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October 22, 2019
The preparation with Myonexus pays off for Michael Triplett
By Jayne Gest
Selling can be emotionally exhausting, but Michael Triplett knows extensive preparation was critical for the successful sale of Myonexus Therapeutics to Sarepta Therapeutics earlier this year. He looks back on the $165 million deal.
October 21, 2019
Nationwide invests in Upstream Security
Upstream Security, Israel-based company that provides cybersecurity for connected vehicles, raised $30 million in a Series B funding round backed by a prominent syndicate of investors, including some of the world’s largest OEM automotive vehicle manufacturers, insurance and fleet operators.
October 18, 2019
Always on the lookout for opportunities, Rhett Ricart sees talent as key
Rhett Ricart, who has bought and sold a number of dealerships over the years for Ricart Automotive, shares his M&A strategies and how the family business is tackling succession planning.
October 17, 2019
Piston Group buys Marion Industries
Piston Automotive, a subsidiary of the Piston Group formed by Detroit businessman and NBA legend Vinnie Johnson, has acquired Ohio-based Marion Industries, a Tier 1 assembler of brake modules for Honda of America. The deal expands Piston Automotive’s footprint into the Central Ohio region and further diversifies the company’s growing list of OEM customers.
October 16, 2019
Tom Walker: Startups are destined to be the next corporates
The president and CEO of Rev1 Ventures shares three ways corporations are seeking to shape this trend and tapping into the forces of external entrepreneurship.
October 10, 2019
These sisters roll up their sleeves for the nitty gritty hard work of growing The W Nail Bar
Manda Mason and Lauren Hunter share the story behind their rapidly growing nail salon business, which includes a unique store-within-a-store partnership deal with DSW.
October 8, 2019
FedEx truck terminal sold to Sealy & Co.
Sealy & Company, a Dallas-headquartered commercial real estate investment and operating company in the industrial real estate market, has acquired a 252-dock door Class A truck terminal in West Jefferson. The facility’s accessible location and rapidly expanding bulk industrial submarket made it attractive to Sealy.
October 8, 2019
Battelle sells DroneDefender assets
Dedrone, a San Francisco company that specializes in counter-small unmanned aircraft systems technology, has purchased all assets and intellectual property associated with DroneDefender from Battelle. Dedrone plans to launch a new consultancy that detects and classifies airspace activity, protects assets from drone threats and defeats adversary drones.
October 7, 2019
Worthington Industries Buys Heidtman Steel Processing Facility
The facility will complement Columbus-based Worthington’s network of facilities in Northeast Ohio, including its cold rolled steel processing facility in Cleveland and Samuel Steel Pickling Co., a joint venture, in Cleveland and Twinsburg.
October 3, 2019
Safelite's Tom Feeney: Speed, Focus Are Keys To Integration
After 100 deals during his time at Safelite, the CEO says he may have slowed the number of acquisitions, but he won't slow the pace of integrating the companies he does buy.
September 27, 2019
2019 Columbus Dealmaker Of The Year Awards
The Smart Business Dealmakers Conference brought together hundreds of entrepreneurs, investors and advisers at the Hilton Columbus Downtown on Sept. 25. During the conference, Smart Business
September 24, 2019
Deal Veteran Mike Sayre Pulls Back Curtain With Lessons Learned
Innovative Leadership Institute President Mike Sayre shares lessons learned from decades of dealmaking.
September 24, 2019
Vail Resorts closes deal for 17 US ski areas
Local Deals Cleveland Columbus PhiladelphiaSeptember 23, 2019
Ohio Transmission Corp buys Tennessee compressed air company
Local Deals Columbus
September 23, 2019
Bold Penguin raises $32M in Series B funding
Insuretech startup Bold Penguin Inc. completed a $32 million Series B funding round. The Columbus company, which has raised $51.8 million to date, will use the funds to accelerate R&D by way of growing its employee roster, which doubled in the past year, and lay runway for firm’s expansion into specialty markets that insure high-risk segments.
September 20, 2019
Hugh Cathey: Smart Fundraising Requires Monitoring Market
Serial entrepreneur Hugh Cathey, now on his ninth startup with genetic testing company ChromoCare, shares his best practices for raising capital.
September 18, 2019
NextChapter sold to Fastcase
Fastcase, a Washington D.C. legal publisher, has acquired NextChapter, the Columbus startup that creates cloud-based bankruptcy software for attorneys and paralegals. Fastcase plans to invest in NextChapter to create products that integrate legal research, dockets and news, for bankruptcy and beyond.
September 13, 2019
Ikove Takes High Risks For Big Returns In Tech Commercialization
Ikove Capital Partners keeps a low profile, investing at the founder level in companies that commercialize technologies in partnership with Midwest research institutions like Ohio State. By the end of next year, it expects to have 20-plus companies in a portfolio that already includes Nikola Labs, ParaGen Technologies and Cognovi Labs.
September 12, 2019
Hyperion to buy German-based AFC
Hyperion Materials & Technologies Inc., a Worthington-headquartered materials science company focused on the hard and superhard materials space for high-precision applications, has agreed to acquire Arno Friedrichs Hartmetall GmbH & Co. KG and its affiliates. The strategic transaction is intended to make Hyperion a leading player in cemented carbide blank production.
September 9, 2019
Root raises $350M in Series E funding; now valued at $3.65B
This latest round, led by DST Global and Coatue, raises Root’s valuation to $3.65 billion and provides additional capital to accelerate growth in existing markets while expanding into new states and developing new product lines.
September 6, 2019
Alpha invests in opportunity zone near Rickenbacker
Local Deals Columbus Pittsburgh
September 6, 2019
Mark Kovacevich: Culture Is King In Acquisitions
For Improving's Mark Kovacevich, the critical component to acquisitions has always been culture. “If the culture doesn’t work, the transaction is just not [going to work],” he says.
September 6, 2019
Before Buying, Consider Challenges As Well As Opportunities
Chris Gabrelcik always sees potential opportunities when looking to buy a company. But the CEO of Lubrication Specialties has to remind himself to bring a critical eye to the deal.
September 4, 2019
SPAGIO restaurant sold
SPAGIO, the Grandview restaurant and wine lounge founded by Chef Hubert Seifert and his wife, Helga, 38 years ago, has been sold to a Central Ohio-based restaurant group. Wine|Dine Holdings and cityBRANDS own and operate several restaurant concepts throughout the area, including The Wine Bistro, NAPA kitchen + bar and Katzinger’s Delicatessen.
September 4, 2019
Boston REIT completes $90.5M of purchases in four markets
Local Deals Chicago Columbus
September 4, 2019
Safelite buys Auto Glass Specialists
Safelite® Group, a vehicle glass services and recalibration company and owner of Safelite® AutoGlass, has acquired the assets of Auto Glass Specialists. The single store location in Glenwood Springs, Colorado, will expand Safelite’s brick-and-mortar footprint in the area.
August 29, 2019
Innkeeper Ellen Grinsfelder Finds The Right Buyer Second Time Around
The first time Ellen Grinsfelder tried to sell the Inn & Spa at Cedar Falls was a bust. Three years later, she sold it without ever having to list it. Here's how she did it.
August 28, 2019
Ilya Bodner blazes insuretech trail with Bold Penguin
Serial entrepreneur Ilya Bodner says every startup needs an idea, capital and great people. That's become the lens through which he makes all his decisions in building Bold Penguin, his fast-growing insuretech business.
August 21, 2019
BestTransport purchased by Canadian firm
Descartes Systems Group has acquired Columbus-headquartered BestTransport.com Inc., a cloud-based transportation management system provider focused on flatbed-intensive manufacturers and distributors, for $11.2 million. The deal should strengthen the Ontario company’s transportation management footprint.
August 21, 2019
Courtyard Columbus-Worthington sold
Commonwealth Hotels LLC has bought the Courtyard Columbus-Worthington in order to expand its reach in the Columbus market through the Worthington property. The transaction is the Cincinnati-Northern Kentucky metropolitan area company’s fourth Courtyard and 21 Marriott hotel.
August 21, 2019
How Advanced Drainage Systems Fast-Tracked Infiltrator Acquisition
CEO Scott Barbour grabbed the pole position, and never let his foot off the gas in his bid to close the $1 billion deal.
August 19, 2019
Installed Building Products buys Therm-Con
Installed Building Products Inc., an installer of insulation and complementary building products, has acquired Therm-Con LLC and Foamtech Inc. With trailing 12-month revenue of $4.7 million, Therm-Con enhances IBP’s presence in markets throughout Tennessee and its surrounding states.
August 19, 2019
Safelite Group to buy TruRoad
Safelite® Group has agreed to acquire the combined businesses of TruRoad, which includes COP TruRoad Parent LLC and COS SCS Parent LLC, from Dallas PE firm CenterOak Partners LLC. With this deal, Safelite will have increased capacity to expand its national footprint, accelerate growth and better serve its customers and clients.
August 16, 2019
VentureOhio’s Tabs Top 50 Startups To Watch
Columbus’ startup culture is bustling, with 24 Central Ohio companies called out by VentureOhio in its 2019 list of Ohio’s top 50 most promising startups. Northeast Ohio has 10 startups on the list.
August 15, 2019
GhostWave's Dean Zody pinpoints route to commercialization
GhostWave founder Dean Zody discusses his company, which grew out of research at The Ohio State University, and its progress toward scale and commercialization.
August 8, 2019
Structuring Your Own Deal: 'They Thought We Were Nuts'
When the co-owners of Two Men and A Truck – Columbus came up with a unique plan to sell their franchise to an employee, their lawyers were skeptical. Very skeptical. But after two false starts, Gail and John Kelley sold the moving company's No. 2 franchise.
August 6, 2019
Collaboration, corporates draw Heartland Ventures to Columbus
South Bend, Ind.-based Heartland Ventures, which focuses on connecting startups to corporations, picked Columbus out of 15 Midwest cities for expansion because of the corporate involvement in the city's collaborative early-stage community.
August 1, 2019
ADS buys Infiltrator Water Technologies
Advanced Drainage Systems Inc. has acquired Infiltrator Water Technologies for approximately $1.08 billion, from an affiliate of the Ontario Teachers’ Pension Plan and other stockholders. The deal builds on ADS’ existing water management solutions platform and is an opportunity to expand into the on-site septic business.
August 1, 2019
COHatch's Matt Davis Seeks To Connect Startups To Investors
The founder of COhatch discusses how it fits — or doesn’t — into the coworking space, and how he hopes to leverage the business to strengthen startup communities.
July 31, 2019
Nationwide invests in pet app VitusVet
Nationwide has made another strategic investment in VitusVet, a provider of mobile solutions for pet owners and veterinary practices. Nationwide will also serve on the VitusVet board of directors.
July 30, 2019
Drive Capital invests in Physna
The early stage technology startup in Cincinnati completed a $6.9 million Series A round of financing led by Columbus-based Capital.
July 25, 2019
Kassel Equity Shifts Buying From Properties To Businesses
After cutting his teeth on real estate investing, Kassel Equity found it could create more value in buying businesses than properties, says Managing Partner Brett Motherwell.
July 23, 2019
Vail Resorts buys 17 U.S. ski areas for $264 million
The acquisition includes Alpine Valley, Boston Mills, Brandywine and Mad River Mountain in Ohio; and Liberty Mountain Resort, Roundtop Mountain Resort, Whitetail Resort, Jack Frost and Big Boulder in Pennsylvania.
July 22, 2019
REIT buys distribution center leased to Pepsi unit
Canada's Granite REIT bought a total of three industrial properties including an 802,390-square-foot distribution center near Rickenbacker International Airport.
July 17, 2019
Ice Miller’s Michael Jordan: Investor Appetite For Alternatives Remains High
Michael Jordan didn’t expect to become an expert in investor-side representation for alternative investments. He stumbled into the niche 22 years ago. Here's what he's seeing in the marketplace.
July 10, 2019
Rachel Angel Preps Peerro For Growth
Founder Rachel Angel discusses how she wants to grow Peerro by helping create stronger employment connections between companies and young adults.
July 10, 2019
Green Growth Brands combines with MXY Holdings
Green Growth Brands Inc. has agreed to create a new Ontario limited partnership with MXY Holdings LLC, among others, where GGB will acquire the issued and outstanding units of Moxie in an all-equity interest transaction for around $310 million. The plan is to create the first 360-degree cannabis company.
July 9, 2019
Navigator Management Partners purchased by Avaap
Avaap has acquired Columbus-based Navigator Management Partners, a cross-platform management and technology consulting firm specializing in ERP systems, business intelligence and change management. The strategic acquisition expands the Edison, New Jersey, firm’s capabilities.
July 2, 2019
Alliance Data completes Epsilon sale
Alliance Data plans to use the net sale proceeds to repurchase shares and pay down corporate debt.
July 2, 2019
Finance Fund plays vital investment role in local communities
Finance Fund connects underserved communities in Ohio with public and private sources of capital to improve access to healthy food, health care service, education and affordable housing.
June 26, 2019
Aggressive buyers fast-track due diligence in seller’s market
It’s a seller’s market, and large strategic buyers are being very aggressive — in some cases, short-cutting due diligence processes, says Wade Kozich, senior advisor with boutique investment bank Footprint Capital and senior director at GBQ Partners.
June 19, 2019
For Allison Finkelstein, cap tables play critical role in investing
Startup founders should focus on how to achieve reasonable growth to get the next round of funding, the experience angel investor says.
June 18, 2019
Ohio Transmission Corp. buys Wisconsin, Minnesota companies
Furey Filter & Pump and PSI Engineering will continue to operate under their current names and with current management, including President George Furey and Vice President Jack Furey.
June 12, 2019
Family offices grow in number and sophistication
Private banker Reese Fields discusses how family offices operate, including balancing privacy with connecting to potential investments.
June 11, 2019
Wolfe family sells four broadcast properties for $535M
The Dispatch Broadcast Group has agreed to sell two television stations — Columbus CBS affiliate WBNS and Indianapolis NBC affiliate WTHR — as well as sports radio station, WBNS Radio, to Virginia-based TEGNA Inc. for $535 million in cash. TEGNA sees the acquisitions as an excellent strategic and financial fit.
June 6, 2019
Braxton Miller learns the Xs and Os of investing
Braxton Miller isn’t just putting time in on a football field these days. He’s turned to business — investing in and endorsing several brands.
June 5, 2019
Quantum Health’s Kara Trott on raising capital without losing control
How the CEO of the health care company brought on three rounds of investors, while keeping control of the business she founded.
June 3, 2019
Prime Equipment Group Acquired In $65M Deal
The manufacturer of turnkey primary and water re-use solutions to the poultry industry was acquired by Chicago-based JBT Corp.
May 29, 2019
Beam Dental raises $55M Series D round
The fast-growing dental benefits provider raised a Series D round led by Toronto PE firm, Georgian Partners. Columbus-based Drive Capital, which was involved in two previous funding rounds, participated in the latest capital raise as well.
May 29, 2019
Ryan and Hoa McManus go full throttle with microtransit startup SHARE
After quietly raising $5 million, the microtransit business is expanding into Cleveland, Cincinnati, Detroit, Indianapolis and Dallas, with more cities on the way.
May 22, 2019
Stonehenge's Peter Davies: How to buy in a peak market
The managing partner of Stonehenge Partners shares his approach to buying with multiples approaching a peak, and how buying strategies have changed in the current environment.
May 20, 2019
Nationwide, State Auto Labs Invest In Virtual Claims Firm
Snapsheet, a provider of cloud-based insurance claims services, has closed $29 million in Series E funding led by Seattle-based Tola Capital.
May 17, 2019
Green Growth Brands raises $45M, closes Nevada deal
In addition to raising the general operating funds, the company completed its $13.4 million acquisition of a Pahrump, Nev., cultivation facility, its second in the state.
May 15, 2019
Ohio State builds momentum for innovation district development
For years, the future of The Ohio State University west campus has been up in the air. That’s changing with the first three buildings planned for an eventual innovation district.
May 14, 2019
Industrial Commercial Properties buys former Sears distribution center
Cleveland-based Industrial Commercial Properties LLC has acquired a 570,000-square-foot, former Sears distribution center on 42.8 acres, in the Columbus suburb of Groveport. This is ICP's fourth Sears property purchase since 2014.
May 13, 2019
British retailer to buy Certified Oil convenience stores, gas stations
EG Group will acquire Certified Oil and its 69 convenience stores and gas stations. The transaction will be an important step in building out the U.K.-based company's U.S. strategy.
May 8, 2019
Delta Energy’s Sheri Tackett: A tale of Two Sales
Sheri Tackett wasn’t prepared when she sold Delta Energy in 2012. When it came time to sell Delta Energy Services three years later, she didn’t make the same mistake twice.
May 6, 2019
Boston company acquires rights to Johnstown cannabis facility
Ohio Grown Therapies is building out its 32,000-square-foot cultivation and processing facility, which includes 15,000 square feet for two-tier cultivation and 7,500 square feet for processing.
May 1, 2019
Competitor Calios buys D.P. Dough, but calzone chain brand remains
The owners of D.P. Dough, the nation’s largest calzone franchise and third largest college-focused restaurant chain, have agreed to sell the Columbus-headquartered company to Calios, a 13-unit competing calzone chain. Each Calios restaurant will convert to D.P. Dough, growing the brand from 26 restaurants to 43 by fall 2019.
May 1, 2019
Drive Capital closes $307M fund, while raising another
Drive Capital has closed its third flagship fund at $307 million and raised nearly $251 million for its first overdrive fund, according to SEC filings.
May 1, 2019
Joe DeLoss nearly got burned before making Hot Chicken Takeover a success
From nearly missing payroll to expanding too quick, the founder survived missteps on the way to building one of the area's hottest fast-casual restaurant chains.
April 24, 2019
OTC's Philip Derrow: On ESOPs, culture and getting good advice
Ohio Transmission CEO Phil Derrow, talks about the challenges of ESOPs, openness during transactions and two important rules when making deals.
April 23, 2019
Transwestern Investment buys three industrial buildings in Columbus
Dallas-based Transwestern Investment Group has acquired a 1.5 million-square-foot industrial portfolio in Southeast Columbus.
April 18, 2019
Female founders on rise, as women-focused angel group disbands
Although X-Squared Angels disbanded at the end of last year as membership fizzled, early-stage and startup female founders appear to be on the rise. We talk to Cindi Englefield and Mary McCarthy of the Women’s Small Business Accelerator.
April 15, 2019
Green Growth Brands abandons hostile takeover bid
Green Growth Brands Inc. has ended its hostile takeover attempt of Aphria, with an agreement to accelerate the expiration of its offer on Aphria shares.
April 11, 2019
Good Night Medical’s Alan Rudy beats the drum for integration
Before he closes any deal, Alan Rudy gets to work on his ‘integration checklist’ — a list of the hundreds of tasks his team will execute to ensure a smooth transition. Learn how the CEO puts integration front and center in every deal.
April 10, 2019
Astute lands investment from Boston PE firm
Astute Inc. has received an investment from the Boston’s Audax Private Equity. This will allow the builder of AI-driven customer engagement software to continue to grow organically and through strategic acquisitions.
April 9, 2019
PSI establishes Silicon Valley innovation hub with strategic investment
Proteam Solutions, an IT consulting and staffing firm, has invested in the San Francisco-based startup Akava. PSI will have access to Bay Area talent and resources through the software development studio.
April 5, 2019
Rev1 Ventures hits $2B in economic impact in 6 years
In 2018 alone, Rev1 clients generated more than $123 million in revenue and attracted more than $157 million in capital to the region.
April 3, 2019
MentorcliQ’s Phil George
CEO Phil George shares MentorcliQ’s growth story – which includes raising $5 million in capital — and offers his advice for other founders.
April 1, 2019
ProBilt Services of Ohio acquired by Fontaine Modification
Truck upfitter ProBilt Services of Ohio, along with its 30,000 sq. ft. facility located less than half a mile from the Kenworth assembly plant in Chillicothe, has been acquired by Fontaine Modification.
April 1, 2019
Park National Corp., CAB Financial Corp. merge
Park National Corp. and CAB Financial Corp. have completed their merger, which folds CAB’s banking subsidiary in as a community banking division of The Park National Bank.
March 28, 2019
BrewDog USA’s crowdfunding model raises awareness along with money
Former CEO Tanisha Robinson explains how crowdfunding payed a key role in the beer maker's whirlwind growth in the U.S.
March 26, 2019
Investors press change at Bed, Bath & Beyond
Bed, Bath and Beyond is fending off a group of activist investors, concluding Cleveland's Ancora Advisors, demanding significant changes, including replacing both its CEO and its entire board.
March 26, 2019
Crane's Screen Machine acquires Diamond Z
Partnering the two material processing companies will help Screen Machine address the growing need for mobile material processing machines across a variety of industries.
March 20, 2019
Scotts Miracle-Gro dumps its stake in TruGreen for $234M
Scotts Miracle-Gro Co. has sold its 30 percent stake in TruGreen to the majority owner for approximately $234 million in a move to reduce debt and maximize shareholder value.
March 20, 2019
Budd Dairy Food Hall: Finding the next Cameron Mitchell
The new venture, backed by Cameron Mitchell Restaurants, will help chefs grow their concepts and build their businesses.
March 15, 2019
There is no ‘exit’ for restaurant investors
Investing in a restaurant sounds glamorous, doesn’t it? And that’s become truer as TV depicts chefs as rock stars. Veteran restauranteur Craig Barnum, who raised capital for his first restaurants more than 20 years ago, paints a different picture — one where there are no clear assets or exit timelines.
March 11, 2019
DLZ grows in Midwest with Johnson & Anderson acquisition
Architecture and engineering firm DLZ Corp. has acquired Johnson & Anderson Engineers, a civil engineering firm that works in the areas of municipal, water and wastewater engineering, survey and construction services.
March 8, 2019
L Brands pressed to spin off Victoria’s Secret
Activist investor Barington Capital is urging L Brands to spin off its struggling Victoria Secret brand, in part to protect its thriving Bath & Body Works brand, which Barington says should be taken
March 6, 2019
Startup future is bright — and diverse
Tom Walker talks about the startup climate and how Rev1 is encouraging startup diversity.
February 27, 2019
Dan Manges: Root Insurance's journey to unicorn status
Dan Manges shares Root's high-speed capital raising journey and meteoric rise to unicorn status.
February 27, 2019
Sarepta to buy Myonexus for $165M
Nationwide Children’s Hospital spinoff Myonexus Therapeutics, a clinical-stage gene therapy company, is being bought by Sarepta Therapeutics for $165 million.
January 24, 2019
Alan Homewood: Saying no was more important than saying yes
Founder Alan Homewood discusses the growth and sale of 2Checkout. "I made pretty much every mistake it’s possible to make. If there’s a checklist of the mistakes an entrepreneur can make, I made about all of them.”
January 22, 2019
Lazear Capital’s Ted Lape on transparency, creativity and the rise of ESOPs
Ted Lape talks about transparency in dealmaking, when ESOPs make sense and his most memorable deals.
December 20, 2018
ChromoCare’s Hugh Cathey learns from success — and failure
Master Dealmaker Hugh Cathey talks about what’s changed in M&A, one of his biggest deals and the importance of learning from career wins and losses.
December 19, 2018
Will past performance predict next M&A downturn?
Greif's Matthew Leahy sees a disconnect between public and private market valuations. Public markets value businesses based on forward earnings, whereas private transactions are generally trailing. "Public market investors could be too bearish, but at the same time, it creates an interesting nuance,” he says.
November 21, 2018
Strategic acquisitions can jumpstart your product development
President and CEO Dave Ciesinski talks about how Lancaster Colony uses M&A as a component of development and innovation.
November 20, 2018
A look at the present — and future — of Columbus’ economy
Columbus Partnership President and CEO Alex R. Fischer shares his insights into the next steps for Columbus’ economic development and economy.
October 26, 2018
A big payday for FacilitySource
CEO Bill Hayden was upfront with his FacilitySource team when it came time to discuss the firm's sale by PE firm Warburg Pincus. He asked them to judge him by his actions because he is confident there would be growth ahead.
