | Retail Trade-Food Stores | 122.9 |
12/16/14 | Pantzer Properties Inc | The Crest at Fort Lee,Fort | Real Estate; Mortgage Bankers and Brokers | 120.0 |
12/15/14 | Vonage Holdings Corp | Telesphere Networks Ltd | Telecommunications | 114.6 |
12/16/14 | Cubic Corp | DTECH LABS Inc | Communications Equipment | 114.5 |
12/30/14 | Dunn Paper Inc | Clearwater Paper Corp-Business | Paper and Allied Products | 113.5 |
12/22/14 | Lone Star Real Estate Fund III | Moorfield Grp - Real Estate | Real Estate; Mortgage Bankers and Brokers | 109.1 |
12/02/14 | Ferro Corp | Vetriceramici SpA | Chemicals and Allied Products | 106.5 |
12/01/14 | 1st Enterprise Bk,Los Angeles, | California United Bk,Encino,CA | Commercial Banks, Bank Holding Companies | 103.4 |
12/24/14 | Atlantic Tele-Network Inc | Green Lake Capital LLC | Electric, Gas, and Water Distribution | 103.0 |
12/17/14 | Turnbridge Capital LLC | Cimarron Energy Inc | Machinery | 100.0 |
12/01/14 | Rentrak Corp | Kantar Media-TV Measurement | Business Services | 98.0 |
12/04/14 | Millennial Media Inc | Nexage Inc | Advertising Services | 88.0 |
12/01/14 | Nexstar Broadcasting Group Inc | Grant Co Inc | Radio and Television Broadcasting Stations | 87.5 |
12/19/14 | Meredith Corp | WALA-TV,Mobile,Alabama | Radio and Television Broadcasting Stations | 86.0 |
12/30/14 | Rosebud Mining Co | AMFIRE Mining Co LLC-Assets | Mining | 86.0 |
12/19/14 | Corporate Ppty Assoc 18-Global | City Center Office Towers | Real Estate; Mortgage Bankers and Brokers | 84.4 |
12/02/14 | Sphere 3D Inc | Overland Storage Inc | Computer and Office Equipment | 81.9 |
12/03/14 | Recall Holdings Ltd | Business Records ManagementLL | Business Services | 77.0 |
12/02/14 | CRH Medical Corp | Gastroenterology Anesthesia | Health Services | 73.2 |
12/01/14 | Crawford & Co | GAB Robins UK Ltd | Insurance | 72.1 |
12/28/14 | Pohlad Family Cos | Polaroid Corp | Measuring, Medical, Photo Equipment; Clocks | 70.0 |
12/01/14 | Berkeley Aluminum Inc | Alumax of South Carolina Inc | Metal and Metal Products | 67.5 |
12/01/14 | Century Aluminum Co | Mt Holly Alum Smelter,SC | Metal and Metal Products | 67.5 |
12/22/14 | A Soriano Corp | Phelps Dodge Intl Corp | Metal and Metal Products | 67.0 |
12/19/14 | LaSalle Hotel Properties | Heathman Hotel,Portland,Oregon | Hotels and Casinos | 64.3 |
12/16/14 | Evolva Holding SA | Allylix Inc | Chemicals and Allied Products | 61.0 |
12/08/14 | First Midwest Bancorp Inc | Great Lakes Finl Resources Inc | Commercial Banks, Bank Holding Companies | 60.0 |
12/08/14 | Sprague Operating Resources | Castle Oil Corp-Assets | Miscellaneous Retail Trade | 56.0 |
12/01/14 | John Bean Technologies Corp | Wolf-tec Inc | Machinery | 54.0 |
12/10/14 | TriGate Capital LLC | Project Dvlp Svcs Inc-Natl | Real Estate; Mortgage Bankers and Brokers | 53.0 |
12/11/14 | Pebblebrook Hotel Trust | Union Stn Hotel,Nashville,TE | Hotels and Casinos | 52.3 |
12/05/14 | Accel-KKR LLC | Ektron Inc | Prepackaged Software | 52.0 |
12/04/14 | Ivy Equities Management Inc | Quorum Business Center | Real Estate; Mortgage Bankers and Brokers | 51.0 |
12/01/14 | BNC Bancorp,Thomasville,NC | Harbor Bank Group Inc | Commercial Banks, Bank Holding Companies | 50.6 |
12/01/14 | PolyOne Corp | Accella Performance Mat-assets | Chemicals and Allied Products | 49.0 |
12/04/14 | Hays PLC | Veredus Corp | Business Services | 44.0 |
12/02/14 | Shenzhen O-film Tech Co Ltd | DigitalOptics Corp-Equip Asts | Electronic and Electrical Equipment | 39.5 |
12/10/14 | CBRE Global Investors | BPH FIZ-Ideal Idea Park | Real Estate; Mortgage Bankers and Brokers | 39.3 |
12/01/14 | Altus Group Ltd | SC&H Group-SALT Practice | Personal Services | 38.0 |
12/19/14 | TPA Group | California State Teachers-Bldg | Real Estate; Mortgage Bankers and Brokers | 38.0 |
12/23/14 | J Rettenmaier & Soehne GmbH | SunOpta Inc-Fiber & Starch Bus | Food and Kindred Products | 37.5 |
12/25/14 | Ahana Operations LLC | Green-Solar Power Plant Asts | Electric, Gas, and Water Distribution | 36.5 |
12/11/14 | John Wood Group PLC | Swaggart Brothers Inc | Construction Firms | 36.3 |
12/11/14 | Emdeon Inc | Adminisource Commun Inc | Prepackaged Software | 35.0 |
12/01/14 | Northstar Healthcare Inc | Athas Health LLC | Business Services | 34.5 |
12/09/14 | The Carlyle Group LP | Newgen Knowledge Works Pvt Ltd | Business Services | 32.8 |
12/19/14 | Kite Realty Group Trust | Rampart Commons,Las Vegas | Real Estate; Mortgage Bankers and Brokers | 32.3 |
12/23/14 | AlphaPoint Technology Inc | N'Compass Solutions Inc | Prepackaged Software | 32.0 |
12/08/14 | Verisk Analytics Inc | Maplecroft.NET Ltd | Investment & Commodity Firms,Dealers,Exchanges | 31.7 |
12/17/14 | Trinity Quorum Center LLC | Quorum Ctr Assocaites | Real Estate; Mortgage Bankers and Brokers | 31.0 |
12/12/14 | Fox Factory Holding Corp | Race Face Performance Prod Inc | Transportation Equipment | 30.0 |
12/01/14 | Janus Capital Group Inc | VS Holdings Inc | Investment & Commodity Firms,Dealers,Exchanges | 30.0 |
12/11/14 | Vitec Group PLC | SmallHD | Measuring, Medical, Photo Equipment; Clocks | 30.0 |
12/02/14 | Northrim Capital Investment Co | Residential Mortgage Holding | Real Estate; Mortgage Bankers and Brokers | 29.8 |
12/02/14 | Shred-It International Inc | Iron Mtain Inc-Intl Shredding | Business Services | 29.8 |
12/17/14 | WP Carey Inc | Light-industrial&Distn Ctr, | Real Estate; Mortgage Bankers and Brokers | 29.4 |
12/05/14 | Apollo Global Inc | Sociedade Tecnica Educ SA | Educational Services | 28.5 |
12/08/14 | Salisbury Bancorp Inc | Riverside Bank | Commercial Banks, Bank Holding Companies | 28.0 |
12/22/14 | Assisted Living Concepts LLC | LTC Ppty Inc-Assisted Living | Health Services | 26.5 |
12/17/14 | Center Management Group LLC | Runnells Specialized Hospital | Health Services | 26.0 |
12/19/14 | Manitex International Inc | ASV Inc | Machinery | 25.0 |
12/22/14 | AMN Healthcare Services Inc | Avantas LLC | Prepackaged Software | 25.0 |
12/23/14 | Carter/Validus Operating | New England Sinai Med Ctr | Health Services | 23.4 |
12/08/14 | Menlo Equities LLC | Parallel Capital Partners-Offi | Real Estate; Mortgage Bankers and Brokers | 22.0 |
12/15/14 | Zhen Fa New Energy(US)Co Ltd | STR Holdings Inc | Rubber and Miscellaneous Plastic Products | 21.7 |
12/04/14 | Park-Ohio Holdings Corp | SAET SpA | Machinery | 20.8 |
12/21/14 | Hertz Investment Group | South Pointe Business Park | Real Estate; Mortgage Bankers and Brokers | 20.5 |
12/02/14 | EnerNOC Inc | Pulse Energy Inc | Prepackaged Software | 19.5 |
12/01/14 | Stratex Oil & Gas Holdings Inc | Richfield Oil & Gas Co | Oil and Gas; Petroleum Refining | 18.1 |
12/18/14 | IDT Australia Ltd | US Generic Drug Products(23) | Drugs | 18.0 |
12/22/14 | Points International Ltd | Crew Mktg Intl Inc | Business Services | 17.8 |
12/03/14 | Lodging Hospitality Mgmt Corp | Hilton Garden Inn,St | Hotels and Casinos | 17.0 |
12/08/14 | Rexford Industrial Realty Inc | Industrial Ppty(2),Fontana,CA | Real Estate; Mortgage Bankers and Brokers | 16.7 |
12/15/14 | Clean Earth Inc | AES Environmental LLC | Sanitary Services | 16.6 |
12/09/14 | Vertex Energy Inc | Heartland Group Holdings LLC | Transportation and Shipping (except air) | 16.5 |
12/16/14 | NESCO Inc | Callos Management Co Inc | Business Services | 16.0 |
12/15/14 | Springwater Capital LLC | Sarenet SA | Business Services | 15.9 |
12/09/14 | MVP REIT Inc | Mabley Place Garage LLC | Repair Services | 15.0 |
12/08/14 | Inland Real Estate Income | Dixie Valley Shopping Center | Real Estate; Mortgage Bankers and Brokers | 13.6 |
12/03/14 | Lodging Hospitality Mgmt Corp | Hilton Gardens Inn,O Fallon,MO | Hotels and Casinos | 13.5 |
12/10/14 | Synergetics Surgical EU Ltd | Sterimedix Ltd | Measuring, Medical, Photo Equipment; Clocks | 13.5 |
12/05/14 | Mackinac Financial Corp | Peninsula Financial Corp | Commercial Banks, Bank Holding Companies | 13.3 |
12/01/14 | HEXPOL AB | Portage Precision Polymers Inc | Rubber and Miscellaneous Plastic Products | 13.2 |
12/22/14 | Cerberus Capital Management LP | SAREB-Bad Debt Portfolio | Credit Institutions | 11.4 |
12/03/14 | NewNet Commun Tech LLC | Volt Delta Resources LLC | Business Services | 10.0 |
12/10/14 | Sentio Healthcare Properties | Spring Village of Wildewood | Real Estate; Mortgage Bankers and Brokers | 9.7 |
12/12/14 | Miller Energy Resources Inc | Savant Alaska LLC | Oil and Gas; Petroleum Refining | 9.0 |
12/17/14 | Yext Inc | Inner Balloons BV | Business Services | 8.0 |
12/11/14 | First American Bank Corp | Bank of Coral Gables,Coral | Commercial Banks, Bank Holding Companies | 7.5 |
12/29/14 | Luminous Glory Ventures Ltd | Hwa Woei(Cayman)Laminate Corp | Metal and Metal Products | 7.4 |
12/19/14 | CareTrust REIT Inc | Prelude Homes,Svcs-Woodbury | Social Services | 7.2 |
12/02/14 | Pioneer Power Solutions Inc | Titan Energy Worldwide Inc | Electric, Gas, and Water Distribution | 6.8 |
12/19/14 | Mount Kellet Capital Mgt LP | In-Rel Properties-Grand Twin | Real Estate; Mortgage Bankers and Brokers | 6.8 |
12/23/14 | Jubilant Life Sciences Hldgs | Cadista Holdings Inc | Investment & Commodity Firms,Dealers,Exchanges | 6.2 |
12/16/14 | Clearstar Inc | SingleSource Services Corp | Business Services | 4.0 |
12/05/14 | Cypress Energy Partners LP | SBG Energy Svcs LLC-facility | Sanitary Services | 2.6 |
12/09/14 | Cello Group PLC | Worlwide Promedica Inc | Business Services | 2.5 |
12/12/14 | FONU2 Inc | Studioplex City LLC | Business Services | 2.5 |
12/19/14 | Mincon Group PLC | Mincon Rockdrills USA Inc | Metal and Metal Products | 2.4 |
12/22/14 | Broadtree Homes Inc | Dominion Ppty-Single-Family | Real Estate; Mortgage Bankers and Brokers | 2.0 |
12/16/14 | International Gold Corp | Lode Star-Nevada Goldfield | Mining | 2.0 |
12/17/14 | iMD Cos Inc | Freedom Seed & Feed LLC | Agriculture, Forestry, and Fishing | 2.0 |
12/23/14 | CIAO Group Inc | Money Access International Inc | Business Services | 1.9 |
12/19/14 | DiCentral Corp | Logitek Tech-Electn Data | Business Services | 1.9 |
12/10/14 | Cloudstream Belmont Lake LP | Lexaria Corp-Belmont Lake Oil | Oil and Gas; Petroleum Refining | 1.4 |
12/01/14 | Professional Diversity Network | Global Outreach Ventures Inc | Business Services | 1.0 |
12/22/14 | Social Reality Inc | Five Delta Inc | Advertising Services | 0.8 |
12/17/14 | Hydra-Power Systems Inc | A Image Rlty LLC-Facility | Transportation and Shipping (except air) | 0.7 |
12/01/14 | Cardiff International Inc | Pitbull Containers Inc | Metal and Metal Products | 0.5 |
12/16/14 | US Geothermal Inc | Earth Power Resources Inc | Electric, Gas, and Water Distribution | 0.3 |
12/10/14 | CIAO Group Inc | Image Access Inc | Telecommunications | 0.3 |
12/22/14 | Hillcrest Resources Ltd | Gulfsands Petroleum USA Inc | Oil and Gas; Petroleum Refining | 0.1 |
Source: Thomson Reuters | ||||