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Market Intelligence Recent Deals Deal Flow

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Market Intelligence Recent Deals Deal Flow 34 | BUYOUTS | January 7, 2019 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 (December 6, 2018 - December 19, 2018) FINANCIALS Date Target Name Target Target Target Full Business Description Target Synopsis Announced City State Advisors 12/13/18 WSFS Finl Corp- - DE 5 retail banking offices of WSFS - US - In December 2018, WSFS Financial Corp, a Wilmington- based Ret Bkg Financial Corp, located in the United commercial bank, announced that it was seeking a buyer for its 5 States. retail banking offices. MEDIA AND ENTERTAINMENT Date Target Name Target Target Target Full Business Description Target Synopsis Announced City State Advisors 12/14/18 Gray TV- - GA Broadcast television stations of Gray - US - In December 2018, Gray Television Inc (Gray), an Atlanta- Broadcast TV Television Inc, located in Georgia. based owner and operator of television broadcasting stations, Stations announced that it was seeking a buyer for its broadcast television stations in nine markets. The transaction was a condition to the completion of the acquisition of Raycom Media Inc by Gray. RECENT DEALS Announced, Pending LBOs By U.S. Sponsors (December 6, 2018 - December 19, 2018) CONSUMER STAPLES Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil) 12/12/18 Cholula Food Co Fruit and L Catterton L Catterton - US - L Catterton definitively agreed to acquire Cholula Food Co, a Vegetable Jersey City-based manufacturer of canned fruits and vegetables, in a Canning leveraged buyout transaction. Terms were not disclosed. FINANCIALS Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil) 12/17/18 Bkia SA-Non All Other Lone Star Fund XI LP Lone Star 242.99 SPAIN - Lone Star Fund XI LP of Bermuda, a unit of Lone Star Funds, Performing Loan Nondepository Funds through its subsidiaries agreed to acquire non performing loan Credit portfolio of Bankia SA, a Valencia-based commercial bank, owned by Intermediation BFA Tenedora de Acciones SA, for a total EUR 214.9 mil (USD 242.987 mil). The deal was valued based on a 7% market capitalization rate. 12/10/18 Banco Bpm Commercial Investor Group Investor 621.13 ITALY - An investor group, comprised of Credito Fondiario SpA (70%), a Spa-NPL Banking Group unit of Tages Holding SpA and Elliott Management Corp (30%), agreed to acquire non performing loans portfolio of Banco BPM SpA, a Milan- based commercial bank, for EUR 546 mil (USD 621.13 mil) in cash, based on 7% standard capitalization rate. Originally, in, November 2018, Banco BPM, a Milan-based commercial bank, announced that it was seeking a buyer for its non performing loans portfolio. Previously, in June 2018, Banco BPM, was rumored to be seeking a buyer for its non performing loans portfolio. Tpg, Cerberus, DoBank-Fortress, Fonspa, Crc, Davidson Kempner, Fire were named pottential bidders. www.buyoutsnews.com January 7, 2019 | BUYOUTS | 35 MARKET INTELLIGENCE HEALTHCARE Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil) 12/18/18 Civitas Solutions Home Health Centerbridge Centerbridge 1,338.26 US - Centerbridge Partners LP (Centerbridge Partners) definitively agreed Inc Care Services Partners LP Partners LP to merge with Civitas Solutions Inc (Civitas Solutions), a Boston- based provider of home and community health services, from Vestar Capital Partners Inc (Vestar Capital Partners), for USD 17.75 in cash per share, or a total value of USD 660.032 mil, in a leveraged buyout transaction. In October 2018, Vestar Capital Partners was rumored to seeking a buyer for the entire share capital of Civitas Solutions. Res-Care Inc (BrightSpring Health Services) was rumored as a potential bidder. 12/10/18 BrightSpring Provides home PharMerica Corp KKR & Co Inc - US - PharMerica Corp, a unit of Phoenix Parent Holdings Inc, agreed Health Services health care to acquire BrightSpring Health Services, a Louisville-based provider of services home health care services, from Onex Corp. Terms were not disclosed. HIGH TECHNOLOGY Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil) 12/13/18 ServiceMax Inc Develops Silver Lake Silver Lake - US - Silver Lake Management LLC agreed to acquire a 90% interest software Management LLC Management in ServiceMax Inc, a San Ramon-based provider of Field Service LLC Management Software, from GE Digital Energy(GE Power Systems), owned by GE Power Systems, in a leveraged buyout transaction. Terms were not disclosed. 12/12/18 Sparton Corp Manufacture Cerberus Capital Cerberus 253.87 US - Cerberus Capital Management LP definitively agreed to acquire electronics Management LP Capital the entire share capital of Sparton Corp (Sparton), a Schaumburg- Management based manufacturer of bare printed circuit boards, for USD 18.5 in LP cash per share, or a total USD 181.942 mil, in a leveraged buyout transaction. Upon completion, Sparton common shares were to be delisted from the New York Stock Exchange. 12/11/18 Vt Cnsld Inc Custom ConvergeOne Reservoir - US - ConvergeOne Holdings Inc, a unit of Clearlake Capital Group LP, Computer Holdings Inc Capital agreed to acquire Vt Consolidated Inc, a Ridgeland-based provider of Programming Group LLC custom computer programming services. Services 12/10/18 Veritone Inc Data Apis Ventures LLC Apis Capital 123.64 US - Apis Ventures LLC, a unit of Apis Capital Management LLC, Processing, Management planned to acquire the remaining 94.97% interest, which it did not Hosting, LLC already own, in Veritone Inc, a Costa Mesa-based provider of data and Related processing and hosting services, for USD 10. 26 in cash, or a total USD Services 188.325 mil, via an unsolicited offer. 12/10/18 Travelport All Other Travelport Siris Capital 4,666.29 UK - Travelport Worldwide Ltd SPV, a special purpose acquisition Worldwide Ltd Support Worldwide Ltd SPV Group LLC vehicle formed by Siris Capital Group LLC (Siris) and Evergreen Coast Activities For Capital Corp of the US, definitively agreed to acquire the entire share Transportation capital of Travelport Worldwide Ltd (Travelport), a Langley-based provider of travel payment processing service, from Elliott Management Corp (Elliott) (5. 34%) and other shareholders, for GBP 12.376 (USD 15.75) in cash per share, or a total GBP 1.640 bil (USD 2.069 bil), in a leveraged buyout transaction. Upon completion, Travelport's ordinary shares will be delisted from the New York Stock Exchange. Originally, in March 2018, Travelport was rumored to be seeking a buyer for the company. Siris and Elliott were rumored as potential bidders. 12/10/18 Netsmart Software Netsmart GI Partners - US - Netsmart Technologies Inc SPV, a special purpose acquisition Technologies Inc Publishers Technologies Inc LLP vehicle formed owned by GI Partners LLP and TA Associates SPV Management LP, definitively agreed to acquire Netsmart Technologies Inc, an Overland Park-based software publisher, from Nathan Holding LLC, jointly owned by GI Partners LLP and Allscripts Healthcare Solutions Inc, in an internal reorganization, via leveraged buyout. 12/06/18 Eroom Securities Data Dash Financial Gtcr LLC - US - Dash Financial Technologies LLC, a unit of Gtcr LLC, planned LLC Processing, Technologies LLC to acquire Eroom Securities LLC, a Chicago-based provider of data Hosting, processing and hosting services. and Related Services 36 | BUYOUTS | January 7, 2019 www.buyoutsnews.com MARKET INTELLIGENCE INDUSTRIALS Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil) 12/18/18 StandardAero Other Support The Carlyle Group LP The Carlyle - US - The Carlyle Group LP agreed to acquire StandardAero Aviation Aviation Activities Group LP Holdings Inc (StandardAero), a Scottsdale-based provider of engine Holdings For Air and airframe maintenance, repair and overhaul, engine component Transportation repair, and engineering services, from Veritas Capital Partners LP (Veritas). The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at USD 5 bil. Originally, in October 2018, Veritas was rumored to be seeking a buyer for its StandardAero unit. MATERIALS Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc. Net Debt of Description Parent Target ($Mil) 12/10/18 BWA Water Manufacture Italmatch Chemicals Bain Capital - UK - Italmatch Chemicals SpA of Italy, a unit of Bain Capital LP, Additives UK Ltd chemicals SpA LP planned to acquire BWA Water Additives UK Ltd, a Manchester-based manufacturer of chemical products, from Seera Investment Bank BSC, owned by the Bahraini state-owned Central Bank of Bahrain. Closed LBOs By U.S. Sponsors (December 6, 2018 - December 19, 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) 12/17/18 Targeted Pet Pharmaceutical Pestell Group Wind Point - US - Pestell Group of Canada, a unit of Wind Point Partners LLC, Treats Preparation Partners LLC acquired Targeted Pet Treats, a Warren-based producer of pet Manufacturing treats. Terms were not disclosed. 12/06/18 Tier One Produces pet Sun Capital Sun Capital - US - Sun Capital Partners Inc acquired Tier One Relocation LLC, Relocation LLC treats Partners Inc Partners Inc a Weirton-based provider of logistics consulting services, from Southfield Capital Advisors LLC, in a secondary buyout transaction.
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