Mergers and Acquisitions in September 2021

     
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    According to Business Intelligence Bureau Van Dijk, September proved to be another busy trading period with 177 transactions recorded for the month. Overseas acquires were also active during this month with a recording of 63 deals.

    The largest transaction of the month was the £5 billion acquisition of Bradford & Bingley plc by Citibank NA. Bradford & Bingley plc provide support and information to help their clients move forward with their mortgage. Citibank NA are a global bank with a mission to responsibly provide financial services that enable growth and economic progress. The bank possesses a distinct global network of people, data and relationships that creates a mindset which allows them to spot opportunities, manage risks and connect the dots for their clients in ways that others cannot.

    Another significant deal recorded was the £3.1 billion acquisition of MediaTek Global Holdings Ltd by Gaintech Co., Ltd. MediaTek is the world’s 4th largest global fabless semiconductor company and powers more than 2 billion devices a year. They lead the market in chipset sales for smartphones, Smart TVs, Voice Assistant Devices (VAD), Android tablets, feature phones and optical disc products. Their technology is built with humans in mind to enhance and enrich life with a belief that great technology should be accessible to everyone.

    Other higher value deals for this month include the acquisition of John Laing Group plc by Aqueduct Bidco Ltd for £2 billion; Playdemic Ltd by Pine Interactive Ltd for £1 billion; Kerry Group plc’s UK-based consumer food’s meats and meals business by Pilgrim’s Pride Corporation for £704 million; IDH Group Ltd by Management for £700 million; Arqit Ltd by Arqit Quantum Inc for £650 million; Travis Perkins plc’s plumbing & heating division by HIG Capital LLC for £325 million; Verne Holdings Ltd by Digital 9 Infrastructure plc for £231 million; and Fuse Project Inc. by Bentley Investment Co., Ltd for £148 million.

    Antenova Ltd, an antenna and radio frequency module maker based in Hertfordshire, was acquired by DiscoverIE Group plc for £77 million. Their off-the-shelf antenna solutions provide the high efficiency, low power consumption and reliable performance required for wireless M2M, IoT and embedded electronic applications. Nick Jefferies, chief executive of DiscoverIE, said, “The earnings accretive acquisitions of Antenova continue our strategy of building a high quality, high margin international group that designs and manufactures differentiated and customised electronics”.

    Some of the overseas deals that took place during this reporting period include the acquisition of Claybell Ltd by Sonae Food4Future SA; 3D Systems Inc.’s On Demand Manufacturing business by Quickparts Acquisition Inc.; Babcock Denmark A/S by CHC Group LLC; Steel Media Ltd by Enthusiast Gaming Properties Inc.; Upcycle Labs Ltd by Smart Notch Industrial Ltd; DT Associates Research and Consulting Services Ltd by Indegene Pvt Ltd; Vivimed Labs Europe Ltd by Vivemed Speciality Chemicals UK Ltd; Hydratight Ltd’s MORGRIP connector business by Connector Subsea Solutions AS; Environmental Resources Management Ltd by KKR & Co Inc.; and Godija Ltd by GoBrands Inc.

    The IT, Technology and Web sectors proved to be impressively active this month with several transactions taking place. Some of these acquisitions include Datalytyx Ltd by Mphasis Ltd; VirtualPiE Ltd by Framatome SAS; Insignia Medical Systems Ltd by Intelerad Medical Systems Inc.; Hamilton Grant Software Ltd by FoodChain ID Group Inc.; Opensignal Ltd by Comniscient Technologies LLC; Momote Ltd by Asolvi AS; Kare Knowledgeware Ltd Dialpad Inc.; and HeleCloud Ltd by SoftwareONE Holding AG.

    In summary, September’s M&A activity has taken place in a number of different sectors, with significant deals contributing to this month’s overall figure. With active public trade buyers, as well as private equity investors, the UK continues to appeal to acquirers from both the UK and overseas. 

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