Deal Pipeline
Thursday 26 May 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-WESTLAKE CHEMICAL CONTINUES TO FIGHT FOR AXIALL

US-based petrochemicals and building products maker Westlake Chemical Corp. (NYSE: WLK) currently intends to submit a revised proposal, or reaffirm its current proposal, in its bid to acquire all of the outstanding shares of US-based chemical and building products maker Axiall Corp. (NYSE: AXLL), the company said.
In January, Westlake Chemical submitted a proposal to acquire all of the outstanding shares of US-based chemical and building products maker Axiall Corp. (NYSE: AXLL) for USD 20.00 per share (comprised of USD 11.00 in cash and 0.1967 of a Westlake share.
Status: Bidding

-LUMINEX UPS PRICE TO ACQUIRE MOLECULAR DIAGNOSTICS FIRM NANOSPHERE
US-based biotechnology company Luminex Corp. (NASDAQ: LMNX) and molecular diagnostic firm Nanosphere, Inc. (NASDAQ: NSPH) have entered into an amendment to their definitive agreement under which Luminex will acquire molecular microbiology and molecular diagnostic Nanosphere, the company said.
The original deal, announced earlier this month called for Luminex to USD 1.35 per share in an all cash transaction valued at approximately USD 58m. Under the amended deal, the purchase price has been increased to USD 1.70 per share from USD 1.35 per share in an all cash transaction valued at approximately USD 77m. 
Status: Agreed

-PATRICK INDUSTRIES CLOSES ACQUISITION OF US CABINETRY MAKER CANA HOLDINGS
US-based RV interior and kitchen cabinet maker Patrick Industries, Inc. (NASDAQ: PATK) has completed the acquisition of the business and certain assets of custom cabinetry manufacturer Cana Holdings, Inc. and its subsidiaries, the company said.
The net purchase price for Cana was approximately USD 16.8m. Cana, with two operations in Elkhart, Indiana and one in Americus, Georgia, is a custom cabinetry manufacturer primarily serving the manufactured housing industry and the residential, hospitality and institutional markets.
Status: Closed

-CBOE HOLDINGS BUYS STAKE IN FUTURES EXCHANGE GROUP ERIS
US-based exchange operator CBOE Holdings, Inc. (NASDAQ: CBOE) and futures exchange group has made a minority equity investment in its parent, Eris Exchange Holdings, LLC, the firm said.
Eris is a US-based futures exchange group offering swap futures as a capital-efficient alternative to over-the-counter swaps. Concurrent with this investment, CBOE will join Eris' board of directors. CBOE and Eris are launching a strategic partnership to develop product solutions that are expected to address the impact of international regulatory reforms, including Basel III, European swap clearing and trading mandates, and margin for un-cleared swaps.
Status: Closed

-BSR TRUST ACQUIRES TEXAS MULTI FAMILY COMMUNITY
US-based property owner BSR Trust, LLC has completed an acquisition of the West End Lodge apartment homes in Beaumont, Texas, the trust said.
The purchase of West End Lodge marks the second acquisition BSR Trust, LLC has made in the Beaumont market in under a year. BSR Trust, LLC purchased The Pointe Apartments in July of 2015. West End Lodge was built in 2007 and contains 360 residences in an even mix of one bedroom and two bedroom floorplans. It has received an ApartmentRatings.com "Top Rated Award" three of the last four years.
Status: Closed

-BRIDGESTONE AMERICAS SELLS VENEZUELA OPERATIONS
Japanese tyre maker Bridgestone Corp's Bridgestone Americas unit has reached an agreement to divest its business in Venezuela, Bridgestone Firestone Venezolana C.A., to the Corimon Group, the company said.
This divestiture follows BFVZ deconsolidation in 3Q15, and a strategic decision to prioritize Bridgestone's growth and investment in other Latin American markets.
Status: Agreed

-US NONPROFITS TECH IMPACT, 501Ctech TO MERGE
US-based nonprofit technology services organisation Tech Impact has agreed on a plan of merger with Washington, DC nonprofit provider of technology support provider 501cTECH, the organisation said.
The merger is expected to become effective on or about 1 July 2016, subject to the satisfaction of customary closing conditions. These two organisations have worked together for more than a dozen years and were original members of the NPower Network created by Microsoft to deliver affordable and sustainable solutions for community-based nonprofits.
Status: Agreed

-MOTORSPORT NETWORK ACQUIRES UK MODEL MAKER AMALGAM HOLDINGS
US-based online sports information provider Motorsport Network has acquired UK-based handmade large-scale model maker Amalgam Holdings Ltd, the company said. Under terms of the transaction agreement, the company, which is headquartered in Bristol, UK, will be renamed The Amalgam Collection Ltd.
Amalgam will leverage Motorsport Network's multinational and multimedia presence, including sales and marketing operations in 21 regions and 14 native languages around the world.
Status: Closed

-QATARI SPORTS BROADCASTER BEIN SPORTS ACQUIRES RIGHTS TO COLLEGIATE GROUP CONFERENCE USA
Qatar-based broadcast sports provider beIN Sports has acquired multi-year broadcasting rights for Irving, Texas-based collegiate athletic group Conference USA, the company said.
Programming from this collegiate athletic conference will kick off this Fall with a full offering of events including football, men's and women's basketball, and baseball, all available on beIN SPORTS and beIN Sports CONNECT, the network's streaming service.
Status: Closed

-AMULET CAPITAL PARTNERS ACQUIRES BIOPHARMA CRO SYNTERACTHCR
Greenwich, Connecticut-based middle-market private equity investment firm Amulet Capital Partners, LP has acquired US-based biopharma contract research organisation SynteractHCR Holdings Corp. from San Francisco, California-based private equity firm Gryphon Investors, the company said.
Headquartered outside San Diego, California, SynteractHCR was founded in 1995 and is now a top 20 global fullā€service CRO with more than 800 staff members across 21 countries. Gryphon Investors acquired a majority interest in SynteractHCR in 2008 and supported the company's growth into a global business.
Status: Closed

-MEDIWARE ACQUIRES HUMAN SERVICES SOFTWARE FIRM BOWMAN SYSTEMS
Kansas-based healthcare and human services software provider Mediware Information Systems, Inc. has acquired Louisiana-based software solutions for human services provider Bowman Systems, LLC, the company said.
Mediware acquired Bowman Systems to increase the breadth of its product offerings for human and social services programmes.
Status: Closed

-SEDGWICK CLAIMS MANAGEMENT SERVICES ACQUIRES IRISH OUTSOURCED SERVICES FIRM OSG
US-based technology-enabled risk and benefits solutions provider Sedgwick Claims Management Services, Inc. has agreed to acquire Ireland-based independent specialist outsource services provider OSG Group, the company said.
As part of the purchase agreement, OSG's team of more than 400 colleagues in eight locations across Ireland will join the international operations of Sedgwick and its subsidiary Vericlaim. The transaction is expected to close next month, subject to customary conditions and approvals.
Status: Closed

-ALTAIR TO ACQUIRE PERUVIAN MINE OWNER EPIC
Canada-based exploration stage company Altair Gold Inc. (TSX Venture: AVX) has signed a binding letter of intent with an arm's length company to acquire 100% of buyer of South American assets Epic Mining Corp. which in turn owns 99% of Peru-based resource property owner Panamericana SAC, the company said.
The terms for the acquisition are that the company will, on closing, issue 500,000 common shares and pay USD 60,125.
Status: Agreed

-RISK MANAGEMENT SOLUTIONS FIRM COURION BECOMES CORE SECURITY FOLLOWING ACQUISITIONS
US-based vulnerability and access risk management solutions provider Courion has changed its name to Core Security, following the recent acquisitions of US-based vulnerability assessment products provider Core Security and Canada-based mobile multi-factor authentication solutions provider SecureReset, the company said.
Under the unified company name, Core Security will continue to offer a suite of identity management, access governance, vulnerability assessment and penetration testing products and services.
Status: Closed

-SPIRE CAPITAL INVESTS IN E-COMMERCE FIRM ON CAMPUS MARKETING
New York-based business and education services equity firm Spire Capital has invested in US-based e-commerce provider On Campus Marketing, the company said.
OCM will use Spire's financial investment to enhance its digital marketing and mobile commerce solutions and to provide its target market with expanded product assortments such as logo apparel. Sean White, one of Spire's general partners, will be chairman of OCM's board of directors. Anthony Cassano, Principal at Spire Capital and Don Stewart, CFO at Spire Capital, will also join OCM's Board.
Status: Closed

-IMS HEALTH ACQUIRES CANADIAN DATA GOVERNANCE SOFTWARE FIRM PRIVACY ANALYTICS
US-based healthcare industry technology provider IMS Health (NYSE: IMS) has acquired healthcare information technology solutions provider Privacy Analytics Inc., the company said.
Affirming IMS Health's long-standing practices for safeguarding patient privacy, the acquisition advances the company's ability to help life sciences clients drive R/D and commercial performance and demonstrate treatment value in real-world settings. It also reinforces IMS Health's role as a partner of choice for health systems, payers, providers and researchers as they seek new insights from healthcare data--with strong support for responsible privacy management.
Status: Closed

-SYNOPSYS COMPLETES ACQUISITION OF GOLD STANDARD SIMULATIONS
US-based electronic design automation software company Synopsys, Inc. (NASDAQ: SNPS) has completed the acquisition of simulation solutions provider Gold Standard Simulations Ltd., the company said.
Gold Standard offers TCAD and EDA simulation solutions for design technology co-optimization of advanced process nodes.
Status: Closed

-MASSACHUSETTS US BANKS SPENCERBANK, SOUTHBRIDGE SAVINGS BANK CHOOSE POST-MERGE BRANDING
Massachusetts, US-based bank holding company Spencer MHC's SpencerBank subsidiary and Green Valley Bancorp MHC's Southbridge Savings Bank have agreed to combine their two mutual holding companies under the name SSB Community Bancorp MHC, the companies said.
Last October, the companies agreed to combine their two mutual holding companies, the banks said. At the time, the two banks said they would continue to remain separate, independent entities.
Status: Agreed

-VAPOR TO ACQUIRE FLORIDA ORGANIC GROCERY STORE FOR USD 3M
US-based e-cigarettes and supplies distributor and retailer Vapor Corp. (OTCQB: VPCO) has signed a definitive agreement to acquire the assets of Florida-based natural and organic grocery store Ada's Natural Market, the company said.
The purchase price is USD 3m in cash plus any adjustments for inventory levels. The store will continue to operate under the same name and management. Vapor expects to close the transaction on or about 1 June 2016. The company plans to fund the acquisition through currently available cash.
Status: Agreed

-STANDARD MOTOR TO BUY AUTOMOTIVE IGNITION WIRE BUSINESS FROM GENERAL CABLE FOR USD 71M
US-based automotive replacement parts manufacturer and distributor Standard Motor Products, Inc. (NYSE: SMP) has signed a definitive agreement to acquire General Cable Corp.'s automotive ignition wire business for approximately USD 71m, the company said.
The acquisition will include the purchase of General Cable's automotive ignition wire business in North America as well as a subsidiary in Mexico. Standard Motor said that the 2015 sales volume for this business was approximately USD 96m.
Status: Agreed

-ENERGIZER TO ACQUIRE AUTOMOTIVE FRAGRANCE PRODUCTS FIRM FOR USD 340M
US-based battery maker Energizer Holdings, Inc. (NYSE: ENR) has agreed to acquire automotive fragrance and appearance products supplier HandStands Holding Corp. from Trivest Partners for an aggregate cash purchase price of USD 340m, the company said.
HandStands is a designer and marketer of automotive fragrance and appearance products. Inclusive of recent acquisitions, calendar year 2015 pro forma net sales were approximately USD 128m, with approximately 80% in the US, and adjusted pro forma EBITDA was approximately USD 34m. The company's brands such as Refresh Your Car!, California Scents, Driven, Bahama and Co., Lexol and Eagle One.
Status: Agreed

-HECLA TO ACQUIRE US SILVER PRODUCER MINES MANAGEMENT
US-based precious metals supplier Hecla Mining Company (NYSE: HL) and US-based precious metals exploration company Mines Management, Inc. (NYSE MKT: MGN) (TSX: MGT) have agreed that Hecla will acquire Mines Management, the company said.
In the proposed merger, each outstanding common share of Mines Management will be exchanged for 0.2218 of a common share of Hecla. This represents a 41% premium to Mines Management, using both companies' 10 day VWAP (Volume Weighted Average Price) on May 20, 2016. The transaction is expected to close in the third quarter, 2016, subject to approval by Mines Management shareholders and other closing conditions.
Status: Agreed

-ANTI-SLIP FOOTWEAR BRAND SHOES FOR CREWS TO ACQUIRE MOZO SHOES BRAND
US-based slip-resistant footwear supplier Shoes For Crews, LLC plans to acquire the Oregon-based slip-resistant culinary footwear brand Mozo Shoes from US-based footwear sourcing company Chinook Asia, LLC, the company said.
The parties expect the transaction to close in summer 2016. With its premium line of casual culinary footwear, the Mozo brand will complement SFC's existing portfolio of athletic, casual, dress and work shoes. Mozo will be maintained as a separate brand and will be sold through SFC's existing channels of distribution.
Status: Agreed

-MARQUEE DENTAL PARTNERS BUYS 5 ALABAMA, US PRACTICES
US-based dental support organisation Marquee Dental Partners has acquired five practices in the state of Alabama, the company said.
Marquee Dental has entered into an affiliation agreement with Save-On Dental, a multi-specialty dental practice with locations in Arab, Foley, Millbrook, Pelham and Saraland. Save-On Dental co-founder Dr. John Denton will continue to be actively involved in the practice. Marquee Dental's business model places heavy emphasis on dentists' clinical autonomy and will leave in-place Save-On Dental's dentists and staff.
Status: Closed

-US DINING CRUISE FIRM ENTERTAINMENT CRUISES BUYS PAOMAC RIVERBOAT
US-based dining cruise company Entertainment Cruises has acquired Alexandria, Virginia-based Potomac Riverboat Co., the company said. The acquisition expands Entertainment Cruises' national fleet to 38 vessels, serving more than 1.8 million guests annually.
Potomac Riverboat has served the Washington, DC area with private charters, sightseeing and water taxi cruises since 1974, and will remain headquartered at its home port in Alexandria. The combined organisations' local fleet of 13 vessels makes the Washington, DC area Entertainment Cruises' largest operation, with an expanded staff of 500 serving more than 600,000 guests each year.
Status: Closed

-BERKSHIRE HATHAWAY HOMESERVICES BOBBY TALLO REALTY ACQUIRES LOUISIANA REAL ESTATE BROKERAGE
US-based brokerage Berkshire Hathaway HomeServices affiliate Berkshire Hathaway HomeServices Bobby Tallo Realty has expanded its presence in Tangipahoa Parish with the acquisition of Louisiana-based realty Pezant Real Estate, the company said.
The transaction adds 13 agents to the Bobby Tallo Realty team. Real estate veteran Bob Pezant has owned and operated the brokerage since 2000. He will continue with Bobby Tallo Realty as an agent and mentor to his team.
Status: Closed

-EASERLY GOVERNMENT PROPERTIES ACQUIRES NEBRASKA, US NATIONAL PARK SERVICE PROPERTY
US-based commercial properties management company Easterly Government Properties, Inc. (NYSE: DEA) has closed on the acquisition of a 62,772-square foot National Park Service building in Omaha, Nebraska, the company said.
NPS - Omaha houses the NPS Midwest Regional Headquarters and serves as a visitor centre for the Lewis and Clark National Historic Trail. Established in 1916, the National Park Service, an agency within the Department of Interior, serves as the steward of public natural and cultural resources of national significance.
Status: Closed

-PEOPLEADMIN ACQUIRES RECRUITING FIRM TEACHERMATCH
US-based education management software provider PeopleAdmin has acquired US-based recruitment company TeacherMatch, the company said. The companies plan to offer a talent management platform and analytical solution for identifying, hiring, and developing educators most effective at driving student achievement.
PeopleAdmin said that the combined company will operate under its name. TeacherMatch provides cloud-based recruitment, screening, professional development, and workforce planning solutions for K-12 school districts, and offers data-driven, research-based and analytically predictive teacher assessment.
Status: Closed

-US BATTERY MAKER ENERGIZER TO ACQUIRE HANDSTANDS CAR AIR FRESHENER
US-based automobile air freshener company HandStands has agreed to be acquired by US-based battery maker Energizer Holdings, Inc. (NYSE: ENR), the company said.
The transaction is subject to customary closing conditions, including regulatory approvals. The acquisition is expected to close in 3Q16. Founded in 1983, and headquartered in Draper, Utah, HandStands designs and markets automotive fragrance and appearance products.
Status: Agreed

-DEVRY EDUCATION'S BECKER TO BUY ANTI-MONEY LAUNDERING SPECIALST FOR USD 330M
US-based educational services provider DeVry Education Group (NYSE: DV) subsidiary and US-based education resource company Becker Professional Education has entered into an agreement to acquire international anti-crime organization Association of Certified Anti-Money Laundering Specialists (ACAMS) for a purchase price of USD 330m, the company said.
The transaction is expected to close in July 2016, subject to antitrust approval and other customary closing conditions. ACAMS is currently owned by New York-based private equity firm Warburg Pincus.
Status: Agreed

-BOSTON PROPERTIES AGREES TO ACQUIRE 49.8% STAKE IN CALIFORNIA OFFICE JV FOR USD 511.1M
US-based real estate investment firm Boston Properties, Inc. (NYSE: BXP) has signed a binding agreement with real estate funds managed by US-based private equity firm Blackstone to acquire a 49.8% interest in an existing joint venture with US-based retirement provider Teachers Insurance and Annuity Association (TIAA), the firm said.
Boston Properties will make the acquisition through its investment in Chicago, Illinois-based office building owner Equity Office Properties. This JV owns the fee interest in Santa Monica, California-based office campus Colorado Center, the company said.
Status: Agreed