Q-News

July 2011

M&A News - June 2011

Posted in M&A News

We only came across three private M&A deals this June and all of them were cross-border transactions.  It is the lowest deal total that we have reported since October 2010, when we also saw only three transactions.  Two of the deals involved a Canadian player acquiring a US company.  One of the Canadian acquirers was a strategic while the other was a financial buyer.   The third deal was a distressed sale involving a UK-based vulture fund and the Canadian unit of a once mighty retail chain.    

Cross Border M&A

Oncap Management Partners, an Onex Corporation fund, acquired Hopkins Manufacturing, a Kansas-based company that designs and manufactures branded automotive aftermarket products like booster cables and towing accessories.  Hopkins was acquired from Friend Skoler & Co, a private equity firm based in New Jersey. Terms of the transaction were not disclosed.

Artissimo Holdings, a Montreal-based designer and manufacturer of ready-to-hang wall décor, has acquired LOT 26, a San-Francisco-based producer of adhesive wall décor products.  Terms of the transaction were not disclosed.

HMV Canada, the Canadian subsidiary of the British music retailer, has been acquired for $3.2 million by Hilco UK, a UK-based restructuring firm.  As part of the restructuring, Hilco UK will put $25 million into the company in order to finance its working capital requirements.  The surviving management team plans to expand the product offering at the company’s 121 retail locations while also ramping up its digital sales.

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