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March 20, 2020

Levin Furniture deal is reportedly off

By Jayne Gest

Pittsburgh-based Levin Furniture former President and owner Robert Levin’s agreement to come out of retirement to save the company has reportedly been called off.

Local Deals Pittsburgh
March 18, 2020

Vivek Gupta: A deliberate deal process will pay off for buyers

The more time you spend selecting the right acquisition and utilizing a thorough diligence process, the more likely you are to get better returns down the line, says Mastech Digital President and CEO Vivek Gupta. Based on his past experience, he provides advice for other buyers.

March 17, 2020

RoadRunner Recycling closes $28.6M Series C funding round

RoadRunner Recycling has raised a $28.6 million Series C financing round. The round was co-led by e.ventures and Greycroft, with additional participation from Franklin Templeton and existing investors, Adams Capital Management in Pittsburgh and FJ Labs.

March 16, 2020

Liberty Tire Recycling buys Lakin Tire

Liberty Tire Recycling, a Pittsburgh-based provider of tire recycling services, has acquired Lakin Tire, with support from its majority equity sponsor The Carlyle Group. The merger unites two complementary businesses.

March 6, 2020

PNC’s Gus Faucher doesn’t see a U.S. recession in the near future — even with global concerns

A recession isn’t on the horizon, thanks to factors like consumer spending, PNC Chief Economist Gus Faucher predicts. The U.S., though, may see slower growth in 2020. The X factor, however, could be an external shock like the coronavirus.

March 6, 2020

Pittsburgh 2020 Dealmaker of the Year Awards

Smart Business Dealmakers recognized some top deals and dealmakers in the Pittsburgh region at the Smart Business Dealmakers Conference on March 5. Here are the 2020 Dealmaker of the Year Award winners.

March 5, 2020

Robert Levin Makes Deal To Save Levin Furniture From Closing

Levin has reached an agreement to acquire the Pennsylvania and Ohio assets of Levin Furniture and Wolf Furniture through a court restructuring of the parent company Art Van Furniture LLC.

March 1, 2020

U.S. Steel buys remaining interest in USS-POSCO Industries

Pittsburgh-headquartered U.S. Steel has closed on the purchase of POSCO-California Corp.’s 50 percent partnership interest in USS-POSCO Industries. U.S. Steel and POSCAL believe ownership of UPI by a single group represents the best opportunity for UPI to continue operating effectively and serve its customers.

February 19, 2020

Kevin McPhillips: Taking an interest in employee ownership

While there's a level of unawareness of how employee stock ownership plans truly work, grassroots efforts and education are starting to pay off with business owners. Kevin McPhillips of the Pennsylvania Center for Employee Ownership explains how.

February 18, 2020

Gregory D. Cessna: How much due diligence is too much?

Gregory D. Cessna wonders if the ease of information sent through digital portals can bog down deal due diligence. He provides some tips for right sizing the due diligence for your next deal.

February 5, 2020

SinterMet sold to V&A Capital

New York PE firm V&A Capital has partnered with the management team of SinterMet LLC to acquire the company, which is headquartered near Pittsburgh. The firm plans to support SinterMet’s growth through increased product offerings, entering new end-markets and searching for complementary add-on acquisitions.

February 5, 2020

Maven Machines raises $7M in Series A funding

Maven Machines has raised $7 million in Series A funding, led by Allos Ventures, with additional participation from Hearst Ventures, Pittsburgh-based Riverfront Ventures, which is an affiliate of Innovation Works, Great Oaks Venture Capital and existing private investors.

February 4, 2020

Rich Lunak on the hot technology market in Pittsburgh

The market for technology companies and disruptive startups remains red hot in Pittsburgh. Innovation Works' Rich Lunak shares what he's seeing in terms of valuations and deal flow.

January 22, 2020

Jamie Van Buren coaches newly minted CEOs on buying and growth

Jamie Van Buren estimates he’s bought about 20 businesses over the course of his career, but today he truly enjoys mentoring young presidents and CEOs on buying companies and strategic initiatives to help the acquired company grow.

January 21, 2020

Incline Equity raises $1.165B for latest fund

Incline Equity Partners has closed Incline Equity Partners V, L.P. and Incline Equity Partners V-A, L.P. on $1.165 billion of capital commitments. The fund was oversubscribed above its initial target of $850 million.

January 16, 2020

John Roppo: Before the sale, focus on what you can control

John Roppo has found preparation critical to the sale process. The long-time CFO, who recently started his own consulting firm, gives some tips to help companies prep for sale and focus on what they can control.

January 15, 2020

Digital Dream Labs buys Anki Robotics & Artificial Intelligence assets

Digital Dream Labs has acquired Anki Robotics and Artificial Intelligence assets without taking on any liabilities, effective immediately. The Pittsburgh company plans to relaunch the product line, deploy new features and develop new robots.

January 15, 2020

Phoenix Rehab purchases Youngstown area clinics

Phoenix Rehabilitation and Health Services has acquired Youngstown-based TuDor Physical Therapy, which becomes the company’s first group of clinics in Ohio. This brings Phoenix’s total clinics to 117.

January 8, 2020

Wabtec purchases RELCO Locomotives

Wabtec Corp. has acquired RELCO Locomotives Inc., a player in the locomotive overhaul and maintenance industry. The acquisition expands Wabtec’s freight services capabilities and capacity to support growth in the remanufacturing and repair business.

January 8, 2020

PPG to buy Italian manufacturer ICR

PPG has agreed to acquire Industria Chimica Reggiana S.p.A., a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries. The strategic deal will complement PPG’s current product offering and add specialized, value-added products.

January 7, 2020

MSA develops a better integration formula

Until a decade ago, MSA Safety hadn’t been very successful with its acquisitions. But that changed when the safety equipment manufacturer started taking an intentional approach to integration that's spearheaded by the right deal quarterback.

January 2, 2020

A forecast of what to expect for 2020 Dealmaking in Pittsburgh

Smart Business Dealmakers spoke with Tecum Capital’s Stephen Gurgovits Jr., S&T Bank’s Brian Dobis and Innovation Works' Rich Lunak about what they anticipate for the 2020 dealmaking climate.

December 23, 2019

Pittsburgh 2019 Dealmaking Year In Review

With 2019 just about over, we’re taking a look back at some of what we learned this year.

December 17, 2019

Jessica Gibson on raising capital from inside a health-tech startup

Pittsburgh’s efforts to grow its regional health-tech and life science startup sector haven’t paid off as much or as quickly as city and business leaders would like. But Ariel Precision Medicine CEO and co-founder Jessica Gibson believes there’s still a path forward with more collaboration.

December 16, 2019

Gecko Robotics raises $40M Series B round, led by Drive Capital

Gecko Robotics, which develops and operates robots to automate infrastructure inspections, has raised a Series B funding round of $40 million, led by Columbus-based Drive Capital. The Pittsburgh startup and Y-Combinator alum plans to use the funds to support its quickly scaling business operations.

December 10, 2019

Buddy Flerl: Whether investing overseas or in the PE secondary market, people are the key

Buddy Flerl acts as an investor and limited partner in institutional funds in the secondary market, providing liquidity to PE firms. He also has experience investing overseas. In both scenarios, he says, it comes down to people.

December 6, 2019

Purchase of West Virginia’s Mountaineer Casino closes

Colorado Springs-based Century Casinos Inc. has completed the acquisition of the operations of New Cumberland, West Virginia’s Mountaineer Casino, Racetrack and Resort, as well as two Missouri casinos, from Eldorado Resorts Inc. for approximately $107 million.

December 5, 2019

GTE buys companies with a unique model: entrepreneurship through acquisition

Entrepreneurship through acquisition or search fund can be less risky than starting a company from scratch, and GT Entrepreneurs is one of a handful of firms that help experienced operators find successful businesses. VP of Operations Robert Septak shares how the firm works.

December 4, 2019

Duolingo raises $30M in Series F funding; now valued at $1.5B

Duolingo has reached a $1.5 billion valuation after closing a $30 million Series F funding round from CapitalG, Alphabet’s growth equity investment fund and an existing investor in the company. This brings Duolingo’s total venture funding to $138 million.

December 4, 2019

Covestro to buy Bayer’s Robinson campus

Covestro LLC has agreed to purchase the Bayer Corp.’s Robinson Township campus, which is home to Covestro’s U.S. headquarters. The change in ownership is planned for Dec. 31, 2020.

December 4, 2019

Aspirant buys HR Imagined

Aspirant, a Pittsburgh-based global management consulting and technology firm, has acquired HR Imagined, an outsourced HR solution organization in Pittsburgh. As part of the deal, HR Imagined President Cheryl Paxton-Hughes will join Aspirant.

November 27, 2019

Gary DeJidas on staying conservative in today’s market and an inside look at an ESOP

In Gary DeJidas' mind many acquisitions are overpriced today, which is why GAI Consultants buys cautiously in an uncertain economy. The chairman and CEO also gives his perspective on ESOPs after 27 years under that ownership structure.

November 21, 2019

Pitt Ohio spinoff Idelic iterates quickly, including during fundraising

Hayden Cardiff approaches raising capital the same way he approaches building a product — with a lean startup methodology of build, measure and learn. The Idelic CEO discusses the company's growth and how he's applying what he's learned.

November 13, 2019

Tom Lombardo: Invest in your exit strategy upfront

Prior to a sale, it’s critical to professionalize your company, whether that means planning, education or just a better understanding of its value. And as with any strategy, that may require an investment to bear fruit, says Adams Manufacturing President and CEO Tombardo.

November 7, 2019

Atkins Cos buys West Mifflin medical office building

Atkins Companies has acquired a 26,174-square-foot medical office building in West Mifflin. The outpatient facility is fully leased by Allegheny Health Network and bolsters the New Jersey firm's portfolio in the rapidly growing Pittsburgh metropolitan area.

November 5, 2019

Confluence’s Mark Evans builds trust to gain backing to take over a larger company

Mark Evans has found transparency to be his most powerful tool when working with private equity owners. That's how he was able to convince his new PE firm to help Confluence buy the larger, publicly traded StatPro.

November 1, 2019

GT Entrepreneurs closes deal for Service-Tech Corp.

Pittsburgh’s GT Entrepreneurs has closed its third deal, as Gabriel Chick, a GTE operator-in-residence, has completed the final paperwork to acquire Service-Tech Corp., a Cleveland-based HVAC and industrial cleaning company.

October 31, 2019

Thar Process’ Lalit Chordia: How to find the right investors or buyer

With growth comes the need for funding, says Lalit Chordia. The CEO of Thar Process, who sold two of his other companies in 2009 and 2016, shares his philosophies for raising capital and exiting a business.

October 28, 2019

Target Freight Management Buys NTS

Target Freight Management has acquired National Traffic Service Inc., a freight auditing and payment service. The strategic acquisition will better serve the end-to-end logistical needs of TFM’s less-than-truckload, full truckload and parcel freight customers throughout the U.S. and Canada.

October 22, 2019

Fifth Season expands its vertical farming, stays focused on capital efficiency

Vertical farming is capital intensive, which is why Fifth Season co-founder and CEO Austin Webb relies on his financial analyst and investment banking background to help manage the funding for the startup, which has raised over $35 million to date.

October 21, 2019

LyGenesis Closes $4M Convertible Debt Financing

LyGenesis Inc., a Pittsburgh biotechnology company focused on organ regeneration, has completed a $4 million in private financing of convertible notes from Juvenescence Ltd. and Longevity Vision Fund. This will enable LyGenesis’s lead program in liver regeneration to transition into clinical development.

October 18, 2019

Buddy Flerl on today’s hectic and fatiguing deal market

Veteran dealmaker Buddy Flerl talks about what he’s seeing in the market and his approach to dealmaking.

October 18, 2019

VoIP Innovations purchased by Sangoma

Ontario-headquartered Sangoma Technologies Corp. has acquired VoIP Innovations LLC for $42 million, if certain conditions are reached. The acquisition, Sangoma’s eighth in eight years, should provide the combined company with increased scale, more recurring revenue, a new product category, robust EBITDA margins, and a new sales channel within Sangoma’s broader portfolio.

October 16, 2019

Tecum Equity buys Pinnacle Cranes

Pinnacle Cranes, a Link-Belt and Manitex dealer in North Carolina and South Carolina, has been purchased by Western Allegheny Capital LLC, and Tecum Equity, a Pittsburgh-based family office investment partnership.

October 10, 2019

Tecum Capital’s Matt Harnett: Investors should work on the business, not in it

The PE firm’s founding partner shares his insights into how Tecum Capital manages the investments in makes in its more than 40 portfolio companies.

October 3, 2019

Evoqua to divest Memcor product line

Evoqua Water Technologies has agreed to divest its Memcor® membrane product line to DuPont Safety & Construction. The transaction, which includes the product line’s global workforce, its manufacturing site in Windsor, Australia, associated operations and intellectual property, is expected to close by the end of 2019. The sale allows Evoqua to focus on core products and solutions.

October 2, 2019

Angel Investing: The Power Of Group Intelligence

Former American Eagle President Don Morrison, who now mentors entrepreneurs as chairman of deal flow for BlueTree Allied Angels, talks about angel investing, scaling startups and what entrepreneurs should be looking for when it comes to investors.

October 1, 2019

U.S. Steel takes stake in Big River Steel

Under joint venture partnership agreement, United States Steel Corp. has taken first step toward acquiring Big River Steel, purchasing a 49.9 percent ownership interest for approximately $700 million in cash, with a call option to acquire the remaining interest within the next four years. Acquiring Big River, which operates the most advanced, state-of-the-art and sustainable mill in North America, will strengthen the Pittsburgh-headquartered company’s competitive positioning.

September 27, 2019

Pitfalls And Best Practices For A Successful Acquisition

S&T Bank's Brian Dobis shares his perspective on three pitfalls and best practices when acquiring companies.

September 24, 2019

Family Offices Are On The Rise in Pittsburgh

Ann Dugan, who founded and led the Institute for Entrepreneurial Excellence at the University of Pittsburgh for 30 years says more Pittsburgh-area families putting together a family office.

September 24, 2019

II-VI completes Finisar purchase

II‐VI Inc., a global provider of engineered materials and optoelectronic devices, has completed its acquisition of Finisar Corp. The acquisition was first announced Nov. 9, 2018. II-VI, which is headquartered in Saxonburg, expects to achieve $150 million in run rate synergies over the next three years.

September 20, 2019

Gregory Cessna On Why Due Diligence Drives Post-Deal Synergies

The CEO of Consumer Fresh Produce says the work that’s done before the deal paperwork is signed is often the most critical to long-term success.

September 19, 2019

As Gus Gear grows, Sarah Palya eyes taking on investors

Sarah Palya had limited business experience when she started Gus Gear. She’s had to learn as she goes, and now she feels her medical device startup is ready to jump to the next level, including possibly taking on investors.

September 18, 2019

Idelic raises $8M Series A round

Idelic, a Pittsburgh-based data and analytics startup, closed an $8 million Series A financing round, led by Chicago’s Origin Ventures with participation from TDF Ventures, Birchmere Ventures, Bain Capital Ventures and SaaS Venture Capital. Idelic will use the funds to grow its engineering and sales teams, and pave the way to release a mobile application.

September 16, 2019

Gordon Pointe to merge with Hall of Fame Village in $390M transaction

The merger is expected to produce a sports, entertainment and media enterprise surrounding the Pro Football Hall of Fame.

September 11, 2019

Mill 19 Opens As Manufacturing Innovation Hub

Mill 19 recently celebrated its grand opening as the new home to key leaders in Pittsburgh’s manufacturing industry, including Carnegie Mellon University’s Manufacturing Futures Initiative, the Advanced Robotics for Manufacturing Institute and Catalyst Connection.

September 11, 2019

How Chuck Mattera Transformed II-VI With Acquisitions

Since Chuck Mattera joined II-VI Inc. in 2004, the manufacturer has completed more than 20 acquisitions. And he’s embarking on the largest deal yet as he works to close the acquisition of Finisar Corp. — a similar-sized company with annual revenues of $1.3 billion.

September 10, 2019

Kraft Heinz venture fund invests in cheese startup

New Culture, the San Francisco startup making animal-free dairy cheese, closed $3.5 million in seed round funding. The round was led by Evolv Ventures, the $100 million venture fund backed by Kraft Heinz investing in emerging tech companies transforming the food industry.

September 9, 2019

NEP Group to buy Aerial Video Systems

NEP Group, a Pittsburgh-headquartered outsourced technical production partner supporting content producers of live sports and entertainment, has agreed to acquire Aerial Video Systems. The addition of AVS will complement and build upon NEP’s Broadcast Services, especially its wireless AV capabilities.

September 6, 2019

Dawn Fuchs Coleman On Selling The Family Business

Former Weavertown Environment Group CEO Dawn Fuchs Coleman talks about selling the family business and her journey from executive to coach and investor.

August 28, 2019

How Krystal Biotech went from founding to IPO in 18 months

CEO Krish Krishnan is an experienced biotech executive. But even he didn’t expect to go from self-funding Krystal Biotech to IPO in 18 months.

August 22, 2019

Compass Self Storage buys Pittsburgh location

Compass Self Storage, a member of the Amsdell family of companies, has acquired Shaler Self Storage in Allison Park. This transaction marks the Cleveland company’s fourth location in the Greater Pittsburgh area and its 90th location nationwide.

August 21, 2019

Pitt's Big Idea Center guides first-time entrepreneurs

Babs Carryer, director of Pitt's Big Idea Center talks about Pittsburgh’s startup ecosystem, raising capital and the Big Idea Center.

August 20, 2019

Bayer to sell Animal Health unit

Indiana-based Elanco Animal Health has agreed to buy Bayer AG’s animal health business in a cash and stock deal valued at $7.6 billion. The transaction creates the second largest maker of medicines for pets and livestock and falls in line with Bayer's strategy to slash debt.

August 20, 2019

PNC Mezzanine Capital recapitalizes Mountainside Fitness

PNC Mezzanine Capital recently completed a minority recapitalization of a $15 million preferred stock investment with Mountainside Fitness. PNC Mezzanine Capital and the Mountainside management team plan to continue to expand the company’s leadership position in the Arizona fitness community and beyond.

August 19, 2019

Grove City Medical Center to join AHN

Grove City Medical Center, Allegheny Health Network and Highmark Health have signed an affiliation agreement. Pending government approval of the merger, the organizations expect to close on the affiliation in the next few months, establishing Grove City as AHN’s ninth owned hospital.

August 16, 2019

Cinderella Story: How Michael Blair Built Deka Lash

When Michael Blair and his wife Jennifer founded Deka Lash in 2011, the reaction from Pittsburgh was raised eyebrows and roadblocks. Today, he has 60 franchise locations across the country.

August 7, 2019

CMU’s Farnam Jahanian on talent development and regional investment

Carnegie Mellon President Farnam Jahanian is a glass half full kind of guy. But that doesn’t mean he doesn’t see challenges ahead for those who want to leverage entrepreneurship and innovation to create wealth in the Pittsburgh region.

August 5, 2019

Coeo raises angel round

Warrendale, Pennsylvania-based Coeo, which brings people and spaces together, has raised $100,100 of angel funding in the form of SAFE notes from undisclosed investors. Additionally, the company raised $30,000 of angel funding from undisclosed investors on Feb. 22, 2019.

August 1, 2019

Family Offices: Education And Focus Are Critical To Success

As family offices take an increased interest in direct investing, focus and education are keys to success, says Ann Dugan of the Family Office Exchange.

July 29, 2019

Mylan and Pfizer's Upjohn division to combine

Mylan N.V. and Pfizer Inc. have agreed to combine Mylan with Upjohn, Pfizer’s off-patent branded and generic established medicines business, creating a new global pharmaceutical company. The strategic deal puts together Mylan’s pipeline and supply chain and Upjohn’s commercial and medical infrastructure and expertise, in order to serve more than 165 markets.

July 23, 2019

Mark DeSantis steers RoadBotics through rapid growth

RoadBotics CEO Mark DeSantis shares his experience building RoadBotics from the ground up, including rapid two-year growth since it got its first customers.

July 22, 2019

Westinghouse buys Canada’s NA Engineering Associates

The Canadian provider of engineering solutions has significant nuclear expertise, which will help diversify the Cranberry Township company’s engineering capabilities.

July 18, 2019

Look Good Brands buys Legends Boxing

The subsidiary of Canonsburg-based Deka Lash is attempting to bring together a range of beauty, health and fitness brands.

July 17, 2019

IPEG Industrial: Lessons from a strategic mid-market buyer

John Erkert has helped IPEG Industrial Group buy three industrial companies and sell another over the course of six years to build a global business in the plastics-processing, waste recycling and industrial heat-transfer markets.

July 16, 2019

RoadBotics raises $7.5M Series A round

The Pittsburgh-based company, which grew out of Carnegie Mellon University research into standardizing road assessment using artificial intelligence, has raised $11.4 million over five rounds.

July 11, 2019

Kennametal to close Westmoreland County facility with restructuring

Kennametal Inc. plans to close its manufacturing facility in Irwin, Pennsylvania, as well as two manufacturing facilities and a distribution center in Germany. The restructuring actions should facilitate a simplified and leaner structure, while further positioning the company for long-term profitable growth.

July 8, 2019

Get your house in order long before a sale

Gordon & Rees Scully Mansukhani partner Craig Heryford discusses what business owners need to do to have their company ready to sell — before an offer comes in the door.

July 2, 2019

Buying in a frenzied market

PNC Mezzanine Capital's Doug Brosius Brosius shares his insights into what is driving these high valuations and how they are impacting his approach to deals.

July 1, 2019

Machine Learning startup LifeWhere purchased by Resideo

The Austin, Texas-based company plans to use the startup to expand its remote monitoring and predictive maintenance capabilities.

June 27, 2019

Highmark to sell Visionworks to VSP

VSP Global has agreed to acquire San Antonio-based Visionworks, which is a majority-owned subsidiary of Highmark.

June 25, 2019

For Stonewood's Kenn Moritz, patience, flexibility drive success

The PE firm's president talks about the importance of staying flexible during dealmaking and why the fewer owners in a deal, the better.

June 20, 2019

Former Westinghouse Nuclear headquarters campus purchased

Next Tier Connect has acquired a 505,000 square-foot mixed-use campus in Monroeville, Pennsylvania, which served as the former Westinghouse Nuclear headquarters. The property is the first acquisition of a national portfolio that should include select real estate and mission critical properties.

June 20, 2019

UPMC Enterprises invests in its own disruption

Officially created five years ago to create health care innovations that improve the lives of patients in meaningful  ways, UPMC Enterprises encompasses the $130 million a year that UPMC lays out for corporate venture investments and R&D.

June 13, 2019

Liberty Steel Buys Johnstown Wire Technologies

The transaction expands Liberty’s footprint in the U.S. steel downstream products market and adds to its ability to meet the Made in America specifications required for public infrastructure and utility contracts.

June 13, 2019

Cellar Tech's Jim Rose: Selling is a painful process

The founder of the oil and gas industry business knew he needed help moving his company forward. But nothing prepared him for what's involved in selling a business.

June 13, 2019

Hyundai invests in Aurora as part of $600M+ Series B Round

Aurora’s existing partner Hyundai Motor Group has invested in Aurora as part of its Series B financing round. The self-driving technology startup now raised more than $700 million to develop Aurora Driver, strengthen its team and acquire cutting-edge technology.

June 11, 2019

Dale Buckwalter on buying and selling companies with high valuations

3 Rivers Capital co-founder Dale Buckwalter shares his thoughts on how to make returns in the current market of high valuations.

June 6, 2019

Industrial Scientific to buy Intelex for $570M

The acquisition of Intelex is the largest in the history of EHSQ pureplay vendors and one of the top five largest Canadian technology company exits in the last decade.

June 4, 2019

Federated’s Chris Donahue expects active investing to only grow stronger

After buying the smaller Hermes Investment Management, the Federated Investors CEO quickly moved to adopt Hermes' investment strategy of factoring in environment, social and governance criteria.

May 29, 2019

Medical device maker EPIC Extremity bought by Exactech

The deal continues the relationship between the designer of screw and plating systems for the foot and ankle and Exactech, which had been distributing EPIC's products for the last year.

May 28, 2019

How to set up the right capital structure for each acquisition

Andrew Wiechkoske has never had the unfortunate experience of having a deal fall apart at or near the finish line, even though he’s worked at PNC since 2008 and completed more than $1 billion

May 24, 2019

Aurora acquires lidar company Blackmore

The Pittsburgh-based startup picked up a company with valuable expertise in light detection and ranging radar, or lidar, that its self-driving car technology.

May 23, 2019

Pittsburgh deal activity hit new high in 2018

The 340 publicly announced deals in 2018 upends the previous record of 308 back in 2007, which was the first year the Allegheny Conference began tracking the 10-county region’s economic data.

May 21, 2019

Diamond Kinetics swings for the fences with sensor technology

CEO C.J. Handron talks about how he brought Diamond Kinetics from the lab to the ball diamond with the help of Pittsburgh’s early-stage community.

May 20, 2019

RE2 Robotics gets $3M from Office of Naval Research

RE2 Robotics, a developer of humanlike robotic manipulator arms in Pittsburgh, has received $3 million in funding from the Office of Naval Research to develop a dexterous, underwater robotic hand with tactile feedback.

May 16, 2019

Ed Wethli: Kiva Han-Crazy Mocha deal took time to brew

A year into the Crazy Mocha acquisition, the benefits of the deal are finally falling into place for the coffee roaster that wanted a growing retail empire.

May 14, 2019

Three Rivers Packaging purchased by The Cary Company

The McKees Rocks company, which initially focused on the sale of new and reconditioned steel drums, has evolved to become the area’s leading IBC re-bottler/reconditioner.

May 7, 2019

Yvonne Campos' Next Act Fund gives women seat at dealmaking table

Yvonne Campos is an accomplished businesswoman who built and sold a successful market research and strategy firm. In all her experiences, though, she was never asked to participate in a deal or invest

May 7, 2019

Federated Investors buying $14B in assets from PNC Financial Services

The proposed deal includes the reorganization of PNC’s family of liquidity, equity and fixed-income mutual funds into Federated funds; the acquisition of part of PNC’s separate account and separately managed account business; and the transition of a six-person international equity management team.

May 2, 2019

ANSYS acquires assets of Maryland software company DfR Solutions

ANSYS has acquired the assets of DfR Solutions, the Maryland developer of Sherlock, the industry’s only automated design reliability analysis software.

April 30, 2019

Life after selling your business will never be the same

Michael Krol, head of wealth advisory at Waldron Private Wealth, discusses post-sale changes that catch many business owners off guard.

April 24, 2019

Kraft Heinz reportedly seeking buyer for Ore-Ida

CNBC says that the food giant is looking to sell off its Ore-Ida brand as it works to pay down debt and restructure its business.

April 24, 2019

Maitri gets a partner, property in Innovative Industrial Properties deal

IIP agreed to provide the Southwestern PA medical marijuana company reimbursement of up to $10 million to complete tenant improvements for the building.

April 23, 2019

Honeycomb Credit expands crowd financing model beyond Pittsburgh

How CEO George Cook is blending crowd funding and community banking to change the way small businesses get loans.

April 17, 2019

Leon Rubinov on Incline Equity’s M&A strategy and value creation

Leon Rubinov doesn’t like to play favorites with Incline Equity Partners investments. “All our kids are cute,” the senior partner says. “We don’t love one any more than the other. They’re all special."

April 17, 2019

PPG completes Hemmelrath acquisition

PPG has completed its acquisition of German-based Hemmelrath, a manufacturer of coatings for automotive OEMs.

April 9, 2019

Corporates join VCs to fill pipeline for Pittsburgh tech investment

Pittsburgh’s tech startups attract the lion’s share of funding and attention, says Innovation Works’ Gary Glausser. We spoke with him about trends in tech investing, including highlights from Investment in Pittsburgh’s technology sector report, and the upcoming the AI & Robotics Venture Fair.

April 4, 2019

Kraft Heinz fund makes first investment

Evolv Ventures was part of a $25 million Series C round investment in GrubMarket, a farm-to-delivery food service.

April 3, 2019

FNB’s Boyd Pethel: How to invest with a flat yield curve, low interest rates

The economy may be slowing, but there’s good news for investors who are worried about rising interest rates, says First National Bank’s Boyd Pethel.

April 2, 2019

When selling a business, take talent development seriously

Sellers who pay lip service to talent development could be leaving millions of dollars on the table, says Solutions21’s Buddy Hobart. This week, Buddy explains why it’s past time for buyers and sellers to take talent development seriously.

March 29, 2019

How to value organizations in the wake of technology disruption

A look at the challenge of finding skilled workers for today’s highly automated environment, what investors should look for when evaluating companies and how involved investors should be in new technologies.

March 27, 2019

Quick Med Claims' Michael J. Lewis: A CEO's approach to M&A

In four years, the CEO of Quick Med Claims has gone through two sales and initiated five acquisitions. Now, he’s interested in passing along that knowledge.

March 22, 2019

BlueTree's big 2018: A unicorn, strong exits and new investors

It’s been an exciting and unprecedented year for Catherine Mott and BlueTree Capital, including her venture fund's first unicorn holding.

March 21, 2019

3-D startup Kaarta raises $6.5M

The developer of real-time mobile 3D reality capture raised the funds to accelerate the growth of its mobile mapping and localization technology.

March 21, 2019

2019 Dealmaker of the Year Awards

Recognizing the top deals and dealmakers in the Pittsburgh region.

March 14, 2019

Irwin Car’s Bill Baker: Find synergies in your acquisition strategy

After doing nearly 60 deals throughout his career, Bill Baker knows himself. He’s a niche strategist who looks to buy companies where one-and-one makes three.

March 14, 2019

Incline Equity’s Continental Batteries gets a boost, buys Battery Sales & Service

Continental Batteries, a battery distributor and a portfolio company of Pittsburgh private equity firm Incline Equity Partners, is acquiring Battery Sales & Service in its sixth acquisition in just over seven months.

March 14, 2019

Ampco-Pittsburgh plans to sell ASW Steel

Ampco-Pittsburgh Corp. is set to sell its Canadian subsidiary, ASW Steel Inc. ASW, a specialty steel-making facility located in Welland, Ontario, has been classified as a discontinued operation

March 13, 2019

Highmark, Geisinger complete $100M clinical joint venture

Health care companies Highmark Inc. and Geisinger have completed their previously announced clinical joint venture, which will invest more than $100 million to expand health care services and improve access to healthcare in four north-central Pennsylvania counties.

March 13, 2019

PNC to sell part of its record-keeping business to Newport Group

The transaction will enable PNC to focus on providing fiduciary investment advice to retirement clients — one of its core businesses — while helping Newport expand through the complementary acquisition.

March 11, 2019

NeuBase Therapeutics gets $9M in financing

NeuBase Therapeutics Inc., a Pittsburgh biotechnology company developing antisense therapies to address rare genetic diseases, has landed $9 million in financing ahead of the company’s proposed merger with Ohr Pharmaceutical Inc.

March 11, 2019

Army gives Carnegie Mellon $72M to fund AI defense research

Carnegie Mellon University, specifically its Combat Capabilities Development Command Army Research Laboratory, is being awarded $72 million from the U.S. Army over five years for fundamental (publishable) artificial intelligence research.

March 7, 2019

IAM Robotics’ Joel Reed: Finding capital and talent in a competitive robotics industry

The robotics industry remains in flux, especially as methods for fulfilling consumer orders continue to evolve. But Pittsburgh — and companies like IAM Robotics — is at the center of it all.

March 5, 2019

WESCO closes Sylvania Lighting purchase

WESCO Services, LLC, a subsidiary of Wesco International, has acquired certain assets of Sylvania Lighting Solutions from OSRAM Sylvania, including its business operations in the United States and Canada.

February 28, 2019

Integrating acquisitions isn’t one size fits all for L.B. Foster

CEO Bob Bauer breaks down L.B. Foster's unique integration approach to three different acquisitions.

February 28, 2019

Adrich gets seed funding from Sony

Sony Innovation Fund invests in maker of labels that track consumer behavior.

February 27, 2019

RDX acquires ClearDB in second February deal for cloud services firm

Managed database and cloud services provider RDX has acquired ClearDB as part of an aggressive strategic expansion of the RDX service portfolio.

February 25, 2019

Maitri Medicinals raises nearly $7M from angel investors

The medical marijuana company reportedly will use the funds to establish additional dispensaries, an indoor growing facility and the relocate its headquarters.

February 6, 2019

The rise of corporate venture funding

Pittsburgh’s old industrial companies are paying attention to startups and Idea Foundry CEO Mike Matesic thinks the surge in corporate venture funding bodes well for local M&A activity. We spoke with Matesic about how corporations and startups are working together to grow Pittsburgh’s economy.

January 9, 2019

August Carlino on negotiating, risk and preserving a legacy

August Carlino talks about what gets his blood pumping, the Rivers of Steel's acquisition of RiverQuest and his advice for other dealmakers.

December 19, 2018

Best practices to follow and pitfalls to avoid with your next acquisition

So, you think you know what it takes to buy a business? With the range of available financing options and a red-hot M&A market, there’s a lot to consider. Finance-minded experts and entrepreneurs share their experiences at ASPIRE 2018.

December 7, 2018

Tecum Capital’s Stephen Gurgovits Jr.

Tecum Capital Managing Director Stephen Gurgovits Jr. talks about Tecum's evolution as an investment firm, it's appetite for risk and one of his most memorable deals.

November 20, 2018

Liquidity events aren’t just about money

After Arnie Burchianti sold a majority stake in Celtic Healthcare to Graham, he used the capital to supercharge his business. It grew from $30 million to more than $200 million in five years.

November 9, 2018

Choosing a strategic buyer pays off for Walsh Equipment family

It was bittersweet for Charles Walsh to no longer see his family’s name on their construction equipment dealership. But by all accounts, the sale to Stephenson Equipment Inc. in 2017 has been a success.

October 25, 2018

A look into the wild world of raising capital

Three dealmakers with different experiences raising capital came together in a panel discussion at ASPIRE 2018 to discuss the ins and outs of funding.

October 12, 2018

Advanced Robotics in Manufacturing Institute’s Suzy Teele

Entrepreneur Suzy Teele has helped at least 50 companies grow into market leaders, either as a consultant, adviser or executive. In this Q&A, she talks about how entrepreneurs can build relationships to create partnerships or find investors to grow their companies.

September 27, 2018

Managing the six stages of the sale process

Ideally, there are six stages to selling a business. When a deal isn’t successful, one of those stages was likely derailed. Four experts take a look at those six stages, including their advice on best practices and avoiding pitfalls.

August 28, 2018

The whys and hows of buying a business

When growing through acquisition, it’s imperative that the acquisition is the right company at the right price with the right integration strategy. That way you can make sure the company strengthens your existing business and accelerates your business goals.

August 10, 2018

Metz Lewis’ Chris Brodman

Metz Lewis partner Chris Brodman talks about deal-killing issues and the principles of successful dealmakers.

July 25, 2018

Two approaches to ownership change

Howard W. “Hoddy” Hanna III, chairman of Hanna Holdings Inc., has experienced ownership transfer amongst his family, and Audrey Dunning, senior vice president at CGI, facilitated the sale of the company she led. They share their perspectives on the process.

June 25, 2018

A look at the Pittsburgh environment for raising capital

Four of Pittsburgh’s prominent business leaders share their experiences on the front lines of M&A in an environment of rising valuations. The higher prices are being driven in part by private equity-backed portfolio companies that buy strategically and do add-ons to other deals, as well as family offices with money to spend and a will to do direct acquisitions.

May 24, 2018

A dive into today’s aggressive deal market

Four of Pittsburgh’s prominent business leaders share their experiences on the front lines of M&A in an environment of rising valuations.

April 27, 2018

Forward progress: The State of Technology in Pittsburgh

From material science, life science and data centers to energy technology and research on artificial intelligence and social ventures, Pittsburgh is on the cutting edge of technology in many sectors.