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M and A Navigator: Deal pipeline -9 October.

MANews-(C)2009-2015

The following is a list of deals covered in detail by M and A Navigator this week:

-HASTINGS EQUITY PARTNERS ACQUIRES FRACKING TOOL DEVELOPER

US-based private equity firm Hastings Equity Partners has closed its fourth Fund III platform investment in US-based Hybrid Tool Solutions, LLC, the firm said.

Headquartered in Lindsay, Oklahoma Hybrid provides its customers with a patent pending process for conducting frac plug drill outs.

Status: Closed

-ENCORE SELLS MISSISSIPPI RETAIL CENTRE

US-based commercial real estate company Encore Retail, LLC has sold Gulfport Plaza, a 34,036 square-foot retail centre located in Gulfport, Mississippi, the company said.

The property is shadow anchored by a Super Wal-Mart and boasts myriad national and regional retailers including CATO, It's Fashion, Advance America, GNC, Sally Beauty Supply, GameStop, and Petco.

Status: Closed

-ROUNDTABLE HEALTHCARE SELLS EXCELSIOR MEDICAL TO ICU MEDICAL

US-based healthcare-focused private equity firm RoundTable Healthcare Partners has sold US-based medical device maker Excelsior Medical Corp. to ICU Medical, Inc., the firm said.

The purchase price was USD 59.5m. ICU Medical develops, manufactures and sells medical technologies used in infusion therapy, oncology, and critical care applications.

Status: Closed

-HEALTHCARE STAFFING FIRM AMN HEALTHCARE CLOSES MILLICANSOLUTIONS ACQUISITION

US-based healthcare workforce solutions and staffing services provider AMN Healthcare Services, Inc. (NYSE: AHS) has closed its acquisition of MillicanSolutions, a physician and executive leadership search firm focused on serving academic medical centers and children's hospitals nationwide, AMN said.

The acquisition includes cash payments totaling USD 4m. AMN Healthcare offers healthcare workforce solutions and staffing services to healthcare facilities across the nation.

Status: Closed

-COMPASS DIVERSIFIED SELLS AMERICAN FURNITURE MANUFACTURING FOR USD 24.1M

US-based middle market business owner Compass Diversified Holdings (NYSE: CODI) has simultaneously entered into a definitive agreement to sell and consummated the sale of its majority owned subsidiary, American Furniture Manufacturing, Inc. to a private investor group, including certain members of American Furniture's management team, for a total enterprise value of USD 24.1m, Compass said.

Status: Closed

-CDI ACQUIRES IT STAFFING FIRM EDGEROCK TECHNOLOGIES FOR USD 31M

US-based staffing services provider CDI Corp. (NYSE: CDI) has acquired 100% of the members' interests in US-based specialist IT staffing services provider EdgeRock Technologies, LLC, the company said.

EdgeRock operates a national client platform with headquarters in Boston, Massachusetts, and additional offices in Tampa, Florida, and Phoenix, Arizona. Total transaction consideration at closing was approximately USD 31m in cash, subject to standard working capital adjustments.

Status: Closed

-INVESTOR GROUP ACQUIRES CONTROLLING STAKE IN US HUMMUS-MAKER BLUE MOOSE

US-based Blue Moose of Boulder, a craft provider of natural hummus and refrigerated spreads, has sold a majority of its business assets to a consumer focused investor group, the company said. Blue Moose has been around since 1997, and sells under the Blue Moose of Boulder and Ciolo brands.

Status: Closed

-OLIN CLOSES ACQUISITION OF DOW'S CHLORINE PRODUCTS BUSINESS

US-based chemical makerOlin Corp. (NYSE: OLN) has closed its USD 5bn acquisition of The Dow Chemical Co.'s (NYSE: DOW) US Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses with Olin, the company said.

On 27 March 2015, Dow and Olin entered into a definitive agreement under which Dow will separate its US Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses, and then merge these businesses with Olin in a Reverse Morris Trust transaction.

Status: Closed

-VALEANT PHARMACEUTICALS CLEAR ANTITRUST HURDLE IN SYNERGETICS USA DEAL

The applicable waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976 was granted early termination by the US Federal Trade Commission with regard to Canadian drugmaker Valeant Pharmaceuticals International, Inc.'s (NYSE: VRX) (TSX: VRX) agreement to acquire US-based medical device maker Synergetics USA, Inc. (NASDAQ: SURG) for USD 6.50 per share in cash, the company said.

Status: Agreed

-WHEATSTONE ACQUIRES AUDION LABS AND THE VOXPRO DIGITAL AUDIO EDITOR

US-based broadcast audio equipment maker Wheatstone Corp. has acquired Audion Labs and with it, the industry's VoxPro digital audio editor, the company said. Wheatstone leads the industry in IP audio networking as the innovator of WheatNet-IP, a complete, end-to-end IP audio network comprising audio consoles, routing, mixing, processing, silence detection and logic control.

Status: Closed

-EQUIFAX UPS OFFER FOR AUSTRALIAN CREDIT BUREAU VEDA

US-based credit bureau Equifax Inc. (NYSE: EFX) has increased its all-cash non-binding proposal to acquire all the outstanding shares of common stock of Australian credit bureau Veda Group Ltd. (ASX: VED) to AUD 2.825 per share, increasing its offer by USD 75m, resulting in an implied market capitalisation of approximately USD 1.7bn, the company said.

In September, Equifax submitted a non-binding proposal to acquire Veda for AUD 2.70 per share in cash in a transaction valued at approximately AUD 2.3bn or USD 1.6bn, the company has confirmed.

Status: Bidding

-LOGICALIS BUYS CHANNEL ISLANDS NETWORKING, COLLABORATION PROVIDER LEKSOM

UK-based IT solutions and managed services provider Logicalis Group has acquired Jersey-based networking and collaboration provider Lekscom, adding new capability to bolster its Channel Islands operation, the company said.

Lekscom has attracted customer relationships on the island due to its Cisco technical skills and managed services expertise.

Status: Closed

-DIGI INTERNATIONAL ACQUIRES CANADIAN IOT SOLUTION PROVIDER BLUENICA

US-based M2M solutions company Digi International, (NASDAQ: DGII) has acquired St. Catharines, Ontario-based bluenica, a company focused on temperature monitoring of perishable goods in the food industry, Digi said.

Status: Closed

-ALLEGHANY CAPITAL'S KENTUCKY TRAILER BUYS MOBILE MEDICAL TRAILER SPECIALIST SMIT

US-based Alleghany Capital Corp's R.C. Tway Co., LLC subsidiary, a manufacturer of custom trailers and truck bodies, has acquired Dutch mobile medical imaging equipment firm Smit Mobile Equipment B.V. and UK-based mobile medical trailer provider Smit Mobile Equipment Ltd., the company said.

Status: Closed

-D/S COMMUNICATIONS ACQUIRES ASSETS OF NEW ZEALAND'S MAKO NETOWORKS

US telecommunications service provider D/S Communications has acquired the assets of New Zealand-based Mako Networks from the company's receivers, the company said. On 20 August 2015 Mako's directors appointed Waterstone Insolvency as liquidators for the company, following the cessation of funding arrangements.

Secured creditor, Spark Ltd., placed the assets and undertakings of the company in receivership with KordaMentha the following day. On 1 October 2015 D/S purchased the assets from KordaMentha for approximately NZD 3m (USD 2.01m).

Status: Closed

-TWINLAB CONSOLIDATED ACQUIRES FLORIDA SUPPLEMENTS DISTRIBUTOR ORGANIC HOLDINGS

US-based health and wellness company Twinlab Consolidated Holdings, Inc. (OTC: TLCC) has completed its acquisition of Florida-based supplements distributor Organic Holdings LLC, the company said.

Organic Holdings is the distributor of premium nutritional supplements under the Reserveage Nutrition family of brands.

Status: Closed

-HASTINGS EQUITY PARTNERS ACQUIRES FRACKING TOOL DEVELOPER

US-based private equity firm Hastings Equity Partners has closed its fourth Fund III platform investment in US-based Hybrid Tool Solutions, LLC, the firm said. Headquartered in Lindsay, Oklahoma Hybrid provides its customers with a patent pending process for conducting frac plug drill outs.

According to Hastings, the Hybrid Tool is the most advanced system on the market because it simplifies the steps involved in stick pipe drill outs and tube ups.

Status: Closed

-ENCORE SELLS MISSISSIPPI RETAIL CENTRE

US-based commercial real estate company Encore Retail, LLC has sold Gulfport Plaza, a 34,036 square-foot retail centre located in Gulfport, Mississippi, the company said. The property is shadow anchored by a Super Wal-Mart and boasts myriad national and regional retailers including CATO, It's Fashion, Advance America, GNC, Sally Beauty Supply, GameStop, and Petco.

Status: Closed

-ROUNDTABLE HEALTHCARE SELLS EXCELSIOR MEDICAL TO ICU MEDICAL

US-based healthcare-focused private equity firm RoundTable Healthcare Partners has sold US-based medical device maker Excelsior Medical Corp. to ICU Medical, Inc., the firm said. The purchase price was USD 59.5m. ICU Medical develops, manufactures and sells medical technologies used in infusion therapy, oncology, and critical care applications.

Status: Closed

-HEALTHCARE STAFFING FIRM AMN HEALTHCARE CLOSES MILLICANSOLUTIONS ACQUISITION

US-based healthcare workforce solutions and staffing services provider AMN Healthcare Services, Inc. (NYSE: AHS) has closed its acquisition of MillicanSolutions, a physician and executive leadership search firm focused on serving academic medical centers and children's hospitals nationwide, AMN said. The acquisition includes cash payments totaling USD 4m.

Status: Closed

-COMPASS DIVERSIFIED SELLS AMERICAN FURNITURE MANUFACTURING FOR USD 24.1M

US-based middle market business owner Compass Diversified Holdings (NYSE: CODI) has simultaneously entered into a definitive agreement to sell and consummated the sale of its majority owned subsidiary, American Furniture Manufacturing, Inc. to a private investor group, including certain members of American Furniture's management team, for a total enterprise value of USD 24.1m, Compass said.

After the payment of all of the transaction expenses, CODI received approximately USD 23.5m of proceeds from the sale at closing.

Status: Closed

-CDI ACQUIRES IT STAFFING FIRM EDGEROCK TECHNOLOGIES FOR USD 31M

US-based staffing services provider CDI Corp. (NYSE: CDI) has acquired 100% of the members' interests in US-based specialist IT staffing services provider EdgeRock Technologies, LLC, the company said. EdgeRock operates a national client platform with headquarters in Boston, Massachusetts, and additional offices in Tampa, Florida, and Phoenix, Arizona.

Total transaction consideration at closing was approximately USD 31m in cash, subject to standard working capital adjustments.

Status: Closed

-EASTERLY GOVERNMENT PROPERTIES TO ACQUIRE CALIFORNIA DEA LABORATORY

US-based REIT Easterly Government Properties, Inc. (NYSE: DEA) has agreed to acquire a 42,480 square foot Drug Enforcement Administration regional laboratory in Pleasanton, California, the company said.

The DEA is the lead US federal agency for the enforcement of controlled substance laws and regulations. Through a network of seven regional and two specialized laboratories, the DEA laboratory system provides scientific and forensic support to DEA special agents and other law enforcement personnel.

Status: Agreed

-RISKIQ ACQUIRES THREAT INFRASTRUCTURE ANALYSIS SPECIALIST PASSIVETOTAL

US-based cybersecurity company RiskIQ has acquired PassiveTotal to expand its portfolio into threat analysis, the company said. The newly released PassiveTotal Platform, supported by RiskIQ threat data, enables analysts to map out the attack footprint of adversaries.

Status: Closed

-TA ASSOCIATES, REVERENCE CAPITAL PARTNERS TO ACQUIRE RUSSELL INVESTMENTS FROM LSE GROUP

US-based private equity firm TA Associates has signed a definitive agreement to acquire US-based investment manager Frank Russell Co's asset management business from UK-based London Stock Exchange Group plc in a transaction valued at USD 1.15bn, the firm said.

Reverence Capital Partners partnered with TA Associates and will make a significant minority investment in Russell Investments.

Status: Agreed

-ST. JUDE MEDICAL CLOSES USD 3.3BN THORATEC ACQUISITION

US-based medical device maker St. Jude Medical, Inc. (NYSE: STJ) has completed its acquisition of US-based mechanical circulatory support technology specialist Thoratec Corp., the company said.

The acquisition will add the HeartMate II VAD, a widely used and left ventricular assist device, as well as the next generation HeartMate 3, HeartMate PHP devices and other complementary products to St. Jude Medical's market-leading heart failure portfolio.

Status: Closed

-TEXAS SOFTWARE FIRM DAEGIS AGREES TO OPEN TEXT BUYOUT

Texas, US-based enterprise software company Daegis Inc. (NASDAQ: DAEG) has entered into a definitive agreement with Canadian software company Open Text Corp. (NASDAQ: OTEX) (TSX: OTC) whereby OpenText will acquire all of the outstanding shares of Daegis for USD 0.82 per share in cash the company said.

Under the terms of the merger agreement, OpenText will commence a tender offer within ten business days for all shares of outstanding common stock of Daegis for USD 0.82 per share in cash reflecting a total equity value of approximately USD 13.5m.

Status: Agreed

-LATERAL LINK ACQUIRES LEGAL STAFFING FIRM CADENCE COUNSEL

US-based legal recruiting company Lateral Link has acquired US-based legal staffing firm Cadence Counsel, the company said. Cadence Counsel specializes in providing lawyers for project and variable term engagements.

Status: Closed

-ARTNEWS, BMP MEDIA CLOSE MERGER OF ART MEDIA PROPERTIES

Poland-based art media company Artnews SA and US-based Brant Publications, Inc. have combined the two publishing companies' art media assets, the companies said.

According to the companies, the move will create the world's largest print and digital publisher of scholarly writing, art- related news, information and art business intelligence.

Status: Closed

-GAGAMEDIA NIXES STRAWBERRY COSMETICS ACQUISITION

Taiwan-based online games and cloud computing services provider GigaMedia Ltd. (NASDAQ: GIGM) has entered into a mutual termination agreement with the shareholders of Strawberry Cosmetics Holding Ltd. a global cosmetics e-commerce company, to terminate a share purchase agreement that the parties previously entered into on 26 June 2015 for GigaMedia to acquire a 70% equity interest in Strawberry Cosmetics.

In connection with the termination, the parties have entered into a mutual termination agreement, whereby GigaMedia will pay USD 2m consideration to the shareholders of Strawberry Cosmetics and the parties, in turn, have agreed to release each other from any claims relating to the proposed acquisition.

Status: Terminated

-VWR ACQUIRES SOLVENT COMPANY PURIFICATION TECHNOLOGIES

US-based laboratory products provider VWR (NASDAQ: VWR) has acquired Purification Technologies Inc., a specialty solvent company that performs high volume purification of selected high purity solvents, the company said.

VWR said the acquisition will enhance its laboratory and production chemical manufacturing portfolio to better support its laboratory and biopharmaceutical manufacturing customers.

Status: Closed

-SECURITY PROPERTIES AND INTERCONTINENTAL BUYS ARIZONA APARTMENT PROPERTY

US-based real estate company Security Properties and Intercontinental Real Estate Corp. has purchased Pillar at Scottsdale, a 539-unit, class A multifamily property located in Scottsdale, Arizona for USD 95.75m, the company said.

The asset was purchased through Security Properties Multifamily Fund II in its second joint venture with Intercontinental and their US REIF Fund. It is Fund II's second purchase in the Phoenix market and the 11th asset overall. This is the 89th asset in the Intercontinental Fund.

Status: Closed

-PHILLIPS EDISON GROCERY REIT II 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 Florida and South Carolina, the company said.

Island Walk Shopping Center is a 213,656 square foot grocery store-anchored shopping center in Fernandina Beach, Florida, a suburb located on Amelia Island, 36 miles north of Jacksonville.

Status: Closed

-NTVB MEDIA ACQUIRES TV GUIDE MAGAZINE

US-based NTVB Media, Inc., owner of TV Weekly and leading cable and satellite publications, has acquired TVGM Holdings L.L.C., owner of TV Guide Magazine and TVInsider.com, from OpenGate Capital, the company said.

The acquisition creates the country's largest group of print publications for television watchers, with TV Guide Magazine's 1.8 m subscribers and NTVB's 1m.

Status: Closed

-COLDWELL BANKER RESIDENTIAL REAL ESTATE BUYS FLORIDA FIRM

US-based residential real estate brokerage Coldwell Banker Residential Real Estate LLC has acquired the assets of Island Estates Realty in Clearwater Beach, the company said. The company's office located at 110 Island Way, Clearwater, Florida, will now operate as Coldwell Banker Residential Real Estate.

Status: Closed

-DYAL CAPITAL PARTNERS ACQUIRES MINORITY STAKE IN CHENAVARI INVESTMENT MANAGERS

US-based investment manager Neuberger Berman's Dyal Capital Partners private equity business has acquired a passive minority interest in the controlling company of UK-based Chenavari Investment Managers, the firm said.

Chenavari is an alternative asset management group focused on credit, structured finance, real estate and private debt strategies, with approximately USD 5.4bn of assets under management as of 1 September 2015.

Status: Closed

-BODY ARMOUR MAKER ACHILLES TECHNOLOGY ACQUIRES MATERIALS AND ELECTROCHEMICAL RESEARCH

US-based security products holding company Achilles Technology Solutions LLC has acquired US-based technology developer Materials and Electrochemical Research Corp., the company said. This acquisition becomes a part of Achilles Technology Solutions LLC in addition to its body armour subsidiary, ATS Armor LLC.

Status: Closed

-STRAHMAN VALVES ACQUIRES ILLINOIS COMPANY

US-based valve manufacturer Strahman Valves, Inc. has completed negotiations to acquire Ilinois, US-based butterfly valve provider Bi-Torq Valve Automation Inc., the company said. BI-Torq will continue to operate from its facility located in La Fox, Ilinois.

Status: Closed

-CITI HABITATS ACQUIRES BROOKLYN BROKERAGE, RENTAL FIRM

US-based real estate company The Corcoran Group's Citi Habitats division has acquired the assets of David Maund Inc., which does business as aptsandlofts.com and is headquartered in Brooklyn, N.Y., the company said.

Founded in 2002, aptsandlofts.com is a leading real estate brokerage, rental and new development marketing firm with a strong presence in the borough.

Status: Closed

-SAINT-GOBAIN TO SELL GERMAN ROOFING PRODUCTS DISTRIBUTOR

French building materials group Saint-Gobain has signed an agreement with the investment fund Palero GmbH to sell GallhA[pilcrow sign]fer Dach GmbH, its specialist roofing product distributor in Germany, which reported sales of EUR 149m in 2014, the group said.

This transaction, which should be completed by the end of the year, is fully in line with Saint-Gobain Building Distribution's strategy of optimizing its portfolio by divesting non-core assets presenting few synergies with its other businesses, and bolstering its leading positions in Europe and in Brazil.

Status: Agreed
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Publication:M & A Navigator
Date:Oct 9, 2015
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