Mergers & Acquisitions

Herff Jones sells photography division

April 11, 2011
Kathleen McLaughlin
Indianapolis-based class ring and yearbook maker Herff Jones will sell its photography division to Lifetouch Inc., the company announced Monday.
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High-end home audio gear will be made in IndianaRestricted Content

March 26, 2011
Kathleen McLaughlin
A team of former Klipsch Group engineers has spent the two years trying to infuse high-end home audio equipment with the all-in-one sophistication of a smartphone.
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Drugmakers call off animal-health deal, possible asset sale

March 22, 2011
 IBJ Staff and Bloomberg News
Drugmakers Merck & Co. and Sanofi-Aventis SA have abandoned plans to combine their animal-health businesses after wrestling with regulators for a year over potential divestitures. Indianapolis-based Eli Lilly and Co. was among a list of possible suitors for about $1 billion in assets the two companies considered selling.
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Lilly agrees to buy European animal health company

March 14, 2011
J.K. Wall
Elanco, the animal health division of Eli Lilly and Co., has agreed to acquire Jannsen Animal Health, a subsidiary of New Jersey-based Johnson & Johnson, pending regulatory approval. Financial terms of the deal were not disclosed.
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Midway Produce acquired by U.S. Foodservice

February 21, 2011
Founded in 1999, Indianapolis-based Midway Produce mostly distributes produce to restaurants, health care facilities and schools throughout central Indiana.
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Old National-Monroe merger costing 59 jobs

February 17, 2011
 IBJ Staff
Almost 60 employees of Old National Bank and Monroe Bank are losing their jobs as the financial institutions combine their operations.
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Booster groups Indy Partnership, Develop Indy to merge

February 15, 2011
Cory Schouten
Local economic development groups Indy Partnership and Develop Indy plan to combine operations to save money and more effectively pitch the city and region to potential job creators.
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Klipsch selling for $166M, Audiovox says

February 3, 2011
 IBJ Staff
Klipsch will become a subsidiary of Audiovox and operate as a stand-alone operation in Indianapolis under the leadership of the current management team, Audiovox said.
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Marcadia may fetch up to $537 million in sale

February 2, 2011
J.K. Wall
The December sale of Carmel-based Marcadia Biotech to Roche garnered at least $287 million—and as much as $537 million—for the company’s owners and could lead the Marcadia management team to launch a firm using one of Marcadia’s experimental diabetes medicines.
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21st Century Fund pockets a payoff from saleRestricted Content

January 22, 2011
Chris O'Malley
The state’s principal fund investing in high-tech companies has reached a milestone—for the first time recouping all the money it granted an emerging company, and then some.
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Simon Property abandons offer for Capital Shopping

January 11, 2011
Bloomberg News
Simon Property Group Inc., the largest U.S. shopping mall owner, abandoned its $4.5 billion bid for Capital Shopping Centres Group Plc after the British company resisted Simon’s takeover interest.
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Duke Energy plans acquisition, new CEO

January 10, 2011
Bloomberg News
Duke Energy Corp. announced Monday an agreement to buy Progress Energy Inc. and put Progress CEO William Johnson in charge of what will be the largest U.S. utility.
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Ratio Architects acquires North Carolina firm

January 10, 2011
Scott Olson
Ratio Architects Inc., the area's fourth-largest architectural firm, has acquired Cherry Huffman Architects in Raleigh, N.C.
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Aprimo sale may usher in 'new wave' of tech dealsRestricted Content

January 8, 2011
Chris O'Malley
Observers say conditions are ripening for more deals like the recent $525 million sale of Aprimo Inc. in the months ahead—not only among IT firms, but also among biotech companies here.
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Audiovox agrees to buy local speaker maker Klipsch

January 7, 2011
 IBJ Staff
Audiovox said in a statement, though, that the deal is "subject to a number of contingencies." Indianapolis-based Klipsch was founded in 1945 and has 130 local employees.
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OfficeWorks acquires competitor’s local operations

January 7, 2011
Fishers-based furniture dealer and office space designer is purchasing the assets of Columbus, Ohio-based Continental Office Environment's Indianapolis location on East 33rd Street. Both companies are Herman Miller dealers.
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Shareholders approve FinishMaster deal

January 7, 2011
 IBJ Staff
FinishMaster Inc.’s shareholders this week approved a deal to sell the Indianapolis-based company to a subsidiary of Uni-Select Inc. for $172 million.
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Roche aims to prevent bidding war for software firm

January 7, 2011
J.K. Wall
The Swiss company, which operates its North American business out of Indianapolis, filed a lawsuit late last month against Virginia-based Medical Automation Systems Inc. for breaching the purchase agreement the companies signed back in October.
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Simon target's valuation 'out of reach' for Indianapolis firm

January 7, 2011
Bloomberg News
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
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Simon loses battle for General Growth

December 24, 2010
Cory Schouten
Just as shoppers began spending more cash at Simon Property Group Inc. malls, the Indianapolis real estate giant tried to open its own wallet for three huge deals—to mixed results.
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UPDATE: Aprimo will stay put after $525M acquisition

December 22, 2010
Chris O'Malley
Marketing software company Aprimo Inc. will stay in Indianapolis after being sold for $525 million to Dayton, Ohio-based based data storage giant Teradata Corp., Aprimo CEO Bill Godfrey said Wednesday.
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Software firm Aprimo to be sold for $525M

December 22, 2010
 IBJ Staff and Associated Press
Indianapolis-based marketing software maker Aprimo Inc. will be sold to an Ohio data-storage company for $525 million, Teradata Corp. said Wednesday. Aprimo, led by co-founder Bill Godfrey, pulled plans to go public two years ago.
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Simon Property likely to continue pursuit of British mall ownerRestricted Content

December 18, 2010
 IBJ Staff and Bloomberg News
In rejecting Simon’s offer, London-based Capital Shopping Centres Group said the cash bid “very substantially undervalues the company and its prospects."
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Simon bids $4.6B for U.K.'s Capital Shopping

December 15, 2010
Bloomberg News
Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, made an offer for Capital Shopping Centres Group Plc that values the U.K. company at $4.6 billion.
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Sale of 118-year-old bank symptom of tough timesRestricted Content

December 11, 2010
Greg Andrews
A sale is suddenly more appealing to Monroe Bancorp and other financial institutions that used to be fiercely independent.
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  1. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

  2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

  3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

  5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

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