Update: Transportation and Logistics M&A Update – February, 2022

February, 2022

In 2021, median transaction value in Transportation & Logistics rose sharply to $60 million, from $18 million in 2020. In 2021, strategic buyers accounted for 82% of transactions, declining from 87% in 2020.

Select recent notable publicly announced M&A transactions:

– Ryder System closed its acquisition of Whiplash for $480 million in December 2021.

– Knight-Swift Transportation closed its acquisition of RAC MME Holdings for $150 million in December 2021.

– Werner Enterprises closed its acquisition of NEHDS Logistics for $64 million in November 2021.

– CAE closed its acquisition of the AirCentre Airline Operations Portfolio of Sabre Corporation for $393 million in October 2021.

– Flix Mobility closed its acquisition of Greyhound Lines for $202 million in October 2021.

Update: Technology and Software M&A Update – February, 2022

February, 2022

In 2021, median transaction value in Tech & Software climbed to $53 million, from $33 million in 2020. In 2021, strategic buyers accounted for 92% of transactions, rising slightly from 91% in 2020.

Select recent notable publicly announced M&A transactions:

– Allied Motion Technologies closed its acquisition of Spectrum Controls for $70 million in December 2021.

– Denver Acquisition Corp. closed its acquisition of Ampere Computing Holdinngs for $128 million in December 2021.

– Matterport Operating closed its acquisition of Enview for $74 million in December 2021.

– Rocket Companies closed its acquisition of Truebill for $1.3 billion in December 2021.

– Thoma Bravo closed its acquisition of Bottomline Technologies for $2.7 billion in December 2021

Update: Infrastructure M&A Update – February, 2022

February, 2022

In 2021, median transaction value in Infrastructure climbed to $53 million, from just $18 million in 2020. In 2021, strategic buyers accounted for 89% of transactions, rising slightly from 88% in 2020.

Select recent notable publicly announced M&A transactions:

– PotlatchDeltic Corporation closed its acquisition of Loutre Land and Timber Company for $116 million in December 2021.

– Black River B 2017 closed its agreement to acquire a 10% stake in Sempra Global for $1.8 billion in December 2021.

– MasTec closed its acquisition of Henkels & McCoy Group for $593 million in December 2021.

– DMC Korea Inc. closed its acquisition of Machine Specialties, Inc. for $283 million in December 2021.

– West Indies Petroleum, Port Hamilton Refining and Transportation closed its acquisition of Limetree Bay Terminals for $62 million in December 2021.

Update: Industrials and Manufacturing M&A Update – February, 2022

February, 2022

In 2021, median transaction value in Industrials & Manufacturing climbed to $46 million, from $24 million in 2020. In 2021, strategic buyers accounted for 89% of transactions, rising from 90% in 2020.

Select recent notable publicly announced M&A transactions:

– TestEquity & GE Supply Logistics closed its acquisition of Lawson Products for $581 million in December 2021.

– Holcim Group Services closed its acquisition of Malarkey Roofing Products Co. for $1.4 billion in December 2021.

– MasTec closed its acquisition of Henkels & McCoy Group for $593 million in December 2021.

– Dover Corporation closed its acquisition of Acme Cryogenics for $295 million in December 2021.

– OPW Fueling Components closed its acquisition of Engineered Controls International for $631 million in December 2021.

Update: Healthcare M&A Update – February, 2022

February, 2022

In 2021, median transaction value in Healthcare climbed to $42 million, from $28 million in 2020. In 2021, strategic buyers accounted for 91% of transactions, remaining flat from 2020.

Select recent notable publicly announced M&A transactions:

– Essity closed its acquisition of Hydrofera for $131 million in December 2021.

– Select Medical Corporation closed its acquisition of Concentra Group Holdings for $626 million in December 2021.

– Quidel Corporation closed its acquisition of Ortho Clinical Diagnostics for $8.4 billion in December 2021.

– UFP Technologies closed its acquisition of DAS Medical Holdings for $95 million in December 2021.

– Getinge closed its acquisition of Talis Clinical for $65 million in December 2021.

Update: Food and Beverage M&A Update – February, 2022

February, 2022

In 2021, median transaction value in Food & Beverage climbed to $40 million, from $20 million in 2020. In 2021, strategic buyers accounted for 83% of transactions, decreasing from 91% in 2020.

Select recent notable publicly announced M&A transactions:

– Nexus Capital Management closed its acquisition of the Natural Beverages and Grains Businesses of The J. M. Smucker Company for $110 million in December 2021.

– The Hain Celestial Group closed its acquisition of That’s How We Roll for $259 million in December 2021.

– Taylor Farms Retail closed its acquisition of the Fresh Packaged Salads and Vegetables Business of Curation Foods for $74 million in December 2021.

– Treasury Wine Estates closed its acquisition of Frank Family Vineyards for $315 million in November 2021.

– Utz Brands closed its acquisition of R.W. Garcia Co. for $56 million in November 2021.

Update: Automotive M&A Update – February, 2022

February, 2022

In 2021, median transaction value in Automotive declined to $21 million, from $26 million in 2020. In 2021, strategic buyers accounted for 94% of transactions, an increase from 93% in 2020.

Select recent notable publicly announced M&A transactions:

– World Fuel Services closed its acquisition of Flyers Energy for $775 million in October 2021.

– Brown & Watson International closed it acquisition of Vision X USA for $71 million in October 2021.

– AFV Partners closed its acquisition of Canoo for $230 million in October 2021.

– LMP Automotive Holdings closed its acquisition of Alan Jay Automotive Management for $118 million in September 2021.

– Ideanomics closed its acquisition of VIA Motors for $551 million in August 2021

Update: Consumer and Retail M&A Update – February, 2022

February, 2022

In 2021, median transaction value in Consumer & Retail rose to $24 million, compared to $20 million in 2020. In 2021, strategic buyers accounted for 90% of transactions, flat from the same portion in 2020.

Select recent notable publicly announced M&A transactions:

– Skillsoft Corp. closed its acquisition of Ryzac for $525 million in December 2021.

– Shoe Carnival closed its acquisition of Shoe Station in December 2021.

– Best Buy closed its acquisition of Two Peaks in November 2021.

– Franchise Group closed its acquisition of W.S. Badcock Corporation in November 2021.

– Durational Capital Management closed its acquisition of Casper Sleep in November 2021.

Peakstone Advises Big Red Rooster Flow on Sale to Marmon Holdings, a Berkshire Hathaway Company

January, 2022. Peakstone served as the exclusive advisor to Big Red Rooster Flow, LLC on its sale to Marmon Holdings, Inc., a Berkshire Hathaway Company (“Marmon”).

Big Red Rooster Flow is a leading process management company with resources and technology dedicated specifically to helping retailers manage their customer-facing images and brands. Rob Mead and Brian Wendt founded the company in 2009 and quickly built it into one of the most successful brand and project management companies in the United States.

In commenting on the transaction, Rob Mead said, “This strategic combination with Marmon will enhance our resources, capabilities and relationships in the important industry sectors we serve today as well as help accelerate our expansion into other highly attractive and rapidly growing end markets.”

Rob also said, “Our experience working with the Peakstone team as advisors on this transaction was extraordinary. Andy Savarie, who led our Peakstone team, worked tirelessly to guide us through all the intricacies of the transaction process and always protected our interests. His knowledge and understanding of our business, the nuances of the process, and the enormous opportunities we had before us were paramount to achieving a successful outcome.”

Brian Wendt added, “I feel fortunate to have had the opportunity to work with Peakstone and Andy in particular. We would not have been able to navigate the arduous process, nor would we have achieved such a wonderful outcome for both Big Red Rooster Flow and Marmon without Peakstone and Andy’s insightful guidance and stewardship.”

For additional information please contact:

Andy Savarie, Managing Director, 312-560-5199, asavarie@peakstone.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars.

Peakstone Arranges Financing for Deli Star

January, 2022. Peakstone served as exclusive investment banking advisor to Deli Star Corporation in its loan capital raise from Proterra Investment Partners.

Founded in 1987, Deli Star is a leading innovative protein ingredient supplier. In January 2021, Deli Star’s plant was destroyed in a fire.  The new capital will enable Deli Star to open a new headquarters and state-of-the-art production facility located in St. Louis, Missouri. The new facility substantially increases the company’s production capacity, positioning Deli Star for its next decade of growth.Justin Siegel, CEO of Deli Star, noted, “This has been a uniquely challenging year for Deli Star, as we’ve worked to continue serving our customers and navigate this extraordinary disruption. With Peakstone’s strong advisement, hard work, patience, and due diligence, we were able to complete this important transaction. We are very excited to partner with Proterra, as their deep knowledge of food processing enabled them to structure the right transaction.”Matthew Swanson, Managing Director of Proterra Investment Partners, said, “Our financing positions Deli Star to capitalize on its core strength of delivering healthy, innovative, high-quality proteins to its customers, and we look forward to partnering with the company as they complete the build out of their new state-of-the-art facility.”

For additional information please contact:Cathy Jaros, Managing Director, 847-922-8629, cjaros@peakstone.comPeter Melloni, Managing Director, 630-664-3457, pmelloni@peakstone.comJeff Temple, Managing Partner, 312-346-7301, jtemple@peakstone.com

About Peakstone

Peakstone is a leading investment bank that specializes in mergers and acquisitions, advisory, and capital raising for middle market clients. Our team is comprised of senior investment banking professionals who have decades of experience and have executed hundreds of transactions totaling billions of dollars. For additional information, visit www.peakstone.com. To receive investment and proprietary acquisition opportunities, please register at www.peakzone.com.About Deli Star Corporation

Your Protein Ingredient Partner Deli Star was founded in 1987 and has become leaders in culinary innovation. Deli Star produce proteins that are rich in flavor, healthy, and minimally processed. Through responsible sourcing and food science lens Deli Star achieves the highest level of food quality and safety, with products that have a 120-180 day fresh product shelf-life with the use of any preservatives. It is committed to discovering new and better ways of innovating food products that promote healing through human nutrition www.delistarcorp.com.About Proterra Investment PartnersProterra Investment Partners is a global alternative investment manager focused on private equity and credit investments in the natural resource sectors of agriculture, food, and metals and mining. Proterra’s credit strategy specializes in direct lending to middle-market food and agribusiness companies in the United States, providing flexible, time-sensitive financing solutions to vertically integrated companies, processors and branded food companies www.proterrapartners.com.