Craft beer events company Indiana On Tap sold to in-state buyer
Company founder Justin Knepp said Indiana on Tap’s sale was completed Friday morning to Andrew Cornwell.
Mergers & Acquisitions
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Walgreens agrees to be acquired by private equity firm for almost $10B
A buyout to take the drugstore chain private would give it more flexibility to make changes to improve its business without worrying about Wall Street’s reaction. Walgreens has been a public company since 1927.
Indianapolis-based startup Pillar acquired by fellow HR tech company
Pillar, which launched out of High Alpha in 2021, offers a platform employers can use to help evaluate job candidates during the interview process.
Taft expands into Florida through merger with Mrachek Law
Taft sought the merger because of the market dynamics in West Palm Beach and the growing needs of its clients to have a strategic beachhead in Florida.
Indianapolis-based Calumet to sell portion of Royal Purple business for $110M
The sale includes Royal Purple’s synthetic industrial product line, which encompasses gear lubricants, bio-environmental lubricants, stationary natural gas engine oils, hydraulic lubricants, and compressor oils.
Indianapolis-based Gate Neurosciences to acquire California-based startup
Indianapolis-based Gate Neurosciences, which is in clinical trials of a medicine to treat depression, plans to acquire California-based biotech startup Boost Neuroscience.
Thurston Springer acquires Florida-based financial firm
Indianapolis-based financial firm Thurston Springer Financial has acquired Florida-based Peak Reps in a deal that closed Jan. 31.
Allegion plans to acquire Australian company that makes door hardware
Allegion, which has made several acquisitions over the past year, is headquartered in Ireland, but its Americas division is based in Carmel.
Trump: Nippon Steel to invest in U.S. Steel instead of buying it
Nippon Steel in December 2023 made what was a nearly $15 billion bid to buy U.S. Steel, creating a sudden political issue in the 2024 presidential election.
Longtime builder Davis Homes acquired by Fort Wayne-based investment firm
Indianapolis-based Davis Homes, which has roots dating to the 1950s, is one the largest residential builders in central Indiana.
Financial Center to absorb Post Office Credit Union in merger
Financial Center First Credit Union, which is among the Indianapolis area’s largest credit unions, plans to merge with the Indianapolis Post Office Credit Union.
Bankrupt Spirit Air rebuffs new takeover offer from Frontier
Spirit Airlines Inc. rejected a new acquisition offer from the parent of Frontier Airlines but said it remains open to a long-discussed combination of the budget carriers.
New player arrives in U.S. Steel-Nippon takeover saga with goal of quashing it
U.S. Steel said it remains committed to pursuing a deal with Nippon, believing it is best for the U.S. steel industry, supply chains and for steel workers.
Local dealmakers say 2025 should be a big year for M&A activity
The promise of a lighter regulatory environment from the Trump administration, lingering effects of the pandemic and a proliferation of would-be buyers all suggest 2025 will be a year of robust dealmaking.
Mergers, acquisitions without publicly released financial details
Here are notable Indianapolis-area mergers and acquisitions that closed in 2024 for which financial details were not available.
Banks could see M&A growth in 2025 with more favorable regulatory environment
Will more Indiana-based banks will be included in M&A deals this year? Probably. And if recent trends hold true, those deals likely will involve Indiana banks acquiring out-of-state institutions, not other Indiana banks.
Cleveland-Cliffs CEO says he wants to buy U.S. Steel if Nippon deal fails
Comments by Cleveland-Cliffs chief executive Lourenco Goncalves came after the Biden administration over the weekend extended the deadline for Nippon to abandon its $14.9 billion bid for U.S. Steel to June.
Medical software provider hc1 completes $6.25M funding round
The company said the funds would help it take advantage of its technology and expertise after its recent acquisition of Accumen, a Scottsdale, Arizona-based health care consultant.
Lilly acquires Scorpion Therapeutics in deal worth up to $2.5B
The Indianapolis-based drugmaker will acquire Scorpion’s STX-478, a once-daily oral treatment in early trials for breast cancer and other advanced solid tumors.
Deadline extended on Nippon’s bid for U.S. Steel, offering hope that deal isn’t dead
The new deadline, now in mid-June, was viewed by U.S. Steel—and investors—as an opportunity for the companies to complete the acquisition.