Deal Pipeline
Thursday 19 May 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-CHINESE WIND TURBINE MAKER GOLDWIND TO ACQUIRE RATTLESNAKE WIND PROJECT IN TEXAS
Chinese wind turbine manufacturer Xinjiang Goldwind Science and Technology Co., Ltd.'s US-based Goldwind Americas subsidiary has signed an agreement with Renewable Energy Systems Americas Inc. to acquire the 160mw Rattlesnake Wind Project located in McCulloch County, Texas, the company said.
Once operational, the project will become Goldwind's largest US wind project to date. The Rattlesnake Wind Project, located approximately 125 miles northwest of Austin, will utilise 64 Goldwind 2.5mw Permanent Magnet Direct-Drive wind turbines.
Status: Agreed

-BRYNWOOD PARTNERS TO SELL ZEST SOAP OWNER HIGH RIDGE BRANDS
US-based private equity firm Brynwood Partners VI L.P. has signed an agreement in principle to sell consumer products company High Ridge Brands Co. to funds managed by Clayton, Dubilier and Rice, the firm said.
The transaction, which is subject to regulatory approval and valued at USD 415m, is expected to close in 2Q16. Headquartered in Stamford, CT, High Ridge Brands Co., was formed by Brynwood Partners VI L.P. in December 2010 to purchase the Zest personal cleansing brand from Procter and Gamble and to serve as a platform for further acquisitions in the personal care consumer segment. Since then, the company has made five strategic add-on acquisitions acquiring the Alberto VO5 brand in the US and the worldwide marketing and brand rights to the Rave brand from Unilever.
Status: Agreed

-NQ MOBILE ENTERS DEFINITIVE AGREEMENT FOR SALE OF FL MOBILE
China-based mobile internet services provider NQ Mobile, Inc. (NYSE: NQ) has now entered into a definitive agreement for the sale of its FL Mobile majority-owned Cayman Islands subsidiary, the company said. 
The deal builds on a binding framework agreement announced on 26 August 2015 between the company and Beijing Jinxin Rongda Investment Management Co. Ltd., a subsidiary of Tsinghua Holdings Co. Ltd.
Status: Agreed

-CHINESE B-TO-B COMMERCE FIRM DANGDANG RECEIVES BUYOUT OFFER FROM CHAIRWOMAN, CEO
Chinese s-to-consumer e-commerce company E-Commerce China Dangdang Inc. (NYSE: DANG) has received a non-binding proposal from chairwoman Peggy Yu Yu and chief executive officer Guoqing Li to acquire all of the outstanding shares of the company not already owned by the buyer group at USD 6.50 per American depositary share or USD 1.30 per common share in cash, the company said.
A special committee of the company' sboard formed to consider the original proposal by the buyer group is evaluating this revised proposal with the assistance of its financial and legal advisors.
Status: Bidding

-PLAZA CENTERS SELLS BELGRADE PLOT FOR EUR 15.9M
Dutch property developer Plaza Centers N.V. (LSE: PLAZ) (TASE: PLAZ) has sold its wholly owned subsidiary, which holds the "MUP" plot and related real estate in Belgrade, Serbia, for EUR 15.9m (USD 17.84m), the company said.
According to Plaza Centers, the price came in above the last reported book value of circa EUR 13.5m. MUP is a development site at the location of the former Federal Ministry of Internal Affairs, at the entrance to Belgrade's old town and on the city's main thoroughfare.
Status: Closed

-RANGE RESOURCES TO ACQUIRE MEMORIAL RESOURCE DEVELOPMENT IN USD 4.4BN DEAL
US-based oil and natural gas producer Range Resources Corp. (NYSE: RRC) and US-based natural gas and oil company Memorial Resource Development Corp. (NASDAQ: MRD) have inked a definitive merger agreement under which Range will acquire all of the outstanding shares of common stock of MRD in an all-stock transaction valued at USD 4.4bn, the companies said. 
This valuation includes the assumption of MRD's net debt, which was USD 1.1bn as of 31 March 2016.
Status: Agreed

-JLL EXPANDS IN KENTUCKY WITH ACQUISITION OF HARRY K MOORE
US-based professional services and investment management firm JLL (NYSE: JLL) has acquired Louisville, US-based real estate company Harry K. Moore, the firm said. Harry K. Moore is a commercial real estate leader in leasing, investment sales and property management services for industrial and office buildings. 
The acquisition will strengthen JLL's industrial and office brokerage platform, and supports JLL's focus on the e-commerce trade area between Louisville, Indianapolis and Columbus.
Status: Closed

-INVESSENCE PARTNERS, LADENBURG THALMANN LAUNCH USDYMBIL DIGITAL ADVICE PLATFORM
US-based digital wealth management technology provider Invessence has partnered with financial services firm Ladenburg Thalmann Financial Services Inc. to launch a self-service online investment platform called USDymbil, the companies said.
The new service enables financial advisors of Ladenburg's affiliated broker-dealers the opportunity to reach a broader range of clients through the USDymbil platform.
Status: Closed

-LINCOLN ELECTRIC ACQUIRES ROBOTICS EXPERT VIZIENT MANUFACTURING
US-based welding equipment maker Lincoln Electric Holdings, Inc. (NASDAQ: LECO) has acquired US-based robotic integrator Vizient Manufacturing Solutions, the company said.
Vizient is specialised in custom engineered tooling and automated arc welding systems for general and heavy fabrication applications. The company is headquartered and operates in Bettendorf, Iowa and has operations in Brazil. Annual sales are approximately USD 40m.
Status: Closed

-NEW JERSEY LAW FIRMS PASHMAN STEIN, WALDER HAYDEN MERGE
New Jersey, US-based law firms Hackensack-based Pashman Stein P.C. and Walder Hayden P.A. have merged, the firms said.
The combined firm of 45 lawyers will be based out of Pashman Stein's offices in Hackensack. Pashman Stein's current managing partner, Michael Stein will lead the new firm. Walder Hayden, led by two trial attorneys, Justin Walder and Joe Hayden, is specialised in the areas of white collar criminal defense, legal ethics and appellate litigation.
Status: Closed

-RJD GREEN IN TALKS WITH HEALTHCARE ACQUISITION CANDIDATE
US-based holding company RJD Green (OTC: RJDG) has entered into discussions with the second acquisition candidate for its Healthcare Services Division, the company said.
The company is a wholesale supplier and manufacturer of unique products for the hospital and medical field supply chains with products such as disposable garments that offer exceptional performance within competitive costs. According to RJD Green, the candidate brings long-term national relationships, immediate growth opportunity, and leverages shared centralised operational and marketing expenses.
Status: Talks

-ENERVEST ACQUIRES USD 1.3BN IN EAGLE FORD ASSETS
US-based oil and gas field operator EnerVest, Ltd. and its institutional partnerships have closed new acquisitions in the Eagle Ford Shale, the company said.
Since September 2015, EnerVest has acquired USD 1.3bn of assets from three entities in a concentrated part of Karnes County, consistent with the company's strategy of building core positions in key operating areas. Combined, the acquired properties produce more than 17,000 barrels of oil equivalent per day.
Status: Closed

-THE PLEXUS ACQUIRES OKLAHOMA EMPLOYEE BENEFITS CONSULTANCY CABA
US-based insurance brokerage and risk management consultancy The Plexus Groupe LLC has acquired Oklahoma City-based employee benefits consultancy and administration services firm Caba, Inc., the company said. Founded over 30 years ago by chief executive officer Cher A. Bumps, Caba manages members within employee-sponsored benefit plans in all 50 states and has a multi-state client base.
Included in the transaction is the Caba employee assistance programme. Caba will be rebranded as Plexus.
Status: Closed

-KOREAN-AMERICAN BANKS BBCN, WILSHIRE RECEIVE REGULATORY CLEARANCE FOR MERGER
Los Angeles, US-based Korean-American bank holding companies BBCN Bancorp, Inc. (NASDAQ: BBCN) and Wilshire Bancorp, Inc. (NASDAQ: WIBC) have received approvals from all regulatory agencies required for closing the merger between BBCN and Wilshire completion, and its wholly owned subsidiary will operate under the new name of "Bank of Hope," the companies said.
The Federal Reserve Bank of San Francisco approved the proposed merger of Wilshire with and into BBCN. The Federal Deposit Insurance Corp. and California Department of Business Oversight, respectively, approved the proposed merger of Wilshire Bank, the bank subsidiary of Wilshire, with and into BBCN Bank, the bank subsidiary of BBCN.
Status: Agreed

-OPTICAL TECHNOLOGY SPECIALIST POET TO ACQUIRE BB PHOTONICS
Canadian semiconductor device and process developer POET Technologies Inc. (OTCQX: POETF) (TSX Venture: PTK) has signed a definitive agreement to acquire all the shares of BB Photonics Inc., the company said. BB Photonics a private designer of integrated photonic solutions for the data communications market. The all-stock deal is worth around USD 1.7m.
Status: Agreed

-FEDERAL, STATE BANKING REGULATORS CLEAR USD 229M TOWNEBANK, MONARCH FINANCIAL MERGER
The Federal Deposit Insurance Corp. and the Virginia State Corp. Commission have approved the regulatory applications filed in connection with Virginia, US-based bank holding company TowneBank's (NASDAQ: TOWN) acquisition of Monarch Financial Holdings, Inc. (NASDAQ: MNRK), the companies said.
Last December, the companies signed a definitive merger agreement under which TowneBank will acquire Monarch creating a USD 7.3bn bank serving Hampton Roads, Richmond and Northeastern North Carolina, the companies said. Based on financials reported on 30 September 2015 the combined companies would have total assets of USD 7.3bn, deposits of USD 5.8bn and loans of USD 5.4bn.
Status: Agreed

-KLX ACQUIRES AFTERMARKET AEROSPACE DISTRIBUTION BUSINESS
US-based aerospace fasteners and consumables provider KLX Inc. (NASDAQ: KLXI) has acquired supply chain management and consumables hardware distributor Herndon Aerospace and Defense, LLC, the company said.
Herndon principally serves military depot aftermarket customers, as well as commercial aerospace aftermarket customers. KLX through its two operating segments, provides products and logistical solutions.
Status: Closed

-SHELL MIDSTREAM PARTNERS ACQUIRES ADDITIONAL INTERESTS IN ONSHORE ASSETS
US-based midstream MLP Shell Midstream Partners, L.P. (NYSE: SHLX) has agreed to acquire additional equity interests in Zydeco Pipeline Co LLC (Zydeco), Bengal Pipeline Co LLC (Bengal), and Colonial Pipeline Co. (Colonial) from Anglo-Dutch oil and gas major Royal Dutch Shell plc's (NYSE: RDS.A) Shell Pipeline Co. LP subsidiary for USD 700m, the company said.
This acquisition will increase Shell Midstream Partners' interests in Zydeco to 92.5%, Bengal to 50.0%, and Colonial to 6.0%.
Status: Closed

-FRENCH SECURITY SOFTWARE FIRM OT ACQUIRES SOUTH AFRICAN CARD SUPPLIER XANTIUM
French security software products company OT (Oberthur Technologies) has acquired South African cards and personalisation services supplier Xantium Integrated Solutions (Xantium), the company said.
Xantium is a supplier of cards and personalization services to a range market segments including banks, retailers and third party payment processors in South Africa and several African countries. Through this acquisition, OT will grow its footprint in the Southern African market and strengthen its base in Johannesburg to address customers across the African continent.
Status: Closed

-NICE TO ACQUIRE CLOUD CONTACT CENTRE FIRM INCONTACT FOR USD 940M
US-based software group Nice (NASDAQ: NICE) has entered a definitive agreement to acquire cloud contact centre specialist inContact (NASDAQ: SAAS), the company said.
Under the terms of the agreement, Nice will acquire inContact for USD 14 per share in cash. The transaction values inContact at approximately USD 940m, including repayment of inContact's outstanding convertible debt and excluding inContact cash on hand. Nice plans to finance the acquisition with cash on hand as well as debt of up to USD 475m.
Status: Agreed

-CBRE GROUP TO ACQUIRE A 49% STAKE IN MALAYSIAN REAL ESTATE SERVICES FIRM
US-based commercial real estate services and investment firm CBRE Group, Inc. (NYSE: CBG) has entered into an agreement to acquire a 49% interest in Malaysian real estate services provider C H Williams Talhar and Wong Sdn Bhd, WTW Real Estate Sdn Bhd and WTW Property Services Sdn Bhd., the company said.
The business will rebrand as CBRE | WTW and be led by Mr Foo Gee Jen and Mr Danny SK Yeo, the current leaders of WTW and highly respected real estate professionals in Malaysia.
Status: Agreed

-HORMEL FOODS TO ACQUIRE TEXAS NUT BUTTER SNACK BRAND JUSTIN'S
US-based food company Hormel Foods Corp. (NYSE: HRL) has entered into a definitive agreement to acquire Texas nut butter-based snacking specialist Justin's, LLC, the company said.
Hormel will pay USD 286m for the company. Justin's markets four nut butter-based snack lines spreads, squeeze packs, peanut butter cups and snack packs. The company will continue operating out of their office in Boulder, Colorado, as a subsidiary in Hormel's grocery products segment.
Status: Agreed

-MIDDLEBY TO ACQUIRE ICE MACHINE MAKER FOLLETT
US-based foodservice equipment company The Middleby Corp. (NASDAQ: MIDD) has agreed to acquire US-based ice machine maker Follett Corp., the company said.
Follett is a manufacturer of ice machines, ice and water dispensing equipment, ice storage and transport products and medical grade refrigeration products for the foodservice and healthcare industries. The company, which is headquartered in Easton, Penn., has approximately USD 140m in annual revenues.
Status: Agreed

-ALLEGION TO ACQUIRE GERMAN PORTABLE SECURITY FIRM TRELOCK
Irish security products and solutions provider Allegion, plc (NYSE: ALLE) has agreed to acquire German portable security firm Trelock GmbH and related companies through one of its subsidiaries, the company said.
The transaction is expected to close in 2Q16 or 3Q16 of this year, subject to regulatory approvals. Trelock is a portable safety and security provider headquartered in Münster, Germany, producing branded bicycle locks, lights and electronic control units.
Status: Agreed

-REALPAGE ACQUIRES ASSETEYE REAL ESTATE INVESTMENT MANAGEMENT SOFTWARE
US-based rental housing software company RealPage, Inc. (NASDAQ: RP) has acquired real estate technology firm AssetEye, Inc., the company said. The acquisition purchase price of USD 4.8m, net of cash acquired, is subject to certain adjustments.
AssetEye is a data aggregation, reporting and collaboration platform for institutions holding multiple real estate asset classes. The acquisition will serve to expand RealPage's SaaS offering to serve all asset classes, including commercial, hospitality, multifamily, single family, senior living and student housing.
Status: Closed

-REPUBLIC BANK AND TRUST CLOSES USD 32.3M ACQUISITION OF FLORIDA'S CORNERSTONE COMMUNITY BANK
Kentucky, US-based bank holding company Republic Bancorp, Inc. (NASDAQ: RBCAA) has closed the acquisition of Florida, US-based bank holding company Cornerstone Bancorp, Inc. in a USD 32.3m cash deal the company said.
Cornerstone Bancorp is the parent company of Cornerstone Community Bank. Under the terms of the agreement, the company acquired all of Cornerstone's outstanding common stock in an all-cash transaction, resulting in a total cash payment to Cornerstone's existing shareholders and stock option holders of approximately USD 32.3m.
Status: Closed

-ELSEVIER ACQUIRES SOCIAL SCIENCE AND HUMANITIES REPOSITORY, ONLINE COMMUNITY
Dutch academic publisher Elsevier has acquired Rochester, NY-based scholarly research preprint repository and online community Social Science Research Network, the company said.
SSRN was founded in 1994. It will be further developed alongside Mendeley, a London-based free reference manager and scholarly collaboration network owned by Elsevier. Elsevier said that SSRN members will benefit from the Mendeley technology platform, its scholarly collaboration network, a leading reference manager and other personal library management tools.
Status: Closed

-ISRAELI COURT UPHOLDS DECISION BY TRUSTEES OF MEGA RETAIL TO SELL ALON BLUE SQUARE TO BITAN WINES
The District Court in Lod, Israel upheld the decision of the trustees of Mega Retail to sign an agreement with a subsidiary of Bitan Wines Ltd. for the acquisition of Israeli retail company Alon Blue Square Israel Ltd. (NYSE: BSI), the retail company said.
This court decision was delivered after a court hearing held following a motion filed with the court by, among others, Ben Moshe and a company under his control, who had submitted one of the other offers to acquire Mega Retail which was not chosen by the trustees and whose proposed offer to acquire Mega Retail was included as part of the company's proposed debt arrangement filed by the company with the court on 9 May 2016.
Status: Agreed

-GREAT WESTERN BANCORP SETTLES MERGER CONSIDERATION, ALLOCATION IN USD 139.5M ACQUISITION OF HF FINANCIAL
US-based bank holding company Great Western Bancorp, Inc. (NYSE: GWB) has received the results of elections made by stockholders of HF Financial Corp. (NASDAQ: HFFC) as to the form of merger consideration they desire to receive, and the related allocation and proration results of the merger consideration, in connection with the merger of HF Financial with and into Great Western, the company said.
On 16 May, Great Western Bancorp closed its USD 139.5m acquisition of HF Financial.
Status: Agreed

-US DRUGMAKER GILEAD CLOSES ACQUISITION OF NIMBUS DRUG PROGRAMME IN USD 1.2BN DEAL
US-based biopharmaceutical company Gilead Sciences, Inc. (NASDAQ: GILD) has closed the acquisition of Cambridge, Massachusetts-based biotechnology firm Nimbus Therapeutics LLC's Nimbus Apollo, Inc. subsidiary and its Acetyl-CoA Carboxylase inhibitor programme, the company said.
Under the deal Nimbus Therapeutics received an upfront payment of USD 400m, with the potential to receive an additional USD 800m in development-related milestones over time. The Nimbus Apollo programme includes the lead candidate NDI-010976, an ACC inhibitor, and other preclinical ACC inhibitors for the treatment of non-alcoholic steatohepatitis, and for the potential treatment of hepatocellular carcinoma and other diseases.
Status: Closed

-MAGNITUDE SOFTWARE BUYS DATA WAREHOUSE SOLUTIONS VENDOR DATALYTICS
US-based enterprise information management software company Magnitude Software has acquired data warehouse solutions firm Datalytics Technologies LLC, the company said.
Datalytics enables customers to organise and manage hard-to-understand enterprise resource planning data trapped in hybrid systems. Magnitude Software provides pre-packed solutions for operational and analytical reporting for the most commonly sought after functional business areas, at a fraction of the time and cost required to compile these reports by hand.
Status: Closed

-INTEGRATED DERMATOLOGY BUYS ILLINOIS, US PRACTICE
US-based dermatology practice Integrated Dermatology Group has expanded its presence in Illinois with the acquisition of the practice of Dr. Loris Tisocco, the group said.
Tisocco will continue to serve as medical director of the practice now known as Integrated Dermatology of Calumet City, LLC. For close to 30 years, he has been practicing general, surgical, and cosmetic dermatology in the South Suburbs of Chicago and Northwest Indiana.
Status: Closed