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May 29, 2020
Summa Health, Beaumont Health End Partnership Plans
The two organizations had been working over the last year to create a partnership, signed a definitive agreement in December 2019 and later received all necessary state and federal regulatory approvals....
By SBN Staff
May 27, 2020
GE Lighting To Be Sold To Mass.-based Savant Systems
GE Lighting expects to remain headquartered in Cleveland and its more than 700 employees are expected to transfer to Savant upon completion of the transaction....
By SBN Staff
May 26, 2020
Cresco Labs Reaches Deal To Acquire Four Ohio Cannabis Dispensaries
Completion of the transaction is subject to approval by the Ohio Board of Pharmacy. Upon closing, Cresco would have a total of five dispensaries in Ohio – the maximum allowed by the state....
By SBN Staff
May 26, 2020
Splash Financial Closes $12.3M Series A Round
The capital raised is expected to help the company continue to expand its national brand, onboard additional lending partners and continue to focus on helping people save the most money on their student loans....
By SBN Staff
May 26, 2020
Riverside Agrees To Sell ActivStyle To AdaptHealth
During Riverside’s hold, ActivStyle became a leading direct-to-consumer supplier of incontinence and urological supplies with a culture based on integrity, teamwork and best-in-class patient service, growing the business to serve more than 65,000 patients across 48 states....
By SBN Staff
May 21, 2020
Buyers are eager, sellers hesitate says Vincent J. Garozzo
Vincent J. Garozzo, of Greensfelder, Hemker & Gale P.C., talks deal flow, the seller mindset and the position of capital institutions....
By Adam Burroughs
May 21, 2020
Oswald’s Bob Klonk: Supply Chain Risk Will Be A Critical Negotiating Point For Post-Pandemic Dealmaking
Health experts have stressed repeatedly that a COVID-19 vaccine is most likely at least a year away, a reality that will be on the minds of dealmakers at every turn, says Oswald Cos. CEO Chairman and CEO Robert J. Klonk....
By Dustin S. Klein & Mark Scott
May 21, 2020
UBS’ Jerry Johnson sees deals and capital flowing, although with some renegotiation
UBS Managing Director and Market Head Jerry Johnson shares his view of the market and what's happening with capital flow in the M&A space....
By Adam Burroughs
May 21, 2020
Jay Katarincic shares the methods behind early stage VC investing
With early stage investing, it’s not about hitting every single time in order to have a successful fund, says Jay Katarincic, managing director of venture capital firm Draper Triangle. That's because it's often more art than science....
By Jayne Gest
May 21, 2020
Michael Feuer: Ready, Set, Stop!
The best-laid plans for deals, business and life often take a wrong turn, says Michael Feuer....
By Michael Feuer
May 20, 2020
Babst Calland’s Chris Farmakis: The deal picture should be clearer by summer
While deals are still getting done, many have been pushed backed. However, we likely won't know until summer whether those delayed transactions come back to life, says Babst Calland's Chris Farmakis....
By Dustin S. Klein and Jayne Gest
May 19, 2020
Infectious Disease Connect merges with Merck company
Infectious Disease Connect Inc., a UPMC Enterprises telemedicine-enabled company, has combined with Merck’s ILÚM Health Solutions. UPMC will retain a majority stake in the combined company....
By Jayne Gest
May 19, 2020
UBS Market Head Ted Durkin on capital flow, investments, vs. coronavirus
Ted Durkin, managing director and Pennsylvania market head for UBS talks about how the flow of capital has been affected by the pandemic, as well as some of the ways that investors have tried to preserve their portfolios....
By Adam Burroughs
May 18, 2020
Axuall, UH Collaborate To Streamline Clinical Workforce Deployment
Axuall and University Hospitals’ Ventures group began to work together in 2019 to identify opportunities to leverage blockchain and digital identity to fundamentally improve the way the health system attracts, verifies, and deploys clinical talent....
By SBN Staff
May 18, 2020
Team Scotti sold to NFP
NFP has acquired LFG Inc., DBA Team Scotti. The Pittsburgh-based company is a national insurance broker offering insurance solutions and employee benefit programs to Major League Baseball and Minor League Baseball and their affiliates....
By Jayne Gest
May 18, 2020
MAI Capital Buys NY-Based Grisanti Capital Management
The all-equity transaction is expected to build on MAI’s recent expansion to New York City and adds an experienced team of investment professionals to MAI’s ranks. The GCM acquisition closed on May 15, and is expected to increase MAI’s assets under management by over $225 million....
By SBN Staff
May 15, 2020
iPipeline’s CEO Larry Berran sees M&A opportunity, but also caution
iPipeline CEO Larry Berran offers his take on M&A in a market covered by a fog of uncertainty and how being a portfolio company has affected his company's approach to dealmaking....
By Adam Burroughs
May 15, 2020
UNFI’s Retail Accounting Services Division sold
FMS Solutions Inc. has agreed to acquire United Natural Foods Inc.’s Retail Accounting Services Division, where retail accounting teams in Pittsburgh, St. Louis, Anniston, Alabama, Champaign, Illinois, and Hopkins, Minnesota, will become FMS subsidiaries....
By Jayne Gest
May 15, 2020
Ice Miller’s Michael Jordan and Rob Ouellette: M&A and business in a turbulent market
Are deals dead? Ice Miller Partner Rob Ouellette says “no,” but they have taken on a different look. Ouellette and Ice Miller Managing Partner Michael Jordan share their thoughts on M&A and other issues C-suite executives are dealing with during the COVID-19 crisis....
By Dustin S. Klein and Jayne Gest
May 15, 2020
Prairie Capital’s Ken Serwinski: Dealmakers Continue To Operate With An Abundance Of Caution
Buyer’s market, or seller’s market? In this time of global pandemic, how about neither, says Prairie Capital Advisors Co-founder and Chairman Ken Serwinski....
By Dustin S. Klein & Mark Scott
May 15, 2020
Plante Moran Corporate Finance’s Joe Wagner: Dealmaking Community Continues To React, Respond To COVID-19
Dealmaking has been slowed by the COVID-19 pandemic, but activity hasn’t stopped, says Joe Wagner, managing director and partner at Plante Moran Corporate Finance....
By Dustin S. Klein & Mark Scott
May 14, 2020
Net Health buys Tissue Analytics
Net Health, a Pittsburgh-based provider of cloud-based electronic health record software for specialized care settings, has acquired Tissue Analytics. The transaction is expected to expand Net Health’s leadership position within the wound care market....
By Jayne Gest
May 13, 2020
Deal Pulse: April M&A Activity in Central Ohio
The state of Ohio was under a stay-at-home order for the entire month of April, with many businesses shut down. While middle market M&A activity has severely slowed in Central Ohio, notable deals included Break Trail Ventures, Nationwide Ventures and Midwest Equipment Sales....
By Michael Shaw
May 13, 2020
CrossCountry Mortgage Buys NJ-Based First Choice Loan Services
The deal is expected to enhance CrossCountry's strategic growth in several regions, as well as its consumer-direct component, says CEO Ron Leonhardt....
By SBN Staff
May 11, 2020
PNC intends to sell BlackRock investment
The PNC Financial Services Group Inc. plans to sell its investment in BlackRock Inc. through a registered offering and related buyback by BlackRock. PNC currently holds shares that represent 22.4 percent ownership....
By Jayne Gest
May 11, 2020
Edge Case Research Raises VC Funding
Edge Case Research Inc. recently raised $8 million in venture funding from undisclosed investors, PitchBook reports. The Pittsburgh company is developing vehicle safety systems intended to make autonomous vehicles safe....
By Jayne Gest
May 8, 2020
Conco sold to Rising Point Capital
Chicago-based Rising Point Capital has acquired Conco Holdings, which is located in the Pittsburgh area. Tecum Capital Partners and UMB Capital Corp. provided subordinated debt and equity. The investor group also partnered with the Saxon-Godish Family and existing management team, who will remain with Conco and retain a significant stake....
By Jayne Gest
May 7, 2020
Tucker Ellis’s Brian M. O’Neill: The Future Of Dealmaking Post-Pandemic Will Need Time To Take Shape
As Ohio seeks to reopen its economy in the coming weeks, a significant number of businesses will face a daunting challenge to simply reopen their doors to customers, says Brian M. O’Neill, a partner at Tucker Ellis....
By Dustin S. Klein & Mark Scott
May 7, 2020
Mark A. Filippell: What Sellers Can Do When M&A Market Shuts Down
With all due respect to Admiral Farragut, his “Damn the torpedoes; full speed ahead” strategy will almost certainly fail in today’s COVID-19 M&A environment, says Mark Filippell....
By Mark A. Filippell
May 7, 2020
Everstream Reaches Strategic Agreement With Uniti Fiber In Milwaukee
In November 2019, Everstream first entered the Milwaukee market and is actively building its network, which will encompass more than 560 route miles of fiber when complete....
By Mark Scott
May 6, 2020
Voci Technologies sale complete
San Francisco-based Medallia Inc. has completed the acquisition of the speech-to-text platform, Voci Technologies....
By Jayne Gest
May 6, 2020
Evergreen Podcasts Secures $500K Investment
The $500,000 investment will help fund the working capital position of Evergreen and support the company's podcast industry expansion. As of 2020, the company has 34 podcast programs that have been downloaded in over 180 countries....
By Mark Scott
May 5, 2020
Finite States raises a $12.5M Series A round
Finite State has raised $12.5 million in a Series A funding round, in order to scale its engineering team. The round was led by Energy Impact Partners, along with Zetta Venture Partners, cybersecurity veteran Niloofar Howe and other undisclosed investors....
By Jayne Gest
May 5, 2020
HR Gray sold to Anser Advisory
Orlando-headquartered Anser Advisory has acquired H.R. Gray, a 76 employee owner’s representative, construction management and dispute resolution firm based in Columbus....
By Jayne Gest
May 5, 2020
University Corners Retail Center Bought By Konover South In $3M Deal
A loan in the amount of $2.3 million was provided by KS Lending Corp., a Konover South company, and the center was acquired through Ten-X Commercial....
By Mark Scott
May 4, 2020
L Brands to spin out Victoria’s Secret after deal terminates
L Brands Inc. has agreed to allow Sycamore Partners to terminate its deal to buy Victoria’s Secret. The company plans to establish Bath & Body Works as a pure-play public company and prepare the Victoria’s Secret Lingerie, Victoria’s Secret Beauty and PINK businesses to operate as a separate, standalone company....
By Jayne Gest
May 4, 2020
Brown & Brown Completes Deal To Buy Solon-Based Loan Protector Insurance
The Loan Protector operations will join with Daytona Beach, Florida-based Brown & Brown’s subsidiary, Proctor Financial, to operate as Proctor Loan Protector....
By Mark Scott
May 4, 2020
Shell to sell Appalachia assets to National Fuel
A Royal Dutch Shell plc subsidiary has agreed to sell its Appalachia shale gas position for $541 million to National Fuel Gas Co. The transaction includes approximately 450,000 net leasehold acres across Pennsylvania, with approximately 350 producing Marcellus and Utica wells in Tioga County and associated facilities....
By Jayne Gest
May 1, 2020
ESS NexTier merges into IMA Financial Group
IMA Financial Group, a Denver-headquartered national insurance brokerage firm, completed its acquisition of ESS NexTier Insurance Group, a similarly structured practice with four offices throughout Pennsylvania....
By Jayne Gest
April 30, 2020
U.S. Steel sells option in Minnesota iron ore mine
Stelco has entered an option agreement with U.S. Steel, granting Stelco a long-dated option to purchase a 25 percent ownership interest in a to-be-formed joint venture that will own 100 percent of U.S. Steel’s iron ore mine in Mt. Iron, Minnesota, and related infrastructure including the pellet plant....
By Jayne Gest
April 29, 2020
Niche raises $35M in Series C funds
Niche — a Pittsburgh-based school search platform connecting people to the right K-12 school or college — has raised $35 million in Series C funding led by Radian Capital, with additional participation from Salesforce Ventures, as well as existing investors Allen & Company LLC and Tim Armstrong....
By Jayne Gest
April 28, 2020
Riverside Co. Invests In Basic Fire & Safety
Based in Portland, Oregon, PSI is a provider of fire and life safety services in the Pacific Northwest. The company provides customers with fire and life safety services including system inspection, service and monitoring, equipment sales and cylinder repairs, as well as installations for new construction and retrofits....
By Mark Scott
April 27, 2020
MWE Sales recapitalizes with funding from Provariant, Tecum
Midwest Equipment Sales has taken on investment partners in order to grow the Columbus-headquartered business. The funding was led by Provariant Equity Partners, with investment from Tecum Capital Partners, the existing CEO and Centerfield Capital Partners....
By Jayne Gest
April 27, 2020
Seamless.AI raises $2.4M in funding
Seamless.AI, a Worthington-based provider of sales automation software, has raised $2.4 million of venture funding....
By Jayne Gest
April 27, 2020
Intervala buys Princeton Technology
Intervala LLC has acquired Princeton Technology Corp. in Hudson, New Hampshire. The acquisition further expands Intervala’s manufacturing presence in the Northeast region, while adding new capabilities and customers....
By Jayne Gest
April 24, 2020
Smart Business Dealmakers Podcast Debuts
The Smart Business Dealmakers podcast, which will post updated episodes periodically during the week, features interviews with entrepreneurs, investors and advisers from across the markets we serve....
By Michael Marzec
April 24, 2020
Leery investors = More Scrutiny
Podcast: CLA partner Bo Butters sees increased scrutiny on deals in the wake of the coronavirus, but he also expects there will be operators who are unwilling to untangle their businesses from the mess caused by the pandemic, creating opportunities for buyers....
By Adam Burroughs
April 24, 2020
Jake Loosararian bets on himself — and Gecko Robotics
Jake Loosararian turned down an offer for Gecko Robotics in 2015 and stuck with the principles of why he started the company. He shares how that decision has paid off....
By Jayne Gest
April 24, 2020
Burr & Forman's Tucker Herndon: Stay Calm
While there is plenty of reason for concern in the M&A space right now, C. Tucker Herndon has some firm advice for business owners....
By Adam Burroughs
April 24, 2020
Metz Lewis’ John Lewis: Caution is the new normal
John Lewis expects employers to remain cautious in terms of deal activity, long-term commitments and employee compensation during this unprecedented time....
By Dustin S. Klein and Jayne Gest
