Deal Pipeline
Monday 18 July 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-HEALTHY AND TASTY BRANDS ACQUIRES FRANCHISE RIGHTS TO GRILLIT RESTAURANT CHAIN
US-based restaurant operator Healthy and Tasty Brands Corp. (OTC: GRLT) has acquired the franchise rights to the Grillit restaurant concept in the US and international markets, the company said.
Grillit is a fast-casual, Latin-Caribbean fusion dining restaurants committed to a health-centric menu, featuring an open-display grill and kitchen and comfortable dining atmosphere. The chain specialises in made-to-order salads, rice bowls, pasta dishes and wraps.
Status: Closed

-MOBVISTA ACQUIRES GAMEANALYTICS BEHAVIOURAL ANALYTICS PLATFORM
Danish behavioural analytics platform GameAnalytics has been acquired by Asian mobile ad tech firm Mobvista, the company said.
Through this acquisition, Mobvista expands its international reach and service offering to bring game developers a complete advertising technology platform that drives revenue and maximizes lifetime value. Mobvista is pursuing an aggressive overseas growth strategy.
Status: Closed

-MIDDLE MARKET SPECIALIST GENERATIONAL EQUITY PASSES M/A MILESTONE
US-based middle-market mergers and acquisitions advisor Generational Equity closed its 500th transaction by the end of June, with a total valuation of nearly USD 2.7bn, the firm said.
Since then, the firm has added six additional closings, reaching 506 total transactions, with 47 closed so far this year, a record pace for the firm. Generational Equity was is one of the larges middle-market M/A advisory firms in North America.
Status: Closed

-TERUMO CLOSES USD 280M ACQUISITION OF ANEURYSM EMBOLIZATION SYSTEM SPECIALIST SEQUENT MEDICAL
Japanese medical device maker Terumo Corp has closed an agreement to purchase medical device maker Sequent Medical, Inc, the company said. Sequent Medical is a privately-held firm based in Aliso Viejo, California with European operations based in Bonn, Germany.
The purchase price of USD 280m will be paid at the close of the sale, with up to USD 100m to be paid based on the achievement of specific development or commercial milestones.
Status: Closed

-TALMER BANCORP WINS SHAREHOLDER NOD FOR USD 1.4BN MERGER WITH CHEMICAL FINANCIAL
Shareholders of Michigan, US-based bank holding company Talmer Bancorp, Inc. (NASDAQ: TLMR) have approved the merger of Talmer, and Chemical Financial Corp. the holding company for Chemical Bank, with over 99% of Talmer shares cast at the meeting voting in favour of the merger, the company said.
The merger will make Chemical Bank the largest bank headquartered in Michigan. This deal remains subject to Chemical shareholder approval and final regulatory approvals. Chemical's shareholder meeting to vote on the merger is scheduled for July 19, 2016.
Status: Agreed

-OLIVARIUS HOSPITALITY CALIFORNIA BUYS SUN-PROTECTIVE CLOTHING FIRM COOLIBAR
US-based sun-protective clothing firm Coolibar, Inc. has been acquired by sun protection products company Olivarius Hospitality California, the firm said. Coolibar's prior investors led by LFE Capital and AAVIN Private Equity, will be exiting their position in the business through the transaction.
Headquartered in Minneapolis, Minnesota, Coolibar designs, manufactures and markets sun-protective clothing and accessories.
Status: Closed

-THREE US LUPUS NON-PROFITS MERGE TO FORM THE LUPUS RESEARCH ALLIANCE
US-based non-profits The Alliance for Lupus Research, the Lupus Research Institute, and the S.L.E. Lupus Foundation have merged form the Lupus Research Alliance, the organisations said. As the largest private sector organisation forcused on advancing research into the autoimmune disease Lupus.
Collectively, the three legacy organisations have devoted more than 75 years to the cause and are responsible for funding overused USD 200m to support lupus research programmes. Kenneth M. Farber, formerly president of the Alliance for Lupus Research and Margaret G. Dowd, formerly president and CEO of the Lupus Research Institute, serve as co-CEOs of the new organisation.
Status: Closed

-INNODATA MEDIAMISER ACQUIRES AGILITY MEDIA INTELLIGENCE BUSINESS FROM PR NEWSWIRE
US-based digital services and solutions company Innodata Inc's (NASDAQ: INOD) MediaMiser subsidiary has purchased the Agility media contact database and media monitoring platform from press release distributor PR Newswire, the company said.
MediaMiser is a provider of media monitoring and analysis software and services. Agility is a global media contact database and media monitoring platform that helps customers target key influencers, amplify content and measure impact.
Status: Closed

-PAR PACIFIC CLOSES USD 271.4M ACQUISITION OF WYOMING REFINING COMPANY
Texas, US-based energy and infrastructure company Par Pacific Holdings, Inc. (NYSE MKT: PARR) has completed its acquisition of Hermes Consolidated, LLC (dba Wyoming Refining Company) for a total consideration of approximately USD 271.4m, including the assumption of approximately USD 58m of debt, the company said.
The refinery is located in Newcastle, Wyoming and has a processing capacity of 18,000 barrels per day as well as related logistics assets throughout the region.
Status: Closed

-BILL BARRETT CLOSES USD 30M SALE OF NON-CORE ASSET IN UINTA BASIN
Denver, US-based oil and gas explorer Bill Barrett Corp. (NYSE: BBG) has closed the sale of non-core assets located in the Uinta Basin for net cash proceeds of approximately USD 30m, the company said.
This amount is subject to customary post-closing adjustments. Bill Barrett said that the sale of the properties did not result in a reduction of the company's borrowing base related to its revolving credit facility.
Status: Closed

-PLAYTECH ACQUIRES AURSTRIAN SPORTS BETTING SOFTWARE FIRM BEST GAMING
UK-based gambling industry's leading software and services supplier Playtech (LSE: PTEC) has acquired Austrian sports betting software and solutions firm Best Gaming Technology GmbH for EUR 138m (USD 153.28m), the company said. 
The consideration was paid from Playtech's existing cash resources. Headquartered in Vienna, BGT was founded in 2005 and is the provider of sports betting software and solutions for gaming and sports betting operators.
Status: Closed

-STRAT AERO CLOSES ACQUISITION OF UK-BASED. UAV-SPECIALISED SURVEYING BUSINESS
UK-based UAV-focused aerospace services company Strat Aero plc (LSE: AERO) has closed its acquisition of UK based, UAV-operated topographical surveys and inspection services firm Geocurve Ltd. the company said.
The final consideration of GBP 954,893 (USD 1.259m) represents the actual sales achieved by Geocurve during the year ended 31 March 2016 of GBP 659,384 adjusted for sales pipeline factors and profitability. Geocurve, which is based in Essex, UK, provides survey and inspection services using manned and unmanned aerial vehicles as well as ground and water-based systems to a portfolio of public and private sector clients, including the Environment Agency, Northumbrian Water, CH2M and Balfour Beatty.
Status: Closed

-STEINHOFF TO PAY GBP 597M FOR UK SINGLE-PRICE RETAILER POUNDLAND
The boards of South African furniture and household goods retailer Steinhoff International Holdings N.V. and UK-based single price general merchandise retailer Poundland Group plc have reached agreement on the terms of a recommended cash offer under which Steinhoff Europe AG will acquire Poundland, the companies said.
Under the deal, each Poundland shareholder shall be entitled to receive 222 pence in cash for each Poundland share held comprising 220 pence in cash for each Poundland share held by each Poundland shareholder, and a final dividend of two pence per Poundland share announced in the Poundland results announcement for the year ended 27 March 2016, dated 16 June 2016.
Status: Agreed

-MCCOLL'S RETAIL TO BUY 298 UK STORES FROM THE CO-OP IN GBP 117M DEAL
UK-based convenience store and newsagent operator McColl's Retail Group plc (LSE: MCLS) has agreed the conditional acquisition of 298 convenience stores from UK consumer cooperative The Co-Operative Group Ltd. for an aggregate consideration of GBP 117m (USD 154.37m) in cash, the company said.
The acquisition will be carried out by Martin McColl Ltd., a wholly owned subsidiary of the company. McColl's Retail said that the acquisition is subject to and conditional upon the majority approval of shareholders.
Status: Agreed

-HILL AND SMITH CLOSES GBP 10M ACQUISITION OF UK SECURITY ACCESS PRODUCTS FIRM TECHNOCOVER
UK-based infrastructure products and galvanizing services group Hill and Smith Holdings plc (LSE: HILS) has completed the acquisition of UK-based high security access products specialist Technocover Ltd. for a total cash consideration of GBP 10m (USD 13.19m), the group said.
The consideration will be funded from the group's existing bank facilities. Based in the UK, Technocover was a subsidiary of Ensor Holdings plc (LSE: ESR) and specialises in the development, manufacture, installation and maintenance of high security access products for the utilities markets.
Status: Closed

-DUTCH DEVELOPER PLAZA CENTERS SELLS ROMANIAN PLOT
Dutch property developer Plaza Centers N.V. (LSE: PLAZ) (TASE: PLAZ) Plaza Centers N.V. has disposed of an 18,400 sqm plot in a suburb of Ploiesti, Romania to a local investor for EUR 280,000 (USD 309,022), the company said.
Ploiesti is located around 50 kilometres north of the Romanian capital, Bucharest and the plot is currently earmarked for residential development. Upon completion of the disposal, in line with the company's said restructuring plan, 75% of the net cash proceeds will be distributed to Plaza's bondholders.
Status: Closed

-FAROE PETROLEUM TO ACQUIRE NORWEGIAN OIL AND GAS ASSETS FROM DONG
UK-based oil and gas company Faroe Petroleum plc (LSE: FPM) has conditionally agreed to acquire a package of interests in producing Norwegian oil and gas assets from Danish Energy firm Dong Energy's (CPH: DENERG) Dong E/P Norge AS unit, the company said.
A total consideration of USD 70.2m has been agreed with the vendor and, subject to the satisfaction of certain conditions, it is expected that the completion of the acquisition will occur by the end of 2016. The company also plans to conduct a placing with certain institutional investors and the directors of the company to raise gross proceeds of approximately GBP 60.8m in order to fund the acquisition and to accelerate Faroe's recent Brasse discovery towards development sanction.
Status: Agreed

-GROM HOLDINGS ACQUIRES PHILIPPINES ANIMATION PRODUCER TOP DRAW ANIMATION
US-based children's social network operator Grom Holdings Inc. has acquired 100% of Philippines-based Top Draw Animation, the company said.
The acquisition of a major international animation producer is part of an aggressive growth strategy for Grom Social, a social network billing itself as created "by kids for kids." TDA is a producer of 2D animation for television markets around the world. The company serves producers and broadcasters as a provider of quality television animation and currently.
Status: Closed

-QUESTEX ACQUIRES UK HOTEL CONFERENCE ORGANISER
US-based business information and events company Questex has acquired UK-based event organiser TheAHC Co Ltd., the company said. The AHC is the organiser of The Annual Hotel Conference, the United Kingdom's largest industry event in the individual, boutique, branded and consortium hotel segments.
Questex said that the agreement merges the collective resources of the company, who are organisers of hotel investment community event the International Hotel Investment Forum Berlin and The AHC, a UK's leading hospitality event for independent hoteliers. 
Status: Closed

-INTERNATIONAL WESTERN PETROLEUM BUYS TEXAS GULF COAST ASSETS
Texas, US-based E/P company International Western Petroleum, Inc. (OTCQB: INWP) has executed a definitive purchase and sale agreement to purchase all assets of a privately held Houston-based E/P company in the Texas Gulf Coast region, the company said.

This agreement provides for a total purchase price of USD 2m to be paid by August 30, 2016, the scheduled date of closing.
Status: Closed

-ECOLAB INVESTS IN US WATER TREATMENT SYSTEMS FIRM AQUATECH
US-based hygiene technologies provider Ecolab Inc. has made a minority equity investment in Canonsburg, Pennsylvania-based water treatment solutions designer Aquatech International, the company said.
Ecolab is the parent company of US-based industrial water, energy and air applications provider Nalco Water. Through this relationship, Nalco Water increases its capabilities to provide customers with comprehensive end-to-end solutions to minimize net water usage and maximise process performance and productivity.
Status: Closed

-ASSA ABLOY ACQUIRES US INSTANT CARD ISSUANCE SPECIALIST DEMOTELLER
Sweden-based door opening solutions maker Assa Abloy (STO: ASSAB) has acquired US-based instant issuance solutions provider DemoTeller, the company said. The acquisition will be accretive to EPS from start.
DemoTeller was established in 1983 and has some 32 employees. The company is headquartered in Dallas, Texas. The company provides instant issuance solutions for banks and credit unions. Assa Abloy provides door opening solutions, dedicated to satisfying end-user needs for security, safety and convenience.
Status: Closed

-ITALY'S SUBA SEEDS TO ACQUIRE US BEAN SEED PRODUCER BROTHERTON
Italy-based specialty vegetable seeds distributor Suba Seeds USA, Inc. has acquired US-based pea and bean seed breeder and producer Brotherton Seed Company, Inc., the company said.
Established in 1936, Brotherton Seed produces pea and bean seeds for the North American processing market. It operates two production facilities in Central Washington State and has a long history of innovation and R/D, particularly in the area of pea improvement and in pioneering development of multi-podded pea varieties suitable for commercial use.
Status: Agreed

-MGT ACQUIRES ANTI-HACKING TECHNOLOGY FROM CYBERDONIX IN STOCK DEAL
US-based cyber security company MGT Capital Investments, Inc. (NYSE MKT: MGT) has bought technology from US-based real-time data visualisation company Cyberdonix, Inc. for 150,000 restricted shares of MGT stock.
MGT used the technology to produce Sentinel MGT, an intrusion monitoring system to protect corporate intranets from hacking threats. Sentinel MGT mitigates risk by greatly reducing the time a hacker has to operate inside protected networks, planting malware and stealing data.
Status: Closed

-VENDINI ACQUIRES NEW YORK TEAM FROM TICKETING SYSTEM CHARGED.FM
San Francisco, California-based live event software and services provider Vendini has acquired the Brooklyn, New York-based team from customer ticketing system Charged.fm, the company said.
Vendini has integrated the core Charged.fm engineering team and will be using its experience in the ticketing industry to enhance patron facing products along with building out internal infrastructure. This new talent will help build upon Vendini's all-in-one solution that includes marketing and donation tools, to CRM and reporting features, to mobile applications.
Status: Closed

-PLANET PAPER GROUP ACQUIRES PACKAGING MARKET RESEARCH SPECIALIST TRICOR POP
Canada-based packaging products maker Planet Paper Group has acquired Ohio-based market research company Tricor Pop, the company said.
This acquisition expands Planet Group's service to US markets and enhances End-to-End Display, Packaging and Merchandising Solutions. The family-owned business will operate as Planet Display and Packaging Inc.
Status: Closed

-PROPERTY FRAMEWORKS ACQUIRES ASSETS OF DALLAS SINGLE-FAMILY RESIDENTIAL MANAGER ONEPROP
US-based residential property management company Property Frameworks has acquired the assets of Dallas, Texas-based single-family residential property management company ONEprop, Inc., the company said.
Property Frameworks said that the acquisition adds four states to Property Frameworks' current market presence and deepens its existing operations within four states. The newly acquired operation will now do business as Property Frameworks.
Status: Closed

-POLO RESOURCES TO SELL STAKE IN KAZAKHSTAN E/P COMPANY EQUUS PETROLEUM
UK-based natural resources investment company Polo Resources Ltd. (LN: POL) has accepted a cash offer by The Netherlands-based holding company International Petroleum Holding B.V. to acquire its 1.95% equity interest consisting of 5.5m ordinary shares in Kazakhstan-based energy and petroleum company Equus Petroleum plc, the company said.
This offer has resulted in a net cash payment to Polo of approximately USD 1.05m (CDN 1.37m) and is expected to result in a total loss to Polo (including currency translation) of approximately USD 500,000.
Status: Agreed

-ASSUREDPARTNERS ACQUIRES FLORIDA AUTO INSURANCE FIRM
US-based insurance brokerage AssuredPartners, Inc. has acquired Florida-based home and auto insurance company Florida Insurance Specialists in conjunction with Challenge My Rate.com, the company said.
FIS focuses on personal insurance and has a reputation for quick closings and a niche for high value homes. The firm also founded the operations of Challenge My Rate.com which is a platform to help individuals save on home and auto quotes with a comparison tool for side-by-side evaluations.
Status: Closed

-ASSUREDPARTNERS ACQUIRES NEW JERSEY INSURANCE BROKER GERRITY, BAKER, WILLIAMS
US-based insurance brokerage AssuredPartners, Inc. has acquired Flanders, New Jersey-based insurance company Gerrity, Baker, Williams, Inc. (GBW Insurance), the company said.
GBW Insurance is a long-standing insurance broker in New Jersey focusing on business, personal and life insurance needs. The operations of GBW Insurance will combine with AssuredPartners current operations in Cranford, New Jersey.
Status: Closed