The management team of Kenra LLC will stay with the Indianapolis company’s new owner, Imperial Capital Acquisition Fund III, and anticipates growing the business through acquisition, according to Kenra Chief Operating Officer Steve Nerney. Also staying are Patrick Ludwig, president of the Kenra brand, and Dave Gordon, president of its Elasta QP brand, Nerney said. […]
The Indianapolis law firm Locke Reynolds has absorbed five lawyers from the Fort Wayne firm of Dahm & Elvin. New to Locke Reynolds are Albert Dahm, Michael Elvin, James Butz and Sandy Morris. Locke Reynolds ranked 8th in IBJ ’s 2007 Book of Lists, with 77 attorneys in the Indianapolis area.
Biomet Inc. chief executive Dane Miller won’t lead the Warsaw prosthetics company after the close of its $10.9 billion sale to a group of private equity investors, according to Greater Fort Wayne Business Weekly. Miller, who has an equity stake in the acquisition, will be a director. But his involvement won’t extend to a formal […]
Advance Auto Parts Inc. announced today it will build a warehouse near Remington to serve its Midwestern stores. The 500,000-square-foot facility will hire 600 and be completed in summer 2008, according to the Roanoke, Va., retailer of aftermarket auto parts. Remington is north of Lafayette and near Interstate 65.
Carmel-based N/Frame, an Internet and hosting provider, said today that it has been acquired by Continental Broadband of Norfolk, Va., for undisclosed terms. N/Frame Chief Operating Officer Bob Alcorn said its owners, the Dunigan family of Evansville, felt it was better to find a buyer than undertake an expansion that would have required extensive investment. […]
Emmis Communications Corp. CEO Jeff Smulyan won’t have to face his nemesis—Elkhart-based investment manager Frank Martin—when the company holds its annual meeting tomorrow. Martin has submitted a proposal on the meeting agenda that would do away with a special class of stock that gives Smulyan 60 percent of the company’s voting power, even though […]
The Home Depot announced this morning that it will evaluate a sale, spin-off or initial public offering for its HD Supply unit. Atlanta-based Home Depot said it is launching the strategic review because the business might offer shareholders more value under different ownership. HD Supply, which does $12 billion a year in sales, has several […]
Ivy Tech Community College of Indiana and Indiana Business College are bracing for an expected wave of enrollments, now that three big auto parts companies have announced plant closings in Indiana this year, according to The Star Press of Muncie. The 2004 closing of Thomson Consumer Electronics’ television picture tube plant in Marion caused a […]
Jist Publishing, which publishes books about careers from its headquarters near Fort Benjamin Harrison, has been sold to EMC/Paradigm Publishing of St. Paul, Minn., for an undisclosed price. Jist founder and owner Michael Farr said he hired a brokerage in April to find a buyer because it was the right time to do other things […]
HSI Show Productions, the Indianapolis company that stages the Indiana Flower & Patio Show and the Christmas Gift & Hobby Show at the Indiana State Fairgrounds, has bought the Dayton Home & Garden Show from DMG World Media. Terms were not disclosed. The show in Dayton, Ohio, will have 350 exhibits when it opens for […]
Subaru plans to move assembly of its redesigned 2008 Impreza compact car from Japan to its plant in Lafayette, according to Edmunds.com. The respected automotive Web publisher did not cite its source. Calls placed by IBJ to the plant and to Subaru of North America headquarters in New Jersey were not returned. The new Impreza […]
Eli Lilly and Co. plans to market a version of its depression drug Prozac to dog owners to treat their pets separation anxiety, according to Bloomberg. The U.S. Food and Drug Administration said the drug, called Reconcile, should be used along with a behavior modification plan. There are about 61.5 million pet dogs in the […]
Bruce Quinn, who sold his eclectic Brownsburg radio station WKLU-FM 101.9 in October 2004, has received permission from the Federal Communications Commission to move his Columbus radio station to a new frequency and extend its signal to Indianapolis. Quinn’s wife, Mitzi, started WHUM-FM 98.5. It broadcasts alternative, country, bluegrass, rock and classical music. Timing for […]
North Carolina has beaten Indiana in the hunt to land Honda Motor Co.’s new light jet business. Officials of the Japanese company said today its Honda Aircraft Co. Inc. subsidiary will establish its $60 million headquarters and affiliated manufacturing plant in Greensboro, N.C. Honda plans to hire at least 300 workers deliver its first batch […]
Fort Wayne Mayor Graham Richard earlier this week proposed starting an economic development authority that would allow cities and counties in northeast Indiana to pool part of their economic development taxes, according to The Journal Gazette. The authority would build roads, recreational trails and other infrastructure needed to attract jobs, said Richard, a Democrat.
BorgWarner Inc. confirmed this morning that it will eliminate 780 jobs when it closes its Muncie plant in April 2009. The Auburn Hills, Mich., company announced early today that it would shutter the plant to streamline costs, but didn’t divulge details. Chief executive Tim Manganello, who managed the plant eight years, said the reductions will […]
Bioanalytical Systems Inc., based in the Purdue Research Park in West Lafayette, reported fiscal first-quarter profit of $556,000, reversing a loss of $716,000 a year earlier. Revenue for the period ended Dec. 31 increased 11 percent, to $10.9 million. The company, which laid off 12 percent of its work force last year, said increased revenue […]
Flagship Enterprise Center in Anderson plans to build a Flagship Accelerator on eight acres within the existing Flagship Business Park. The $2.6 million project will span 70,000 square feet and is slated to be completed in June. The new center will house early stage companies and others that graduate from the Flagship small-business incubator.
Maax Inc. is closing its plastic and fiberglass bathtub and shower fixture plant at Pidco Drive in Plymouth, according to The Pilot News. Fifty workers in the town south of South Bend will be displaced, although a few might be shifted to a nearby facility, the Plymouth newspaper said. Maax is based in Ste-Marie, Quebec, […]
BorgWarner Inc. said this morning it will close its 780-employee Muncie powertrain components plant to cut costs. In December, the union voted unanimously against reopening its contract two years early, after the Auburn Hills, Mich.-based company threatened to close the plant if workers didn’t accept cuts in benefits. It’s not clear if some of the […]
