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Deal Pipeline
Tuesday 07 June 2016
The following is a list of deals covered in detail by M and A Navigator this week:
-ARROW ELECTRONICS TO ACQUIRE MEDIA PORTFOLIO FROM UBM
US-based electronic products, services company Arrow Electronics, Inc. (NYSE: ARW) has signed a definitive agreement to acquire the global Internet media portfolio focused on technology and electronic design from UK-based B2B events organiser UBM, the company said.
UBM sold the portfolio for USD 23.5m. This portfolio includes EE Times, EDN, ESM, Embedded, EBN, TechONline, and Datasheets.com. Arrow is in technology design, manufacturing support, and supply-chain services. Last year, Arrow acquired the United Technical Publishing arm of Hearst Media.
Status: Agreed
-ALMONTY UPS STAKE IN SPANISH TUNGSTEN PROJECT TO 51%; PLANS TO BUY REMAINING STAKE
Canadian mining company Almonty Industries Inc. (TSX Venture: AII) has made a final installment payment of EUR 300,000 and now owns a 51% interest in the Valtreixal tin-tungsten project located in northwestern Spain, the company said.
Almonty has so far made installment payments to date of EUR 1.4m (USD 1.59m) for the 51% ownership interest). The company has an option to acquire the remaining 49% ownership interest through EUR 2.25m in additional installment payments over the next 30 months.
Status: Closed
-YUKON SUPPORTS NORTHERN PACIFIC INVESTMENT IN UNITED LANGUAGE
US-based mezzanine capital provider Yukon Partners has partnered with US-based private equity investment firm Northern Pacific Group in its investment in US-based language services provider United Language Group, Inc., the company said.
United Language Group, headquartered in Minneapolis, Minnesota, provides translation, localisation and other language-related business services to customers across a range of end markets, including life sciences, manufacturing, legal/financial, IT, and hospitality.
Status: Agreed
-INFORMATION, ANALYTICS FIRMS HIS, MARKIT NAME POST-MERGER EXECUTIVE LEADERSHIP TEAM
US-based defense and industry information and analysis company IHS (NYSE: IHS) and UK-based financial data specialist Markit (NASDAQ: MRKT) have named senior executive leadership appointments for IHS Markit following the consummation of the proposed merger of equals that was announced on 21 March, the companies said.
Based on the closing prices of IHS and Markit common stock on 18 March 2016, the implied equity value of the transaction is more than USD 13bn. Jerre Stead, IHS chairman and chief executive officer, will assume the role of chairman of the board of directors and CEO of IHS Markit. Lance Uggla, chairman and CEO of Markit, will be president and a member of the board of directors of IHS Markit. Uggla will assume the role of chairman of the board of directors and CEO of IHS Markit upon Stead's retirement on December 31, 2017.
Status: Agreed
-HOLLY ENERGY PARTNERS BUYS 50% STAKE IN CHEYENNE PIPELINE FOR USD 42.5M
US-based midstream energy company Holly Energy Partners, L.P. (NYSE: HEP) has acquired a 50% interest in Cheyenne Pipeline LLC, owner of the Cheyenne Pipeline, in exchange for a contribution of USD 42.5m in cash to Cheyenne Pipeline LLC, the company said.
Holly Energy said that the other 50% interest is owned by an affiliate of Plains All American Pipeline, L.P. (NYSE: PAA), who will continue to operate the Cheyenne Pipeline. The 87-mile crude oil pipeline, which runs from Fort Laramie, Wyoming to Cheyenne, Wyoming, has an 80,000 barrel per day capacity.
Status: Closed
-AMG TO ACQUIRE PETERSHILL FUND STAKES IN FIVE ALTERNATIVE INVESTMENT FIRMS FOR USD 800M
US-based asset management company Affiliated Managers Group, Inc. (NYSE: AMG) has reached a definitive agreement with Petershill Fund I, a group of investment vehicles managed by Goldman Sachs Asset Management, L.P., to acquire 100% of Petershill Fund I's minority equity interests in five alternative investment firms, the company said.
These firms include Winton Capital Group Ltd., Capula Investment Management LLP, Partner Fund Management, L.P., Mount Lucas Management LP, and CapeView Capital LLP. Under the terms of the agreement, AMG will acquire the interests in the firms from Petershill Fund I for approximately USD 800m in total consideration, which will be paid in cash at closing, funded up to 50% in equity.
Status: Agreed
-US REGIONAL TECH MEMBERSHIP ORGANISATIONS NY TECH MEETUP, NEW YORK TECHNOLOGY MERGE
Two non-profit membership organisations serving the New York technology community, NY Tech Meetup and the New York Technology Council (NYTECH), have merged to form the NY Tech Alliance, the organisations said.
The new organisation will be the region's largest group representing the technology community with over 60,000 members.
Status: Closed
-ACTIVE NETWORK ACQUIRES COLLEGIATE SPORTS PROGRAMME TECHNOLOGY PROVIDER JUMPFORWARD
US-based activities and events marketplace Active Network has acquired US-based collegiate sports programme technology specialist JumpForward, the company said.
JumpForward offers technology for NCAA recruiting, compliance, and business office management. Active said that the the integration of JumpForward into its product portfolio for collegiate sports provides campus managers a scalable product suite to handle the requirements needed for collegiate athletic departments.
Status: Closed
-PROFESSIONAL SERVICES FIRM BDO USA ACQUIRES NEW YORK'S CHARLES A BARRAGATO AND CO
UK-based professional service organization BDO International's US-based BDO USA, LLP member has entered into an agreement to expand its metro New York practice through the addition of 38 staff, including six partners, from Charles A. Barragato and Co, LLP, the company said.
Founded in 1998, CAB has offices in New York City and on Long Island. The firm has been a member of the BDO Alliance USA since 2009. It has a diversified client base with significant strength in high net-worth individuals, family offices, entertainers, healthcare providers and real estate investors and developers.
Status: Closed
-REHABILITATION, SPORTS MEDICINE PRODUCTS DISTRIBUTOR PATTERSON MEDICAL TO ACQUIRE PERFORMANCE HEALTH
US-based rehabilitation, sports medicine and assistive patient products distributor Patterson Medical has signed a definitive agreement to acquire consumer branded health, wellness and self-care products manufacturer Performance Health, the company said.
According to Patterson Medical, the combination is expected to create a highly competitive multi-channel branded supplier to global rehabilitation, recovery and sports medicine customers. Through a supply and distribution platform, enhanced capabilities and expanded offerings, over time the two companies expect to produce numerous benefits for customers, employees and suppliers.
Status: Agreed
-DENALI HOLDING LAUNCHES USD 3.25BN NOTES OFFERING; WILL FUND EMC ACQUISITION
US-based computer hardware and storage firm Dell's holding company, Denali Holding Inc., has launched a private offering of USD 3.25bn aggregate principal amount of senior notes to be issued by two of its wholly-owned subsidiaries as co-issuers, the company said.
The company said it plans to use the net proceeds from the offering of the notes as part of its financing for its previously-announced acquisition of EMC Corp.
Status: Agreed
-UNITED BANKSHARES CLOSES USD 269M ACQUISITION OF WASHINGTON, DC COMMUNITY BANK
US-based bank holding company United Bankshares, Inc. (NASDAQ: UBSI) has closed the acquisition of Washington, DC-based community bank Bank of Georgetown, the company said. With this transaction UBSI continues to strengthen its franchise and enhance its existing footprint in the DC Metro region.
Bank of Georgetown has USD 1.2bn in assets with 11 branches and 3 business development offices throughout Washington, DC, Montgomery County, Maryland and Northern Virginia. Bank of Georgetown will merge into UBSI's Virginia chartered bank, United Bank, the largest community bank headquartered in the DC Metro region.
Status: Closed
-RAMBUS TO ACQUIRE ASSETS OF SEMTECH'S SNOWBUSH IP FOR USD 32.5M
US-based semiconductor and IP products company Rambus Inc. (NASDAQ: RMBS) has entered into a definitive agreement to acquire the assets of Semtech's Snowbush IP for USD 32.5m, the company said. The deal includes additional payments based upon specific new product sales through the end of 2022.
Snowbush IP, formerly part of Semtech's Systems Innovation Group, is a provider of silicon-proven, high-performance serial link solutions. Rambus said the acquisition strengthens its position in high-growth spaces and meets customer needs in the server, networking and data center market.
Status: Agreed
-CRE8TEK ACQUIRES "CONVERSATIONAL COMMERCE" START UP FLAMINGO CUSTOMER EXPERIENCE
New York-based "conversational commerce" specialist, Flamingo Customer Experience Inc, has agreed to be 100% acquired by Australian technology and software development firm Cre8tek Ltd., the company said.
Flamingo provides cloud-based selling and guided customer on-boarding platforms designed to enable companies to increase online sales conversion and customer retention rates. It does this using patented software that learns how customers and employees interact and then automates this process.
Status: Closed
-THE LEGACY COMPANIES CLOSES ACQUISITION OF CHEF'S CHOICE KNIFE SHARPENER BRAND
US-based food service and consumer products company The Legacy Companies has completed the acquisition of US-based EdgeCraft Corp. and its Chef'sChoice knife sharpener brand, the company said.
Founded in 1984, EdgeCraft Corp. introduced the Chef'sChoice brand with the debut of its first electric knife sharpener in 1985.
Status: Closed
-TEXAS CHEMICAL ENGINEERING SPECIALIST KP ACQUIRES MCDANIEL PROCESS ENGINEERING
US-based engineering, procurement and construction solutions company KP Engineering has closed its acquisition of Texas-based chemical engineering consulting and design firm McDaniel Process Engineering Consultants, Inc., the company said.
KPE said the acquisition of MPEC will enhance its expertise in refining, midstream and petrochemical process engineering, particularly fractionation applications. The MPEC team will all be employed by KPE and will work from KPE's offices in Houston, Texas.
Status: Closed
-SIMPLY ESSENTIALS ACQUIRES IOWA POULTRY PLANT
US-based food company Simply Essentials, LLC has acquired the Cedar River Poultry chicken processing plant in Charles City, Iowa, the company said. The company said it will invest in excess of USD 30m with plans to reopen the plant in the fall of 2016.
Simply Essentials chicken is made from the company's proprietary flax seed diet. This A Process Verified flax seed diet naturally raises the level of Omega-3 fatty acids in the protein by up to 400% while also lowering the cholesterol by up to 40%.
Status: Closed
-STERLINGBACKCHECK ACQUIRES ASIA-PACIFIC EMPLOYMENT BACKGROUND SCREENING SPECIALIST RISQ GROUP
US-based background screening and HR solutions company SterlingBackcheck has acquired Australia-based, Asia-Pacific-focused employment background screening firm RISQ Group, the company said.
RISQ operates out of six offices in the Asia-Pacific region, including Singapore, Australia, Malaysia, Hong Kong and Mainland China. The firm joins SterlingBackcheck as it accelerates its multiyear strategy of domestic and global expansion.
Status: Closed
-FRONTAGE LABORATORIES ACQUIRES US FACILITIES, PHARMA PRODUCTS FROM SUN PHARMACEUTICALS
US-based contract research organisation Frontage Laboratories, Inc's Frontida BioPharm, Inc. affiliate has acquired certain assets from a wholly owned US subsidiary of Sun Pharma, the company said.
The acquisition includes Sun Pharma's oral solid dosage manufacturing facilities in Philadelphia, Pennsylvania, and Aurora, Illinois and 15 related pharmaceutical products.
Status: Closed
-US FOODSERVICE COMPANY MARMON ACQUIRES ITALY'S ANGELO PO
US-based beverage and water technologies company Marmon Food has agreed to acquire Italian professional catering equipment firm Angelo Po, the company said. Angelo Po is based in Carpi (Modena), Italy and is owned by Rossella Po, Alessandro Po, and Livio Gialdini.
Marmon is part of Berkshire Hathaway Inc. Terms of the deal were not disclosed. The operations of Angelo Po and Marmon are highly complementary, both geographically and in their product offerings. The acquisition creates major technological, production, and commercial synergies that will drive rapid and substantial expansion worldwide.
Status: Closed
-FRANKLIN STREET PROPERTIES ACQUIRES MINNEAPOLIS, US OFFICE TOWER FOR USD 82M
US-based real estate investment trust Franklin Street Properties Corp. (NYSE MKT: FSP) has acquired the Plaza Seven Office Tower located at 45 South Seventh Street in downtown Minneapolis, Minnesota, the REIT said.
Plaza Seven is a 36-story, Class "A" mixed-use tower that includes hotel, office and parking components and is strategically positioned within the core of the Minneapolis Central Business District. FSP acquired the office and underground parking components of Plaza Seven.
Status: Closed
-QATAR INVESTMENT AUTHORITY TO ACQUIRE SINGAPORE'S ASIA SQUARE TOWER FOR SGD 3.4BN
Qatari sovereign wealth fund the Qatar Investment Authority has reached an agreement with US-based investment firm BlackRock (NYSE: BLK) to acquire Asia Square Tower 1 in Singapore at approximately SGD 3.4bn (USD 2.45bn), the fund said.
This marks the largest single-tower real estate transaction in Asia Pacific to date, and the second largest single-tower real estate transaction globally. Asia Square Tower 1, an award-winning landmark office building, offers 43-stories of space totaling over 1.25 m square feet of net lettable area.
Status: Agreed
-ALLISON+PARTNERS ACQUIRES GERMAN COMMUNICATIONS, MARKETING FIRM HIGHER GROUND
US-based communications firm Allison+Partners has completed an asset purchase of German communications and marketing firm Higher Ground Communications, the company said.
Principles Martina Mϋller and Vivian Dadamio will join Allison+Partners as senior vice presidents to lead new Allison+Partners offices in Berlin and Munich respectively, and report to Matthew Della Croce, president of Europe and the global corporate practice.
Status: Closed
-MEDNAX ACQUIRES MINNESOTA, US ANESTHESIOLOGY PRACTICE
US-based physician services company Mednax, Inc. (NYSE: MD) has acquired Minnesota, US-based private physician group practice Northwest Anesthesia, PA, the company said.
Northwest Anesthesia, established in 1974, is the first Minnesota-based practice to join Mednax. The clinical care team consists of 128 full-time equivalent clinicians (37 full-time equivalent anesthesiologists and 91 full-time equivalent anesthetists) who provide services to seven Allina Health facilities, including Abbott Northwestern Hospital, the Minneapolis Heart Institute and The Mother Baby Center.
Status: Closed
-US PHYSICIAN SERVICES FIRM MEDNAX ACQUIRES CHILDREN'S EYE CARE OF NORTH TEXAS
US-based physician services company Mednax, Inc. (NYSE: MD) has acquired Children's Eye Care of North Texas, PA, (CECNT), the company said.
CECNT is a private pediatric ophthalmology practice of one physician and three full-time administrative personnel that provide services related to all aspects of visual care, including visual system development and diseases that disrupt visual development in children.
Status: Closed
-PLATINUM EQUITY TO BUY TEST EQUIPMENT, COMPUTER RENTAL FIRM ELECTRO RENT FOR USD 323.4M
US-based private equity firm Platinum Equity and US-based electronic test equipment, personal computers and server renting and leasing company Electro Rent Corp. (NASDAQ: ELRC) have entered into a definitive agreement under which Electro Rent would be acquired by Platinum Equity for approximately USD 323.4m, the companies said.
Under the agreement, Platinum Equity would acquire all of Electro Rent's common stock. Electro Rent stockholders will receive USD 13.12 per share, representing a premium of 24.4% over the closing price on 27 May 2016, and 34.8% over the average closing price of Electro Rent's common stock over the past three months.
Status: Agreed
-TRELLEBORG CLOSES SEK 10.9BN ACQUISITION OF CZECH TIRE SUPPLIER CGS HOLDING
Swedish polymers company Trelleborg has closed the acquisition of Czech agricultural, industrial and specialty tire supplier ČGS Holding a.s., Trelleborg said on Monday. The total cash consideration amounts to approximately SEK 10.9bn (USD 1.25bn) on a cash and debt-free basis.
ČGS is headquartered in the Czech Republic and generated sales of approximately SEK 5.6bn with an EBIT-margin of 16% in the rolling 12-months period ended 30 June 2015.
Status: Closed
-AXIS COMMUNICATIONS ACQUIRES CZECH INTERCOM FIRM 2N
Swedish network video specialist Axis Communications (STO: AXIS) has acquired Czech IP video intercom 2N, the company said. 2N is the number one player in the field of IP intercom, and also operates in other areas, for example IP audio and IP lift intercom.
The company has established sales channels through electricians and telecom installers as well as lift manufacturers, which can serve as a complement to Axis present global sales channels. At the same time 2N will benefit from Axis' strong market positon and R/D resources.
Status: Closed
-GERMANY'S MAGIX ACQUIRES MOST PRODUCTS OF SONY CREATIVE SOFTWARE
German software and app provider Magix Software GmbH is acquiring a majority of the Sony Creative Software products, the company said.
SCS will remain a part of Japan's Sony Electronics and d will continue to own and distribute its Catalyst Browse and Catalyst Production Suites. These products will continue to be developed by Sony for professional broadcast and production applications.
Status: Closed
-GREAT PLAINS ENERGY TO ACQUIRE WESTAR ENERGY IN USD 12.2BN DEAL
US-based utility operator Great Plains Energy Inc. (NYSE: GXP) has inked a definitive agreement to acquire Kansas, US utility operator Westar Energy, Inc. (NYSE: WR) in a combined cash and stock transaction with an enterprise value of approximately USD 12.2bn, including total equity value of approximately USD 8.6bn, the company said.
Upon closing, Westar will become a wholly owned subsidiary of Great Plains Energy.
Status: Agreed
-LONG BEARD BREWERIES ACQUIRES 5% OF "THE L.I. BREW BUS" BEER TOUR
New York-based beer producer Good Vibrations Shoes, Inc. (OTC: GVSI) subsidiary Long Beard Breweries, Inc. has acquired 5% of the Long Island beer tour known as "The L.I. Brew Bus," the company said.
This move comes shortly after the company received its federal license to operate as a brewery and as the company awaits approval for its official name and symbol change.
Status: Closed
-VWR BUYS DUTCH FLUID HANDLING PRODUCTS MAKER JM SEPARATIONS
US-based laboratory products provider VWR (NASDAQ: VWR) has acquired Tilburg, the Netherlands-based single-use fluid handling products supplier JM Separations, B.V., the company said.
JM Separations supplies single-use bag systems and custom solutions for media/buffer preparation, cell harvesting and for the clarification, concentration and chromatographic processes. Based in Tilburg, the Netherlands and founded in 1995, JM Separations mainly serves customers across Europe.
Status: Closed
-INTEGRATED ADVISORY GROUP SELLS US TRANSPORTATION FIRM RTW MANAGEMENT
Texas-based mergers and acquisitions advisory firm Integrated Advisory Group has sold Salt Lake City, Utah-based contractor RTW Management to Utah-based limited liability corporation Glide Transportation, the company said.
RTW Management is a national, GSA-certified transportation company specialising in fixed-route shuttle service, non-emergent and ambulatory transportation, para-transit, public busing for municipalities, state parks and national parks, and airport shuttle service.
Status: Closed
-ING CAPITAL SECURES USD 570M BRIDGE LOAN TO FINANCE SONY BUILDING ACQUISITION
US-based corporate finance advisory firm ING Capital LLC has originated a USD 570m senior secured bridge loan for Olayan America, the US investment arm of Saudi Arabia-based conglomerate The Olayan Group, to purchase 550 Madison Avenue in Manhattan, the company said.
The short-term loan is secured by a first mortgage on the property, an iconic skyscraper known most recently as the Sony Building. The 37-story building in the Plaza District of Manhattan has 852,830 square feet of rentable mixed-use space. The building features approximately 776,000 square feet of office space, prime retail frontage on Madison Avenue, and exhibition and museum space.
Status: Agreed
-FOCUSVISION ADDS CLOUD-BASED ASSET MANAGEMENT THROUGH 24TRU, QUALVU ACQUISITION
US- and Europe-based market research technology provider FocusVision has acquired US-based research intelligence platform 24Tru and its QualVu research arm, the company said. 24Tru enables the aggregation and organization of all research content for efficient access to insights, video clips, images and entire reports.
QualVu offers services for knowledge synthesis and integrated data delivery through the 24Tru platform. QualVu has led the online migration in qualitative research by leveraging video-based methodologies and data organization services.
Status: Closed
-AUGEO BUYS REWARDS PROGRAMME DEVELOPER INCENTIVE LOGIC
US-based loyalty platform provider Augeo has completed its second acquisition in 2016 and its eighth in company history with the asset purchase of Scottsdale, Arizona-based rewards programme developer Incentive Logic, Inc., the company said.
Augeo has been working in the loyalty space since its inception in 1998. Incentive Logic, also founded in 1998, developed one of the first customised online reward catalogs in the industry, and now runs comprehensive points based and quick rewards incentive programmes for a range of industries including airlines, healthcare, retail and technology, among many others.
Status: Closed
-PETROCHOICE ACQUIRES LUBRICANTS DISTRIBUTOR HAGAN KENNINGTON OIL
US-based lubrication products provider PetroChoice has acquired North Carolina-based lubricant distributor Hagan Kennington Oil Company, the company said. Located in Gastonia, Hagan Kennington Oil has been servicing western portions of North and South Carolina for over 50 years.
PetroChoice provides petroleum based lubrication products and services, providing its customers with lubrication solutions to meet their safety, savings, and sustainability goals.
Status: Closed
-VERICLAIM ACQUIRES PROPERTY RESTORATION CONTRACTOR DIAMOND PROPERTY LOSS SOLUTIONS
US-based risk and benefits solutions provider Sedgwick Claims Management Services, Inc.'s US-based Vericlaim loss adjusting and claims management services subsidiary has closed an agreement to purchase Elk Grove Village, Illinois-based national restoration and mitigation network Diamond Property Loss Solutions, the company said.
Vericlaim bought the company from US-based disaster restoration contracting organisation DKI Ventures LLC. The transaction includes ownership of the Insights conference, the property damage restoration industry's premier annual exposition and trade show.
Status: Closed
-INSTEM ACQUIRES UK REGULATORY MANAGEMENT SOLUTION PROVIDER SAMARIND
US-based early development healthcare IT solutions company Instem has acquired UK-based regulatory information management solutions provider Samarind, the company said.
Samarind provides solutions to the life sciences sector designed to improve the quality of regulatory information and help achieve and maintain compliance for pharmaceutical, biotech and medical device products.
Status: Closed
-EDCAST ACQUIRES SEATTLE SALES TRAINING APP DEVELOPER
US-based enterprise and personal learning services provider EdCast has agreed to acquire Seattle-based sales training app developer Sales University, the company said.
The acquisition agreement comes just a month after EdCast announced a USD 16m series B round of funding led by GE Asset Management and Softbank Capital, and demonstrates significant growth in EdCast knowledge network adoption at Fortune 500 companies.
Status: Closed
-ARROW ELECTRONICS TO ACQUIRE MEDIA PORTFOLIO FROM UBM
US-based electronic products, services company Arrow Electronics, Inc. (NYSE: ARW) has signed a definitive agreement to acquire the global Internet media portfolio focused on technology and electronic design from UK-based B2B events organiser UBM, the company said.
UBM sold the portfolio for USD 23.5m. This portfolio includes EE Times, EDN, ESM, Embedded, EBN, TechONline, and Datasheets.com. Arrow is in technology design, manufacturing support, and supply-chain services. Last year, Arrow acquired the United Technical Publishing arm of Hearst Media.
Status: Agreed
-ALMONTY UPS STAKE IN SPANISH TUNGSTEN PROJECT TO 51%; PLANS TO BUY REMAINING STAKE
Canadian mining company Almonty Industries Inc. (TSX Venture: AII) has made a final installment payment of EUR 300,000 and now owns a 51% interest in the Valtreixal tin-tungsten project located in northwestern Spain, the company said.
Almonty has so far made installment payments to date of EUR 1.4m (USD 1.59m) for the 51% ownership interest). The company has an option to acquire the remaining 49% ownership interest through EUR 2.25m in additional installment payments over the next 30 months.
Status: Closed
-YUKON SUPPORTS NORTHERN PACIFIC INVESTMENT IN UNITED LANGUAGE
US-based mezzanine capital provider Yukon Partners has partnered with US-based private equity investment firm Northern Pacific Group in its investment in US-based language services provider United Language Group, Inc., the company said.
United Language Group, headquartered in Minneapolis, Minnesota, provides translation, localisation and other language-related business services to customers across a range of end markets, including life sciences, manufacturing, legal/financial, IT, and hospitality.
Status: Agreed
-INFORMATION, ANALYTICS FIRMS HIS, MARKIT NAME POST-MERGER EXECUTIVE LEADERSHIP TEAM
US-based defense and industry information and analysis company IHS (NYSE: IHS) and UK-based financial data specialist Markit (NASDAQ: MRKT) have named senior executive leadership appointments for IHS Markit following the consummation of the proposed merger of equals that was announced on 21 March, the companies said.
Based on the closing prices of IHS and Markit common stock on 18 March 2016, the implied equity value of the transaction is more than USD 13bn. Jerre Stead, IHS chairman and chief executive officer, will assume the role of chairman of the board of directors and CEO of IHS Markit. Lance Uggla, chairman and CEO of Markit, will be president and a member of the board of directors of IHS Markit. Uggla will assume the role of chairman of the board of directors and CEO of IHS Markit upon Stead's retirement on December 31, 2017.
Status: Agreed
-HOLLY ENERGY PARTNERS BUYS 50% STAKE IN CHEYENNE PIPELINE FOR USD 42.5M
US-based midstream energy company Holly Energy Partners, L.P. (NYSE: HEP) has acquired a 50% interest in Cheyenne Pipeline LLC, owner of the Cheyenne Pipeline, in exchange for a contribution of USD 42.5m in cash to Cheyenne Pipeline LLC, the company said.
Holly Energy said that the other 50% interest is owned by an affiliate of Plains All American Pipeline, L.P. (NYSE: PAA), who will continue to operate the Cheyenne Pipeline. The 87-mile crude oil pipeline, which runs from Fort Laramie, Wyoming to Cheyenne, Wyoming, has an 80,000 barrel per day capacity.
Status: Closed
-AMG TO ACQUIRE PETERSHILL FUND STAKES IN FIVE ALTERNATIVE INVESTMENT FIRMS FOR USD 800M
US-based asset management company Affiliated Managers Group, Inc. (NYSE: AMG) has reached a definitive agreement with Petershill Fund I, a group of investment vehicles managed by Goldman Sachs Asset Management, L.P., to acquire 100% of Petershill Fund I's minority equity interests in five alternative investment firms, the company said.
These firms include Winton Capital Group Ltd., Capula Investment Management LLP, Partner Fund Management, L.P., Mount Lucas Management LP, and CapeView Capital LLP. Under the terms of the agreement, AMG will acquire the interests in the firms from Petershill Fund I for approximately USD 800m in total consideration, which will be paid in cash at closing, funded up to 50% in equity.
Status: Agreed
-US REGIONAL TECH MEMBERSHIP ORGANISATIONS NY TECH MEETUP, NEW YORK TECHNOLOGY MERGE
Two non-profit membership organisations serving the New York technology community, NY Tech Meetup and the New York Technology Council (NYTECH), have merged to form the NY Tech Alliance, the organisations said.
The new organisation will be the region's largest group representing the technology community with over 60,000 members.
Status: Closed
-ACTIVE NETWORK ACQUIRES COLLEGIATE SPORTS PROGRAMME TECHNOLOGY PROVIDER JUMPFORWARD
US-based activities and events marketplace Active Network has acquired US-based collegiate sports programme technology specialist JumpForward, the company said.
JumpForward offers technology for NCAA recruiting, compliance, and business office management. Active said that the the integration of JumpForward into its product portfolio for collegiate sports provides campus managers a scalable product suite to handle the requirements needed for collegiate athletic departments.
Status: Closed
-PROFESSIONAL SERVICES FIRM BDO USA ACQUIRES NEW YORK'S CHARLES A BARRAGATO AND CO
UK-based professional service organization BDO International's US-based BDO USA, LLP member has entered into an agreement to expand its metro New York practice through the addition of 38 staff, including six partners, from Charles A. Barragato and Co, LLP, the company said.
Founded in 1998, CAB has offices in New York City and on Long Island. The firm has been a member of the BDO Alliance USA since 2009. It has a diversified client base with significant strength in high net-worth individuals, family offices, entertainers, healthcare providers and real estate investors and developers.
Status: Closed
-REHABILITATION, SPORTS MEDICINE PRODUCTS DISTRIBUTOR PATTERSON MEDICAL TO ACQUIRE PERFORMANCE HEALTH
US-based rehabilitation, sports medicine and assistive patient products distributor Patterson Medical has signed a definitive agreement to acquire consumer branded health, wellness and self-care products manufacturer Performance Health, the company said.
According to Patterson Medical, the combination is expected to create a highly competitive multi-channel branded supplier to global rehabilitation, recovery and sports medicine customers. Through a supply and distribution platform, enhanced capabilities and expanded offerings, over time the two companies expect to produce numerous benefits for customers, employees and suppliers.
Status: Agreed
-DENALI HOLDING LAUNCHES USD 3.25BN NOTES OFFERING; WILL FUND EMC ACQUISITION
US-based computer hardware and storage firm Dell's holding company, Denali Holding Inc., has launched a private offering of USD 3.25bn aggregate principal amount of senior notes to be issued by two of its wholly-owned subsidiaries as co-issuers, the company said.
The company said it plans to use the net proceeds from the offering of the notes as part of its financing for its previously-announced acquisition of EMC Corp.
Status: Agreed
-UNITED BANKSHARES CLOSES USD 269M ACQUISITION OF WASHINGTON, DC COMMUNITY BANK
US-based bank holding company United Bankshares, Inc. (NASDAQ: UBSI) has closed the acquisition of Washington, DC-based community bank Bank of Georgetown, the company said. With this transaction UBSI continues to strengthen its franchise and enhance its existing footprint in the DC Metro region.
Bank of Georgetown has USD 1.2bn in assets with 11 branches and 3 business development offices throughout Washington, DC, Montgomery County, Maryland and Northern Virginia. Bank of Georgetown will merge into UBSI's Virginia chartered bank, United Bank, the largest community bank headquartered in the DC Metro region.
Status: Closed
-RAMBUS TO ACQUIRE ASSETS OF SEMTECH'S SNOWBUSH IP FOR USD 32.5M
US-based semiconductor and IP products company Rambus Inc. (NASDAQ: RMBS) has entered into a definitive agreement to acquire the assets of Semtech's Snowbush IP for USD 32.5m, the company said. The deal includes additional payments based upon specific new product sales through the end of 2022.
Snowbush IP, formerly part of Semtech's Systems Innovation Group, is a provider of silicon-proven, high-performance serial link solutions. Rambus said the acquisition strengthens its position in high-growth spaces and meets customer needs in the server, networking and data center market.
Status: Agreed
-CRE8TEK ACQUIRES "CONVERSATIONAL COMMERCE" START UP FLAMINGO CUSTOMER EXPERIENCE
New York-based "conversational commerce" specialist, Flamingo Customer Experience Inc, has agreed to be 100% acquired by Australian technology and software development firm Cre8tek Ltd., the company said.
Flamingo provides cloud-based selling and guided customer on-boarding platforms designed to enable companies to increase online sales conversion and customer retention rates. It does this using patented software that learns how customers and employees interact and then automates this process.
Status: Closed
-THE LEGACY COMPANIES CLOSES ACQUISITION OF CHEF'S CHOICE KNIFE SHARPENER BRAND
US-based food service and consumer products company The Legacy Companies has completed the acquisition of US-based EdgeCraft Corp. and its Chef'sChoice knife sharpener brand, the company said.
Founded in 1984, EdgeCraft Corp. introduced the Chef'sChoice brand with the debut of its first electric knife sharpener in 1985.
Status: Closed
-TEXAS CHEMICAL ENGINEERING SPECIALIST KP ACQUIRES MCDANIEL PROCESS ENGINEERING
US-based engineering, procurement and construction solutions company KP Engineering has closed its acquisition of Texas-based chemical engineering consulting and design firm McDaniel Process Engineering Consultants, Inc., the company said.
KPE said the acquisition of MPEC will enhance its expertise in refining, midstream and petrochemical process engineering, particularly fractionation applications. The MPEC team will all be employed by KPE and will work from KPE's offices in Houston, Texas.
Status: Closed
-SIMPLY ESSENTIALS ACQUIRES IOWA POULTRY PLANT
US-based food company Simply Essentials, LLC has acquired the Cedar River Poultry chicken processing plant in Charles City, Iowa, the company said. The company said it will invest in excess of USD 30m with plans to reopen the plant in the fall of 2016.
Simply Essentials chicken is made from the company's proprietary flax seed diet. This A Process Verified flax seed diet naturally raises the level of Omega-3 fatty acids in the protein by up to 400% while also lowering the cholesterol by up to 40%.
Status: Closed
-STERLINGBACKCHECK ACQUIRES ASIA-PACIFIC EMPLOYMENT BACKGROUND SCREENING SPECIALIST RISQ GROUP
US-based background screening and HR solutions company SterlingBackcheck has acquired Australia-based, Asia-Pacific-focused employment background screening firm RISQ Group, the company said.
RISQ operates out of six offices in the Asia-Pacific region, including Singapore, Australia, Malaysia, Hong Kong and Mainland China. The firm joins SterlingBackcheck as it accelerates its multiyear strategy of domestic and global expansion.
Status: Closed
-FRONTAGE LABORATORIES ACQUIRES US FACILITIES, PHARMA PRODUCTS FROM SUN PHARMACEUTICALS
US-based contract research organisation Frontage Laboratories, Inc's Frontida BioPharm, Inc. affiliate has acquired certain assets from a wholly owned US subsidiary of Sun Pharma, the company said.
The acquisition includes Sun Pharma's oral solid dosage manufacturing facilities in Philadelphia, Pennsylvania, and Aurora, Illinois and 15 related pharmaceutical products.
Status: Closed
-US FOODSERVICE COMPANY MARMON ACQUIRES ITALY'S ANGELO PO
US-based beverage and water technologies company Marmon Food has agreed to acquire Italian professional catering equipment firm Angelo Po, the company said. Angelo Po is based in Carpi (Modena), Italy and is owned by Rossella Po, Alessandro Po, and Livio Gialdini.
Marmon is part of Berkshire Hathaway Inc. Terms of the deal were not disclosed. The operations of Angelo Po and Marmon are highly complementary, both geographically and in their product offerings. The acquisition creates major technological, production, and commercial synergies that will drive rapid and substantial expansion worldwide.
Status: Closed
-FRANKLIN STREET PROPERTIES ACQUIRES MINNEAPOLIS, US OFFICE TOWER FOR USD 82M
US-based real estate investment trust Franklin Street Properties Corp. (NYSE MKT: FSP) has acquired the Plaza Seven Office Tower located at 45 South Seventh Street in downtown Minneapolis, Minnesota, the REIT said.
Plaza Seven is a 36-story, Class "A" mixed-use tower that includes hotel, office and parking components and is strategically positioned within the core of the Minneapolis Central Business District. FSP acquired the office and underground parking components of Plaza Seven.
Status: Closed
-QATAR INVESTMENT AUTHORITY TO ACQUIRE SINGAPORE'S ASIA SQUARE TOWER FOR SGD 3.4BN
Qatari sovereign wealth fund the Qatar Investment Authority has reached an agreement with US-based investment firm BlackRock (NYSE: BLK) to acquire Asia Square Tower 1 in Singapore at approximately SGD 3.4bn (USD 2.45bn), the fund said.
This marks the largest single-tower real estate transaction in Asia Pacific to date, and the second largest single-tower real estate transaction globally. Asia Square Tower 1, an award-winning landmark office building, offers 43-stories of space totaling over 1.25 m square feet of net lettable area.
Status: Agreed
-ALLISON+PARTNERS ACQUIRES GERMAN COMMUNICATIONS, MARKETING FIRM HIGHER GROUND
US-based communications firm Allison+Partners has completed an asset purchase of German communications and marketing firm Higher Ground Communications, the company said.
Principles Martina Mϋller and Vivian Dadamio will join Allison+Partners as senior vice presidents to lead new Allison+Partners offices in Berlin and Munich respectively, and report to Matthew Della Croce, president of Europe and the global corporate practice.
Status: Closed
-MEDNAX ACQUIRES MINNESOTA, US ANESTHESIOLOGY PRACTICE
US-based physician services company Mednax, Inc. (NYSE: MD) has acquired Minnesota, US-based private physician group practice Northwest Anesthesia, PA, the company said.
Northwest Anesthesia, established in 1974, is the first Minnesota-based practice to join Mednax. The clinical care team consists of 128 full-time equivalent clinicians (37 full-time equivalent anesthesiologists and 91 full-time equivalent anesthetists) who provide services to seven Allina Health facilities, including Abbott Northwestern Hospital, the Minneapolis Heart Institute and The Mother Baby Center.
Status: Closed
-US PHYSICIAN SERVICES FIRM MEDNAX ACQUIRES CHILDREN'S EYE CARE OF NORTH TEXAS
US-based physician services company Mednax, Inc. (NYSE: MD) has acquired Children's Eye Care of North Texas, PA, (CECNT), the company said.
CECNT is a private pediatric ophthalmology practice of one physician and three full-time administrative personnel that provide services related to all aspects of visual care, including visual system development and diseases that disrupt visual development in children.
Status: Closed
-PLATINUM EQUITY TO BUY TEST EQUIPMENT, COMPUTER RENTAL FIRM ELECTRO RENT FOR USD 323.4M
US-based private equity firm Platinum Equity and US-based electronic test equipment, personal computers and server renting and leasing company Electro Rent Corp. (NASDAQ: ELRC) have entered into a definitive agreement under which Electro Rent would be acquired by Platinum Equity for approximately USD 323.4m, the companies said.
Under the agreement, Platinum Equity would acquire all of Electro Rent's common stock. Electro Rent stockholders will receive USD 13.12 per share, representing a premium of 24.4% over the closing price on 27 May 2016, and 34.8% over the average closing price of Electro Rent's common stock over the past three months.
Status: Agreed
-TRELLEBORG CLOSES SEK 10.9BN ACQUISITION OF CZECH TIRE SUPPLIER CGS HOLDING
Swedish polymers company Trelleborg has closed the acquisition of Czech agricultural, industrial and specialty tire supplier ČGS Holding a.s., Trelleborg said on Monday. The total cash consideration amounts to approximately SEK 10.9bn (USD 1.25bn) on a cash and debt-free basis.
ČGS is headquartered in the Czech Republic and generated sales of approximately SEK 5.6bn with an EBIT-margin of 16% in the rolling 12-months period ended 30 June 2015.
Status: Closed
-AXIS COMMUNICATIONS ACQUIRES CZECH INTERCOM FIRM 2N
Swedish network video specialist Axis Communications (STO: AXIS) has acquired Czech IP video intercom 2N, the company said. 2N is the number one player in the field of IP intercom, and also operates in other areas, for example IP audio and IP lift intercom.
The company has established sales channels through electricians and telecom installers as well as lift manufacturers, which can serve as a complement to Axis present global sales channels. At the same time 2N will benefit from Axis' strong market positon and R/D resources.
Status: Closed
-GERMANY'S MAGIX ACQUIRES MOST PRODUCTS OF SONY CREATIVE SOFTWARE
German software and app provider Magix Software GmbH is acquiring a majority of the Sony Creative Software products, the company said.
SCS will remain a part of Japan's Sony Electronics and d will continue to own and distribute its Catalyst Browse and Catalyst Production Suites. These products will continue to be developed by Sony for professional broadcast and production applications.
Status: Closed
-GREAT PLAINS ENERGY TO ACQUIRE WESTAR ENERGY IN USD 12.2BN DEAL
US-based utility operator Great Plains Energy Inc. (NYSE: GXP) has inked a definitive agreement to acquire Kansas, US utility operator Westar Energy, Inc. (NYSE: WR) in a combined cash and stock transaction with an enterprise value of approximately USD 12.2bn, including total equity value of approximately USD 8.6bn, the company said.
Upon closing, Westar will become a wholly owned subsidiary of Great Plains Energy.
Status: Agreed
-LONG BEARD BREWERIES ACQUIRES 5% OF "THE L.I. BREW BUS" BEER TOUR
New York-based beer producer Good Vibrations Shoes, Inc. (OTC: GVSI) subsidiary Long Beard Breweries, Inc. has acquired 5% of the Long Island beer tour known as "The L.I. Brew Bus," the company said.
This move comes shortly after the company received its federal license to operate as a brewery and as the company awaits approval for its official name and symbol change.
Status: Closed
-VWR BUYS DUTCH FLUID HANDLING PRODUCTS MAKER JM SEPARATIONS
US-based laboratory products provider VWR (NASDAQ: VWR) has acquired Tilburg, the Netherlands-based single-use fluid handling products supplier JM Separations, B.V., the company said.
JM Separations supplies single-use bag systems and custom solutions for media/buffer preparation, cell harvesting and for the clarification, concentration and chromatographic processes. Based in Tilburg, the Netherlands and founded in 1995, JM Separations mainly serves customers across Europe.
Status: Closed
-INTEGRATED ADVISORY GROUP SELLS US TRANSPORTATION FIRM RTW MANAGEMENT
Texas-based mergers and acquisitions advisory firm Integrated Advisory Group has sold Salt Lake City, Utah-based contractor RTW Management to Utah-based limited liability corporation Glide Transportation, the company said.
RTW Management is a national, GSA-certified transportation company specialising in fixed-route shuttle service, non-emergent and ambulatory transportation, para-transit, public busing for municipalities, state parks and national parks, and airport shuttle service.
Status: Closed
-ING CAPITAL SECURES USD 570M BRIDGE LOAN TO FINANCE SONY BUILDING ACQUISITION
US-based corporate finance advisory firm ING Capital LLC has originated a USD 570m senior secured bridge loan for Olayan America, the US investment arm of Saudi Arabia-based conglomerate The Olayan Group, to purchase 550 Madison Avenue in Manhattan, the company said.
The short-term loan is secured by a first mortgage on the property, an iconic skyscraper known most recently as the Sony Building. The 37-story building in the Plaza District of Manhattan has 852,830 square feet of rentable mixed-use space. The building features approximately 776,000 square feet of office space, prime retail frontage on Madison Avenue, and exhibition and museum space.
Status: Agreed
-FOCUSVISION ADDS CLOUD-BASED ASSET MANAGEMENT THROUGH 24TRU, QUALVU ACQUISITION
US- and Europe-based market research technology provider FocusVision has acquired US-based research intelligence platform 24Tru and its QualVu research arm, the company said. 24Tru enables the aggregation and organization of all research content for efficient access to insights, video clips, images and entire reports.
QualVu offers services for knowledge synthesis and integrated data delivery through the 24Tru platform. QualVu has led the online migration in qualitative research by leveraging video-based methodologies and data organization services.
Status: Closed
-AUGEO BUYS REWARDS PROGRAMME DEVELOPER INCENTIVE LOGIC
US-based loyalty platform provider Augeo has completed its second acquisition in 2016 and its eighth in company history with the asset purchase of Scottsdale, Arizona-based rewards programme developer Incentive Logic, Inc., the company said.
Augeo has been working in the loyalty space since its inception in 1998. Incentive Logic, also founded in 1998, developed one of the first customised online reward catalogs in the industry, and now runs comprehensive points based and quick rewards incentive programmes for a range of industries including airlines, healthcare, retail and technology, among many others.
Status: Closed
-PETROCHOICE ACQUIRES LUBRICANTS DISTRIBUTOR HAGAN KENNINGTON OIL
US-based lubrication products provider PetroChoice has acquired North Carolina-based lubricant distributor Hagan Kennington Oil Company, the company said. Located in Gastonia, Hagan Kennington Oil has been servicing western portions of North and South Carolina for over 50 years.
PetroChoice provides petroleum based lubrication products and services, providing its customers with lubrication solutions to meet their safety, savings, and sustainability goals.
Status: Closed
-VERICLAIM ACQUIRES PROPERTY RESTORATION CONTRACTOR DIAMOND PROPERTY LOSS SOLUTIONS
US-based risk and benefits solutions provider Sedgwick Claims Management Services, Inc.'s US-based Vericlaim loss adjusting and claims management services subsidiary has closed an agreement to purchase Elk Grove Village, Illinois-based national restoration and mitigation network Diamond Property Loss Solutions, the company said.
Vericlaim bought the company from US-based disaster restoration contracting organisation DKI Ventures LLC. The transaction includes ownership of the Insights conference, the property damage restoration industry's premier annual exposition and trade show.
Status: Closed
-INSTEM ACQUIRES UK REGULATORY MANAGEMENT SOLUTION PROVIDER SAMARIND
US-based early development healthcare IT solutions company Instem has acquired UK-based regulatory information management solutions provider Samarind, the company said.
Samarind provides solutions to the life sciences sector designed to improve the quality of regulatory information and help achieve and maintain compliance for pharmaceutical, biotech and medical device products.
Status: Closed
-EDCAST ACQUIRES SEATTLE SALES TRAINING APP DEVELOPER
US-based enterprise and personal learning services provider EdCast has agreed to acquire Seattle-based sales training app developer Sales University, the company said.
The acquisition agreement comes just a month after EdCast announced a USD 16m series B round of funding led by GE Asset Management and Softbank Capital, and demonstrates significant growth in EdCast knowledge network adoption at Fortune 500 companies.
Status: Closed
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