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

-GREEN POLKADOT BOX TO BUY FRESH SEAFOOD SUPPLIER
US-based food distributor Green PolkaDot Box (OTC: GPDB) has executed a purchase agreement for US-based fresh seafood distributor Day Boat Seafood LLC., the company said.
Day Boat is a Marine Stewardship Council (MSC) certified fishery and Primary Producer of wild caught seafood in the Atlantic Ocean and Caribbean Sea, specialising in swordfish. Additional boats harvest yellowfin tuna, big eye tuna, mahi-mahi, snapper, grouper, golden tilefish, pompano, mackerel, golden crabs, shrimp, stone crabs, and lobster.
Status: Agreed

-ASSUREDPARTNERS ACQUIRES TEXAS INSURANCE AGENCY MAXIMGROUP
US-based insurance brokerage AssuredPartners, Inc has acquired Houston, Texas-based insurance agency MaximGroup, the company said.
The agency has been in the Houston area since 1931 and focuses on risk management and insurance brokerage services for commercial, employee benefits and personal needs. MaximGroup's team of 30 will continue operations under a leadership of CEO Ron Masters.
Status: Closed

-STRATESPHERE ACQUIRES ENTREPENEURSHIP EDUTECH FIRM VENTURE HIGHWAY
US-based emerging economy-focused public private partnership specialist StrateSphere has acquired entrepreneurship edutech company Venture Highway, the company said.
StrateSphere specialises in the design and implementation of complex, fit-for-purpose public private partnerships around education, innovation, and economic transformation.
Status: Closed

-ICHOR SYSEMS ACQUIRES AJAX CUSTOM MANUFACTURING
California-based gas and chemical delivery systems manufacturer Ichor Systems has acquired California-based plastic component supplier Ajax Custom Manufacturing, the company said.
Ajax is a 50+ year old family owned business that has historically been a plastic component supplier to major customers in the semiconductor capital equipment market.
Status: Closed

-VELA SOFTWARE ACQUIRES ENGINEERING SOLUTIONS FIRM TECPLOT
Canada-based Constellation Software, Inc.'s (TSX: CSU) Vela Software operating group has acquired visual data analysis software firm Tecplot, Inc., the company said.
Founded in 1981, and headquartered in Bellevue, Washington, Tecplot develops, designs, and sells a variety of computational fluid dynamics post-processing solutions used by tens-of-thousands of engineers and scientists worldwide to help them unlock insights from complex data via visual analysis.
Status: Closed

-CRESTVIEW CAPITAL PARTNERS ACQUIRES OUTPATIENT MENTAL HEALTH TREATMENT PROVIDER SHERMAN COUNSELING
US-based private capital group Crestview Capital Partners has acquired outpatient mental health treatment facility Sherman Counseling, the group said.
Sherman Counseling was founded in 2003 by Dr. Hank Sherman with locations in Appleton, Oshkosh and Green Bay. The facility is comprised of a group of mental health professionals focused on the psychotherapeutic treatment of adults, families and children.
Status: Closed

-LIBERMAN RESEARCH BUYS ONLINE INSIGHTS SPECIALIST TONIC
US-based consulting company Lieberman Research Worldwide (LRW) has completed the purchase of online insight communities specialist Tonic, the company said.
Tonic has offices in London and NYC. The company, which will be now be named LRWTonic, has been using digital technologies to help deliver their research consulting services to clients since 2008.
Status: Closed

-SIMMONS TO ACQUIRE CITIZENS NATIONAL BANK FOR USD 77M
Arkansas, US-based bank holding company Simmons First National Corp. (NASDAQ: SFNC) has entered into a stock purchase agreement to acquire Tennessee-based Citizens National Bancorp, Inc. and Citizens National Bank, the company said.
According to the terms of the agreement, Simmons will acquire all of the outstanding common stock of CNB in a transaction valued at approximately USD 77m (based on the company's 17 May 2016 closing price). The purchase price will consist of 835,741 shares of Simmons' common stock and USD 40.3m in cash.
Status: Agreed

-ANCESTRY ACQUIRES OBITUARY PLATFORM ADPAY
US-based online family history and personal DNA testing service Ancestry.com LLC has entered into a definitive agreement and plan of merger to acquire Memoriams.com obituary input network operator Adpay, Inc. the company said.
Memoriams.com an obituary platform that submits to approximately 3,000 newspapers in the US from a growing number of funeral homes.
Status: Agreed

-SAFE FLEET ACQUIRES VEHICLE BACK-UP CAMERA SYSTEMS FIRM REAR VIEW SAFETY
US-based fleet vehicle solutions company Safe Fleet has acquired US-based back up camera systems provider Rear View Safety, the company said. Based in Brooklyn NY, Rear View Safety is a provider of back up camera systems and video-based road safety solutions.
The company's systems are used in commercial fleets including government fleets, recreational vehicles, truck, trailer, commercial van, construction, emergency, bus and shuttle, agriculture and industrial vehicles.
Status: Closed

-STATE BANK FINANCIAL TO ACQUIRE S BANKSHARES IN USD 11M DEAL
Atlanta, US-based bank holding company State Bank Financial Corp. (NASDAQ: STBZ) has signed a definitive agreement to acquire S Bankshares and its S Bank subsidiary in a cash and stock transaction with a purchase price of approximately USD 11m on a fully diluted basis, or USD 56.70 per share, the company said.
At 31 March, S Bankshares had total assets of approximately USD 109m, total loans of approximately USD 79m, total deposits of approximately USD 95m, and total shareholder's equity of approximately USD 11m. S Bank has banking operations in Savannah, Glennville, Reidsville, and Hinesville, Georgia.
Status: Agreed

-US FEDERAL TRADE COMMISSION CLEARS TO ACQUIRE CONTENT MANAGEMENT FIRM POLYCOM
The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act) for Canada-based communications and collaboration software company Mitel's (NASDAQ: MITL) (TSX: MNW) proposed acquisition of US-based voice, video, and content management compay Polycom (NASDAQ: PLCM), the company said.
Termination of the HSR Act waiting period satisfies one of the conditions to the closing of the pending transaction. The USD 1.96bn, cash and stock transaction, which was announced in April, is expected to close in 3Q16.
Status: Agreed

-FDIC APPROVES NEW JERSEY'S LAKELAND BANCORP TO ACQUIRE HARMONY BANK
New Jersey, US-based bank holding companies Lakeland Bancorp, Inc. (NASDAQ: LBAI) has received approval from the Federal Deposit Insurance Corp. to acquire Harmony Bank (OTCPK: HRMB), the company said.
The USD 32m stock deal provides that shareholders of Harmony Bank will receive 1.25 shares of Lakeland Bancorp common stock for each share of Harmony Bank common stock that they own at the effective time of the merger. The transaction is valued at approximately USD 32m, or USD 12.79 per share, based on the closing price per share of Lakeland Bancorp's common stock of USD 10.23 on February 17, 2016.
Status: Agreed

-NORTH CAROLINA'S FIRST CITIZENS BANK TO ACQUIRE CORDIA BANCORP IN USD 35M DEAL
North Carolina, US-based bank holding company First-Citizens Bank and Trust Co. (known as First Citizens Bank) has agreed to acquire Cordia Bancorp Inc., the company said.
Cordia Bancorp provides retail and commercial banking products and services through its subsidiary, Bank of Virginia. The definitive agreement provides for the acquisition of Midlothian, Virginia-based Cordia Bancorp by First Citizens Bank, which is headquartered in Raleigh, North Carolina.
Status: Agreed

-RUSSIA'S CTC MEDIA COMPLETES CASH-OUT MERGER
Russian media company CTC Media Inc. (NASDAQ: CTCM) has completed its cash-out merger transaction, the company said on Tuesday. The company completed the sale of a 75% interest in its Russian and Kazakh operating businesses in December 2015.
In connection with the sale, CTC's stockholders also approved the proposed merger, in which a wholly owned subsidiary of the company will merge with and into the company, with the company surviving.
Status: Closed

-EBAY'S STUBHUB UNIT TO ACQUIRE TICKET MARKETPLACE TICKETBIS
US-based online auction site eBay Inc. (NASDAQ: EBAY) has agreed to acquire international ticket marketplace Ticketbis, the company said.
Terms of the deal were not disclosed. However, Techcrunch, citing sources close to the company, put the sales price at USD 165m. Ticketbis has a presence in 47 countries. The company will become part of eBay Inc.'s StubHub business, the largest ticket marketplace in the US.
Status: Agreed

-H.I.G. CREDIT AFFILIATE ARRANGES FINANCING FOR LEGRIS INDUSTRIES' ACQUISITION OF SCHIEDERWERK
US-based private equity firm H.I.G.'s H.I.G. WhiteHorse credit affiliate has arranged a EUR 40m unitranche debt refinancing for Belgian industrial group Group Legris Industries to facilitate the acquisition of German power solutions firm Schiederwerk, H.I.G. said.
Schiederwerk is a developer and producer of high-voltage power supplies solutions for a variety of applications such as Sport and Stage lighting, medical devices and industrial equipment. Based in Germany, Schiederwerk was founded in 1919 offers high performance lighting solutions and Medtech.
Status: Closed

-ANTARES CAPITAL ARRANGES FINANCING FOR MIDOCEAN PARTNERS' ACQUISITION OF TRAVELPRO
US-based middle-market financing specialist Antares Capital is serving as administrative agent and joint lead arranger on a new USD 58m senior secured credit facility to support the acquisition of US-based luggage firm Travelpro Group Holdings Inc. by MidOcean Partners, the company said.
Headquartered in Boca Raton, Florida, Travelpro is a designer and marketer of luggage under the Travelpro and Atlantic brand names and the leading licensed luggage, bag and travel accessory provider to the Canadian market through its sister company Holiday.
Status: Closed

-TIME ACQUIRES FORTUNE CHINA PUBLISHER CCI ASIA-PACIFIC
US-based media company Time Inc. (NYSE: TIME) has acquired Hong Kong publisher CCI Asia-Pacific Ltd., the company said. CCI Asia-Pacific is the publisher of Fortune China, Fortune's Chinese-language edition.
The company, a regional business publisher established in 1975 by chairman and editor in chief Thomas Gorman, launched the Fortune Chinese-language edition under license from Time Inc. in 1996. Over the past two decades, the brand has grown into a trusted source of management insight and advice for executives based in China.
Status: Closed

-AMSURG'S PHYSICIAN SERVICES DIVISION ACQUIRES TWO US ANESTHESIOLOGY PRACTICE
US-based healthcare company AmSurg Corp.'s (NASDAQ: AMSG) Sheridan physician services division has acquired US-based Jandee Anesthesiology Partners, PLLC and certain assets of Karadan Anesthesiology and Pain Management, LLP, the company said.
The groups are jointly comprised of five physicians who deliver anesthesia services through a network of nine ambulatory surgery centres and other facilities in New Jersey and New York. This acquisition is complementary to Sheridan's anesthesia practices in New Jersey.
Status: Closed

-CSC TO MERGE WITH IT UNIT OF HEWLETT PACKARD ENTERPRISE
US-based IT company CSC (NYSE: CSC) plans to merge with the Enterprise Services segment of Hewlett Packard Enterprise, the company said. The strategic combination of the two complementary businesses will create one of the world's largest pure-play IT services companies, uniquely positioned to lead clients on their digital transformations.
When combined, the new company is expected to have annual revenues of USD 26bn and more than 5,000 clients in 70 countries.
Status: Agreed

-TAIYO PACIFIC PARTNERS BECOMES SECOND-LARGEST SHAREHOLDER IN HITACHI MAXWELL
Japanese engagement fund Taiyo Pacific Partners has accumulated in excess of 5% in Japanese electronics firm Hitachi Maxwell, Ltd to become the 2nd largest shareholder, the fund said. Hitachi Maxell is a global provider of micro batteries, camera lens and LED headlamp lens for cars.
Taiyo Pacific Partners is in friendly engagement investing in Japan and has been proactively working with senior management at its portfolio companies to enhance shareholder value for over 13 years. Taiyo Pacific Partners is one of the largest engagement funds in Japan investing in publicly-listed Japanese small- and mid-cap companies.
Status: Closed

-FEDEX CLOSES EUR 4.4BN ACQUISITION OF DUTCH PACKAGE DELIVERY FIRM TNT EXPRESS
US-based logistics company FedEx Corp. (NYSE: FDX) has closed its EUR 4.4bn (USD 4.91bn) acquisition of Dutch package delivery firm offer for TNT, the companies said.
FedEx announced plans to acquire TNT in April, 2015. Memphis-based FedEx has annual revenues of USD 49bn (not including TNT Express), and has nearly 400,000 employees. TNT Express is one of the world's largest express delivery companies. On a daily basis, TNT Express delivers close to 1m consignments ranging from documents and parcels to palletised freight.
Status: Closed

-BREGAL SAGEMOUNT ACQUIRES MAJORITY STAKE IN DISCOVERY DATA
New York based private equity firm Bregal Sagemount has acquired Discovery Data, Inc., a provider of data on retail financial services industry firms and professionals, from Ipreo, LLC, the firm said.
As part of the transaction, Discovery Data also acquired Meridian-IQ, a provider of online databases and advisor market information.
Status: Closed

-NIDEC ACQUIRES ITALIAN CABLE HOIST MANUFACTURER
Japanese electric motor manufacturer Nidec Corp. (OTC: NJDCY) (TSX: 6594) has acquired a 100% ownership interest in Italian cable hoist manufacturer E.C.E. S.r.l. from the shareholders, the company said.
Nidec said that the acquisition will strengthen its building construction machine business conducted through its Nidec FIR Elettromeccanica S.r.l. subsidiary.
Status: Closed