Deal Pipeline
Thursday 17 August 2017
The following is a list of deals covered in detail by M and A Navigator this week:

-H AND E EQUIPMENT SERVICES DOESN'T PLAN TO COUNTER COMPLETING OFFER FOR NEFF
Louisiana, US-based integrated equipment servicescompany H and E Equipment Services, Inc. (NASDAQ: HEES) has notified Florida, US-based equipment rental firm Neff Corp (NYSE: NEFF) that it does not intend to submit a revised proposal for the acquisition of Neff, which will permit Neff to terminate H and E's previously announced merger agreement with Neff, the company said on Wednesday.
On Monday, Neff announced that its board has determined that an acquisition proposal received from a strategic bidder to acquire all of the outstanding shares of Neff common stock for USD 25.00 per share in cash constitutes a "superior proposal" to the company's existing deal with H and E Equipment Services.
Status: Agreed

-MELTWATER CLOSES CDN 38M ACQUISITION OF INFOMART MEDIA MONITORING DIVISION OF CANADA'S POSTMEDIA NETWORK
US-based media intelligence company Meltwater has closed an agreement with Canadian newsmedia company Postmedia Network Inc., to acquire its Infomart media monitoring division, the company said.
Postmedia said it is receiving CDN 38m (USD 28.75m) for the division. Meltwater said the deal will further expand the company's presence and offering in North America. Founded in 2001, Meltwater's CEO Jorn Lyseggen bootstrapped the company with USD 15,000 and now, with more than 1,500 employees globally, Meltwater services 50% of Fortune 500 companies.
Status: Closed

-CHEMICAL MAKER HUNTSMAN, CLARIANT RECEIVE 'SECOND REQUEST' FOR ADDITIONAL INFORMATION FROM FEDERAL TRADE COMMISSION
US-based chemical manufacturer Huntsman Corp. (NYSE: HUN) is making progress towards satisfying the regulatory approval condition to closing its merger with Switzerland-based specialty chemical company Clariant (SIX: CLN), forming HunstmanClariant, is on track to close, the company said.
The United States Federal Trade Commission, which reviews the antitrust implications of certain business combinations, delivered a second request for information to Huntsman on 15 August relating to just two products -- sodium isethionate, used in personal care products like soap and shampoos, and a polyetheramine product used in certain construction and additive/paint and ink applications. Together, these products accounted for less than USD 20m of Huntsman's total revenues in the United States in 2016, and Huntsman is confident that it will be able satisfy any FTC concerns in advance of the targeted year-end closing date for the merger.
Status: Agreed

-RIVERCHASE DERMATOLOGY AND COSMETIC SURGERY ACQUIRES MARTIN DERMATOLOGY IN FLORIDA, USA
Florida, US-based medical practice Riverchase Dermatology and Cosmetic Surgery has acquired Martin Dermatology, the firm said. As part of the new alignment, Riverchase adds board-certified dermatologist Sandy Martin, MD, FAAD to its team of practitioners.
Martin was chief resident of dermatology at Baylor in 1980 and was one of the most published young dermatologists at the time. Riverchase Dermatology and Cosmetic Surgery is one of Florida's largest skin centres.
Status: Closed

-SEEMAN HOLTZ PROPERTY AND CASUALTY ACQUIRES TEXAS INSURANCE AGENCY PRIMERA CAPITAL
Florida, US-based financial and insurance advisor Seeman Holtz Property and Casualty, Inc has acquired Texas, US-based auto insurance and tax services provider Primera Capital, the company said.
Primera Capital, headed by Anthony Davis, has been offering services to the Dallas area for over seven years. Seeman Holtz said the addition of Primera Capital will add a solid book of quality client relationships to the firm's portfolio throughout Texas. Seeman Holtz Property and Casualty said it remains focused on targeting high-quality independent agencies for geographic expansion and continued growth.
Status: Closed

-PROLOGIS BUYS OUT BRAZIL JV PARTNER
US-based logistics real estate company Prologis, Inc. (NYSE: PLD) has closed its acquisition of Cyrela Commercial Properties' interest in its Brazil portfolio, the company said. Prologis now owns 100% of Prologis CCP.
Prologis CCP was a joint venture between Prologis and Cyrela Commercial Properties. Now that the transaction has closed, Prologis Brazil owns and operates 9.2m square feet of logistics facilities and land that can support 12m square feet of new logistics facilities in Brazil's primary markets of São Paulo and Rio De Janeiro. Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets.
Status: Closed

-IJET INTERNATIONAL ACQUIRES PRESCIENT TRAVELER TECHNOLOGY
US-based risk management solutions provider iJET International, Inc. has acquired the Prescient Traveler technology and intelligence solution from US-based compliance and risk mitigation firm Prescient, the company said.
The acquisition enables iJET to extend its integrated risk management platform by offering customers real-time incident reports and analysis, along with global, highly granular location-based risk data. iJET said the Prescient Traveler technology enables it to raise the bar for threat mitigation, emergency response and business continuity:
Status: Closed

-E AND J GALLO WINERY ACQUIRES LUXURY CALIFORNIA BRAND GERMAIN-ROBIN
California, US-based winery E. and J. Gallo has purchased California luxury brandy brand Germain-Robin, the company said.
In 1981, Ansley J. Coale Jr. had a chance encounter along Highway 101 in Northern California with Hubert Germain-Robinof the Jules Robin family, Cognac producers since 1782. Hubert's desire at that time was to create a small distillery using traditional craft-method distillation techniques. In 1982, he and Ansley established Germain-Robin.
Status: Closed

-JOHNSON INVESTMENT COUNSEL ACQUIRES CLEVELAND-BASED MAGIS WEALTH PLANNING
US-based investment advisory Johnson Investment Counsel has acquired Cleveland, US-based wealth planning services, tax planning, and investment counsel firm Magis Wealth Planning, the company said. Johnson Investment Counsel said the acquisition continues its strategy of expanding throughout Ohio to better serve its growing client base.
Magis founders Tony Kure and Joe Radigan are now employees of Johnson Investment Counsel and will continue to serve clients out of the firm's Brecksville office. Headquartered in Cincinnati with offices across Ohio, Johnson Investment Counsel serves clients in 46 states.
Status: Closed

-EVOLVING SYSTEMS TO ACQUIRE LOYALTY, CUSTOMER LIFECYCLE MANAGEMENT SOFTWARE FIRM LUMATA
US-based real-time analytics, customer acquisition and customer value management solutions and services company Evolving Systems, Inc. (NASDAQ:EVOL) has signed a definitive agreement to acquire the business operations of loyalty and customer lifecycle management software and services provider Lumata Holdings Ltd., the company said.
Lumata offers tools and marketing expertise to service providers and brands that enable them to unlock the value in their customer data. With a customer base spanning Europe, Africa, Central America and Southeast Asia, this acquisition further strengthens Evolving Systems solutions offering, expands its geographic footprint and adds to its global customer base.
Status: Agreed

-ROTUNDA CAPITAL BOOSTS MIDWEST, US PRODUCE DISTRIBUTION WITH ACQUISITION OF IF/P FOODS
Washington, US-based private equity firm Rotunda Capital Partners, LLC has acquired Indiana, US-based produce distributors IF and P Foods, LLC, the company said. The acquisition will accelerate the growth trajectory of one of the largest produce distributors in the Midwest, US.
IF and P Foods, Inc. was formed through the merger of Indianapolis Fruit and Piazza Produce, two produce distribution companies serving the grocery and foodservice industries. The company has a fleet of over 340 refrigerated trucks servicing over 14 states in the Midwest, US and beyond from five facilities totaling over 225,000-square-feet of warehouse space.
Status: Closed

-MONOLITH ACQUIRES TDB FUSION, FEDEROS ASSETS TO EXTEND UNIFIED SERVICE MANAGEMENT PLATFORM
Texas, US-based service assurance solutions provider Monolith Software has acquired certain assets of UK-based unified service management company TDB Fusion Group, including assets related to the development of the company's Federos software, the company said.
With this purchase, Monolith said it extends its core AssureNow unified service assurance platform with enhanced workflow automation, cloud and systems orchestration, and customisable user interface capabilities. The assets complement AssureNow's ability to provide dynamic integration with legacy network management tools and improve the management of services across hybrid and disparate operating systems through context-based user dashboards.
Status: Closed

-CARBON NATURAL GAS ACQUIRES WEST VIRGINIA GAS PRODUCING PROPERTIES FOR USD 21M
Colorado, US-based oil and gas acquisition company Carbon Appalachian Company, LLC has finalised the acquisition of West Virginia, US-based natural gas-producing properties, midstream assets and related facilities for approximately USD 21m, the company said.
Carbon Appalachian was formed by Colorado, US-based oil and gas exploration company Carbon Natural Gas Company (OTCQB: CRBO and two institutional investors to acquire producing assets in Southern Appalachia, US and has an initial equity commitment of USD 100m. The company said it will utilise the committed funds and its expertise in Southern Appalachia to pursue additional acquisitions in the region.
Status: Closed

-CHICAGO, US TRADING FIRM DRW TO EXPAND EQUITIES TRADING/LIQUIDITY WITH ACQUISITION OF RGM ADVISORS
Chicago, US-based diversified principal trading firm DRW Holdings, LLC has agreed to acquire Texas, US-based principal trading firm RGM Advisors, LLC, combining complementary strengths to expand equities trading opportunities, the company said.
The transaction is expected to close at the end of September. DRW said RGM is complementary to DRW. Bringing the companies together creates opportunity in equities trading, research and technology infrastructure, which will bolster liquidity and innovation in those markets.
Status: Agreed

-ADVANTAGE SOLUTIONS ADDS RETAIL PRODUCTS INFORMATION PROVIDER DATA COUNCIL TO DIGITAL TECHNOLOGY DIVISION
California, US-based business solutions provider Advantage Solutions has acquired Florida, US-based retail product information provider The Data Council to join Advantage's digital technology division, the company said.
The Data Council will continue to operate under its current name with its leadership unchanged. Data Council's IX-ONE solution takes a 360-degree product image and captures all product attributes to create a centralised data and image exchange for suppliers to access and share their product information with trading partners.
Status: Closed

-SERVICE EXPERTS ACQUIRES PLUMBING AND HVAC BUSINESS OF TEXAS, US-BASED ARAMENDIA
Texas, US-based heating and air conditioning services company Service Experts Heating and Air Conditioning LLC has acquired the plumbing and HVAC business of Texas, US-based plumbing company Aramendia Plumbing, Heating and Air Ltd. to complement Service Experts' HVAC services, the company said.
Service Experts said the addition of Aramendia introduces full-service residential plumbing to its offerings. Aramendia has over 90 employees and more than 50 service vehicles. As a Service Experts company, Aramendia will continue to operate as Aramendia from its locations on in San Antonio and McKinney, Texas. In addition to San Antonio and McKinney, Aramendia serves the communities of New Braunfels and San Marcos.
Status: Closed

-WATERMILL ACQUIRES UK INDUSTRIAL FASTENER MAKER COOPER/TURNER
Massachusetts US-based private investment firm The Watermill Group has finalised the acquisition of UK-based industrial fastener manufacturer Cooper and Turner to deepen Watermill's UK presence and accelerate growth in wind turbine sector, the company said.
Cooper and Turner is a subsidiary of UK-based Andaray (Holding) Limited. The cross-border transaction adds Watermill's portfolio of holdings across the US and Mexico. Watermill said it will support Cooper and Turner's continued growth in the global wind energy, railway, tunnelling, oil and gas, and structural sectors, as well as across new markets and geographies.
Status: Closed

-CDH ACQUIRES STAKE IN HOME APPLIANCE BRAND SHARKNINJA
Massachusetts, US-based private equity fund CDH Fund V, L.P., managed by CDH Investments, has agreed to acquire an equity interest in home appliance company SharkNinja to accelerate global expansion of SharkNinja's product portfolio, the company said.
The appliance company said its existing international expansion strategy will be enhanced by increased attention and resources to introduce innovative products to the homes throughout the world, with special emphasis on Asia. SharkNinja said it expects the collaboration with CDH will accelerate the company's global growth and that the investment will enable the company to bring its innovations to new markets and grow the demand of its product portfolio.
Status: Agreed

-KEYBANC CAPITAL MARKETS ADDS CAIN BROTHERS INVESTMENT BANK AS A DIVISION
Ohio, US-based corporate and investment banking company KeyBanc Capital Markets Inc. has agreed to acquire healthcare-focused merger and acquisition investment bank Cain Brothers and Company, LLC, to become a division of KeyBanc Capital Markets, the company said.
KeyBank Capital Markets is the corporate and investment banking unit of KeyCorp (NYSE: KEY). This acquisition will expand Key's existing healthcare investment banking group in a core strategic vertical. The acquisition presents an opportunity to deepen Key's impact with clients delivering Cain Brothers' capabilities and leveraging its network. 
Status: Agreed

-FIDELUS EXPANDS MANAGED SERVICES BUSINESSES WITH ACQUISITION OF SOMETHING DIGITAL ASSETS
New York, US-based unified communication and collaboration technology company Fidelus Technologies, LLC has acquired the networking and security services group of New York, US-based technology services boutique Something Digital, the company said.
The company said it intends to grow its professional and managed services businesses with the addition of Something Digital. Fidelus Technologies is an IT services provider, serving the legal, financial, healthcare, technology, and non-profit sectors.
Status: Closed

-FIBRAHOTEL TO ACQUIRE CANCUN RESORT HOTEL FIESTA AMERICANA
Mexico, US-based real estate investment trust FibraHotel (BMV: FIHO12), specialising in hotels in Mexico, has agreed to acquire the Mexico-based resort hotel Fiesta Americana Condesa Cancun for MXN 2,892m (USD 164m) in a sale and leaseback transaction with Grupo Posadas, the company said.
FibraHotel and Grupo Posadas have signed a binding agreement subject to certain conditions including: the approval of Grupo Posadas´ and FibraHotel´s shareholders, FibraHotel´s successful CBFI placement and, COFECE authorisation. The transaction is expected to close at the beginning of 2018. FibraHotel and Grupo Posadas have committed to invest about MXN 60m (USD 3.4m) each to renovate public areas without closing the hotel during 2017 and 2018, representing an investment of over MXN 22.7m in the hotel.
Status: Agreed

-ID SYSTEMS ACQUIRES KEYTROLLER TO OPEN CROSS SELLING OPPORTUNITIES
New Jersey, US-based wireless machine-to-machine (M2M) solutions provider I.D. Systems, Inc. has acquired Florida, US-based electronic safety device manufacturer Keytroller LLC, under the advisement of Dallas, US-based mergers and acquisitions specialist Generational Equity, the company said.
Keytroller said the two companies complement each other and will benefit from a broader choice of solutions and a larger, more capable service and support organisation. Generational Equity said the transaction opens cross-selling opportunities for both entities. Generational Equity, part of the Generational Group, provides merger, acquisition and strategic growth advisory services.
Status: Closed

-BOULEVARD ACQUISITION, ESTRE AMBIENTAL MERGE TO GROW WASTE MANAGEMENT SERVICES IN LATIN AMERICA
New York, US-based blank check company Boulevard Acquisition Corp. II (NASDAQ: BLVD) has agreed to merge with Brazil-based waste management company Estre Ambiental S.A. in an agreement under which Estre will be publicly listed with an initial enterprise value of USD 1.1bn, the company said.
Boulevard Acquisition Corp II was sponsored by an affiliate of investment firm Avenue Capital Group. Under the terms of the transaction, a new Cayman holding company will be formed and, prior to the consummation of the business combination, all or substantially all of the shareholders of Estre will exchange their shares of Estre for shares of Holdco at a fixed value of USD 10.00 per share and as a result Estre will become a subsidiary of Holdco.
Status: Agreed

-MERCER ACQUIRES BLUE MOON ADVISORY TO EXPAND NORTHWEST, US PRESENCE
California, US-based wealth management firm Mercer Advisors Inc. has acquired Washington, US-based financial planning company Blue Moon Wealth Advisory LLC, to expand presence in the Pacific Northwest area of the US, the company said. Mercer said Blue Moon's financial planning and comprehensive wealth approach is a strong cultural fit and the acquisition is expected to build Mercer's presence in Washington state.
This transaction increases Mercer's assets under management to approximately USD 11bn, with 7,700 clients nationwide. Mercer will consolidate offices as part of its efforts to expand its Pacific Northwest presence.
Status: Closed

-QUALA TO ACQUIRE ALPHA TECHNICAL SERVICES TO EXPAND CLEANING PLATFORM IN GULF COAST AREA
Florida, US-based industrial container cleaning company Quala has acquired Texas, US-based industrial cleaning, waste management company Alpha Technical Services (ATS) to expand cleaning capabilities in Gulf Coast region of the US, the company said.
Quala said through ATS it has expanded its position in the railcar and specialty cleaning platforms, allowing the company to utilise and expand upon the current ATS tank trailer cleaning capabilities. ATS is a catalyst that supports Quala in expanding its railcar service model, to become a more diversified container cleaning company, serving the petrochemical industry.
Status: Agreed

-DECISION RESOURCES COMPLTES ACQUISITION OF DATA TECHNOLOGY STARTUP CONTEXT MATTERS
Massachusetts, US-based market intelligence company Decision Resources Group (DRG) has finalised the acquisition of data technology start-up Context Matters to solidify the company's position in global market access to data products, analytics and strategic guidance for life sciences groups, the company said.
Terms of the transaction were not disclosed. DRG was previously the lead investor in a Series B funding round for the Context Matters. The acquisition of Context Matters reinforces DRG's commitment to providing an understanding of global market access landscapes that life sciences organisations can leverage to drive profitable asset management from development through commercialisation.
Status: Closed

-RESULTS COMPANIES ACQUIRES US CALL CENTRE SERVICES BUSINESS USA800
Florida, US-based business process outsourcing and contact services provider The Results Companies has completed the acquisition of Missouri, US-based call centre services business USA800, to expand geographic footprint, the company said.
The Results Companies is a portfolio company of New York, US-based private equity firm One Equity Partners. Results said the transaction strengthens its financial services capabilities. One Equity Partners acquired Results and completed a merger with TLK Group in November 2015. Results subsequently completed the acquisition of Corporate Call Center Inc. in June 2016.
Status: Closed

-COLDWELL BANKER ACQUIRES MCMULLEN REAL ESTATE TO FURTHER CHICAGO EXPANSION
Chicago, US-based residential real estate brokerage company Coldwell Banker Residential Brokerage has acquired assets of Chicago, US-based McMullen Real Estate Inc., operating as Century 21 McMullen to continue expansion in Chicago, the company said.
This is the third acquisition by Coldwell Banker Residential Brokerage in the Greater Chicago area in two months. The McMullen has 200 affiliated agents and a single office, which will conduct business under the banner of Coldwell Banker Residential Brokerage.
Status: Closed

-TELUS INTERNATIONAL ACQUIRES CUSTOMER EXPERIENCE PROVIDER VOXPRO
Canada-based business process and IT outsourcing company Telus International has acquired Ireland-based customer experience provider Voxpro to enhance customer experience offerings for technology, travel and hospitality and healthcare brands, the company said.
Operating as Voxpro, powered by Telus International, the  company supports disruptive technology companies, helping them to evolve and scale into global brands. The partnership grows Telus International's US footprint, providing a more comprehensive onshore offering to existing and prospective customers.
Status: Closed

-KPA ACQUIRES AUTOMOTIVE COMPLIANCE CONSULTANTS
Colorado, US-based compliance management solutions company KPA, LLC has acquired Illinois, US-based environmental health and safety/F and I compliance solutions provider Automotive Compliance Consultants, the company said.
KPA is a portfolio company of Chicago-based private equity firm CIVC Partners. ACC represents the fourth acquisition completed by KPA under CIVC's ownership. ACC represents a highly complementary acquisition for KPA that enhances KPA's existing environmental, health and safety and F and I software offering, and broadens the set of compliance solutions available to clients of both companies.
Status: Closed

-OHIO'S FARMERS NATIONAL BANC CLOSES USD 7.8M ACQUISITION OF MONITOR BANCORP
Ohio, US-based bank holding company Farmers National Banc Corp. (NASDAQ: FMNB) and its The Farmers National Bank of Canfield subsidiary have closed the acquisition of US-based bank holding company Monitor Bancorp, Inc. and its Monitor Bank subsidiary, the company said.
The cash and stock transaction was valued at approximately USD 7.8m. Monitor Bank will be merged with and into The Farmers National Bank of Canfield. The Monitor Bank branch will become a branch of The Farmers National Bank of Canfield. Farmers expects the transaction to be accretive to earnings per share, excluding one-time merger costs, beginning in the first full year of combined operations, and expects it to be immediately accretive to tangible book value per share with no tangible book value dilution.
Status: Closed

-HIG CAPITAL CLOSES USD 283M ACQUISITION OF NCI
US-based private equity firm H.I.G. Capital, LLC has closed the acquisition of US-based software and services company NCI, Inc. (NASDAQ: NCIT), the firm said. This USD 283m deal was announced in early July.
NCI is a provider of enterprise solutions and services to US defense, intelligence, health and civilian government agencies. The company focuses on delivering solutions and services in the areas of agile development and lean software O and M cybersecurity and information assurance; engineering and logistics; big data and data analytics; IT infrastructure optimization and service management; and health and program integrity.
Status: Closed

-NATIONAL PLANNING HOLDINGS SELLS BROKER-DEALER NETWORK LPL FINANCIAL
US-based broker-dealer holding company National Planning Holdings, Inc. has sold its independent broker-dealer network, to US-based independent broker-dealer LPL Financial LLC (LPL), the company said.
This network consists of Invest Financial Corporation, Investment Centers of America, Inc. (ICA), National Planning Corporation and SII Investments, Inc. (SII). The transaction is structured as an asset sale, which includes substantially all of the business of the network, for an initial purchase price of USD 325m.
Status: Closed

-US REITS CARE CAPITAL PROPERTIES, SABRA HEALTH CARE WIN SHAREHOLDER NODS FOR MERGER
Shareholders of Chicago, US-based health care REIT Care Capital Properties, Inc. (NYSE: CCP) have approved the company's deal to merge with Maryland, US-based real estate investment trust Sabra Health Care REIT, Inc. (NASDAQ: SBRA) (NASDAQ: SBRAP) in an all-stock merger transaction to create a healthcare REIT, the company said.
Sabra separately announced today that its stockholders voted to approve the issuance of shares of Sabra common stock to CCP stockholders in connection with the merger at a special meeting of Sabra stockholders. The transaction is currently expected to close on 17 August 2017, subject to customary closing conditions. The combined company is expected to have a pro forma total market capitalisation of approximately USD 7.4bn and an equity market capitalisation of approximately USD 4.3bn.
Status: Agreed

-RLJ LODGING TRUST, FELCOR LODGING TRUST WIN SHAREHOLDER NODS FOR MERGER
Shareholders of US-based hotel REIT's RLJ Lodging Trust (NYSE: RLJ) and FelCor Lodging Trust Inc. (NYSE: FCH) have approved the companies' their USD 4.2bn merger announced in April, at separate meetings held Wednesday, the companies said.
At the RLJ Special Meeting, RLJ's shareholders were asked to vote on the issuance of common shares of beneficial interest, par value USD 0.01 per share, of RLJ in connection with the agreement and plan of merger pursuant to which FelCor will merge with and into a subsidiary of RLJ in a stock-for-stock transaction. At the FelCor Special Meeting, FelCor's stockholders were asked to vote on a proposal to approve the merger.
Status: Agreed

-EVOTEC CLOSES USD 300M ACQUISITION OF US PHARMACEUTICAL SERVICES FIRM APTUIT
German drug discovery alliance and development partnership company Evotec AG has closed the acquisition ofUS-based drug discovery services company Aptuit Holdings LLC for USD 300m, the company said.
This deal was announced in July. This deal combines the businesses and expand Evotec's role as player in integrated outsourced drug discovery and development solutions. In particular, Evotec is aiming for a value chain extension through unique solutions in integrated drug discovery and development.
Status: Closed