Weekly wrap: Nexstar, Tribune Media, Thoma Bravo, TPG

Target Acquirer Value ($millions) Synopsis INSUL-TAB Inc Pexco LLC AEA Investors LP’s unit Pexco LLC acquired INSUL-TAB Inc, a Woburn-based rubber products manufacturer. Roll-Rite LLC Safe Fleet Holdings LLC Oak Hill Capital Partners LP’s unit Safe Fleet Holdings LLC 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. API Defense USA Inc Kitron Inc 15.9 Kitron ASA’s unit Kitron Inc definitively agreed to acquire the entire share capital of API Defense USA Inc, a Windber-based electronic components manufacturer, for USD 15.9 mil in cash from API Technologies Corp, ultimately owned by JF Lehman & Co. Q-Centrix LLC TPG Growth LLC TPG Capital LP’s unit TPG Growth LLC acquired Q-Centrix LLC, a Portsmouth-based provider of data processing and hosting services, from Sterling Capital Ltd via a leveraged buyout transaction. Pugatch Realty Corp Laffey International Realty LLC Berkshire Hathaway Homeservices Inc’s unit Laffey International Realty LLC merges with Pugatch Realty Corp, a Woodmere-based real estate agency. Strategic Hospital Resources Inc Smith Seckman Reid Inc Smith Seckman Reid Inc acquired Strategic Hospital Resources Inc, an Atlanta-based provider of medical equipment consulting services. Thomas F Leo LS PC Joe Hunt & Associates Inc Joe Hunt & Associates Inc acquired Thomas F. Leo LS PC, a Delhi-based provider of surveying and mapping services. South Jersey Energy Co-Retail Natural Gas Business & Open Flow Energy UGI Energy Services LLC UGI Corp’s unit UGI Energy Services LLC acquired the retail natural gas business & open flow energy of South Jersey Energy Co, a Folsom-based electric power distributor ultimately owned by South Jersey Industries Inc. PEC Safety Operations LLC Thoma Bravo LLC Thoma Bravo LLC acquired a majority interest in PEC Safety Operations LLC, a Mandeville-based software publisher, via a leveraged buyout transaction. Yucatan Foods LP Apio Inc 80.0 Landec Corp’s unit Apio Inc acquired the entire share capital of Yucatan Foods LP, a Los Angeles-based avocado products producer, for about USD 80 mil in cash. The consideration consisted of USD 60 mil in cash and USD 20 mil in common shares. Apple Valley Waste Service Inc Gold Medal Group LLC Kinderhook Industries LLC’s unit Gold Medal Group LLC acquired Apple Valley Waste Service Inc, a Kearneysville-based provider of hazardous waste treatment and disposal services. Keystone Consolidated Industries Inc Liberty Steel USA 320.0 Liberty House Ltd’s unit Liberty Steel USA definitively agreed to acquire the entire share capital of Keystone Consolidated Industries Inc, a Dallas-based steel products manufacturer, from Contran Corp for USD 320 mil. Gro Solutions Inc Q2 Holdings Inc Q2 Holdings Inc acquired Gro Solutions Inc, an Atlanta-based software publisher. Parata Systems LLC TCGRx TCGRx merges with Parata Systems LLC, a Durham-based provider of computer systems design services. Tablet Inc Michelin North America Inc Michelin North America Inc, a unit of Compagnie Generale des Etablissements Michelin SCA, acquired Tablet Inc, a New York-based internet service provider. Tesaro Inc GlaxoSmithKline PLC 4,319.0 GlaxoSmithKline PLC of the UK definitively agreed to acquire the entire share capital of Tesaro Inc, a Waltham-based biopharmaceuticals manufacturer, for USD 75 in cash per share or a total of USD 4.319 bil via tender offer. The offer was conditional upon at least 50% of the shares being tendered. Originally, in May 2017, Tesaro was rumored to be seeking a buyer for the company. Thorntons Inc Thorntons Inc SPV Thorntons Inc SPV, a special purpose acquisition vehicle by ArcLight Capital Partners LLC and BP PLC, agreed to acquire Thorntons Inc, a Louisville-based owner and operator of gasoline stations with convenience stores, via a leveraged buyout transaction. Originally, in June 2018, Thorntons was rumored to be seeking a buyer for the company, with Marathon Petroleum Corp and 7-Eleven named as potential bidders. Tribune Media Co Nexstar Media Group Inc 6,400.0 Nexstar Media Group Inc definitively agreed to acquire the entire share capital of Tribune Media Co, a Chicago-based television broadcasting company, for USD 6.4 bil. The consideration would consist of USD 46.5 in cash per share or a total of USD 4.130 bil and the assumption of USD 2.241 bil in liabilities plus USD 28.371 mil/options. Originally, In September 2018, Tribune was rumored to be seeking a buyer for the entire share capital of the company, with Apollo Global Management LLC, Nexstar Media Group, Byron Allen, Ion Media, Hicks Equity Partners, Cerberus Capital, and Northwest Broadcasting LP named as potential bidders. MightyHive Inc S4 Capital PLC S4 Capital PLC of the UK plans to acquire MightyHive Inc, a San Francisco-based provider of marketing consulting services. Originally, in November 2018, S4 was rumored to be planning to acquire MightyHive. EllisLab Inc Digital Locations Inc Digital Locations Inc definitively agreed to acquire the entire share capital of EllisLab Inc, a Beaverton-based provider of data processing and hosting services. Navistar Defense LLC Cerberus Capital Management LP Cerberus Capital Management LP agreed to acquire a 70% stake in Navistar Defense LLC, a Lisle-based tactical wheeled vehicles manufacturer, via a leveraged buyout transaction from Navistar Inc, ultimately owned by Navistar International Corp. 845 Unit Acacia Portfolio,Phonenix,Arizona Greystar Real Estate Partners LLC Greystar Real Estate Partners LLC acquired the 845-unit Acacia Portfolio in Phoenix. KBK Insurance Group Inc NSM Insurance Group Inc ABRY Partners LLC’s unit NSM Insurance Group Inc acquired KBK Insurance Group Inc, a Harahan-based insurance agency. Nuvera Fuel Cells Inc-PowerTap Hydrogen Generator Assets OneH2 Inc OneH2 Inc definitively agreed to acquire the PowerTap hydrogen generator assets of Nuvera Fuel Cells Inc, a Billerica-based manufacturer of fuel cell power and hydrogen generation products ultimately owned by Hyster-Yale Materials Handling Inc. Arran Isle Inc Patrick Industries Inc 54.0 Patrick Industries Inc acquired Arran Isle Inc, an Elkhart-based hardware manufacturer, from Arran Isle Ltd for about USD 54 mil. The transaction included LaSalle Bristol. Aircraft Performance Group Inc Liberty Hall Capital Partners LP Liberty Hall Capital Partners LP acquired Aircraft Performance Group Inc, a Castle Rock-based provider of commercial transportation equipment rental and leasing services, via a leveraged buyout transaction. Road Dog Drivers LLC Professional Drivers of Georgia Inc Professional Drivers of Georgia Inc, a unit of EmployBridge Inc, acquired Road Dog Drivers LLC, a Cornelius-based provider of recruiting services. Schenck SC CliftonLarsonAllen LLP CliftonLarsonAllen LLP plans to merge with Schenck SC, an Appleton-based provider of accounting and business consulting services. TripleCare Inc Curavi Health Inc Curavi Health Inc acquired TripleCare Inc, a Long Island City-based provider of ambulatory health care services, from Apple Tree Partners. Connectics LLC WorkForceConnexion Recruiting Solutions LLC WorkForceConnexion Recruiting Solutions LLC acquired Connectics LLC, an Atlanta-based provider of human resources and executive search consulting services. Phynexus Inc Biotage AB 21.6 Biotage AB of Sweden agreed to acquire the entire share capital of Phynexus Inc, a San Jose-based provider of biotechnology research and development services, for about USD 21.601 mil. The consideration will consist of an estimated USD 4.9 mil in cash, issuance of 0.487 mil common shares and an estimated USD 10 mil in profit-related payments. The shares were valued based on Biotage’s closing stock price of USD 13.760 on 3 December 2018, the last full trading day prior to the announcement. Parker Hannifin Corp-Energy Grid Tie Division LS Industrial Systems Co Ltd LS Industrial Systems Co Ltd of South Korea acquired the Energy Grid Tie division of Parker Hannifin Corp, a Cleveland-based manufacturer of motion and control technologies. Gebbs Healthcare Solutions Inc ChrysCapital Management Co ChrysCapital Management Co of Mauritius acquired an 80% stake in Gebbs Healthcare Solutions Inc, a Culver City-based provider of ambulatory health care services, via a leveraged buyout transaction. Megastir Technologies LLC Mazak Corp Mazak Corp acquired Megastir Technologies LLC, a Provo-based fabricated metal products manufacturer. Daily Jefferson County Union Adams Publishing Group LLC Adams Publishing Group LLC acquired Daily Jefferson County Union, a Fort Atkinson-based newspaper publisher. Revere Gas Quarles Petroleum Inc Quarles Petroleum Inc agreed to acquire Revere Gas, an Oilville-based petroleum refinery operator. Schneider Energy Consulting Summit Energy Services Waste Management Inc’s unit Summit Energy Services definitively agreed to merge with Schneider Energy Consulting, a Fort Morgan-based provider of oil and gas drilling services. American Stainless Tubing Inc Synalloy Corp 28.0 Synalloy Corp definitively agreed to acquire American Stainless Tubing Inc, a Troutman-based manufacturer of steel pipes and tubes, for about USD 28 mil and profit-related payment. Acquired IO Inc adjust GmbH adjust GmbH of Germany bought Acquired.io, a Foster City-based software publisher. Trusource Labs Everise Holdings Pte Ltd Everise Holdings Pte Ltd of Singapore, jointly owned by Everstone Capital Partners III LP and Sunrise BPO Services Pte Ltd, agreed to acquire Trusource Labs, an Austin-based provider of administrative management and general management consulting services. Caliber Collision Centers Inc ABRA Auto Body & Glass LP Hellman & Friedman LLC’s unit ABRA Auto Body & Glass LP definitively agreed to merge with Caliber Collision Centers Inc, a Lewisville-based provider of automotive surfaces repair and maintenance services, via a leveraged buyout transaction from OMERS Private Equity Inc, ultimately owned by Ontario Municipal Employees Retirement System and Leonard Green & Partners LP. Gesa Credit Union Inspirus Credit Union Inspirus Credit Union plans to acquire the remaining stake it does not already own Richland-based in Gesa Credit Union. OncoMed Pharmaceuticals Inc Mereo BioPharma Group PLC 57.3 Mereo BioPharma Group PLC of the UK plans to merge with OncoMed Pharmaceuticals Inc, a Redwood City-based biological products manufacturer, for approximately 23.7 mil in new Mereo ordinary shares or an estimated USD 57.269 mil via a stock swap transaction. The shares were valued based on Mereo’s closing stock price of USD 2.416 on 4 December 2018, the last full trading day prior to the announcement. Upon completion of the deal, Mereo and OncoMed shareholders would respectively own 75% and 25% of the merged entity. TFC Communication USA Inc Suzhou TFC Optical Communication Co Ltd Suzhou TFC Optical Communication Co Ltd of China plans to acquire the entire share capital of TFC Communication USA Inc, a manufacturer of electronic components, from Liping Li for a nominal consideration of USD 100 in cash. Dakine Hawaii Inc-Operating Assets JR286 Inc JR286 Inc acquired the operating assets of Dakine Hawaii Inc, a Hood River-based manufacturer of sporting and athletic goods ultimately owned by Altamont Capital Partners LLC. Dakine Inc Marquee Brands LLC Neuberger Berman Group LLC’s unit Marquee Brands LLC acquired Dakine Inc, a Hood River-based wholesaler of outdoor sports gear and accessories. Elliot Plaza,Seattle,Washington The Sterling Organization LLC 11.7 The Sterling Organization LLC acquired Elliot Plaza, a 50,678-sq ft shopping center in Seattle, for USD 11.65 mil via a leveraged buyout transaction. Southport Logistics Park,Dallas Fort Worth,Texas Logistics Property Co LLC Logistics Property Co LLC acquired Southport Logistics Park, a 252-acre master-planned logistics destination within the South Dallas submarket of Dallas-Fort Worth, TX. Verimatrix Inc Inside Secure SA 158.0 Inside Secure SA of France agreed to acquire Verimatrix Inc, a San Diego-based software publisher, for about USD 158 mil. The consideration will consist of USD 143 mil in cash and up to USD 15 mil in profit-related payments. The Deal LLC Euromoney Institutional Investor PLC 87.3 Euromoney Institutional Investor PLC of the UK agreed to acquire the entire share capital of The Deal LLC, a New York-based book publisher, from Wasserstein & Co LP for USD 87.3 mil. Sears Holdings Corp ESL Investments Inc 4,621.0 ESL Investments Inc through a subsidiary, plans to acquire the remaining 81.16% stake it does not already own in the bankrupt Sears Holdings Corp, a Hoffman Estates-based department store operator, for about USD 4.621 bil via an unsolicited offer. The consideration will include USD 1.8 bil credit and USD 1.1 bil in assumed liabilities. Concurrently, ESL planned to acquire the Sears Home Improvement Business, PartsDirect Business, and Kenmore Brand & related assets of Sears.  US M&A Deals Announced November 30 to December 6, 2018  Source: Thomson Reuters