The weekly wrap: Aveanna, Blackstone Real Estate, Del Fisco’s

Photo credit: Barcelona Wine Bar
Target Acquirer Value ($millions) Synopsis Starbucks Corp (perpetual global license to sell its consumer and foodservice products) Nestle SA 7,500.0 Nestlé of Switzerland has been granted perpetual rights to market Starbucks consumer and foodservice products globally, outside of the latter’s coffee shops. In exchange, Seattle-based Starbucks received an up-front cash payment of $7.15 billion. athenahealth Inc Elliott Management Corp 5,890.1 Elliott Management Corp plans to acquire the remaining 91.10% stake it does not already own in athenahealth, Inc, a Watertown-based software publisher, via a leveraged buyout transaction for $160 in cash per share or a total $5.89 billion in cash. Earlier this month, Elliott was rumored to be planning to acquire the remaining stake it does not already own in athenahealth. Gramercy Property Trust Inc Blackstone Real Estate Partners VIII LP 4,421.6 Blackstone Real Estate Partners VIII LP, a unit of Blackstone Group LP, definitively agreed to acquire the entire share capital of Gramercy Property Trust Inc, a New York-based lessor of residential buildings and dwellings, for $27.5 in cash per share or a total of $4.422 billion. Waddington Group Inc Novolex Holdings Inc 2,300.0 Novolex Holdings Inc, a unit of The Carlyle Group LP, definitively agreed to acquire Waddington Group Inc, a Covington-based manufacturer of plastic products, for around $2.3 billion from Jarden Corp, ultimately owned by Newell Brands Inc. Originally, in January 2018, Newell was announced that it was seeking a buyer for its Waddington unit. Armo Biosciences Inc Eli Lilly & Co 1,622.9 Eli Lilly & Co launched a tender offer to acquire the entire share capital of Armo Biosciences Inc, a Redwood City-based manufacturer of pharmaceutical preparations, for $50 in cash per share or a total of $1.623 billion. The offer was conditional upon at least a majority of Armo’s shares being tendered. Morsco Inc Reece Ltd 1,440.0 Reece Ltd of Australia, agreed to acquire the entire share capital of MORSCO Inc, a Fort Worth-based wholesaler of commercial and residential plumbing, waterworks, heating and cooling equipment (HVAC), and pipe, valves and fittings (PVF) supplies, from Advent International Corp and other shareholders, for $1.44 billion in cash. Amberjack Pipeline Co LLC Shell Midstream Partners LP 1,220.0 Shell Midstream Partners LP agreed to acquire an undisclosed majority interest in Amberjack Pipeline Co LLC, a Wilmington-based provider of pipeline transportation services of crude oil, for $1.22 billion from Chevron Pipe Line Co. Glassdoor Inc RGF OHR USA Merger Sub Inc 1,200.0 RGF OHR USA Merger Sub Inc, a unit of Recruit Holdings Co Ltd, definitively agreed to acquire the entire share capital of Glassdoor Inc, a Mill Valley-based internet service provider, from Battery Ventures LP (10.6%) and Benchmark Capital (13.4%) and Tiger Global Management LLC (14.2%) for a total of $1.2 billion in cash. Capital One Financial Corp-Mortgage Portfolio DLJ Mortgage Capital Inc 1,190.0 DLJ Mortgage Capital Inc, a unit of Credit Suisse (USA) Inc, plans to acquire the mortgage portfolio of Capital One Financial Corp, a Mclean-based commercial bank, for $1.19 billion. The transaction was valued based on the 7% standard capitalization rate. Midcoast Operating LP AL Midcoast Holdings LLC 1,120.0 AL Midcoast Holdings LLC definitively agreed to acquire Midcoast Operating LP, a Houston-based natural gas distributor, for around $1.12 billion in cash from Midcoast Energy Partners LP, owned by Enbridge Energy Co Inc. Tribune Media Co-TV Stations(7) 21st Century Fox Inc 910.0 21st Century Fox Inc definitively agreed to acquire 7 TV stations from Tribune Media Co, a Chicago-based television broadcaster, for around $910 million. Originally, in January 2018, Fox was rumored to be planning to acquire Tribune’s TV stations. Xcerra Corp Cohu Inc 764.7 Cohu Inc definitively agreed to acquire the entire share capital of Xcerra Corp, a Norwood-based manufacturer of electrical signals measuring and testing instruments, for $764.658 million. The consideration will consist of $494.231 million in cash and the issuance of 11.581 million Cohu common shares valued at $270.427 million. The shares were valued based on Cohu’s closing stock price of $23.35 on 7 May 2018, the last full trading day prior to the announcement. Upon completion of the deal, Cohu and Xcerra will respectively own 70% and 30% of the merged entity. Caesars Entertainment Corp-Octavius Tower,Las Vegas,Nevada VICI Properties Inc 507.5 VICI Properties Inc of the US signed a letter of intent to acquire Octavius Tower of Caesars Entertainment Corp, a Las Vegas-based casino hotel operator ultimately owned by Hamlet Holdings LLC, for $507.5 million. Concurrently, VICI Properties signed a letter of intent to acquire Harrah’s Philadelphia of Caesars. Tate’s Bake Shop Inc Mondelez International Inc 500.0 Mondelez International Inc definitively agreed to acquire Tate’s Bake Shop Inc, a Southampton-based manufacturer of cookies and crackers, from The Riverside Co for around $500 million. Barteca Restaurant Group LLC Del Frisco’s Restaurant Group LLC 325.0 Del Frisco’s Restaurant Group LLC definitively agreed to acquire Barteca Restaurant Group LLC, a Norwalk-based full-service restaurant operator, for $325 million in cash. Caesars Entertainment Corp-Harrah’s Philadelphia,Chester,Philadelphia VICI Properties Inc 241.5 VICI Properties Inc of the US signed a letter of intent to acquire Harrah’s Philadelphia of Caesars Entertainment Corp, a Las Vegas-based casino hotel operator ultimately owned by Hamlet Holdings LLC, for $241.5 million. Concurrently, VICI Properties signed a letter of intent to acquire Octavius Tower at Caesars Palace in Las Vegas for $507.5 mil. American Roads LLC DIF Infra 5 US LLC 220.0 DIF Infra 5 US LLC, a unit of DIF Management BV, agreed to acquire American Roads LLC, a Detroit-based provider of road transportation support services, for around $220 million in cash from Syncora Guarantee Inc, ultimately owned by Syncora Holdings Ltd. Liberty Property Trust-Five Crescent Drive Korea Investment Management Co Ltd 130.5 Liberty Property Trust announced that it has sold Five Crescent Drive, a 207,779 sq ft office building at the Philadelphia Navy Yard for $130.5 million. The Leed Platinum property currently leased to GSK was purchased by an affiliate of Korea Investment Management Co., Ltd (KIM). Gemini Laboratories LLC Amneal Pharmaceuticals LLC 117.0 Amneal Pharmaceuticals LLC, a unit of Amneal Pharmaceuticals Inc, acquired Gemini Laboratories LLC, a Bridgewater-based manufacturer of pharmaceutical preparations, for $117 million. MegaPath Corp Fusion Telecommunications International Inc 71.5 Fusion Telecommunications International Inc definitively agreed to acquire MegaPath Corp, a Pleasanton-based internet service provider, from Platinum Equity LLC, for $71.5 million. The consideration will consist of $61.5 million in cash and $10 million in new common shares. Shaw Distribution Center Griffin Capital Co LLC 56.5

Griffin Capital Essential Asset REIT Inc acquired the Shaw Distribution Center – Northport Building C in Savannah, Georgia for around $56.5million.

Work Area Protection Corp Hill & Smith Holdings PLC 42.0 Hill & Smith Holdings PLC of the UK acquired Work Area Protection Corp, a Saint Charles-based manufacturer of plastics products, for $42 million in cash. Reeves-Sain Drug Store Inc-Certain Assets CVS Health Corp 40.0 CVS Health Corp definitely agreed to acquire certain assets of Reeves-Sain Drug Store Inc, a Memphis- based drug store operator ultimately owned by Fred’s Inc, for around $40 mil. Sunset Cove Apartments,Costa Mesa,CA Bascom Group LLC 33.3 Bascom Group LLC acquired the Sunset Cove Apartments in Costa Mesa for $33.3 million via a leveraged buyout transaction. Pioneer Custom Electrical Products Corp CleanSpark Inc 19.3 CleanSpark Inc definitively agreed to acquire the entire share capital of Pioneer Custom Electrical Products Corp, a Santa Fe Springs-based manufacturer of switchgear and switchboard apparatuses, from Pioneer Power Solutions Inc, for 7 million CleanSpark common shares valued at $19.25 million. The shares were valued based on CleanSpark’s closing stock price of $2.75 on 7 May 2018, the last full trading day prior to the announcement. Industrial Realty Group LLC -Industrial Properties(2) Phoenix Investors LLC 13.5 Phoenix Investors LLC acquired 2 industrial properties from Industrial Realty Group LLC, a Los Angeles-based real estate development firm, for a total of $13.5 mil. ANM Inc Apogee Opportunities Inc 5.5 Apogee Opportunities Inc of Canada signed a letter of Intent to acquire the entire share capital of ANM Inc, a Medford-based manufacturer of pharmaceutical preparations, for $5.549 million via a stock swap reverse takeover transaction. Apogee offered 1. 35 common share per ANM share. Based on Apogee’s closing stock price of $0.202 on 4 May 2018, the last full trading day prior to the announcement. XBTeller ChineseInvestors.COM Inc 2.5 ChineseInvestors.COM Inc signed a letter of intent to acquire XBTeller, a Denver-based provider of financial transactions services, for $2.5 million. The consideration will consist of $0.4 million in cash and $2.1 million restricted common shares. XGas LLC Raven Energy Ltd 0.5 Raven Energy Ltd of Australia signed letter of intent to acquire XGas LLC, an oil and gas exploration and production company, from XState Resources Ltd for $0.878 mil. Alaskan Express Service Inc AFF Global Logistics AFF Global Logistics, a unit of The Resolute Fund II LP, acquired Alaskan Express Service Inc, a Sumner-based provider of freight transportation arrangement services. Dickerson Employee Benefits Inc Alera Group Inc Alera Group Inc, acquired Dickerson Employee Benefits Inc, a Los Angeles-based insurance agency. Concurrently, Alera acquired The Courtney Group Inc and Benefit Plan Strategies. The Courtney Group Ltd Alera Group Inc Alera Group Inc acquired The Courtney Group Ltd, a Highland Park-based insurance agency. Concurrently, Alera acquired Dickerson Employee Benefits Inc and Benefit Plan Strategies. Benefit Plan Strategies Alera Group Inc Alera Group Inc acquired Benefit Plan Strategies, a Tulsa-based insurance agency. Concurrently, Alera acquired Dickerson Employee Benefits Inc and The Courtney Group Inc. Main Street America Group American Family Mutual Insurance Co American Family Mutual Insurance Co plans to merge with Main Street America Group, a Jacksonville-based direct life insurance carrier. AJ Amer Agency Inc Arthur J Gallagher & Co Arthur J Gallagher & Co acquired AJ Amer Agency Inc, an Akron-based insurance agency. Pronto Holdco LLC Arthur J Gallagher & Co Arthur J Gallagher & Co plans to acquire the entire share capital of Pronto Holdco LLC, a Brownsville-based insurance agency. Pioneer Industries Inc Assa Abloy AB Assa Abloy AB of Sweden agreed to acquire Pioneer Industries Inc, a Carlstadt-based manufacturer of metal windows and doors, from Direct Commercial Industries LLC. National Insurance Services Of Wisconsin Inc AssuredPartners Inc AssuredPartners Inc, a unit of GTCR LLC, acquired the National Insurance Services of Wisconsin Inc, a Brookfield-based insurance agency. Passenger Drone Astro Aerospace Ltd Astro Aerospace Ltd acquired Passenger Drone, a manufacturer of vertical take-off and landing (VTOL) aircraft. Novartis AG-Generics Unit Aurobindo Pharma Ltd Aurobindo Pharma Ltd of India is rumored to be planning to acquire the generics unit of Novartis AG, a Basel-based manufacturer of pharmaceutical preparation, for around $1.7 billion. Premier Healthcare Services LLC Aveanna Healthcare LLC Aveanna Healthcare LLC plans to acquire Premier Healthcare Services LLC, a Pasadena-based provider of ambulatory health care services. Safariland LLC Axon Enterprise Inc Taser International Inc plans to acquire the remaining stake it does not already own in Safariland LLC, an Ontario-based provider of metal coating and surfacing services, from Kanders & Co Inc. Vievu LLC Axon Enterprise Inc Axon Enterprise Inc plans to acquire Vievu LLC, a Seattle-based manufacturer of body-worn camera and video technologies, from Safariland LLC, ultimately owned by Kanders & Co Inc. FRWD Co Bain & Co Inc Bain & Co Inc plans to acquire FRWD Co, a Minneapolis-based provider of marketing consulting services. Integra Realty Resources Inc-Offices(2) BBG Advisory Services LLC BBG Advisory Services LLC acquired 2 offices from Integra Realty Resources Inc, a New York-based provider of commercial real estate valuation and consulting services. Flocku LLC Becker Associates LLC Becker Associates LLC acquired Flocku LLC, an advertising agency. Flats at Bethesda Avenue BlackRock Real Asset Equity Trust BlackRock Real Asset Equity Trust acquired Flats at Bethesda Avenue, a Bethesda-based lessor of residential buildings and dwellings. LA Lacy Inc Branch Group Inc Branch Group Inc, a unit of Rexel SA, acquired LA Lacy Inc, a Charlottesville-based plumbing, heating and air-conditioning contractor. Domenick & Co Inc Bryn Mawr Trust Co Bryn Mawr Trust Co, a unit of Bryn Mawr Bank Corp, acquired Domenick & Co Inc, a Philadelphia-based insurance agency. Cornellcookson Inc Clopay Building Products Co Inc Clopay Building Products Co Inc plans to acquire Cornellcookson Inc, a Goodyear-based manufacturer of wood windows and doors. Brinker Brown Fastener & Supply Inc Colony Hardware Corp Colony Hardware Corp acquired Brinker Brown Fastener & Supply Inc, a Fort Myers-based hardware wholesaler. PDQ Billing Services Complete HealthCare Solutions Inc Complete HealthCare Solutions Inc acquired PDQ Billing Services, a Myrtle Beach-based provider of medical billing services. Avsi Group LLC Conference Technologies Inc Conference Technologies Inc acquired Avsi Group LLC, a Houston-based provider of computer systems design services. Austin Heart Vet PLLC CVCA Cardiac Care for Pets CVCA Cardiac Care for Pets merged with Austin Heart Vet PLLC, an Austin-based provider of veterinary services. Ac Hotel & Residence Inn Dallas By The Galleria DG Hotels Ventures LLC DG Hotels Ventures, an affiliate of Pacific Hospitality Group Ventures, acquired the 256-room dual-branded AC Hotel and Residence Inn Dallas by the Galleria in Dallas from Atlantic Hotels Group. Truck Centers of Arkansas Doggett Truck Group LLC Doggett Truck Group LLC, a unit of Doggett Machinery Services LLC, acquired Truck Centers of Arkansas, a North Little Rock-based truck dealer, for around $103 mil. Department of Veterans Affairs Outpatient Facility,San Jose,CA Easterly Government Properties Inc Easterly Government Properties, a real estate investment trust focused primarily on acquiring, developing and managing Class A commercial properties leased to the U.S. Government, announced that it has agreed to acquire a 90,085 sq ft outpatient clinic in San Jose leased to the Department of Veterans Affairs for an initial, non-cancelable lease term of 20 years through February 2038. Apartment Potfolio (3) Emma Capital Investments Inc Canada’s Emma Capital Investments Inc acquired three apartments for a total of $63.85 million. These consists of The Retreat Northwest, a 336-Unit Community located at 1130 Racquet Club Drive North, Indianapolis; The M Club Apartments (formerly Salem at 56), a 388-unit community located at 7007 Courthouse Drive, Indianapolis; and The Aura Apartments (formerly Courtyards at Kessler) in 3035 W. 39th St., Indianapolis BEN-E-LECT Employer Driven Insurance Services Inc Employer Driven Insurance Services Inc acquired BEN-E-LECT, a Visalia-based direct life insurance carrier. HNP Capital LLC Financial Institutions Inc Financial Institutions Inc definitively agreed to acquire HNP Capital LLC, a Pittsford-based intermediator. Phoenix Capital Group LLC Gulf Coast Bank & Trust Co,New Orleans,Louisiana Gulf Coast Bank & Trust Co acquired Phoenix Capital Group LLC, a Scottsdale-based provider of financial transactions services. 1stpoint Communications LLC Hammer Fiber Optics Holdings Corp Hammer Fiber Optics Holdings Corp plans to acquire the entire share capital of 1stpoint Communications LLC, a New York-based telecommunications reseller. Easy Truck Insurance Services Inc Hub International Ltd Hub International Ltd, a unit of Hellman & Friedman LLC, acquired Easy Truck Insurance Services Inc, a Vacaville-based insurance agency. Barnett Corporate Insurers LLC Hub International Ltd Hub International Ltd, a unit of Hellman & Friedman LLC, acquired Barnett Corporate Insurers LLC, a Memphis-based insurance agency. GoldenCare USA Inc Integrity Marketing Group LLC Integrity Marketing Group LLC, a unit of HGGC LLC, acquired GoldenCare USA Inc, a wholesaler of medical equipment and supplies. Newspace Inc Investor Group An investor group, comprising Monte Bordeaux and Jay Kamps, acquired Newspace Inc, a St. Louis-based provider of interior design services. Professional Publications Inc Kaplan Inc Kaplan Inc, a unit of Graham Holdings Co, acquired Professional Publications Inc, a Belmont-based book publisher. ServInt Corp LeaseWeb USA Inc LeaseWeb USA Inc, a unit of LeaseWeb BV, acquired ServInt Corp, a Reston-based provider of data processing and hosting services. Sterling Global Products LLC Liberated Energy Inc Liberated Energy Inc signed a letter of intent to acquire Sterling Global Products LLC, a Slidell-based manufacturer of eco-friendly hygiene products. Goldman Sachs Group Inc-Sentinel Lookingglass Cyber Solutions Inc

Lookingglass Cyber Solutions Inc acquired the Sentinel, a cyber security software developed in-house by Goldman Sachs Group Inc. In exchange, Goldman received an equity stake in Lookingglass.

Base Capital Lumni Lumni plans to acquire Base Capital, a provider of sales financing services. Pinnacle Orthopedics Montecito Medical Investment Co Montecito Medical Investment Co acquired Pinnacle Orthopedics, a Woodstock-based provider of ambulatory health care services. Space-Time Insight Inc Nokia Oyj Nokia Oyj of Finland acquired Space-Time Insight Inc, a San Mateo-based provider of custom computer programming services. Browning Productions & Entertainment Inc One Horizon Group Inc Intelligent Communication Enterprise Corp of Singapore, a unit of One Horizon Group Inc, plans to acquire an undisclosed majority interest in Browning Productions & Entertainment Inc, a Weston-based producer of motion pictures and videos. Mas Event Design LLC Opus Events Agency Opus Events Agency acquired Mas Event Design LLC, a Brooklyn-based event promoter. Boardprospects Inc Osprey Capital LLC Osprey Capital LLC plans to acquire Boardprospects Inc, a Boston-based internet service provider. Translations.com Inc Phil Shawe Phil Shawe acquired the remaining stake it does not already own in Translations.com Inc, a New York-based software publisher, for around $770 mil. Scott Felder Homes LLC Platform Ventures LLC Platform Ventures LLC acquired Scott Felder Homes LLC, an Austin-based home builder, from BR Homebuilding Group LP. The Tradition,College Station,TX Preferred Apartment Communities Inc Preferred Apartment Communities Inc acquired The Tradition, an apartment complex in College Station. SchoolLeader Procare Software LLC Procare Software LLC acquired SchoolLeader, an Orlando-based software publisher. Ptac Units PTAC Crew, LLC PTAC Crew, LLC acquired Ptac Units, a Phoenix-based manufacturer of air-conditioning equipment. Ace Flooring Co Inc QEP Co Inc QEP Co Inc acquired Ace Flooring Co Inc, a Moorpark-based provider of wood preservation services. Townecraft Inc. R2 Venture Solutions Inc R2 Venture Solutions Inc acquired Townecraft Inc. a Glen Rock- based commercial equipment merchant wholesaler. Alpha Advisors Inc(Michigan Physicians Mutual Liability) Riviera Partners Inc Riviera Partners Inc acquired Alpha Advisors Inc, a Chicago-based portfolio manager, from Michigan Physicians MutualLiability Inc. Baker Hughes Inc-AC Compressor Business Rotating Machinery Services Inc Rotating Machinery Services Inc acquired the AC compressor business of Baker Hughes Inc, a Houston-based manufacturer of oil and natural gas machinery owned by GE Oil & Gas, including the CONMEC Engineered Compressors business. Caid Industries Inc Samuel Son & Co Ltd Samuel Son & Co Ltd of Canada acquired Caid Industries Inc, a Tucson-based manufacturer of fabricated structural metal products. Savo Group Ltd Seismic Software Inc Seismic Software Inc definitively agreed to acquire Savo Group Ltd, a Chicago-based provider of custom computer programming services. GI Endurant LLC Shell New Energies US LLC Shell New Energies US LLC acquired GI Endurant LLC, a Chicago-based provider of engineering services. Hiptest SmartBear Software Inc SmartBear Software Inc, a unit of Francisco Partners LP, acquired Hiptest, a San Francisco-based provider of software testing services. Winshuttle Inc Symphony Technology Group LLC Symphony Technology Group LLC acquired Winshuttle Inc, a Bothell-based software publisher, via a leveraged buyout transaction. Loop Commerce Inc Synchrony Financial Synchrony Financial definitively agreed to acquire Loop Commerce Inc, a Menlo Park-based provider of digital and in-store gifting platform. Faraday Semi LLC TDK Corp TDK Corp of Japan acquired Faraday Semi LLC, a Laguna Niguel-based manufacturer of semiconductors and related devices. Vornado Air LLC ThreeSixty Group Ltd ThreeSixty Group Ltd, a unit of AEA Investors LP, acquired Vornado Air LLC, an Andover-based manufacturer of air purification equipment, from Waitt Co. Vuevent Inc. Trellissoft Engineering Services Pvt Ltd Trellissoft Engineering Services Pvt Ltd acquired Vuevent Inc., a Boulder-based software publisher. Leeco Industrial Plastics Inc Tritec Performance Solutions Tritec Performance Solutions acquired Leeco Industrial Plastics Inc, a Giddings-based manufacturer of plastics products. Aldez Containers LLC Tri-Wall Ltd Tri-Wall Ltd of Hong Kong, a unit of Rengo Co Ltd, acquired an 80% stake in Aldez Containers LLC, a Michigan-based provider of warehousing solutions. Fittery LLC Under 5’10 Under 5’10 acquired Fittery LLC, a Decatur-based apparel online retailer. Azarga Uranium Corp Urz Energy Corp Urz Energy Corp of Canada plans to merge with Azarga Uranium Corp, uranium, radium and vanadium ore mine operator. CHS Insurance Services LLC USI Insurance Services LLC USI Insurance Services LLC, jointly owned by KKR & Co LP and Caisse De Depot Et Placement du Quebec, acquired CHS Insurance Services LLC, an Inver Grove Heights-based insurance agency, from CHS Inc. Four Leaf Properties LLC-Manufactured Home Communities(24) Yes Communities Inc Yes Communities Inc acquired 24 manufactured home communities from Four Leaf Properties LLC. Prana Power Yoga’s three Boston-based studios YogaWorks Inc YogaWorks Inc, a unit of Great Hill Partners LP, acquired Prana Power Yoga’s three Boston-based studios, a Boston-based provider of instruction services. US M&A Deals Announced May 4 to 10, 2018 Source: Thomson Reuters

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