Deal Pipeline
Wednesday 20 April 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-UNITED ONLINE COMPLETES USD 13M SALE OF MYPOINTS LOYALTY MARKETING UNIT
US-based online consumer services and products company United Online, Inc. (NASDAQ: UNTD) has completed the sale of all of the stock of its MyPoints.com, Inc. loyalty marketing subsidiary to Internet and media firm Prodege, LLC in an all-cash transaction valued at USD 13m, the company said.
Prodege operates multiple customer engagement brands including its flagship consumer rewards site Swagbucks.com. United Online, through its operating subsidiaries, is a provider of consumer services and products over the Internet.
Status: Closed

-LEGRAND BUYS AUDIO/VIDEO INFRASTRUCTURE PRODUCTS FIRM LUXUL WIRELESS
French electrical and digital building infrastructures company Legrand (PAR: LR) has acquired US-based audio/video infrastructure products provider Luxul Wireless, the company said.
Founded in 2000 and based in Draper, Utah, Luxul Wireless employs around 30 people and reports annual sales of over USD 20m, of which 90% in the United States. Luxul Wireless is an IP networking provider for professionally-installed, custom integration systems for residential and small-to-medium business markets.
Status: Closed

-DENT ZONE LAUNCHES AUTOBODYGUARD DIVISION FOLLOWING ACQUISITION OF TRIDENT PROTECTION SYSTEMS
US-based "paintless dent repair" services company Dent Zone Companies has launched its AutoBodyguard, Inc. automotive appearance program and vehicle protection products division following the company's recent acquisition of US-based automotive protection products firm Trident Protection Systems, the company said.
The AutoBodyguard products, which include interior and exterior vehicle protection, also encompass additional consumer coverage benefits such as tire and wheel, windshield, automobile deductible reimbursement and dent protection. Trident Protection Systems uses nanotechnology for interior and exterior automotive protection products.
Status: Closed

-MERCK ANIMAL HEALTH TO ACQUIRE WORLDWIDE RIGHTS TO VETERINARY STETHOSCOPE FROM GEISSLER
US-based drugmaker Merck's (NYSE: MRK) Merck Animal Health unit plans to acquire worldwide rights for the Whisper Veterinary Stethoscope System from Minnesota-based Geissler Companies, Merck said.
The Whisper Veterinary Stethoscope System is a Bovine Respiratory Disease detection system which is used to determine the severity of an animal's lung condition so that the appropriate treatment regimen can be started to protect the health of the animal. Bovine Respiratory Disease is the most common disease affecting cattle in North America.
Status: Agreed

-GREAT WESTERN BANCORP TO CLOSE USD 139.5M ACQUISITION OF HF FINANCIAL ON/AROUND 13 MAY
US-based bank holding companies Great Western Bancorp, Inc. (NYSE: GWB) said it will close its acquisition of HF Financial Corp. (NASDAQ: HFFC) on or around 13 May subject to receipt of stockholder approval at the special meeting of HF Financial stockholders scheduled for 10 May and other customary closing conditions, the company said.
Late last year, the companies signed a definitive merger agreement pursuant to which Great Western Bancorp, Inc. will acquire HF Financial Corp., the holding company and parent of Home Federal Bank in a cash and stock transaction valued at USD 19.70 per share or USD 139.5m in the aggregate, the companies said.
Status: Agreed

-SEQUA PETROLEUM NIXES GINA KROG NORWEGIAN NORTH SEA DEAL DUE TO MARKET CONDITIONS
Dutch oil and gas company Sequa Petroleum N.V. has decided not to progress with the acquisition of a 15% interest in Gina Krog, and the acquisition of a 0.554% interest in the Ivar Aasen field from OMV due to current market conditions, the company said.
The deal was announced on 19 October 2015 and subsequently approved by the Norwegian government on the basis of an effective date of 1 January 2015, and the acquisition of a 0.554% interest in the Ivar Aasen field from OMV.
Status: Terminated
-HIG BIOHEALTH CLOSES SALE OF NEUWAVE MEDICAL TO JNJ'S ETHICON UNIT
US-based private equity firm H.I.G. Capital's H.I.G. BioHealth Partners healthcare investment affiliate has sold US-based medical device company NeuWave Medical, Inc. to Johnson and Johnson's (NYSE: JNJ) Ethicon medical device unit, the firm said.
NeuWave is a privately held medical device company that manufactures and markets minimally invasive soft tissue microwave ablation systems. Their products are currently used by physicians in cancer centres throughout North America.
Status: Closed

-IBM CLOSES ACQUISITION OF GERMAN DIGITAL AGENCY APERTO
US-based IT company IBM (NYSE: IBM) has closed the acquisition of German digital agency Aperto , the company said.
Aperto will join the IBM Interactive Experience (IBM iX) team, supporting IBM's growth in the largest economy in Europe. The company's 300-plus employees will continue to serve its roster of clients, which currently includes companies such as Airbus Group, Volkswagen and Siemens.
Status: Closed

-MCCORMICK ACQUIRES AUSTRALIAN HERB COMPANY FOR AUD 150M
US-based spice maker McCormick and Co, Inc. (NYSE: MKC) has purchased 100% of the shares of Australian packaged herb firm Botanical Food Co, Pty Ltd, the company said. McCormick has acquired the business for a cash payment of approximately AUD 150m (USD 114m), subject to certain closing adjustments.
Botanical Food is a privately held company based in that manufactures and sells the Gourmet Garden brand of packaged herbs. Gourmet Garden offers chilled convenient packaged herbs. Annual sales are approximately AUD 70m (USD 53m).
Status: Closed

-BLUE SPHERE TO BUY FIVE CLEAN ENERGY PLANTS IN ITALY
US-based clean-tech independent power producer Blue Sphere Corp.'s (OTCQB: BLSP) Eastern Sphere, Ltd subsidiary has signed a letter of intent to acquire five Italian clean energy plants that convert vegetable oils into electricity, the company said.
The proposed aggregate purchase price for the facilities is approximately USD 3.079m. Blue Sphere will pay a combination of cash at closing of approximately USD 2,508,990 and the balance of the purchase price shall be paid through a ten-year installment schedule.
Status: Agreed

-REGENT HOLDING ACQUIRES FRAGRANCE AND BEAUTY BRAND ILLUME
US-based home décor designer and wholesaler Regent Holding Co has acquired US-based fragrance, lifestyle and beauty brand Illume, the company said. Headquartered in Bloomington, Minnesota, Illume is a global brand that offers home fragrance and personal care products that can be found in over 7,000 doors nationwide and through the company's online retail store.
Retail customers include Anthropologie, West Elm and Target. As a designer and wholesaler of home décor, Regent Holding Co has a global presence through its two brands, Creative Co-Op and Bloomingville.
Status: Closed

-GENERATIONAL EQUITY'S TEXAS SKYDIVING FIRM CLIENT IS ACQUIRED
US-based mergers and acquisitions advisor Generational Equity's client, Texas-based recreational services firm Tri-County Ventures dba Skydive Dallas and Related Co's., has been acquired by Skydive Spaceland, the firm said.
Skydive Dallas is a full-service provider of action-adventure recreational services, specifically skydiving inTexas. Skydive Dallas serves beginners and veterans alike in both tandem and accelerated freefall capacities.
Status: Closed

-WASHINGTON'S STE MICHELLE WINE ESTATES ACQUIRES SONOMA WINERY
Washington State, US-based winery Ste. Michelle Wine Estates has acquired Sonoma, California-based single-vineyard chardonnay and pinot noir specialist Patz and Hall, the company said.
The sale includes the inventory of wines and interests in the winemaking facility and in the Sonoma House, Patz and Hall's visitors' centre in Sonoma. Patz and Hall's grapes will continue to be sourced from vineyards in the Russian River Valley, Carneros and the Sonoma Coast, including winegrowing sites like the Hyde Vineyard, Hudson Vineyard, Dutton Ranch, Chenoweth Ranch, Gap's Crown Vineyard and Alder Springs Vineyard.
Status: Closed

-ONE ROCK CAPITAL TO ACQUIRE HAWAII FILLING STATIONS, REFINERY FROM CHEVRON
US-based private equity firm One Rock Capital Partners, LP's Island Energy Services, LLC subsidiary has signed an agreement to acquire from Chevron USA. Inc. certain refining, distribution and retail assets located in Hawaii, the firm said.
These assets include the 58,000 barrel-per-day refinery in Kapolei, Chevron's interests in a network of 58 retail service stations, four product distribution terminals on Oahu, Maui, Kauai and Hawaii Island, pipeline distribution systems and other related downstream assets statewide.
Status: Agreed

-GI PARTNERS, ALLSCRIPTS JV CLOSES ACQUISITION OF HEALTH SOFTWARE FIRM NETSMART
A newly-created joint venture between Middle market private equity firm GI Partners and US-based healthcare technology and services supplier Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX) has closed the acquisition of US-based healthcare software provider Netsmart Technologies, Inc. from Genstar Capital, the JV said.
GI Partners is acquiring Netsmart in partnership with US-based healthcare technology and services supplier Allscripts, which will merge its homecare software business unit with Netsmart to establish Netsmart as a human services and post-acute technology provider.
Status: Closed

-CALLON PETROLEUM AGREES TO MIDLAND BASIN ACQUISITION
US-based oil and gas company Callon Petroleum Co (NYSE: CPE) has entered into definitive agreements with three private entities to acquire certain assets operated by Big Star Oil and Gas, LLC for total consideration of USD 220m in cash and approximately 9.3m shares of Callon common stock, the company said.
The deal is worth around USD 302m. In addition, Callon has signed definitive agreements that increase its exposure to an existing core operating area in a separate transaction.
Status: Agreed

-CALLON PETROLEUM TO INCREASE EXPOSURE IN REAGAN COUNTY, TEXAS VIA JOINT ACQUISITION
US-based oil and gas company Callon Petroleum Co (NYSE: CPE) has entered into definitive purchase and sale and joint development agreements for transactions comprising total net cash consideration of USD 33m, the company said.
Under the deal, Callon will form an area of mutual interest with TRP Energy, LLC in western Reagan County, Texas, through the joint acquisition from a private party of 4,745 net acres (with a 55% share to Callon) north of the Garrison Draw field.
Status: Agreed

-RECRUITER.COM ACQUIRES TECHNOLOGY, STAFF OF JV PARTNER JASPER
US-based online recruiting service Recruiter.com has acquired the technology and staff of joint venture partner Jasper Group, the company said. In their joint venture, the two companies worked together to integrate, redesign, and relaunch Recruiter.com's software platform.
The Jasper Group, founded by executive Michael Woloshin, developed and operated a split placement network, video distribution system, and auction based recruitment business model for fee based job placement. 
Status: Closed

-ASTM INTERNATIONAL ACQUIRES SAFETY EQUIPMENT INSTITUTE
US-based standards organisation ASTM International's board of directors has voted to make US-based certification provider Safety Equipment Institute a subsidiary of ASTM International, the organisation said. ASTM said the deal broadens its overall certification capabilities while also bolstering SEI, a top certification provider founded in 1981. SEI will remain a separate entity.
SEI provides third-party certification for a range of products such as sports and athletic equipment, safety and protective products used by firefighters and emergency responders, eye and face protection for industrial workers, and more.
Status: Closed

-CARGILL BUYS BACK NATUREWAX FROM ELEVANCE RENEWABLE SCIENCES
US-based food processor Cargill has acquired US-based vegetable-based wax provider NatureWax, the company said. NatureWax offers a non-petroleum-based wax blend used by candle makers in North America. Cargill owned NatureWax from its inception in the late 1990s until 2007.
In 2007 it was sold to its current parent company, Elevance Renewable Sciences, Inc. Cargill only purchased the NatureWax business back from Elevance.
Status: Closed

-LAUREATE EDUCATION TO SELL FRENCH HOLDINGS TO APAX PARTERS
US-based higher education company Laureate Education, Inc. has signed an agreement for the transfer of control of Laureate International Universities France SAS French holding entity to private equity firm Apax Partners, the company said.
LIUF comprises five institutions with a total student population of approximately 7,500. Bpifrance, the investment vehicle of the French state, will co-invest alongside Apax Partners and hold around 10% of the entity.
Status: Agreed

-CHINESE CONSORTIUM TO BUY US LASER PRINTER FIRM LEXMARK FOR USD 3.6BN
US-based laser printer and software company Lexmark International, Inc. has entered into a definitive merger agreement with a consortium of investors led by Chinese inkjet and laser cartridge component maker Apex Technology Co., Ltd. and private equity firm PAG Asia Capital under which Lexmark will be acquired for USD 40.50 per share in an all-cash transaction with an enterprise value of approximately USD 3.6bn, the company said.
Legend Capital Management Co., Ltd. (Legend Capital) is also a member of the consortium. The transaction has been unanimously approved by Lexmark's board of directors and represents a 30% premium to Lexmark's undisturbed closing stock price on 21 October 2015, the date prior to the news of Lexmark's exploration of strategic alternatives becoming public.
Status: Agreed

-MARINEMAX ACQUIRES BOSTON BOAT DEALER
Clearwater, Florida-based recreational boat and yacht retailer MarineMax, Inc. (NYSE: HZO) has completed the acquisition of the assets of Boston, Massachusetts-based boat dealer Russo Marine, the company said.
With fiscal 2015 revenue exceeding USD 35m, Russo is the largest privately-owned boat dealer in the Northeast. Russo operates three locations which serve the Massachusetts and Rhode Island coastal markets.
Status: Closed

-AUTODESK BUYS 3D ANIMATION SOFTWARE FIRM SOLID ANLGLE
California-based computerised design software company Autodesk, Inc. (NASDAQ: ADSK) has acquired 3D animation software provider Solid Angle, for an undisclosed amount, the company said. Solid Angle makes Arnold, a global illumination renderer used by more than 500 studios and thousands of independent artists.
Arnold has been used on films such as "Ex Machina" and "The Martian" as well as the series Game of Thrones, among other features, TV shows and commercials.
Status: Closed

-NATIONAL LAND REALTY EXPANDS TO CHEYENNE WELLS, COLORADO WITH D-BRANDS MERGER
US-based land brokerage company National Land Realty has merged with Cheyenne Wells, Colorado-based realty company D-Brands Realty, the company said.
This expansion opens up new farm and ranch land in eastern Colorado for the company's land sales and investment customers. National Land Realty is a full-service real estate brokerage company specifically focused on farm, ranch, recreational, timber, and commercial land sales. Founded in Greenville, S.C. in 2007, the company now operates in 16 states spanning the Nation.
Status: Closed

-DSI ACQUIRES SUPPLY CHAIN SOFTWARE FIRM ENSYNC SOLUTIONS
US-based mobile and cloud supply chain solutions provider DSI has acquired Overland Park, Kansas-based eNSYNC Solutions, Inc., the company said. eNSYNC has been providing certified supply chain software solutions and services to Microsoft (NASDAQ: MSFT) Dynamics and IFS customers for more than 16 years. Microsoft Dynamics AX claims more than 20,000 global customers and over 30% growth in North America.
Microsoft's commitment to offering AX in cloud, partner-hosted and on-premises models aligns with DSI's deployment flexibility.
Status: Closed

-TAYLOR ACQUIRES PRINTING SERVICES DIVISION FROM STAPLES
Minnesota-based communications, products, and technologies company Taylor Corp. has agreed to acquire the assets of US-based office supply retailer Staples, Inc.'s (NASDAQ: SPLS) Staples Print Solutions printing services division, the company said.
For Staples, the divestment fits with its proposed merger with Office Depot, which is under fire from the US FTC on competitiveness grounds. These assets will be acquired by Taylor Communications, Inc., a subsidiary of Taylor Corp. The parties expect to complete the transaction within the coming months.
Status: Closed

-SUPERCOM ACQUIRES POINT-OF-SALE PLATFORM FIRM POWAPOS BUSINESS
Israel-based e-government secure solutions provider SuperCom (NASDAQ: SPCB) has acquired the business of US-based system integrating payment solutions provider PowaPOS, the company said.
PowaPOS has deployed its products in more than 20 countries all over the world, and has been integrated by more than 150 cloud-based POS software providers. Since 1988, SuperCom has provided traditional and digital identity solutions, providing advanced safety, identification and security solutions to governments and organizations, both private and public, throughout the world.
Status: Closed

-TENEX CAPITAL MANAGEMENT ACQUIRES SOLAR RACKING MANUFACTURER UNIRAC
An affiliate of private equity firm Tenex Capital Management has acquired Albuquerque, New Mexico-based solar racking manufacturer Unirac, Inc. from Liechtenstein-based construction technology provider Hilti, the firm said.
Tenex Capital Management invests in middle-market companies, using an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring. Unirac was founded in 1998 and has established itself as the provider of PV mounting solutions in North America.
Status: Closed

-FOLLETT ACQUIRES LIBRARY BOOKS, DIGITAL CONTENT PROVIDER BAKER AND TAYLOR
US-based technology, services, and digital content provider Follett Corp. has acquired Charlotte, North Carolina-based library materials provider Baker and Taylor, LLC, the company said.
Baker and Taylor will continue to operate as before, serving customers through its existing management team and business operations. The two businesses will have combined sales of USD 3.6bn, and will offer librarians, patrons, educators and students access to curated physical and digital content.
Status: Closed

-ARTHUR J GALLAGHER ACQUIRES NEVADA, US INSURANCE AGENCY
Itasca, Illinois-based insurance brokerage firm Arthur J. Gallagher and Co. (NYSE: AJG) has acquired Las Vegas, Nevada-based insurance product provider KDC Associates, LLC, the firm said.
With a history dating back to 2008, KDC Associates is a managing general agent and program manager which provides admitted and excess and surplus, property/casualty and other specialty insurance products and services to independent retail insurance broker clients.
Status: Closed