Deal Pipeline
Thursday 11 August 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-PHAROS CAPITAL ACQUIRES TELEPSYCHIATRY SERVICES FIRM FASPSYCH
US-based private equity firm Pharos Capital Group, LLC has acquired telepsychiatry services provider FasPsych, LLC, the firm said.
The acquisition was done in partnership with the company's founder, Ed Irby, who, along with the company's seasoned management team, rolled a significant equity stake in conjunction with the transaction.
Status: Closed

-VATTENFALL ACQUIRES 79-TURBINE GERMAN NORTH SEA WIND PROJECT
Swedish wind power company Vattenfall has acquired a wind development project consisting of up to 79 turbines in the German North Sea, the company said.
Vattenfall said the acquisition is in line with its growth strategy to extensively expand its renewable energy production in the coming years. The Global Tech II wind project is located in the German North Sea some 85 kilometres north of the island of Borkum. The project is currently under development with up to 79 wind turbines in an area of 47 square kilometres.
Status: Closed

-GOLD COAST SCHOOLS ACQUIRES BERT RODGERS SCHOOLS OF REAL ESTATE
Florida, US-based classroom and distance learning provider Gold Coast Schools has acquired Florida, US-based distance education provider Bert Rodgers Schools of Real Estate, the company said. Bert Rodgers provides education for real estate professionals headquartered in Sarasota.
Gold Coast Schools provides both traditional classroom and distance learning in the fields of real estate, appraisal, mortgage, insurance and construction education. The merger joins two of Florida's family-owned educational providers.
Status: Closed

-FRANKLIN STREET PROPERTIES ACQUIRES MIDTOWN ATLANTA OFFICE BUILDING FOR USD 45.5M
US-based REIT Franklin Street Properties Corp. (NYSE MKT: FSP) has acquired Pershing Park Plaza located in Atlanta, Georgia, the company said. Pershing Park Plaza is a nine-story Class "A" office building that contains approximately 160,000 rentable square feet and is strategically located in Midtown Atlanta.
The gross purchase price of Pershing Park Plaza was approximately USD 45.5m, or approximately USD 284 per rentable square foot. Franklin Street anticipates planned building capital investments (excluding leasing costs) of approximately USD 1.8m.
Status: Closed

-OMNIGUIDE ACQUIRES US LASER SURGICAL SYSTEM MAKER
US-based energy company OmniGuide Holdings, Inc has agreed to merge its OmniGuide, Inc flexible fiber CO2 laser surgery unit with Domain Surgical Inc., the company said. Domain Surgical is the maker of the FMX Ferromagnetic Surgical System, a surgical platform that uses ferromagnetic technology to precisely and safely cut, coagulate and seal tissue; with minimal injury to surrounding tissue as compared to other surgical technologies.
Despite advances in technology, surgical interventions can cause undesired collateral damage to healthy tissue, which can lead to post-operative pain, prolonged patient recovery and complications.
Status: Closed

-GUARANTY BANK AND TRUST CLOSES ACQUISITION OF 2ND DENTON, TEXAS OFFICE FROM INDEPENDENT BANK
US-based bank holding company Guaranty Bancshares, Inc. has closed the acquisition of a full-service location at 3101 Wind River Lane in Denton, Texas from Independent Bank, the company said.
Independent Bank has operated the full-service banking location since 2010. As a part of this transaction, Guaranty will assume certain deposits and acquire all of the fixed assets of that location.
Status: Closed

-SAMSUNG ELECTRONICS AMERICA TO ACQUIRE US HOME APPLIANCE FIRM DACOR
South Koran electronics company Samsung Electronics Co., Ltd.'s Samsung Electronics America unit has entered into a definitive agreement to acquire US-based luxury home appliance brand Dacor, the company said.
Terms of the deal were not disclosed. The Korea Economic Daily put the price at USD 150m, according to a Reuters report. The acquisition marks Samsung's continued investment in the home appliance market and an expansion of its portfolio to include ultra-premium home appliances under the Dacor brand.
Status: Agreed

-TRITAX BIG BOX REIT ACQUIRES AMAZON DISTRIBUTION CENTRE IN UK
UK-based Tritax Big Box REIT plc (LSE: BBOX) has acquired the distribution centre at Kingston Park, Peterborough, let to Amazon UK Services Ltd for a purchase price of GBP 42.9m (USD 55.87m), the company said.
The price reflects a net initial yield of 5.6% on the corporate acquisition. Tritax said that the purchase is being funded from equity proceeds, with senior debt finance expected to be introduced in the near term. This property is one of Amazon's major distribution centres in the UK, fulfilling general merchandise online orders and groceries throughout the UK and Europe.
Status: Closed

-UK CAR DEALER LOOKERS TO SELL PARTS DIVISION TO ALLIANCE AUTOMOTIVE FOR GBP 120M
UK-based car dealership chain Lookers plc (LSE: LOOK) has entered into a conditional agreement to sell its parts business to Alliance Automotive UK Ltd on a debt free and cash free basis, for a consideration of GBP 120m (USD 156.28m) payable in cash on completion, the company said.
The Parts Division is a distributor of automotive parts which includes brands such as BTN Turbo, FPS and Apec Braking. Alliance Automotive is part of Alliance Automotive Group, a major European distributor of automotive and commercial vehicle parts to the automotive aftermarket.
Status: Agreed

-CAVIUM EXTENDS USD 1.36M EXCHANGE OFFER FOR SHARES OF NETWORKING INFRASTRUCTURE SOLUTIONS FIRM QLOGIC
US-based semiconductor products company Cavium, Inc. (NASDAQ: CAVM) has extended the expiration date of its tender offer for all of the outstanding shares of networking infrastructure solutions provider QLogic Corp. (NASDAQ: QLGC), the company said.
The offer will now expire on 15 August. It had been scheduled to expire on 9 August. In June, Cavium entered into a definitive agreement to acquire networking infrastructure solutions provider QLogic Corp. (NASDAQ: QLGC) for approximately USD 15.50 per share.
Status: Agreed

-BLANK CHECK COMPANY BARINGTON/HILCO ACQUISITION EXTENDS DEAL DEADLINE
US-based blank check acquisition company Barington/Hilco Acquisition Corp. (NASDAQ: BHACU) has deposited USD 100,000 into its trust account held at Continental Stock Transfer and Trust Co for the benefit of its public stockholders in order to extend the date by which it must complete a business combination by three months, from August 11, 2016 to November 11, 2016, the company said.
Barington/Hilco said that the move is in accordance with the terms set forth in its IPO prospectus. In order to fund the deposit, the company has obtained loans from its sponsors, affiliates of both Barington Capital Group, L.P. and Hilco Global.
Status: Agreed

-PRESTON TO PAY USD 5M FOR GOLD PRODUCTION ROYALTY FROM ARIZONA MINE
US-based mining royalty financing company Preston Corp (OTC: PSNP) has agreed to purchase a royalty interest in the Arizona, US-based West Port Mine for USD 5m receiving a contractual 50% annual return on investment, the company said.
In June, Preston signed an agreement to acquire a gold production royalty from the Arizona mine through its exclusive agent Western Mine Development LLC, the company said. The project is the West Port Gold Mine located near Quartzite, Arizona and is a fully permitted placer-alluvial gold project, currently in the final stages of mine construction prior to commencing commercial gold production.
Status: Agreed

-OCEAN TOMO ACTS AS INTELLECTUAL PROPERTY ADVISOR TO VERIZON IN YAHOO ACQUISITION
US-based merchant banking firm Ocean Tomo LLC provided US-based broadband telecommunications company Verizon Communications Inc. (NYSE: VZ) with intellectual property advisory services in advance of the company's acquisition of US-based web portal and search company Yahoo! Inc. (NASDAQ: YHOO), the firm said.
Ocean Tomo provides companies with financial services related to intellectual property and intangible assets. Practice offerings include financial expert testimony, valuation, strategy consulting, investment advisory, innovation management consulting and transaction brokerage.‎ Last month, Verizon and Yahoo! entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately USD 4.83bn in cash.
Status: Agreed

-STATE, FEDERAL BANKING REGULATORS CLEAR CHEMICAL FINANCIAL TO CLOSE USD 1.4BN MERGER WITH CHEMICAL FINANCIAL
Michigan, US-based bank holding company Chemical Financial Corp has received regulatory approvals of the merger between Chemical and Michigan, US-based bank holding company Talmer Bancorp, Inc. (NASDAQ: TLMR) from the State of Michigan Department of Insurance and Financial Services and the board of Governors of the Federal Reserve System, the company said.
Chemical and Talmer previously received approval of the USD 1.4bn merger from their respective shareholders. The companies now expect that the closing of the merger will occur on 31 August 2016.
Status: Agreed

-BIOGEN TO SPIN-OFF HEMOPHILIA BUSINESS AS BIOVERATIV
US-based biotechnology company Biogen (NASDAQ: BIIB) will spin-out a new standalone, publicly-traded global biotechnology company called Bioverativ that it expects to launch in early 2017, the company said.
Biogen announced its intent to spin-off its hemophilia business in May 2016. Bioverativ will be focused on the discovery, research, development and commercialization of treatments for hemophilia and other blood disorders. Following completion of the spin-off, Bioverativ plans to trade under the symbol BIVV on the NASDAQ Stock Market.
Status: Agreed

-SHAREHOLDER PROXIES ISS, GLASS LEWIS RECOMMEND CHIPMOS SHAREHOLDERS SUPPORT MERGER
Proxy voting and corporate governance advisory firms Institutional Shareholder Services Inc. and Glass Lewis are recommending that shareholders of Bermuda-based outsourced semiconductor assembly and test services provider ChipMOS Technologies (Bermuda) LTD. (NASDAQ: IMOS) vote for the company's upcoming merger, the company said.
Under the deal, ChipMOS Technologies (Bermuda) LTD will merge with and into ChipMOS Technologies Inc. a company limited by shares incorporated under the laws of the Republic of China and a 58.3% directly owned subsidiary of ChipMOS as of 21 January 2016.
Status: Agreed
-LEGAL AND GENERAL TO SELL COFUNDS INVESTMENT PLATFORM TO AEGON FOR GBP 140M
UK-based insurer Legal and General Group Plc (LSE: LGEN) has agreed to sell UK investment platform Cofunds to Dutch insurer Aegon for GBP 140m (USD 182.32m), the group said. Cofunds is an investment platform for advisers and other financial institutions.
The acquisition is subject to regulatory approval, which is expected by December 2016. This sale includes the Investor Portfolio Service platform as well as Cofunds' retail and institutional business. All employees in Cofunds and IPS will be transitioned to Aegon.
Status: Agreed

-KLINE HILL PARTNERS FUND TO BUY UK INVESTMENT FIRM PEI FOR GBP 19.94M
UK-based private equity firm Kline Hill Partners LP's KHP Strategic 2 LP fund has agreed to buy UK-based investment company PEI, the firm said. Under the terms of the offer, PEI Shareholders will be entitled to receive 167.00 pence in cash for each PEI Share held, valuing the entire issued share capital of PEI at approximately GBP 19,949,017 (USD: 25.979m).
The consideration payable under the offer will be funded by KHP, acting by the general partner, from existing cash resources.
Status: Agreed

-SOUTH AFRICA'S STEINHOFF UPS OFFER FOR UK RETAILER POUNDLAND
The boards of South African retailer Steinhoff International Holdings N.V. and UK-based single price general merchandise retailer Poundland Group plc have agreed to revised and final terms of a recommended cash under which Steinhoff Europe AG will acquire the entire issued and to be issued share capital of Poundland, the companies said on Thursday.
Under the revised terms, each Poundland shareholder will be entitled to receive 227 pence in cash for each Poundland share held comprising 225 pence in cash for each Poundland share held by each Poundland shareholder and a final dividend of two pence per Poundland share. This deal values the entire issued and to be issued share capital of Poundland at approximately GBP 610.4m (USD 794.93m) on a fully diluted basis.
Status: Agreed

-BENCHMARK HOLDINGS BUYS SOUTH AMERICAN SHRIMP BREEDING PROGRAMME
UK-based aquaculture group Benchmark Holdings plc (LSE: BMK) has entered into a technology transfer agreement under which its Genética Spring S.A.S subsidiary will secure control over aquaculture breeding programmes previously owned and operated by Centro de Investigación de la Acuicultura de Colombia Ceniacua and acquire related business, freehold land, buildings and assets, for a total consideration of USD 2.17m (GBP 1.67m), the company said on Thursday.
Completion of the transaction is conditional upon certain legal formalities and is expected to occur before the end of August. The acquisition adds a third species, shrimp, to Benchmark's aquaculture breeding business in salmon and tilapia, and strengthens Benchmark's position in the shrimp industry.
Status: Agreed

-MANAGEMENT RESOURCE SOLUTIONS TO BUY ASSETS OF AUSTRALIAN MINING SERVICES FIRM SUBZERO
UK-based project management and services company Management Resource Solutions Plc (LSE: MRS) has entered into an exclusive agreement to acquire the core assets of Australian mining services business SubZero Group Ltd. for a total consideration of AUD 6.12m (USD 4.72m), the company said on Thursday.
The agreement will be on exclusive terms through until 30 September 2016 for total consideration of AUD 6.12 m, subject to certain key conditions being satisfied. There will be a cash payment of AUD 1m on settlement, and AUD 500,000 payable in cash 12 months after the date of completion.
Status: Agreed

-CHARTER SCHOOL CAPITAL ACQUIRES THREE SCHOOL FACILITIES FROM US DEVELOPER FOR USD 19.1M
US-based charter school funding provider Charter School Capital's facilities arm American Education Properties has acquired three charter school facilities from Utah-based charter school developer American Charter Development (ACD) for USD 19.1m, the company said.
Charter school facilities acquired include St. Cloud Preparatory Academy and San Jose Academy (USD 10.3m) and Preparatory High School (USD 3.9m) in Florida and High Point Academy in Texas for USD 4.9m. Under the terms of the deal, AEP will assume the current lease terms for all of the schools and will invest in facilities improvements and additions at two of the three properties.
Status: Closed

-BOOMTRAIN ACQUIRES INDIAN MESSAGING COMPANY NUDGESPOT
California-based artificial intelligence-driven marketing platform Boomtrain has agreed to acquire its partner, India-based messaging platform Nudgespot, the company said.
Nudgespot has built a messaging platform that will integrate into Boomtrain's technology to deliver a seamless experience for businesses to communicate with customers and visitors on websites and in mobile apps. Boomtrain and Nudgespot initially partnered nine months ago, and have been co-developing a product that combines Nudgespot's platform with Boomtrain's AI technology.
Status: Closed

-HUDDLE ACQUIRES TICKETING PLATFORM PREPTIX TO SERVE HIGH SCHOOL SPORTS MARKET
Alpharetta, Georgia-based marketing platform provider Huddle will merge with Birmingham, Alabama-based digital ticketing platform Preptix to create a ticketing solution for the high school sports market, the company said.
The combined company, Huddle, Inc., will be headquartered in Alpharetta, Georgia. The Huddle leadership team will remain intact, while Jay Barker and Patrick Noles from Preptix will assume senior roles at Huddle. Additionally, the NFHS Network has selected the merged company as its exclusive partner for a national rollout of a digital ticketing platform for high school sports.
Status: Agreed

-WELLSPRING CAPITAL TO SELL CUSTOM WHEELCHAIR SPECIALIST NATIONAL SEATING AND MOBILITY
New York-based private equity firm Wellspring Capital Management LLC has agreed to sell its portfolio company Tennessee-based adaptive seating system company National Seating and Mobility (NSM) to New York-based private equity and venture capital firm Court Square Capital Partners, the company said.
It is expected that the transaction will be completed within the next 60 days. Founded in 1992, NSM is a complex rehab technology provider, with client service facilities and regional processing centers from Hawaii to New England.
Status: Agreed

-GREENBACKER RENEWABLE ENERGY ACQUIRES CONTROLLING INTEREST IN US SOLAR PORTFOLIO FOR USD 19.75M
New York-based power plant operator Greenbacker Renewable Energy Co LLC has acquired a controlling interest in a 12.1mw portfolio of 1,611 solar systems called Greenbacker Residential Portfolio #1 from a subsidiary of San Diego, California-based solar provider OneRoof Energy, Inc. for approximately USD 19.75m, the company said.
The systems are located on residential rooftops across California, New Jersey, Massachusetts, Maryland, New York, Hawaii and Connecticut. Under the terms, Greenbacker was made managing member of Greenbacker Residential Portfolio #1 and OneRoof will retain a residual interest and continue to perform general operation and maintenance functions.
Status: Closed

-GOLUB CAPITAL PROVIDES FINANCING FOR LINDEN CAPITAL PARTNERS' ACQUISITION OF PINNACLE TREATMENT CENTERS
New York-based private equity and venture capital firm Golub Capital has provided Golub Capital One-Loan Debt (GOLD) financing to Chicago-based private equity firm Linden Capital Partners to finance its acquisition of New Jersey-based substance abuse treatment services provider Pinnacle Treatment Centers, Inc., the company said.
Pinnacle provides services to individuals that are addicted to drugs and/or alcohol. Founded in 2006, Pinnacle has grown to more than 30 facilities across five states and offers a full continuum of care, including detoxification, residential, outpatient, and transitional living programmes.
Status: Closed

-EDUCATION FIRM GENERAL ASSEMBLY ACQUIRES CANADIAN CAREER ACCELERATOR BITMAKER
New York-based education-to-employment company General Assembly has acquired Toronto, Canada-based tech and design career accelerator, Bitmaker, the company said.
Bitmaker is a career accelerator with more than 1,000 course graduates and more than 15,000 community members. The company's team, including CEO and Founder Andrew Mawer, will remain in place and continue to lead Bitmaker's growth, as a subsidiary of General Assembly.
Status: Closed

-DOS RIOS PARTNERS FINANCES FAMILY ER + URGENT CARE'S ACQUISITION OF TWO TEXAS ER CENTRES
Texas-based private-equity firm Dos Rios Partners has partnered with Texas-based healthcare facility Family ER + Urgent Care to acquire two Texas-based emergency care centers, Texas Emergency Care Centers and ER Centers of America, the company said.
The combined company will have six facilities in the Dallas, Houston and Lubbock metropolitan areas; five offering emergency room services and one offering both emergency room and urgent care services. Each of the company's facilities will continue to operate under their current names.
Status: Closed

-IPC OF TEAMHEALTH ACQUIRES OUTSOURCED ER OPERATOR SIGNATURE HEALTHCARE
Tennessee-based outsourced healthcare staffing provider IPC of TeamHealth (NYSE: TMH) has acquired the operations of Chicago, Illinois-based acute care hospital medicine provider Signature Healthcare Solutions, the company said.
Signature Healthcare Solutions partners with four hospitals in the Chicago market, and through its contracts, provides care for more than 19,000 patients each year.
Status: Closed

-MALLINCKRODT TO ACQUIRE REGENERATIVE MEDICINE COMPANY STRATATECH
UK-based pharmaceutical company Mallinckrodt plc (NYSE: MNK) has agreed to merge with Wisconsin-based regenerative medicine company Stratatech Corp., the company said.
Stratatech engages in the development and commercialisation of cell-based and tissue-engineered skin substitute products for therapeutic and research applications. The company specialises in human tissue substitutes generated with NIKS keratinocytes and cells derived from them for biological therapies.
Status: Agreed

-DORIEMUS ACQUIRES 5% OF ISLE OF WIGHT OIL AND GAS LICENSE
UK-based oil and gas exploration company Doriemus plc (ISDX: DOR) has agreed to acquire all rights UK-based onshore oil and gas development company Angus Energy Holdings UK Ltd has in respect of its 5% legal and beneficial interest in the 200 square kilometre onshore Isle of Wight oil and gas licence (PEDL 331), the company said.
This will be acquired together with all of Angus' rights in respect of its 5% interest in the joint operating agreement to be entered into between UK-based investment company UK Oil and Gas Investments plc (LON: UKOG), UK-based oil and gas investment company Solo Oil plc (LON: SOLO) and Angus.
Status: Agreed

-SENSIBA SAN FILIPPO ACQUIRES CALIFORNIA CONSULTING BOUTIQUE
California-based consulting firm Sensiba San Filippo LLP has acquired California-based boutique sized consulting firm The Resultants, Inc., the company said.
With this acquisition Sensiba San Filippo' looks to expand its consulting practice and grow their presence in the publicly held company space. The Resultants team will be integrated into the Corporate Governance and Compliance Consulting Practice led by SSF Partner, Frank Balestreri.
Status: Closed

-HARTMAN INCOME REIT MANAGEMENT SELLS DALLAS OFFICE PROPERTY TO MEGACHURCH
Texas-based property management company Hartman Income REIT has sold its Park Central property in Dallas, Texas to Dallas-based megachurch Watermark Community Church, the company said.
Terms of the sale were not disclosed, but Hartman said the property was sold for a gain over the purchase price. Watermark Community Church, which occupies two adjoining buildings of the property, plans to use parts of the Park Central I building for meeting space and other functions.
Status: Closed

-ROYSTON GROUP SELLS OHIO, US RETAIL BUILDING FOR USD 930,000
California-based real estate firm Royston Group has represented the seller of a single-tenant retail building in Ottawa, Ohio, for USD 930,000, the company said.
The 7,000 square foot building is leased on a long term basis to Advance Auto Parts. Royston Group president Greg Cortese and vice president Rob Sutton represented the seller in the transaction. After a lengthy marketing process a suitable buyer was selected with the condition that the lease with Advance Auto be extended.
Status: Closed

-MESA LABS ACQUIRES COLD CHAIN PACKAGING CAPABILITIES FROM CANADA'S RAPID AID
Colorado-based quality control instruments maker Mesa Laboratories, Inc. (NASDAQ: MLAB) has acquired certain assets and liabilities of Canada-based hot-cold therapy products maker Rapid Aid Corp by the company's subsidiary, Canada-based cold chain products maker Mesa Canada, Inc, the company said.
Rapid Aid was the company's exclusive supplier of cold chain packaging gel products (CC Gels). The acquisition is expected to add approximately 550 basis points to Mesa's Cold Chain Packaging Division gross profit margin and to be neutral to diluted net income per share (EPS) during the first 12 months.
Status: Closed

-KIBO, LAKE VICTORIA GOLD AGREE TO CONSOLIDATE IMWERU, IMWELO GOLD PROJECTS
Ireland-based mineral exploration and development company Kibo Mining plc (AIM: KIBO) has signed a share purchase agreement to effect the consolidation of Imweru and Imwelo gold projects, the company said.
Under the agreement, UK-based Sloane Investments Ltd., a wholly owned subsidiary of the company, will acquire Tanzania-based gold exploration company Tanzoz Minerals Ltd. (TML), a wholly owned subsidiary of Australia-based gold mining company Lake Victoria Gold.
Status: Agreed

-AGILENT TECHNOLOGIES BUYS LAND; WILL BUILD NEW PHARMACEUTICAL MANUFACTURING PLANT
US-based life sciences company Agilent Technologies Inc. (NYSE: A) has acquired 20 acres in Weld County, Colorado, on which it plans to build a pharmaceutical manufacturing facility, the company said.
The expansion will enable the company to more than double its commercial manufacturing capacity for nucleic acid active pharmaceutical ingredients. Upstate Colorado coordinated the project with the town of Frederick, Weld County and the state of Colorado to accommodate the needs of Agilent.
Status: Closed

-NORWEGIAN CHEMICALS FIRM YARA ACQUIRES TATA'S INDIAN UREA BUSINESS FOR USD 400M
Norway-based chemical company Yara International ASA has entered into an agreement to acquire the Mumbai, India-based inorganic chemicals manufacturer Tata Chemicals Ltd Babrala urea plant and distribution business in Uttar Pradesh, India for USD 400m, the company said.
The plant has an annual production of 0.7m tons ammonia and 1.2m tons urea, and generated revenues and EBITDA of respectively USD 350m and USD 35m in the financial year ended 31 March 2016. This plant was commissioned in 1994, and is the most energy efficient plant in India, with energy efficiency on a par with Yara's best plants.
Status: Agreed

-UNITED NATURAL FOODS ACQUIRES US DISTRIBUTOR GOURMET GURU
Norway-based chemical company Yara International ASA has entered into an agreement to acquire the Mumbai, India-based inorganic chemicals manufacturer Tata Chemicals Ltd Babrala urea plant and distribution business in Uttar Pradesh, India for USD 400m, the company said.
The plant has an annual production of 0.7m tons ammonia and 1.2m tons urea, and generated revenues and EBITDA of respectively USD 350m and USD 35m in the financial year ended 31 March 2016. This plant was commissioned in 1994, and is the most energy efficient plant in India, with energy efficiency on a par with Yara's best plants.
Status: Closed

-JAMES FISHER AND SONS ACQUIRES UK-BASED HUGHES MARINE ENGINEERING FOR USD 11.66M
UK-based marine engineering services company James Fisher and Sons Plc has acquired all share capital of UK-based holding company Hughes Marine Engineering Ltd., which owns UK-based diving operations company Hughes Sub Surface Engineering Ltd.
The initial consideration is USD 11.66m (GBP 9.0m) in cash, with further future consideration of up to USD 1.3m (GBP 1.0m) subject to certain profit targets being met by 28 February 2017. Hughes Sub Surface's profit before taxation for the 12 months to end April 2016 was GBP 1.6m (unaudited).
Status: Closed