Deal Pipeline
Wednesday 15 June 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-OCTOPUS TAKES 12.3% STAKE IN UK INVESTMENT BANK CLEARLYSO
UK fund management company Octopus has taken a 12.3% stake in European investment bank ClearlySo as part of a GBP 1.25m (USD 1.77m) growth funding round, the company said.
Octopus is the largest provider of venture capital trusts in the UK. It will become the largest single institutional investor in the firm and Octopus co-founder Chris Hulatt will join the ClearlySo board as a non-executive director.
Status: Closed

-FICO TO OFFER "ENTERPRISE SECURITY SCORE" FOLLOWING QUADMETRICS ACQUISITION
US-based predictive analytics and credit scoring company FICO (NYSE: FICO) has acquired US-based security specialist QuadMetrics, the company said.
QuadMetrics uses predictive analytics to rate the security of an organisation. The company's products will complement FICO Falcon Cybersecurity Analytics threat detection solution.
Status: Closed

-CIRCA ACQUIRES ONLINE AUCTION HOUSE HAMPTON ESTATE AUCTION
US-based jewelry buyer Circa Inc. has acquired online auction house Hampton Estate Auctions, the company said.
Hampton has been operating for the past three years specialising in jewelry, watches, coins and silver. Prior to the acquisition, Hampton was owned and operated by Vadim Krivitsky and associates, located in Lahaska, Pennsylvania.
Status: Closed

-VFO ACQUIRES SCREEN MAGNIFICATION SOFTWARE FIRM AI SQUARED
US-based assistive technology provider VFO has acquired screen magnification and screen reading software developer Ai Squared, the company said.
Combined, the companies will offer an enhanced suite of assistive technology products for the visually-impaired.
Status: Closed

-ALDER KOTEN ACQUIRES HOUSTON MANAGEMENT CONSULTING FIRM
US-based consulting firm Alder Koten has acquired Houston-based management consulting firm OCE Consulting, the firm said.
OCE Consulting's list of clients includes a range of companies in different industries and regions of the world including industrial conglomerates, manufacturers, energy companies, and financial institutions. As part of the integration Ricardo Monardez, OCE Consulting's managing director, will join Alder Koten as the managing partner for Alder Koten Advisory.
Status: Closed

-SUPERIOR CAPITAL PARTNERS SELLS US FROZEN DESSERT FIRM DIANNE'S
US-based private equity firm Superior Capital Partners, LLC has sold its portfolio company, US-based frozen dessert company Dianne's Fine Desserts, to an affiliate of Geneva Glen Capital, the firm said.
Based in Newburyport, Massachusetts, Dianne's is a provider of premium frozen thaw-and-serve desserts to the foodservice industry, national restaurant chains, and the in-store bakeries of national grocery chains.
Status: Closed

-FIRST NATIONAL PARTNERS FINANCES FAIRWAY OFFSHORE'S ACQUISITION OF NIGERIAN SHIPYARD
US-based financial services firm First National Partners structured and sourced financing for Nigerian marine service company Fairway Offshore to make an offer to acquire from foreign ownership, develop and expand a shipyard located in Onne Port Complex, Nigeria, the firm said.
Onne Port Complex is a free zone and the logistic center for the oil and gas industry. The proposed funding is USD 62.2m. Founded in 2005, the Fairway Offshore is a maritime support service whose vessels are currently under contract to Texaco and ExxonMobil.
Status: Agreed

-NATURAL GAS VEHICLE TANK MAKERS AGILITY FUEL SYSTEMS, HEXAGON COMPOSITES DIVISION TO MERGE
Norwegian natural gas composite cylinder maker Hexagon Composites and natural gas vehicle fuel system producer Agility Fuel Systems will merge Hexagon Composites' CNG Automotive Products Division with Agility to form Agility Fuel Solutions, the companies said.
This includes Hexagon's medium- and heavy-duty vehicle composite cylinder manufacturing operations and its bus systems business unit. The new entity will be owned equally by Hexagon Composites and Agility's current investors.
Status: Agreed

-UK-BASED A-GAS AMERICAS ACQUIRES US REFRIGERANT RECOVERY FIRM
US-based mergers and acquisitions advisory Generational Capital Markets, Inc.'s client, US-based refrigerant recovery firm The Rapid Recovery Companies dba Rapid Recovery has been acquired by UK-based specialty chemicals and gases company A-Gas Americas (A-Gas), the firm said. 
Rapid primarily services HVAC/R (heating, ventilation, air conditioning and refrigeration) and demolition contractors through company locations as well as a network of franchises. The company specialises in the process of recovery, reclamation, disposition, and recycling of refrigerant for clients needing to comply with EPA guidelines and general refrigerant maintenance.
Status: Closed

-BED BATH AND BEYOND ACQUIRES US HOME DÉCOR, DESIGN FIRM ONE KINGS LANE
US-based domestics merchandise and home furnishings retailer Bed Bath and Beyond Inc. (NASDAQ: BBBY) has acquired home décor and design firm One Kings Lane, Inc. in a cash deal, the company said.
One Kings Lane offers a collection of select home goods, designer and vintage items. The firm works directly with home furnishings brands, vintage dealers, designers and tastemakers to offer a curated merchandise assortment.
Status: Closed

-RED MOUNTAIN GROUP PURCHASES, SELLS USD 47M OF PROPERTY
US-based property company Red Mountain Group, Inc. has completed the simultaneous acquisition and disposition of four properties in one day valued at over USD 47.2m, the company said.
These transactions were part of Red Mountain Group's strategic plan to replace assets in the competitive grocery anchored segment with urban in-fill re-development opportunities.
Status: Closed

-LIBERTY OILFIELD SERVICES CLOSES ACQUISITION OF SANJEL'S US ASSETS
US-based pressure pumping company Liberty Oilfield Services has completed the acquisition of Canadian energy services firm Sanjel Corp.'s US assets, the company said.
With the closing of the transaction, Liberty has doubled its hydraulic fracturing capacity to almost 500,000 hhp, and has expanded its operating presence to cover the Permian and Eagle Ford basins in addition to its current operations in the Williston, Powder River and DJ basins.
Status: Closed

-ENTERTAINMENT STUDIOS ACQUIRES AFRICAN-AMERICAN FOCUSED DIGITAL NEWS COMMUNITY PLATFORM THEGRIO
US-based syndicated television programming producer Entertainment Studios, Inc. has acquired the New York-based African-American focused digital news platform TheGrio, the company said.
TheGrio's editorial mandate is focused on breaking news, opinion, politics, business, entertainment, health, sports, and events that have a unique interest and/or pronounced impact within the African-American community. Originally launched in 2009, TheGrio was then purchased by NBC News in 2010. TheGrio eventually became a news division for MSNBC in 2013.
Status: Closed

-WYNNSTAY ACQUIRES LICHFIELD, UK INDUSTRIAL UNITS FOR GBP 1.95M
UK-based property owner and operator Wynnstay Properties plc (LSE: WSP) has exchanged contracts to purchase four adjoining trade counter and industrial units in Lichfield from Ebury (Lichfield) Ltd., the company said.
Wynnstay said that the acquisition price of GBP 1.95m (USD 2.76m) will be funded from the company's own cash resources together with a new additional facilityof GBP 1.34m from the company's bankers.
Status: Agreed

-DIRECTOR BURGESS REDUCES STAKE IN UK INTERIOR DESIGN FIRM HAVELOCK EUROPA
UK-based interior solutions provider Havelock Europa Plc (LSE: HAVE) has been informed that non-executive director Andrew Burgess has sold 100,000 shares of the company at an average price of 13.08p, the company said.
The sale is worth GBP 1.3m (USD 1.84m). As a result of the sale Burgess' residual holding is 6,904,785 shares, representing 17.92% of the issued share capital. Havelock Europa operates in the retail, financial services, education/accommodation, healthcare and international sectors.
Status: Closed

-DATWYLER TECHNICAL COMPONENTS TO BUY UK ELECTRONICS SUPPLIER PREMIUM FARNELL
The boards of UK-based electronic products and maintenance/repair services firm Premier Farnell plc (LSE: PFL) and Swiss industrial component supplier Datwyler's Datwyler Technical Components UK Ltd. unit have reached agreement on the terms of a recommended offer for the entire issued and to be issued share capital of Premier Farnell by Datwyler's Bidco subsidiary, the companies said.
Under the terms of the deal, each Premier Farnell Shareholder will be entitled to receive 165 pence in cash.
Status: Agreed

-SAFECHARGE INTERNATIONAL SELLS MINORITY STAKE IN GERMAN FINANCIAL TECHNOLOGY GROUP
UK-based payments services, technologies and risk management solutions company SafeCharge International Group Ltd (AIM: SCH) has sold its minority stake in Germany-based FinTech Group AG, the company said.
FinTech Group is a financial technology company, specialising in securities transactions as well as software, payment and IT-solutions. The company operates an online retail banking and brokerage business under its own brands and white label banking for third parties, as well as mobile payment software.
 Status: Closed

-GETECH TO ACQUIRE UK GEOGRAPHICAL INFORMATION SYSTEMS FIRM EXPRODAT CONSULTING
UK-based geoscience business Getech Group plc (AIM; GTC) has closed an agreement to acquire the entire issued share capital of geographical information systems software and services firm Exprodat Consulting Ltd., the company said.
Exprodat provides geographical information systems software and services to the oil and gas industry. Getech will make acash payment equal to the value by which net assets exceed GBP 500,000 payable in two instalments. It will also issue 4,666,667 Getech shares.
Status: Agreed

-OLD MUTUAL'S OM ASSET MANAGEMENT TO BUY 60% STAKE IN LANDMARK PARTNERS
UK-based financial services group Old Mutual plc's (LSE: OML) OM Asset Management plc majority-owned subsidiary will acquire a 60% equity interest in secondary private equity, real estate and real asset investment firm Landmark Partners, the group said.
Under the terms of the purchase agreement, OMAM will pay approximately USD 240m in cash at closing with the potential for an additional payment based on the growth of the business through 2018.
Status: Agreed

-PALACE CAPITAL ACQUIRES MANCHESTER, UK PROPERTY FOR GBP 10.95M
UK-based property investment company Palace Capital plc has exchanged contracts to acquire the freehold of Boulton House, Chorlton Street, Manchester for a consideration of GBP 10.95m (USD 15.53m), the company said.
Boulton House is a 75,000 sq ft multi-let 1970s office building in the centre of Manchester in the popular Portland Street corridor. This sits within the Midtown district of Manchester within a few minutes' walk of Manchester Piccadilly Station. The building is in an area where considerable regeneration is underway and the company view Boulton House as a medium term development opportunity.
Status: Closed

-BRAINLY ACQUIRES SOCIAL LEARNING PLATFORM OPENSTUDY
Polish social learning community Brainly has acquired the US-based peer-to-peer study help platform OpenStudy, the company said.
Together as one community, the Brainly and OpenStudy platforms will offer students a more comprehensive, collaborative online learning tool to encourage academic exploration. Last month, Brainly announced a USD 15m series B funding round led by Naspers, intended to accelerate Brainly's growth globally and expand its presence in the United States.
Status: Closed

-ONE LIBERTY PROPERTIES ACQUIRES TEXAS DISTRIBUTION CENTRE FOR USD 23.7M
US-based REIT One Liberty Properties, Inc. (NYSE: OLP) has acquired a distribution facility in El Paso, Texas for USD 23.7m, the company said. The 419,821 square foot facility, located on 24 acres, is net leased by a Fortune 1000 company through 2022. 
The acquisition was funded with cash on hand and the company's line of credit. One Liberty said it is in the process of obtaining long-term debt financing on this property. One Liberty anticipates that commencing 1 July, it will generate approximately USD 454,000 of rental income per quarter, excluding amortization of the related tangible assets.
Status: Closed

-BIOCLINICA LAUNCHES TWO DIVISIONS FOCUSED ON PATIENT ENGAGEMENT
US-based specialty clinical trials technology and services provider Bioclinica has launched two new divisions, creating an integrated offering focused on patient engagement, the company said.
The divisions are Research Network and Patient Recruitment-Retention. Bioclinica is combining its global clinical research site network and patient recruitment-retention engine under the Global Clinical Research business segment.
Status: Closed

-MINDOULA HEALTH ACQUIRES STARTUP HEALTH FIRM CARE AT HAND
US-based behavioural healthcare case management company Mindoula Health has acquired San Francisco-based Care at Hand, the company said.
Mindoula said that Care at Hand's predictive insights platform will enhance its ability to prevent hospital admissions. Care at Hand, one of the first companies accepted into StartUp Health Academy's GE Program, is the developer of a predictive insights platform powered by non-medical staff.
Status: Closed

-PREPARED HOLDINGS RETAINS STONYBROOK CAPITAL; WILL EXPLORE STRATEGIC ALTERNATIVES
US-based insurance holding company Prepared Holdings, LLC's board of managers authorised a review of strategic alternatives for the company, the company said. The board of managers and a key investor committee will review the strategic alternatives and potential opportunities.
Stonybrook Capital, an affiliate of FINRA-member Weild and Co., has been retained as the exclusive financial adviser to the company.
Status: Talks

-FUELS DISTRIBUTOR RELADYNE ACQUIRES HOLLINGSWORTH OIL'S LUBRICANT'S DIVISION
US-based lubricant, fuel, and diesel exhaust fluid distributor RelaDyne has acquired the lubricants division of US-based lubricants distributor Hollingsworth Oil Company, the company said.
Hollingsworth is a distributor of premium lubricants in Tennessee and Alabama. With HOCL locations in Nashville and Birmingham, this acquisition significantly expands RelaDyne's geographic density and capabilities within Tennessee and Alabama.
Status: Closed

-PACIFIC OFFICE AUTOMATION ADDS TWO LOCATIONS WITH NORTHWEST OFFICE TECHNOLOGIES ACQUISITIONS
US-based managed printing solutions and document management software company Pacific Office Automation has acquired sales, service, and cartridge remanufacturing firm Northwest Office Technologies, the company said.
The partnership means two new locations for POA in Spokane, Washington and Post Falls, Idaho. To support this growth, POA will look to move the Spokane location into a larger space.
Status: Closed

-BROADRIDGE TO ACQUIRE DST'S NORTH AMERICAN CUSTOMER COMMUNICATIONS BUSINESS FOR USD 410M
US-based investor communications, securities processing and managed services solutions firm Broadridge Financial Solutions, Inc. (NYSE: BR) has entered into a definitive agreement to acquire the North American Customer Communications business of US-based software developer DST Systems, Inc. (NYSE: DST) for USD 410m in cash, the firm said.
As the largest transactional printer in North America, NACC is a provider of customer communication services including print and digital communication solutions, content management, postal optimisation, and fulfillment.
Status: Agreed

-UNIVEST CORP OF PENNSYLVANIA, FOX CHASE BANCORP OBTAIN ALL CLEARANCES FOR USD 244.3M MERGER
US-based bank holding companies Univest Corp. of Pennsylvania (NASDAQ: UVSP) and Fox Chase Bancorp, Inc. (NASDAQ: FXCB) have each has received all necessary regulatory and shareholder approvals to close its pending merger transaction, announced in December 2015, the companies said.
Shareholders from both Univest and Fox Chase approved the transaction on 14 June 2016. Subject to satisfaction or waiver of certain additional customary closing conditions, Univest intends to close the transaction effective 1 July 2016.
Status: Agreed

-INTEGRATED DERMATOLOGY ACQUIRES NORTH CAROLINA PRACTICE
US-based dermatology practice Integrated Dermatology Group has expanded its presence in North Carolina with the acquisition of the practice of Dr. Charles N. Reed, formerly known as Reed Dermatology, the company said.
Reed will retain the role of medical director in the practice now known as Integrated Dermatology of Hickory PLLC. A native North Carolinian, Dr. Reed completed his undergraduate studies and medical education at the University of North Carolina at Chapel Hill.
Status: Closed

-VEOLIA TO ACQUIRE SULFUR PRODUCT DIVISION FROM CHEMOURS FOR USD 325M
French waste management and energy services company Veolia's (PAR: VIE) North America unit has signed an agreement to take over US-based chemical maker Chemours' (NYSE: CC) Sulfur Products division for USD 325m, the company said on Tuesday.
This division is a specialist in the recovery of sulfuric acid and gases of the refining process, which are regenerated into clean acid and steam used in wide range of industrial activities. As a tuck-in to Veolia North America's Industrial Business, Chemours Sulfur Products division is an excellent complement to Veolia's existing business, and will reinforce its existing recovery and regeneration capabilities and technologies.
Status: Agreed

-MONROE CAPITAL LEADS FINANCING FOR INVUS, MANAGEMENT BUYOUT OF ASHLEY STEWART
US-based middle-market finance specialist Monroe Capital LLC acted as sole lead arranger and administrative agent on the funding of a senior credit facility (including an undrawn revolving credit facility) to support the acquisition of US-based lifestyle brand Ashley Stewart, Inc. by its senior management and an affiliate of equity investor The Invus Group LLC, the company said.
Under the deal, an affiliate of Invus, in partnership with senior management, acquired a controlling interest in Ashley Stewart, Inc from affiliates of investment firms Clearlake Capital Group, L.P. and FirePine Group, LLC.
Status: Agreed

-OM ASSET MANAGEMENT TO ACQUIRE MAJORITY INTEREST IN LANDMARK PARTNERS FOR USD 240M IN CASH
UK-based multi-boutique asset management company OM Asset Management plc (NYSE: OMAM) has signed a definitive agreement to acquire a 60% equity interest in private equity, real estate and real asset investment firm Landmark Partners, the company said on Tuesday.
Under the terms of the purchase agreement, OMAM will pay approximately USD 240m in cash at closing with the potential for an additional payment based on the growth of the business through 2018.
Status: Agreed

-ARM SOFTWARE FIRM ONTARIO SYSTEMS ACQUIRES COLUMBIA ULTIMATE BUSINESS SYSTEMS
US-based revenue cycle management, accounts receivable management software and services provider Ontario Systems has acquired US-based Columbia Ultimate Business Systems, the company said on Tuesday.
The deal joins together two ARM market software and services experts. Terms of the deal were not disclosed. Both Ontario Systems and Columbia Ultimate are known brands in the ARM market, and each holds distinct market positions in adjacent verticals.
Status: Closed

-WNS CLOSES USD 17.5M ACQUISTION OF VALUE EDGE RESEARCH SERVICES
India-based business process management firm WNS (Holdings) Ltd. (NYSE: WNS) has closed the acquisition of US-, India- and Europe-based pharmaceutical research and analysis firm Value Edge Research Services Pvt. Ltd., the company said.
Cash consideration for the transaction is USD 17.5m plus adjustments for cash and working capital. WNS said it funded the consideration with cash on hand.
Status: Closed

-TOTAL ACQUIRES BELGIAN NATURAL GAS, POWER SUPPLIER LAMPIRIS
French oil and gas major Total (PAR: FP) (LSE: TTA) (NYSE: TOT) has agreed to acquire Belgian natural gas and renewable power supplier Lampiris, the company said.
Terms of the deal were not disclosed. However, Reuters put the deal value at EUR 150-200m (USD 224m). Lampiris is the third-largest supplier of natural gas and renewable power to the Belgium residential sector.
Status: Agreed