MERGERS & ACQUISITIONS IN 2022

COMPAGNIE PLASTIC OMNIUM SE Levallois-perret, Ile-de-France, France

17

18

VARROC LIGHTING SYSTEMS INC. Plymouth

DT MIDSTREAM INC. Detroit MILLENNIUM PIPELINE CO. LLC Pearl River, N.Y.

Linklaters LLP (Legal Advisor); SG Corporate & Investment Banking (Financial Advisor); Khaitan & Co. (Legal Advisor)

Willkie Farr & Gallagher LLP (Legal Advisor); Rothschild & Co SCA (ENXTPA:ROTH) (Financial Advisor)

Shearman & Sterling LLP (Legal Advisor); Lazard Ltd (NYSE:LAZ) (Financial Advisor) Morgan, Lewis & Bockius LLP (Legal Advisor); BofA Securities Inc. (Financial Advisor)

TENARIS S.A. Luxembourg City, Luxembourg BENTELER STEEL & TUBE CORP. Houston Sullivan & Cromwell LLP (Legal Advisor); Jones Walker LLP (Legal Advisor); Mitrani, Caballero & Ruiz Moreno (Legal Advisor)

LINCOLN ELECTRIC HOLDINGS INC.

FORI AUTOMATION INC. Shelby Township

Adams and Reese, L.L.P. (Legal Advisor); Mayer Brown LLP (Legal Advisor); Breazeale, Sachse & Wilson, L.L.P. (Legal Advisor)

Cuatrecasas, Goncalves Pereira, S.L.P. (Legal Advisor) Legal (Butzel): Patrick Dreisig, Geaneen Arends, Suzanne Miller; UHY (Investment Banker);

& Co. (Legal Advisor)

Closed Oct. 2022

Closed Oct. 2022

Sold by: VarrocCorp Holding B.V.. Compagnie Plastic Omnium SE (ENXTPA:POM) completed the acquisition of Varroc Lighting Systems Inc. from VarrocCorp Holding B.V. for €520 million on October 6, 2022.

Sold by: National Grid plc (LSE:NG.). DT Midstream Inc. (NYSE:DTM) completed the acquisition of an additional 26.25% ownership interest in Millennium Pipeline from National Grid plc (LSE:NG.) on October 07, 2022.

Announced July 2022 Sold by: Benteler North America Corp.. Tenaris S.A. (BIT:TEN) entered into an agreement to acquire Benteler Steel & Tube Corp. from Benteler North America Corp. for $460 million on July 7, 2022.

$558.0

$552.0

$460.0

Dec. 2022 Sold by: Fori Automation Inc.. Lincoln Electric Holdings Inc. (NasdaqGS:LECO) entered into a de nitive agreement to acquire Fori Automation Inc. for $427 million on Oct. 14, 2022. $427.0

Nov. 2022

& Investments Private

FEV North America Inc.

Tech Industries Group Inc. entered into a Share Exchange Agreement to acquire Wild re Media Corp. for $270 million on Sept. 4, 2022. Under the terms of the agreement GTII will, at the closing, issue to the Wild re Shareholders 100 million restricted common shares in exchange for all outstanding shares of Wild re Media.

Sold by: Liv Communities LLC. Clearwater Living Management Inc. acquired LivGenerations portfolio in Pheonix , Ariz. from Liv Communities LLC in November 2022. Chad Lavender and Ryan Maconachy of Newmark represented the seller, Liv Communities.

Closed March 2022 Sold by: Tianjin Santroll Electric Automobile Technology Co.,Ltd.. BorgWarner Inc. (NYSE:BWA) signed an Equity Transfer Agreement to acquire Santroll Automotive Components from Tianjin Santroll Electric Automobile Technology Co.,Ltd. for CNY 1.4 billion on Feb. 15, 2022. Stewart Wang of DLA Piper UK LLP Shanghai Representative O ce acted as legal advisor to BorgWarner Inc. (NYSE:BWA).

BUSINESS OF SIEMENS AG Germany

DENALI INGREDIENTS LLC New Berlin, Wis.

27 GENTHERM INC. Northville AUTOMOTIVE

PPC ENTERPRISES New York EDUSTAFF LLC Grand Rapids

BORGWARNER INC. Auburn Hills RHOMBUS ENERGY SOLUTIONS INC. San Diego, Calif.

Eversheds Sutherland (Germany) LLP (Legal Advisor); Greenhill & Co. LLC (Financial Advisor); Eversheds Sutherland (US) LLP (Legal Advisor); Eversheds Sutherland China (Legal Advisor)

Dorsey & Whitney LLP (Legal Advisor)

Baker & Mckenzie Llp, Frankfurt (Legal Advisor)

Closed Aug. 2022

Harris Williams LLC (Financial Advisor);Closed Nov. 2022

Honigman LLP (Legal Advisor); Gleiss Lutz (Legal Advisor); Guggenheim Securities

NA

Covington & Burling Barnes & Thornburg LLP

NA

Wilson Sonsini Goodrich & Rosati, P.C. (Legal Advisor); IMPROVED Corporate Finance B.V. (Financial Advisor); Wilson Sonsini Goodrich & Rosati, P.C. (Legal Advisor); IMPROVED Corporate Finance B.V. (Financial Advisor)

Closed July 2022

Sold by: Siemens Aktiengesellschaft (XTRA:SIE). Meritor Inc. (NYSE:MTOR) entered into an agreement to acquire Commercial Vehicles Business of Siemens AG for an enterprise value of $190 million on May 19, 2022. The consideration is in cash, adjusted for changes in working capital at closing. Greenhill & Co. LLC acted as nancial advisor to Meritor Inc. in the transaction.

Sold by: Denali Flavors Inc.. Orkla Food Ingredients AS agreed to acquire 84% stake in Denali Ingredients LLC from Denali Flavors Inc. on October 3, 2022. Denali Ingredients LLC is valued on a debt-free basis at USD 200 million. As part of the transaction, the seller and Denali Ingredients CEO Neal Glaeser will invest in Denali Ingredients and become co-owners of the company with a combined share of 16%. This will be OFI's rst business venture in the United States and Denali Ingredients' operations will continue out of the New Berlin facilities. Apart from purchase price the agreement includes a potential additional payment if the company delivers strong growth in the coming years.

Sold by: Alfmeier PrAZision Se. Gentherm Inc. (NasdaqGS:THRM) entered into a de nitive purchase agreement to acquire automotive business from Alfmeier PrAZision Se for approximately €180 million on April 29, 2011. The consideration will be paid in cash, subject to adjustments. The transaction will be funded through a combination of Gentherm's existing cash balances and revolving credit facility. The members of the Alfmeier team will become part of the Gentherm family. Alfmeier's automotive business generated €232 million in revenue for 2021. Guggenheim Securities LLC acted as nancial advisor, Honigman LLP and Gleiss Lutz acted as legal advisors to the Gentherm.

$200.0

$200.4 26 ORKLA FOOD INGREDIENTS AS Oslo, Oslo, Norway

Closed Dec. 2022

Closed July 2022

Sold by: Members of EduSta LLC. PPC Enterprises acquired all of the issued and outstanding equity of EduSta , LLC, a K-12 teacher sta ng and recruiting platform. The transaction involved a purchase of approximately 85% of the equity for cash with the balance rolled over by certain of the equity owners (primarily those who will remain in company leadership after closing).

Sold by: Emerald Technology Ventures AG; Cycle Capital Management Inc.; Greenhouse Capital Partners; Nabtesco Technology Ventures AG. BorgWarner Inc. (NYSE:BWA) acquired Rhombus Energy Solutions Inc. on July 29, 2022. The transaction has an enterprise value of up to $185 million, which is being funded primarily with cash balances. Approximately $130 million was delivered at closing and up to $55 million could be paid in the form of contingent payments over the next 3 years.

$187.5

$185.0

$185.0

CRAIN'S LIST |

MERGERS & ACQUISITIONS IN 2022

Ranked by value of transaction

&

35 KNIGHTVEST RESIDENTIAL Dallas WESLEY Raleigh, N.C. NA NA

Closed May 2022 Sold by: Rock Companies LLC. Knightvest Residential acquired WESLEY from Rock Companies LLC for approximately $110 million on May 31, 2022. The 354-unit Legends Cary Towne Apartments at 442 Je erson Towne Drive in Raleigh, N.C., is now Wesley Apartments.

$119.5

37

MULLEN AUTOMOTIVE INC. Brea, Calif. CERTAIN ASSETS OF ELECTRIC LAST MILE SOLUTIONS

39

47 TRIMAS CORP. Bloom eld Hills INTERTECH PLASTICS INC. Denver, Colo.

&

36 KPIT TECHNOLOGIES GMBH; KPIT TECHNOLOGIES INC. FOUR COMPANIES OF TECHNICA Germany goetzpartners HOLDING GmbH

Closed

Nov. 2022

Feb.

Sold

Squire Patton Boggs (US) LLP (Legal

Advisor)

Provider)

49 BORGWARNER INC. Auburn Hills CHARGING BUSINESS OF HUBEI SURPASS SUN ELECTRIC CO. LTD China DLA

Ltd. (Financial

March 2022 Kelly Services Inc. (NasdaqGS : KELY.A) acquired Rocket Power Inc. on March 7, 2022. TechStrat acted as an exclusive nancial advisor to Rocket Power. $94.7

2022

Health

Suburban.

Goodwin Procter LLP (Legal Advisor)Closed Aug. 2022 Hagerty Inc. (NYSE:HGTY) entered into a de nitive agreement to acquire remaining 60.26% of Broad Arrow Group Inc. for $64.8 million on August 9, 2022.

NA

Corum Group Ltd. (Financial Advisor)Closed

TriMas Corp. (NasdaqGS:TRS) acquired Intertech Plastics Inc. from family on Feb. 28, 2022. Intertech Plastics Inc. generated approximately $32 million in revenue in scal year 2021. Steve McCullough and Dave Godenswager of BDO USA, LLP acted as nancial and tax due diligence provider to TriMas Corp.

Converge Technology Solutions Corp. (TSX:CTS) acquired Creative Breakthroughs Inc. for $67 million on April 1, 2022. Consideration for the purchase consisted of $47 million plus working capital in excess of $3 million paid in cash at closing and earn-out payments of up to $17 million in aggregate, payable over three years.

$66.8

$64.1

$58.4

Advisor) NA

Representative

50 MULLEN AUTOMOTIVE INC. Brea, Calif. BOLLINGER MOTORS INC. Oak Park NA NA

Announced Sept. 2022

Closed Sept. 2022 Mullen Automotive Inc.acquired 35.291537% stake in Bollinger Motors LLC from Robert Bollinger on September 7, 2022. Consideration will be in cash amounting $8.029818 million, equity amounting to $33.082852 million and earnout payment of $16.059637 million.