Deal Pipeline
Tuesday 18 August 2015
The following is a list of deals covered in detail by M and A Navigator this week:

-SERVICE KING COLLISION REPAIR ADDS 8 CHICAGO LOCATIONS THROUGH ACQUISITION
US-based collision repair service provider Service King Collision Repair Centers has expanded in the Chicago area through the acquisition of Riverdale Body Shop and its eight collision repair facilities, the company said. Officials from Service King and Riverdale Body Shop mutually agreed upon terms of the deal on 14 August, with the acquisition effective immediately.
Status: Closed

-VIBRA HEALTHCARE ACQUIRES TWO INPATIENT REHABILITATION HOSPITALS FROM ELMCROFT
An affiliate of US-based hospital operator Vibra Healthcare has acquired two acute medical rehabilitation hospitals from Elmcroft Senior Living of Louisville, Kentucky, the company said.The hospitals are Gateway Rehabilitation Hospital at Florence, a 40-bed, 62,550 square foot facility located in Florence, KY; and Highlands Regional Rehabilitation Hospital, a 41-bed, 50,839 square foot facility located in El Paso, TX.
Status: Closed

-FAIRPOINT GROUP CLOSES GBP 8M ACQUISITION OF COLEMANS-CTTS LEGAL SERVICES BUSINESS
UK-based consumer professional services provider Fairpoint Group plc has completed the acquisition of the trade and assets of US-based legal services provider Colemans-CTTS LLP, CT Support Services Ltd. and the entire ordinary share capital of Holiday TravelWatch Ltd, the company said. Consideration for the acquisition has been satisfied by the initial payment of GBP 8m (USD 12.47m) in cash and the issue of 755,516 ordinary shares at 132p per ordinary share.
Status: Closed

-AUCTUS PULLS OUT OF TALKS TO ACQUIRE SOCIAL MEDIA PLATFORM
UK-based blank check company Auctus has withdrawn from the negotiations in relation to the proposed acquisition of a social media platform, the company said. Actus announced on 22 April that it was in negotiations toward a reverse takeover of an undisclosed social media platform. The company said that its board, after careful consideration, opined that proceeding with the transaction would not be in the best interests of the Auctus shareholders.
Status: Terminated

-RESTORE BUYS DOCUMENT SCANNING BUSINESS CRIMSON UK FOR GBP 1M
UK-based support services company Restore plc has acquired UK-based document scanning business Crimson UK Ltd., the company said. Crimson was purchased for a cash consideration of GBP 1m (USD 1.56m) on a cash-free, debt-free basis, funded from Restore's existing bank facilities. Further payments up to a maximum of GBP 675,000 over five years may be made, conditional on the award and execution of a potential major contract.
Status: Closed

-SAFESTAY TO ACQUIRE EDINBURGH HOSTEL FOR GBP 14.9M
UK-based hostel owner and operator Safestay (AIM: SSTY) plans to acquire a 615 bed Edinburgh Hostel for GBP 14.9m (USD 23.22m), the company said. The property is a 132 room/615 bed hostel and student accommodation scheme located in the heart of Edinburgh Old Town just off the Royal Mile. According to Safestay, the Edinburgh hostel provides a mix of hostel and student accommodation and has a 12 year contract with Edinburgh University to provide student accommodation during the academic year.
Status: Agreed

-SATELLITE SOLUTIONS WORLDWIDE ACQUIRES FRENCH BROADBAND PROVIDER SAT2WAY
UK-based Satellite Solutions Worldwide Group plc (AIM: SAT), a communications company specialising in rural, last-mile satellite broadband, has acquired French satellite broadband provider Sat2Way, the company said. SARL has more than 5,500 residential and business customers. Predominantly operating in France, Sat2Way also has customers in Spain, Switzerland and Belgium.
Status: Closed

-MAINSOURCE FINANCIAL BUYS FIVE OLD NATIONAL BANK BRANCHES
US-based bank holding company MainSource Financial Group's (NASDAW: MSFG) MainSource Bank subsidiary has closed its acquisition of Old National Bank branches located in Portland, Richmond, Brownstown, and Batesville, Indiana as well as one branch located in Union City, Ohio. The purchase includes a total of USD 120m in deposits and approximately USD 30m in loans. The acquired deposits are comprised of approximately 81% transaction/savings accounts and 19% time accounts, MainSource said.
Status: Closed

-GULF COAST FORMS NEW SUBSIDIARY FOLLOWING ACQUISITIONS
US-based oil and gas explorer Gulf Coast Western, LLC has formed a subsidiary to provide a full suite of well completion and operational safety services to the oil and gas industry, the company said on Tuesday. The new subsidiary, Gulf Coast Western Energy Services, also headquartered in Dallas, provides oilfield spill and frac tank containment systems, water transfer, flow back water recovery services, well clean up services, onsite Cold Clean equipment cleaning services and high pressure pipe restraints.
Status: Closed

-NEW SENIOR CLOSES USD 640M ACQUISITION OF INDEPENDENT LIVING PORTFOLIO
US-based senior housing REIT New Senior Investment Group Inc. (NYSE: SNR) has closed the acquisition of 28 private pay, independent living properties from affiliates of Holiday Retirement for USD 640m, the company said on Tuesday. According to New Senior, the portfolio is 100% private pay, contains 3,298 units located across 21 states and had an average occupancy rate of 89.8% for July 2015. The portfolio will continue to be operated by Holiday under new property management agreements.
Status: Closed

-AUTOMATED-X ACQUIRES MEDIA COMPANY SADDLE RANCH PICTURES
US-based oil and gas company Automated-X, Inc. (OTC: AUTX) has acquired media company Saddle Ranch Pictures, Inc. in a stock transaction, the company said on Tuesday. The combined companies will ultimately operate as Saddle Ranch Media, Inc., an advanced media company operating three divisions; Saddle Ranch Pictures, Saddle Ranch TV and Saddle Ranch Digital.
Status: Closed

-HIG CAPITAL TO ACQUIRE IT FIRM HELPSYSTEMS
US-based private equity firm H.I.G. Capital's dedicated middle market investment affiliate, H.I.G. Middle Market, has entered into a definitive agreement to acquire US-based IT company HelpSystems, LLC from current investor Summit Partners, the firm said on Tuesday. The completion of the transaction is subject to regulatory and anti-trust approval.
Status: Agreed

-MEDICAL DEVICE TECHNOLOGY FIRM FREUDENBERG BUYS MAJORITY STAKE IN GERMANY'S HEMOTEQ
US-based Freudenberg Medical, a developer and manufacturer of specialty components and minimally invasive device solutions for the medical device and pharmaceutical industry, has acquired the majority of Germany-based surface coating specialist Hemoteq AG, the company said on Tuesday. Hemoteq, based in Würselen, Germany, develops coating solutions for combination products like drug eluting stents, as well as coatings for catheters and cochlear implants, and is the market leader for drug-coated balloon catheters.
Status: Closed

-MEDICAL DEVICE MAKER THERAGEN ACQUIRES NEUROTECH NORTH AMERICA
US-based medical device company Theragen LLC has acquired Neurotech North America, a manufacturer of non-invasive stimulation products for orthopedics and spine indications, the company said on Tuesday. The purchase includes commercial rights to Rest of the World assets, excluding Germany, Switzerland and Austria. Neurotech NA was a wholly owned subsidiary of BioMedical Research, Inc. (BMR, Galway Ireland) and a proven leader within the electrical stimulation industry.
Status: Closed

-CHEMICAL COMPANIES PQ, ECO SERVICES TO MERGE
US-based chemicals company PQ Corp. and US-based sulfuric acid recycling services firm Eco Services Operations LLC are combining to form a global producer of inorganic specialty materials and catalysts, the companies said on Tuesday. PQ's existing shareholders (affiliates of CCMP Capital, INEOS Capital, and management), and Eco Services' existing equityholders (affiliates of CCMP Capital and management) will remain as shareholders of the combined business and continue to support the strategic growth initiatives for each of the companies.
Status: Agreed

-WEBPT ACQUIRES THERAPY PRACTICE MANAGEMENT SOFTWARE FIRM
US-based WebPT, a web-based electronic medical record solution for rehab therapists, has acquired Therabill, a web-based practice management software for physical and occupational therapists, speech-language pathologists and behavioral health specialists, the company said. Joe Dundas, the president and co-founder of Therabill, said the decision to bring the two companies together was not a hasty one.
Status: Closed

-CHATHAM LODGING BUYS FLORIDA HOTEL
US-based hotel REIT Chatham Lodging Trust (NYSE: CLDT) has completed the acquisition of the 105-room Residence Inn Fort Lauderdale Intracoastal/Il Lugano, the company said. The Residence Inn Fort Lauderdale Intracoastal/Il Lugano opened in 2008 as the Il Lugano Hotel and Residences and was converted to a Residence Inn in 2014.
Status: Closed

-DEUTSCHE ASSET AND WEALTH MANAGEMENT ACQUIRES SHOPPING CENTRE IN CHICAGO
German financial services firm Deutsche Bank's (NYSE: DB) Deutsche Asset and Wealth Management unit's (Deutsche AWM) alternatives and real assets business has acquired the Wicker Park Commons shopping plaza in Chicago, Illinois, for one of its investment funds, the company said. Located at 1265-1303 North Milwaukee Avenue, Wicker Park Commons is an urban infill Class-A shopping centre with strong credit tenancy, anchored by a dominant grocer and national home improvement store.
Status: Closed

-ACCENTURE COMPLETES ACQUISITION OF ENERGY QUOTE
Irish management consulting, technology services and outsourcing company Accenture (NYSE: ACN) has closed its acquisition of UK-based energy management and procurement services provider EnergyQuote JHA, the company said on Tuesday. The acquisition will bolster Accenture's energy procurement capabilities in Europe and further enhance its ability to deliver energy management as-a-service to clients.
Status: Closed

-HILB ACQUIRES NORTH CAROLINA EMPLOYEE BENEFITS, COMMERCIAL INSURANCE SPECIALIST
US-based insurance agency The Hilb Group has acquired Wilmington, North Carolina-based JWB Insurance Group, the company said. JWB Insurance Group provides specialty services in employee benefits and commercial insurance, with expanded offerings in individual and personal lines.
Status: Closed

-SCANSOURCE TO ACQUIRE CISCO VIDEO CONFERENCING DISTRIBUTOR KBZ
US-based specialty technology products distributor ScanSource, Inc. (NASDAQ: SCSC) has executed a letter of intent to purchase the assets of KBZ, a Cisco Authorized Distributor specialising in video conferencing, cloud, and services, the company said. Founded in 1987 and based in Doylestown, Pennsylvania, KBZ operates in the United States and has approximately 75 employees.
Status: Agreed

-CASTLETON COMMODITIES BUYS EAST TEXAS OIL, GAS ASSETS
US-based commodities merchant Castleton Commodities International LLC has acquired, through its subsidiaries, certain East Texas assets and operations from EDF Trading Resources, LLC, the company said. According to Castleton, the acquired assets consist of working interests in 545 oil and gas wells and approximately 30,855 net acres in multiple counties throughout East Texas.
Status: Closed

-NN TO ACQUIRE PRECISION ENGINEERED PRODUCTS FOR USD 615M
US-based industrial company NN, Inc., (NASDAQ: NNBR) has entered into a definitive agreement to acquire US-based manufacturing firm Precision Engineered Products Holdings, Inc. for USD 615m in cash, the company said. The transaction is expected to be immediately accretive to earnings. The company anticipates that the transaction will close by the end of October, 2015, subject to customary closing conditions and regulatory approval. P.E.P. is a global manufacturer of highly engineered precision customised solutions serving the medical, electrical, transportation and aerospace end markets.
Status: Agreed

-BB/T TO ACQUIRE NATIONAL PENN BANCSHARES IN USD 1.8BN DEAL
US-based bank holding companies BB/T Corp. (NYSE: BBT) and National Penn Bancshares, Inc. (NASDAQ: NPBC) have signed a definitive agreement under which BB/T will acquire National Penn in a cash and stock transaction for total consideration valued at approximately USD 1.8bn, the companies said. This acquisition will significantly expand BB/T's footprint in the Mid-Atlantic region and improve its deposit market share to #4 in Pennsylvania.
Status: Agreed

-HI-TECH PHARMACEUTICALS ACQUIRES SPORTS NUTRITION BRAND LG SCIENCES
US-based sports nutrition, weight loss products and contract manufacturing services provider Hi-Tech Pharmaceuticals has acquired LG Sciences brand of sports nutrition products and bodybuilding products, the company said. The transaction will continue to bolster Hi-Tech's leading Sports Nutrition and Weight Loss arsenal and expand its position as a leader in Diet and Energy products and continues to add to its family of top tiered Sports Nutrition brands.
Status: Closed

-MEDTECH DEVELOPER XIMEDICA ACQUIRES BRIDGE DESIGN
US-based medical technologies development firm Ximedica has acquired US-based medical and life science product designer Bridge Design, the company said on Tuesday. Bridge Design, based in San Francisco, California, provides Ximedica with a West Coast hub and an expanded front-end offering of design services for physical and digital products, including m-health.
Status: Closed

-KPMG ACQUIRES EWING BEMISS ENERGY PRACTICE
Dutch accounting firm KPMG LLP's KPMG Corporate Finance LLC subsidiary has added a team of professionals from US-based middle market boutique investment bank Ewing Bemiss and Co that provides transaction advisory services to companies in the energy, power and utilities sectors, the firm said. According to KPMG, the Ewing team has completed transactions in a variety of industries, with significant emphasis on the energy and power and energy and industrial services industries.
Status: Closed

-INTEGRA TO ACQUIRE WESTERN US FIBRE CONNECTIVITY SPECIALIST OPTICACCESSA
US-based fiber-based networking, communications and technology solutions provider Integra has entered into a definitive agreement to acquire opticAccess, LLC, the company said. Founded in 2012, opticAccess provides high-capacity, fiber-based connectivity solutions for large enterprise and domestic and international carrier customers through its 3,500 route mile network, which stretches from Seattle to San Diego, with the majority of its metro fiber route miles in the Bay Area and Los Angeles metro areas.
Status: Agreed

-SS/C ACQUIRES CITIGROUP'S ALTERNATIVE INVESTOR SERVICES BUSINES FOR USD 425M
US-based financial services software and software-enabled services provider SS/C Technologies Holdings, Inc. (NASDAQ: SSNC) has Citigroup's Alternative Investor Services business, which includes Hedge Fund Services and Private Equity Fund Services, for USD 425m, the company said. SS/C is a fund administrator for both onshore and offshore hedge funds, fund of funds and private equity funds.
Status: Closed

-SOFTWARE FIRMS MICROPACT, IRON DATA CLOSE MERGER
US-based software firm MicroPact Inc. has merged with Iron US-based case management and regulatory software solutions Data Solutions, Inc., the firm said. The merged company will retain the MicroPact name.
Status: Closed