Notable Mergers and Acquisitions of the Day 05/14: (SNA) (INTL) (HCLP)
Tweet
Share
E-mail
Get Alerts SNA Hot Sheet
Join SI Premium – FREE
* Snap-On, Inc. (NYSE: SNA) acquired Challenger Lifts, Inc. for approximately $38 million in cash. Challenger, with 2012 sales of approximately $45 million, designs, manufactures and distributes a comprehensive line of vehicle lifts and accessories to a diverse customer base in the automotive repair sector.
* INTL FCStone Inc. (Nasdaq: INTL) has agreed with Cleartrade Exchange (CLTX) to acquire immediate voting control and the right to acquire up to 90% of equity interest over a five-year period. Completion of this transaction is subject to final stages of due diligence and fulfillment of certain conditions.
* Hi-Crush Partners LP (NYSE: HCLP) entered into a definitive agreement to acquire independent frac sand distributor D&I Silica, LLC (D&I), transforming Hi-Crush into an integrated producer, transporter, marketer and distributor of high-quality Northern White frac sand.
Under the terms of the agreement, Hi-Crush will acquire D&I for $95 million in cash and 1.579 million units priced at $19 for total consideration of approximately $125 million. The combination of Hi-Crush and D&I is expected to be completed during the second quarter of 2013, subject to regulatory approval and customary closing conditions. The combined company`s pro forma 2012 revenues would be approximately $180 million, with $66 million of operating income and operating income margins of approximately 37%.
To keep up on all the Mergers & Acquisitions data in real-time, go to our M&A Insider page.
* INTL FCStone Inc. (Nasdaq: INTL) has agreed with Cleartrade Exchange (CLTX) to acquire immediate voting control and the right to acquire up to 90% of equity interest over a five-year period. Completion of this transaction is subject to final stages of due diligence and fulfillment of certain conditions.
* Hi-Crush Partners LP (NYSE: HCLP) entered into a definitive agreement to acquire independent frac sand distributor D&I Silica, LLC (D&I), transforming Hi-Crush into an integrated producer, transporter, marketer and distributor of high-quality Northern White frac sand.
Under the terms of the agreement, Hi-Crush will acquire D&I for $95 million in cash and 1.579 million units priced at $19 for total consideration of approximately $125 million. The combination of Hi-Crush and D&I is expected to be completed during the second quarter of 2013, subject to regulatory approval and customary closing conditions. The combined company`s pro forma 2012 revenues would be approximately $180 million, with $66 million of operating income and operating income margins of approximately 37%.
To keep up on all the Mergers & Acquisitions data in real-time, go to our M&A Insider page.
Create E-mail Alert Related Categories
Special ReportsRelated Entities
Notable Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
