Deal Pipeline
Monday 25 January 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-SMART SOURCE ACQUIRES ASSETS OF MARKETING COMMUNICATIONS SERVICES FIRM DATA SUPPLIES
US-based BPO brand management and technology company Smart Source has acquired assets of Data Supplies Inc., a provider of marketing communications services in the Southeast US, the company said.
Smart Source said its acquisition allows these two companies to combine best practices, services and technologies to offer the most elevated client experience in brand management, marketing and communications to clients nationwide.
Status: Closed

-LANDSCAPE PRODUCTS COMPANY YARD WORKS ACQUIRES WALTRIP RECYCLING
Virginia, US landscape products company US-based Yard Works has completed the acquisition of Waltrip Recycling, Inc.'s assets, the company said.
This marks the Richmond-based landscape product company's expansion into the Greater Williamsburg Area, with its sixth retail location. Yard Works said it will begin servicing former Waltrip residential and commercial clients immediately, by bringing its brands of mulch and other land improvement products and services to the market.
Status: Closed

-RES SELLS BLUESTEM WIND PROJECT TO EXELON GENERATION
US-based wind, solar, transmission, and energy storage project developer Renewable Energy Systems has sold the Bluestem Wind Project to US-based power producer Exelon Generation, the company said. Exelon Generation is the nation's 12th largest wind producer with a combined 1,500mw of wind generation and more under construction. RES developed the project and is the engineering, procurement and construction contractor.
Status: Closed

-PSEG SOLAR SOURCE ACQUIRES OWNERSHIP INTERESTS IN TWO SOLAR FACILITIES FROM JUWI
US-based utility operator PSEG's (NYSE: PEG) PSEG Solar Source unit has acquired ownership interests in two solar facilities from US-based solar energy generation company juwi Inc., the company said. The acquired facilities include a 3.9mw-dc project in Livermore, California and a 62.7mw-dc project in Millard County, Utah.
Together, these acquisitions represent an investment of close to USD 110m and increase the capacity of PSEG Solar Source's portfolio to 214.6mw-dc. The PSEG Pavant II Solar Energy Center will be located on 415 acres about 110 miles south of Salt Lake City.
Status: Closed

-SOUTH KOREAN WIRELESS EQUIPMENT MAKER ACQUIRES US PARTNER
South Korean-based wireless equipment manufacturer Solid Inc. has extended its international presence by purchasing those assets of Reach Holdings related to Reach role as Solid's exclusive North American partner, the company said.
Solid has a portfolio of advanced RF amplifier, RF radio and optical transport solutions. The acquisition bolsters Solid's capabilities in its core DAS and optical fronthaul/backhaul markets.
Status: Closed

-BNY MELLON TO ACQUIRE ASSETS OF SILICON VALLEY INVESTMENT COUNSELING FIRM
US-based financial services firm BNY Mellon (NYSE: BK) has signed a definitive agreement to acquire the assets of Menlo Park, California-based Atherton Lane Advisers, LLC, the firm said. Atherton Lane Advisers, an investment manage, has about USD 2.7bn in assets under management.  The firm serves about 700 high net worth clients. Upon completion of the transaction, Atherton will become part of BNY Mellon Wealth Management. 
Status: Agreed

-CRYOLIFE CLOSES USD 130M ON-X LIFE TECHNOLOGIES ACQUISITION
US-based cardiac medical device and tissue processing company CryoLife, Inc. (NYSE: CRY) has closed its acquisition of On-X Life Technologies Holdings, Inc., an Austin, Texas-based, privately held mechanical heart valve company.
On-X generated revenue of approximately USD 33m in 2014, representing compound annual growth of approximately 13% over the preceding four years.
Status: Closed

-CARTAGENA CAPITAL MERGES WITH GERMAN TECHNOLOGY ADVISORY BRYAN GARNIER
UK-based investment bank Bryan, Garnier and Co has merged with German technology advisory boutique Cartagena Capital GmbH, the company said. Cartagena Capital will be renamed Bryan, Garnier and Co. GmbH, and the combined entity will feature one of the largest TMT investment banking teams in Europe. The Cartagena Capital team, comprised of 28 professionals and senior industry advisors, will be fully integrated with Bryan, Garnier and Co's investment banking team of 120 professionals.
Status: Closed

-BB/T, NATIONAL PENN MERGER TO CLOSE ON/AROUND 1 APRIL
US-based bank holding company BB/T Corp.'s (NYSE: BBT) acquisition of National Penn Bancshares, Inc. (NASDAQ: NPBC) is expected to close on or about 1 April 2016, the company said. In August, the companies signed a definitive agreement under which BB/T will acquire National Penn in a cash and stock transaction for total consideration valued at approximately USD 1.8bn. This acquisition will significantly expand BB/T's footprint in the Mid-Atlantic region and improve its deposit market share to #4 in Pennsylvania.
Status: Agreed

-SCA CLOSES USD 513M ACQUISITION OF US TISSUE MAKER WAUSAU
Swedish hygiene and forest products company SCA (NASDAQ OMX Stockholm: SCA) has closed its acquisition of US-based tissue paper maker Wausau Paper Corp. (NYSE: WPP) for 10.25 per share or total consideration of USD 513m (approximately SEK 4.2bn) in cash, the company said.
SCA said that the merger consideration represents a premium of 40.6% to Wausau Paper's closing price on October 12, 2015 and a premium of 11.3% to the Wausau Paper 52 week volume weighted average price. SCA has funding available.
Status: Closed

-SWEDISH COMPETITION AUTHORITY SEEKS TO BLOCK ACQUISITION OF CHICKEN PRODUCER LAGERBERGS
The Swedish Competition Authority (Konkurrensverket) has made public that it is going to court claiming to get a prohibition against Kronfågel AB's Swedish chicken producer Scandi Standard (STO: SCST) acquisition of Lagerbergs, Scandi said.
Scandi Standard said it disagrees with Konkurrensverket's assessment and will now review the submission and consider its options. The SEK 105m (USD 12.88m) deal was agreed last June. Lagerbergs is the third largest producer of chicken products in Sweden, processing approximately 10m birds annually, with sales in 2014 of approximately SEK 300m.
Status: Agreed

-LANDMARK VINEYARDS ACQUIRES SONOMA'S HOP KILN WINERY
California-based Landmark Vineyards, a Sonoma county producer of chardonnay and pinot noir, has purchased Hop Kiln Vineyards located in Sonoma's Russian River Valley, the company said.
Hop Kiln will broaden Landmark's presence in Sonoma with its vineyards and tasting room located on Westside Road in the heart of the Russian River Valley.
Status: Closed

-LANDMARK APARTMENT TRUST SHAREHOLDERS APPROVE USD 1.9BN BUYOUT
Canadian multifamily REIT Landmark Apartment Trust, Inc. shareholders have approved the merger of the company with and into Monument REIT Merger Sub, L.P. an entity owned by affiliates of Starwood Capital Group and Milestone Apartments Real Estate Investment Trust (TSX: MST.UN), in an all cash transaction valued at approximately USD 1.9bn, including the assumption of existing debt, the company said.
Status: Agreed

-PROXY ADVISOR ISS RECOMMENDS PLUM CREEK SHAREHOLDERS VOTE FOR USD 8.4BN WEYERHAEUSER BUYOUT
US-based proxy advisory firm Institutional Shareholder Services Plum Creek Timber Co., Inc. (NYSE: PCL) has issued a report recommending that Plum Creek shareholders vote to approve the company's proposed merger with Weyerhaeuser Co. (NYSE: WY) at the company's special meeting of shareholders to be held on 12 February 2016, the company said.
In November 2015, timber and forest products company Weyerhaeuser agreed to acquire Plum Creek in a USD 8.4bn stock deal.
Status: Agreed

-MALLEY TO STEP DOWN AS CFO OF THE PHOENIX COMPANIES FOLLOWING MERGER CLOSE
Bonnie J. Malley, the chief financial officer of US-based insurer The Phoenix Companies, Inc. (NYSE: PNX), intends to leave the company upon completion of the company's agreed merger with Nassau Reinsurance Group Holdings, L.P., the company said. She is leaving to take a position with the city of Hartford, subject to approval by the City Council.
Upon completion of the merger, the company intends to appoint Ernest McNeill Jr., currently senior vice president and chief accounting officer at Phoenix, as chief financial officer.
Status: Agreed

-CANADIAN TELEMATICS FIRM GEOTAB BUYS BIG DATA ANALYSIS PARTNER MAPS BI
Canada-based telematics company Geotab has acquired one of its partners: Canada-based big data analysts Maps BI., the company said. Maps BI executives Mike Branch, CEO, Bob Bradley, CTO, and Bernard Cheng, Lead Developer, officially joined Geotab's dynamic staff on Jan. 11, 2016.
Founded in 2013 under Canada-based parent company Inovex Inc., Maps BI provides customers with enhanced visualization to assist in the analysis of Big Data.
Status: Closed

-MEDNAX ACQUIRES ANESTHESIOLOGY PRACTICE IN VIRGINIA
US-based medical group Mednax, Inc. (NYSE: MD) has acquired Richmond, Virginia-based private physician group West End Anesthesia Group, Inc. and its related entities, Hanover Anesthesia Group, Inc. and West End Anesthesia Group, LLC, both Virginia-based, in a cash transaction, the company said. The transaction is expected to be immediately accretive to earnings. No additional terms were disclosed.
Status: Closed

-SIGNAL TO BUY MEDICAL MARIJUANA LAB OREGON ANALYTICAL SERVICES
Nevada-based cannabis consulting company Signal Bay Inc. (OTC: SGBY) has entered into an agreement to acquire Eugene, Oregon-based medical marijuana laboratory Oregon Analytical Services, LLC, the company said.
The Oregon Health Authority is currently finalizing both temporary and permanent rules for testing inclusive of standardized batch sizes and increased testing requirements to ensure patient and consumer safety.
Status: Agreed

-KOCH BIOLOGICAL SOLUTIONS AFFILIATE INVESTS IN PATHWAY BIOLOGIC
An affiliate of US-based crop solutions company Koch Biological Solutions, LLC has acquired a minority equity position in, and entered into collaboration with, US-based applied microbial science company Pathway BioLogic, LLC, the company said. Pathway is in the field of biological plant health solutions, with a specific focus on live microbial products.
Status: Closed

-DOCKER ACQUIRES UK-BAED UNIKERNEL SYSTEMS TO EXTEND PLATFORM
California-based technology company Docker, Inc. has acquired Cambridge, UK-based unikernel development company Unikernel Systems, the company said.
The Unikernel Systems team brings to Docker a rich heritage in developing next-generation infrastructure technologies. Unikernels are designed to eliminate complexity and reduce footprint by compiling source code into a custom operating system that includes only the functionality required by the application logic.
Status: Closed