Indy-based logistics firm DCL expects acquisition to fuel growth
Direct Connect Logisticx has added 70 employees through its acquisition of locally-based Hoosier Logistics and said it expects to add another 100 over the next year.
Mergers & Acquisitions
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JetBlue makes offer for Spirit Airlines, could spark bid war
JetBlue Airways has offered to buy Spirit Airlines for about $3.6 billion and break up a plan for Spirit to merge with rival budget carrier Frontier Airlines.
Media measuring company Nielsen to be acquired in $16B deal
Viewing data collected by Nielsen plays a big role in determining where billions in advertising dollars are spent each year. The company itself has annual global revenue of about $3.5 billion.
Downtown apartment property sells for more than $120 million
The acquisition by Indianapolis-based Zidan Management Co. is believed to be the largest single-property apartment sale in Indiana history.
Seattle firm to acquire part of Carmel-based Residential Warranty Services for $33M
Porch says it plans to acquire Residential Warranty Services’ home-warranty and home inspector software and services businesses. The deal is expected to close next quarter.
Webster’s Sporting Goods acquired by Distinct Images
Webster’s Sporting Goods, founded in 1972, has moved from its longtime location at 5060 E. 62nd St., just off Binford Boulevard, to Distinct Images’ location at 6830 Hawthorn Park Drive, near Binford and 71st St.
Raytheon’s Indianapolis unit operating under new name after acquisition
Raytheon’s Indianapolis site is now operating under the Vertex name following a recent acquisition by Madison, Mississippi-based Vertex Aerospace, but that name is expected to change again in the months to come thanks to another acquisition.
Troubled Lakeside Pointe apartment complex acquired
Lakeside Pointe at Nora apartment complex—under threat of a city nuisance lawsuit—has a new owner. The former owner owed more than $225,000 for 600-plus housing code violations at the complex.
KAR shares rise 40% after Carmel firm says it will sell ADESA
The Carmel-based auction services company declined to say how many of its 1,000 employees in Indiana would be affected by the transaction. But it said the buyer—Carvana Co.—will not require any employees to relocate.
Justice Department sues UnitedHealth over nearly $8B deal
The U.S. Department of Justice said Thursday that the proposed deal for Change Healthcare would hurt competition and give UnitedHealth Group—which is a competitor to Indianapolis-based Anthem Inc.—access to sensitive claims information from competitors.
Carmel-based KAR Global agrees to sell ADESA auction unit to Carvana to focus on digital marketplace
About 4,500 employees of ADESA and KAR will be transferred to Carvana as part of the sale. That’s just under 50% of the company’s total head count. According to IBJ research, KAR has about 9,600 employees worldwide and 1,150 employees in Indiana.
Cummins to acquire Meritor for $3.7B
Columbus-based Cummins said its acquisition of Michigan-based Meritor, a maker of electric axle and brake technology, will help accelerate Cummins’ electric and hybrid business.
Standard General acquiring WTHR parent in $5.4B cash deal
New York City-based investment firm Standard General plans to take television station owner Tegna private in the deal, which has an enterprise value of about $8.6 billion, including the assumption of debt.
Indy-based Direct Connect Logistix acquires Utah business
While DCL said it plans to grow the Utah location, the company’s headquarters will remain in Indianapolis, where it employs 160 and is expanding its workforce.
Hallador Energy acquiring Merom electric plant in Sullivan County
The 1-gigawatt power plant in southwestern Indiana is currently owned by Hoosier Energy and is approaching retirement.
BKD CPAs & Advisors merges with North Carolina firm
BKD said its combination with Dixon Hughes Goodman will create a top 10 national professional services firm. BKD’s local office is the fourth-largest accounting firm in the Indianapolis area, according to IBJ research.
Indianapolis-based Key Auctioneers acquired by northeast Indiana company
Krueckeberg Auction and Realty, a 45-year-old auction house headquartered in Decatur, said the acquisition could potentially double its business.
Cook Medical to sell reproductive health unit for $875M
The reproductive health unit includes products for obstetrics and gynecology, in vitro fertilization and assisted reproductive technology.
Three neighboring townships in central Indiana merge into one
The merged township is the first in the state, serving 29,885 residents and 12,185 households.
An acquisition can be answer to a tight labor market
Keen to beef up their workforces, some local companies are turning to a practice known as acqui-hiring—acquiring employees by buying the company they work for.