Longtime insurance agency acquired by local rival
Property-casualty and employee benefits firm MJ Insurance buys Mead & Co., which dates to the 1860s.
Mergers & Acquisitions
Articles
T2 Systems might tap cash hoard for acquisitions
Fast-growing T2 Systems has been biding its time since scoring a $28 million equity infusion a year ago, but the maker of parking management software could soon be towing competitors out of its space.
Defender Direct acquires Williams Comfort Air
Home-security and satellite-dish installer Defender Direct Inc. has acquired local heating, cooling and plumbing powerhouse Williams Comfort Air, creating a home-services company with nearly 2,200 employees and $335 million in annual revenue.
Nyhart makes first West Coast acquisition
Indianapolis-based Nyhart Actuary & Employee Benefits has established its first office on the West Coast with its latest acquisition.
WellPoint dragged into Goldman Sachs suit
WellPoint Inc.’s $4.9 billion offer for Virginia-based Amerigroup Inc. apparently wasn’t the only—or even the most lucrative—offer for the Medicaid managed care company. But it was the deal surest to come to fruition before a key deadline for a big payout for Goldman Sachs & Co., according to a shareholder lawsuit filed Aug. 16 against the Amerigroup board of directors.
BrightPoint merger talks driven by ‘deal certainty’
When BrightPoint officials saw conditions in the cell phone distribution business take a turn for the worse, they were quick to cash out while the going was still good.
Duke Energy utilities probe continues after hearings
North Carolina utilities regulators said Friday they will continue their investigation into whether they were intentionally misled by executives and directors assembling the country's largest electric company.
Ex-Progress CEO says Duke tried to nix merger amid tensions
Bill Johnson, the man who was CEO of Duke Energy Corp. for eight hours after its $17.8 billion takeover of Progress Energy Inc., began testifying Thursday to the North Carolina Utilities Commission.
Author Solutions acquired by Pearson for $116M
London-based Pearson Plc has purchased Bloomington-based self publisher Author Solutions Inc., which has about 400 employees, most of whom are in Indiana, and had revenue in 2011 of $100 million.
Westfield health IT firm sold for $473 million
MaxIT’s 1,300 employees, who provide information technology services to hospitals and physician practices, will join Virginia-based Science Applications International Corp.
Meridian CPAs folding into larger Somerset firm
Four principals and about a dozen other staff accountants and support staff at Meridian will join Somerset in August. Somerset is Indianapolis’ seventh-largest accounting firm, based on the number of local full-time employees.
WellPoint using deals to prep for new era in insurance
The buying spree is back on at WellPoint Inc., with a twist. A decade ago, the insurer consolidated Blue Cross and Blue Shield plans that catered to employers. Today, it is making deals to grow the non-employer part of its business.
BrightPoint’s $840M sale ends wild ride for CEO Laikin
Bob Laikin started BrightPoint in 1989, when cellular phones were clunky and brick-like and were mostly for the wealthy.
Heartland Bancshares approves acquisition by Horizon
The deal, effective July 17, will give the Michigan City bank its first presence in Central Indiana.
Irving Materials acquires northern Indiana competitor
Greenfield-based Irving Materials Inc.’s purchase of Rock Industries in Peru brings its total number of mining operations in Indiana to 18. Rock Industries operates quarries in Peru and Plymouth.
BrightPoint to be acquired for $840M by California firm
Indianapolis-based BrightPoint Inc. has agreed to be acquired by California-based Ingram Micro Inc. for about $840 million, the two companies said early Monday morning.
RW Armstrong becomes unit of New York engineering firm
RW Armstrong and Associates Inc., Indianapolis’ fourth-largest engineering firm, has completed a merger with CHA Consulting Inc. that makes the local company a wholly-owned subsidiary of the Albany, N.Y.-based business.
Rolls-Royce buys out control-system joint venture
Rolls-Royce plc announced Friday that it will acquire the remaining half of Aero Engine Controls, which designs control systems for aircraft.
Fortune buyout would help exec out of financial jam
Sale to managers would alleviate problems for company’s 70-year-old namesake and keep firm from being seized by bank.
Calumet buying Royal Purple for about $335 million
Indianapolis-based Petroleum refiner Calumet Specialty Products Partners LP is buying high-performance lubricants maker Royal Purple Inc. of Porter, Texas, for about $335 million, the companies announced Wednesday morning.