Deal Pipeline
Tuesday 02 August 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-STEEL DYNAMICS CLOSES USD 126M ACQUISITION OF ALABAMA, US-BASED THREADED PRODUCTS SUPPLIER
US-based steel producer and metals recycler Steel Dynamics, Inc. (NASDAQ-GS: STLD) has closed the acquisition of US-based threaded rod products supplier Vulcan Threaded Products, Inc., the company said. Established in 1978, Vulcan is based outside of Birmingham, Alabama and is the nation's largest manufacturer and supplier of threaded rod products, and also produces cold drawn and heat treated bar.
Steel Dynamics bought Vulcan for USD 126m, inclusive of USD 42m in working capital, which is subject to typical post-closing adjustments. 
Status: Closed

-MGM RESORTS, MGM GROWTH PROPERTIES CLOSE ACQUISITION OF BORGATA HOTEL CASINO AND SPA
US-based resort and casino operator MGM Resorts International (NYSE: MGM) has closed the acquisition of Boyd Gaming Corp.'s (NYSE: BYD) 50% interest in Borgata Hotel Casino and Spa in Atlantic City, New Jersey for consideration of USD 900m, the company said.
Further, MGM Resorts and MGM Growth Properties LLC (NYSE: MGP) have entered into a definitive agreement whereby, following the completion of the acquisition of Boyd Gaming's interest, MGP will acquire Borgata's real property from MGM Resorts and lease back the real property to a subsidiary of MGM Resorts, after which a subsidiary of MGM Resorts will operate Borgata.
Status: Closed

-LAND O'LAKES CLOSES USD 17.2M ACQUISITION OF AGRICULTURAL BIOTECHNOLOGY FIRM CERES
US-based agribusiness Land O'Lakes closed the acquisition of the outstanding capital stock of US-based agricultural biotechnology company Ceres, Inc. (NASDAQ: CERE) in a transaction valued at approximately USD 17.2m, the company said.
Under the terms of the merger agreement, Land O'Lakes (through its wholly owned subsidiary, Roman Merger Sub, Inc.) completed a tender offer for all outstanding shares of Ceres common stock for USD 0.40 per share, in cash.
Status: Closed

-SALE OF HARVARD SAVINGS BANK TO THE STATE BANK GROUP CLOSES
US-based bank holding companies The State Bank Group and Harvard Illinois Bancorp, Inc. have completed the pending sale of Harvard Savings Bank, the wholly owned subsidiary of Harvard Illinois Bancorp, Inc., the companies said.
Under the deal, State Bank, the wholly-owned bank subsidiary of The State Bank Group's parent company, Wonder Bancorp, Inc. acquired certain of the assets, and assume certain of the liabilities, of Harvard Savings Bank.
Status: Closed

-CARS.COM CLOSES ACQUISITION OF CAR DEALER REVIEW WEBSITE DEALERRATER
US-based media and digital business Tegna Inc.'s (NYSE: TGNA) affiliate company Cars.com has closed the acquisition of automotive consumer review website DealerRater, the company said.
Since Cars.com launched its reviews in 2011, the company has maintained its transparent model for generating consumer feedback, which better serves shoppers and customers. The addition of DealerRater and its review database further strengthens this value proposition. Cars.com serves as an intermediary, helping both consumers and dealers.
Status: Closed

-SMITH AND WESSON'S BATTENFELD TECHNOLOGIES CLOSES USD 85M ACQUISITION OF US KNIFE MAKER TAYLOR BRANDS
US-based firearms maker Smith and Wesson Holding Corp.'s (NASDAQ: SWHC) Battenfeld Technologies, Inc. accessories division has closed the acquisition of Kingsport, Tennessee-based knife maker Taylor Brands, LLC, the company said.
The company formed a subsidiary called BTI Tools, LLC, specifically to acquire the assets of Taylor Brands. Under the deal, BTI Tools paid USD 85m for Taylor Brands, utilising cash on hand. Taylor Brands has been a long-standing licensee for both Smith and Wesson and M/P branded knives and is the direct owner of a number of legacy brands.
Status: Closed

-TRINA SOLAR AGREES TO USD 1.1BN 'GOING PRIVATE' TRANSACTION
Chinese photovoltaic modules, solutions, and services provider Trina Solar Ltd. (NYSE: TSL) has entered into a definitive agreement and plan of merger with Fortune Solar Holdings Ltd. and Red Viburnum Co Ltd. under which the company will be acquired by an investor consortium in an all-cash transaction implying an equity value of the company of approximately USD 1.1bn, the company said.
In February, the company announced that it had received a preliminary non-binding proposal letter from its chairman and chief executive officer, Jifan Gao, and Shanghai Xingsheng Equity Investment and Management Co., Ltd. to acquire all of the outstanding shares of the company not owned by the buyer group. Shanghai Xingsheng Equity Investment and Management is a subsidiary of Industrial Bank Co., Ltd.
Status: Agreed

-NATIONAL PARKINSON FOUNDATION, PARKINSON'S DISEASE FOUNDATION COMPLETE MERGER
US-based non-profits The National Parkinson Foundation and the Parkinson's Disease Foundation have finalised the merger of the two non-profit organisations, the principals said. Post-merger, the organisation will operate as the Parkinson's Foundation with offices in New York City and Miami.
The Parkinson's Foundation will be governed by a board of directors that will include 11 members from each of the legacy organisations. A search committee of the board has been formed to recruit a new chief executive officer for the organisation.
Status: Closed

-KENT PRECISION FOODS GROUP ACQUIRES FLEXIBLE PACKAGING SUPPLIER POUCHTEC INDUSTRIES
US-based food products and animal feed manufacturer Kent Corp and US-based flexible packaging supplier PouchTec Industries, LLC have inked an agreement for Kent subsidiary Kent Precision Foods Group to acquire PouchTec, the company said.
KPFG is a dry and liquid food manufacturing company that specialises in providing high quality products in the domestic and international foodservice, healthcare, industrial and consumer markets. PouchTec Industries, a food and liquid packaging company based in Foley, Minnesota specialises in the manufacturing of flexible packaging solutions for some of the largest multi-national food and beverage companies in the world.
Status: Closed

-TDK'S EPCOS UNIT TO ACQUIRE SENOR FIRM TRONICS IN EUR 48.65M DEAL
Japanese electronics company company TDK Corp. (TOKYO: 6762) and French nano and microsystems technology firm Tronics Microsystems SA have inked a deal under which TDK's Germany-based EPCOS AG electronic components, modules and systems subsidiary will acquire Tronics, the companies said.
Under the deal, EPCOS will launch a public tender offer for all publicly-held shares of Tronics for EUR 13.20 per share. On a fully-diluted equity value basis, the transaction represents a value of Tronics' equity of approximately EUR 48.65m (USD 54.32m).
Status: Agreed

-ARTISAN INFRASTRUCTURE REBRANDS AS NEVERFAIL, ACQUIRES WORKSPACE-AS-A-SERVICE SPECIALIST VERTISCALE
US-based cloud infrastructure, cloud management and business continuity solutions company Artisan Infrastructure has renamed the company Neverfailand and acquired Workspace-as-a-Service technology developer Vertiscale, the company said.
Vertiscale is developer of Workspace-as-a-Service technology for managed service providers. Neverfail Workspaces (formerly Vertiscale) software enables providers to offer secure remote access to data and applications for their customers, enabling mobility, BYOD and security that can be accessed from any device at any time.
Status: Closed

-PLAINVIEW EXTENDS MID-MARKET PPM POSITION WITH ACQUISITION OF SOFTWARE STARTUP INNOTAS
Dallas, US-based US-based software company Planview has acquired San Francisco startup Innotas to advance its cloud-based IT project portfolio management offering for small-to-mid size organisations, the company said.
Planview specialises in project and resource management software development. Innotas offers cloud solutions for IT project portfolio management, resource management and application portfolio management.
Status: Closed

-EMERGENCY COMMUNICATIONS NETWORK ACQUIRES SOFTWARE FIRM MIR3
US-based unified critical communications company Emergency Communications Network has acquired intelligent communications Software as a Service provider MIR3, the company said.
ECN said that the combination of ECN's critical communications platform and MIR3's enterprise platform brings together two complementary companies, creating an organisation uniquely qualified to meet the fast growing demand for software communications solutions.
Status: Closed

-PATRICK INDUSTRIES CLOSES USD 35M ACQUISITION OF AUTOMOTIVE SUPPLIER BH ELECTRONICS
US-based RV and mobile home furniture and fixtures manufacturer Patrick Industries, Inc. (NASDAQ: PATK) has completed the acquisition of the business and certain assets of US-based automotive dash panel and electronics maker BH Electronics, Inc., the company said.
The total cash consideration paid for BHE was approximately USD 35m, and the company expects the acquisition to be immediately accretive to 2016 net income per share.
Status: Closed

-MAGENTO COMMERCE ACQUIRES DIGITAL COMMERCE ANALYTICS PLATFORM RJMETRICS
US-based cloud digital commerce company Magento Commerce has acquired digital commerce business intelligence analytics platform RJMetrics, the company said.
According to Magento, in addition to the analytics extensions already built for Magento, the Magento core platform will now include a native solution enabling merchants to better understand and optimise their commerce business based on actionable data and insights into customers, merchandising, channels, and more.
Status: Closed

-CHINA'S XINYUAN REAL ESTATE ACQUIRES NEW YORK LAND, DEVELOPMENT PROJECT
Chinese real estate developer and property manager Xinyuan Real Estate Co., Ltd.'s (NYSE: XIN) US development arm, XIN Development Group International, Inc. has acquired a parcel of land in Flushing, Queens, New York for USD 66m, the company said.
This project is within walking distance from the subway train #7 that connects commuters directly to midtown Manhattan. The land allows for a mixed use development comprising approximately 372,598 gross buildable square feet (34,615 square meters) with approved plans.
Status: Closed

-COMPASS DIVERSIFIED HOLDINGS ACQUIRES GEAR, APPAREL FIRM 5.11 TACTICAL FOR USD 400M
US-based middle market business owner Compass Diversified Holdings (NYSE: CODI) has entered into a definitive agreement to acquire US-based tactical apparel and gear provider 5.11 Tactical for a purchase price of USD 400m, the company said. This price excludes working capital and certain other adjustments upon closing.
The acquisition is expected to close within the next 45 days, subject to customary closing conditions. 5.11 is a designer and marketer of purpose-built tactical apparel and gear serving a wide range of global customers including law enforcement, military special operations and firefighters, as well as outdoor enthusiasts.
Status: Closed

-MOBILE TRANSPORTATION PLATFORM DIDI CHUXING TO ACQUIRE UBER CHINA
Chinese mobile transportation platform Didi Chuxing has inked a strategic agreement with ride sharing company Uber under which Didi Chuxing will acquire all assets of Uber China--including its brand, business operations and data--for operation within mainland China. 
This transaction signals a new stage in the development of China's rideshare industry. In exchange for the Uber China assets, Uber will receive 5.89% of the combined company with preferred equity interest which is equal to a 17.7% economic interest in Didi Chuxing.
Status: Agreed

-OPENTEXT "SUBSTANTIALLY COMPLETES" ACQUISITION OF HP'S CUSTOMER COMMUNICATIONS MANAGEMENT ASSETS
Canadian enterprise information management specialist Open Text Corp. (NASDAQ: OTEX) (TSX: OTC) has "substantially completed" the acquisition of the customer communications management assets from US-based computer maker HP Inc. (NYSE: HPQ), the company said.
The transaction purchase price is approximately USD 315m. These Assets include HP Exstream, HP Output Management, HP TeleForm and HP LiquidOffice for customer communications management, process automation and document delivery solutions.
Status: Closed

-OLD SECOND TO ACQUIRE THE CHICAGO BRANCH OF TALMER BANK AND TRUST
Illinois, US-based bank holding company Old Second Bancorp, Inc.'s (NASDAQ: OSBC) Old Second National Bank subsidiary has agreed to acquire the Chicago branch of Talmer Bank and Trust, the banking subsidiary of Talmer Bancorp, Inc. (NASDAQ: TLMR), the company said.
The deal includes approximately USD 82m of deposits and approximately USD 238m of loans. Talmer's Chicago office is led by veteran commercial bankers, Gary Collins, Robert Moore and Dave Neilson.
Status: Agreed

-AMERI100 CLOSES ACQUISITION OF ARIZONA SAP CONSULTING FIRM DC/M PARTNERS
US-based technology-management solutions company AmeriHoldings, Inc. (OTCQB: AMRH) has closed the acquisition of SAP consulting and management firm DC/M Partners, L.L.C. the company said.
DC/M Partners specialises in providing a range of SAP development, implementation, consultancy and management services. This acquisition is part of Ameri100's strategy to complete multiple acquisitions this year as it expects to grow beyond previously projected revenue of USD 40 m for 2016.
Status: Closed

-SCHWARTZ ADVISES AFTERMARKET TELEMATICS TECHNOLOGIES IN INNOVA ELECTRONICS BUYOUT
US-based M/A advisory and strategic planning firm Schwartz Advisors acted as the exclusive sell-side advisor to US-based software developer Aftermarket Telematics Technologies in its sale to US-based automotive testing equipment supplier Innova Electronics Corp, the firm said.
ATT, headquartered in Grand Rapids, Michigan, is a software developer dedicated to automotive aftermarket applications. Its Vehimatics programme collects vehicle DTC alerts and other data to allow vehicle owners to direct their service to the shop of their choice.
Status: Closed

-CRF HEALTH ACQUIRES DIGITAL HEALTH SOLUTIONS FIRM ENTRA HEALTH
US-based life sciences industry eCOA solutions provider CRF Health has acquired US-based digital health solutions firm Entra Health, the company said.
Entra Health offers mobile health IT, cloud-based remote monitoring, health data exchange and analytics solutions. CRF Health said that the acquisition expands its offerings into the market of wireless medical and wellness devices, bringing a new level of connectivity to its eCOA technologies and establishing a complete network of solutions to collect, manage and analyze biometric and clinical trial data.
Status: Closed

-GRANQUARTZ ACQUIRES STONE CUTTING SPECIALIST GRANITE CITY TOOL
US-based holding company Harbour Group's GranQuartz, L.P. subsidiary has acquired the assets of US-based stone cutting tool specialist Granite City Tool Co, Inc, the company said.
Since 1885, Granite City has distributed cutting tools, abrasives and ancillary products for the stone cutting and monument industries. The company, which is based in St. Cloud, Minnesota, serves the needs of customers who primarily reside in the upper Midwest. Granite City maintains several brand names including Rival, Rival Bond, Dia-Pro and Nitro One Shot.
Status: Closed

-FEDERAL GOVERNMENT IT CONTRACTOR FEMME COMP ACQUIRED
US-based federal government IT contractor Femme Comp Inc has been sold to a business partnership formed by John Bronson, Robert Knibb and B. Hagen Saville, the company said. FCI was formed 37 years ago by Maureen Wilcox.
Bronson has been employed by FCI for the last 23 years and most recently held the position as its executive vice president and chief operating officer. Knibb and Saville each have over 30 years of executive financial and business management experience. Knibb was co-founding General Partner of Arlington Capital Partners. Saville was a co-founder, member of the board, and a former CEO of MCG Capital Corp.
Status: Closed

-DEERFIELD MANAGEMENT CLOSES SALE OF VETERINARY PRACTICE PARTNERS IN PAMLICO CAPITAL
US-based investment management firm Deerfield Management Co has completed the sale of its portfolio company, Veterinary Practice Partners, to Pamlico Capital, the firm said.
VPP is a veterinary practice management company with a differentiated, co-ownership model. Deerfield founded VPP in partnership with its chief executive officer, Rich Lester, in 2011. The company has grown through acquisitions and de novo development to a portfolio of 22 clinics in nine states.
Status: Closed

-US SECURITY FIRMS ALLIEDBARTON, UNIVERSAL SERVICES OF AMERICA CLOSE MERGER
US-based security companies AlliedBarton Security Services and Universal Services of America have closed their merger, the companies said.
This deal was announced in May. The combined company, which will operate under the AlliedUniversal brand following the close of the transaction, will offer its clients localised response and national support with technology solutions and approximately 140,000 highly-trained officers.
Status: Closed

-PARDEE RESOURCES MAKES USD 1.1M INVESTMENT IN RHODE ISLAND SOLAR ENERGY PARTNERSHIP
US-based natural resources management and investment company Pardee Resources Co's (OTC: PDER) Pardee Solar 1 LLC subsidiary recently closed on an investment in a renewable energy partnership that owns a ground-mounted 1.25mw solar photovoltaic system located in Foster, Rhode Island, the company said.
Pardee's company's investment in this partnership is USD 1.1m. The funding for this investment will be through available cash and is subject to the system being successfully placed in operation which is expected in the near future.
Status: Closed

-EPIC HEALTH SERVICES ACQUIRES MICHIGAN-BASED PEDIATRIC SPECIAL CARE
Dallas, US-based pediatric skilled nursing, therapy, developmental, enteral and respiratory services provider Epic Health Services Inc has expanded into Michigan with the acquisition of Pediatric Special Care Inc, the company said.
Epic Health Services is a portfolio company of Webster Capital. Terms of the deal were not disclosed. Based in Southfield, Michigan, Pediatric Special Care is the only pediatric-focused nursing and home medical equipment company in Michigan.
Status: Closed

-US SOUP MAKER KETTLE ACQUIRES DEL MONACO FOODS
Lynn, Massachusetts-based artisan soup maker Kettle Cuisine has acquired Morgan Hill, California-based custom food making company Del Monaco Foods, the company said. This is the second acquisition completed by Kettle Cuisine since being acquired by Kainos Capital in August 2015.
Kettle Cuisine produces soups from scratch for restaurants, foodservice operators, and grocery retailers. It offers refrigerated and frozen chicken/turkey, seafood, beef, bacon/ham/sausage, cream, tomato, broth, and vegetable soups.
Status: Closed

-WINEBOW GROUP ACQUIRES CALIFORNIA DISTRIBUTOR HENRY WINE
Massachusetts-based wine and craft spirits importer and distributor Winebow Group has acquired Benicia, California-based Henry Wine Group, the company said. The companies will combine their efforts in California and operate there as The Henry Wine Group.
The Winebow Group was founded in 2014 with the merger of two companies that each date from 1980: The Vintner Group and Winebow.
Status: Closed

-CANTEL MEDICAL ACQUIRES NITROUS OXIDE DELIVERY SYSTEMS FIRM ACCUTRON FOR USD 52M
New Jersey-based infection prevention products provider Cantel Medical Corp. (NYSE: CMN) has acquired Phoenix, Arizona-based nitrous oxide delivery systems provider Accutron, Inc. for USD 52.5m in cash consideration, the company said.
Cantel anticipates the acquisition to be accretive to GAAP and non-GAAP earnings per share in the fiscal year ending July 31, 2017 and beyond. The acquisition of Accutron will expand the dental portfolio of Cantel's Healthcare Disposables segment, Crosstex International, to include an additional high quality branded single-use disposable product line.
Status: Closed

-TELLIGEN ACQUIRES US EMPLOYEE HEALTH PROGRAMME SPECIALIST TOTAL WELL-BEING
Iowa-based population health management solutions provider Telligen, Inc. has acquired Colorado-based employee health and well-being company Total Well-Being, the company said.
The deal integrates Total Well-Being's engagement and well-being solutions with Telligen's clinically-focused care management programmes. Colleen Reilly, president and founder of Total Well-Being, will join Telligen Health Management Solutions as vice president, employee well-being, along with her team of engagement and well-being experts.
Status: Closed

-CALIFORNIA BROKERAGE EPIC SELLS NORTH BAY OPERATIONS TO INTERWEST INSURANCE SERVICES
California-based retail property, casualty insurance brokerage and employee benefits consultant Epic Insurance Brokers and Consultants has sold its Petaluma, California branch office and book of business to Sacramento, California-based InterWest Insurance Services, the company said.
Both Epic and InterWest say they are anticipating a seamless, "business as usual" transition, maintaining the same Petaluma location as well as existing employees who will continue to serve and support their current North Bay clients.
Status: Closed