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.
Deals
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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
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.
Out-of-state firms are sweeping up Indiana’s tech startups. Is that a good thing?
Experts are mixed on whether the buyout barrage is cause for concern or validation of success.
Lilly execs: $8B acquisition feeds into cancer drug strategy
Drug industry analysts on Monday applauded Eli Lilly and Co.’s pending $8 billion cash deal to buy a startup that focuses on oncology, which has become a prime focus for the pharma giant in the last year.
Carmel-based Orbis Education to be acquired for $362.5M by public company
Orbis was founded in 2003 by Daniel Briggs, who now serves as the company’s chief growth officer. The firm markets and manages health care programs for academic institutions and health care systems.
Carmel-based Merchants Bancorp to acquire Florida-based lender
NattyMac, which was established in 2004, has a historical connection with Indianapolis and was sold to its current owner in 2017 for $211 million.
Greenwood-based One Click Ventures acquired by eyewear heavyweight
Randy Stocklin, who founded the company with his wife, Angie Stocklin, will remain with the company.
Novartis nearly doubled its Endocyte bid during drawn-out courtship
The escalation in per-share price—which far exceeds that of other recent deals involving Indiana public companies—reflects the unique nature of M&A in the pharmaceutical realm.