Wellpoint sells subsidiary for $4.6B
WellPoint Inc. on April 13 sold its pharmacy benefits
management arm for $4.7 billion in cash and stock to St. Louis-based Express Scripts. WellPoint’s pharmacy subsidiaries,
called NextRx, dispensed and managed 265 million prescriptions annually for 25 million people.
Airways buys Midwest, Frontier airlines
Republic Airways Holdings on June 23 acquired Milwaukee-based
Midwest Airlines for $31 million in cash and debt from private-equity firm TPG Capital. On Oct. 1, Republic acquired Denver-based
Frontier Airlines Holdings for $108.8 million.
Norwood Promotional acquired in $162M deal
Promotional Products Inc., an Indianapolis-based supplier of promotional products, was sold June 19 to Bic Graphic USA for
$162.5 million. Clearwater, Fla.-based Bic Graphic USA, a division of ink pen and shaver maker Bic USA, paid $125 million
and assumed $37.5 million in liabilities for Norwood, which filed for Chapter 11 bankruptcy protection in May. Norwood, the
nation’s second-biggest seller of promotional products, moved its headquarters from Austin, Texas, to Indianapolis six
Lilly sells longtime Lafayette plant
Eli Lilly and Co. sold its Tippecanoe
Laboratories manufacturing plant in Lafayette to Germany-based Evonik Industries AG in October for $36 million.
Hat World acquires Sports Fan-Attic chain
Locally based Hat World Inc. acquired Sports Fan-Attic
Inc., a Tampa-based, 37-store athletic retail chain focused on collegiate and professional sports licensed clothing, for $26.4
million. Hat World is owned by Nashville, Tenn.-based Genesco Inc.
Consona makes $20M software acquisition
Consona Corp. on April 6 acquired the enterprise-software-related assets of Redwood City, Calif.-based SupportSoft
Inc. for about $20 million in cash. Consona, formerly Made2Manage Systems Inc., provides customer-relationship-management
software and enterprise-resource-planning software primarily to manufacturers.
Old National completes $16M
Charter One deal
Evansville-based Old National Bancorp on March 23 completed its nearly $16 million acquisition
of 65 Charter One retail branches in Indiana from Providence, R.I.-based Citizens Financial Group. The deal was announced
in November 2008. Most of the branches are in the Indianapolis area.
Arcadia sells four businesses for
Arcadia Resources Inc., an Indianapolis-based provider of health care services, on June
18 and 19 sold its home health equipment businesses for the Southeastern and Midwestern regions for a total of $8.8 million.
On June 29, Arcadia sold its Grayrose Inc. industrial staffing business for $250,000. On July 11, Arcadia sold its Jascorp
LLC retail pharmacy software business for $2.2 million. Arcadia did not disclose the buyers.
Man Alive rebranding attempt
The Finish Line said June 22 it had ended an unsuccessful attempt to rebrand
and revitalize its struggling Man Alive stores by agreeing to part with the 75-store clothing chain. Indianapolis-based Finish
Line paid $7 million to Man Alive Acquisition LLC, which is controlled by Brooklyn-based Jimmy Jazz, to take Man Alive assets
and liabilities off its hands. The sale is expected to close in early July.
Interactive Intelligence acquires
Indianapolis-based Interactive Intelligence Inc. on May 18 acquired AcroSoft Corp.—a Columbia,
S.C., firm that provides document-management services to the insurance industry—for $2.4 million. AcroSoft, founded
in 1996, has 13 full-time employees and more than 40 customers in the midsize property-and-casualty and life insurance markets.
Irwin Financial sells mortgage serving business
Irwin Financial Corp. in Columbus in March
sold its Irwin Home Equity Corp. mortgage servicing business to Green Tree Servicing LLC of St. Paul, Minn., for $2 million.
Emmis sells Belgian radio operation
Emmis Communications Corp. on May 29 sold its radio
operations in Belgium to Belgium-based Alfacam Group NV for $70.•