KC Based Compass Minerals Makes $85 Million Acquisition

As reported in the Kansas City Business Journal, and as a way to boost its fertilizer business, Compass purchased Wolf Trax, Inc. of Winnepeg, MB, in an all cash deal for $85 million. Wolf Trax is a producer of micronutrients that are crucial in the coating process for dry fertilizer. The coating creates an efficient way to deliver nutrients such as boron and zinc. The purchase price would represent a 4.8x multiple on 2013 revenues. “Wolf Trax brand products are well recognized by fertilizer customers for the differentiated technology they bring to the application of micronutrients. This acquisition will position us for future growth with new products that serve a greater diversity of crops and geographies in a fast growing segment of the plant nutrition market," Compass CEO Fran Malecha said in a release. Read the entire article from the KCBJ here.

BATS and Direct Edge to Merge

August 26, 2013 09:46 by Clayton Reeves in M&A  //  Tags: , , , ,   //   Comments (0)
Local Kansas City stock exchange BATS Global Markets, Inc. (BATS) and Direct Edge Holdings LLC (Direct Edge) have announced a definitive merger agreement today that will bring the two exchange operators together in an effort to displace NYSE and Nasdaq as the market leaders.  BATS came on the scene relatively recently (in terms of stock exchanges), leveraging advanced technologies and speed of operation to steal market share from the larger, slower market leaders. Given the recent technology related blips on major markets, the merger couldn't come at a better time for companies looking to improve reliability and integrity in electronic trading.  Current BATS CEO Joe Ratterman, who will remain in the same role for the combined entity, said, “This agreement is an important milestone for the U.S. equities market and other markets around the globe as it will combine two organizations that have been innovative in creating a more competitive marketplace to benefit all investors.” Direct Edge CEO William O’Brien, who will be President of the new company, said, “Direct Edge and BATS were both founded on a commitment to create an optimal trading experience for a diverse member base, from retail investors to broker-dealers to institutions. Together, the best of both organizations will work to further improve how the world trades, consumes market data, and accesses capital markets.” The combined company will remain headquartered in Kansas City, with additional offices in New Jersey, New York and London. Click here to read the press release.

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