M and A Navigator: Deal pipeline -30 April.
MANews-(C)2009-2015
The following is a list of deals covered in detail by M and A Navigator this week:
-FERRO TO ACQUIRE SPANISH PIGMENTS MAKER FOR EUR 146M
US-based performance materials company Ferro Corp. (NYSE: FOE) has signed a definitive agreement to acquire 100% of the equity of Spanish pigments maker Nubiola Pigmentos Nubiola for EUR 146m (USD 163.22m), the company said. Nubiola is a producer of specialty inorganic pigments and the world's largest producer of Ultramarine Blue, a high-value pigment for plastics and construction industries due to its durability, unique color attributes and its whitening capability.
Status: Agreed
-AMERICAN VANGUARD BUYS DUPONT HERBICIDE ASSETS
US-based specialty and agricultural products company American Vanguard Corp.'s AMVAC C.V. Dutch subsidiary has acquired the global Bromacil herbicide business assets of DuPont Crop Protection (NYSE: DD), the company said. The assets divested include the Bromacil Hyvar and Krovar trademarks, product registrations, product registration data, customer information, access to certain know-how, technical registrations and associated registration data outside of North America.
Status: Closed
-LIFETIME BRANDS LOSES BIDDING FOR SILVERSMITH REED AND BARTON
US-based home products provider Lifetime Brands, Inc. (NASDAQ: LCUT) has been outbid in its attempt to buy bankrupt US silversmith maker Reed and Barton Corp., the company said. In late February, Lifetime Brands said it had entered into an asset purchase agreement to acquire the operating assets and to assume certain liabilities of Reed and Barton. Terms were not disclosed by Lifetime, but a report on Boston's WCVB quoting Reed and Barton CEO Tim Riddle put the deal at USD 15m, including USD 10m in cash and a USD 5m promissory note.
Status: Terminated
-NEWMONT TO SELL NEW ZEALAND UNIT TO OCEANAGOLD FOR USD 101M
US-based gold and copper producer Newmont Mining Corp. (NYSE: NEM) has signed a non-binding letter of intent with Australian gold producer OceanaGold Corp. (TSX: OGC) to sell Newmont Waihi Gold Ltd., the company said. Terms of sale include cash proceeds of USD 101m, a USD 5m contingent payment, and a 1% Net Smelter Royalty on a recent discovery north of Waihi's current operations.
Status: Agreed
-TETRA TECH TO ACQUIRE ENVIRONMENTAL ENGINEERING AND CONSULTING FIRM
US-based engineering consultant Tetra Tech, Inc. (NASDAQ: TTEK) has signed a definitive agreement to acquire US-based environmental engineering and consulting firm Cornerstone Environmental Group, the company said. Cornerstone, which is located in Middletown, New York, is focused on solid waste markets in the United States. The company has more than 160 employees and approximately USD 30m in annual revenue. Tetra Tech anticipates closing this transaction in May 2015.
Status: Agreed
-WORLD CLASS CAPITAL ACQUIRES SEVEN SELF-STORAGE FACILITIES IN OHIO
US-based real estate investment firm World Class Capital Group has acquired the Mini Storage Depot portfolio in Columbus, Ohio, USA, the company said. The portfolio consists of seven properties totaling 3,537 units and approximately 450,000 square feet. Earlier this month World Class Capital Group closed similar acquisitions in New York and the Illinois.
Status: Closed
-GRAFTECH ENTERS LOI TO SELL USD 150M OF PREFERRED SHARES TO BROOKFIELD ASSET
US-based material solutions company GrafTech International Ltd. (NYSE: GTI) has entered into a letter of intent regarding the potential sale of USD 150m of 7% convertible preferred shares in a private offering to an affiliate of asset manager Brookfield Asset Management Inc. (NYSE: BAM) (TSX: BAM.A) (Euronext: BAMA), the company said. GrafTech announced that its board also unanimously approved entering into a separate letter of intent for a possible tender offer by Brookfield to acquire outstanding shares of GrafTech common stock. The company lost USD 56m during the 1Q15, according to its earnings report filed this week.
Status: Agreed
-CLICKSOFTWARE TO BE ACQUIRED BY FRANCISCO PARTNERS IN USD 438M DEAL
US-based mobile workforce management and optimisation solutions provider ClickSoftware Technologies Ltd. (NASDAQ: CKSW) has signed a definitive agreement to be acquired by private funds managed by US private equity firm Francisco Partners Management L.P. in an all-cash transaction valued at approximately USD 438m, the company said. Under the terms of the agreement, Francisco Partners will acquire all of ClickSoftware's outstanding ordinary shares for USD 12.65 per share in cash. The company posted preliminary results for 1Q15 and expects to incur a net operating loss on a GAAP and non-GAAP basis for 1Q15.
Status: Agreed
-JAPAN TOBACCO TO BUY US E-CIGARETTE MAKER LOGIC
Japanese cigarette maker Japan Tobacco Inc. (TSX: 2914) has entered into an agreement to acquire US e-cigarette company Logic Technology Development LLC, JT said. Founded in 2010, Logic sells a range of rechargeable, ready-to-use and disposable e-cigarettes, including the Logic Pro tank system, which was newly launched in April 2015.
Status: Agreed
-WESTLAKE CHEMICAL PARTNERS UPS STAKE IN OPERATING COMPANY
US-based chemical company Westlake Chemical Partners LP (NYSE: WLKP) has acquired approximately 2.7% of additional limited partner interest in chemical facilities operator Westlake Chemical OpCo LP for approximately USD 135m, the partnership said. Westlake Chemical Partners is a limited partnership formed by Westlake Chemical Corp. to operate, acquire and develop ethylene production facilities and other qualified assets. This transaction increases Westlake Partners' limited partner interest in OpCo from approximately 10.6% to approximately 13.3% and represents the first purchase of additional interests in OpCo by Westlake Partners following its initial public offering in August 2014.
Status: Closed
-CANADA'S ROYAL CAPITAL MANAGEMENT UPS STAKE IN IKKUMA RESOURCES
Canadian investment company Royal Capital Management Corp. has acquired ownership and control of an additional 2m common shares of Canadian junior oil and gas company Ikkuma Resources Corp...
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