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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