Deal Pipeline
Tuesday 24 January 2017
The following is a list of deals covered in detail by M and A Navigator this week:

-US INSULATION COMPANY TOPBUILD ACQUIRES MIDWEST FIREPROOFING
US-based insulation products distributor and installer TopBuild Corp. (NYSE: BLD) has acquired US-based heavy commercial fireproofing and insulation firm Midwest Fireproofing, the company said. Midwest Fireproofing has locations in Chicago and Indianapolis.
For the trailing twelve months ended 31 December 2016, Midwest Fireproofing generated approximately USD 20m in annual revenue. TopBuild headquartered in Daytona Beach, Florida, is a purchaser, installer and distributor of insulation products to the US construction industry.
Status: Closed

-SPEYSIDE EQUITY FUND I ACQUIRES US METAL STANPING COMPANY
US-based private equity firm Speyside Equity Fund I LP has acquired US-based contract metal stampings and fabrications company Midland Stamping and Fabricating Corp. from Advanced Alloy Processing, the firm said. Midland serves major tier one manufacturers in automotive, appliance, industrial, trailer, and cookware industries.
The company products include complex and engineered stampings and fabrications as well as a series of highly specialized products, including polished cookware lids and trash and linen chutes. Midland has manufacturing capabilities, including stamping presses, plasma cutting, laser cutting, turret presses, punch press, 3-axis vertical machining center, drill press, automated polishing and welding equipment.
Status: Closed

-GRAY CLOSES ACQUISITION OF TV STATIONS IN GREEN BAY, QUAD CITIES
US-based television broadcast company Gray Television, Inc. (NYSE: GTN) has completed the acquisitions of television stations in the Green Bay, Quad Cities and Fairbanks television markets, the company said.
The company closed an agreement with Nexstar Broadcasting Group, Inc. to acquire, for USD 270m in cash, two television stations that Nexstar will divest upon its merger with Media General, Inc., the company said. These stations are WBAY, in Green Bay, Wisconsin, and KWQC in Davenport, Iowa, both currently owned and operated by Media General.
Status: Closed

-RENASANT TO ACQUIRE FELLOW MISSISSIPPI BANK METROPOLITAN IN USD 190.2M STOCK DEAL
Mississippi, US-based bank holding comapny Renasant Corp. (NASDAQ: RNST) and its Renasant Bank has inked a definitive agreement to acquire Mississippi, US-based Metropolitan BancGroup, Inc. and its Metropolitan Bank in an all-stock transaction currently valued at approximately USD 190.2m, the company said.
The proposed merger has been approved unanimously by each company's board of directors and is expected to close early in 3Q17. Completion of the transaction is subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approvals and the approval of Metropolitan's shareholders.
Status: Agreed

-UNITIVE ACQUIRES BLIND RESUME REVIEW SOFTWARE VENDOR TALENTSONAR
US-based hiring software provider Unitive has acquired blind resume review software vendor TalentSonar, the company said. Unitive offers an "end to end" hiring technology platform.
The platform encourages hiring managers and HR professionals at any organisation to use data-driven decision-making when evaluating applicants, instead of relying on fickle and biased gut feelings. Underpinning Unitive's blind resume review, TalentSonar's OFCCP-compliant software already helps hiring managers and recruiters overcome the unconscious biases we all share.
Status: Closed

-LILY TO ACQUIRES MIGRAINE SPECIALIST COLUCID PHARMACEUTICALS IN USD 960M DEAL
US-based drugmaker Eli Lilly and Co (NYSE: LLY) has agreed to acquire US-based biopharmaceutical company CoLucid Pharmaceuticals, Inc. (NASD: CLCD) for USD 46.50 per share or approximately USD 960m, the company said. This all-cash transaction will enhance Lilly's existing portfolio in pain management for migraine, while adding a potential near-term launch to its late-stage pipeline.
CoLucid Pharmaceuticals is a public biopharmaceutical company developing an oral 5-HT1F agonist (lasmiditan) for the acute treatment of migraine. The company has completed the first of two pivotal Phase 3 trials. A data read-out for the second Phase 3 trial, SPARTAN, is expected in the second half of 2017.
Status: Closed

-AON CLOSES ACQUISITION OF BRAZILIAN HEALTH, BENEFITS BROKERAGE ADMIX
London, England-based insurance broker Aon plc (NYSE: AON) has closed the acquisition of Brazil-based health and benefits brokerage Admix, the company said. Aon provides risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services.
Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. Admix is a health and benefits broker and benefits administrator focused on the SME market in Brazil.
Status: Closed

-AUGEO ACQUIRES CARD-LINKED OFFER SOFTWARE SPECIALIST EDO INTERACTIVE
US-based consumer and employee engagement and incentive programme provider Augeo has acquired US-based card-linked offers specialist Edo Interactive, the company said. Based in Nashville, Edo Interactive develops card-linked offers, providing a software platform connecting targeted merchant offers to credit and debit cardholders in both the US and Europe.
Over the past ten years, Edo has worked with hundreds of national and local merchants from major categories including retail, restaurants, grocery, sporting goods and hotels, among others. Partnered with these merchants, Edo's focus has been on tailored digital marketing campaigns designed to deliver against custom ROI requirements specified by each merchant.
Status: Closed

-TRIGO ACQUIRES FRENCH PROFESSIONAL SERVICES FIRM EURO-SYMBIOSE
French quality management solutions provider Trigo Group has acquired 100% of French quality training, audit and consulting services provider Euro-Symbiose from its founders, Trigo said. Trigo made the deal with support from its majority shareholder Ardian.
Established in 1991, Euro-Symbiose mostly serves the French automotive, aerospace and manufacturing industries. The company advises automotive and aerospace manufacturers on how they can meet the critical quality standards governing these sectors in Europe. These trade bodies include IATF/FIEV and VDA, and IAQG/GIFAS, in the automotive and aerospace sectors respectively.
Status: Closed

-SOFTSERVE ACQUIRES POLISH ENTERPRISE TECHNOLOGY FIRM CODERS CENTER
US-based digital solutions company SoftServe has acquired Polish enterprise technology firm Coders Center, the company said. The acquisition expands SoftServe's digital solutions offerings and consulting services along with software development capabilities.
Founded in 2014, Coders Center specialises in enterprise content management systems and e-commerce platforms. A Sitecore gold implementation partner, the company also has established partnerships with Adobe and other industry leaders.
Status: Closed

-MORE IN VITRO DIAGNOSTIC MERGERS AND ACQUISITIONS LIKELY, KALORAMA FORECASTS
In vitro diagnostic companies were very active in 2016 with respect to mergers and acquisitions, and that trend should continue though the reasons for such acquisitions have been shifting, according to a new report from US-based market research firm Kalorama Information.
Generally, uncertainty in reimbursement and healthcare reform in Europe and the US has changed the acquisitions landscape. Instead of looking to buy technology, the economic situation has resulted in companies buying partners outside of their home country and also to increase their market share and produce revenue growth.
Status: Agreed

-CHARTER SCHOOL CAPITAL ACQUIRES DETROIT PUBLIC SAFETY ACADEMY FACILITY
US-based charter schools capital and facilities financing provider Charter School Capital's facilities arm, American Education Properties, has acquired the building occupied by Detroit, US-based charter school Detroit Public Safety Academy, the company said. The acquisition secures Detroit Public Safety Academy a long-term facility in which to operate.
Opened in 2013, Detroit Public Safety Academy provides students in grades 7-12 with a curriculum tailored to careers in the public safety sectors, including law enforcement, fire and emergency services, corrections and security. Law and government career programmes are also incorporated into the curriculum, which starting in the 2017/18 school year will expand to also serve sixth graders.
Status: Closed

-TURNER VALLEY OIL AND GAS STARTS EDGAR FILING PLAN AHEAD OF PLANNED ACQUISITIONS
US-based holding company Turner Valley Oil and Gas, Inc. (OTC: TVOG) has engaged Discount Edgar, Inc. to handle SEC Filings as a next step in meeting standards to become OTCQB listed and complete its acquisitions, the company said. Last June, Turner Valley Oil and Gas announced signed its first letter of intent for the acquisition of a fast casual seafood restaurant chain based out of Southern Florida.
The company is focused on sectors including but not limited to real estate, construction, technology, environmental, energy, beverage, food service, distribution, entertainment and various other business platforms. TVOG is changing its name to Turner Venture Group, Inc.
Status: Speculation

-APRIMA MEDICAL SOFTWARE ACQUIRES HER RESELLER HEALTHCARE DATA SOLUTIONS
US-based medical practice solutions company Aprima Medical Software has acquired former reseller Healthcare Data Solutions of Coral Cables, Florida, the company said. As part of the agreement, Aprima will assume full support for HDS's customers, which include approximately 300 providers in 125 medical practices across 15 states. Financial terms were not disclosed.
HDS works with physician groups across the country to identify IT solutions that best fit their needs and to implement and support their ongoing system needs. Aprima previously acquired RCM services provider Health Care Strategies in 2011. Since acquiring Health Care Strategies, Aprima has grown its RCM client base threefold and quadrupled the dollars under management.
Status: Closed

-WINNING MOVES ACQUIRES GAME BRAND PASS THE PIGS
US-based specialty games and toys maker Winning Moves Inc. (dba Winning Moves USA) has acquired pig-dice party game brand Pass the Pigs from David Moffat Enterprises, LLC, the company said.
Pass the Pigs was invented by David Moffat and first published in 1977 by Recycled Paper Products under the name "Pigmania." As the game grew in popularity, its name was changed to Pass the Pigs and licensed to Milton Bradley for several successful years.
Status: Closed

-MODERE TO ACQUIRE NUTRACEUTICALS FIRM JUSURU INTERNATIONAL
US-based wellness products retailer Modere has reached an agreement to acquire US-based nutraceuticals provider Jusuru International, Inc., the company said.
Jusuru International is the firm behind Liquid BioCell, a new generation of nutraceuticals for aging, joints and skin. Modere offers a portfolio of consumer products. Its offerings include products for health, wellness, beauty, personal care and household care, which are distributed through its social retail model.
Status: Agreed

-RICOH ACQUIRES CANADIAN PRINT SOFTWARE FIRM AVANTI COMPUTER SYSTEMS
Japanese technology company Ricoh has acquired Toronto-based print MIS company Avanti Computer Systems Ltd., the company said. Ricoh said the acquisition enables it to further expand the value its production print workflow delivers to customers, as well as to help improve management efficiency and productivity of customers in the production printing market.

Wirth Consulting reports that Avanti was acquired for an undisclosed sum. Ricoh says buying the Canadian company will help it expand the value its production print workflow delivers, and help improve management efficiency and productivity in the production printing market.

Status: Closed

-DATAVAIL ACQUIRES MICROSOFT APPLICATION, DEVELOPMENT PARTNER NAVANTIS
Broomfield, Colo.-based managed services provider Datavail has acquired Toronto-based Microsoft application and development partner Navantis, the company said. Navantis leverages the Microsoft solution stack of technologies to address its client's application and data integration business needs. The company's offerings include application development, support and systems integration across the Microsoft Dynamics CRM, SharePoint and .NET services suites.

Datavail said the acquisition of Navantis is part of its growth strategy to expand into Microsoft-oriented consulting, application development and modernisation solutions.

Status: Closed



-STOCKTWITS ACQUIRES STOCK DISCOVERY PLATFORM SPARKFIN

US-based financial communications company StockTwits has finalised the acquisition of San Diego-based stock discovery platform SparkFin Inc., the company said. StockTwits said the acquisition offers users more opportunities to engage with markets and investing, and new ways to think about their portfolios.

Tradestreaming reported details of the transaction were not disclosed. SparkFin creates and maintains lists of stocks that are either editorially managed or based on market and fundamental data. The company was incubated by Social Leverage, and counts Math Ventures and Worldquant Ventures as investors.

Status: Closed



-US FINTECH, REGTECH FIRM NORTH CAPITAL INVESTMENT ACQUIRES APPLICATION, SYNDICATION NETWORK ACCESS INVESTORS

Salt Lake City-based fintech and regtech company North Capital Investment Technology Inc. (NCIT) has acquired San Francisco-based application and syndication network Access Investors Network, Inc., the company said.

Access Investors Network Inc. is the developer of the AccessInvest iPhone application and syndication network, which aggregates private offerings, simplifying deal discovery and investment review, while offering data-driven insights and alerting functionality to issuers and financial intermediaries. AccessInvest currently has about 30 relationships with funding platforms and broker-dealers who share their deals through the network.

Status: Closed



-GATEWAY PACKAGING ACQUIRES ASSETS OF BANKRUPT WERTHAN PACKAGING

US-based flexible packaging supplier Gateway Packaging Co has acquired the operating assets of US-based paper packaging supplier Werthan Packaging, Inc., the company said. Gateway Packaging is portfolio company of New York-based Saw Mill Capital LLC.

The Wall Street Journal reported in December 2016 that Werthan Packaging filed for chapter 11 with plans to sell itself to competitor Gateway Packaging Co. LLC for USD 7.2m, according to papers filed in US Bankruptcy Court in Nashville, Tenn. Gateway said it plans to continue to operate Werthan's former facility in White House, Tenn.

Status: Closed



-CONTERRA ACQUIRES DETEL, BROADPLEX; DEALS EXPAND FIBRE OPTICS FOOTPRINT TO 6,200+ ROUTE MILES

Charlotte, NC-based fibre optic broadband company Conterra Ultra Broadband Holdings, Inc. has acquired Louisiana-based regional fibre optics company Detel and North Carolina-based regional fibre optics company Broadplex, the company said. These deal expand Conterra's fiber footprint to more than 6,200 route miles and 355,000 fiber miles.

Conterra said through these transactions, it now provides Fibre network services in seven primary states in the Southeast, Gulf Coast/Midwest and Western regions of the United States, serving more than 3,500 on-net locations including more than 500 owned and operated communication towers that support school districts and wireless carriers from coast to coast.

Status: Closed



-GTCR SELLS RURAL BROADBAND INVESTMENTS TO CABLE ONE FOR USD 735M

Chicago-based private equity firm GTCR has entered into a definitive agreement to sell Kansas-based cable service provider Rural Broadband Investments (RBI) to Arizona-based cable service provider Cable One, Inc. (NYSE: CSBO) for USD 735m, the company said.

Cable One is a publicly traded cable service provider serving more than 650,000 customers in 19 states.
GTCR focuses on investing in growth companies in the financial services and technology, healthcare, technology, media and telecommunications and growth business services industries. Since its inception, GTCR has invested more than USD 12bn in over 200 companies.

Status: Closed



-ETHYPHARM ACQUIRES OPIOID ADDICTION-FOCUSED UK DRUGMAKER MARTINDALE PHARMA

Saint-Cloud, France-based pharmaceutical company Ethypharm has entered into a definitive agreement to acquire UK-based specialty pharmaceutical company Martindale Pharma, the company said. Martindale Pharma is a UK-based specialty pharmaceutical company providing medicines to over 50 countries around the world.

The company said through the acquisition, it reinforces its presence in the UK. The combined group is expected to benefit from a broader geographic reach and strengthen its manufacturing capabilities. The combination of the two companies will create a group with revenues of more than EUR 300m and a platform for future growth.

Status: Closed



-ORACLE ACQUIRES API FRAMEWORK AND TOOLS STARTUP APIARY

Redwood Shores, Calif.-based software company Oracle (NYSE: ORCL) has signed an agreement to acquire San Francisco-based development startup firm Apiary, the company said. Oracle said it is acquiring Apiary for its API framework and tools to develop cloud-based applications

Fortune reported financial terms of the transaction were not disclosed. Until the transaction closes, each company will continue to operate independently. Oracle said together the two companies plan to help companies thrive in the digital economy by comprehensively managing connectivity complexity and API proliferation.

Status: Closed


-LIBERTY MEDIA FINALISES ACQUISITION OF F1 MOTORSPORTS

Colorado-based mass media company Liberty Media Corporation (NASDAQ: LMCA) has completed its acquisition London-based motorsports company Formula One Management Ltd. (F1) from a consortium of sellers, the company said.

This deal was announced last December. Liberty Media said consideration for the acquisition of 100% of the shares of F1 was comprised of cash and newly issued Series C shares of the Liberty Media Group stock and a debt instrument exchangeable into shares of the company. The transaction price represents an enterprise value for F1 of BPS 8bn and an equity value of USD 4.4bn.

Status: Closed


-PINNACLE FINANCIAL TO ACQUIRE NORTH CAROLINA'S BNC BANCORP IN USD 1.9BN STOCK DEAL

Tennessee, US-based bank holding company Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) and its Pinnacle Bank subsidiary have inked a definitive agreement to acquire North Carolina, US-based bank holding company BNC Bancorp (NASDAQ: BNCN) and its Bank of North Carolina subsidiary in an all-stock transaction, the company said.
Upon completion of the merger, Pinnacle will merge Bank of North Carolina with and into Pinnacle Bank. The merger will create a four state footprint concentrated in 12 of the largest urban markets in the Southeast, adding significant presence in Charlotte, Raleigh, Greensboro, Winston-Salem, Greenville-Spartanburg, and Charleston to Pinnacle's Tennessee franchise.
Status: Agreed



-AMC ENTERTAINMENT TO ACQUIRE NORTHERN EUROPEAN MOVIE THEATRE OPERATOR NORDIC CINEMA

US-based movie theatre operator AMC Theatres (NYSE: AMC) has entered into a definitive agreement to acquire the largest theatre exhibitor in seven countries in the northern region of Europe, Stockholm-based Nordic Cinema Group Holding AB, the company said.
AMC is purchasing Nordic from European private equity firm Bridgepoint and Swedish media group Bonnier Holding in an all-cash transaction valued at SEK 8.25bn (USD 929m). Nordic operates 68 theatres and has a substantial minority interest (approximately a 50% ownership) in another 50 associated theatres to which Nordic provides a variety of shared services. The company's theatres are number one in market share in Sweden, Finland, Estonia, Latvia and Lithuania.
Status: Agreed



-PACKAGING FIRM SLIGAN TO ACQUIRE WESTROCK'S SPECIALTY CLOSURES, DISPENSING SYSTEMS BUSINESS

US-based rigid packaging supplier Silgan Holdings Inc. (NASDAQ: SLGN) has entered into a definitive agreement with US-based corrugated packaging firm WestRock Co. (NYSE: WRK) to acquire its specialty closures and dispensing systems business, the company said.
This business is a global supplier of highly engineered triggers, pumps, sprayers and dispensing closure solutions to major branded consumer goods product companies in the Home, Health and Beauty markets. It operates a global network of 13 plants across North America, Europe, South America and Asia. For the fiscal year-ended 30 September 2016, this business generated sales of approximately USD 566m. The purchase price for this acquisition is USD 1.025bn.
Status: Agreed



-FUNKO ACQUIRES UK LICENSED PRODUCTS MAKER UNDERGROUND TOYS

US-based licensed pop culture product company Funko has completed an agreement to acquire substantially all of the assets of UK licensed products manufacturer and distributor Underground Toys Ltd., the company said. Founded in 2001 and based in London, UTL is a provider of toys and entertainment products under licensed brands that include Star Wars, Doctor Who, Marvel, WWE and DC Comics.
In January 2014, Funko and UTL entered into a European distribution agreement whereby UTL exclusively distributed Funko products along with its own range of licensed merchandise to a network of European retailers, including Toys "R" Us, Tesco, ASDA, Carrefour, and FNAC.
Status: Closed



-BIOINFORMATICS FIRM OMICIA ACQUIRES SPIRAL GENETICS

US-based clinical genomic data analysis and reporting software Omicia, Inc. has acquired US-based bioinformatics specialist Spiral Genetics, the company said. Omicia said that Spiral's advanced tools add multiple variant detection capabilities for next generation sequencing to its software platform.

Spiral's graph-based technology enables accurate detection of structural variants and provides population-scale data mining capabilities for clinical laboratories, life science companies and country sequencing programs. Also included in the acquisition are Spiral's population-specific reference genome and lossless data compression technologies.
Status: Closed



-US WIRELESS FIRM SPRINT ACQUIRES 33% OF JAY Z'S ENTERTAINMENT PLATFORM TIDAL

US-based wireless company Sprint (NYSE: S) has agreed to acquire 33% of music and entertainment platform Tidal as part of a larger partnership, the company said. Terms of the deal were not disclosed. However, a Billboard report put the deal at USD 200m
Tidal is a global, experiential, entertainment platform built for fans, directly from artists around the world. Members of Tidal enjoy curated content that directly connects artists with their fans in multiple ways. Tidal is available in more than 52 countries, with a more than 42.5m song catalog and 140,000 high quality videos. Jay Z and the artist-owners will continue to run Tidal's artist-centric service as it pioneers and grows the direct relationship between artists and fans.
Status: Closed



-SCIENTIFIC GAMES CLOSES ACQUISITION OF CANADIAN CASINO GAMES MAKER DEQ SYSTEMS

Las Vegas, Nevada-based technological products developer Scientific Games Corp. (NASDAQ: SGMS) has closed the acquisition of the issued and outstanding common shares of Canada-based casino table systems maker DEQ Systems Corp. (TSX Venture: DEQ) for a cash payment of CDN 0.38 per share, the company said.
This transaction was announced last August. All of the directors and executive officers of DEQ have entered into support agreements pursuant to which they have agreed to vote in favor of the arrangement.
Status: Closed

-DETAIL PROVISIONS ACQUIRES NEW YORK MEN'S ACCESSORIES FIRM HOOK AND ALBERT
US-based men's accessories holding company Detail Provisions Co has acquired New York-based men's accessories provider Hook and Albert, the company said. The acquisition marks the first for DPC, a multi-brand men's accessories platform established to support emerging brands and designers with strategic capital and infrastructure led by Paul Song, former executive of Cufflinks.com.
Hook and Albert co-founders Adam Schoenberg and Cory Rosenberg will continue to serve as CEOs of their brand, and will join Song in executive leadership in the larger entity.
Status: Closed

-IT NETWORK AND DATA CENTER SERVICES FIRM SMS SYSTEMS MAINTENANCE SERVICES, CURVATURE MERGE
US-based IT data centre lifecycle services company SMS Systems Maintenance Services, Inc and network hardware and IT infrastructure services firm Curvature LLC have a definitive agreement under which the two companies will merge, the companies said.
The companies say they have highly complementary product and service portfolios that serve adjacent market segments, and combined will provide a range of IT networking and data centre services, products and solutions to organisations of all sizes around the world.
Status: Closed

-DUKE ENERGY TO PAY USD 600K CIVIL PENALTY TO RESOLVE US GOVERNMENT FLORIDA POWER PLANT LAWSUIT
US-based utility operator Duke Energy (NYSE: DUK) and the US government have reached a settlement to resolve a government lawsuit that alleged Duke Energy committed a technical violation of federal antitrust law related to its recently completed acquisition of a Florida power plant, the company said.
Duke Energy admits no wrongdoing or liability as part of the settlement, but agrees to pay a USD 600,000 civil penalty to settle the case and avoid the costs and uncertainties of continued litigation. The case involves Duke Energy's USD 166m acquisition of the Osprey Energy Center a natural gas-fired power plant in Auburndale, Florida, previously owned by Calpine Construction Finance Co.
Status: Agreed

-US CALL CENTRE FIRM MASS MARKETS ACQUIRES ASSETS FROM GRAVIS MARKETING
The parent company of US-based business process outsourcing call centre, teleservices firm and Anything-as-a-Service provider Mass Markets has acquired a collection of assets from US-based Gravis Marketing, the company said.
These include Gravis Marketing's hosted predictive dialer, interactive voice response, native software, software-as-a-service, automated market research software, goodwill, intellectual property, database management and processing toolbox, and third party verification assets.
Status: Closed