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.
Mergers & Acquisitions
Articles
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.”
Noblesville-based Taylored Systems acquired by Henry County business
Taylored Systems Inc. has been acquired by New Lisbon Holdings Inc., paving the way for President Bill Taylor to retire nearly 40 years after founding his company.
Tech exec Bostic seeks $200M to buy lucrative health tech disruptors
Bradley Bostic is aiming to raise the funds through a new “blank check company,” called Future Health ESG, that will hold its initial public offering in coming weeks.
Laikin’s Indy-based Novus Capital II to combine with California energy-storage firm
The arrangement values Energy Vault at $1.6 billion, a huge sum for a private company that is a relative newcomer in the burgeoning field of renewable energy.
Q&A: Feltman explains his desire to foster statewide connections
IBJ Media CEO Nate Feltman started talking about three years ago with Gerry Dick about acquiring Inside INdiana Business’ parent company. But the seeds of a deal might have been planted years earlier.
Baxter’s sweetened offer lands acquisition of Hill-Rom
Baxter International Inc. announced Thursday that it reached a deal to buy Indiana-rooted Hill-Rom Holdings Inc. for about $10.5 billion.