Indianapolis-based Miller Pipeline Corp. announced Monday morning that it has purchased Illinois-based Elcon Pipeline Inc.,
marking the company’s fifth acquisition in the past four years.
Florida-based Sun Capital has completed the turnaround of Marsh Supermarkets and now is seeking a buyer
for the home-grown chain. CEO Frank Lazaran told IBJ Sun will sell Marsh “when the market is right, financing
is right, and
someone is willing to pay a fair multiple.”
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, has closed
on a deal to became part of The Main Street America Group, the Jacksonville, Fla.-based company said Tuesday morning.
St. Louis-based Express Scripts Inc. has completed its $4.7 billion acquisition of WellPoint Inc.’s pharmacy benefits
management business, the company said Tuesday.
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure
of the $39 million transaction.
Pittsburgh-based PNC Financial Services Group Inc. has converted 240 former National City Bank branches to their new identity,
but the 77 Indianapolis-area locations will keep the old brand for a bit longer.
Benchmark Products Inc., a local manufacturer of metal-finishing chemicals, will combine with a Bedford, Ohio, company and
keep its headquarters and production in Indianapolis. The combined company will be renamed Asterion LLC.
The Autoquip Corp. has completed its acquisition of American Lifts in Greensburg and will be moving nearly 50 jobs to company headquarters in Guthrie, Okla.
The Music Mill, a local concert venue, restaurant and bar that has been closed down twice this year by different operators,
has new life. Local entrepreneur Ravi Chopra, 44, who owns the 6 Lounge & Restaurant downtown, announced last
night that he has purchased the Music Mill and plans to reopen it Oct. 12.
Merger talks that began last year between local legal heavyweight Ice Miller LLP and a Louisville-based law firm reportedly
have broken down, putting an end to a deal that was expected to close by the end of the year.
Republic Airways Holdings Inc. is considering shifting as many as 250 jobs to its home base of Indianapolis as a result of
its pending acquisition of Frontier Airlines Holdings Inc. in Denver, according to a news report.
Frontier Airlines Holdings Inc. said yesterday that creditors have approved its bankruptcy reorganization plan, including
its planned purchase by Republic Airways.
Indianapolis-based Enterprise Electrical & Mechanical Co. has acquired The Freije Company, a 50-year-old local firm that
specializes in refrigeration-systems design, installation and service.
Converse-based First Farmers Financial Corp. said this morning it has agreed to acquire CB Bank Shares Inc. in Russiaville.
Southwest Airlines Co.’s bid for Denver-based Frontier Airlines Holdings Inc. may have hit turbulence, according to the Dallas
Morning News.
Mergers and acquisitions have all but ground to a halt because of lack of credit, disparate expectations between buyers and
sellers, and hesitance on the part of buyers to deploy their capital.
The Promotion Co Inc., an Indianapolis-based event promoter, said today that it has acquired the Monster Nationals series
of monster-truck shows from Image Promotions Inc. in Chardon, Ohio.
Republic Airways Holdings says it has completed its acquisition of privately held Midwest Airlines
for $31 million in cash and debt.
Investors in a company built around clinical research software bought from Eli Lilly and Co. have found their exit, though
it’s far from the lucrative payoff they’d once imagined.
Midland, Mich.-based Dow Chemical Co. is still considering divesting Indianapolis subsidiary Dow AgroSciences LLC. But chances
that the chemical manufacturing giant will sell its local agricultural chemical and biotech unit have decreased.
