M and A Navigator: Deal pipeline -6 August.
The following is a list of deals covered in detail by M and A Navigator this week:
-CC INDUSTRIES BUYS PACKAGING MAKER SELIG SEALING
US-based holding company CC Industries, Inc. has acquired US-based packaging products manufacturer Selig Sealing Products, Inc. from Behrman Capital, the company said. Founded in 1889, Selig is engaged in the design and manufacture of highly engineered closure liner solutions for food, beverage, pharmaceutical, healthcare, personal care and industrial applications. Selig is engaged in the manufacture of specialised laminated films for use in a variety of food, consumer and military applications.
-QUEST DIAGNOSTICS CLOSES ACQUISITION OF MEMORIALCARE HEALTH SYSTEM'S SOUTHERN CALIFORNIA LAB OUTREACH UNIT
US-based diagnostic information services company Quest Diagnostics (NYSE: DGX) has completed the acquisition of MemorialCare Health System's laboratory outreach service business, the company said. Under the agreement, MemorialCare Health System will transition its outreach laboratory testing to Quest's accredited full-service clinical laboratory in West Hills, California. MemorialCare Health System's hospital-based laboratories are not a part of the transaction.
-HIMINATSINGKA MERGES DWI HOLDINGS, DIVATEX HOME FASHIONS SUBSIDIARIES
Indian textiles manufacturer Himatsingka Group has merged its US-based Divatex Home Fashions Inc and DWI Inc subsidiaries with effect from 1 August 2015, the company said. The merged entity will be called Himatsingka America Inc. Himatsingka America Inc will continue to have its corporate headquarters in New York and its warehousing and distribution centre in Spartanburg, South Carolina.
-ABERDEEN TO ACQUIRE HEDGE FUND ADVISER ARDEN
UK-based investment management group Aberdeen Asset Management Inc has entered into an agreement to acquire Arden Asset Management LLC a provider of hedge fund solutions with offices in New York and London, the company said. Aberdeen said that the acquisition is in line with its strategy to strengthen and grow its global alternatives platform encompassing multi-manager research and selection across hedge funds, private equity, and property along with direct investments in infrastructure projects.
-SPECIALTY CHEMICAL DISTRIBUTOR MAROON GROUP ACQUIRES D.B. BACKER
US-based specialty chemicals distributor Maroon Group has acquired D.B. Becker Co., Inc., an East Coast distributor of specialty chemicals based in Clinton, New Jersey, the company said. D.B. Becker's management team will continue to actively manage the business. Terms of the transaction were not disclosed. Founded in 1954, D.B. Becker supplies nearly 1000 customers with raw materials for the paint, ink, coating, adhesive, polyurethane, construction, plastics and allied markets.
-SOUTHFIELD CAPITAL SELLS CANADIAN OUTSOURCED SERVICES PROVIDER HALLCON
US-based private equity firm Southfield Capital has completed the sale of Canadian outsourced services provider Hallcon Corp. to Novacap, the company said. Hallcon is a provider of specialty outsourced services primarily to the railway, transit and oil and gas sectors in North America, based in Toronto. Southfield Capital acquired Hallcon in 2011 in partnership with the senior management team. During Southfield Capital's investment, Hallcon's EBITDA increased by four times.
-HIG CAPITAL ACQUIRES ITALIAN RETAIL PORTFOLIO
An affiliate of US-based investment firm H.I.G. Capital has completed the acquisition of a portfolio of eight retail assets in Italy, the firm said. The portfolio comprises over 11,500 square meters and tenants include leading retailers such as OVS, Euronics and Cisalfa. This transaction represents H.I.G. Capital's 20th real estate investment in Europe since the start of 2013.
-HUB INTERNATIONAL ACQUIRES INSURANCE AGENCY IN ALASKA
US-based insurance brokerage Hub International Ltd. has acquired Alaska, US-based multi-line insurance brokerage Pippel Insurance Agency, Inc., the company said. Pippel will become part of the Hub International Northwest operations (Hub Northwest). Pippel is a second generation agency and one of Alaska's full-service insurance brokerages servicing the greater Anchorage and Matanuska-Susitna Valley market.
-ALPHA MEDIA TO BUY RADIO STATION PORTFOLIO FROM DIGNITY
US-based media company Digity, LLC has entered into a definitive agreement to sell its radio station portfolio to US-based broadcasting company Alpha Media, Oregon, Dignity said. Digity owns or operates 116 stations in 26 markets. It is majority owned by Garrison Investment Group LP in New York and Dean Goodman. When all pending deals are completed, it will bring the total number of stations owned by Alpha Media to 251.
-REVOLUTION LIGHTING TECHNOLOGIES ACQUIRES LED PROJECT SPECIALIST ENERGY SOURCE IN USD 30M DEAL
US-based LED lighting solutions company Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) has acquired Energy Source, LLC, a provider of LED lighting based energy savings projects within the commercial, industrial, hospitality, retail, education and municipal sectors, the company said. The acquisition brings together RVLT's portfolio of LED products and control systems with Energy Source's expertise in providing LED focused energy savings projects, its customer base and preferred partnership status with utility companies across the Northeast, including National Grid and Eversource (formerly NStar).
-URSTADT BIDDLE BUYS WESTCHESTER, NEW YORK SHOPPING CENTRE
US-based REIT Urstadt Biddle Properties Inc. (NYSE: UBA) has purchased The Harrison Shopping Center in Harrison, New York, the company said. The Harrison Shopping Center is located on Halstead Avenue in the affluent community of Harrison, New York (Westchester County). It is anchored by an A/P Fresh Supermarket which will most likely be replaced by a prominent grocer, subject to bankruptcy court approval. Other long-term tenants in the shopping center include a bakery, a hair salon, a florist, restaurants and AT/T.
-CASTLE ROCK EQUITY CLOSES USD 112M PURCHASE OF PHILADELPHIA RESIDENTIAL TOWER
US-based real estate company Castle Rock Equity has closed its purchased the Icon building at 1616 Walnut Street in Philadelphia's City Center neighborhood for USD 112m, the company said. The 25-story art deco tower, part of the National Register of Historic Places, was constructed in 1929 as an office building and is characterised by aluminum details, intricate woodwork, an ornate lobby and magnificent entry. Its previous owner completed a more than USD 60m transformation in 2014, converting the building to residential use.
-BANK OF THE OZARKS CLOSES USD 56M BANK OF THE CAROLINAS ACQUISITION
US-based financial services company Bank of the Ozarks, Inc. (NASDAQ: OZRK) has closed its acquisition of US-based Bank of the Carolinas Corp. in an all-stock deal worth USD 56m, the company said. This is the company's thirteenth acquisition since March 2010.
-ROYAL GOLD TO ACQUIRE GOLD AND SILVER STREAM IN DOMINICAN MINE
US-based precious metals royalty and stream company Royal Gold, Inc.'s (NASDAQ: RGLD) (TSX: RGL) RGLD Gold AG subsidiary has entered into a USD 610m precious metals purchase and sale agreement with a wholly owned subsidiary of Barrick Gold Corp., BGC Holdings Ltd. to purchase a percentage of the gold and silver production attributable to Barrick's 60% interest in the Pueblo Viejo mine located in the Dominican Republic, the company said.
-PERSHING SQUARE TAKES 7.5% STAKE IN SNACK FOOD MAKER MONDELEZ
US-based investment holding company Pershing Square Holdings, Ltd. has acquired a 7.5% stake in US-based snack food maker Mondelez International, Inc. (NASDAQ: MDLZ), the company said. The stake is worth USD 5.5bn. Pershing Square is run by activist investor William Ackman.
-AFH ACQUIRES DAVISONS FINANCIAL MANAGEMENT
UK-based financial planning led investment management firm AFH Financial Group Plc has acquired UK-based financial planner Davisons Financial Management Ltd., the firm said on Thursday. DFM is the financial planning division of Davisons Chartered Accountants, a practice in Devon, and will continue as a trading style of AFH. The DCA accountancy practice will continue to act as an introducer. Under the terms of the acquisition, the maximum consideration payable by AFH is GBP 2.856m (USD 4.46m) based on the profitability of DFM over the next 24 months.
-AVON RUBBER BUYS ITALIAN MILKING MACHINE COMPANY
UK-based protection and dairy production equipment maker Avon Rubber Plc's Avon Rubber Italia S.r.l. Italian subsidiary has acquired 100% of the share capital and shareholder loan notes of InterPuls S.p.A. for an enterprise value of EUR 29.75m (USD 32.42m), the company said. InterPuls has developed a range of specialist milking components, including pulsators, milk meters, automatic cluster removers and vacuum pumps, enabling customers throughout the world to configure milking systems.
-QUALCOMM TO ACQUIRE NETWORKING TECHNOLOGY PROVIDER IKANOS IN USD 47M
US-based wireless technologies company Qualcomm Inc.'s (NASDAQ: QCOM) Qualcomm Atheros, Inc. subsidiary has entered into a definitive merger agreement to acquire US-based broadband networking semiconductor and software provider Ikanos Communications, Inc. (NASDAQ: IKAN), the company said on Thursday. Under the deal, Qualcomm Atheros, through a wholly-owned subsidiary, will launch a tender offer to acquire all of the issued and outstanding shares of common stock of Ikanos for USD 2.75 per share in cash, and assume all outstanding indebtedness at the closing of the transaction. The deal is worth USD 47m.
-CAPSA SOLUTIONS ACQUIRES RUBBERMAID HEALTHCARE
US-based healthcare IT provider Capsa Solutions has acquired US-based Rubbermaid Healthcare, the company said on Thursday. RHC, formerly part of Newell Rubbermaid Inc., provides technology-enabled products including mobile computing carts, medication carts, and wall-mounted IT workstations to healthcare facilities. The acquisition of RHC is the company's fourth acquisition in the last eight years, and brings together two leading providers of healthcare IT and computing.
-CEMTREX TO ACQUIRE AN INDUSTRIAL MANUFACTURER "WITHIN 90 DAYS"
US-based industrial and manufacturing company Cemtrex (NASDAQ: CETX) has recently entered into a letter of intent to purchase an undisclosed US-based industrial manufacturing and services company, Cemtrex said. According to Cemtrex, the target company's average revenues and normalized EBITDA over the last two years was approximately USD 23m and USD 2.4m respectively. The parties have initiated a period of exclusivity, which is intended to result in a definitive purchase agreement.
-METALS PROCESSOR RYERSON ACQUIRES SOUTHERN TOOLSTEEL
US-based metals distributor and processor Ryerson Holding Corp. (NYSE: RYI) has acquired US-based metals service center Southern Tool Steel, the company said. According to Ryerson, Southern Tool Steel brings a diversified, largely transactional account base and specialisation in bar and plate processing, as well as grinding capabilities. Southern Tool Steel has two locations and approximately 90 employees serving the southeastern United States.
-ICLICK BUYS CHINESE MOBILE ADVERTISING PLATFORM OPTAIMMOVE
Chinese digital marketing platform iClick Interactive Asia has completed a transaction to acquire a 100% stake of mobile advertising platform provider OptAim Technology to further strengthen its cross-platform marketing capabilities in China, the company said. iClick said that the acquisition was settled by an undisclosed amount of shares and cash. OptAim, headquartered in Beijing, owns and operates a mobile advertising platforms in China.
-US INSURANCE BROKERAGE INTEGRO AGREES TO BUYOUT BY ODYSSEY INVESTMENT AFFILIATES
US-based insurance brokerage and risk management firm Integro Ltd. has reached an agreement to be acquired by entities affiliated with US private equity firm Odyssey Investment Partners, LLC, Integro said. Founded in 2005, Integro has evolved to become a specialty firm with an international presence. Integro serves clients in over 125 countries from more than 40 offices in the United States, Canada, the United Kingdom and Bermuda.
-SOLARCITY TO ACQUIRE MEXICAN SOLAR DEVELOPER ILIOSS
US-based solar energy system provider SolarCity (NASDAQ: SCTY) has agreed to acquire commercial and industrial solar developer ILIOSSON, S.A. de C.V., the company said. Upon close of the acquisition, ILIOSS will operate as an independent business unit of SolarCity. ILIOSS co-founder and chairman David Arelle and co-founder and chief operating officer Manuel Vegara will lead the new business unit as president and general manager, respectively.
-HEALTH CATALYST ACQUIRES BUSINESS INTELLIGENCE FIRM HEALTH CARE DATAWORKS
US-based healthcare data warehousing and analytics company Health Catalyst has acquired US-based Health Care DataWorks, a provider of business intelligence for health systems, the company said. HCD is a privately-held company based in Columbus, OH that provides health systems with data warehousing tools to improve their quality of care and reduce costs. The cash-and-stock purchase closed on July 31.
-IMPRIMIS PHARMACEUTICAL ACQUIRES THIRD COMPOUNDING PHARMACY IN USA
US-based specialty pharmaceutical company Imprimis Pharmaceuticals, Inc. (NASDAQ: IMMY) has acquired Texas, US-based compounding pharmacy JT Pharmacy, Inc., d/b/a Central Allen Pharmacy, the company said. Imprimis said that the move expands the availability of its proprietary ophthalmic and urologic compounded formulations to physicians and patients in Texas. The company's expansion into the Lone Star State resulted from its recent acquisition of, a compounding pharmacy located outside of Dallas.
-THE POINT GROUP ACQUIRES SENIOR LIVING COMMUNICATIONS AGENCY
US-based holding company Point Communications, Inc.'s The Point Group subsidiary has acquired Dallas, US-based Forte Group, Inc., a public relations, brand, marketing and digital communications agency exclusively serving the senior living industry, the firm said. The acquisition fortifies The Point Group's position as a mid-sized full-service marketing communications firm in the Southwest.
-INVESTORS REAL ESTATE TRUST CLOSES USD 250M SALE OF COMMERCIAL OFFICE ASSETS
US-based REIT Investors Real Estate Trust (NYSE: IRET) (NYSE: IRET PR) (NYSE: IRET PRB) has closed on the sale of 34 commercial office properties for USD 250m, netting the company approximately USD 129m in cash, the company said. This announced closing was the first of several portfolio sales the company anticipates will occur in its fiscal 2016 second quarter, which began 1 August 2015. IRET previously announced it is divesting of its office and retail portfolios with the objective of focusing its portfolio strategy.
-PHILLIPS EDISON GROCERY CENTER REIT BUYS TWO US SHOPPING CENTRES
US-based real estate investment trust Phillips Edison Grocery Center REIT II, Inc. has acquired two grocery-anchored shopping centres, expanding the company's portfolio in Texas and California, the company said. Plano Market Street is a 169,624 square foot grocery store-anchored shopping centre in Plano, Texas, a suburb of Dallas, Texas.
-SGS INTERNATIONAL ACQUIRES CANADIAN MARKETING AGENCY TRAFFIKNEW
US-based print production and packaging services provider SGS International, a leader has acquired Canadian marketing services firm Traffik, the company said. Traffik's 90-person team of copywriters, art directors, strategists, client-service professionals and production artists will integrate into the SGS creative engine immediately. The acquired company's founder and current chief executive officer Mark Ferrier will continue to lead Traffik while taking on an expanded role within SGS to oversee the Canadian SGS operations.
-AMERICAN INDEPENDENCE, FOLIOMETRIX MERGE TO FORM RISKX INVESTMENTS
US-based investment advisory and mutual fund firm RiskX Investments, LLC has been created through the merger of American Independence Financial Services, LLC and FolioMetrix, the company said. RiskX Investments includes both the American Independence single-manager sub-advised funds and separately managed accounts, and the Rx Funds multi-strategy tactical mutual fund series. The company's proprietary research process and database of managers provides financial advisors and institutions access to a range of sub-advisers and strategists.
-AMERICAN REALTY CAPITAL DAILY NET ASSET VALUE TRUST TO SELL ENTIRE PORTFOLIO
US-based non-traded real estate investment trust American Realty Capital Daily Net Asset Value Trust plans to sell all 14 of its assets and return the proceeds to its investors, the company said. The company has acquired a USD 35m portfolio of properties net leased long term to tenants. American Realty Capital Daily Net Asset Value Trust said it will hold a special meeting of stockholders on 1 September for the express purpose of considering and voting upon a proposal to approve the sale of all or substantially all of the company's assets, its liquidation, and its dissolution, pursuant to a plan of liquidation.
-ASSOCIATED ESTATES SHAREHOLDERS APPROVE USD 28.75/SHARE BROOKFIELD BUYOUT
Shareholders US-based REIT Associated Estates Realty Corp. have voted to approve its pending acquisition by a real estate fund managed by Brookfield Asset Management Inc. (NYSE: BAM) (TSX: BAM) (Euronext: BAMA), the company said. Associated Estates and Brookfield announced the proposed merger 22 April 2015. The transaction is valued at approximately USD 2.5bn including the assumption of debt.
-CDI TO ACQUIRE INDIAN STAFFING FIRM SCALENEWORKS
US-based staffing company CDI Corp. (NYSE: CDI) has entered into a definitive agreement to acquire Indian talent acquisition solutions firm ScaleneWorks People Solutions LLP, the company said. The closing is subject to certain conditions, including regulatory approval by Indian authorities. Founded in 2010, ScaleneWorks provides enterprise and task recruitment and recruitment process outsourcing solutions, as well as other talent analytics and advisory solutions, to multiple leading companies in India.
-EXPERIS ACQUIRES MAJORITY STAKE IN CANADIAN IT CONSULTANT VERITAAQ
US-based staffing company ManpowerGroup's (NYSE: MAN) Experis unit will acquire the majority ownership of Canadian IT consulting firm Veritaaq, the company said. With this transaction, which is expected to close in late September, Experis strengthens its capabilities across North America and complements the organic growth of the Experis business in Canada. Veritaaq is one of the largest suppliers of IT consulting services to Canada's federal government and partner to telecommunications, financial services, and oil and gas organisations.
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|Publication:||M & A Navigator|
|Date:||Aug 6, 2015|
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