Deal Pipeline
Tuesday 19 June 2018
The following is a list of deals covered in detail by M and A Navigator this week:

-NOBINA ACQUIRES SWEDISH PUBLIC TRANSPORT SERVICES PROVIDER SAMTRANS FOR SEK 225M

Sweden-based bus transport group Nobina has agreed to acquire Sweden-based public transport services provider Samtrans Skol- och Handikapptransporter Stockholm AB from TransportIT Group AB, the company said.
The purchase price comprises a fixed consideration of SEK 225m (USD 25.5m) (on a cash and debt free basis), which will be paid upon the transfer of Samtrans' shares, and a potential additional consideration of up to SEK 225m, which is based on the outcome of certain predefined financial targets and forecasts and will be paid in installments during the period 2019–2020.
Status: Agreed


-STONE CANYON TO ACQUIRE INDUSTRIAL CONTAINER SERVICES FOR USD 1BN

Georgia, US-based rigid packaging products and services provider BWAY Holding Company, a subsidiary of California, US-based Stone Canyon Industries LLC (SCI) has agreed to acquire the parent holding company of container solutions provider Industrial Container Services (ICS), the company said.
ICS is currently majority-owned by investment funds affiliated with Centerbridge Partners, L.P. The transaction, which is comprised of cash and stock consideration payable to ICS shareholders, has an enterprise value of approximately USD 1bn. It is anticipated that on a pro forma basis, after giving effect to the acquisition, existing ICS equityholders will have an approximate 11% interest in BWAY.
Status: Agreed


-GENOMMA LAB ACQUIRES BUFFERIN, CHERACOL D, ROSE MILK BRANDS

Mexico-based pharmaceutical and personal care products company Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) has purchased three US-based over-the-counter brands in two separate transactions as part of its strategy to strengthen its presence in the US branded consumer health market, the company said.
A total investment of USD 3.02m was paid fully in cash. Genomma Lab USA Inc., the company's US subsidiary, recently acquired the Bufferin brand from Dr. Reddy's Laboratories Ltd., and in a separate transaction acquired the Cheracol D and Rose Milk brands from Sheffield Pharmaceuticals, LLC.
Status: Closed


-AMERICAN MEDIA TO ACQUIRE CELEBRITY/KIDS GROUP TITLES FROM BAUER MEDIA

New York, US-based celebrity and health and fitness magazine publisher American Media, Inc. has agreed to acquire 13 brands from New Jersey, US-based publisher Bauer Media USA, the company said
The addition of the Bauer titles, including In Touch, Life and Style, and Closer as well as the nine brands that make up the Bauer Teen Group, including J-14 and Girls World, will now be part of the AMI Entertainment Group.
Status: Agreed


-PHOENIX INVESTORS ACQUIRES 402,000 SQUARE-FOOT INDUSTRIAL FACILITY

An affiliate of Wisconsin, US-based commercial real estate firm Phoenix Investors has acquired a 402,000 square-feet industrial and office building Athens, Pennsylvania, the company said.
The subject property is a vacant former Ingersoll Rand manufacturing plant. Phoenix intends on renovating the facility in a first-class manner, bringing it to modern standards.
Status: Closed


-SOPHIA GENETICS ACQUIRES FRANCE-BASED INTERACTIVE BIOSOFTWARE

Italy based data-driven medicine company Sophia Genetics has completed the acquisition of French-based tech company Interactive Biosoftware, the creators of Alamut, decision support software for clinical genomic data interpretation, the company said.
Alamut is currently deployed in over 450 hospitals and is highly complementary to Sophia Genetics' offering. This will further accelerate the adoption of data-driven medicine around the world.
Status: Closed


-ROSS W ALBERS LAW FIRM ACQUIRES JAMES R BARRETT LAW OFFICES

Maryland, US-based law firm Ross W. Albers (RWA) has acquired Maryland-based Law Offices of James R. Barrett, marking the second acquisition in as many months for Albers, the firm said.
In the previous year, RWA has been adding practice areas and staff to serve more clients across Maryland. The Law Office of James R. Barrett will be consolidated with the existing RWA office located at 15 E Main St #102, Westminster, MD 21157. This is the fifth expansion in the prior twelve months for Albers.
Status: Closed


-CHRIS BERGMAN ACQUIRES BIOPROTEIN TECHNOLOGY TO BECOME PRESIDENT, CEO

US business executive Chris Bergman has acquired Florida, US-based all-natural nutritional products supplier BioProtein Technology (BPT), assuming the role of president and CEO of BPT, the company said.
Since 2011, Chris has played a major role in building the success of BPT having spent time in sales, research and development, and business development departments.
Status: Closed


-MERCHANTS BANCORP'S JOY STATE BANK TO ACQUIRE FARMERS-MERCHANTS NATIONAL BANK OF PAXTON

Indiana, US-based bank holding company Merchants Bancorp (NASDAQ: MBIN) and its Illinois, US-based Joy State Bank subsidiary along with Illinois, US-based FM Bancorp Inc. have entered into an agreement and plan of merger whereby FM Bancorp and its subsidiary, Farmers-Merchants National Bank of Paxton , will merge with and into Merchants and Joy, respectively, the companies said.
Merchants expects the transaction to close in 4Q18. The transaction is subject to customary closing conditions, including regulatory approvals and the approval of FM Bancorp's shareholders.
Status: Agreed


-STATE 23 MEDIA ACQUIRES MAINE COLLECTIVE'S ASSETS

Maine, US-based media company State 23 Media, LLC has acquired all print, event, and digital media assets from Maine Media Collective, including Maine Magazine, Maine Home+Design, and Old Port magazine, the company said.
Formed with the purpose of acquiring these prominent Maine brands, State 23's investors include media and business leaders from Maine, New England, and other national markets. Adam Japko, the founder and CEO of Esteem Media (New England Home, Atlanta Homes and Lifestyle, Design Bloggers Conference, etc.) is a lead investor and will work closely with Andrea King, who will lead these brands as CEO. 
Status: Closed


-LENDER GROUP LED BY FRANKLIN ADVISORS ACQUIRES BANKRUPT PAPER MAKER APPVION

Bankrupt US-based paper maker Appvion, Inc has closed the sale of substantially all of the company's assets to a group of its lenders led by Franklin Advisers, Inc., the company said.
The transaction will significantly reduce Appvion's debt, provide additional liquidity, and better position the company to compete long-term in the evolving specialty paper market and further invest in the innovation that has made it a market leader. The total consideration was approximately USD 365m, plus the assumption of substantial liabilities, including many of the company's contractual obligations.
Status: Closed


-COMCAST SUBMITS COMPETING BID FOR 21ST CENTURY FOX

US-based media company Twenty-First Century Fox, Inc. (NASDAQ: FOX) has received an unsolicited, written proposal from US-based Comcast (NASDAQ: CMCSA) to acquire the same businesses that 21st Century Fox previously agreed to sell to The Walt Disney Company (NYSE: DIS), including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, the company confirmed last week.
As with 21st Century Fox's pending transaction with Disney announced in December 2017, Comcast's proposal contemplates that prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FOX Sports, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.
Status: Bidding


-WATCH OUT! ACQUIRES CRYPTOCURRENCY MICROPAYMENTS SPECIALIST BITWALL

US-based recall and safety notifications provider Watch Out! Inc. has acquired cryptocurrency micropayments and social currency specialist BitWall Co., the company said.
BitWall is primarily known for launching a first-of-its-kind Bitcoin and Twitter-powered paywall with the Chicago Sun-Times, one of the 10 largest US newspapers. This acquisition of BitWall allows Watch Out! to further bolster its efforts in crypto-enabled payment mechanisms and additional blockchain-based innovations.
Status: Closed


-CANWEL COMPLETES ACQUISITION OF SUPERIOR FOREST PRODUCTS' OREGON PRESSURE TREATING PLANT

Canada-based building materials distributor CanWel Building Materials Group Ltd.'s (TSX: CWX) CanWel Building Materials Ltd. subsidiary has acquired the lumber pressure treating plant and related equipment and business formerly owned by Superior Forest Products, Inc. and affiliates, the company said.
The plant is located in Junction City, Oregon and is under construction and is expected to be operational towards the end of 2018. The purchase price for the plant was satisfied in cash from existing credit facilities of the CanWel group.
Status: Closed


-SOUTHERN MISSOURI BANCORP TO ACQUIRE GIDEON BANCSHARES IN USD 22.7M DEAL

US-based bank holding company Southern Missouri Bancorp, Inc. (NASDAQ: SMBC) and Gideon Bancshares Company, the 92% owner of First Commercial Bank, have signed a definitive merger agreement whereby Southern Missouri will acquire Gideon in a stock and cash transaction, the companies said.
Gideon operates ten locations in southeast Missouri. At March 31, 2018, Gideon's consolidated assets were USD 223m, including loans, net of allowance, of USD 145m, while deposits totaled USD 176m. Southern Missouri reported consolidated assets at March 31, 2018, of approximately USD 1.8bn, including loans, net, of USD 1.5bn, and total deposits of USD 1.6bn.
Status: Agreed


-INSPIRATA ACQUIRES HEALTH ANALYTICS FIRM CARADIGM

US-based cancer informatics and digital pathology workflow solution provider Inspirata, Inc. has acquired the Redmond, Washington-based Caradigm health analytics business from GE Healthcare, the company said.
The company's award-winning Caradigm Intelligence Platform and population health management software portfolio spans data control; healthcare analytics; and care coordination and engagement across the entire healthcare enterprise, including large integrated delivery networks, accountable care organizations, clinically integrated networks, academic medical centers and community hospital networks.
Status: Closed


-GLOBAL CONSORTIUM SEEKS FAIRNESS OPINION ON PENDING ACQUISITION

Bahamas Development Corp. (OTC: BDCI) subsidiary company Global Consortium, Inc. DBA Cannabis Consortium and its partners have decided to retain a third party company to prepare a fairness opinion on the pending acquisition of an operating established Cannabis Distillate and brand in California, the company said.
Under the deal, Indulge Oils  is being acquired for USD 4m dollars consisting of USD 2m in cash and USD 2m in equity of Global Consortium. The projected assets could exceed USD 20m and may be twice that projection based on various projects in the works. The two sides have committed to a transaction and have agreed that the payment will be a combination of cash and stock.
Status: Agreed


-TWIN DISC TO ACQUIRE MARINE SUPPLIER VETH PROPULSION FOR USD 59M

US-based power transmission technology and equipment provider Twin Disc, Inc. (NASDAQ: TWIN) has entered into a definitive agreement to acquire Dutch marine propulsion products Veth Propulsion Holding, B.V. and its wholly-owned subsidiaries, the company said.
The purchase price is approximately USD 58.6m (EUR 49.7m) plus net cash, with potential adjustments based on Veth Propulsion's working capital as of the closing date, and will be financed through a combination of cash and new debt facilities.
Status: Agreed


-LIBERATED SOLUTIONS TO ACQUIRE ADVANCED INTERACTIVE GAMING

US-based green energy services holding company Liberated Solutions, Inc. (OTC: LIBE) has executed a letter of intent to acquire video game publisher Advanced Interactive Gaming, Ltd.(AIG) and all its assets, the company said.
Financial terms will be available once the closing contracts and auditing process has been completed. Conditions of the transaction include, but are not limited to AIG acquiring Metricminds GmbH and Co KG and the settlement of all LIBE's convertible debt. AIG finances, leads development and co-publishes video games for popular gaming platforms, targeting a gaming market of 100+ m consoles, 250+ m PCs, and 400+ m handheld devices.
Status: Agreed


-SOFTWARE INTELLIGENCE COMPANY CAST ACQUIRES ANTELINK

US-based software intelligence company CAST has acquired software composition analysis specialist Antelink, the company said.
Antelink was founded by France-based Inria, a public science and technology institution dedicated to computer science learning. The acquisition includes all of Antelink's intellectual property, software assets, source code and associated patents.
Status: Closed


-RAVENQUEST PLANS TO BUY MAJORITY STAKE IN ELEPHANT EXTRACTS

Canadian cannabis company RavenQuest BioMed Inc. (CSE: RQB) has entered into a letter of intent with 1090252 B.C. Ltd. in pursuit of a transaction involving the acquisition of 51% of the outstanding share capital of Elephant Extracts, the company said.
Elephant Extracts is a license applicant under the Access to Cannabis for Medical Purposes Regulations, as well as a distributor of cannabis products and accessories. The Health Canada application for Elephant Extracts includes a 10,000 square foot production facility, which will be classified as a "micro-cultivator" license upon passing of the Cannabis Act in Canada.
Status: Agreed


-ARROWSTREAM ACQUIRES AMERICAN RESTAURANT ASSOCIATION

US-based foodservice management technology and data solution provider ArrowStream has acquired US-based food commodity economic and sourcing expertise provider American Restaurant Association, the company said.
ArrowStream's acquisition of ARA brings more than 200+ new customers and extensive new product capabilities to its suite of data and technology offerings. New solutions include Commodity Price Data, Analysis and Forecasting solutions, and the innovative ChainBrain, a collaborative sourcing platform that allows customers to search and connect with potential suppliers and electronically manage RFPs.
Status: Closed

-ORION BIOTECHNOLOGY CANADA ACQUIRES POLISH DRUG DEVELOPER K2BIOMEDICAL

Canadian drug developer Orion Biotechnology Canada Ltd has acquired Polish specialty pharmaceutical research firm K2Biomedical, the company said. The acquisition will add drug development capabilities to Orion biotechnology in Europe.
Founded in 2015, K2Biomedical was initially focused on the prevention of Sexually Transmitted Infections, including HIV. With this acquisition K2Biomedical becomes Orion biotechnology Poland SP. Z O.O. The new entity will continue to be headquartered in the Jagiellonian Centre of Innovation in Cracow (Malopolska), Poland, focused on developing new technologies and product candidates for the global market.
Status: Closed


-RECALL STUDIOS TO ACQUIRE ARTIFICIAL INTELLIGENCE FIRM EVOLUTION AI CORP FOR USD 200M

US-based Recall Studios (OTC: BTOP) has inked a definitive agreement under which it will acquire artificial intelligence technology firm Evolution AI Corp., the company said. Evolution AI is engaged in the development of hyper-realistic human animation technology to enable leading Artificial Intelligence platforms to interact with consumers in a relatable human form.
The acquisition will also include Evolution AI Corp.'s majority stake in Pulse Evolution Corp. (OTC: PLFX), a pioneer in the development of hyper-realistic digital humans for live shows, virtual reality, augmented reality, holographic, 3D stereoscopic, web, mobile, interactive and artificial intelligence applications.
Status: Agreed


-HEXAGON ACQUIRES ONLINE TRAINING SERVICE PIPINGDESIGNONLINE

Swedish digital solutions company Hexagon's PPM division has acquired US-based design training website PipingDesignOnline.com, the company said.
Hexagon's PPM division is a provider of asset lifecycle solutions for design, construction and operation of industrial facilities. The PipingDesignOnline website offers self-paced, in-depth training for CADWorx plant design software, CAESAR II pipe stress analysis software, and PV Elite pressure vessel analysis software.
Status: Closed

-A SCHULMAN WINS SHAREHOLDER NOD FOR USD 2.25BN LYONDELLBASSELL BUYOUT
Shareholders of US-based plastic compounds supplier A. Schulman, Inc. (NASDAQ: SHLM) have approved a merger agreement under which US-based plastics, chemicals and refining company LyondellBasell's (NYSE: LYB) LyondellBasell Industries N.V. unit will acquire all of the outstanding shares of A. Schulman common stock, the company said.
This deal was announced in February. The total consideration is USD 2.25bn. The acquisition builds upon LyondellBasell's existing platform in this space to create an advanced polymer aolutions business with broad geographic reach, leading technologies and a diverse product portfolio.
Status: Agreed

-NEP CLOSES ACQUISITION OF ITALIAN BROADCAST SOLUTIONS PROVIDER TELERECORD
US-based outsourced technical production partner NEP Group has completed its acquisition of Italy-based outside broadcast solutions provider Telerecord, the company said. Telerecord, a local firm, covers popular sporting events in Italy and throughout Southern Europe including football, ice hockey and bobsleigh.
The deal further diversifies NEP's business and expands its reach in Europe by adding additional local resources and talent.
Status: Closed

-BLOCK ONE CAPITAL TO ACQUIRE 30% OF AFFIRMATION TECHNOLOGY
Canadian investment company Block One Capital Inc. (TSX Venture: BLOK) (OTCQB: BKPPF) (Frankfurt: ES3) has entered into a definitive agreement with Affirmation Technology Group LLC to acquire 30% of the New York, USA based developer of decentralised anti-money laundering, know your customer and Accredited Investor solutions, the company said.
Under the terms of the definitive agreement, the company has acquired 30% of the blockchain technology company, with an option to acquire an additional 10%. Affirmative Technology provides the technical infrastructure to power a suite of decentralized compliance solutions through the INTELid platform.
Status: Agreed

-SILVER LAKE AND P2 CAPITAL PARTNERS COMPLETE ACQUISITION OF FINANCIAL TECHNOLOGY FIRM BLACKHAWK
US-based technology investing firm Silver Lake and US-based investment firm P2 Capital Partners have closed the acquisition of US-based financial technology company Blackhawk Network Holdings, Inc, the firms said.
The USD 3.5bn deal was announced on 16 January. Under the terms of the transaction, Blackhawk stockholders are entitled to receive USD 45.25 per share in cash. As a result of the completion of the acquisition, Blackhawk's common stock has ceased trading as of on the NASDAQ Stock Market.
Status: Closed

-UBM ACQUIRES EXPOMED AND LIVE HEALTHCARE EXHIBITIONS AND CONFERENCES IN LATIN AMERICA
UK-based business-to-business events organiser and marketing services organisation UBM plc's (LSE: UBM-LN) Latin America businesses have acquired ExpoMed (Mexico) and LiveMed and Live Healthcare (Brazil) from founders Dr. Vitor Assentuno and Dr. Raphael Gordilho, the company said.
Through these acquisitions, UBM continues to grow its portfolio of healthcare events and further expands its position as a leader in the Latin America healthcare sector. ExpoMed is Mexico's leading, annual healthcare exhibition and runs each June in Mexico City.
Status: Closed

-LIGHTWAVE LOGIC ACQUIRES THE POLYMER TECHNOLOGY INTELLECTUAL PROPERTY ASSETS OF BRPHOTONICS
US-based photonic technology company Lightwave Logic, Inc. (OTCQB: LWLG) has acquired the polymer technology intellectual property assets of Brazil-based BrPhotonics Productos Optoelectrónicos S.A., the company said.
Lightwave Logic said the acquisition significantly advances its patent portfolio of electro-optic polymer technology with 15 polymer chemistry materials, devices, packaging and subsystems patents. It further strengthens the company's design capabilities to solidify its market position as it prepares to enter the 400Gbps integrated photonics marketplace with a highly competitive, scalable alternative to installed legacy systems.
Status: Closed

-WAVE COMPUTING ACQUIRES RISC PROCESSOR IP FIRM MIPS
US-based dataflow-based solutions provider Wave Computing has acquired RISC processor intellectual property and licensable CPU cores provider MIPS Tech, Inc. (formerly MIPS Technologies), the company said.
The acquisition will accelerate Wave's strategy of offering AI acceleration from the Datacenter to the Edge of Cloud by extending the company's products beyond AI systems to now also include AI-enabled embedded solutions.
Status: Closed

-LIBERO COPPER ACQUIRES THE MOCOA PORPHYRY COPPER DEPOSIT FROM B2GOLD
Canadian miner Libero Copper Corp. (TSX Venture: LBC) (OTCQB: LBCMF) has closed a deal to acquire 100% of the Mocoa porphyry copper-molybdenum deposit in Colombia from B2Gold Corp. the company said. Libero Copper has issued 10.4m common shares to B2Gold comprising a 19% stake in Libero Copper and granted B2Gold a right to participate in future equity financings to maintain its then current stake.
B2Gold has retained a 2% net smelter returns royalty on the project and granted Libero Copper a right of first refusal on a sale of the royalty.
Status: Closed

-PERRY ELLIS INTERNATIONAL AGREES TO USD 437M BUYOUT LED BY FOUNDER
US-based apparel, accessories and fragrances brand Perry Ellis International (NASDAQ: PERY) has entered into a definitive merger agreement under which a newly formed entity controlled by George Feldenkreis, Perry Ellis' founder and member of the company's board of directors, will acquire all of the outstanding common shares of Perry Ellis not already beneficially owned by the Feldenkreis family for USD 27.50 per share in cash, the company said.
Additionally, the company and George Feldenkreis have agreed to defer the next annual meeting for the election of directors while the merger agreement is pending.
Status: Agreed