Missouri M&A Update

 

9-June-2021

Talema Group was acquired by Kamic Group for an undisclosed amount on June 9, 2021.

Talema Group is a manufacturer and supplier of toroidal transformers and related magnetic components in Rolla, Missouri. The company with its manufacturing facilities, qualified technical and engineering expertise and skilled workforce has managed to deliver custom transformers for markets such as automotive, professional audio, medical, security, instrumentation, helping customers with quality product design and competitive cost.
 
The acquisition will bring experienced and powerful management and the company’s customer base and geographic presence will provide an ideal complement to Kamic’s existing business in this area.

7-June-2021

Sachs Electric Company enters into an agreement to be acquired by its management and One Rock Capital Partners  through an LBO on June 7, 2021.

Sachs Electric Company is the operator of an electrical and technology construction firm. The company specializes in national electrical contracting, communications, instrumentation and engineering serving the United States, Canada and Puerto Rico.

1-June-2021

Mueller Prost was acquired by Wipfli for an undisclosed amount on June 1, 2021.

Mueller Prost is a provider of accounting services catering to the health care, manufacturing and distribution, nonprofit, real estate and construction industries. The company specializes in offering a full range of professional tax, audit, accounting, and consulting services, enabling clients to maintain a competitive advantage while getting assistance throughout each phase of the business life cycle.
 
The acquisition enables Wipfli to expand its presence into Missouri and Southern California while expanding its talent base in India and adding deep knowledge and expertise in several key industry verticals.

1-June-2021

UTXL was acquired by Knight-Swift Transportation for $22.5 million on June 1, 2021.

UTXL is a provider of third-party logistics based in Kansas City, United States. The company specializes in over-the-road full truckload and multi-stop loads trucking services throughout the US, Canada, and Mexico by connecting niche carriers to the transportation marketplace, thereby offering responsive, dependable, seamless service to all of its shipping customers.
 
The acquisition expands Knight-Swift’s transportation service offerings.

26-May-2021

Bancsource was acquired by Cennox, via its financial sponsor BGF, through an LBO on May 26, 2021.

Bancsource is a provider of banking equipment, services and supplies catering to financial institutions. The company focuses on the sale, installation, service and support of custom hardware and software solutions for banking companies, helping them improve the speed, accuracy and reliability of the services it gives to its customers including designing of high-level stocked parts for better responsiveness and reliability.
 
The deal enables Cennox to expand their operations across the United States and further build on their extensive field service programs for their customers.

25-May-2021

American Construction Source to be acquired by US LBM Holdings, via its financial sponsor Bain Capital, through an LBO on May 25, 2021.

American Construction Source is an operator of a holding company serving as a lumber and building materials (LBM) distribution platform. The company seeks to strengthen and expand the company’s core business through acquisitions and provides lumber and building materials (LBM) businesses the resources, leverage and focus to cater to the needs of custom home builders, repair and remodel contractors, and do-it-yourself homeowners.

21-May-2021

Kansas City Southern to be acquired by Canadian National Railway (TSE: CNR) for $34.6 billion on May 21, 2021.

Kansas City Southern (NYS: KSU), the smallest Class I railroad, derives about half of its $2.6 billion revenue on 3,400 miles of track in the Central and Southern United States. CS’ freight includes industrial and forest products (around 21% of total revenue), chemicals and petroleum (26%), agriculture and minerals (18%), intermodal (13%), energy (9%), and autos (9%); other revenue stems from switching, demurrage, and the like.
 
The company will receive a contingent payout of $1 billion if the U.S. Surface Transportation Board (STB) rejects a voting trust structure it has put forward to complete the deal. The acquisition will create a North American railway spanning the United States, Mexico and Canada. 

21-May-2021

Zaarly was acquired by Airtasker (ASX: ART) for $3.4 million on May 21, 2021.

Zaarly is a developer of a proximity-based marketplace designed to offer home-maintenance jobs and projects. The company’s marketplace of vetted small businesses provides home service, including selection, communication, scheduling, payment, reviews and repeat work, enabling long-term partners for homeowners, service providers and real estate brokers to provide a better client experience.

17-May-2021

Aegion was acquired by New Mountain Capital through a $995 million public-to-private LBO on May 17, 2021.

Aegion Corp operates in the infrastructure protection and maintenance sector. The company has three segments. The infrastructure solutions segment primarily provides rehabilitation and maintenance services for infrastructure projects. The corrosion protection segment performs maintenance, rehabilitation, and corrosion protection services for oil and gas, industrial, and mineral piping systems and structures, in addition to supplying products for gas release and leak detection systems. The energy services segment provides engineering, procurement, construction, maintenance, and turnaround services, primarily for the oil and gas industry. The company generates the majority of its sales from the North American market.
 
Jefferies, Credit Suisse, MUFG Bank, Sumitomo Mitsui Financial group, KeyBank and Deutsche Bank provided $725 million debt financing in the form of a $75 million revolving credit line and a $675 million first lien term loan to support the transaction.

17-May-2021

Transaction Data Systems was acquired by BlackRock through an LBO on May 17, 2021 for an undisclosed sum.

Transaction Data Systems is a developer of pharmacy management systems and clinical applications for single, multi-site, assisted living and hospital pharmacies. The company’s platforms offer insights, analytics, clinical opportunities, insurance claims processing, e-prescription connectivity, pharmacy workflow management services, thereby helping clients improve operations and workflow, expand their businesses, bolster their data analytics, increase patient engagement and drive better healthcare outcomes

17-May-2021

Contractors and Municipal Sweeping Service was acquired by Sweeping Corporation of America, via its financial sponsor Warburg Pincus, through an LBO on May 17, 2021 for an undisclosed sum.

 
Contractors and Municipal Sweeping Service is a provider of street sweeping services to municipalities and private contractors in the Saint Louis Metropolitan area. The company offers construction site clean-up, water truck cleaning, vacuum sweeping and site maintenance, helping its clients maintain a hygienic environment to work in.

13-May-2021

Westfall GMC Truck, Inc. reached a definitive agreement to be acquired by Nextran for an undisclosed amount on May 13, 2021. 

Westfall Gmc Truck is a provider of commercial trucks and parts based in Kansas City, Missouri. The company offers used and fresh light, medium, and heavy-duty trucks, as well as offers parts and services for the said trucks. The acquisition expands Nextran’s footprint from current 18 locations across the Southeast to further locations of the region.

12-May-2021

Bradford & Galt was acquired by Ettain Group, via its financial sponsor A&M Capital, through an LBO on May 12, 2021 for an undisclosed sum.

 

Bradford & Galt is a provider of IT services intended for forming a business model that allows for the deployment of IT talent and services. The company provides project staffing, consulting services, site management and EMR go-live support and training, thereby delivering client-centric, flexible and customized services to customers.

10-May-2021

Spartech was acquired by The Jordan Company through an LBO on May 10, 2021 for an undisclosed sum.

 

Spartech is a manufacturer of engineered thermoplastic materials and specialty packaging products for agriculture, aerospace, construction and automotive sectors. The company offers custom plastic sheets, extruded sheets, cell cast acrylic sheets, specialty film laminates and thermoformed packaging products, tanning bed shields, transparent ballistic enclosures, plastic sheet packaging material and roll stock products utilizing a wide breadth of highly technical manufacturing processes and polymer material science capabilities.

4-May-2021

C.L. Smith was acquired by Inmark, via its financial sponsor Kelso Private Equity, through an LBO on May 4, 2021 for an undisclosed sum.

 
C.L. Smith is a manufacturer and distributor of rigid plastic products based in St. Louis, Missouri. The company manufactures plastic bottles & jars, squeeze tubes, tubs, pails and also offers custom packaging design and manufacturing, and turnkey hazardous material shipping solutions.

4-May-2021

Pivvot was acquired by Terracon Consultants for an undisclosed amount on May 4, 2021. 

 
Pivvot is a developer of a cloud-based platform designed to empower organizations to navigate regulatory compliance and reduce operational risk. The company’s platform offers a technology that securely connects people, information and systems to critical infrastructure assets and the world around them, enabling users to visualize assets, analyze critical data, manage projects and share information with multiple users at once.