The weekly wrap: 3M, Centerbridge, Carlyle

Target Acquirer Value ($millions) Synopsis MModal IP LLC-Technology Business 3M Co 1,000.0 3M Co definitively agreed to acquire the technology business of MModal IP LLC, a Franklin-based provider of data processing and hosting services, for$1 bil. Formica Corp Broadview Industries BV 840.0 Broadview Holding BV’s units Broadview Industries BV of Netherlands agreed to acquire Formica Corp, a Cincinnati-based surfacing products manufacturer, from Fletcher Building Ltd for$840 mil. The transaction would include the Formica businesses in North America, Europe, and Asia and Homapal metal laminates business. In April 2018, Fletcher Building announced that it was seeking a buyer for its Formica unit. Fidelity Southern Corp Ameris Bancorp 743.0 Ameris Bancorp definitively agreed to merge with Fidelity Southern Corp, an Atlanta-based bank holding company, via a stock swap transaction valued at$742.955 mil. Ameris offered 0.8 common share per Fidelity share. Based on Ameris’ closing stock price of$34.02 on 14 December 2018, the last full trading day prior to the announcement, each Fidelity share was valued at$27.216. Luxtera Inc Cisco Systems Inc 660.0 Cisco Systems Inc plans to acquire Luxtera Inc, a Carlsbad-based manufacturer of semiconductors and related devices, for$660 mil. In December 2018, Cisco is rumored to be planning to acquire Luxtera. Civitas Solutions Inc Centerbridge Partners LP 643.1 Centerbridge Partners LP definitively agreed to merge with Civitas Solutions Inc, a Boston-based provider of home and community health services, from Vestar Capital Partners Inc for$17.75 in cash per share or a total of$660.032 mil via a leveraged buyout transaction. In October 2018, Vestar Capital Partners was rumored to be seeking a buyer for the entire share capital of Civitas Solutions, with Res-Care Inc (BrightSpring Health Services) named as a potential bidder. TransCanada Corp-Coolidge Generating Station SWG Coolidge Holdings LLC 465.0 Southwest Generation Operating Co LLC’s unit SWG Coolidge Holdings LLC agreed to acquire Coolidge Generating Station of TransCanada Corp, a Calgary-based pipeline transportation services of natural gas, for about$465 mil. ARIAKE USA Inc Kerry Group PLC 369.2 Kerry Group PLC of Republic of Ireland agreed to acquire the entire share capital of ARIAKE USA Inc, a Harrisonburg-based manufacturer and wholesaler of natural seasoning, from Ariake Japan Co Ltd. Concurrently, Kerry Group agreed to acquire Southeastern Mills Inc. Both transactions are expected to have a combined value of$369.233 mil. Orbis Education Services Inc Grand Canyon Education Inc 362.5 Grand Canyon Education Inc definitively agreed to merge with Orbis Education Services Inc, a Carmel-based education services provider, for about$362.5 mil in cash. Circle K Stores Inc-Convenience & Fuel Retail Stores(192) CrossAmerica Partners LP-Convenience & Fuel Retail Stores(73) 184.5 CrossAmerica Partners LP definitively agreed to acquire the 192 convenience & fuel retail stores of Circle K Stores Inc, a Tempe-based convenience store operator ultimately owned by Alimentation Couche-Tard Inc, in exchange for 73 CrossAmerica convenience & fuel retail stores valued at$184.5 mil via an asset swap transaction. Ceterix Orthopaedics Inc Smith & Nephew PLC 105.0 Smith & Nephew PLC of the UK agreed to acquire Ceterix Orthopaedics Inc, a Fremont-based manufacturer of surgical appliance and supplies, for about$105 mil. The consideration would consist of$50 mil in cash and up to$55 mil in profit-related payments. Expressjet Airlines Inc-Certain Specified Assets & Liabilities United Airlines Inc 58.0 UAL Corp’s unit United Airlines Inc agreed to acquire certain specified assets & liabilities of Expressjet Airlines Inc, a Houston-based passenger airline owned by Atlantic Southeast Airlines Inc, for$58 mil in cash. Elektra Holding Co LLC Wintrust Financial Corp 51.9 Wintrust Financial Corp acquired Elektra Holding Co LLC, a Chicago-based provider of financial investment services, for about$51.9 mil. Blackbird Holdings Inc TILT Holdings Inc 50.0 TILT Holdings Inc of Canada plans to acquire Blackbird Holdings Inc, a Charlotte-based investment bank, for$50 mil. The consideration will consist of$5 mil in cash and$45 mil in common shares. CoalTech LLC Clean Invest Africa PLC 31.0 Clean Invest Africa PLC of the UK agreed to acquire the 97.5% remaining stake it does not already own in CoalTech LLC, a Wilmington-based provider of support services for coal mining, for$31 mil. Playwire LLC FreakOut Holdings Inc 29.5 FreakOut Holdings Inc of Japan plans to acquire a 75% stake in Playwire LLC, a provider of custom computer programming services, for$29.489 mil. Shelby JV LLC Scales Corp Ltd 23.2 Scales Corp Ltd of New Zealand agreed to acquire a 60% stake in Shelby JV LLC, an Amarillo-based manufacturer of dog and cat foods, for$23.2 mil. Smashburger Master LLC Bee Good! Inc 10.0 Bee Good! Inc of Philippines, a unit of Jollibee Worldwide Pte Ltd, ultimately owned by Jollibee Foods Corp, acquired the remaining 15% stake it did not already own in Smashburger Master LLC, a Denver-based full-service restaurant operator, from Black Shamrock Partners for$10 mil in cash. FleetPride Inc American Securities LLC American Securities LLC acquired FleetPride Inc, an Irving-based wholesaler of transportation equipment and supplies, from TPG Capital LP via a leveraged buyout transaction. Originally, on November 2018, American Securities was rumored to be planning to acquire FleetPride. Barclayhedge Ltd Backstop Solutions Group LLC Backstop Solutions Group LLC definitively agreed to acquire Barclayhedge Ltd, a Fairfield-based provider of administrative management and general management consulting services. GreenOak Real Estate Advisors LP Bentall Kennedy LP Sun Life Financial Inc’s unit Bentall Kennedy LP of Canada agreed merge with GreenOak Real Estate Advisors LP, a New York-based real estate services provider, from Tetragon Financial Group Ltd, ultimately owned by Polygon Credit Holdings II Ltd. Breakaway Holdings LLC-HomeVisit CoreLogic Inc CoreLogic Inc acquired HomeVisit of Breakaway Holdings LLC, a Chantilly-based provider of commercial gravure printing services. LightBound LLC DataBank Holdings Ltd Digital Bridge Holdings LLC’s unit DataBank Holdings Ltd acquired LightBound LLC, an Indianapolis-based provider of colocation, Internet, voice, network and cloud services. Integro Group Holdings LP Epic Holdings Inc Epic Holdings Inc agreed to acquire Integro Group Holdings LP, a New York-based insurance agency. Pfizer Inc-Consumer Health Care Division GlaxoSmithKline plc-Consumer Healthcare Business GlaxoSmithKline PLC (GSK) agreed to merge its consumer healthcare business with the consumer health care division of Pfizer Inc, a New York-based pharmaceutical products manufacturer, via a joint venture formation. Upon completion of the deal, GSK will own 68% and Pfizer the remaining 32% of the joint venture. Originally, in October 2017, Pfizer announced that it was seeking a buyer for its consumer health care division, via auction, with GlaxoSmithKline, Reckitt Benckiser, Procter & Gamble Co named as potential bidders. Southeastern Mills Inc Kerry Group PLC Kerry Group PLC of Republic of Ireland agreed to acquire Southeastern Mills Inc, a Rome-based producer and wholesaler of coatings and seasonings. Concurrently, Kerry Group agreed to acquire the entire share capital of ARIAKE USA Inc. Both transactions are expected to have a combined value of$369.233 mil. AAP St. Marys Corp Kosei Aluminum Co Ltd Kosei Aluminum Co Ltd of Japan plans to acquire the entire share capital of AAP St. Marys Corp, a St. Marys-based motor vehicle parts manufacturer, from Hitachi Metals America Ltd, owned by Hitachi Metals Ltd. Huffman LLC Optomec Inc Optomec Inc acquired Huffman LLC, a Clover-based manufacturer of welding and soldering equipment. Targeted Pet Treats Pestell Group Wind Point Partners LLC’s unit Pestell Group of Canada acquired Targeted Pet Treats, a Warren-based co-manufacturer of dental treats and long-lasting chews for pets. Whitford Corp PPG Industries Inc PPG Industries Inc definitively agreed to acquire Whitford Corp, an Elverson-based adhesives manufacturer. StandardAero Aviation Holdings Inc The Carlyle Group LP The Carlyle Group LP agreed to acquire StandardAero Aviation Holdings Inc, a Scottsdale-based provider of engine and airframe maintenance, repair and overhaul, engine component repair, and engineering services, from Veritas Capital Partners LP for around$5 bil. Originally, in October 2018, Veritas was rumored to be seeking a buyer for its StandardAero unit. McAfee LLC Thoma Bravo LLC Thoma Bravo LLC is rumored to be planning to acquire McAfee LLC, a Santa Clara-based software publisher, from TPG Capital LP and Intel Corp for around$4.2 bil via a leveraged buyout transaction. US M&A Deals Announced December 14 to 20, 2018 Source: Thomson Reuters