68 | BUYOUTS | December 24, 2018 www.buyoutsnews.com MARKET INTELLIGENCE
The following charts reflect transactions involving U.S.-based financial sponsors. The categories include seeking buyers, announced deals, closed transactions. The source for the data is Thomson One, a product of Thomson Reuters Markets. Please contact Joseph Weitemeyer at [email protected] with questions or comments. DEAL FLOW Seeking Buyers–U.S. Targets (November 16, 2018 - December 5, 2018) MEDIA AND ENTERTAINMENT
Date Target Name Target City Target Target Full Business Description Target Synopsis Announced State Advisors
11/27/18 Epsilon Data Irving TX Epsilon Data Management LLC, located in Irving, Texas, provides - US - In November 2018, Alliance Data Management marketing and data processing services. It offers integrated Systems Corp announced that it was seeking LLC services including strategic consulting, acquisition and customer a buyer for its Epsilon Data Management database technologies, loyalty management, proprietary data, LLC unit, an Irving-based provider of predictive modeling and a wide range of direct and digital marketing consulting services. agency services. The Company was founded in 1969. RECENT DEALS Announced, Pending LBOs By U.S. Sponsors (November 16, 2018 - December 5, 2018) CONSUMER PRODUCTS AND SERVICES Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil)
11/21/18 Kleinfelder Inc Engineering Wind Point Partners Wind Point - US - Wind Point Partners definitively agreed to acquire Kleinfelder Services Partners Inc, a San Diego-based provider of engineering services, in a leveraged buyout transaction.
11/19/18 HSM Ltd Telephone Aquiline Capital Aquiline 0.64 UK - Aquiline Capital Partners LLC of the US agreed to acquire HSM Answering Partners LLC Capital Ltd, a Swindon- based provider of telephone answering services, from Services Partners LLC Jaywing PLC, for a total GBP 0.5 mil (USD 0.642 mil), in a leveraged buyout transaction.
11/16/18 Healthscape Provides Convey Health New - US - Convey Health Solutions Inc, a unit of New Mountain Capital LLC, Advisors Llc management Solutions Inc Mountain agreed to acquire the entire share capital of HealthScape Advisors consulting Capital LLC, a Chicago-based provider of administrative management and services Group LLC general management consulting services. The transaction was to include Pareto Intelligence LLC. ENERGY AND POWER Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil)
12/03/18 Thorntons Inc Gasoline Thorntons Inc SPV ArcLight - US - Thorntons Inc SPV, a special purpose acquisition vehicle by Stations With Capital ArcLight Capital Partners LLC and BP PLC, agreed to acquire Thorntons Convenience Partners LLC Inc (Thorntons), a Louisville- based owner and operator of gasoline Stores stations with convenience stores, in a leveraged buyout transaction. Terms were not disclosed. Originally, in June 2018, Thorntons was rumored to be seeking a buyer for the company. Marathon Petroleum Corp and 7-Eleven were named as potential bidders.
11/26/18 Emera-Gas Fired Fossil Fuel The Carlyle Group LP The Carlyle 590.00 US - The Carlyle Group LP agreed to acquire the 3 gas fired generation Gen Faci,NE(3) Electric Power Group LP facilities, New England of Emera Inc, a Halifax-based electric power Generation distributor, for USD 590 mil, in a leveraged buyout transaction.
11/20/18 FirstEnergy Hydroelectric Vermillion Power LLC Starwood 144.00 US - Vermillion Power LLC, a unit of Starwood Energy Group Global Generation-W Power Capital LLC, agreed to acquire the West Lorain Facility of the bankrupt Lorai Generation Group Global FirstEnergy Generation Corp, an Akron- based electric power distributor, ultimately owned by FirstEnergy Corp, for a total USD 144 mil, via an auction. www.buyoutsnews.com December 24, 2018 | BUYOUTS | 69 MARKET INTELLIGENCE
FINANCIALS Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil)
11/27/18 Scott Riddle Agcy Direct Life Integrity Marketing HGGC LLC - US - Integrity Marketing Group LLC, a unit of HGGC LLC, definitively Insurance Group LLC agreed to acquire Scott Riddle Agency, a Waco-based direct life Carriers insurance carrier. Terms were not disclosed.
11/19/18 Ultimus Fund Pvd financial Gtcr LLC Gtcr LLC - US - Gtcr LLC definitively agreed to acquire Ultimus Fund Solutions LLC, a Solutions LLC svcs Cincinnati-based portfolio manager, in a leveraged buyout transaction.
11/19/18 Gemini Cos Miscellaneous Gtcr LLC Gtcr LLC - US - GTCR LLC (GTCR) definitively agreed to acquire Gemini Cos, an Intermediation Omaha- based intermediator, in a leveraged buyout transaction. Concurrently, GTCR agreed to acquire Ultimus Fund Solutions. HIGH TECHNOLOGY Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil)
11/29/18 Wrike Inc Software Vista Equity Partners Vista Equity - US - Vista Equity Partners LLC definitively agreed to acquire an Publishers LLC Partners LLC undisclosed majority interest in Wrike Inc, a San Jose-based developer of online work management platform, in a leveraged buyout transaction.
11/29/18 TRUSTID Inc Software NeuStar Inc Golden Gate - US - NeuStar Inc, jointly owned by Golden Gate Capital Inc and GIC Publishers Capital Inc Special Investments Pte Ltd, definitively agreed to acquire TRUSTID Inc, a Portland-based software publisher. INDUSTRIALS Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil)
12/05/18 Caliber Collision Automotive ABRA Auto Body & Hellman & - US - ABRA Auto Body & Glass LP, a unit of Hellman & Friedman Centers Inc Body, Paint, Glass LP Friedman LLC, definitively agreed to merge with Caliber Collision Centers and Interior LLC Inc, a Lewisville-based provider of automotive surfaces repair and Repair and maintenance services, from OMERS Private Equity Inc, ultimately Maintenance owned by Ontario Municipal Employees Retirement System and Leonard Green & Partners LP, in a leveraged buyout transaction. Terms were not disclosed.
12/03/18 Navistar Defense Automobile Cerberus Capital Cerberus - US - Cerberus Capital Management LP agreed to acquire a 70% LLC Manufacturing Management LP Capital interest in Navistar Defense LLC, a Lisle- based manufacturer of Management tactical wheeled vehicles, from Navistar Inc, ultimately owned by LP Navistar International Corp, in a leveraged buyout transaction.
11/22/18 Neinver SA- Commercial & Blackstone Group LP Blackstone 330.11 SPAIN - Blackstone Group LP of the US planned to acquire 37 Logistics Institutional Group LP logistics centres of Neinver SA, an Alcobendas- based provider of Building land subdivision services, for EUR 290 mil (USD 330.107 mil), in a Construction leveraged buyout transaction.
11/19/18 GeoStabilization Engineering KKR & Co Inc KKR & Co Inc - US - KKR & Co Inc agreed to acquire GeoStabilization International Intl LLC Services LLC, a Grand Junction-based provider of engineering services, from CAI Capital Management Co, in a leveraged buyout transaction. Terms were not disclosed.
11/16/18 Elkay Mnfr,whl ACProducts Inc American - US - ACProducts Inc, a unit of American Industrial Partners LP, agreed Manufacturing plumbing, Inds Partners to acquire Elkay Manufacturing Co, an Oak Brook-based manufacturer Co cabinetry Mgmt and wholesaler of plumbing, water dispensing, decorative surface, and cabinetry products. MATERIALS Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil)
11/19/18 Vantacore Aggregate Sun Capital Partners Sun Capital 205.00 US - Sun Capital Partners Inc planned to acquire VantaCore Partners LLC, Partners LLC mining Inc Partners Inc a Philadelphia- based limestone quarry operator, from Natural Resource company Partners LP, for a total USD 205 mil, in a leveraged buyout transaction. 70 | BUYOUTS | December 24, 2018 www.buyoutsnews.com MARKET INTELLIGENCE
MEDIA AND ENTERTAINMENT Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil)
11/19/18 Jelli Inc Radio iHeartMedia Inc Thomas H - US - iHeartMedia Inc, jointly owned by Thomas H Lee Partners LP and Networks Lee Co Bain Capital Partners LLC, agreed to acquire Jelli Inc, a San Mateo- based radio network. RETAIL Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil)
12/5/18 Trade Me Group All Other Hellman & Friedman Hellman & 1,820.99 NEW ZEALAND - Hellman & Friedman LLC (H&F) of the US planned to Ltd Miscellaneous LLC Friedman acquire the entire share capital of Trade Me Group Ltd (Trade Me), a Store Retailers LLC Wellington-based Electronic auctioneer, for NZD 6.45 (USD 4.468) in (Except cash per share, or a total of NZD 2.56 bil (USD 1.774 bil), in an unsolicited Tobacco leveraged buyout transaction. Originally, H&F was rumored to be planning Stores) to acquire the entire share capital of Trade Me, in a leveraged buyout transaction. Subsequently, Apax Partners LLP of the UK, planned to acquire the entire share capital of Trade Me, for a total NZD 2.541 bil (USD 1.725 bil).
Closed LBOs By U.S. Sponsors (November 16, 2018 - December 5, 2018) CONSUMER PRODUCTS AND SERVICES Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/27/18 Taylor Consulting Lessors Of Albireo Energy Huron Capital - US - Albireo Energy LLC, a unit of Huron Capital Partners LLC, & Nonresidential LLC Partners LLC acquired Taylor Consulting & Contracting LLC, an Avoca-based Buildings (Except provider of technical consulting services. Miniwarehouses)
11/19/18 PlayMonster LLC Data Processing, Audax Group LP Audax Group LP - US - Audax Group LP acquired PlayMonster LLC, a Beloit- based Hosting, and manufacturer of toys, from Topspin Partners, in a leveraged Related Services buyout transaction. CONSUMER STAPLES Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/29/18 EA Berg Lessors Of Impact Group CI Capital - US - Impact Group, a unit of CI Capital Partners LLC, acquired EA Associates Inc Nonresidential Partners LLC Berg Associates Inc, a Paramus-based food broker company. Buildings (Except Miniwarehouses)
11/20/18 HPI Holdings Ltd Consumer Investor Group Investor Group - CANADA - An investor group, comprised of Integris Health Lending Inc and United Surgical Partners International Inc acquired an undisclosed majority interest in HPI Holdings Ltd, a North York- based provider of crop production services, from Newstrike Resources Ltd.
11/19/18 Pearson's Candy Commercial Air, Spell Capital Spell Capital - US - Spell Capital Partners LLC acquired Pearson's Candy Co, a Co Rail, and Water Partners LLC Partners LLC St Paul-based manufacturer of chocolate and confectionery, in a Transportation leveraged buyout transaction. Equipment Rental and Leasing
11/16/18 Custom Cooler Insurance KPS Global LLC D Cubed Group - US - KPS Global LLC, a unit of D Cubed Group LLC, acquired Inc Agencies and LLC Custom Cooler Inc, a San Dimas-based manufacturer of Brokerages household refrigerators. Terms were not disclosed.
11/20/18 Noosa Yoghurt Pvd waste Sovos Brands Advent - US - Sovos Brands Intermediate Inc, a unit of Advent International LLC mgmt,disposal Intermediate Inc International LLC, acquired the entire share capital of Noosa Yoghurt LLC, a svcs Corp Bellvue-based manufacturer of frozen desserts, from Advent International Corp. www.buyoutsnews.com December 24, 2018 | BUYOUTS | 71 MARKET INTELLIGENCE
CONSUMER STAPLES Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/25/18 Greencore US Computer Hearthside Food Charlesbank 1,075.00 US - Hearthside Food Solutions LLC, jointly owned by Partners Holding LLC software Solutions LLC Capital Partners Group AG and Charlesbank Capital Partners LLC, acquired the publishing and entire share capital of Greencore US Holdings LLC, a Dover-based reproduction manufacturer of perishable prepared foods, from Greencore Group PLC, for an estimated USD 1.075 bil in cash. ENERGY AND POWER Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
12/03/18 Apple Valley Manufacture Gold Medal Kinderhook - US - Gold Medal Group LLC, a unit of Kinderhook Industries LLC, Waste Service Inc electric tarp sys Group LLC Industries LLC acquired Apple Valley Waste Service Inc, a Kearneysville-based provider of hazardous waste treatment and disposal services.
11/21/18 NJR Clean Energy Data Processing, Skyline Alleghany Corp 208.50 US - Skyline Renewables LLC, jointly owned by Ardian France Ventures-117 Hosting, and Renewables Llc SA and Transatlantic Holdings Inc, acquired 117 megawatt wind Related Services portfolio of NJR Clean Energy Ventures Corp, an Asbury Park- based alternative energy sources establishment, owned by NJR Energy Investments Corp, for an estimated USD 208.5 mil. FINANCIALS Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
12/03/18 Caribbean All Other Investor Group Investor Group - PUERTO RICO - An investor group, comprised of Bayboston Financial Group Rubber Product Managers LLC, M&A Capital Partners Co Ltd, Amzak Capital Manufacturing Management LLC, Insigneo Financial Group LLC, Elias Group LLP and Victory Park Capital Advisors LLC acquired Caribbean Financial Group, a Guaynabo-based provider of consumer lending services, from Irving Place Capital and other investors.
12/03/18 KBK Ins Grp Inc Software NSM Ins Grp Inc ABRY Partners - US - NSM Insurance Group Inc, a unit of ABRY Partners LLC, Publishers LLC acquired KBK Insurance Group Inc, a Harahan-based insurance agency.
11/16/18 ABN AMRO Wholesale Trade Investor Group Investor Group - NETHERLANDS - An investor group, comprised of AlpInvest Participaties BV Agents and Holding NV, a unit of NIBC NV, Five Arrows Secondary Brokers Opportunities, a unit of Rothschild Merchant Banking, Bregal Investments LLP, a unit of Bregal Milestone LLP and LGT Capital Partners AG acquired an undisclosed majority interest in ABN AMRO Participaties BV (ABN Participaties), an Amsterdam- based private equity firm, from ABN Amro Bank NV, ultimately owned by the Dutch state-owned ABN Amro Group NV. On completion, ABN Participaties was renamed Capital A.
11/16/18 SAREB-Loan Wireless Bain Capital Bain Capital LP 12.61 SPAIN - Bain Capital Credit LP of the US, a unit of Bain Capital Portfolio Telecommunications Credit LP LP, acquired loan portfolio of Sociedad de Gestion de Activos Carriers (Except Procedentes de la Reestructuracion Bancaria SA, a Madrid-based Satellite) investment advisor, for a total EUR 11. 13 mil (USD 12.606 mil). The deal was valued based on 7% market capitalization rate.
11/30/18 Clarus Ventures Provides cloud Blackstone Blackstone - US - Blackstone Group LP acquired Clarus Ventures LLC (Clarus), LLC media sharing Group LP Group LP a Cambridge-based financial sponsor, in a leveraged buyout services transaction. On completion, Clarus was renamed Blackstone Life Sciences.
12/03/18 Wells Fargo & Specialty (Except Flagstar MatlinPatterson - US - Flagstar Bank,FSB,Troy, Michigan, a unit of Flagstar Bancorp Co-Br(52) Psychiatric Bank,FSB,Troy,MI Global Inc,Troy, Michigan, acquired 52 branches of Wells Fargo & Co, and Substance a San Francisco- based commercial bank, ultimately owned by Abuse) Hospitals Wells Fargo & Co. 72 | BUYOUTS | December 24, 2018 www.buyoutsnews.com MARKET INTELLIGENCE
FINANCIALS Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/28/18 HSH Nordbank Other Scientific HSH Nordbank HSH Nordbank 1,223.10 GERMANY - HSH Nordbank SPV (HSH SPV) located of the UK, a special AG and Technical AG SPV AG SPV purpose acquisition vehicle led by Cerberus European Investments LLC Consulting (Cerberus), a unit of Cerberus Capital Management LP, and including Services BAWAG PSK Bank fuer Arbeit & Wirtschaft & Oesterreichische Postsparkasse AG, a unit of BAWAG Group AG, Centaurus Capital LP, JC Flowers & Co LLC (JC Flowers) and GoldenTree Asset Management LP acquired the remaining 94. 9% interest, which it did not already own, in HSH Nordbank AG (HSH), a Hamburg-based commercial bank, from the German state-owned Hsh Beteiligungs Management GmbH (Hsh Beteiligungs), for an estimated EUR 1 bil (USD 1. 223 bil), in cash, in a levered buyout transaction. Originally, in July 2017, HSH Beteiligungs was rumored to be seeking a buyer for HSH. HNA Group, Apollo Global Management, Cerberus and JC Flowers were rumored potential bidders. Concurrently, HSH SPV agreed to acquire Non- Performing Loans Portfolio of HSH.
11/29/18 AmTrust Biotechnology Evergreen Leah Karfunkel 1,446.66 US - Evergreen Partner LP (Evergreen), jointly owned by Stone Point Financial company Parent LP Capital LLC, George Karfunkel, Barry Zyskind and Leah Karfunkel, Services Inc acquired the remaining 49. 376% stake, or 96.952 mil common shares, which it did not already own, in AmTrust Financial Services Inc (AmTrust), a New York City- based direct property and casualty insurance carrier, for a twice sweetened USD 14. 75 in cash per share, or a total of USD 1.447 bil, in a leveraged buyout transaction via an unsolicited offer. Previously, Evergreen offered USD 13.5 in cash per share, or a total of USD 1.32 bil. Originally, Evergreen planned to launch an unsolicited tender offer to acquire AmTrust, for USD 12.25 in cash per share or a total value of USD 1.196 bil.
11/19/18 Karvy Software General Atlantic General Atlantic 84 INDIA - General Atlantic LLC of the US acquired a 50% interest in Karvy Computershare Publishers LLC LLC Computershare Pvt Ltd, a Hyderabad-based investment advisor, from its Pvt Ltd joint venture partner Karvy Consultants Ltd, for a total INR 6.046 bil (USD 84 mil), in a leveraged buyout transaction. Originally, in May 2017, an investor group, comprised of Blackstone Group LP and General Atlantic was rumored to be planning to acquire a 74% interest in Karvy Computershare. HEALTHCARE Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/27/18 SimplyWell Inc Electrical Virgin Pulse Inc Marlin Equity - US - Virgin Pulse Inc, a unit of Marlin Equity Partners LLC, Contractors Partners LLC acquired SimplyWell Inc, a Dallas-based wellness management company. No financial terms were disclosed.
11/26/18 SeraCare Life Other Electric LGC N America KKR & Co Inc - US - LGC North America Inc, a unit of LGC Ltd, acquired SeraCare Sciences Inc Power Inc Life Sciences Inc, a Milford-based manufacturer of biological Generation products, from Linden LLC. Terms were not disclosed.
11/20/18 ChoiceSpine LP Soil Preparation, Altus Capital Altus Capital - US - Altus Capital Partners LLC acquired ChoiceSpine LP, a Planting, and Partners LLC Partners LLC Knoxville-based manufacturer of surgical appliance and supplies, Cultivating in a leveraged buyout transaction. Terms were not disclosed.
11/20/18 E H C Medical Surgical Appliance Crossroads Revelstoke - US - Crossroads Holding LLC, a unit of Revelstoke Capital Partners Offices PLLC and Supplies Holding LLC Capital Partners LLC, acquired E H C Medical Offices PLLC, a Harriman-based Manufacturing health specialist's office operator.
11/19/18 Pac Biomarkers Electrical Ampersand Ampersand - US - Ampersand Capital Partners acquired Pacific Biomarkers, a Seattle- Contractors Capital Partners Capital Partners based medical laboratory operator, in a leveraged buyout transaction.
11/19/18 Ambrosia Offices Of Discovery Webster Capital - US - Discovery Behavioral Health, a unit of Webster Capital Treatment Physicians, Behavioral Management Management LLC, acquired Ambrosia Treatment Center (ATC), a Ctr,Medford Mental Health Health LLC Medford-based outpatient mental health and substance abuse center Specialists operator. On completion, ATC was renamed Pinelands Recovery Center.
11/16/18 United Seating & Other Electronic AEA Investors LP AEA Investors - US - AEA Investors LP acquired United Seating & Mobility LLC, a Rocky Mobility LLC Parts and LP Hill- based manufacturer of surgical appliance and supplies, from Equipment Assistive Technology Group Inc, ultimately owned by Audax Group LP, in Merchant a leveraged buyout transaction. Originally, in September 2018, AEA was Wholesalers rumored to be planning to acquire United Seating & Mobility. www.buyoutsnews.com December 24, 2018 | BUYOUTS | 73 MARKET INTELLIGENCE
HEALTHCARE Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/16/18 ABA of North Produce, Pharos Capital Pharos Capital - US - Pharos Capital Group LLC acquired ABA of North Texas LLC, a Texas LLC wholesale candy Group LLC Group LLC Plano-based owner and operator of behavioral services centers, in a leveraged buyout transaction.
11/27/18 Corium Game, Toy, Gurnet Point Waypoint 472.40 US - Gurnet Point Capital Ltd (Gurnet), a unit of Waypoint International Inc and Children'S Capital Ltd Capital Partners Capital Partners LLC, acquired the entire share capital of Corium Vehicle LLC International Inc (Corium), a Menlo Park-based manufacturer Manufacturing of pharmaceutical preparation, from Essex Woodlands HealthVentures, in a leveraged buyout transaction for USD 12.5 in cash per share or a total USD 484.519 mil, via tender offer. Earlier, Gurnet completed its tender offer for Corium by accepting 31.578 mil, or 86. 21% of Corium's common shares outstanding. The offer was conditioned upon at least majority of shares being tendered.
11/16/18 LifePoint Health Medical RCCH Healthcare Apollo Global 5,358.84 US - RCCH Healthcare Partners, a unit of Apollo Global Management Inc Laboratories Partners Management LLC (Apollo), merged with LifePoint Health Inc (LifePoint), a LLC Brentwood- based hospital operator and owner, for USD 65 in cash per share, or a total value of USD 2.574 bil. On completion, the combined entity was named LifePoint Health. Originally, in July 2018, Apollo was rumored to be planning to acquire the entire share capital of LifePoint. HIGH TECHNOLOGY Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
12/04/18 Orchestra SA Outpatient TIBCO Software Vista Equity - FRANCE - TIBCO Software Inc of the US (TIBCO), a unit of Mental Health Inc Partners LLC Vista Equity Partners LLC, acquired Orchestra SA (Orchestra), a and Substance Paris-based provider of data processing and hosting services, Abuse Centers from Elaia Partners SAS. Terms were not disclosed. Originally, in December 2018, TIBCO was rumored to be acquiring Orchestra.
11/30/18 PEC Safety Clay and Ceramic Thoma Bravo Thoma Bravo - US - Thoma Bravo LLC acquired an undisclosed majority interest Operations LLC and Refractory LLC LLC in PEC Safety Operations LLC, a Mandeville- based software Minerals Mining publisher, in a leveraged buyout transaction.
11/30/18 Q-Centrix Llc Internet TPG Growth LLC TPG Capital LP - US - TPG Growth LLC, a unit of TPG Capital LP, acquired Q- Centrix Publishing and LLC, a Portsmouth- based provider of data processing and Broadcasting hosting services, from Sterling Capital Ltd, in a leveraged buyout and Web Search transaction. Terms were not disclosed. Portals
11/29/18 Barometric Inc Private equity Claritas LLC The Carlyle - US - Claritas LLC, a unit of Claritas LLC SPV, acquired Barometric firm Group LP Inc, a New York City-based software publisher.
11/28/18 Shift Media Hldg Surgical Marlin Equity Marlin Equity - US - Marlin Equity Partners LLC acquired an undisclosed majority Inc Appliance Partners LLC Partners LLC interest in Shift Media Holdings Inc, a Los Angeles-based and Supplies software publisher, in a leveraged buyout transaction. Manufacturing
11/22/18 Rapidata Household Access UK Ltd TA Associates - UK - Access UK Ltd, a unit of TA Associates Management LP, Services Ltd Refrigerator and Management LP acquired Rapidata Services Ltd, a Crawley-based software Home Freezer publisher. Manufacturing
11/19/18 Microcel Corp Prefabricated Atar Capital LLC Atar Capital LLC - CANADA - Atar Capital LLC of the US acquired Microcel Corp, a Wood Building Newmarket-based electronic parts and equipment merchant Manufacturing wholesaler, in a leveraged buyout transaction.
11/16/18 Protected Mnfr process SolarWinds Inc Silver Lake - GERMANY - SolarWinds Inc of the US, a unit of SolarWinds Inc Networks GmbH equip Management SPV, acquired Protected Networks GmbH, a Berlin-based software LLC publisher.
11/26/18 Vector Solutions All Other Golden Gate Golden Gate - US - Golden Gate Capital Inc acquired Vector Solutions Inc, a Inc Outpatient Care Capital Inc Capital Inc Tampa-based software publisher, from Providence Equity Partners Centers LLC, in a leveraged buyout transaction. 74 | BUYOUTS | December 24, 2018 www.buyoutsnews.com MARKET INTELLIGENCE
INDUSTRIALS Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
12/03/18 Aircraft Sales Financing Liberty Hall Liberty Hall - US - Liberty Hall Capital Partners LP acquired Aircraft Performance Performance Capital Partners Capital Partners Group Inc, a Castle Rock-based provider of commercial transportation Grp Inc equipment rental and leasing services, in a leveraged buyout transaction.
11/30/18 Roll-Rite LLC Software Safe Fleet Oak Hill Capital - US - Safe Fleet Holdings LLC, a unit of Oak Hill Capital Partners LP, Publishers Holdings LLC Partners LP acquired Roll- Rite LLC, a Gladwin-based manufacturer of electric tarp systems and components for the trucking industry, from Argosy Capital and Capital Partners Inc.
11/30/18 INSUL-TAB Inc Software Pexco LLC AEA Investors - US - Pexco LLC, a unit of AEA Investors LP, acquired INSUL- TAB Publishers LP Inc, a Woburn-based manufacturer of rubber products.
11/21/18 Logsys Power Ice Cream and Osmose Utilities Kohlberg & Co - AUSTRALIA - The US state- owned Osmose Utilities Services Inc, a Svcs Pty Ltd Frozen Dessert Services Inc LLC unit of Osmose Holdings Inc, acquired Logsys Power Services Pty Manufacturing Ltd, a Joondalup-based electrical contractor, from Logsys Pty Ltd.
11/20/18 White Perishable Congruex LLC Crestview - US - Congruex LLC, a unit of Crestview Partners LP, acquired Construction Prepared Food Partners LP White Construction Co Inc, a Beaver Dam-based provider of Co Inc Manufacturing telecommunication contracting services. Terms were not disclosed.
11/16/18 Vesta Housing Pharmaceutical Balmoral Funds Balmoral - US - Balmoral Funds LLC, a unit of Balmoral Advisors LLC, acquired an Solutions LLC Preparation LLC Advisors LLC undisclosed majority interest in Vesta Housing Solutions LLC, a Birmingham- Manufacturing based manufacturer of modular building solutions, from Soaring Pine Capital Growth Fund I, ultimately owned by Simon Group Holdings LLC and Wells Fargo Central Pacific Holdings Inc. Terms were not disclosed.
11/16/18 CPM Holdings Inc Mnfr industrial American American - US - American Securities LLC acquired CPM Holdings Inc (CPM), a bldg Securities LLC Securities LLC Waterloo-based manufacturer of industrial machinery, from Gilbert Global Equity Partners LP (GGEP), in a secondary buyout transaction. Terms were not disclosed. Originally, GGEP acquired CPM.
11/19/18 Prefabricados Venture Consolis SAS Bain Capital LP - SPAIN - Consolis SAS of France, a unit of Consolis Group SA, Tecnyconta SL capital,private acquired Prefabricados Tecnyconta SL, a Zaragoza-based equity firm manufacturer of prefabricated metal buildings and components, from Mabo Prefabbricati SpA. Terms were not disclosed. MATERIALS Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/19/18 Active Minerals Own,operate Golden Gate Golden Gate - US - Golden Gate Capital Inc acquired Active Minerals Intl Llc hotel Capital Inc Capital Inc International LLC, a Sparks- based clay, ceramic and refractory minerals mine operator, in a leveraged buyout transaction. MEDIA AND ENTERTAINMENT Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/18/18 Bobit Business Provides Gemspring Gemspring - US - Gemspring Capital LLC acquired Bobit Business Media Inc, Media Inc web content Capital LLC Capital LLC a Torrance-based digital media company, in a leveraged buyout management transaction. services
11/20/18 Tifco Ltd General Medical Apollo Global Apollo Global - IRELAND - Apollo Global Management LLC of the US acquired Tifco Ltd and Surgical Management Management (Tifco), a Dublin-based hotel operator, from Goldman Sachs International Hospitals LLC LLC Ltd, ultimately owned by Goldman Sachs Group Inc (Gold), The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at estimated EUR 204 mil (USD 237.13 mil), in a leveraged buyout transaction. Originally, in September 2017, Gold, announced that it was seeking a buyer for its Tifco unit. Apollo Global Management LLC was named rumored potential bidders.
11/27/18 Episerver Inc Savings Insight Venture Insight Venture 1,100.00 US - Insight Venture Partners LLC acquired Episerver Inc, a Nashua-based Institutions Partners LLC Partners LLC provider of custom computer programming services, from EPiServer Group AB, owned by Accel-KKR LLC, for USD 1.1 bil, in a leveraged buyout transaction. www.buyoutsnews.com December 24, 2018 | BUYOUTS | 75 MARKET INTELLIGENCE
REAL ESTATE Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
12/05/18 Elliot Develops The Sterling The Sterling 11.65 US - The Sterling Organization LLC acquired Elliot Plaza, a Seattle- Plaza,Seattle,WA IP-based Organization LLC Organization based owner and operator of a shopping center, for a total USD communications LLC 11.65 mil, in a leveraged buyout transaction. software
12/04/18 Undisclosed Commercial Kingdom III Sub Blackstone 24.27 AUSTRALIA - Kingdom III Sub TC Pty Ltd, a unit of Blackstone Real Industrial Banking TC Pty Ltd Group LP Estate Partners LP, acquired 2 Undisclosed Industrial Facillities located in Melbourne and Sydney for a total AUD 33 mil (USD 24.272 mil). TELECOMMUNICATIONS Date Target Name Target Short Acquiror Full Acquiror Ranking Value Synopsis Effective/ Business Name Ultimate Parent inc. Net Debt of Unconditional Description Target ($Mil)
11/28/18 Diem Tech Srl Direct Property Lutech SpA OEP Parent LLC - ITALY - Lutech SpA, a unit of One Equity Partners LLC, acquired and Casualty the entire share capital of Diem Technologies Srl, a Genoa-based Insurance wireless telecommunications carrier, from B-Invest SpA. Carriers
11/30/18 Mitel Networks Investment Investor Group Investor Group 2,030.86 CANADA - An investor group, led by Searchlight Capital Partners LP, Corp management acquired the entire share capital of Mitel Networks Corp, a Kanata- services based manufacturer of wireless communications equipment, for CAD 14.324 (USD 11.15) in cash per share, or a total value of CAD 1.889 bil (USD 1. 471 bil) in cash, in a leveraged buyout transaction. RECENT TRANSACTIONS Non-Control Deals, U.S. Sponsors (November 16, 2018 - December 5, 2018) CONSUMER PRODUCTS AND SERVICES Rank Target Name Target Short Target Acquiror Full Acquiror Ranking Value Synopsis Date Business Advisers Name Ultimate Parent inc. Net Debt of Description Target ($Mil)
12/04/18 V3 Group Ltd Institutional Evercore KKR Asian KKR & Co Inc 365.82 SINGAPORE - KKR Asian Fund III LP of the US, a unit Furniture Partners Fund III LP of Kohlberg Kravis Roberts & Co LP, ultimately owned Manufacturing by KKR & Co Inc, planned to acquire an undisclosed minority stake in V3 Group Ltd, manufacturer of institutional furniture, a unit of Vision Three Ltd, for an estimated SGD 500 mil (USD 365.818 mil), in a privately negotiated transaction.
11/28/18 Cyber Global Risk Security Systems - Investor Investor Group 30.00 US - An investor group, comprised of Allegis Capital, Exchange Inc Services (Except Group Bessemer Venture Partners LP, Blackstone Group LP, Locksmiths) MassMutual Ventures LLC, a unit of Massachusetts Mutual Life Insurance Co, GV Management Co LLC, a unit of Google Inc, Aetna Ventures LLC, a unit of Aetna Inc, ClearSky Power & Technology Investments LLC, Teneleven Ventures and Scale Venture Partners II LP acquired an undisclosed minority stake in Cyber Global Risk Exchange Inc, a Denver-based provider of security systems services, for a total USD 30 mil, in a privately negotiated transaction.
11/26/18 Perse Beauty Inc Manufactures hair - Investor Investor Group 18.00 US - An investor group, comprised of Insight Venture products Group Partners LLC, Forerunner Ventures LLC, Isai Gestion SAS, Lerer Hippeau Ventures and Correlation Ventures LP acquired an undisclosed minority stake in PerSe Beauty Inc, a New York City- based manufacturer of toilet preparations, for a total USD 18 mil, in a privately negotiated transaction. 76 | BUYOUTS | December 24, 2018 www.buyoutsnews.com MARKET INTELLIGENCE
CONSUMER PRODUCTS AND SERVICES Rank Target Name Target Short Target Acquiror Full Acquiror Ranking Value Synopsis Date Business Advisers Name Ultimate Parent inc. Net Debt of Description Target ($Mil)
11/26/18 GOQii Inc Sporting and - Investor Investor Group - US - An investor group, comprised of Galaxy Digital Athletic Goods Group LP, Trifecta Capital Advisors Llp, Mitsui & Co Ltd, New Manufacturing Enterprise Associates Inc, DSG Consumer Partners, Denlow Investment Trust, Ratan Tata and Vijay Shekhar Sharma acquired an undisclosed minority stake in GOQii Inc, a Menlo Park-based manufacturer of sporting and athletic goods, in a privately negotiated transaction. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at USD 35 mil.
11/20/18 Stilla Research and - Investor Investor Group 18.32 FRANCE - An investor group, comprised of Idinvest Technologies Development in Group Partners SA, a unit of Eurazeo SE, BNP Paribas Biotechnology Developpement SA, a unit of BNP Paribas SA, Kurma Partners SA, IIF Management Co LLC, LBO France SARL and Paris Saclay Seed Fund acquired an undisclosed minority stake in Stilla Technologies SAS, a Villejuif- based provider of biotechnology research and development services, for a total EUR 16 mil (USD 18.322 mil), in a privately negotiated transaction.
11/19/18 Raptor Security Systems Raymond JMI Equity Inc JMI Equity Inc - US - JMI Equity Inc acquired an undisclosed minority stake in Technologies LLC Services (Except James & Raptor Technologies LLC, a Houston-based provider of security Locksmiths) Associates Inc systems services, in a privately negotiated transaction. ENERGY AND POWER Rank Target Name Target Short Target Acquiror Full Acquiror Ranking Value Synopsis Date Business Advisers Name Ultimate Parent inc. Net Debt of Description Target ($Mil)
11/28/18 ChargePoint Inc Power, Distribution, Morgan Investor Investor Group 240.00 US - An investor group, comprised of American Electric and Specialty Stanley Group Power Co Inc, Canada Pension Plan Investment Board, Transformer Chevron Technology Ventures LLC, a unit of Chevron Manufacturing Corp, GIC Pte Ltd, a unit of the Singaporean state-owned Singapore, Braemar Energy Ventures LP, Siemens AG, BMW i Ventures Inc, a unit of Bayerische Motoren Werke AG, Linse Capital LLC, Quantum Energy Partners LLC, Daimler Trucks & Buses US Holding Inc, a unit of Daimler AG and ClearVision Equity Partners LLC acquired an undisclosed minority stake in ChargePoint Inc, a Campbell-based electric vehicle charging network company, for a total USD 240 mil, in a privately negotiated transaction. FINANCIALS Rank Target Name Target Short Target Acquiror Full Acquiror Ranking Value Synopsis Date Business Advisers Name Ultimate Parent inc. Net Debt of Description Target ($Mil)
11/27/18 Massdrive Ins Insurance Agencies - Investor Investor Group - US - An investor group, comprised of Edgewood Grp LLC and Brokerages Group Partners Insurance Center, a unit of Oak Hill Capital Partners LP, Motive Partners GP LLC and Wafra Partners LLC acquired an undisclosed minority stake in MassDrive Insurance Group LLC, a Boston- based insurance agency, in a privately negotiated transaction.
11/19/18 Plastiq Inc Financial - Investor Investor Group 27.00 US - An investor group, comprised of Kleiner Perkins Transactions Group Caufield & Byers LLC and DST Global acquired an Processing, undisclosed minority stake in Plastiq Inc, a San Reserve, and Francisco- based provider of financial transactions Clearinghouse services, for a total USD 27 mil. Activities www.buyoutsnews.com December 24, 2018 | BUYOUTS | 77 MARKET INTELLIGENCE
HIGH TECHNOLOGY Rank Target Name Target Short Target Acquiror Full Acquiror Ranking Value Synopsis Date Business Advisers Name Ultimate Parent inc. Net Debt of Description Target ($Mil)
12/05/18 Nuorder Inc Software Publishers - Investor Investor Group 15.00 US - An investor group, comprised of NewSpring Group Capital Inc, Upfront Ventures and Argentum Group, acquired an undisclosed minority stake in NuORDER Inc, a West Hollywood-based software publisher, for a total USD 15 mil, in a privately negotiated transaction.
12/03/18 Shanghai Keking Software Publishers - Investor Investor Group 143.77 CHINA - An investor group, comprised of Tebon Xinda Tech Group Securities Co Ltd, a unit of Shanghai Xingye Investment & Development Co Ltd, Ant Small & Micro Financial Services Group Co Ltd, Centurium Capital, Sequoia Capital China, a unit of Sequoia Capital Operations LLC and Shanghai Tenglan Industry Co Ltd acquired an undisclosed minority stake in Shanghai Keking Xinda Technology Group Co Ltd, a Shanghai-based software publisher, for a total CNY 1 bil (USD 143.765 mil), in a privately negotiated transaction.
11/27/18 Eko Software Publishers - Investor Investor Group 20.00 THAILAND - An investor group, comprised of East Ventures, Communications Group SMD Ventures LLC, Redbeat Ventures, a unit of AirAsia Bhd Inc and Gobi Partners Inc acquired an undisclosed minority stake in Eko Communications Inc, a Bangkok- based software publisher, for a total THB 660.589 mil (USD 20 mil), in a privately negotiated transaction.
11/23/18 Samast Internet Publishing - Investor Investor Group 20.00 INDIA - An investor group, comprised of Lightspeed Technologies and Broadcasting Group Venture Partners, Jeremy Liew and Ravi Mhatre Pvt Ltd and Web Search acquired an undisclosed minority stake in Samast Portals Technologies Pvt Ltd, a Gurgaon-based internet portal operator, for a total INR 1.414 bil (USD 20 mil) in cash, in a privately negotiated transaction.
11/20/18 Cropin Tech Software - Investor Investor Group 8.10 INDIA - An investor group, comprised of Bill & Solutions Pvt Ltd Reproducing Group Melinda Gates Foundation and Chiratae Ventures acquired an undisclosed minority stake in Cropin Technology Solutions Pvt Ltd, a Bengaluru-based reproducer of software, for a total INR 580 mil (USD 8.1 mil), in a privately negotiated transaction. INDUSTRIALS Rank Target Name Target Short Target Acquiror Full Acquiror Ranking Value Synopsis Date Business Advisers Name Ultimate Parent inc. Net Debt of Description Target ($Mil)
11/28/18 Telexistence Inc All Other Industrial - Investor Investor Group - JAPAN - An investor group, comprised of DEEPCORE Inc, a Machinery Group unit of SoftBank Group Corp, KDDI Open Innovation Fund, Manufacturing led by Global Brain Corp, Japan Science & Technology Agency{JST}, GB-VI Growth Fund Investment LP, led by Global Brain Corp, Monoful Inc, Maeda Corp, Airbus Ventures, Mizuho Capital Co Ltd and Kyoso Platform Kaihatsu 1 Go Toshi Jigyo Yugen Sekinin Kumiai, led by UTokyo Innovation Platform Co Ltd, ultimately owned by University of Toky, acquired an undisclosed minority stake in Telexistence Inc, a Minato- Ku, Tokyo-based manufacturer of industrial machinery, in a privately negotiated transaction. 78 | BUYOUTS | December 24, 2018 www.buyoutsnews.com MARKET INTELLIGENCE
MATERIALS Rank Target Name Target Short Target Acquiror Full Acquiror Ranking Value Synopsis Date Business Advisers Name Ultimate Parent inc. Net Debt of Description Target ($Mil)
11/26/18 Archean Chem All Other - India Bain Capital LP 156 INDIA - India Resurgence Fund LP (IndiaRF), jointly Inds Pvt Ltd Miscellaneous Resurgence owned by Bain Capital Credit LP and Piramal Enterprises Chemical Product Fund LP Ltd, acquired an undisclosed minority stake in Archean and Preparation Chemical Industries Pvt Ltd (Archean Chemical), a Manufacturing Chennai- based manufacturer of chemical products, a unit of Archean Group, owned by KKR & Co LP, for a total INR 11.022 bil (USD 156 mil), in a privately negotiated transaction. Originally, in June 2018, IndiaRF was rumored to be planning to acquire a 30% stake in Archean Chemical. The terms of the transaction were not disclosed, but according to sources close to the transaction, the deal had a value estimated at INR 8 bil (USD 119.424 mil). RETAIL Rank Target Name Target Short Target Acquiror Full Acquiror Ranking Value Synopsis Date Business Advisers Name Ultimate Parent inc. Net Debt of Description Target ($Mil)
11/19/18 Foodtastic Inc Owns,operates - Restaurant Oaktree Capital 35.76 CANADA - Restaurant Royalty Partners Srl of Luxembourg, restaurants Royalty Group LLC jointly owned by Oaktree Capital Management LP and Partners Srl JHR Capital LLC, acquired an undisclosed minority stake in Foodtastic Inc, a Saint- Laurent-based full-service restaurant operator, for a total CAD 47 mil (USD 35.76 mil), in a privately negotiated transaction. EXITS U.S. Sponsor Sales Via M&A (November 16, 2018 - December 5, 2018) CONSUMER PRODUCTS AND SERVICES Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
12/05/18 Dakine Hawaii Inc- Altamont Capital JR286 Inc - US - JR286 Inc acquired operating assets of Dakine Hawaii Inc, a Hood River- Operating Assets Partners LLC based manufacturer of sporting and athletic goods, ultimately owned by Altamont Capital Partners LLC.
11/20/18 Global Franchise Levine Leichtman Cap Undisclosed - US - Levine Leichtman Capital Partners Inc divested Global Franchise Group LLC, an Group LLC Ptnrs Inc Acquiror Atlanta-based strategic brand management company, to an undisclosed acquiror.
11/19/18 PlayMonster LLC Topspin Partners Audax Group - US - Audax Group LP acquired PlayMonster LLC, a Beloit- based manufacturer LP of toys, from Topspin Partners, in a leveraged buyout transaction.
12/03/18 Red Hawk Fire & Commonwealth Assoc ADT Inc 317.50 US - ADT Inc definitively acquired Red Hawk Fire & Security LLC, a Boca Raton- based Security LLC Grp Hldgs provider of security systems services, from ComVest Investment Partners, ultimately owned by Commonwealth Associates Group Holdings LP, for USD 317.5 mil in cash.
11/27/18 KidsFoundation HIG Capital LLC Investor 172.00 NETHERLANDS - An investor group, led by Onex Corp and comprised of Onex Partners Holdings BV Group V LP and Onex Partners IV LP, units of Onex Partners LP, acquired KidsFoundation Holdings BV, an Almere-based provider of child day care services, from Hig Capital LLC, for a total EUR 151.863 mil (USD 172 mil), in a leveraged buyout transaction. CONSUMER STAPLES Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/19/18 Pearson's Candy Co Brynwood Partners LP Spell Capital - US - Spell Capital Partners LLC acquired Pearson's Candy Co, a St Paul-based Partners LLC manufacturer of chocolate and confectionery, in a leveraged buyout transaction.
11/20/18 Noosa Yoghurt LLC Advent International Sovos Brands - US - Sovos Brands Intermediate Inc, a unit of Advent International LLC, acquired Corp Intermediate the entire share capital of Noosa Yoghurt LLC, a Bellvue-based manufacturer of Inc frozen desserts, from Advent International Corp. www.buyoutsnews.com December 24, 2018 | BUYOUTS | 79 MARKET INTELLIGENCE
ENERGY AND POWER Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/21/18 Mianchi Hongwei KKR & Co Inc Zhu Linmin 1.14 CHINA - Zhu Linmin acquired a 55% interest in Mianchi Hongwei Co Ltd, a Co Ltd Sanmenxia- based provider of hazardous waste treatment and disposal services, from CITIC Envirotech Ltd, a unit of CENVIT (Cayman) Co Ltd, ultimately owned by the Chinese state-owned CITIC Corp Ltd, for a total CNY 7. 88 mil (USD 1.135 mil) in cash. FINANCIALS Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/20/18 Hub International Hellman & Friedman Altas Partners - US - Altas Partners LP of Canada acquired an undisclosed minority stake in Ltd LLC LP Hub International Ltd, a Chicago-based insurance agency, a unit of Hellman & Friedman LLC, in a privately negotiated transaction. Terms were not disclosed.
11/30/18 Clarus Ventures LLC Blackstone Group LP Blackstone - US - Blackstone Group LP acquired Clarus Ventures LLC (Clarus), a Cambridge- Group LP based financial sponsor, in a leveraged buyout transaction. On completion, Clarus was renamed Blackstone Life Sciences.
11/19/18 Karvy General Atlantic LLC General 84 INDIA - General Atlantic LLC of the US acquired a 50% interest in Karvy Computershare Pvt Computershare Atlantic LLC Ltd, a Hyderabad-based investment advisor, from its joint venture partner Karvy Consultants Pvt Ltd Ltd, for a total INR 6.046 bil (USD 84 mil), in a leveraged buyout transaction. Originally, in May 2017, an investor group, comprised of Blackstone Group LP and General Atlantic was rumored to be planning to acquire a 74% interest in Karvy Computershare. HEALTHCARE Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/26/18 SeraCare Life Linden LLC LGC North - US - LGC North America Inc, a unit of LGC Ltd, acquired SeraCare Life Sciences Sciences Inc America Inc Inc, a Milford-based manufacturer of biological products, from Linden LLC. Terms were not disclosed.
11/16/18 United Seating & Audax Group LP AEA Investors - US - AEA Investors LP acquired United Seating & Mobility LLC, a Rocky Mobility LLC LP Hill- based manufacturer of surgical appliance and supplies, from Assistive Technology Group Inc, ultimately owned by Audax Group LP, in a leveraged buyout transaction. Originally, in September 2018, AEA was rumored to be planning to acquire United Seating & Mobility.
11/27/18 Corium Essex Woodlands Gurnet Point 472.40 US - Gurnet Point Capital Ltd (Gurnet), a unit of Waypoint Capital Partners LLC, International Inc Health Capital Ltd acquired the entire share capital of Corium International Inc (Corium), a Menlo Park-based manufacturer of pharmaceutical preparation, from Essex Woodlands HealthVentures, in a leveraged buyout transaction for USD 12.5 in cash per share or a total USD 484.519 mil, via tender offer. Earlier, Gurnet completed its tender offer for Corium by accepting 31.578 mil, or 86. 21% of Corium's common shares outstanding. The offer was conditioned upon at least majority of shares being tendered. HIGH TECHNOLOGY Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/30/18 Q-Centrix LLC Sterling Capital Ltd TPG Growth - US - TPG Growth LLC, a unit of TPG Capital LP, acquired Q- Centrix LLC, a LLC Portsmouth- based provider of data processing and hosting services, from Sterling Capital Ltd, in a leveraged buyout transaction. Terms were not disclosed.
11/27/18 Mycom Group Ltd Reservoir Capital Inflexion - US - Inflexion Private Equity Partners LLP of the UK acquired Mycom Group Ltd, Group LLC Private Equity a Folsom-based software publisher, from Clearlake Capital Group LP, ultimately Partners LLP owned by Reservoir Capital Group LLC, in a leveraged buyout transaction. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at USD 128 mil.
12/03/18 Information New Mountain Capital Vestar Capital - US - Vestar Capital Partners Inc acquired an undisclosed minority stake in Resources Inc Group LLC Partners Inc Information Resources Inc, a Chicago- based software publisher, a unit of New Mountain Capital LLC, ultimately owned by New Mountain Capital Group LLC, in a privately negotiated transaction. 80 | BUYOUTS | December 24, 2018 www.buyoutsnews.com MARKET INTELLIGENCE
HIGH TECHNOLOGY Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/26/18 Vector Solutions Inc Providence Equity Golden Gate - US - Golden Gate Capital Inc acquired Vector Solutions Inc, a Tampa-based software Partners LLC Capital Inc publisher, from Providence Equity Partners LLC, in a leveraged buyout transaction.
12/03/18 Triton Digital Inc Vector Capital EW Scripps Co 150.00 US - EW Scripps Co acquired Triton Digital Inc, a Sherman Oaks-based software Management LP publisher, from Vector Capital Management LP, for USD 150 mil in cash.
11/16/18 IntraLinks Holdings Siris Capital Group LLC SS&C 1,500.00 US - SS&C Technologies Holdings Inc (SSNC) acquired IntraLinks Holdings Inc Inc Technologies (IntraLinks), a New York- based software publisher, from Siris Capital Group Holdings Inc LLC, for a total USD 1.5 bil. The consideration consisted of USD 1 bil in cash and issuance of common shares valued at USD 500 mil. Originally, SSNC was rumored to be planning to acquire Intralinks. INDUSTRIALS Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
12/05/18 Terratest Tecnicas Platinum Equity LLC Nazca Capital - SPAIN - Nazca Capital SGEIC SA acquired the entire share capital of Terratest Especiales SA SGEIC SA Tecnicas Especiales SA (Terratest), a Madrid-based provider of engineering services, from Platinum Equity LLC (Platinum) , in a secondary buyout transaction. Originally, Platinum acquired a 90% interest in Terratest.
11/30/18 Roll-Rite LLC Capital Partners Inc Safe Fleet - US - Safe Fleet Holdings LLC, a unit of Oak Hill Capital Partners LP, acquired Holdings LLC Roll- Rite LLC, a Gladwin-based manufacturer of electric tarp systems and components for the trucking industry, from Argosy Capital and Capital Partners Inc.
11/27/18 Spectro Scientific SFW Capital Partners AMETEK Inc 190 US - AMETEK Inc acquired Spectro Scientific Inc, a Chelmsford-based Inc LLC manufacturer of measuring, displaying and controlling variables instruments and related products, from SFW Capital Partners LLC, for an estimated USD 190 mil.
11/16/18 CPM Holdings Inc Gilbert Global Equity American - US - American Securities LLC acquired CPM Holdings Inc (CPM), a Waterloo- Partners Securities LLC based manufacturer of industrial machinery, from Gilbert Global Equity Partners LP (GGEP), in a secondary buyout transaction. Terms were not disclosed. Originally, GGEP acquired CPM.
11/30/18 Erickson Atlas Holdings LLC Asahi Kasei 106 US - Asahi Kasei Homes Corp of Japan, a unit of Asahi Kasei Corp, acquired Construction Co Inc Homes Corp Erickson Construction Co Inc, a Chandler-based framing contractor, from Atlas Holdings LLC, for a total USD 106 mil.
11/26/18 Firstmark Corp The Riverside Co BBA Aviation 97 US - BBA Aviation PLC of the UK acquired Firstmark Corp, a Richmond-based PLC manufacturer of aircraft parts and auxiliary equipment, from H-D Advanced Manufacturing Co, jointly owned by The Riverside Co, Hicks Equity Partners LLC and Weinberg Capital Group, for USD 97 mil. MATERIALS Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/26/18 Archean Chemical KKR & Co Inc India 156.00 INDIA - India Resurgence Fund LP (IndiaRF), jointly owned by Bain Capital Industries Pvt Ltd Resurgence Credit LP and Piramal Enterprises Ltd, acquired an undisclosed minority stake Fund LP in Archean Chemical Industries Pvt Ltd (Archean Chemical), a Chennai- based manufacturer of chemical products, a unit of Archean Group, owned by KKR & Co LP, for a total INR 11.022 bil (USD 156 mil), in a privately negotiated transaction. Originally, in June 2018, IndiaRF was rumored to be planning to acquire a 30% stake in Archean Chemical. The terms of the transaction were not disclosed, but according to sources close to the transaction, the deal had a value estimated at INR 8 bil (USD 119.424 mil). www.buyoutsnews.com December 24, 2018 | BUYOUTS | 81 MARKET INTELLIGENCE
MEDIA AND ENTERTAINMENT Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/27/18 Episerver Inc Accel Partners & Co Insight 1,100.00 US - Insight Venture Partners LLC acquired Episerver Inc, a Nashua-based Inc Venture provider of custom computer programming services, from EPiServer Group AB, Partners LLC owned by Accel-KKR LLC, for USD 1.1 bil, in a leveraged buyout transaction. RETAIL Date Target Name Target Ultimate Parent Acquiror Full Ranking Value Synopsis Effective Name inc. Net Debt of Target ($Mil)
11/20/18 Hojeij Branded Morgan Stanley Lagardere 330 US - Lagardere Travel Retail SASU of France, a unit of LAGARDERE MEDIA SAS, Foods Inc Travel Retail acquired the entire share capital of Hojeij Branded Foods Inc, an Atlanta-based SASU full-service restaurant operator, from Morgan Stanley Capital Partners VI LP, ultimately owned by Morgan Stanley, for USD 330 mil in cash.