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Deal Pipeline
Monday 05 June 2017
The following is a list of deals covered in detail by M and A Navigator this week:
-APPLE, AMAZON TO JOIN FOXCONN BID FOR TOSHIBA MEMORY CHIP UNIT, NIKKEI REPORTS
American technology giants Apple Inc (NASDAQ: AAPL) and Amazon.com (NASDAQ: AMZN) plan to join Taiwanese chipmaker Foxconn's (TPE: 2317) bid to acquire Japanese technology company Toshiba Corp's (TYO: 6502) semiconductor business, according to a report Monday in Nikkei business daily.
Nikkei quoted Foxconn chairman Terry Gou in the report, saying that the two US firms plan to "chip in funds," on the bid. Apple uses Toshiba NAND flash memory chips in its iPhone line. Nikkei said that Foxconn derives more than half of its revenue supplying components and providing assembly work to Apple. Foxconn also makes Kindle e-readers and Echo speakers for Amazon.
Status: Bidding
-BLACKSTONE TO OFFER EUR 1.8BN FOR FINNISH REAL ESTATE INVESTOR SPONDA
Polar Bidco S.à r.l., a firm owned by funds advised by US-based investment firm Blackstone (NYSE: BX) has entered into a combination agreement under which it will make a bid for Finnish real estate firm Sponda plc, the company said on Monday.
In a tender offer, Sponda shareholders will be offered a cash consideration of EUR 5.19 for each share in Sponda representing an aggregate equity purchase price of approximately EUR 1,763m (USD 2bn) for Sponda shares. Under the deal, Sponda has the right to distribute a dividend of a maximum of EUR 0.12 per share before the completion of the tender offer.
Status: Agreed
-LOGO BRANDS ACQUIRES GAMEMASTER TO EXPAND INTO BALL INDUSTRY
Tennessee, US-based outdoor lifestyle product manufacturer Logo Brands, Inc. has acquired Ohio, US-based inflatable ball company GameMaster to expand capabilities for existing Logo Brands product lines, the company said.
The company said this acquisition gives Logo Brands the rights to manufacture and distribute balls and sporting goods with officially licensed collegiate team logos and marks.
Status: Closed
-RADIANT LOGISTICS CLOSES ASSET ACQUISITION OF US FREIGHT TRANSPORTATION FIRM DEDICATED LOGISTICS TECHNOLOGIES
Washington, US-based transportation services company Radiant Logistics, Inc. (NYSE: RLGT) has finalised the acquisition of Minnesota, US-based freight transportation company Dedicated Logistics Technologies' assets to expand revenue to approximately USD 28m per year, the company said.
Dedicated Logistics Technologies, an operating partner of Radiant, has historically operated under the company's Service By Air brand in Newark, New Jersey and Los Angeles, California, US. The company structured the transaction with a portion of the expected purchase price payable in subsequent periods based on the future performance of the acquired operation.
Status: Closed
-KRG'S CONVERGINT TECHNOLOGIES ACQUIRES FLORIDA'S INTEGRATED SECURITY SYSTEMS
Illinois, US-based security systems integrator Convergint Technologies, a portfolio company of Colorado, US-based private equity firm a KRG Fund IV, has acquired Florida, US-based security solutions provider Integrated Security Systems (ISS), the company said.
KRG Capital reported in a press release that the acquisition of ISS is expected to strengthen Convergint's Southeast, US presence. Convergint said the acquisition will help it expand into the banking and utilities vertical markets. Convergint provides ISS with expanded resources to support clients as they grow into new territories and with access to a client-centric global service network.
Status: Closed
-VALASSIS ACQUIRES MICHIGAN, US LOCAL MARKETING PUB GREATDEAL$ MAGAZINE
Michigan, US-based media solutions provider Valassis Communications, Inc., a subsidiary of Harland Clarke Holdings, has acquired Michigan, US-based local marketing publication GreatDeal$ Magazine, to expand into Michigan cities Grand Rapids and Kalamazoo, the company said.
Valassis said the acquisition increases its presence in the hyper-local marketing industry. GreatDeal$ will join Clipper, the Valassis-owned magazine focused on local businesses. GreatDeal$ is distributed to approximately 340,000 households seven times a year.
Status: Closed
-US FOODS TO ACQUIRE LOUISIANA FOOD PRODUCTS DISTRIBUTOR F CHRISTIANA
Illinois, US-based foodservice distributor US Foods has agreed to acquire Louisiana, US-based food products distributor F. Christiana, to strengthen presence in Louisiana, the company said.
The transaction is expected to close by mid-June. The company said the acquisition of F. Christina would enhance its position with new and existing customers in Louisiana. F. Christiana will continue to operate under the F. Christiana name and will remain in the 70,000-square foot facility where it currently conducts business.
Status: Agreed
-CONCORD BICYCLE ACQUIRES DUTCH MUSIC PUBLISHING RIGHTS FIRM IMAGEM
US-based music and publishing firm Concord Bicycle Music acquired Netherlands-based music publishing rights company Imagem Music Group, bringing Concord's combined publishing catalogue to 380,000 copyrighted works, the company said.
Concord Bicycle Music said the agreement underscores the company's position as a fully integrated independent recorded music and publishing firm. Imagem Music Group's catalogue of music assets totals more than 250,000 copyrights. Imagem Music Group is comprised of three distinct business units: Rodgers and Hammerstein (theatrical), Imagem Music (pop), and Boosey and Hawkes (classical), with offices in London, Berlin and New York.
Status: Closed
-ACCENTURE ACQUIRES AGILE TRANSFORMATION SERVICES EXPERT SOLUTIONSIQ
New York, US-based professional services provider Accenture (NYSE: ACN) has acquired Washington, US-based Agile transformation services provider SolutionsIQ to expand digital transformation transition and services, the company said.
The company said the acquisition is expected to fuel its capabilities, which help organisations drive change, improve customer experience and create greater business value through Agile methods. SolutionsIQ helps organisations apply Agile principles and practices to improve performance, including enhanced digital delivery effectiveness, reduced cycle times for software development and greater responsiveness to business needs.
Status: Closed
-ENVIROSTAR TO ACQUIRE MARTIN-RAY LAUNDRY SYSTEMS IN USD 4M CASH AND SHARES DEAL
Florida, US-based laundry and dry cleaning company EnviroStar, Inc. (NYSE MKT: EVI) has agreed to purchase the assets of Colorado, US-based laundry products and services provider Martin-Ray Laundry Systems, Inc. in a stock and cash transaction, the company said.
The purchase price to be paid is USD 4m, of which USD 2m will be paid in cash and USD 2m will be paid in EVI common stock. Closing of the transaction is subject to customary closing conditions and the parties intend to close the transaction within the next thirty days. The transaction is expected to be accretive to EVI's earnings.
Status: Agreed
-PAPER DISTRIBUTOR LINDENMEYR MUNROE ACQUIRES INDEPENDENT PAPER GROUP
New York, US-based Lindenmeyr Monroe, the paper distribution division of pulp, paper and forest products sales/marketing organisation Central National Gottesman Inc., has agreed to acquire the business of Minnesota, US-based Independent Paper Group, LLC to expand its distribution presence in Minnesota, US, the company said.
Lindenmeyr Munroe said the IPG acquisition underscores the company's commitment to growth in Minnesota, home to a thriving commercial print community and a high concentration of wide-format printers. Central National Gottesman Inc. is a USD 5.5bn sales and marketing organisation in the global pulp, paper, tissue, packaging and plywood industry.
Status: Closed
-GTCR ACQUIRES SAGE PAYMENT SOLUTIONS FROM UK'S SAGE GROUP FOR USD 260M
Chicago, US-based private equity firm GTCR has agreed to acquire Virginia, US-based payment processing and merchant acquiring solutions provider Sage Payment Solutions, Inc. (SPS) from UK-based Sage Group plc, the company said.
GTCR will acquire SPS for USD 260m. To support this strategy, GTCR has committed up to USD 350m of equity capital to the platform. The transaction is expected to close in the third quarter following receipt of regulatory approvals and other consents. Sage will retain a financial interest in SPS in addition to the strategic alliance and other commercial agreements between the parties.
Status: Closed
-TERARECON ACQUIRES MACHINE LEARNING FIRM MCCOY MEDICAL TECHNOLOGIES TO FORM WIA CORP
California, US-based medical imaging viewing solutions provider TeraRecon has acquired Pennsylvania, US-based machine learning company McCoy Medical Technologies to form new independent company WIA Corp., a computer vision and AI applications provider to the healthcare industry, the company said.
WIA Corp. will provide simplified access to artificial intelligence algorithms with a focus on integrations that connect the work of individual end users, machine learning researchers, open source organisations and diagnostic imaging companies.
Status: Closed
-HEXCEL IN TALKS TO ACQUIRE STRUCTIL COMPOSITES JV
US-based composites company Hexcel Corp. (NYSE: HXL) is in exclusive negotiations to acquire all shares of France-based high-performance composite supplier Structil SA, a joint venture between Safran Ceramics, and Mitsubishi Chemical Corp., to expand composite solutions product offerings, the company said.
The proposed transaction, expected to close in 2017, is subject to review by relevant employee representative bodies and approval from the applicable French authorities. Hexcel said combining the product portfolios of the two companies would enhance product offerings to customers in aerospace and industrial, providing an expanded choice of advanced composite solutions.
Status: Talks
-APPLIED RESEARCH ACQUIRES SCIENTIFIC RESEARCH AND DEVELOPMENT SERVICES FIRM BERRIE HILL
New Mexico, US-based scientific research and engineering company Applied Research Associates, Inc. (ARA), has acquired Ohio, US-based scientific research and development services provider Berrie Hill Research Corp., to spur advancements in electromagnetic-based technologies, the company said.
ARA said the integration of BRC's complementary capabilities positions the company to offer critical advancements within the non-lethal market and offer new opportunities for the combined organisation. ARA's is an employee-owned company that delivers applied research and scientific solutions for national defense, homeland security, aerospace, healthcare, transportation, and manufacturing.
Status: Closed
-PULSE SECURE AFFILIATE ACQUIRES VADC BUSINESS FROM UK RESEARCH FIRM BROCADE COMMUNICATIONS
An affiliate of secure access solutions provider Pulse Secure, LLC has agreed to acquire virtual application delivery controller (vADC) assets from UK-based research firm Brocade Communications Systems, Inc. to expand portfolio capabilities supporting hybrid IT and cloud deployments, the company said.
The transaction includes a leased research and development facility in Cambridge, UK and associated customer support and maintenance contracts. Financial terms of the transaction were not disclosed. The transaction is expected to close in late June to mid-July 2017, subject to the satisfaction or waiver of customary closing conditions and prior to the closing of the previously announced acquisition of Brocade by Broadcom Ltd.
Status: Closed
-GRIEG SEAFOOD TEAM ACQUIRES NORWEGIAN POST-SMOLT PRODUCTION FACILITY TYTLANDSVIK AQUA
Norway based seafood farming company Grieg Seafood ASA (GSF) has partnered with farmed salmon supplier Bremnes Seashore AS and aqua-culture farming company Vest Havbruk AS acquire one-third ownership each in Rogaland, Norway based post-smolt production facility Tytlandsvik Aqua AS to expand larger-sized smolt production, the company said.
The construction of the facility, budgeted to NOK 300m (USD 35.6m), is planned for completion in 2019. Later It will be possible to expand the production facility's capacity with an additional 6000 tons, which would yield an annual production capacity of 9000 tons for the production facility.
Status: Closed
-GLADSTONE LAND ACQUIRES 3,253 GROSS ACRES OF ARIZONA, US FARMLAND FOR USD 27.5M
Virginia, US-based real estate investment trust Gladstone Land Corp. (NASDAQ: LAND) has acquired southwest Arizona, US-based farms totaling 3,253 gross acres and 3,032 irrigated acres for USD 27.5m, the company said.
A portion of the acquired acreage is organic. Approximately 1,221 of the irrigated acres are subject to leases with the State of Arizona. Upon acquisition, the company assumed lease agreements with the existing tenants, each leading growers, processors, and marketers of export-quality agricultural commodities. The leases contain annual escalations throughout their respective remaining terms, which range from two years to nine years.
Status: Closed
-CHARTER FINANCIAL TO ACQUIRE GEORGIA, US BANKING FIRM RESURGENS IN USD 26M DEAL
Georgia, US-based bank holding company Charter Financial Corp. (NASDAQ: CHFN) and Georgia, US-based Resurgens Bancorp, operator of Resurgens Bank, have agreed to a plan of merger with under which Resurgens will merge into Charter in a transaction valued at USD 26.3m, the company said.
Under the terms of the definitive agreement, Charter will acquire all outstanding shares of Resurgens common stock based upon a purchase price of USD 17.00 per share paid in cash. Boards of directors of both Charter and Resurgens have unanimously approved the transaction. The transaction is expected to close in the third quarter of 2017, and is subject to approval by Resurgens' shareholders, receipt of regulatory approvals and other customary closing conditions.
Status: Agreed
-DESCARTES ACQUIRES COMPUTER SERVICES FIRM PCSTRAC IN USD 11.25M DEAL
Canada-based S-a-a-S solutions provider Descartes Systems Group, Inc. (TSX: DSG) (NASDAQ: DSGX) has acquired the business assets of US-based Progressive Computer Services Inc. dba PCS Technologies, including all assets of Pennsylvania, US-based supply chain solution provider PCSTrac, Inc., the company said.
Descartes's acquisition was made for approximately USD 11.25m in a cash transaction. The company said its acquisition of PCSTrac extends its technology platform, providing customers with tools to manage an omni-channel environment. By combining the companies carton-level tracking and pool distribution with its Global Logistics Network, it can bring increased efficiencies to both retailers and their logistics service providers.
Status: Closed
-BALCHEM ACQUIRES POWDERS, ENCAPSULATES MAKER INNOVATIVE FOOD PROCESSORS
New York, US-based nutrition, specialty products and industrial products company Balchem Corp. (NASDAQ: BCPC) has acquired Minnesota, US-based manufacturer Innovative Food Processors, Inc. (IFP) to expand market reach, the company said.
IFP will be integrated within Balchem's human nutrition and health business segment, which includes the nutrition and pharma business unit and the SensoryEffects brand. Balchem said the synergistic acquisition allows it to expand its processing technology and market reach, creating a broader ingredient-systems platform that brings innovative and value-added systems to food, beverage and nutrition customers.
Status: Closed
-WORTHINGTON INDUSTRIES BUYS PRESSURE CYLINDER, WATER SYSTEM TANK MAKER AMTROL FOR USD 283M
Ohio, US-based metals manufacturing company Worthington Industries (NYSE: WOR) has acquired Rhode Island, US-based pressure cylinder and water system tank manufacturer Amtrol, to expand product portfolio, the company said.
The purchase price was approximately USD 283m. Worthington said the acquisition combines two companies in the US and European LP Gas business, and adds water and well tank product lines to Worthington's wholesale and retail consumer products portfolio.
Status: Closed
-UK MAIL AND DELIVERY GROUP DX AGREES REVISED TERMS FOR ACQUISITION OF JOHN MENZIES' DISTRIBUTION DIVISION
The boards of UK-based mail, courier and logistics company DX Group plc (LSE: DX) and John Menzies (LSE: MNZS) have agreed on revised terms for a deal under which DX would acquire John Menzies' distribution division in a reverse takeover, the companies said on Monday. Both companies announced in March that they were in talks regarding a deal.
Under the revised terms of the transaction, it is envisaged that DX would acquire Menzies Distribution for consideration, on a cash and debt free basis, comprising GBP 40m (USD 51.49m) in cash and the issue of new DX ordinary shares representing 65% of DX's issued share capital as enlarged by the transaction.
Status: Agreed
-US HOMEBUILDER DR HORTON AIMS TO ACQUIRE 75% OF FORESTAR FOR USD 520M
Texas, US-based homebuilder D.R. Horton, Inc. (NYSE: DHI) has submitted a proposal to the board of directors of US-based real estate development company Forestar Group Inc. (NYSE: FOR) to acquire 75% of the currently outstanding shares of Forestar for USD 16.25 per share in cash, the company said.
This deal would be worth USD 520m. In April, Forestar announced a definitive merger agreement with affiliates of US-based alternative investment firm Starwood Capital Group under which Starwood will acquire all of the outstanding shares of common stock of the company for USD 14.25 per share in cash.
Status: Agreed
-WEYERHAEUSER TO SELL URUGUAY TIMBERLANDS, MANUFACTURING BUSINESS TO BTG PACTUAL-LED CONSORTIUM FOR USD 402.5M
US-based timberland owner and paper manufacturer Weyerhaeuser Co (NYSE: WY) has inked an agreement to sell its timberlands and manufacturing business in Uruguay to a consortium led by Brazilian financial firm BTG Pactual's Timberland Investment Group, including other long-term institutional investors, for USD 402.5m in cash, the company said.
The company anticipates it will incur minimal taxes in conjunction with the transaction. This transaction includes over 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery.
Status: Agreed
-FRACTAL ANALYTICS CLOSES ACQUISITION OF 4I TO STRENGTHEN CONSULTING CAPABILITIES
India-based strategic analytics provider Fractal Analytics has completed the acquisition of US-based foresight analytics firm 4i Inc. to expand growth strategy consulting capabilities, the company said.
Fractional Analytics said combining the two companies help addresses the need for better and faster strategic and operational analytics and AI. The acquisition maximises value for clients and accelerates company growth. 4i will operate as a wholly owned subsidiary of Fractal Analytics and will continue delivering services to clients, while getting immediate access to Fractal Analytics' IP, capabilities, infrastructure and talent.
Status: Closed
-DEERE TO ACQUIRE GERMAN ROAD CONSTRUCTION EQUIPMENT MAKER WIRTGEN FOR EUR 4.357BN
Illinois, US-based heavy equipment manufacturer Deere and Company (NYSE: DE) has agreed to acquire Germany based road construction equipment manufacturer Wirtgen Group to advance position in road construction equipment market, the company said.
The purchase price for the equity is EUR 4.357bn (USD 4.9bn) in an all-cash transaction. The total transaction value is approximately EUR 4.6bn (USD 5.18bn) including the assumption of net debt and other consideration. Deere said the acquisition enhances its global distribution options in construction equipment and enhances our capabilities in emerging markets.
Status: Agreed
-DAVITA'S HEALTHCARE PARTNERS TO ACQUIRE CALIFORNIA'S MAGAN MEDICAL CLINIC
California, US-based HealthCare Partners, a division of California, US-based DaVita Inc. (NYSE: DVA), parent company of DaVita Medical Group, has agreed to acquire California, US-based multispecialty medical group Magan Medical Clinic, the company said.
HealthCare Partners said it has worked with Magan for 25 years, providing integrated care services. Through the acquisition it expect to grow membership and provide high-quality patient care. DaVita Medical Group operates and manages medical groups and affiliated physician networks in California, Colorado, Florida, Nevada, New Mexico, Pennsylvania and Washington.
Status: Agreed
-WINSIGHT ACQUIRES GROCERY HEADQUARTERS MAGAZINE TO EXPAND FOOD/BEVERAGE PORTFOLIO
Chicago, US-based information platform in the foodservice and retail industries Winsight, LLC has acquired media brand Grocery Headquarters, expanding its food and beverage portfolio, the company said.
The company said adding Grocery Headquarters to its portfolio gives it entry into the USD 669bn grocery market, adding a layer of clout to its B2B media portfolio, which includes publications, events, market research and information. The grocery platform will offer intelligence and touch points to customers through existing brands: CSP, Restaurant Business, Foodservice Director and Technomic.
Status: Closed
-HOMESMART ACQUIRES CHERRY CREEK PROPERTIES, EXPANDING TO 13,000 REAL ESTATE AGENTS
Arizona, US-based residential real estate company HomeSmart International has acquired Colorado, US-based real estate brokerage Cherry Creek Properties, expanding national coverage to 13,000 agents in 16 states, the company said.
HomeSmart said the acquisition of Cherry Creek Properties gives the combined network of agents more statewide locations to serve and meet with customers in its high-tech, consumer-focused meeting rooms. The company expects to continue its national expansion in 2017 with a goal to reach 16,000 agents before the end of 2017.
Status: Closed
-MERCURY PARTNERS ACQUIRES DIRECTMED PARTS/SERVICE TO ACCELERATE GROWTH
California, US-based investment company Mercury Partners has acquired California, US-based medical imaging solutions supplier DirectMed Parts and Service, LLC, the company said.
Managing partner at Mercury will assume the CEO role at DirectMed. Mercury said it plans to retain all employees and build on the foundation laid by Bill Erbes and his co-founders. Mercury said the investment allows DirectMed to take its customer service, inventory and engineering support to the next level. Direct Med said it is at a new phase of growth and Mercury Partners can provide the resources and management to drive expansion.
Status: Closed
-OMNITRACS TO EXPAND PRESENCE IN CANADA WITH ACQUISITION OF SHAW TRACKING ASSETS
US-based fleet management solutions provider Omnitracs LLC has agreed to acquire the assets of Canada-based fleet management solutions provider Shaw Tracking from Shaw Communications Inc. (TSX: SJR.B) (TSX: SJR.PR.A) (TSX: SJR.PR.B) (NYSE: SJR) (TSXV SJR.A )to expand presence in Canada, the company said.
Through the combination of Omnitracs and Shaw Tracking, Canadian fleet customers will have access to the Omnitracs product and service portfolio. Carriers will benefit from a more seamless user experience, with direct access to technology solutions and infrastructure that addresses current and future demands.
Status: Agreed
-APPLE, AMAZON TO JOIN FOXCONN BID FOR TOSHIBA MEMORY CHIP UNIT, NIKKEI REPORTS
American technology giants Apple Inc (NASDAQ: AAPL) and Amazon.com (NASDAQ: AMZN) plan to join Taiwanese chipmaker Foxconn's (TPE: 2317) bid to acquire Japanese technology company Toshiba Corp's (TYO: 6502) semiconductor business, according to a report Monday in Nikkei business daily.
Nikkei quoted Foxconn chairman Terry Gou in the report, saying that the two US firms plan to "chip in funds," on the bid. Apple uses Toshiba NAND flash memory chips in its iPhone line. Nikkei said that Foxconn derives more than half of its revenue supplying components and providing assembly work to Apple. Foxconn also makes Kindle e-readers and Echo speakers for Amazon.
Status: Bidding
-BLACKSTONE TO OFFER EUR 1.8BN FOR FINNISH REAL ESTATE INVESTOR SPONDA
Polar Bidco S.à r.l., a firm owned by funds advised by US-based investment firm Blackstone (NYSE: BX) has entered into a combination agreement under which it will make a bid for Finnish real estate firm Sponda plc, the company said on Monday.
In a tender offer, Sponda shareholders will be offered a cash consideration of EUR 5.19 for each share in Sponda representing an aggregate equity purchase price of approximately EUR 1,763m (USD 2bn) for Sponda shares. Under the deal, Sponda has the right to distribute a dividend of a maximum of EUR 0.12 per share before the completion of the tender offer.
Status: Agreed
-LOGO BRANDS ACQUIRES GAMEMASTER TO EXPAND INTO BALL INDUSTRY
Tennessee, US-based outdoor lifestyle product manufacturer Logo Brands, Inc. has acquired Ohio, US-based inflatable ball company GameMaster to expand capabilities for existing Logo Brands product lines, the company said.
The company said this acquisition gives Logo Brands the rights to manufacture and distribute balls and sporting goods with officially licensed collegiate team logos and marks.
Status: Closed
-RADIANT LOGISTICS CLOSES ASSET ACQUISITION OF US FREIGHT TRANSPORTATION FIRM DEDICATED LOGISTICS TECHNOLOGIES
Washington, US-based transportation services company Radiant Logistics, Inc. (NYSE: RLGT) has finalised the acquisition of Minnesota, US-based freight transportation company Dedicated Logistics Technologies' assets to expand revenue to approximately USD 28m per year, the company said.
Dedicated Logistics Technologies, an operating partner of Radiant, has historically operated under the company's Service By Air brand in Newark, New Jersey and Los Angeles, California, US. The company structured the transaction with a portion of the expected purchase price payable in subsequent periods based on the future performance of the acquired operation.
Status: Closed
-KRG'S CONVERGINT TECHNOLOGIES ACQUIRES FLORIDA'S INTEGRATED SECURITY SYSTEMS
Illinois, US-based security systems integrator Convergint Technologies, a portfolio company of Colorado, US-based private equity firm a KRG Fund IV, has acquired Florida, US-based security solutions provider Integrated Security Systems (ISS), the company said.
KRG Capital reported in a press release that the acquisition of ISS is expected to strengthen Convergint's Southeast, US presence. Convergint said the acquisition will help it expand into the banking and utilities vertical markets. Convergint provides ISS with expanded resources to support clients as they grow into new territories and with access to a client-centric global service network.
Status: Closed
-VALASSIS ACQUIRES MICHIGAN, US LOCAL MARKETING PUB GREATDEAL$ MAGAZINE
Michigan, US-based media solutions provider Valassis Communications, Inc., a subsidiary of Harland Clarke Holdings, has acquired Michigan, US-based local marketing publication GreatDeal$ Magazine, to expand into Michigan cities Grand Rapids and Kalamazoo, the company said.
Valassis said the acquisition increases its presence in the hyper-local marketing industry. GreatDeal$ will join Clipper, the Valassis-owned magazine focused on local businesses. GreatDeal$ is distributed to approximately 340,000 households seven times a year.
Status: Closed
-US FOODS TO ACQUIRE LOUISIANA FOOD PRODUCTS DISTRIBUTOR F CHRISTIANA
Illinois, US-based foodservice distributor US Foods has agreed to acquire Louisiana, US-based food products distributor F. Christiana, to strengthen presence in Louisiana, the company said.
The transaction is expected to close by mid-June. The company said the acquisition of F. Christina would enhance its position with new and existing customers in Louisiana. F. Christiana will continue to operate under the F. Christiana name and will remain in the 70,000-square foot facility where it currently conducts business.
Status: Agreed
-CONCORD BICYCLE ACQUIRES DUTCH MUSIC PUBLISHING RIGHTS FIRM IMAGEM
US-based music and publishing firm Concord Bicycle Music acquired Netherlands-based music publishing rights company Imagem Music Group, bringing Concord's combined publishing catalogue to 380,000 copyrighted works, the company said.
Concord Bicycle Music said the agreement underscores the company's position as a fully integrated independent recorded music and publishing firm. Imagem Music Group's catalogue of music assets totals more than 250,000 copyrights. Imagem Music Group is comprised of three distinct business units: Rodgers and Hammerstein (theatrical), Imagem Music (pop), and Boosey and Hawkes (classical), with offices in London, Berlin and New York.
Status: Closed
-ACCENTURE ACQUIRES AGILE TRANSFORMATION SERVICES EXPERT SOLUTIONSIQ
New York, US-based professional services provider Accenture (NYSE: ACN) has acquired Washington, US-based Agile transformation services provider SolutionsIQ to expand digital transformation transition and services, the company said.
The company said the acquisition is expected to fuel its capabilities, which help organisations drive change, improve customer experience and create greater business value through Agile methods. SolutionsIQ helps organisations apply Agile principles and practices to improve performance, including enhanced digital delivery effectiveness, reduced cycle times for software development and greater responsiveness to business needs.
Status: Closed
-ENVIROSTAR TO ACQUIRE MARTIN-RAY LAUNDRY SYSTEMS IN USD 4M CASH AND SHARES DEAL
Florida, US-based laundry and dry cleaning company EnviroStar, Inc. (NYSE MKT: EVI) has agreed to purchase the assets of Colorado, US-based laundry products and services provider Martin-Ray Laundry Systems, Inc. in a stock and cash transaction, the company said.
The purchase price to be paid is USD 4m, of which USD 2m will be paid in cash and USD 2m will be paid in EVI common stock. Closing of the transaction is subject to customary closing conditions and the parties intend to close the transaction within the next thirty days. The transaction is expected to be accretive to EVI's earnings.
Status: Agreed
-PAPER DISTRIBUTOR LINDENMEYR MUNROE ACQUIRES INDEPENDENT PAPER GROUP
New York, US-based Lindenmeyr Monroe, the paper distribution division of pulp, paper and forest products sales/marketing organisation Central National Gottesman Inc., has agreed to acquire the business of Minnesota, US-based Independent Paper Group, LLC to expand its distribution presence in Minnesota, US, the company said.
Lindenmeyr Munroe said the IPG acquisition underscores the company's commitment to growth in Minnesota, home to a thriving commercial print community and a high concentration of wide-format printers. Central National Gottesman Inc. is a USD 5.5bn sales and marketing organisation in the global pulp, paper, tissue, packaging and plywood industry.
Status: Closed
-GTCR ACQUIRES SAGE PAYMENT SOLUTIONS FROM UK'S SAGE GROUP FOR USD 260M
Chicago, US-based private equity firm GTCR has agreed to acquire Virginia, US-based payment processing and merchant acquiring solutions provider Sage Payment Solutions, Inc. (SPS) from UK-based Sage Group plc, the company said.
GTCR will acquire SPS for USD 260m. To support this strategy, GTCR has committed up to USD 350m of equity capital to the platform. The transaction is expected to close in the third quarter following receipt of regulatory approvals and other consents. Sage will retain a financial interest in SPS in addition to the strategic alliance and other commercial agreements between the parties.
Status: Closed
-TERARECON ACQUIRES MACHINE LEARNING FIRM MCCOY MEDICAL TECHNOLOGIES TO FORM WIA CORP
California, US-based medical imaging viewing solutions provider TeraRecon has acquired Pennsylvania, US-based machine learning company McCoy Medical Technologies to form new independent company WIA Corp., a computer vision and AI applications provider to the healthcare industry, the company said.
WIA Corp. will provide simplified access to artificial intelligence algorithms with a focus on integrations that connect the work of individual end users, machine learning researchers, open source organisations and diagnostic imaging companies.
Status: Closed
-HEXCEL IN TALKS TO ACQUIRE STRUCTIL COMPOSITES JV
US-based composites company Hexcel Corp. (NYSE: HXL) is in exclusive negotiations to acquire all shares of France-based high-performance composite supplier Structil SA, a joint venture between Safran Ceramics, and Mitsubishi Chemical Corp., to expand composite solutions product offerings, the company said.
The proposed transaction, expected to close in 2017, is subject to review by relevant employee representative bodies and approval from the applicable French authorities. Hexcel said combining the product portfolios of the two companies would enhance product offerings to customers in aerospace and industrial, providing an expanded choice of advanced composite solutions.
Status: Talks
-APPLIED RESEARCH ACQUIRES SCIENTIFIC RESEARCH AND DEVELOPMENT SERVICES FIRM BERRIE HILL
New Mexico, US-based scientific research and engineering company Applied Research Associates, Inc. (ARA), has acquired Ohio, US-based scientific research and development services provider Berrie Hill Research Corp., to spur advancements in electromagnetic-based technologies, the company said.
ARA said the integration of BRC's complementary capabilities positions the company to offer critical advancements within the non-lethal market and offer new opportunities for the combined organisation. ARA's is an employee-owned company that delivers applied research and scientific solutions for national defense, homeland security, aerospace, healthcare, transportation, and manufacturing.
Status: Closed
-PULSE SECURE AFFILIATE ACQUIRES VADC BUSINESS FROM UK RESEARCH FIRM BROCADE COMMUNICATIONS
An affiliate of secure access solutions provider Pulse Secure, LLC has agreed to acquire virtual application delivery controller (vADC) assets from UK-based research firm Brocade Communications Systems, Inc. to expand portfolio capabilities supporting hybrid IT and cloud deployments, the company said.
The transaction includes a leased research and development facility in Cambridge, UK and associated customer support and maintenance contracts. Financial terms of the transaction were not disclosed. The transaction is expected to close in late June to mid-July 2017, subject to the satisfaction or waiver of customary closing conditions and prior to the closing of the previously announced acquisition of Brocade by Broadcom Ltd.
Status: Closed
-GRIEG SEAFOOD TEAM ACQUIRES NORWEGIAN POST-SMOLT PRODUCTION FACILITY TYTLANDSVIK AQUA
Norway based seafood farming company Grieg Seafood ASA (GSF) has partnered with farmed salmon supplier Bremnes Seashore AS and aqua-culture farming company Vest Havbruk AS acquire one-third ownership each in Rogaland, Norway based post-smolt production facility Tytlandsvik Aqua AS to expand larger-sized smolt production, the company said.
The construction of the facility, budgeted to NOK 300m (USD 35.6m), is planned for completion in 2019. Later It will be possible to expand the production facility's capacity with an additional 6000 tons, which would yield an annual production capacity of 9000 tons for the production facility.
Status: Closed
-GLADSTONE LAND ACQUIRES 3,253 GROSS ACRES OF ARIZONA, US FARMLAND FOR USD 27.5M
Virginia, US-based real estate investment trust Gladstone Land Corp. (NASDAQ: LAND) has acquired southwest Arizona, US-based farms totaling 3,253 gross acres and 3,032 irrigated acres for USD 27.5m, the company said.
A portion of the acquired acreage is organic. Approximately 1,221 of the irrigated acres are subject to leases with the State of Arizona. Upon acquisition, the company assumed lease agreements with the existing tenants, each leading growers, processors, and marketers of export-quality agricultural commodities. The leases contain annual escalations throughout their respective remaining terms, which range from two years to nine years.
Status: Closed
-CHARTER FINANCIAL TO ACQUIRE GEORGIA, US BANKING FIRM RESURGENS IN USD 26M DEAL
Georgia, US-based bank holding company Charter Financial Corp. (NASDAQ: CHFN) and Georgia, US-based Resurgens Bancorp, operator of Resurgens Bank, have agreed to a plan of merger with under which Resurgens will merge into Charter in a transaction valued at USD 26.3m, the company said.
Under the terms of the definitive agreement, Charter will acquire all outstanding shares of Resurgens common stock based upon a purchase price of USD 17.00 per share paid in cash. Boards of directors of both Charter and Resurgens have unanimously approved the transaction. The transaction is expected to close in the third quarter of 2017, and is subject to approval by Resurgens' shareholders, receipt of regulatory approvals and other customary closing conditions.
Status: Agreed
-DESCARTES ACQUIRES COMPUTER SERVICES FIRM PCSTRAC IN USD 11.25M DEAL
Canada-based S-a-a-S solutions provider Descartes Systems Group, Inc. (TSX: DSG) (NASDAQ: DSGX) has acquired the business assets of US-based Progressive Computer Services Inc. dba PCS Technologies, including all assets of Pennsylvania, US-based supply chain solution provider PCSTrac, Inc., the company said.
Descartes's acquisition was made for approximately USD 11.25m in a cash transaction. The company said its acquisition of PCSTrac extends its technology platform, providing customers with tools to manage an omni-channel environment. By combining the companies carton-level tracking and pool distribution with its Global Logistics Network, it can bring increased efficiencies to both retailers and their logistics service providers.
Status: Closed
-BALCHEM ACQUIRES POWDERS, ENCAPSULATES MAKER INNOVATIVE FOOD PROCESSORS
New York, US-based nutrition, specialty products and industrial products company Balchem Corp. (NASDAQ: BCPC) has acquired Minnesota, US-based manufacturer Innovative Food Processors, Inc. (IFP) to expand market reach, the company said.
IFP will be integrated within Balchem's human nutrition and health business segment, which includes the nutrition and pharma business unit and the SensoryEffects brand. Balchem said the synergistic acquisition allows it to expand its processing technology and market reach, creating a broader ingredient-systems platform that brings innovative and value-added systems to food, beverage and nutrition customers.
Status: Closed
-WORTHINGTON INDUSTRIES BUYS PRESSURE CYLINDER, WATER SYSTEM TANK MAKER AMTROL FOR USD 283M
Ohio, US-based metals manufacturing company Worthington Industries (NYSE: WOR) has acquired Rhode Island, US-based pressure cylinder and water system tank manufacturer Amtrol, to expand product portfolio, the company said.
The purchase price was approximately USD 283m. Worthington said the acquisition combines two companies in the US and European LP Gas business, and adds water and well tank product lines to Worthington's wholesale and retail consumer products portfolio.
Status: Closed
-UK MAIL AND DELIVERY GROUP DX AGREES REVISED TERMS FOR ACQUISITION OF JOHN MENZIES' DISTRIBUTION DIVISION
The boards of UK-based mail, courier and logistics company DX Group plc (LSE: DX) and John Menzies (LSE: MNZS) have agreed on revised terms for a deal under which DX would acquire John Menzies' distribution division in a reverse takeover, the companies said on Monday. Both companies announced in March that they were in talks regarding a deal.
Under the revised terms of the transaction, it is envisaged that DX would acquire Menzies Distribution for consideration, on a cash and debt free basis, comprising GBP 40m (USD 51.49m) in cash and the issue of new DX ordinary shares representing 65% of DX's issued share capital as enlarged by the transaction.
Status: Agreed
-US HOMEBUILDER DR HORTON AIMS TO ACQUIRE 75% OF FORESTAR FOR USD 520M
Texas, US-based homebuilder D.R. Horton, Inc. (NYSE: DHI) has submitted a proposal to the board of directors of US-based real estate development company Forestar Group Inc. (NYSE: FOR) to acquire 75% of the currently outstanding shares of Forestar for USD 16.25 per share in cash, the company said.
This deal would be worth USD 520m. In April, Forestar announced a definitive merger agreement with affiliates of US-based alternative investment firm Starwood Capital Group under which Starwood will acquire all of the outstanding shares of common stock of the company for USD 14.25 per share in cash.
Status: Agreed
-WEYERHAEUSER TO SELL URUGUAY TIMBERLANDS, MANUFACTURING BUSINESS TO BTG PACTUAL-LED CONSORTIUM FOR USD 402.5M
US-based timberland owner and paper manufacturer Weyerhaeuser Co (NYSE: WY) has inked an agreement to sell its timberlands and manufacturing business in Uruguay to a consortium led by Brazilian financial firm BTG Pactual's Timberland Investment Group, including other long-term institutional investors, for USD 402.5m in cash, the company said.
The company anticipates it will incur minimal taxes in conjunction with the transaction. This transaction includes over 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery.
Status: Agreed
-FRACTAL ANALYTICS CLOSES ACQUISITION OF 4I TO STRENGTHEN CONSULTING CAPABILITIES
India-based strategic analytics provider Fractal Analytics has completed the acquisition of US-based foresight analytics firm 4i Inc. to expand growth strategy consulting capabilities, the company said.
Fractional Analytics said combining the two companies help addresses the need for better and faster strategic and operational analytics and AI. The acquisition maximises value for clients and accelerates company growth. 4i will operate as a wholly owned subsidiary of Fractal Analytics and will continue delivering services to clients, while getting immediate access to Fractal Analytics' IP, capabilities, infrastructure and talent.
Status: Closed
-DEERE TO ACQUIRE GERMAN ROAD CONSTRUCTION EQUIPMENT MAKER WIRTGEN FOR EUR 4.357BN
Illinois, US-based heavy equipment manufacturer Deere and Company (NYSE: DE) has agreed to acquire Germany based road construction equipment manufacturer Wirtgen Group to advance position in road construction equipment market, the company said.
The purchase price for the equity is EUR 4.357bn (USD 4.9bn) in an all-cash transaction. The total transaction value is approximately EUR 4.6bn (USD 5.18bn) including the assumption of net debt and other consideration. Deere said the acquisition enhances its global distribution options in construction equipment and enhances our capabilities in emerging markets.
Status: Agreed
-DAVITA'S HEALTHCARE PARTNERS TO ACQUIRE CALIFORNIA'S MAGAN MEDICAL CLINIC
California, US-based HealthCare Partners, a division of California, US-based DaVita Inc. (NYSE: DVA), parent company of DaVita Medical Group, has agreed to acquire California, US-based multispecialty medical group Magan Medical Clinic, the company said.
HealthCare Partners said it has worked with Magan for 25 years, providing integrated care services. Through the acquisition it expect to grow membership and provide high-quality patient care. DaVita Medical Group operates and manages medical groups and affiliated physician networks in California, Colorado, Florida, Nevada, New Mexico, Pennsylvania and Washington.
Status: Agreed
-WINSIGHT ACQUIRES GROCERY HEADQUARTERS MAGAZINE TO EXPAND FOOD/BEVERAGE PORTFOLIO
Chicago, US-based information platform in the foodservice and retail industries Winsight, LLC has acquired media brand Grocery Headquarters, expanding its food and beverage portfolio, the company said.
The company said adding Grocery Headquarters to its portfolio gives it entry into the USD 669bn grocery market, adding a layer of clout to its B2B media portfolio, which includes publications, events, market research and information. The grocery platform will offer intelligence and touch points to customers through existing brands: CSP, Restaurant Business, Foodservice Director and Technomic.
Status: Closed
-HOMESMART ACQUIRES CHERRY CREEK PROPERTIES, EXPANDING TO 13,000 REAL ESTATE AGENTS
Arizona, US-based residential real estate company HomeSmart International has acquired Colorado, US-based real estate brokerage Cherry Creek Properties, expanding national coverage to 13,000 agents in 16 states, the company said.
HomeSmart said the acquisition of Cherry Creek Properties gives the combined network of agents more statewide locations to serve and meet with customers in its high-tech, consumer-focused meeting rooms. The company expects to continue its national expansion in 2017 with a goal to reach 16,000 agents before the end of 2017.
Status: Closed
-MERCURY PARTNERS ACQUIRES DIRECTMED PARTS/SERVICE TO ACCELERATE GROWTH
California, US-based investment company Mercury Partners has acquired California, US-based medical imaging solutions supplier DirectMed Parts and Service, LLC, the company said.
Managing partner at Mercury will assume the CEO role at DirectMed. Mercury said it plans to retain all employees and build on the foundation laid by Bill Erbes and his co-founders. Mercury said the investment allows DirectMed to take its customer service, inventory and engineering support to the next level. Direct Med said it is at a new phase of growth and Mercury Partners can provide the resources and management to drive expansion.
Status: Closed
-OMNITRACS TO EXPAND PRESENCE IN CANADA WITH ACQUISITION OF SHAW TRACKING ASSETS
US-based fleet management solutions provider Omnitracs LLC has agreed to acquire the assets of Canada-based fleet management solutions provider Shaw Tracking from Shaw Communications Inc. (TSX: SJR.B) (TSX: SJR.PR.A) (TSX: SJR.PR.B) (NYSE: SJR) (TSXV SJR.A )to expand presence in Canada, the company said.
Through the combination of Omnitracs and Shaw Tracking, Canadian fleet customers will have access to the Omnitracs product and service portfolio. Carriers will benefit from a more seamless user experience, with direct access to technology solutions and infrastructure that addresses current and future demands.
Status: Agreed
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