Good’s Candy Shop to reopen under new ownership
Louie Keen, owner of acquirer Uranus Fudge Factory and General Store, said last week the store will reopen soon, with a soft opening planned for Feb. 1 and grand opening set for April 1.
Mergers & Acquisitions
Articles
2021 Year in Review: Lessonly, KAR among tech dealmakers
Indiana’s tech sector hit a red-hot cycle of mergers and acquisitions, pushing the number of deals well past marks set in 2018, 2019 and 2020 by the end of 2021’s third quarter. Experts said the M&A activity spoke to how the state’s tech sector had matured, as well as the gobs of cash burning holes in investors’ pockets.
2021 Newsmaker: John Kite, Kite Realty Group Trust CEO and chairman
Indianapolis-based Kite Realty Group Trust announced in July that it would merge with Oak Brook, Illinois-based Retail Properties of America Inc. in an all-stock deal worth $2.8 billion.
Bankers weigh what’s next after historic $5 trillion M&A record
Fueled by cheap money and a soaring stock market, companies struck deals at a record pace in 2021 to boost growth, acquire new capabilities or to simplify their corporate structures.
Indianapolis-based RCA firm acquired by Arizona conglomerate
Indianapolis-based RCA Commercial Electronics, which sells both commercial televisions and LED lighting, has been acquired for $14 million cash plus other considerations. The deal closed earlier this week.
Indiana-based Shoe Carnival buys Alabama-based Shoe Station
With the addition of Shoe Station, Shoe Carnival said it expects to exceed 400 stores by the end of 2022 on a path toward double-digit growth in new stores in the years ahead.
Merger between Jet Access Group, Eagle Creek Aviation taking wing
The merged company will employ about 380, including more than 110 pilots and 75 aircraft technicians, and have more than 50 aircraft in its fleet.
Indy-based parking tech company T2 to be acquired for $347M
T2, founded in 1994, provides parking-management hardware and software to universities, municipalities, parking operators, health care facilities and transportation hubs. It has more than 1,900 customers.
Indiana’s tech sector sees big M&A boom
The momentum is so strong that the number of deals during the first three quarters of 2021 has already eclipsed full-year 2020 and 2019 totals—and by a healthy margin.
Muncie-based First Merchants to acquire Michigan bank for $323.5M
First Merchants has agreed to acquire Farmington Hills-based Level One Bancorp, which has 16 Michigan banking offices. The deal is expected to close in the first half of next year.
Andretti says control issues of F1 team ended Sauber talks
IndyCar team owner Michael Andretti said “control issues at the 11th hour” derailed Indianapolis-based Andretti Autosport’s bid to buy the Alfa Romeo team from Sauber, but he has not given up on his attempt to acquire a Formula One team.
Zionsville-based Clear Software acquired by Microsoft
Clear Software, founded in 2015, offers tools to help simplify and streamline business processes. Microsoft said the acquisition will help it improve its Microsoft Power Platform, which offers a variety of business-oriented tools for users.
U.S. files antitrust suit to stop major book publisher merger
The Justice Department is suing to block a $2.2 billion book publishing deal that would have reshaped the industry, saying consolidation would hurt authors and, ultimately, readers.
First Internet Bank to acquire Georgia-based bank in $80M deal
Fishers-based First Internet says it expects that its $80 million acquisition of Georgia-based First Century Bank will be complete early next year. The deal brings several new product lines to First Internet’s existing offerings.
Shareholders OK Kite Realty’s acquisition of major competitor
Indianapolis-based Kite Realty Group Trust’s acquisition of Illinois-based Retail Properties of America Inc. is expected to close Thursday now that shareholders for both companies have approved the deal.
KAR Global completes $450M purchase of California auction company
Escondido, California-based Carwave, founded in 2009, serves franchised and independent dealers in California and has been expanding into other states, including Arizona, Nevada, Oregon and Texas.
Carmel used-car auction company sold to New York firm
Detroit-based private equity firm Huron Capital has sold XLerate Group—a company it formed in 2014— to a firm in New York.
Signet bets $490M on bridal resurgence with Diamonds Direct deal
The cash deal will add 22 stores and 500 employees to Signet Jewelers Ltd.’s network. Diamonds Direct has one store in Indianapolis.
Marketing tech firm Terminus announces its largest acquisition yet
Terminus, which offers a business-to-business platform that helps marketers connect with potential customers, said its acquisition of Boston-based Zylotech is its fifth acquisition to date, and its largest.
Fishers District retail area, apartments sold to Chicago firm in ‘landmark’ deal
Developer Thompson Thrift, which began planning the $110 million development in 2015, sold the property in a deal that brokers said “attracted nationwide investor interest and achieved record-breaking pricing.”