First Merchants to acquire Indianapolis-based Hoosier Trust Co.
Muncie-based First Merchants plans to acquire Hoosier Trust for $3.2 million in a deal that is expected to close early next year.
Deals
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Simon, partners plan to shake up merchandise mix at J.C. Penney
Simon Property Group, which is expected to acquire J.C. Penney out of bankruptcy with partners in an agreement approved Monday, reported third-quarter results that fell short of Wall Street expectations.
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400-unit apartment property in Castleton sells for $36.5M
The sale of the 37-year-old complex near Interstate 69 and 82nd Street gives Muesing Management 19 properties in the Indianapolis area.
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Celadon selling Andy Warhol prints as part of bankruptcy
The Warhol screen prints, four brightly colored pieces depicting tractor trailer trucks, hung in the trucking company’s corporate offices.
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Wise says restaurant chain’s failure led to personal bankruptcy
Former Scotty’s Brewhouse owner Scott Wise and his wife, Amy, filed for Chapter 13 bankruptcy protection last week in U.S. Bankruptcy Court for the Southern District of Indiana.
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Articles
Indianapolis-based IMH Products acquires Brownsburg manufacturer
IMH said it plans to move Mainstay’s equipment and its 38 employees to its Indianapolis facilities by year’s end. Both companies are in the metal fabrication business.
Software firm Emarsys acquired by German firm
Emarsys, a marketing software company based in Austria, has its North American headquarters in Indianapolis.
Indianapolis personal care products manufacturer Mansfield-King acquired
Founded in 2005 by Charles Haywood, Mansfield-King develops and manufactures products that are sold under its customers’ brand names. The east-side company has 154 employees.
Plainfield-based MD Logistics acquired by Japan-based Nippon Express
MD Logistics says it will keep operating under the same name and does not expect any layoffs or consolidations as a result of the acquisition.
Westgate car dealership to be sold to Hoosier dealer group
The Plainfield business is bucking the trend of local dealerships getting scooped up by large national conglomerates.
Indianapolis-area Popeyes restaurants under new ownership
The new franchisee for the 16 Popeyes locations is Cincinnati-based Gilligan Co., which operates convenience stores and quick-service restaurants including Subway and Dunkin Donuts.
Former Celadon affiliate 19th Capital sold in deal that should save dozens of jobs
Two out-of-state financial services firms have acquired the assets of former Celadon Group Inc. affiliate 19th Capital Group in a deal that will allow the Indianapolis-based company to continue operating with a reduced workforce rather than shutting down as previously planned.
Ex-Brightpoint execs plan IPO to raise $100M for new tech firm
Novus Capital Corp. formed last month and is seeking to acquire companies “that are at the forefront of high technology.”
McCammon’s Irish Market acquires Brownsburg garden center
Greg and Lisa Frazee, who opened Frazee Gardens in 2008, will continue to own and operate Brownsburg Landscape Co., which they founded in 1987.
Tennessee company seeks to buy 20-acre Celadon site
If other bidders emerge for the property, an auction will be held Jan. 22 at the New York City office of Celadon’s bankruptcy counsel, DLA Piper LLP.
Calumet Specialty Products sells San Antonio refinery for $63 million
The San Antonio facility has a throughput capacity of 21,000 barrels a day and produces diesel, jet fuel, gasoline and other jet fuel products.
Broad Ripple restaurant assets to be auctioned
The Corner’s owners hope to sell its equipment, furnishings and liquor license Oct. 1. Nearby, Sun King Brewery is about to open Offshore, a seafood and beer restaurant, in the former Thr3e Wise Men space.
Allison Transmission acquires two companies for $103M
Allison, which makes automatic transmissions, acquired one of its long-time suppliers, plus a company that makes tools for that supplier.
Longtime local office-supplies firm plans merger, HQ move to Illinois
Independent Suppliers Group, formerly known as Independent Stationers, is merging with Rosemont, Illinois-based cooperative TriMega Purchasing Association and Chicago-based Pinnacle Affiliates.
Carmel-based Rook Security acquired by English firm
Rook Security, an 11-year-old firm that specializes in cyber-threat detection and response services, had been on a torrid growth pace for most of this decade but has downsized its workforce more than 60 percent over the past three years.
Fountain Square Brewing acquires New Day Craft in move to diversify
The deal, which closed this week, gives Fountain Square Brewing access to New Day’s lines of mead and hard cider as it tries to widen its distribution footprint.
Continuing to slim down and reduce debt, Celadon sells logistics division to Texas firm
As a result of the deal, Jon Russell, the son of Celadon co-founder Steve Russell, is expected to leave the company for a management position with the acquiring firm.
Trump says tariffs will stay until China complies with deal
The president’s comments dim hopes that round-the-clock trade negotiations between the world’s two biggest economies could lead to them removing the roughly $360 billion in tariffs they’ve imposed on each other’s imports.
Small firms put out for-sale signs
In central Indiana and nationwide, a number of small companies are changing hands right now—and for a variety of reasons. Among them: a strong economy, plentiful buyers and an aging population of owners who are eyeing retirement.