US M&A Deals Announced May 22 to 28, 2020
Target
Acquirer
Value ($millions)
Synopsis
Solara Medical Supplies LLC
Adapthealth Corp
425.0
AdaptHealth Corp (AdaptHealth) definitively agreed to acquire Solara Medical Supplies LLC, an Imperial Beach-based medical equipment and supplies merchant wholesaler, for a total $425 million. The consideration was to consist of $362.5 million in cash and $62.5 million in common shares. Concurrently, AdaptHealth definitively agreed to acquire ActivStyle Inc.
Webtoon Ent Inc
LINE Corp
188.5
LINE Corp of Japan, a unit of Naver Corp, agreed to acquire a 68.953% interest in Webtoon Entertainment Inc, a Los Angeles-based internet portal operator, from Naver Webtoon Corp, ultimately owned by Naver Corp, for a total $188.535 million. The consideration offered consisted of 70.083 million newly issued ordinary shares for $2.69 per share.
EQT Corp-Certain Upstream
Diversified Gas & Oil PLC
145.0
Diversified Gas & Oil PLC acquired certain upstream & related infrasturcture assets of EQT Corp, a Pittsburgh-based producer of crude petroleum and natural gas, for a total $145 million. The consideration consisted of $145 million and up to a further 20 million in profit related payments.
ActivStyle Inc
Adapthealth Corp
62.0
AdaptHealth Corp (AdaptHealth) definitively agreed to acquire ActivStyle Inc, a Minneapolis-based medical equipment and supplies merchant wholesaler, from The Riverside Co, for $62 million in cash. Concurrently, AdaptHealth definitively agreed to acquire Solara Medical Supplies LLC.
High Standard Health Care Ltd
Global Care Capital Inc
17.9
Global Care Capital Inc of Canada signed a letter of intent(LOI) to acquire 70% interest in High Standard Health Care Ltd, a Schenectady-based manufacturer of surgical appliance and supplies, for a total $17.915 mil, in a stock swap transaction. The consideration was to consist of $3.584 million in cash, the issuance of 27 million common shares valued at $13.643 mil, and issuance of 3 million warrant convertible into 3 million common shares valued at $0.688 mil.
Capstone Capital Inc
Allworth Financial
Allworth Financial, a unit of Parthenon Capital Partners LLC, acquired Capstone Capital Inc, a Mason-based investment advisor. Terms of the transaction were not disclosed.
Zoox Inc
Amazon.com Inc
Amazon.com Inc was rumored to be planning to acquire Zoox Inc, a Foster City-based provider of research and development services. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $3.2 bil.
Unitedlex Corp-Managed
Ankura Consulting Group LLC
Ankura Consulting Group LLC acquired Managed Detection & Response Business of UnitedLex Corp, an Overland Park-based provider of business support services, ultimately owned by CVC Advisers Ltd.
Retail Pro Associates Inc
CBD Unlimited Inc
CBD Unlimited Inc acquired Retail Pro Associates Inc, a Louisville-based drugs merchant wholesaler.
ThousandEyes Inc
Cisco Systems Inc
Cisco Systems Inc planned to acquire ThousandEyes Inc, a San Francisco-based software publisher. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at $1 bil.
Veecor Co
Coastal Group
Coastal Group acquired Veecor Co, a Bogalusa-based provider of packaging and labeling services.
Tagomi Trading LLC
Coinbase Inc
Coinbase Inc planned to acquire Tagomi Trading LLC, a Jersey City-based provider of financial investment services. The terms of the deal are undisclosed.
Gorge Networks
Eastern Oregon Telecom LLC
Eastern Oregon Telecom LLC merged with Gorge Networks, a Hood River-based internet service provider.
Fleet Logistics Inc-Digital
Expeditors International of WA
Expeditors International of Washington Inc acquired the digital platform assets of Fleet Logistics Inc, a Portland-based provider of freight transportation arrangement services. Terms were not disclosed.
Ophthy DS Inc
Experimentica Ltd
Experimentica Ltd of Finland acquired Ophthy DS Inc, a Kalamazoo-based provider of research and development services.
Freestone Autoplex
Foundation Automotive Corp
Foundation Automotive Corp acquired Freestone Autoplex, a Fairfield-based new car dealer.
Prime Pork LLC
Hylife Ltd
Hylife Ltd of Canada, jointly owned by ITOCHU Corp and Charoen Pokphand Foods PCL, acquired a 75% interest in Prime Pork LLC, a Windom-based pig farming establishment, from Taylor Corp.
Henningsen Cold Storage Co
Lineage Logistics Holdings LLC
Lineage Logistics Holdings LLC, a unit of Bay Grove Capital LLC, definitively agreed to acquire Henningsen Cold Storage Co, a Hillsboro-based provider of refrigerated warehousing and storage services.
EK Riley Investments-Assets
LPL Financial LLC
LPL Financial LLC, a unit of LPL Investment Holdings Inc, agreed to acquire assets of EK Riley Investments LLC, a Seattle-based investment advisor.
Unified Funding LLC
Mota Ventures Corp
Mota Ventures Corp of Canada signed a Letter of Intent {LoI} to acquire Unified Funding LLC, an American Fork-based e- commerce service provider.
Weantinoge Heritage Land Tr
Naromi Land Trust Inc
Naromi Land Trust Inc planned to merge with Weantinoge Heritage Land Trust Inc (Weantinoge), a Kent-based environment conservation organization. Upon completion, Weantinoge was to be renamed Northwest Connecticut Land Conservancy.
MD Logistics Inc
Nippon Express USA Inc
Nippon Express USA Inc, a unit of Nippon Express Co Ltd, agreed to acquire the entire share capital of MD Logistics Inc, a Plainfield-based third-party logistics provider serving manufacturers in the life science, pharmaceutical, retail, and consumer goods industries. The transaction includes MD Express Inc.
Carter Motor Co
Orchid Monroe Llc
Orchid Monroe LLC definitively agreed to acquire Carter Motor Co, a Warren-based manufacturer of motors and generators.
W Live Oak St Ppty(2)
Rastegar Property Co
Rastegar Property Co acquired West Live Oak Street Properties(2), an Austin-based housing constructor.
Stratos Genomics Inc
Roche Holdings AG
Roche Holdings AG of Switzerland acquired Stratos Genomics Inc, a Seattle-based provider of biotechnology research and development services.
Apirise Inc
RudderStack
RudderStack acquired Apirise Inc, a Dover-based provider of data processing and hosting services.
GE Lighting Inc
Savant Systems LLC
Savant Systems LLC definitively agreed to acquire GE Lighting Inc, an East Cleveland-based manufacturer of residential electric lighting fixtures, from General Electric Co. Terms of the deal were not disclosed.
Gen Elec Co-Lighting Bus
Savant Systems LLC
Savant Systems LLC agreed to acquire lighting business of General Electric Co, a Boston-based manufacturer of power, distribution and specialty transformers. Terms were not disclosed. Originally, in April 2017, General Electric Co, a Fairfield-based manufacturer of power, distribution and specialty transformers, was rumored to be seeking a buyer for its lighting business.
Carriereq Inc
Via Varejo SA
Via Varejo SA of Brazil acquired CarrierEq Inc, a Boston-based provider of financial investment services. The terms of the deal were not disclosed.
Plantation at Pleasant Ridge
West Shore LLC
West Shore LLC (WSL) acquired Plantation at Pleasant Ridge, a Greensboro-based lessor of residential buildings and dwellings. Concurrently, WSL acquired Town Center at Lake Carolina.
Town Center at Lake Carolina
West Shore LLC
West Shore LLC (WSL) acquired Town Center at Lake Carolina, a Columbia-based lessor of residential buildings and dwellings. Concurrently, WSL acquired Plantation at Pleasant Ridge.
