Dealytics Weekly M&A Review

Welcome to the Dealytics weekly review where we list a summary of the top M&A deals, announcements, insights from the previous week.

Edition 40

Top Deals

(May 23, 2024) HGCAPITAL LLP to acquire AuditBoard Inc., a leading connected risk and compliance platform, for a deal worth over $3 billion.

• 高盛 ( Kenneth Wang , Ward Waltemath , Todd Ebe , Branden Hurley , Pawan Tewari ) served as financial advisor to AuditBoard
• Cooley LLP ( Eric Jensen , Jodie Bourdet , Anne Lieberman , Jamie Leigh ) served as legal advisor to AuditBoard
• Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates ( Katja Butler , Annie Villanueva Jeffers , Richard Youle , Joseph Penko , Nathan Giesselman , Blair Thetford ) served as legal advisor to Hg Capital

(May 20, 2024) SouthState Bank to acquire Independent Bank Group Inc for 0.6 shares of SouthState Corp with an implied value of $48.51 representing a 10.4% premium totaling $2 billion.

• KBW ( Joe Gulash , Stephen Gunlock ) served as financial advisor to Independent Bank Group
• Wachtell, Lipton, Rosen & Katz ( Gregory Pessin , Richard K. Kim , Joshua Holmes , Steven Green , Michael Schobel , Jacob Kling ) and Haynie Rake Repass & Lowry PC ( Mark Haynie ) served as legal advisor to Independent Bank Group
• Raymond James & Associates, Inc. ( Brian Nestor , Chris Choate ) served as financial advisor to SouthState
• Davis Polk & Wardwell LLP ( Corey Goodman , Margaret Tahyar , Veronica Wissel , Evan Rosen , Gar Bason ) served as legal advisor to SouthState

(May 22, 2024) ADMIRAL ACQUISITIONS LLC to acquire ASP Acuren Holdings Inc. from American Securities LLC for $1.85 billion.

• Harris Williams & Co. ( Luke Semple , Drew Spitzer ), and Baird served as financial advisor to Acuren Holdings
• Weil, Gotshal & Manges LLP served as legal advisor to Acuren Holdings
• Jefferies ( Richard Burke , Matt Musa ) and 瑞银投资银行 served as financial advisor to Admiral Acquisition
• Latham & Watkins ( Brian Rock, Anna Ngo , Nicola Higgs , Jason Morelli , Jocelyn Noll, Ryan Maierson , Jesse Sheff ), and Greenberg Traurig, LLP ( Flora Perez , Dmitriy Tartakovskiy , Arleen Nand , James Mountain , Brian Gavsie , Alan Annex ) served as legal advisor to Admiral Acquisition
• Weil, Gotshal & Manges LLP ( David Avery-Gee , Sarah Flaherty , Ryan Taylor , Mike Lubowitz ) served as legal advisor to American Securities LLC

(May 20, 2024) Cyberark-software to acquire Venafi, a CyberArk Company Inc. from Thoma Bravo LP for $1.54 billion.

• 摩根士丹利 served as financial advisor to Cyberark Software
• Latham & Watkins ( Josh Dubofsky , Nathan Seltzer , Les Carnegie , Leah Sauter , Drew Levin , David Della Rocca , Antony ("Tony") P. Kim , Gail Crawford , Ian Conner , Jocelyn Noll, Jana Dammann de Chapto , Nineveh Alkhas , Sarah Gagan , Joshua Kiernan ) served as legal advisor to Cyberark Software
• Piper Sandler served as financial advisor to Thoma Bravo
• Kirkland & Ellis LLP ( Brett Nelson , Michael Keeley , Brian Ford , Adam Kool , Stephen Silva , Brad Reed , Aaron Lorber , Corey Fox ) served as legal advisor to Thoma Bravo

(May 22, 2024) Biogen Inc. to acquire Human Immunology Biosciences Inc. from Jeito Capital for $1.15 billion.

• Goldman, Sachs & Co. ( Ryan Fisk , Benjamin Wallace , Matthew Leskowitz ) and Bank of America Merrill Lynch served as financial advisor to Human Immunology Biosciences
• Goodwin Procter LLP ( Maggie W. , J. Scott Zilora, CFA , Jacqueline Klosek , Kevin Kabler , Matt Wetzel , Julie Tibbets , Sarah Stoiber , Amanda Gill , Grace Wirth , Daniel Karelitz, Arman Oruc , Kingsley Taft , Laura Umbrecht Gulick ) served as Human Immunology Biosciences
• Covington & Burling LLP ( Michael Riella , Catherine Dargan ) served as legal advisor to Biogen Inc.

(May 20, 2024) Saltchuk Resources Inc. to acquire Overseas Shipholding Group for $8.50 per share in cash representing a 36% premium totaling $950 million.

• Evercore Inc. ( Mark Friedman, Graham Landy , Jack Eshelman ) served as financial advisor to Overseas Shipholding Group
• Fried Frank , Harris, Shriver & Jacobson LLP ( Nathaniel Asker , Jason Ertel , Michael Alter, Ryan Messier , Philip Richter ) served as legal advisor to Overseas Shipholding Group
• BDT & MSD Partners served as financial advisor to Saltchuk Resources
• K&L Gates LLP ( Michelle McCreery , CJ Voss ) served as legal advisor to Saltchuk Resources

(May 24, 2024) Coventry Building Society to acquire The Co-operative Bank plc for $832.83 million.

• Fenchurch Advisory Partners Ltd. ( Kunal Gandhi , Aleem Meghji , Tom Murphy ) and PJT Partners Inc. ( Basil Geoghegan , Constantino Alvarez del Río , Marco Raimondo ) served as financial advisors to Co-operative Bank
• 普衡律师事务所 LLP served as legal advisor to Co-operative Bank
• 摩根大通 ( Claire Brooksby ) served as financial advisor to Coventry Building Society
• Addleshaw Goddard LLP and 富而德律师事务所 LLP served as legal advisors to Coventry Building Society

(May 21, 2024) Advanced Energy Industries GmbH Inc. offered to acquire XP Power Ltd. for $24.77 per share in cash representing a 68% premium totaling $725.39 million.

• 汇丰 Holdings plc ( Anthony Parsons , Frank Ehrlich , Alex Thomas ) and 摩根大通 ( Drago Rajkovic, James Robinson , Richard Walsh ) served as financial advisors to Advanced Energy Industries

(May 20, 2024) Phillips 66 Co. to acquire Pinnacle Midstream II LLC from Energy Spectrum Capital LP for $550 million.

• Jefferies LLC served as financial advisor to Pinnacle Midstream
• Locke Lord LLP ( Eric Larson, Sara Longtain , Laura L. Ferguson , Gerald Higdon , Andrew Capalbo , Van Jolas , Mark Backofen , Jennie Simmons , Bill Swanstrom ) served as legal advisor to Pinnacle Midstream

(May 21, 2024) MasterBrand, Inc. to acquire Supreme Cabinetry Brands Inc. from GHK Capital Partners LP for $520 million

• Jefferies LLC and Harris Williams & Co. served as financial advisors to Supreme Cabinetry Brands
• Davis Polk & Wardwell LLP ( Adam Kaminsky , Ethan Goldman , Jesse Solomon , Frank Azzopardi , John Amorosi ) and Fredrikson & Byron, P.A. served as legal advisor to Supreme Cabinetry Brands
• Rothschild & Co served as financial advisor to MasterBrand Inc
• Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates ( Raquel Fox , David Wales , Annie Villanueva Jeffers , Marie Gibson , Nesa Amamoo ) served as legal advisor to MasterBrand Inc