Celadon acquires Canadian trucking company
Hyndman Transport Limited, based in Wroxeter, Ontario, operates about 175 tractors and brought in roughly $48 million in revenue in 2012.
Mergers & Acquisitions
Articles
Lids acquiring Kentucky sporting goods chain
The CEO of a private equity firm that helped fund the Lexington-based Fan Outfitters chain said new regulations imposed by the Affordable Care Act prompted the group to look at the offer from Lids.
Spate of banking mergers may be just the beginning
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.
Sherry Labs snapped up by Netherlands corporation
The materials-testing business with nearly 300 employees has been acquired by Element Materials Technology. Sherry had been owned by a group of well-connected central Indiana businessmen.
ExactTarget lands on tech shopping list for buyout
ExactTarget Inc.’s strong position in digital marketing has made the Indianapolis company a tempting acquisition target for Salesforce.com and other tech-industry suitors, Wall Street analysts believe.
Two of city’s largest credit unions set to merge
Horizon One Federal Credit Union, founded in 1949 to serve General Motors metal-stamping plant employees in Indianapolis, is merging with Financial Center Credit Union.
Fortune Industries set to accept $13.3M buyout offer
The proposed buyer is CEP Inc., a holding company led by Fortune Industries CEO Tena Mayberry and Chief Financial Officer Randy Butler, who first bid for the company last March.
Office Depot agrees to buy OfficeMax for about $1.2B
The move would combine the No. 2 and No. 3 office supply retailers and lead to consolidation in an industry that analysts say is over-stored. Office Depot has eight stores in the Indianapolis area and OfficeMax has five.
Two neighboring utilities united by fiber in Hancock County
Unusual merger of Hancock Telecom and Central Indiana Power is paving the way for network deployment in rural areas.
American, US Airways to merge, create world’s biggest carrier
The $11 billion deal could well result in the elimination of some overlapping routes the carriers operate out of Indianapolis International Airport. Together, the two airlines have a combined market share of nearly 24 percent in Indianapolis.
Calumet’s 2012 profit rockets to $205.7 million
An acquisition spree helped oil refiner Calumet Specialty Products increase profit almost five-fold in 2012, the Indianapolis-based company reported Wednesday morning.
Firm’s Klipsch purchase hasn’t rocked Wall Street
Voxx International Corp.’s $166 million buyout of Indianapolis-based speaker maker Klipsch Group two years ago so far hasn’t generated the excitement on Wall Street that Voxx wants.
Barnes & Thornburg’s longtime chief gives suitors cold shoulder
Alan Levin has been managing partner of Barnes & Thornburg LLP for 16 years, far longer than the heads of most major Indianapolis law firms. But what most sets him apart is that he’s built his firm into a national practice by taking the maverick approach of going it alone instead of merging with an out-of-state rival.
Local buyout firm acquires New York shapewear maker
Indianapolis investment firm E&A Industries has acquired a fast-growing New York apparel firm specializing in body-slimming fashions, the companies announced Tuesday.
Local tooling manufacturer acquired by private-equity firm
Techniks Inc., a designer and distributor of industrial cutting tools, has been acquired by Tenex Capital Management. Tenex, in turn, merged Techniks into another of its companies, Jasper-based Nap Gladu, to form a new holding company.
Local Taco Bell franchisee acquired by California firm
Southern Bells Inc., an Indianapolis-based franchisee that operates 76 regional fast-food restaurants, has been acquired by the country’s largest franchisee of Applebee’s restaurants.
Muncie-based glass maker to be sold for $1.6B
Ardagh Group said it has agreed to buy Indiana-based glass bottle and jar manufacturer Verallia North America, which has about 4,400 employees at 13 manufacturing plants in the United States, including more than 650 workers in Indiana.
Tobias Insurance agency merges with Florida firm
Tobias Insurance, the Indianapolis area’s eighth-largest independent insurance brokerage, is now part of Florida-based AssuredPartners. Tobias will retain its name, employees and leadership.
Local elevator service firm bought by German company
The Indianapolis elevator repair and installation company has been acquired by ThyssenKrupp AG. Amco Elevator was founded in 1965 and had been locally owned until the purchase.
Big drug deals expected to return in 2013
Pharmaceutical companies including Pfizer Inc., Bristol-Myers Squibb Co. and Eli Lilly and Co. could be ready to start making major acquisitions again.