Denver company completes Chromcraft acquisition
Apparel maker Sport-Haley Holdings Inc. has closed its $3.45 million purchase of Indiana-based furniture maker Chromcraft Revington.
Mergers & Acquisitions
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Republic Airways extends time to close $145M Frontier sale
Buyer Indigo Partners says it first needs agreements with the union for Frontier flight attendants, and with credit card issuer Barclays.
Tech deal escalates battle of titans
The CEOs and of four cloud marketing companies–two national and two local–might make Indianapolis into a bridge between two feuding Silicon Valley giants. Or put the city in the middle of an aggressive arms race in one of the tech industry’s hottest markets—cloud marketing.
Republic Airways selling Frontier in $145M deal
Indigo Partners LLC, led by veteran airline executive William Franke, has agreed to buy Frontier Airlines from Indianapolis-based Republic Airways Holdings Inc. for $36 million in cash. The total value of the transaction is $145 million including debt.
Republic Airways extends deadline for Frontier sale
The Indianapolis-based regional carrier plans to tie up negotiations with a prospective buyer, believed to be headed by former Spirit Airlines Inc. Chairman Bill Franke.
Local manufacturer to be acquired for $41 million
United Kingdom-based Meggitt PLC plans to acquire Piezotech LLC, a manufacturer founded in Indianapolis in 1967, for $41.2 million, the companies announced Wednesday.
Youth agency finds shelter under Children’s Bureau umbrella
Children’s Bureau Inc. is taking over operations of a Noblesville not-for-profit in “fiscal distress” after the smaller agency lost a key federal grant.
Indiana Members adds small credit union to its fold
Indiana Members, which has 24 branches and $1.3 billion in assets, will grow by one branch and $17 million in assets.
Angie’s List acquires Denver firm for $2.7 million
BrightNest, founded in 2011, provides free online tips for home maintenance to about 100,000 users. The company’s eight employees will remain based in Denver.
Salesforce.com wraps up $2.5B acquisition of ExactTarget
Cloud computing giant Salesforce.com paid $33.75 per share to acquire ExactTarget. The price was roughly 6.5 times ExactTarget’s projected revenue for 2013, analysts said.
Tyco to buy Fishers-based technology firm for $150 million
Tyco International Ltd. said Wednesday that it reached a deal to acquire Exacq Technologies Inc., which develops video management systems for security and surveillance uses.
ProLiance Energy sold to Dallas company
Indianapolis-based ProLiance Energy, which has lost tens of millions of dollars in recent years amid falling natural gas prices, is being sold to Dallas-based Energy Transfer Partners.
Salesforce slow to excite investors after $2.5B buyout of ExactTarget
Shares of the California-based cloud computing giant continue to lag after last week’s announcement of its $2.5 billion offer for Indy-based marketing powerhouse ExactTarget.
ExactTarget option gains approach $300M
xactTarget Inc.’s sale will swell the value of employee stock options to nearly $300 million—a windfall local tech experts expect will launch a wave of entrepreneurship over the next several years.
Salesforce to keep ExactTarget independent, ‘invest’ in it
In a company memo, ExactTarget CEO Scott Dorsey assures employees of their importance after announcing deal to sell the company for $2.5 billion.
ExactTarget sale caps success story; CEO mum on Indy work force
ExactTarget CEO Scott Dorsey said the company will remain “very committed to Indianapolis” after its $2.5 billion buyout by tech giant Salesforce.com, but he would not comment on potential changes to the local work force of more than 1,000 employees.
Celadon acquires Canadian trucking company
Hyndman Transport Limited, based in Wroxeter, Ontario, operates about 175 tractors and brought in roughly $48 million in revenue in 2012.
Lids acquiring Kentucky sporting goods chain
The CEO of a private equity firm that helped fund the Lexington-based Fan Outfitters chain said new regulations imposed by the Affordable Care Act prompted the group to look at the offer from Lids.
Spate of banking mergers may be just the beginning
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.
Sherry Labs snapped up by Netherlands corporation
The materials-testing business with nearly 300 employees has been acquired by Element Materials Technology. Sherry had been owned by a group of well-connected central Indiana businessmen.