Old National to acquire Minnesota bank in $1.4B deal
Wall Street appeared to welcome the deal. Shares of Evansville-based Old National were trading at $23.30 shortly after 11 a.m. Monday, up 7.6% from Friday’s closing price.
Growth
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McCordsville town center takes shape as community’s population, housing needs grow
Town leaders spent nearly 15 years planning McCord Square, which they envision as a town center for a community that needs a place to gather. Residents are beginning to move into two 111,000-square-foot, four-story apartment buildings called The Jackson and The Lucas.
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West Fork Whiskey lands funding to increase production, add facilities
West Fork this week announced a new partnership with Ouabache Investments that involves up to $18 million in capital.
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Health care firm that runs clinics for employers is expanding nationwide
Marathon Health, which splits its headquarters between Indianapolis and suburban Burlington, Vermont, operates primary-care clinics for employers in 42 states.
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Cancer-fighting nuclear medicine firms find home in central Indiana
Indianapolis’ newest publicly company, Point Biopharma Inc., is the latest player in a field expected to see explosive growth as doctors and researchers look for new ways to shrink tumors.
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Articles
Turned down for loans, business owners seek growth capital elsewhere
Among the many challenges small businesses face as they try to grow these days is getting a loan. Banks big and small have tightened lending standards along with rising interest rates the past two years.
Logansport-based bank chooses north side for its first Indy-area bank branch
Logansport-based Security Federal Savings Bank says it plans to begin construction this week on a branch office on the north side of Indianapolis.
For startup, helping people connect on LinkedIn is big business
Kennected, which expects to book $10 million in revenue this year, has about 140 employees in the United States and India. As of mid-November, the company was bringing in just over $600,000 in monthly revenue, a figure that’s growing 10% each month.
Indianapolis-based Resultant acquires Texas-based consulting firm
Indianapolis-based technology consulting and analytics firm Resultant has acquired Teknion Data Solutions, which is based in the Dallas metro area. It’s the fourth and largest acquisition Resultant has made in the past three years.
Private equity firm that focuses on small companies inks 12 deals since 2018 launch
Monument Microcap Partners has also added three partners and two other employees, plus a branch office in the metro Detroit area.
A mighty wind pushes builder IEA into top gear
While businesses were laying off employees last year by the boatload because of the pandemic, an Indianapolis company that specializes in building wind and solar farms hired scores of people to tackle new projects nationwide.
Outdoor-storage firms prepare to scout for land amid growth
The number of properties focused on or allowing outdoor storage is limited—and there’s little indication that that will change anytime soon.
Sharpen Technologies spears another $14M in growth capital
Sharpen’s latest round of financing brings the total amount raised by the firm to more than $55 million. It follows a year when its cloud-based customer service platform became much more relevant.
Local software firm Authenticx lands $7.5M in growth capital
The Carmel-based business communications software company said the new funding will be used for ongoing product development and to boost hiring.
Clamor for gardens escalates even as pandemic restrictions ease
Local home and garden stores are continuing to struggle to meet the pandemic-fueled demand that began last spring.
Indianapolis-based Bastian Solutions on 400-employee hiring spree
Bastian Solutions, which makes conveyor systems, robotics and other automated materials-handling items often used by the retail industry, has seen growth accelerate because of the pandemic.
Savvy strategy, some luck propel online boutique to big success
Magnolia Boutique—known for its bohemian style built around casual, trendy clothing, shoes and accessories—is an online-only business on track to hit $10.5 million in sales this year, up from $7.9 million in 2019.
U.S. economy grew at 33% rate in third quarter after spring plunge
The Commerce Department’s estimate Thursday of third-quarter growth regained about two-thirds of the output that was lost early this year when the economy essentially froze as safety orders forced restaurants, bars and many retailers to shut down.
Old-line metal-fabrication company sees revenue surge under new ownership
Until a few years ago, Indianapolis-based IMH Products was stuck in neutral—turning a profit, yes, but doing so with outdated equipment and without an emphasis on growth.
Fast-growing Sharpen Technologies could add 75 employees by end of 2021
Sharpen Technologies, an Indianapolis-based developer of cloud-based customer service software, came out of the gates fast this year, and despite a pause in March has continued to experience dramatic growth right through the pandemic.
Probo Medical is straying from narrow focus to continue rapid growth
The Fishers-based company’s latest acquisition realizes its transition from a niche repair firm for ultrasound components to a multinational imaging-machine supplier.
Global scale-up accelerator expanding presence in Indy
Endeavor, which helps companies access talent and capital but takes no equity, is hunting for six to eight companies for its second Midwest cohort, an eight-month mentoring program which begins April 23. Endeavor officials want at least of those companies to come from central Indiana.
ActiveCampaign’s massive VC haul to trigger growth at Indy office
ActiveCampaign, a Chicago-based marketing technology company that recently opened an Indianapolis office, announced this week it landed $100 million in Series B funding that will help it grow locally.
Health care systems scramble to offer latest in cancer care
Indiana University Health’s new Schwarz Cancer Center is the latest addition to a crowded landscape of cancer centers and hospital oncology programs popping up around central Indiana.