Author Archives: quazarAdmin

Jet Edge, Inc. Acquired By Spell Capital Partners, LLC

Acquisition Announcement

Quazar Capital Corporation is pleased to announce the sale of Jet Edge, Inc. (Jet Edge), a wholly owned subsidiary of JPK Inc., to Spell Capital Partners, LLC. Jet Edge, based in St. Michael, Minnesota, is a leading manufacturer of ultra-high pressure waterjet technology. This transaction reaffirms Quazar Capital’s experience with closely held Industrial Manufacturers, as well as its strong relationships in the Midwest.

Jet Edge Tombstone

Jet Edge, Inc., was acquired from Possis Corporation in 1994; it continuously invests in, and develops, new technology to stay at the forefront of the waterjet cutting industry. Today, the Company is a leading manufacturer of ultra-high pressure waterjet technology for companies around the world specializing in aerospace, automotive, food, and machine shop services. Jet Edge has maintained success through utilizing its talented workforce to maintain strong customer relationships and develop market leading technologies.

The Shareholders made a strategic decision to create liquidity and divest Jet Edge at this time. The Shareholders chose Quazar Capital as their M&A Advisor primarily due to Quazar Capital’s experience and reputation working with family owned businesses in the Manufacturing Industry.

“We are very excited about the future of Jet Edge. We chose Spell Capital because of their Midwest values and their ability to take the company to the next level. After many years of dedication and hard work, it is reassuring to see the employees in good hands with an exciting future ahead.” – Jude Lague, President of Jet Edge, Inc.

About Spell Capital Partners: Spell Capital Partners, LLC is an established manager of private equity and mezzanine funds. Spell Capital uses its deep expertise in acquisitions and financing to collaborate with management and grow the businesses in which it invests – both internally and through add-on acquisitions.


About Quazar Capital Corporation: Quazar Capital Corporation is a Minnesota Investment Banking Firm with over 25 years’ experience confidentially helping privately held companies with Mergers & Acquisitions, Recapitalizations, and Financial Advisory Services.

Transaction Team

Bruce Behm
President
bruceb@quazarcapital.com
Dan Hendel
Vice President
danh@quazarcapital.com
Brandon Wheeler
Analyst
Brandonw@quazarcapital.com

Press Release – Acquisition Annoucement

June 22, 2017

PRESS RELEASE

CONTACT:
Bruce Behm, President
Email: Bruceb@quazarcapital.com
Phone: (763) 550-9000

FOR IMMEDIATE RELEASE
Acquisition Announcement: Jet Edge, Inc. Acquired by Spell Capital Partners, LLC

MINNEAPOLIS, MN–Quazar Capital Corporation (www.quazarcapital.com) is pleased to announce that their client, Jet Edge, Inc., was acquired by Spell Capital Partners, LLC.

Jet Edge, Inc. (www.JetEdge.com) is a leading manufacturer of ultra-high pressure waterjet technology. Jet Edge’s systems are used around the world in a broad range of industries, from the world’s leading airlines to automotive, aerospace, and industrial manufacturers, and machine and job shops.

Spell Capital Partners (www.spellcapital.com) Spell Capital Partners, LLC is an established manager of private equity and mezzanine capital based in Minneapolis, Minnesota. They are engaged in the acquisition of controlling interests in well-managed, historically profitable, industrial manufacturing businesses.

Quazar Capital Corporation is a Minnesota Investment Banking Firm with over 25 years of experience confidentially helping privately held companies with Mergers and Acquisitions, Recapitalizations, and Financial Advisory Services.

No further details are available

M&A Update – 06/27/2017

EQT Corporation to Acquire Rice Energy

On June 19, 2017, EQT Corporation (NYSE: EQT) announced that it has entered into a definitive merger agreement with Rice Energy, Inc. (NYSE: RICE) under which EQT will acquire all of the outstanding shares of Rice common stock. EQT operates as an integrated energy company primarily focusing in the oil & gas exploration and production sector. Rice Energy is an independent natural gas and oil company that engages in the acquisition, exploration, and development of natural gas, oil, and natural gas liquid (NGL) properties in the Appalachian Basin. The acquisition between EQT and Rice Energy will make EQT the largest natural gas producer in the United States.
Under the terms of the agreement, EQT will acquire all of the outstanding shares of Rice common stock for a total consideration of approximately $6.7 billion, which consists of 0.37 shares of EQT common stock and $5.30 in cash per share of Rice common stock. Additionally, EQT will also assume or refinance approximately $1.5 billion of net debt and preferred equity. The transaction is expected to close in the fourth quarter of 2017.
Read the full press release at www.riceenergy.com


Below are highlights of additional Merger and Acquisition activity from the last week:

Biopharmaceutical M&A News: PAREXEL International Corporation (NASDAQ: PRXL), a leading global biopharmaceutical services provider, has entered into a definitive agreement under which PAREXEL will be acquired by Pamplona Capital Management, LLP (Pamplona). Under the terms of the agreement, Pamplona will acquire all the outstanding shares of PAREXEL for $88.10 per share in cash, which values the transaction valued at approximately $5.0 billion.
Read more at www.parexel.com

Application Software M&A News: On June 22, 2017, EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of demand response solutions and energy intelligence software, announced that it has entered into an agreement to be acquired by Enel Group (“Enel”). Enel is a multinational power utility and leading integrated electricity and gas operator in over 30 countries. Under the terms of the agreement, Enel will acquire EnerNOC for $7.67 per share in an all-cash transaction, valuing the transaction at over $300 million.
Read more at www.enernoc.com

Mechanical Contractor M&A News: On June 22, 2017, Gemspring Capital announced that it has acquired Therma Corporation, a leading full-service design-build specialty mechanical contractor that focuses on HVAC, high purity process piping, and process controls for cleanrooms, laboratories, and high-tech manufacturing facilities.
Read more at www.www.therma.com

M&A Update – 06/20/2017

Amazon announces it will acquire Whole Foods Market

On June 16, 2017, Amazon (NASDAQ: AMZN) and Whole Foods Market, Inc. (NASDAQ: WFM) announced they have entered into a definitive agreement under which Amazon will acquire Whole Foods Market for approximately $13.7 billion. Whole Foods Market is one of the leading natural and organic foods supermarket that has more than 460 stores in the United States and had sales of approximately $16 billion, in 2016. According to Fortune’s 2017 world’s most admired companies, Whole Foods Market and Amazon ranked number 28 and number 2, respectively. According to John Mackey, Whole Foods Market co-founder and CEO;
“This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience, and innovation to our customers.”
Under the terms of the Agreement, Whole Foods Market will continue to operate stores under the Whole Foods brand. Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction, which values the total transaction at approximately $13.7 million, including Whole Foods Market’s net debt. The transaction is expected to close during the second half of 2017.
Read the full press release at www.amazon.com


Below are highlights of additional Merger and Acquisition activity from the last week:

Information Technology M&A News: On June 13, 2017, Cognizant (NASDAQ: CTSH) announced that it has entered into a definitive agreement under which Cognizant will acquire TMG Health, a subsidiary of Health Care Service Corporation (HCSC). TMG Health is the leading national provider of Business Process Outsourcing solutions for Medicare Advantage, Medicare Part D, and Managed Medicaid plans. TMG Health will enter into a new, expanded, multi-year service agreement to continue providing information technology, business process and other services to HCSC’s various operating units and subsidiaries. The transaction is expected to close in the third quarter of 2017.
Read more at www.cognizant.com

Leisure Products M&A News: On June 19, 2017, Hayward Industries, Inc. (“Hayward”) announced that it has entered into a definitive agreement with a partnership led by CCMP Capital Advisors, LP (“CCMP”) and MSD Partners, L.P. (“MSD Partners”). Under the agreement, CCMP and MSD Partners will acquire Hayward. Hayward is a leading global manufacturer of residential and commercial pool equipment.
Read more at www.hayward-pool.com

Energy Services M&A News: On June 19, 2017, Enerflex LTD (TSX: EFX), through its USA entity Enerflex Energy Systems, Inc. (“Enerflex”), announced that it has entered into a definitive agreement with Mesa Compression, LLC (“Mesa”), under which Enerflex will acquire Mesa for $106 million in cash. Enerflex is a single source supplier of natural gas compression, oil and gas processing, refrigeration systems, and electric power generation equipment.
Read more at www.enerflex.com

M&A Update – 06/12/2017

Below are noteworthy Merger and Acquisition activity from the last week:

Life Sciences M&A News: On June 06, 2017, Albany Molecular Research, Inc. (NASDAQ: AMRI), a global contract research, development, and manufacturing organization working in the life sciences industry, announced that it had signed a definitive agreement to be acquired by affiliates of The Carlyle Group (“Carlyle”) and GTCR LLC (“GTCR”). Under the agreement, both Carlyle and GTCR will acquire AMRI for $21.75 per share in cash, which represents a 42% premium to the 60-day weighted average closing price (ending April 5, 2017).
Read more at www.amriglobal.com

Packaged Food M&A News: On June 07, 2017, Tyson Foods, Inc. (NYSE: TSN) announced that it has officially completed its acquisition of AdvancePierre Foods Holdings, Inc. AdvancePierre is a leading national producer of ready-to-eat lunch and dinner sandwiches and snacks. Tyson purchased all the outstanding shares of common stock of AdvancePierre for $40.25 per share in cash, without interest. This created a total transaction value of approximately $4.2 billion.
Read more at www.tysonfoods.com

Aerospace M&A News: On June 08, 2017, LMI Aerospace, Inc. (NASDAQ: LMIA) announced that its shareholders approved the previously announced merger agreement under which Sonaca Group will acquire LMI. LMI is a leading supplier of structural assemblies, kits and components, and provider of engineering services to the commercial, business and regional, and military aerospace markets. The transaction is expected to close by the end of June 2017.
Read more at www.lmiaerospace.com

Healthcare M&A News: On June 12, 2017, Sientra, Inc. (NASDAQ: SIEN) (“Sientra”), a medical aesthetics company, announced that it had entered into a definitive agreement under which it will acquire Miramar Labs, Inc. (OTCQB: MRLB) (“Miramar”). Miramar is a global medical device company dedicated to bringing innovative and clinically proven applications to treat unmet needs in the aesthetic marketplace. Under the terms, the transaction value of $20 million in upfront cash plus contractual rights for potential contingent payments of up to an additional $14 million in cash.
Read more at www.sientra.com

What Our Clients Say

Announcements

View More...