S.C. Deals: M&A quarterly report

Staff Report
Published Feb. 18, 2013

This quarterly feature recaps mergers and acquisitions involving companies or assets in South Carolina, based on data from S&P Capital IQ. Seller is noted if it is a separate entity from the acquisition. Most recent transactions are listed first; transactions cover October through December 2012. Some deals were private and value was not disclosed.

S.C. Deals — Fourth Quarter 2012

Merged/acquired business

Value

Business description

Buyer

Seller

Travel Center in Florence

Not disclosed

Travel Center in Florence includes a gas station, convenience store, repair service facility and other services.

TravelCenters of America LLC of Westlake, Ohio

Davis-Garvin Agency Inc., Columbia

Not disclosed

Davis-Garvin Agency provides commercial and personal lines, and employee benefits insurance solutions for companies.

Neace Lukens Inc., Louisville, Ky.

QBE Insurance Group Ltd., Sydney, Australia

Shopping center, 1750 Woodruff Road, Greenville

$9.1 million

This 68,000-square-foot shopping center is anchored by Publix.

Kite Realty Group Trust, Indianapolis

Resource Financial Services Inc., Columbia

Not disclosed

Resource Financial Services Inc. provides mortgage banking services to homeowners in South Carolina, North Carolina, Georgia, Kentucky, and Virginia.

CertusBank N.A., Greenville

The Market on Cherry Road, Rock Hill

Not disclosed

The Market on Cherry Road is a 132,547-square-foot shopping center.

Aston Properties Inc., Charlotte

Lamar Companies Inc., Morristown, N.J.

Distribution facility, John Dodd Road, Spartanburg

$63.25 million

This 1 million-square-foot facility is fully leased to Amazon.

Cole Corporate Income Trust Inc., Phoenix

Tango S.C. LLC, San Antonio

Spartanburg Tank Wash

Not disclosed

The facility at 256 Tucapau Road in Duncan includes a five-bay wash rack and a two-bay shop, along with office space.

Trimac Corp., Calgary, Canada

Fleet Operations Inc., Duncan

Pexco LLC's extruded sheet business, Columbia

Not disclosed

The extruded sheet business of Pexco LLC designs and fabricates extruded plastic sheets used in packaging.

Plaskolite Inc., Columbus, Ohio

Pexco LLC, Alpharetta, Ga.

2ndPole, Conway

Not disclosed

2ndPole is a website design company that also offers search engine optimization, e-commerce and e-business development services.

Interactivity Marketing Inc., Myrtle Beach

Verizon call center, Richland County

$29.2 million

This 146,483-square-foot office building near Columbia is leased to Verizon as a call center.

Gladstone Commercial Corp., McLean, Va.

Fairfield Inn & Suites Charleston Airport/Convention Center

Not disclosed

The hotel includes 102 rooms and is located in North Charleston.

Hotel Development Partners LLC, Atlanta

Broad River Energy Center, Gaffney

$427 million

The 847-megawatt natural-gas plant supplies electricity to Carolina Power & Light Co.

Energy Capital Partners, Short Hills, N.J.

Calpine Power Co., Houston, Texas

Hilex Poly Co. LLC, Hartsville

Not disclosed

Hilex Poly Co. manufactures plastic bag and film products used as packaging materials.

Wind Point Partners, Chicago

TPG Growth, San Francisco

UnitedHealth Group's S.C. Medicaid business

Not disclosed

UnitedHealth Group Inc.'s Medicaid business In South Carolina serves approximately 65,000 Medicaid members in 39 of the state’s 46 counties.

WellCare Health Plans Inc., Tampa, Fla.

UnitedHealth Group Inc., Minnetonka, Minn.

Bluewater Thermal Services, Greenville

Not disclosed

Bluewater Thermal provides heat-treating processes designed to improve the durability and wear resistance of metal components.

Aterian Investment Partners LLC, New York

Teligy Inc., Greer

Not disclosed

Teligy Inc. provides custom software and hardware design, development, and testing services for the defense and commercial markets.

Raytheon Co., Waltham, Mass.

Triplett-King Associates Inc., Rock Hill

Not disclosed

Triplett-King Associates Inc. provides engineering design, construction management and inspection services for the transportation industry.

KCI Technologies Inc., Sparks, Ma.

Action Research Corp., Greer

Not disclosed

ARC provides aerospace and industrial repair, assembly, and engineering services.

Flight Support Group Inc., Sanford, Fla.

Silvana Oaks Apartments, North Charleston

$21.5 million

Silvana Oaks Apartments is a 208-unit complex off Dorchester Road in North Charleston.

BRT Realty Trust, New York, and KBS Silvana LLC, Charleston

Palmetto Park Apartments Associates LLC

Anglostar LLC, Greer

Not disclosed

Anglostar distributes dyes, dyestoffs and specialty chemicals.

Dystar L.P., Charlotte

Source: S&P Capital IQ
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