The weekly wrap: CommScope, CVC, ResMed

Target Acquirer Value ($millions) Synopsis Arris International Plc CommScope Holding Co Inc 7,400.0 CommScope Holding Co Inc, a unit of Carlyle-CommScope Holdings LP, agreed to acquire the entire share capital of Arris International Plc, a Suwanee-based manufacturer of wireless communications equipment, for an estimated $7.4 billion. The consideration will consist of $31.75 in cash per share or a total of $5.725 billion and the assumption of estimated $1.675 billion in liabilities. Originally, Commscope is rumored to be planning to acquire the entire share capital of Arris. Western Gas Partners LP Western Gas Equity Partners LP 5,157.2 Western Gas Equity Partners LP (WGP), a unit of Anadarko Petroleum Corp, definitively agreed to acquire the remaining 67.15% interest or 102.477 million common LP units it does not already own in Western Gas Partners LP (WES), a provider of pipeline transportation services of natural gas based in The Woodlands, from Anadarko and other shareholders for $5.157 billion via a stock swap transaction. WGP offered 1.525 common LP units per WES common LP unit. Based on WGP’s closing stock price of $33 on 7 November 2018, each WES common LP unit was valued at $50.325. Anadarko Petroleum Corp-Midstream Assets Western Gas Partners LP 4,015.0 Western Gas Partners LP agreed to acquire the midstream assets of Anadarko Petroleum Corp, a producer of crude petroleum and natural gas based in The Woodlands, for $4.015 billion. The consideration will consist of $2.0075 billion in cash and $2.0075 billion worth of common shares. QEP Energy Co-Williston Basin assets Vantage Acquisition Operating Co LLC 1,711.5 Vantage Acquisition Operating Co LLC, a unit of Vantage Energy Acquisition Corp (VEAC), definitively agreed to acquire Williston Basin Assets of QEP Energy Co, a Denver-based producer of crude petroleum and natural gas ultimately owned by QEP Resources Inc, for an estimated $1.711 billion. The consideration will consist of $1.65 billion in cash and $61.48 million in profit-related payments. Jostens Inc Platinum Equity LLC 1,300.0 Platinum Equity LLC definitively agreed to acquire Jostens Inc, a Minneapolis-based manufacturer of jewelry for an estimated $1.3 billion in cash via a leveraged buyout transaction from Visant Corp, owned by Visant Holding Corp. Originally, in October 2018, Platinum was rumored to be planning to acquire Jostens. Pure Fishing Inc Sycamore Partners LLC 1,300.0 Sycamore Partners LLC definitively agreed to acquire Pure Fishing Inc, a Spirit Lake-based manufacturer of sporting and athletic goods, for an estimated $1.3 billion in cash via a leveraged buyout transaction from Jarden Corp, ultimately owned by Newell Brands Inc. Elite Comfort Solutions Inc Leggett & Platt Inc 1,250.0 Leggett & Platt Inc definitively agreed to acquire the entire share capital of Elite Comfort Solutions Inc, a Newnan-based manufacturer of foam products, from Arsenal Capital Partners LP for an estimated $1.25 billion in cash. Investment Technology Group Inc Virtu Financial Inc 1,002.4 Virtu Financial Inc definitively agreed to acquire the entire share capital of Investment Technology Group Inc, a New York City-based securities brokerage firm, for $30.3 in cash per share or a total of $1.002 bil. USAA Asset Management Co Victory Capital Holdings Inc 1,000.0 Victory Capital Holdings Inc, a unit of Crestview Partners II LP, definitively agreed to acquire USAA Asset Management Co, a San Antonio-based provider of investment management services, from United Services Automobile Association for $1 billion. The consideration consists of $850 million in cash and up to $150 million in profit-related payments. Veracode Inc Thoma Bravo LLC 950.0 Thoma Bravo LLC definitively agreed to acquire Veracode Inc, a Burlington-based software publisher, for $950 million in cash via a leveraged buyout transaction from CA Inc, ultimately owned by Broadcom Inc. ConvergeOne Holdings Inc CVC Capital Partners VII LP 946.7 CVC Capital Partners VII LP of the UK, a unit of CVC Capital Partners Ltd, definitively agreed to acquire the entire share capital of ConvergeOne Holdings Inc, an Eagan-based provider of information technology and managed services, from Clearlake Capital Group LP and other shareholders, ultimately owned by Reservoir Capital Group LLC, for $12.50 in cash per share or a total of $946.731 million via a leveraged buyout transaction. Originally, in October 2018, ConvergeOne was rumored to be seeking a buyer for the entire share capital of the company. MatrixCare Holdings Inc ResMed Inc 750.0 ResMed Inc definitively agreed to acquire the entire share capital of MatrixCare Holdings Inc, a Bloomington-based software publisher, from OMERS Private Equity Inc, ultimately owned by Ontario Municipal Employees Retirement System, for $750 mil. Quadrant Real Estate Advisors LLC-US Real Estate Debt Business AXA Real Estate Investment Managers SA 658.0 AXA Real Estate Investment Managers SA of France, a unit of AXA Investment Managers SA, agreed to acquire the debt fund business of Quadrant Real Estate Advisors LLC, an Atlanta-based investment advisor, for about $658 million. The deal was valued based on the 7% standard capitalization rate. Mankato Energy Center LLC Northern States Power Co 650.0 Northern States Power Co, a unit of Xcel Energy Inc, agreed to acquire Mankato Energy Center LLC, a Mankato-based electrical contractor, for an estimated $650 million in cash from Southern Power Co, ultimately owned by Southern Co. Concurrently, NSP acquired Mankato Energy Center II LLC. PeroxyChem LLC Evonik Industries AG 625.0 Germany-based Evonik Industries AG, a unit of RAG-Stiftung, agreed to acquire PeroxyChem LLC, a Philadelphia-based manufacturer of inorganic chemicals, for $625 million from One Equity Partners LLC, ultimately owned by OEP Parent LLC. Bojangles’ Inc Investor Group 617.2 An investor group, comprising The Jordan Co LP and Durational Capital Management LP, agreed to acquire the entire share capital of Bojangles’ Inc, a Charlotte-based fast food restaurant operator, from Advent International Corp for $16.1 in cash per share or a total of $617.21 million via a leveraged buyout transaction. Cooper-Standard Automotive Inc-Anti Vibration Systems Business ContiTech USA Inc 265.5 ContiTech USA Inc, a unit of ContiTech AG, definitively agreed to acquire anti vibration systems business of Cooper-Standard Automotive Inc, a manufacturer of automobiles ultimately owned by Cooper-Standard Holdings Inc, for $265.5 million in cash. CaseStack Inc Hub Group Inc 255.0 Hub Group Inc agreed to acquire CaseStack Inc, a Santa Monica-based provider of technology-enabled logistics platform, for $255 million in cash. Canyon Bakehouse LLC Flowers Foods Inc 205.0 Flowers Foods Inc definitively agreed to acquire Canyon Bakehouse LLC, a Johnstown-based gluten-free baking company, for $205 million. The consideration will consist of $200 million and up to $5 million in profit-related payments. Owens Realty Mortgage Inc Ready Capital Corp 185.8 Ready Capital Corp definitively agreed to merge with Owens Realty Mortgage Inc, a Walnut Creek-based lessor of real estate property, for $185.773 million via a stock swap transaction. Ready offered 1.441 new common shares for every Owens common share held, or a total of 12. 385 million new common shares. The shares were valued based on Ready’s closing stock price of $15 on 6 November 2018, the last full trading day prior to the announcement. Upon completion of the deal, Ready and Owens will respectively own 72% and 28% of the merged entity. The common shares of Owens will also be delisted and the merged entity will resume trading on the New York Stock Exchange under the ticker symbol RC. Movie Tavern Marcus Theatres Corp 126.0 Marcus Theatres Corp, a unit of Marcus Corp, agreed to acquire Movie Tavern, a Dallas-based motion picture theater operator, from VSS Southern Theatres LLC, ultimately owned by Veronis Suhler Stevenson Partners LLC, for an estimated $126 mil. Agility Fuel Solutions LLC Hexagon Composites Asa 124.2 Hexagon Composites Asa of Norway agreed to acquire the remaining 50% interest it did not already own in Agility Fuel Solutions LLC, a Costa Mesa-based manufacturer of measuring and controlling devices, for $124.2 mil. Genesis Systems Group IPG Photonics Corp 115.0 IPG Photonics Corp definitively agreed to acquire Genesis Systems Group, a Davenport-based manufacturer of robotic welding systems, for an estimated $115 million in cash. FPB Financial Corp First Bancshares Inc,Hattiesburg,MS 86.1 First Bancshares Inc in Hattiesburg, MS definitively agreed to merge with FPB Financial Corp, a Hammond-based commercial bank, for $86.143 million via a stock swap transaction. First offered 0. 83 common shares per FBP share. Based on First’s closing stock price of $37. 14 on 5 November 2018, the last full trading day prior to the announcement, each FBP share was valued at $30.826. Siena Apartments,Plantation,Florida Siena Apartments AL LP 62.0 Siena Apartments AL LP, a unit of American Landmark Apartments, paid $62 million to acquire Siena Apartments in Plantation from Fairfield Southern Pointe LLC, ultimately owned by Fairfield Residential LLC. Hidden Harbour Apartments,Royal Palm Beach,Florida American Landmark Apartments 43.5 American Landmark Apartments acquired Hidden Harbour Apartments in Royal Palm Beach from Fairfield Hidden Harbor LLC for $43.5 million. Theravance Biopharma Inc-VIBATIV Cumberland Pharmaceuticals Inc 25.0 Cumberland Pharmaceuticals Inc agreed to acquire VIBATIV of Theravance Biopharma Inc, a South San Francisco-based manufacturer of pharmaceutical preparations, for $25 mil. Martin Healthcare Group Hospitalists Now Inc 25.0 Hospitalists Now Inc acquired Martin Healthcare Group, a Cleveland-based hospital operator, for $25 million. Bridgewater Wholesalers Inc-Operating Assets Masonite International Corp 23.0 Masonite International Corp acquired operating assets of Bridgewater Wholesalers Inc, a Branchburg-based millwork wholesaler for $23 million. SharedLabs Inc Glowpoint Inc 19.3 Glowpoint Inc signed a letter intent to acquire the entire share capital of SharedLabs Inc, a Jacksonville-based software publisher, in exchange for issuance of 112.802 million common shares valued at $19.312 million. The shares were valued at closing stock price of $0.1712 on 02 November 2018, the last full trading day prior to the announcement. Toshiba America LNG Corp ENN Ecological Holdings Co Ltd 15.0 ENN Ecological Holdings Co Ltd of China agreed to acquire the entire share capital of Toshiba America LNG Corp, a Houston-based provider of transportation support services, for $15 million from Toshiba America Inc, ultimately owned by Toshiba Corp. Telerhythmics LLC G Medical Innovations USA Inc 2.0 G Medical Innovations USA Inc, a unit of G Medical Innovations Holdings Ltd, acquired the entire share capital of Telerhythmics LLC, a Collierville-based provider of cardiac monitoring services, from Digirad Corp for an estimated $1.95 million in cash. ANGLE North America Inc Angle PLC 0.6 Angle PLC of the UK agreed to acquire the remaining 9.47% stake it does not already own in ANGLE North America Inc, a King of Prussia-based diagnostic imaging center operator, from Georgi Hvichia for $0.606 mil. Intrigo Systems Inc Accenture PLC Accenture PLC of Republic of Ireland acquired Intrigo Systems Inc, a Fremont-based provider of computer facilities management services. General Electric Co-Gasification Business Air Products & Chemicals Inc Air Products & Chemicals Inc agreed to acquire the gasification business of General Electric Co, a Boston-based manufacturer and wholesaler of power generation, transmission, distribution and control equipment. Lubbock National Bank Amarillo National Bank Amarillo National Bank plans to acquire Lubbock National Bank, a Lubbock-based commercial bank. Current,powered by GE American Industrial Partners LP American Industrial Partners LP, a unit of American Industrial Partners Management Co Inc, plans to acquire Current, a Boston-based electrical contractor, from General Electric Co via a leveraged buyout transaction. John R. Sharry Inc Arthur J Gallagher & Co Arthur J Gallagher & Co acquired John R. Sharry Inc, an Auburn-based provider of health care consulting services. Erickson Construction Co Inc Asahi Kasei Homes Corp Asahi Kasei Homes Corp of Japan, a unit of Asahi Kasei Corp, definitively agreed to acquire Erickson Construction Co Inc, a Chandler-based framing contractor, from Atlas Holdings LLC. JS Clark Agency Inc AssuredPartners Inc AssuredPartners Inc, a unit of Apax Partners LP, plans to acquire JS Clark Agency Inc, a Southfield-based provider of insurance and pension funds administration services. Interactive Solutions Inc AVI-SPL Inc AVI-SPL Inc, a unit of Hig Capital LLC, acquired Interactive Solutions Inc, a Memphis-based provider of grade audio visual and videoconferencing systems integration and unified communications services. G&W Laboratories Inc-Extended Topicals & Dermatology Business Unit Avista Capital Holdings LP Avista Capital Holdings LP definitively agreed to acquire the extended topicals & dermatology business unit of G&W Laboratories Inc, a South Plainfield-based manufacturer and wholesaler of pharmaceutical products, via a leveraged buyout transaction. Audio Precision Inc Battery Ventures LP Battery Ventures LP acquired Audio Precision Inc (AP), a Beaverton-based manufacturer of audio and video equipment, from Hanover Partners Inc via a secondary buyout transaction. Originally, Hanover acquired AP in a primary buyout transaction. McNair Law Firm Burr & Forman LLP Burr & Forman LLP plans to acquire Columbia-based McNair Law Firm. Trojan Battery Co C&D Technologies Inc C&D Technologies Inc, a unit of KPS Capital Partners LP, agreed to acquire Trojan Battery Co, a Santa Fe Springs-based manufacturer of deep-cycle batteries, from Charlesbank Capital Partners LLC. O’Fallon Lakes Apartments Capreit Inc Capreit Inc acquired the O’Fallon Lakes Apartments. Concurrently, CAPREIT acquired Peine Lakes Apartments. Peine Lakes Apartments Capreit Inc Capreit Inc acquired Peine Lakes Apartments in Wentzville. Concurrently, CAPREIT acquired the O’Fallon Lakes Apartments. Clarfeld Financial Advisors Inc Citizens Bank National Association Citizens Bank National Association, a unit of Citizens Financial Group Inc, definitively agreed to acquire Clarfeld Financial Advisors Inc, a Tarrytown-based investment advisor. Bioagilytix Labs LLC Compagnie Benelux Participations SA Compagnie Benelux Participations SA of Belgium, a unit of Cobehold SA, agreed to acquire Bioagilytix Labs LLC, a Durham-based provider of molecule bioanalytical testing services, from Riverside Partners LLC and other shareholders, via a leveraged buyout transaction. Cozy Services Ltd Costar Group Inc Costar Group Inc has acquired Cozy Services Ltd, a Portland-based lessor of residential buildings and dwellings, for $68 mil. RIK Inc Drilling Tools International Drilling Tools International, a unit of Hicks Equity Partners LLC, acquired RIK Inc, a Casper-based provider of machinery and equipment rental and leasing services. Pinnacle Midstream LLC Eagleclaw Midstream Services LLC Eagleclaw Midstream Services LLC, a unit of Blackstone Energy Partners LP, acquired Pinnacle Midstream LLC, a Houston-based producer of crude petroleum and natural gas, from ISQ Global Infrastructure Fund II LP, ultimately owned by I Squared Capital Advisors LLC. CSI Enterprises Inc Edenred SA Edenred SA of France plans to acquire CSI Enterprises Inc, a Bonita Springs-based provider of financial transactions services. Northern Oak Wealth Management Inc First Midwest Bancorp Inc, Itasca,Illinois First Midwest Bancorp Inc in Itasca, Illinois plans to acquire Northern Oak Wealth Management Inc, a Milwaukee-based investment advisor. Condominium Concepts Management Inc FirstService Corp FirstService Corp of Canada acquired Condominium Concepts Management Inc, an Atlanta-based lessor of residential buildings and dwellings. Vector Solutions Inc Golden Gate Capital Inc Golden Gate Capital Inc definitively agreed to acquire Vector Solutions Inc, a Tampa-based provider of eLearning and software as a service performance support services, from Providence Equity Partners LLC, via a leveraged buyout transaction. Radix Wire Co Inc High Road Capital Partners Fund II LP High Road Capital Partners Fund II LP, a unit of High Road Capital Partners LLC, acquired Radix Wire Co Inc, a Euclid-based manufacturer of high-temperature and fire-resistant wires and cables. Insurance Management Associates LLC Hub International Ltd Hub International Ltd, a unit of Hellman & Friedman LLC, acquired Insurance Management Associates LLC, an Annapolis-based insurance agency. Coleman Floor Co Inc Interior Logic Group Inc Interior Logic Group Inc, a unit of Platinum Equity LLC, acquired Coleman Floor Co Inc, a Schaumburg-based flooring contractor, from Stock Building Supply, owned by Stock Building Supply Holdings Inc. IDI Logistics LLC Ivanhoe Cambridge Inc Ivanhoe Cambridge Inc of Canada, a unit of Caisse De Depot Et Placement Du Quebec, is rumored to be planning to acquire IDI Logistics LLC, an Atlanta-based provider of land subdivision services, from Brookfield Property Partners LP, ultimately owned by Brookfield Asset Management Inc. Sources expect the deal to be valued at around $3.05 bil. Cardinal Energy Group Inc James Monroe Capital Corp James Monroe Capital Corp plans to merge with Cardinal Energy Group Inc, a Dublin-based oil and gas exploration and production company. Domek Logistics LLC Magnate Worldwide LLC Magnate Worldwide LLC, jointly owned by Magnate Capital Partners LLC and CIVC Partners LP, acquired Domek Logistics LLC, a Crystal Lake-based provider of asset-light freight forwarding and customs house brokerage services. Carol P Rummel Insurance Agency Meadowbrook Insurance Group Inc Meadowbrook Insurance Group Inc, a unit of Fosun International Ltd, acquired Carol P Rummel Insurance Agency. Upability Inc MemberClicks LLC MemberClicks LLC acquired Upability Inc, an Indianapolis-based provider of professional and management development training services. Beacon Wealth Management LLC Mercer Advisors Inc Mercer Advisors Inc, a unit of Genstar Capital LLC, acquired Beacon Wealth Management LLC, a Hackensack- based portfolio manager. Caesars Entertainment Corp MGM Resorts International MGM Resorts International is rumored to be planning to merge with Caesars Entertainment Corp, a Las Vegas-based casino hotel operator. Chardon Surgery Center Montecito Medical Investment Co Montecito Medical Investment Co acquired the Chardon Surgery Center. Innovative Medical Technology Co Natcore Technology Inc Natcore Technology Inc plans to acquire Innovative Medical Technology Co, a provider of biotechnology research and development services. Mankato Energy Center II LLC Northern States Power Co Northern States Power Co (NSP), a unit of Xcel Energy Inc, agreed to acquire Mankato Energy Center II LLC, a Mankato-based electric power distributor, from Southern Power Co, ultimately owned by Southern Co. Concurrently, NSP acquired Mankato Energy Center LLC. Uplift Data Partners PrecisionHawk Inc PrecisionHawk Inc acquired Uplift Data Partners, a Chicago-based software publisher. Growlabs Inc Semantic Sugar Inc Semantic Sugar Inc plans to acquire Growlabs Inc, a software publisher. JaRay Software Inc ServiceTitan Inc ServiceTitan Inc acquired JaRay Software Inc, a Wichita-based software publisher. Zayo Group Holdings Inc-Enterprise Services Business Shareholders Zayo Group Holdings Inc plans to spin off its enterprise services business to its shareholders. Fibermesh Inc Sika Corp Sika Corp, a unit of Sika AG, acquired Fibermesh Inc, a Chattanooga-based manufacturer of chemical products, from Propex Operating Co LLC. Eliassen Group LLC Stone Point Capital LLC Stone Point Capital LLC acquired Eliassen Group LLC, a Wakefield-based provider of temporary help services, from Riverside Partners LLC via a leveraged buyout transaction. 8415 Queenston Boulevard,Houston,Texas Strategic Storage Trust IV Inc Strategic Storage Trust IV Inc, a unit of SmartStop Asset Management LLC, acquired a 540-unit self-storage facility at 8415 Queenston Boulevard in Houston. Appthority Inc Symantec Corp Symantec Corp acquired Appthority Inc, a San Francisco-based software publisher. Jushi Inc Tanzania Minerals Corp Tanzania Minerals Corp of Canada agreed to acquire the entire share capital of Jushi Inc, a Boca Raton-based manufacturer of medicinals and botanicals. Symantec Corp Thoma Bravo LLC Thoma Bravo LLC was rumored to be planning to acquire the entire share capital of Symantec Corp, a Mountain View-based developer of security, storage and system management solutions software, 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 $15 bil. Spectrum Intelligence Communication Agency LLC Upco INternational Inc Upco International Inc of Canada entered into a binding letter of intent to acquire Spectrum Intelligence Communication Agency LLC, a Miami Beach- based wired telecommunications carrier. Pacific Union Financial LLC WMIH Corp WMIH Corp plans to acquire Pacific Union Financial LLC, a Farmers Branch-based provider of real estate credit services. Midland Metals Inc Wynnchurch Capital LLC Wynnchurch Capital LLC acquired Midland Metals Inc, an Oskaloosa-based manufacturer of prefabricated metal buildings and components, via a leveraged buyout transaction. US M&A Deals Announced November 2 to 8, 2018 Source: Thomson Reuters