Deal Pipeline
Wednesday 27 April 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-CONTENT PLATFORM CRANBERRY ACQUIRES WEBMASTERRADIO.FM
US-based content platform Cranberry has acquired online radio network WebmasterRadio.fm and has re-launched it as Cranberry Radio, the company said.
Founded by Brandy and Daron Babin, WebmasterRadio.fm has been producing online radio and podcast programming for over a decade. During that period, the network became the largest online radio and podcast platform for the digital marketing industry.
Status: Closed

-CAPVIEW PARTNERS ACQUIRES USD 18.7M OF RETAIL PROPERTIES IN TEXAS, MISSOURI
US-based real estate investment and fund management firm Capview Partners, LLC has acquired single-tenant net lease retail (STNLR) properties in Texas and Missouri, the firm said.
The acquired properties include an AutoZone portfolio (three, Texas), a Kohl's (Missouri), a Dollar General (Texas) and a Tractor Supply (Texas). These six STNLR properties, totaling approximately 145,700 square feet and valued USD 18.7m were purchased on behalf of the Capview Partners' current offering. With these recent purchases, Capview Partners now has approximately USD 153m of assets under management across 22 states.
Status: Closed

-MILESTONE OPENS ACQUIRED FACILITY IN EAGLE FORD REGION
US-based oilfield waste management specialist Milestone Environmental Services, LLC has opened its Smiley facility, in Gonzales County, Texas which was acquired in December 2015, the company said. The facility was partially complete when the acquisition took place and since then has been reconfigured to Milestone's standards and is now ready for operation.
Milestone sad that the Smiley location will be capable of taking waste streams including oil-based and water-based muds/drilling fluids, flowback, tank bottoms, dirty water and produced water.
Status: Closed

-ZENITH ENERGY CLOSES ACQUISITION OF AMSTERDAM TERMINAL FROM BP
US-based liquids and bulk terminaling company Zenith Energy has completed its acquisition of a liquids storage and handling facility located in the international port of Amsterdam from British oil major BP plc (NYSE: BP), the company said.
BP will continue to be a major customer of the Amsterdam terminal. Zenith plans to invest approximately USD 100m in the Amsterdam terminal, with the goal to fully utilize its capacity for products and liquefied petroleum gas storage. The Amsterdam terminal is strategically located on the North Sea Canal in the Amsterdam, Rotterdam and Antwerp region.
Status: Closed

-OXFORD FINANCE PROVIDES DIVERSIS CAPITAL WITH CREDIT LINE FOR CALIGOR RX ACQUISITION
US-based specialty finance firm Oxford Finance LLC has closed a senior credit facility with Los Angeles, California-based private equity firm Diversis Capital, LLC, which it used to acquire the majority of the assets of US-based drug distributor Caligor Rx, Inc., the firms said.
Oxford was the sole lender and administrative agent for this transaction. Diversis said it plans to invest heavily in Caligor to enhance its sales and marketing, logistics capabilities, distribution infrastructure and service offerings.
Status: Closed

-BANYAN RAIL SERVICES ON THE HUNT FOR ACQUISITION TARGETS
Former US railroad tie reclamation and disposal company Banyan Rail Services Inc. (OTC: BARA) is currently seeking strategic acquisitions after terminating a deal it struck in February to buy US sink maker International Thermocast and its affiliated companies , Banyan Rail said.
Status: Terminated

-MANGROVE TERMINATES TENDER OFFER FOR ASTA FUNDING SHARES
US-based investment manager Mangrove Partners has terminated its cash tender offer to acquire 3m shares of common stock of US-based consumer receivables firm Asta Funding, Inc. (NASDAQ: ASFI) at an offering price of USD 9.50 per share, the firm said.
The tender offer was due to expire on 9 May 2016. Mangrove Partners on 15 March announced plans to make the offer. The shares to be purchased pursuant to the offer represent approximately 24.8% of the outstanding shares of Asta common stock.
Status: Terminated

-PACIFIC CONTINENTAL TO ACQUIRE BELLEVUE, WASHINGTON'S FOUNDATION BANCORP FOR USD 67.1M
Washington, US-based bank holding companies Pacific Continental Corp. (NASDAQ: PCBK) has signed an agreement and plan of merger under which it will acquire Foundation Bancorp, Inc. (OTC: FDNB) and its Foundation Bank subsidiary, the company said.
Foundation is headquartered in downtown Bellevue, Washington and had USD 422.4m in total assets, USD 299.3m in gross loans and USD 367.5m in total deposits as of 31 March 2016.
Status: Agreed

-CASCADE BANCORP TO ACQUIRE PRIME PACIFIC FINANCIAL SERVICES IN USD 17.1M DEAL
Oregon, US-based bank holding companies Cascade Bancorp (NASDAQ: CACB) and Prime Pacific Financial Services (OTC: PPFS) have entered into a definitive agreement and plan of merger pursuant to which Cascade will acquire Prime Pacific Financial Services, the companies said.
Prime Pacific Financial is the holding company of Prime Pacific Bank, a Snohomish county, national banking association with USD 119.4m in assets, USD 94.7m in net loans, USD 104.8 m in total deposits at 31 December 2015. Cascade expects the transaction will result in modest earnings accretion in 2016 (excluding one-time costs) and expects approximately 5% accretion to earnings in 2017.
Status: Agreed

-RPS GROUP ACQUIRES UK PROJECT MANAGEMENT CONSULTANCY DBK
UK-based energy resources and environmental consultancy RPS Group plc (LSE: RPS) has acquired UK-based project management consultancy DBK Partners Ltd for GBP 13m (USD 19.01m), the group said.
 RPS said that the transaction represents an enhancement of its project management capability in the UK and adds to its international presence in this market. Founded in 2005, DBK has its headquarters in Birmingham, with other offices in London, Manchester and Bournemouth.
Status: Closed

-REACT GROUP ACQUIRES UK ENVIRONMENTAL CONSULTANCY EPUK
UK-based rapid response deep cleaning and emergency decontamination services company React Group plc (AIM: REAT) has closed the acquisition of UK-based environmental waste cleaning and control consultancy Epuk Ltd, the company said.
Epuk has been acquired for an initial consideration of GBP 10,000 (USD 14,621), with a deferred consideration of up to GBP 155,000 being payable once liabilities have been settled. The initial consideration will be settled in cash.
Status: Closed

-LENI GAS CUBA, RUSHMANS FORMALISE JV
UK-based, Cuba-focused Leni Gas Cuba Ltd. and UK-based sports and commercial management organisation Rushmans Ltd have formalised a 50/50 joint venture to explore the opportunities available for international entities to participate in the development funding for Cuban Sport, the companies said.
According to Rushmans, the joint venture has been formed to help Cuban sport build upon its massive potential from social / grassroots to international competition level.
Status: Closed

-KULCZYK INVESTMENTS CLOSES SALE OF 1.5% STAKE IN SABMILLER
Luxembourg-based investment company Kulczyk Investments S.A. has placed 24m existing ordinary shares of SABMiller plc (LSE: SAB) representing approximately 1.5% of the issued share capital of the British-South African brewer, KI said.
The placing took place via an accelerated bookbuild. Credit Suisse Securities (Europe) Ltd. acted as sole Global Coordinator and sole Bookrunner in respect of the placing.
Status: Closed

-COLLAGEN SOLUTIONS ENTERS CHINA JV
UK-based medical grade collagen components maker Collagen Solutions plc (AIM: COS) has entered into a joint venture agreement with Chinese conglomerate China Resources and Investment Vehicle Ltd. (Cre8ive), the company said.
The Collagen Solutions Group provides collagen to a global customer base covering North America, Europe and Asia. Cre8ive is a conglomerate, operating solely within the People's Republic of China, focusing on exclusive or high barrier to entry investment opportunities.
Status: Agreed

-GREENGRO TECHNOLOGIES ACQUIRES GROWCAMERAS
US-based green technologies provider Greengro Technologies, Inc. (OTC: GRNH) has acquired US-based crop monitoring specialist growcameras.com, the company said.
The Grow Camera is a self-contained, WiFi enabled, five megapixel NDVI camera and temp/humidity sensor. It can be used with most modern DVR equipment that support networked cameras while also featuring monitoring capabilities through Android, iOS, or Windows devices using the mobile application.
Status: Closed

-FLORIDA'S STONEGATE BANK TO ACQUIRE REGENT BANCORP FOR USD 40M
Florida, US-based financial services firm Stonegate Bank (NASDAQ: SGBK) has inked a definitive agreement by which it will acquire all the operations of Regent Bancorp, Inc. including Regent Bank subsidiary, the firm said.
Stonegate Bank's management expects the combination will increase total assets to approximately USD 2.7bn and will rank Stonegate Bank as the 9th largest bank headquartered in Florida. The transaction is valued at approximately USD 9.02 per RBI share or USD 40m in the aggregate, based on the closing price for SGBK common stock on 25 April 2016.
Status: Agreed

-SELF-STORAGE WEBSITE STORAGE.COM ACQUIRES USSTORAGESEARCH.COM
US-based self storage industry website Storage.com has purchased US Storage Search, Inc., including the website and business operations of USstoragesearch.com, the company said.
The companies have worked together for more than five years. The acquisition comes one year after the acquisition of Storage.com by its management team. Storage.com launched in 2011 as a website for consumers to find, compare, and rent available storage units across the United States. Initially, Storage.com was powered with USstoragesearch.com listings and inventory.
Status: Closed

-LITMUS ACQUIRES UK CONTENT CURATION TOOL
US-based web-based email creation, testing, and analytics company Litmus has acquired UK-based content curation tool Curated, the company said.
Litmus said that Curated helps subject matter experts collect, curate, and publish highly engaging newsletters. The acquisition follows Litmus' USD 49m investment from Spectrum Equity last October and is the company's second acquisition following its purchase of PutsMail.
Status: Closed

-CANADIAN DEVELOPER REPLAY RESORTS ACQUIRES LAND IN CALIFORNIA
Canadian developer Replay Resorts has acquired a redevelopment site in the town of Healdsburg, California, the company said. Replay has assembled and acquired two sites in this transaction; the currently abandoned Garden Inn, and the home of Nu Forest Products.
The company said that the consolidated 10.4 acre property is two blocks from Healdsburg's historic town square, and is one of the largest contiguous landholdings to be designated for redevelopment by the town and its citizens.
Status: Closed

-ACS SOLUTIONS TO ACQUIRE GENERAL CABLE'S GEPCO BROADCAST CABLING BRAND
US-based cable manufacturer ACS Solutions, Inc. has entered into a definitive agreement with General Cable Corp. (NYSE: BGC) to acquire the Gepco Brand of high-end broadcast cabling solutions, the company said.
The Gepco line provides an offering of professional broadcast, entertainment and audio/visual cable; cable assemblies in both standard and custom configurations; interconnect and cable-related accessories; as well as a full line of optical fiber solutions.
Status: Agreed

-ATHENA REAL ESTATE ACQUIRES FLORIDA CAMPGROUND, RV PARK
US-based property investment and advisory firm Athena Real Estate is has acquired Kissimmee, Florida-based Orange Grove Campground and RV Park (to be re-named Kissimmee RV Park), a 193-site RV Park located at 2425 Old Vineland Road in Kissimmee, Florida.
The property, acquired through an Athena affiliate, is located 6.5 miles from the entrance to Walt Disney World and in close proximity to the other Orlando attractions. Athena said that the RV Park will cater to retirees in the winter and families during the summer when visiting Orlando attractions.
Status: Closed

-LIZTON FINANCIAL TO ACQUIRE INDIANA BUSINESS BANCORP IN USD 12.45M DEAL
US-based bank holding companies Lizton Financial Corp. and Indiana Business Bancorp (OTCQB: IBBI) have executed a definitive merger agreement whereby Lizton will acquire IBB in a cash transaction, the companies said.
As part of the transaction, Indiana Business Bank, a wholly-owned subsidiary of IBB, will merge with State Bank of Lizton, a wholly-owned subsidiary of Lizton. After the transaction, the combined bank will operate as State Bank of Lizton. The merger agreement provides that the shareholders of IBB will receive USD 7.25 per share in cash, for an aggregate merger consideration of approximately USD 12.45m.
Status: Agreed

-BANKING REGULATORS CLEAR COUNTY TO CLOSE USD 28.9M ACQUISITION OF FOX RIVER VALLEY BANCORP
Wisconsin, US-based bank holding companies County Bancorp, Inc. (NASDAQ: ICBK) received all of the regulatory approvals required to complete its merger of Fox River Valley Bancorp, Inc. with and into County Bancorp, Inc., and the merger of The Business Bank with and into Investors Community Bank, the company said.
The merger is expected to close on or about 13 May 2016, subject to customary closing conditions. Last November, the companies entered into a definitive agreement to merge Fox River Valley into County.
Status: Agreed

-ANTHROTRONIX, PELION HEALTHCARE GROUP FORM JV FOR EUROPEAN MARKET
US-based research and development company AnthroTronix and Polish healthcare company Pelion Healthcare Group have signed a joint venture agreement forming a new company, DANA Brain Vital Europe LTD, with each owning half of the newly established company, the companies said.
The new venture is responsible for developing products based on the DANA platform and distributing them in European markets. Products will be marketed using the "CogniNET" brand within Pelion. DANA, which received FDA clearance in October 2014, is a mobile medical app that can be used on a phone or tablet and works on both the Android and iOS operating systems.
Status: Agreed

-BROWN-FORMAN TO ACQUIRE SCOTCH WHISKY DISTILLER BENRIACH FOR GBP 285M
US-based spirits and wine company Brown-Forman Corp. (NYSE: BFB) (NYSE: BFA) has reached definitive agreement to purchase British single malt whisky distillery The BenRiach Distillery Co Ltd. for approximately GBP 285m (USD 416.71m), the company said.
When completed, the purchase will bring The GlenDronach, BenRiach, and Glenglassaugh brands into Brown-Forman's whiskey portfolio. The purchase will include brand trademarks, three malt distilleries, a bottling plant, and the company's headquarters in Edinburgh, Scotland.
Status: Agreed

-MONROE CAPITAL LEADS FUNDING FOR Z CAPITAL PARTNERS' ACQUISITION OF ELECTRIC FIREPLACE MAKER TWIN-STAR
US-based middle-market finance specialist Monroe Capital LLC acted as sole lead arranger and administrative agent on the funding of a senior term loan to support the acquisition of US-based electric fireplace maker Twin-Star International, Inc. by private equity sponsor, Z Capital Partners, L.L.C., the firm said.
Headquartered in Delray Beach, Florida, Twin-Star designs, manufactures and markets a line of decorative electric fireplaces, heaters, home furnishings and consumer electronics. Twin-Star maintains a dedicated supply chain infrastructure in Southern China.
Status: Agreed

-BANKING REGULATORS CLEAR PACIFIC COMMERCE BANK, PROAMERICA BANK MERGER
US-based bank holding companies Pacific Commerce Bancorp (OTC: PCBC) and ProAmérica Bank (OTC: PMRA) have received all necessary regulatory approvals for the merger of the two banks, the companies said.
Last week, the deal was cleared by the Federal Reserve. The transaction remains subject to and is conditioned upon receiving shareholder approvals from both institutions. The combined institution will have total assets of approximately USD 560m upon the close and five offices from Downtown Los Angeles to south San Diego County.
Status: Agreed

-AVERY DENNISON TO ACQUIRE LABEL MAKER MACTAC'S EUROPEAN OPERATION IN EUR 200M DEAL
US-based office products maker Avery Dennison (NYSE: AVY) has inked a definitive agreement to acquire the European business of label maker Mactac from private equity firm Platinum Equity for EUR 200m (USD 226.53m) including assumed debt.
Mactac Europe posted 2015 year-end run-rate revenues of EUR 147m, or approximately USD 170m, and has approximately 470 employees. He business is a manufacturer of pressure-sensitive materials, serving several segments, including graphics, specialty labels and industrial tapes. Mactac's core product lines complement Avery Dennison's existing graphics portfolio.
Status: Agreed

-US MANUFACTURER SPARTON TAPS WELLS FARGO SECURITIES TO FIND BUYER
US-based electromechanical device maker Sparton Corp.'s (NYSE: SPA) board of directors has authorized Wells Fargo Securities, LLC to conduct a process to identify parties interested in acquiring the entire company as part of its previously announced exploration of strategic alternatives, the company said.
Sparton said the decision was made after carefully considering a number of options presented by Wells Fargo upon the completion of their strategic alternative review engagement. The company is working with Wells Fargo to prepare the necessary marketing materials and expects to begin engaging with interested parties by the end of June.
Status: Talks

-LAGERCRANTZ ACQUIRES SWEDISH OFFICE ACCESSORIES PROVIDER KONDATOR
Swedish technology group Lagercrantz (STO: LAGRB) has acquired all the shares of Swedish office accessories firm Kondator AB, the group said. Kondator develops and markets accessories for offices and workplaces. Customers mainly consist of office furniture manufacturers, distributors and resellers of office furniture with an ergonomic focus.
The majority of sales are generated in Sweden, but Kondator's exports are increasing to the Nordic region and to the rest of Northern Europe. Kondator's operations are based in Tyresö outside Stockholm and it generates annual revenues of about SEK 60m with good profitability.
Status: Closed

-AFFIRM ACQUIRES PERSONAL FINANCE MANAGEMENT APP SWEEP.CO
US-based point-of-sale financing company Affirm, Inc. is acquiring the personal finance management app company Sweep Inc., the company said.
Sweep co-founders Jackson Gates and Asi Behar as well as the majority of the Sweep engineering team will be joining Affirm following the acquisition. Affirm's current services give shoppers the flexibility to buy now and make simple monthly payments for their purchases.
Status: Closed

-QUALA ACQUIRES MINNESOTA TRUCK WASH
US-based bulk transportation container cleaning company Quala has acquired the Minnesota, US-based South St. Paul Truck Wash, the company said.
This is the 10th acquisition made by Quala since 2012, expanding the company's footprint to more than 60 locations across the US. Located on the corner of Concord St. S and Grand Ave. in South St. Paul, the South St. Paul Truck Wash is the provider of chemical and food-grade tank cleaning services in the Twin Cities region.
Status: Closed

-AMERICAN MIDSTREAM ACQUIRES STAKE IN GOM PIPELINE
US-based midstream MLP American Midstream Partners, LP (NYSE: AMID) has acquired a 66.7% interest in the Okeanos pipeline, a 100-mile gas gathering system located in the Gulf of Mexico, from an affiliate of the partnership's general partner, American Midstream said.
American Midstream said the acquisition of the Okeanos pipeline complements the partnership's existing offshore infrastructure and further strengthens the partnership's position as a significant and integrated participant in offshore infrastructure, particularly in the deep-water.
Status: Closed