Primary care remains hot deal target as CVS makes $10.6B bid
CVS Health is seeking to buy Oak Street Health, which runs clinics that specialize in treating Medicare Advantage patients.
Mergers & Acquisitions
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Local accounting firm Somerset acquired by two out-of-state players
Somerset CPAs and Advisors, the fifth-largest accounting firm in Indianapolis, is now owned by CBIZ Inc., a financial firm based in Cleveland, and affiliated accounting firm Mayer Hoffman McCann PC.
Westfield-based Storage Solutions acquired by German firm for $375M
Jungheinrich AG sees purchasing the 45-year-old warehouse racking and automation company as part of its strategy to expand its geographic footprint. It says that it intends to keep Storage Solutions’ management team.
Elevance Health buys Louisiana insurer, pushing operations into 15th state
The two companies said the combination builds on a seven-year collaboration in Louisiana through joint ownership of Healthy Blue, which serves Medicaid and Medicare Dual Eligible members.
Pennsylvania-based Northwest Bank to open regional office in Fishers
Pennsylvania-based Northwest Bank, which entered the Indiana market in 2020 with its acquisition of Muncie-based MutualFirst, has been beefing up its local workforce since then.
New ownership plans to keep Fountain Square Brewing Co. in business
Fountain Square Brewing Co., founded in 2011, is expected to reopen for business after a sale closes in mid-January.
Dunham Rubber & Belting acquired by Georgia-based firm
Dunham, a 57-year-old Greenwood-based distributor, fabricator and manufacturer with locations in Shelbyville and Fort Wayne, was purchased by Belt Power LLC.
Taft completes merger with Detroit law firm
Taft is now comprised of more than 800 attorneys across 12 offices in eight primary Midwest markets and the District of Columbia.
2022 Year in Review: Cummins acquires Meritor in deal worth $3.7 billion
Meritor, which had 9,600 global employees pre-acquisition, is a leader in electric axle and brake technology.
2022 Year in Review: Prologis acquires Duke
The acquisition of one of Indianapolis’ largest public companies came after months-long negotiations between Duke and San Francisco-based Prologis and broadens the firm’s logistics and industrial holdings in key locations, including Southern California, New Jersey, South Florida, Chicago, Dallas and Atlanta.
Indianapolis metal fabricator sold to Pennsylvania company
Indianapolis-based Mi-Tech Tungsten Metals LLC has been acquired by Towanda, Pennsylvania-based Global Tungsten & Powders Corp.
Carmel-based Rangeline Solutions eyeing growth under new ownership
Rangeline Solutions, a Microsoft partner that offers supply-chain consulting services, has been acquired by Sweden-based Nexer, which plans to grow Rangeline’s Carmel office as part of its broader U.S. expansion plans.
Dealmaking slips by almost a third in 2022 marked by volatility, inflation
Megadeals announced early in the year were soon replaced by jitters about getting mergers and acquisitions over the finish line, with monthly deal activity plummeting by almost half from May to June. The volumes have yet to recover.
Great SPAC crash of 2022 deepens as investors cash out in droves
At least 80 special-purpose acquisition companies, which have raised $24 billion in total, face a wall of investor meetings that will give clients the chance to exit ahead of a new U.S. tax that could hurt their returns.
TrendyMinds acquires Fishers marketing agency
The Indianapolis-based digital marketing agency announced Wednesday it has acquired Fishers-based Statwax, a performance marketing agency that focuses on data science and analytics.
Idaho investment firm acquires controlling stake in Sharpen Technologies
Indianapolis-based Sharpen, which was founded in 2011, topped IBJ’s list of fastest-growing private companies last year.
FTC sues to block Microsoft-Activision Blizzard $69B merger
Xbox maker Microsoft has faced months of resistance from Sony, which makes the competing PlayStation console and has raised concerns with antitrust watchdogs around the world about losing access to popular game franchises such as Call of Duty.
Carmel printing-services firm acquired by Michigan marketing company
UN Communications Group, founded in 1975, will retain its staff and continue to operate in Carmel.
Emmis Corp. sells Indianapolis Monthly magazine
Founded in 1977 and originally known as Indianapolis Home & Garden, Indianapolis Monthly magazine was purchased by Emmis in 1988.
Corteva buys Houston-based plant biologics company for $1.2B
The acquisition is designed to accelerate Indianapolis-based Corteva’s biologicals business and make it one of the largest players in the market.