M and A Navigator: Deal pipeline -11 January.
M2 EQUITYBITES-January 19, 2018-M and A Navigator: Deal pipeline -11 January
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The following is a list of deals covered in detail by M and A Navigator this week:
-CIVITAS SOCIAL HOUSING ACQUIRES FIVE SPECIALIST SUPPORTED LIVING PROPERTIES IN UK
UK-based social housing REIT Civitas Social Housing plc (LSE: CSH) has completed the purchase of five specialist supported living and residential care properties for a total consideration of GBP 6.7m (USD 9.05m), the company said.
The portfolio includes four residential care properties in Kent, managed by Chrysalis Supported Association Ltd., which is regulated by the HCA, and one specialist supported living property in Luton, managed by Falcon Housing Association, also regulated by the HCA.
Status: Closed
-TP ICAP ACQUIRES US ENERGY AND COMMODITIES BROKER SCS
UK-based wholesale market intermediary firm TP ICAP plc (LSE: TCAP) has acquired US-based energy and commodities broker SCS Commodities Corp, the company said. SCS has expertise in crude oil futures, soft commodities, petroleum and refined products, natural gas options and crude oil options.
It has 26 brokers who provide clients with continuous coverage of energy markets around the world including pre-trade intelligence and execution expertise of high volume trades, including blocks, inter-commodity spreads and complex option strategies. SCS was founded in 1991. It is being sold by its five partners who together own 98% of the business, and by a corporate entity which owns the remaining 2%.
Status: Closed
-AFH FINANCIAL GROUP CLOSES ACQUISITION OF MONOPOLY FINANCIAL CONSULTANTS
UK-based financial planning led wealth management firm AFH Financial Group plc (LSE: AFHP) has closed the acquisition of the assets of Monopoly Financial Consultants Ltd. based in Rickmansworth, Hertfordshire, the firm said.
Following the acquisition Nigel Parbrook will join AFH as an adviser. Under the terms of the acquisition, the maximum purchase price is GBP 631,000 subject to the fulfilment of certain financial targets.
The acquisition is expected to contribute approximately GBP 170,000 of recurring revenue to the company.
Status: Closed
-KCR RESIDENTIAL REIT ACQUIRES LEASEHOLD APARTMENT
UK-based property investor KCR Residential REIT plc's (LSE: KCR) K and C (Osprey) Ltd subsidiary has acquired a further apartment within one of its freehold retirement residential developments, the company said. The 67-year lease of the apartment was purchased for a consideration of GBP 310,000 (USD 418,952), excluding costs.
The acquisition was funded via a drawdown from the "2018 Loan" of GBP 1.875m announced on 4 January 2018. In line with the previous leasehold acquisitions, the apartment will be refurbished and sold subject to a new 125-year lease such that Osprey retains the freehold interest.
Status: Closed
-IG DESIGN GROUP CLOSES ACQUISITION OF AUSTRALIAN GREETING CARD BUSINESS
UK-based celebration, gifting, stationery and creative play products provider IG Design Group plc (LSE: IGR) has closed the acquisition of the trade and certain assets of Australian greetings card and paper products business Biscay Greetings Pty Ltd., the group said.
This deal was announced last September. The acquisition was made through Design Group's Australian joint venture Artwrap, and was satisfied by a cash consideration of AUD 9m (USD 7.08m) using local debt facilities. Stock and fixed assets acquired are estimated at a market value of AUD 5m (GBP 3.1m) with the balance of the consideration to be treated as intangible assets and goodwill.
Status: Closed
-NEC ACQUIRES NORTHGATE PUBLIC SERVICES TO ENHANCE SAFETY OFFERINGS
Japan-based information technology services company NEC Corp. (NEC; TOKYO: 6701) has acquired UK-based IT services company Northgate Public Services Ltd. for GBP 475m (USD 642m) from London, UK-based private equity firm Cinven, the company said.
This acquisition is expected to be completed by the end of January 2018. NEC said with this acquisition, NEC aims to support and strengthen NPS' technologies for police operations, establish new safety solutions based on a common business platform, and to further develop international markets largely focussed on countries within the Commonwealth.
Status: Closed
-CREALOGIX TO ACQUIRE SPANISH DIGITAL BANKING SUPPLIER INNOFIS
Switzerland-based software provider Crealogix will acquire 100% of the Spain-based digital banking supplier for the Middle East Innofis, to strengthen bank offerings, the company said. With the acquisition, Crealogix will gain an established customer base and initiate its presence in an additional territory with high demand and growth potential for digital banking solutions.
The acquisition will complement the current solution portfolio in digital banking and accelerates Crealogix's position as a leading global player for digital banking. This move will allow existing and future customers to benefit from a broader range of digital offerings from a single source.
Status: Agreed
-STEPSTONE REAL ESTATE TO ACQUIRE COURTLAND PARTNERS TO ENHANCE INVESTMENT SOLUTIONS
New York, US-based real estate investment firm StepStone Group Real Estate LP (SRE) has agreed to acquire Ohio, US-based real estate advisors Courtland Partners, Ltd. to enhance customised investment solutions, the company said.
The transaction is expected to...
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