Deal Pipeline
Wednesday 03 August 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-AGILENT TECHNOLOGIES CLOSES ASSET ACQUISITION OF LABORATORY MANAGEMENT SOFTWARE FIRM ILAB
US-based application-focused solutions provider Agilent Technologies Inc. (NYSE: A) has closed the acquisition of the assets of Boston, Massachusetts-based laboratory management solutions provider iLab Solutions, LLC, the company said.
The acquisition is expected to be completed in early August, subject to local laws and regulations and customary closing conditions. This acquisition includes iLab's technology, intellectual property and product portfolio, as well as employee talent.
Status: Closed

-HURON CONSULTING GROUP CLOSES ACQUISITION OF HEALTHCARE IT SPECIALIST HSM CONSULTING
US-based application-focused solutions provider Agilent Technologies Inc. (NYSE: A) has closed the acquisition of the assets of Boston, Massachusetts-based laboratory management solutions provider iLab Solutions, LLC, the company said.
The acquisition is expected to be completed in early August, subject to local laws and regulations and customary closing conditions. This acquisition includes iLab's technology, intellectual property and product portfolio, as well as employee talent.
Status: Closed

-UNUM CLOSES USD 127M ACQUISITION OF LOUISIANA-BASED STARMOUNT LIFE INSURANCE
US-based insurer Unum (NYSE: UNM) has closed the acquisition of US-based insurance holding company H/J Capital, LLC, the company said.
H/J Capital, LLC is the parent of Starmount Life Insurance Co. and dental and vision benefits company AlwaysCare Benefits. Unum, a provider of financial protection benefits at work, including disability, life and supplemental health products, is acquiring Starmount for USD 127m plus net assets.
Status: Closed

-AXALTA COATING SYSTEMS CLOSES ACQUISITION OF PAINT MAKER DURA COAT PRODUCTS
US-based liquid and powder coatings supplier Axalta Coating Systems (NYSE: AXTA) has closed the acquisition of US-based metal coil coatings maker Dura Coat Products, the company said.
Pursuant to the agreement, Axalta will initially purchase a majority stake in Dura Coat at the closing and the remaining outstanding shares by January 2019, subject to required regulatory approvals and other customary closing conditions.
Status: Closed

-MOLINA HEALTHCARE CLOSES USD 41.3M ACQUISITION OF NEW YORK MEDICAID PLAN
California-based Medicaid-related solutions provider Molina Healthcare, Inc. (NYSE: MOH) has closed the acquisition of New York-based health insurance and managed care provider Universal American Corp.'s (NYSE: UAM) Total Care Medicaid plan in upstate New York for USD 41.3m, the company said.
Under the terms of the agreement, Molina acquired all the outstanding equity interests of Today's Options of New York, Inc., which operates the Total Care Medicaid plan, for a purchase price of USD 41.3m, subject to closing date balance sheet adjustments.
Status: Closed

-CIRTEC MEDICAL ACQUIRES COMPONENTS, ASSEMBLIES MANUFACTURER STELLAR TECHNOLOGIES
US-based outsourced medical device design, engineering and manufacturing services company Cirtec Medical has acquired US-based medical device components and assemblies manufacturer Stellar Technologies, Inc., the company said.
Cirtec Medical is a portfolio company of US-based private equity firm Century Park Capital Partners. Headquartered in Brooklyn Park, Minnesota, Stellar is a provider of precision machining, component manufacturing, and assembly services for medical devices, including neuromodulation lead wire assemblies, mechanical assemblies, delivery systems, and electro-mechanical medical devices.
Status: Closed

-KINDRED HEALTHCARE ACQUIRES ARKANSAS DEPARTMENT OF HEALTH'S IN-HOME HEALTH CARE OPERATIONS
US-based hospital operator Kindred Healthcare, Inc. (NYSE: KND) and the Arkansas Department of Health have completed an agreement for Kindred to acquire the in-home health care operations from ADH, the organisations said.
This includes licenses to provide home health, hospice and personal care services throughout the state of Arkansas, for approximately USD 39m. Kindred reached an agreement with ADH following a state bidding process.
Status: Closed

-INSIDE SECURE TO SELL SEMICONDUCTOR BUSINESS TO SWISS CYBERSECURITY FIRM WISEKEY
French mobile device embedded security solutions provider Inside Secure (PAR: INSD) has executed a binding agreement to sell its semiconductor business to Swiss cybersecurity company WISeKey International Holding Ltd (SIX: WIHN), the company said.
This follows on from a 19 May announcement by the company and represents the final stage in the process of repositioning Inside Secure around software security and technology licensing. Inside Secure sold the business for an enterprise value of USD 13.2m (CHF13m), net of transferred cash.
Status: Agreed

-US ENGINEERING DESIGN, CONSULTING FIRM MAZZETTI MERGES WITH GENE BURTON
US-based engineering design and consulting firm Mazzetti Inc. and US-based healthcare technology consulting firm Gene Burton and Associates have merged, the firms said. The merged company will retain the Mazzetti Inc. name and the combined brand will be known as Mazzetti GBA.
GBA CEO Suzan Logan and senior vice president Ted Hood will be Mazzetti principals and lead Mazzetti's technology division. For more than 50 years, Mazzetti has planned, designed and built the infrastructure for facilities. And for nearly 30 years, GBA has been in healthcare technology consulting and IT.
Status: Closed

-US CLINICAL RESEARCH SITE NETWORK BTC ACQUIRES NOVEX MEDICAL RESEARCH
US-based clinical research site network BTC Network has acquired US-based multi-specialty research practice Novex Clinical Research, LLC, the company said.
As a result of the deal, Novex Clinical Research will be the first clinical research site to be owned and operated under the BTC Network umbrella. BTC said that the deal will strengthen its expertise and commitment to therapeutic areas such as psychiatry, neurology, pain, and internal medicine.
Status: Closed

-RETAILER KROGER'S 84.51* UNIT ACQUIRES PREDICTIVE ANALYTICS FIRM MARKET6
US-based supermarket operator Kroger's 84.51° customer engagement unit has acquired US-based predictive analytics company Market6, the company said. Market6 has offices in Cincinnati and suburban Chicago.
The company is focused on product movement data solutions and extensive capabilities in data, insights and customer experience for over 1,000 consumer packaged goods and retail clients. 84.51° said its objective is to leverage Market6's technology, IP and people to expand its work with The Kroger Co., as well as Kroger's regional grocery retailers and the CPG business.
Status: Closed

-HIG CAPITAL CLOSES ACQUISITION OF EDUCATION SOFTWARE FIRM SYMPLICITY
An affiliate of US-based private equity firm H.I.G. Capital has acquired 100% of US-based education software company Symplicity Corp, the company said.
Headquartered in Arlington, Virginia, Symplicity sells SaaS-based solutions to over 1,200 colleges and graduate school programmes that help manage all aspects of a student's life on campus, including career services, academics, behavioral intervention, and student conduct.
Status: Closed

-SES CLOSES ACQUISITION OF 100% OF SATELLITE OPERATOR O3B NETWORKS
Luxembourg-based satellite services provider SES S.A. (Euronext Paris: SESG) (LuxX: SESG) has closed the acquisition of the remaining shares and warrants of O3b Networks, the company said.
O3b Networks operates a constellation of 12 high throughput satellites in a medium earth orbit around 8,000 kilometres from the Earth. Each of the constellation's beams are capable of delivering up to 1.6gb per second of throughput at a low latency of less than 150ms, a significant improvement over geostationary connectivity.
Status: Closed

-US TECHNOLOGY FIRM OPINIT AGREES TO BUYOUT BY CANADIAN SMARTPHONE APPLICATIONS DEVELOPER FUNDAMENTALS
US-based technology firm Opinit LLC has agreed, in principle, to be acquired by Canadian smartphone applications developer Fundamental Applications Corp (CSE: FUN) (FRA:2FA) (OTCQB: FUAPF), the company said.
Opinit has developed and launched a mobile web content sharing platform. The Opinit application totes an emotion-based content discovery algorithm that hosts nearly 30,000 users across the United States and Europe.
Status: Agreed

-EDGENUITY ACQUIRES EDUCATION SOFTWARE PROVIDER COMPASS LEARNING
US-based online and blended learning solutions company Edgenuity has acquired education software provider Compass Learning, the company said.
The acquisition of gives Edgenuity a full K-12 math and English language arts curriculum product line. Compass Learning, based in Austin, Texas, offers software for blended learning, intervention and inquiry-based personalised learning.
Status: Closed

-WATFORD SPECIALTY INSURANCE ACQUIRES PREVIOUSLY DORMANT CARRIER
Bermuda-based reinsurance company Watford Specialty Insurance Co. has acquired a previously-dormant insurance company that holds admitted insurance licenses in all 50 states and the District of Columbia, the company said.
This carrier has been renamed Watford Insurance Company and has re-domesticated to New Jersey, WSIC's domicile state.
Status: Closed

-GLEN PARK HYDRO ACQUIRES A 33MW RUN-OF-THE-RIVER FACILITY IN NEW YORK
US-based hydropower development and operating platform Cube Hydro Partners's Glen Park Hydro LLC affiliate has acquired a 100% ownership interest in the Glen Park hydro power generation plant, the company said.
Glen Park is a 32.65mw run-of-the-river facility on the Black River near Watertown, New York, and is expected to produce approximately 150,000 megawatt-hours of clean electricity per year.
Status: Closed

-AXALTA COATING SYSTEMS ACQUIRES DUTCH DISTRIBUTOR GEERAETS AUTOLAK
US-based liquid and powder coatings manufacturer Axalta Coating Systems (NYSE: AXTA) has acquired the business of Dutch distributor Geeraets Autolak, the company said.
Geeraets Autolak has been a distributor of Axalta's Cromax refinish coating products in the Netherlands for nearly 40 years. The operations of Geeraets Autolak will be integrated into the Axalta organisation, operating under the Cromax name. The acquisition takes effect immediately.
Status: Closed

-THE HARTFORD CLOSED USD 170M MAXUM SPECIALTY INSURANCE ACQUISITION
US-based insurer The Hartford (NYSE: HIG) has closed the purchase Northern Homelands Co., the holding company of Maxum Specialty Insurance Group, for USD 170m in cash, the company said.
Maxum Specialty Insurance Group was founded in 2003. The group is comprised of Maxum Indemnity Co. and Maxum Casualty Insurance Co. Maxum Indemnity is an authorised non-admitted excess and surplus lines insurer in 49 states; the District of Columbia; and the territories of Puerto Rico and the US Virgin Islands. Maxum Casualty is an approved admitted carrier in 50 states and the District of Columbia.
Status: Closed

-KYOCERA TO ACQUIRE JAPANESE OPTICAL COMPONENT MANUFACTURER MELLES GRIOT KK
Japanese ceramics manufacturer Kyocera Corp. (NYSE: KYO) (TOKYO: 6971) will acquire all shares in Japanese optical components manufacturer Melles Griot KK from US-based Idex Corp., the group said.
Melles Griot KK is expected to become a wholly owned Kyocera Group company effective on September 1, 2016. Kyocera Optec Co., a subsidiary of Kyocera Corp., is an optical components provider focusing on development, production and sales of optical lenses and devices for the growing automotive market as well as for the factory automation and medical markets.
Status: Agreed

-SYMANTEC CLOSES USD 4.651M ACQUISITION OF WEB SECURITY SPECIALIST BLUE COAT
US-based cybersecurity firm Symantec (NASDAQ: SYMC) has closed the acquisition of US-based web security firm Blue Coat, Inc. for approximately USD 4.651bn in cash, the company said.
The transaction has been approved by the boards of directors of both companies and is expected to close in 3Q16. As previously reported, Michael Fey will serve as president and chief operating officer and Thomas Seifert will continue to serve as executive vice president, chief financial officer of Symantec.
Status: Closed

-CONVERGYS CLOSES EUR 123M ACQUISITION OF GERMAN CUSTOMER MANAGEMENT FIRM BUW
US-based customer management company Convergys Corp. (NYSE: CVG) has closed the acquisition of Germany-based buw for EUR 123m (USD 135.81m) in cash, the company said. Convergys also said that the transaction is expected to be accretive to Convergys earnings, excluding one-time charges, intangible amortization and integration costs.
The company added that, by adding buw's geographic footprint, complementary client base, and German language capabilities, Convergys expects the acquisition to expand its presence in the growing EUR 3bn German outsourced customer management services industry.
Status: Closed

-TENNANT COATINGS ACQUIRES FLOROCK POLYMER FLOORING BRAND FROM CRAWFORD LABORATORIES
US-based surface maintenance equipment maker Tennant Co. (NYSE: TNC) has expanded its Floor Coatings business with the purchase of assets and liabilities related to the commercial floor coatings business of from Crawford Laboratories, Inc., and affiliates, the company said.
Crawford Laboratories and its affiliates are owners of the Florock Polymer Flooring brand of Chicago, Illinois. Florock, a third-generation, family-run business, offers a range of floor coating systems for a wide variety of industries.
Status: Closed

-BEVERAGE CONSULTANT PRODUCTION SERVICES MERGES WITH BEVSOURCE
US-based beverage industry production and consulting specialist Production Services International and its BevSource unit will merge into one company under the BevSource name, the company said.

BevSource has experience in various segment of the beverage market, including beer, cider and spirits; energy and functional drinks; carbonated and non-carbonated beverages; and flavor shots and powder sachets.
Status: Closed

-CONSOL CLOSES SALE OF MILLER CREEK, FOLA MINE COMPLEXES TO SOUTHEASTERN LAND
US-based energy producer Consol Energy Inc. (NYSE: CNX) has closed the sale of the Miller Creek and Fola mine complexes in southern West Virginia to Kentucky-based Southeastern Land LLC, the company said.
In July, Consol announced a deal under which it would pay Southeastern Land USD 44m to take the assets off of its hands. This is part of a larger move by Consol to rid itself of its money-losing Central Appalachian coal assets.
Status: Closed

-RELIANCE STEEL AND ALUMINIUM CLOSES ACQUISITION OF METAL DISTRIBUTOR
US-based metals service centre company Reliance Steel and Aluminum Co. (NYSE: RS) has acquired all of the capital stock of US-based metal distributor Alaska Steel Co, the company said.
Founded in 1982, Alaska Steel boasts the largest on-hand inventory in Alaska and offers both same day and next day delivery from its three facilities in Anchorage, Fairbanks and Kenai.
Status: Closed

-DRUGMAKER MEDA WINS SHAREHOLDER NOD FOR USD 7.2BN MYLAN BUYOUT
Shareholders of Swedish drugmaker Meda Aktiebolag have approved the company's deal to be acquired by Mylan N.V. (NASDAQ: MYL) (TASE: MYL) for SEK 165 per share (USD 7.2bn), the company said.
The companies agreed the deal in February. The total value of the offer for all Meda shares, including Meda net debt, is approximately SEK 83.6bn or USD 9.9bn, which represents a multiple of approximately 8.9x 2015 adjusted EBITDA with synergies.
Status: Agreed

-ZENITH EPIGENETICS CHANGES NAME AMIDST INTERNAL REORGANISATION
Canadian biotechnology company Zenith Epigenetics Corp. has changed its name to Zenith Capital Corp. concurrent with the internal corporate reorganisation that was effective on 1 August, the company said.
The name change and reorganisation were approved by shareholders at the annual and special meeting of shareholders held on 7 January 2016. According to Zenith, the reorganisation results in the transfer of the company's principal operating assets to Zenith Epigenetics Ltd., a wholly-owned subsidiary of Zenith Capital Corp., in exchange for additional common shares of Zenith Epigenetics Ltd.
Status: Closed

-ENERGY FUELS RECEIVES 'SIGNIFICANT MAIDEN RESOURCE ESTIMATE' FOR RECENTLY-ACQUIRED ALTA MESA ISR PROJECT
US-based uranium producer Energy Fuels Inc. (NYSE MKT: UUUU) (TSX: EFR) has received an independent technical report containing a current mineral resource estimate for its 100%-owned Alta Mesa ISR Project located in Brooks and Jim Hogg Counties, Texas, the company said.
This includes the Alta Mesa and Mesteña Grande deposits and exploration targets, in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Status: Closed

-LIBERTY HALL CAPITAL PARTNERS ACQUIRES AEROSPACE PARTS SUPPLIER ZTM
New York-based aerospace and defense focused private equity firm Liberty Hall Capital Partners has acquired Wichita, Kansas-based aerospace metallic parts supplier ZTM, Inc., the company said.
ZTM will be integrated into Tulsa, Oklahoma-based engineered machined parts supplier Accurus Aerospace Corp, of which Liberty Hall is a lead investor. Founded in 1989, and owned by Brad Julius, ZTM supplies several of the highest value Boeing (NYSE: BA) commercial aerospace platforms, including the 737 and 787.
Status: Closed

-TRUNO SET TO ACQUIRE LABOUR MANAGEMENT SOFTWARE FIRM TIMEFORGE
US-based integrated technology solutions provider Truno, Retail Technology Solutions has reached an acquisition agreement with US-based labor management software provider TimeForge, the company aid.
The acquisition, expected to close 5 August, 2016, aligns resources and infrastructure between the two companies. Both companies are headquartered in Lubbock, Texas. TimeForge helps retail, grocery, and hospitality businesses manage labor costs and build employee schedules.
Status: Agreed

-SPIN MASTER ACQUIRES OUTDOOR SPORTS COMPANY SWIMWAYS FOR USD 85M
Canada-based children's entertainment company Spin Master Corp. (TSX: TOY) has acquired US-based water and outdoor sports company Swimways Corp, the company said. The purchase price for the transaction will be satisfied by USD 85m in cash on closing, less an escrow for possible adjustments, plus up to USD 8.5m payable over four years, based on Swimways' sales growth.
This transaction was financed through Spin Master's existing credit facility. Swimways will operate as a stand-alone subsidiary within the Spin Master group.
Status: Closed

-US REIT WELLTOWER TO ACQUIRE SENIORS HOUSING PORTFOLIO FOR USD 1.15BN
Ohio-based independent equity real estate investment trust Welltower Inc. (NYSE: HCN) has agreed to acquire a portfolio of properties operated by California-based retirement community operator Vintage Senior Living for a purchase price of USD 1.15bn, the company said.
Vintage Senior Living will continue to operate its communities until the purchase has been completed. The transaction is expected to close in tranches beginning in September 2016, subject to lenders' approvals.
Status: Agreed

-ZILLOW GROUP ACQUIRES BROKER SOFTWARE DEVELOPER BRIDGE INTERACTIVE
Washington-based online real estate and home-related information marketplace Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG) has acquired broker software creator Bridge Interactive Group, LLC, the company said.
Bridge Interactive helps brokers and multiple listing services (MLSs) address the complex world of listings management by implementing systems based on open standards from the Real Estate Standards Organization. Bridge Interactive provides brokers and MLSs with listing data management capabilities.
Status: Closed