DealFlow: M&A roundup for 10.14.11

DealFlow is a monthly BizSense data section tracking all the recent IPOs, M&As or capital raises in which local firms — investment banks, private equity, venture capital, etc. — had a hand. DealFlow also highlights local businesses that have raised capital on their own or been party to a merger or acquisition. To make sure your deal is included in the monthly roundup, email [email protected]

Chemtech Distribution & Service
Richmond-based Chemtech, a hygiene and chemicals company, along with its Wisconsin sister company Midwest Alchemist, were acquired by Swisher Hygiene Inc.
Transaction value: $357,000 in cash, plus other considerations
Transaction announced: Sept. 23

Power Holdings Inc.
Richmond-based Power Holdings Inc., the parent company of Power Distribution Inc., was acquired by Smiths Interconnect. Smiths is a division of London-based engineering firm Smiths Group. Power Holdings was previously owned by Betram Growth Capital I LLP, a California-based private equity firm.
Transaction value: $235 million
Transaction announced: Sept. 2

The Hilb Group
The Glen Allen-based insurance brokerage acquired local insurance agency Venture Specialty Insurance.
Transaction value: Not disclosed
Transaction announced: Sept. 15

Richmond Cold Storage
The 105-year old Richmond company was acquired by San Francisco-based investment firm Bay Grove Capital. RCS had been owned by Atlanta Equity Investors.
Transaction value: Not disclosed
Transaction announced: Oct. 10

Transact Capital Partners
The local investment banking firm acquired neighboring firm Alpha Omega Capital Partners.
Transaction value: Not disclosed
Transaction announced: Sept. 18

Anderson Strudwick
A letter of intent was announced for Anderson Strudwick to be acquired by Alabama-based Sterne Agee.
Transaction value: Not disclosed
Transaction announced: Oct. 5

Cary Street Partners
Cary Street Partners served as exclusive financial adviser to Allred Metal Stamping Works, Inc. in its recapitalization led by management and investors. Allred provides stock and custom metal stamping services and is headquartered in High Point, N.C.
Transaction value: not disclosed
Transaction announced: Sept. 30

Harris Williams & Co.
Harris Williams’s Richmond office advised GSO Capital Partners on its pending sale of Colorado-based Stolle Machinery to Toyo Seikan Kaisha, Ltd. GSO is a subsidiary of the Blackstone Group. The transaction is Harris Williams’s third sale to a Japanese buyer in six months. Mike Hogan, Chris Williams, John Arendale, Jershon Jones and Karl Kirkeby worked the deal for Harris Williams.
Transaction value: $775 million
Transaction announced: Oct. 3

Harris Williams’s London office advised August Equity on the sale of its U.K. portfolio company Planit to Vero Software. Thierry Monjauze, Red Norrie, Eric Logue and Sylvain Noblet led the deal from Harris Williams’s London Technology, Telecom, & Digital Media Group.
Transaction value: Not disclosed
Transaction announced. Oct. 3

Harris Williams advised T2 Systems as it received an investment from Charlotte-based Pamlico Capital. The transaction was led by Jeff Bistrong, Garin Arevian and Rahul Swani from Harris Williams’s Technology, Telecom & Digital Media Group.
Transaction value: Not disclosed
Transaction announced: Oct. 3

BB&T Capital Markets
BBTCM served as exclusive financial adviser to the board of directors of XPO Logistics as it received an equity investment from Jacobs Private Equity and other minority co-investors. Frank F. Mountcastle III, Jason D. Bass, W. Keith Prusek, Hugh K. Rabb and Sean Kelley worked the deal from Richmond.
Transaction value: $150 million
Transaction announced: Sept. 26

BBTCM served as exclusive financial adviser to Prime Distribution Services on its sale to Roadrunner Transportation Systems. Prime had been a portfolio company of Mason Wells and MRH Holdings. To fund the transaction, RRTS expanded its credit facility to $240 million. BB&T Corp. committed $30 million to the new facility. Frank F. Mountcastle III, Jason D. Bass, Hugh K. Rabb, W. Keith Prusek, Jeffrey G. Kidd and Seth A. Berman worked the deal for BBTCM’s Richmond office.
Transaction value: $97.5 million
Transaction announced: Sept. 21

BB&T Capital Markets served as financial adviser to Connecticut-based Clearview Capital on its acquisition of Child Health Holdings (d/b/a Pediatric Health Choice). Michael J. Weber, Nick S. Konstantinou, James A. Gilmore and Daniel A. Bacon worked the deal for BB&T from the Richmond.
Transaction value: Not disclosed
Transaction announced: Sept. 12

BBTCM served as financial adviser to Orthotic Holdings Inc. in its acquisition of Arizona AFO Inc. Orthotic is a portfolio company of Incline Equity Partners. Michael J. Weber, Nick S. Konstantinou, Phillip R. Knotts and Baiyin Zhou worked the deal from Richmond.
Transaction value: Not disclosed
Transaction announced: Oct. 3

Michael Schwartz is a BizSense reporter. Please send news tips to [email protected]

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