Columbus - Smart Business Dealmakers
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November 14, 2019
GateHouse, Gannett merger approved
Shareholders, in separate votes, approved the plan for GateHouse Media parent New Media Investment Group Inc. to buy Gannett Co Inc. in a $1.2 billion stock and cash deal. The two companies own 19 Ohio newspapers, including the Columbus Dispatch, the Akron Beacon Journal and the Canton Repository....
By Jayne Gest
November 12, 2019
Longaberger intellectual property sold
Xcel Brands Inc. and Chicago-based Hilco Global have acquired the intellectual property of Longaberger. Xcel Brands, a media and consumer products company, will manage the American heritage home and collectibles brand out of its New York City headquarters going forward....
By Jayne Gest
November 12, 2019
Aon’s Vipul Patel explains the role of reps and warranties insurance
The use of reps and warranty insurance is on the rise, as it helps sellers walk away after a deal closes and gives buyers risk protection. Aon's Vipul Patel goes over the nuts and bolts of this M&A tool....
By Jayne Gest
November 12, 2019
Ohio Innovation Fund invests in Windpact
Ohio Innovation Fund, a Columbus venture capital firm, has invested in Windpact. The impact safety technology company is founded and led by Shawn Springs, a 13-year NFL veteran who played collegiately at The Ohio State University....
By Jayne Gest
November 12, 2019
Loop raises $10M Series A round
Loop, the Columbus e-commerce SaaS platform, has closed a $10 million Series A funding round. The funding will allow Loop to strengthen its proprietary technology, which focuses on automating a customer’s return service, and help the company further expand....
By Jayne Gest
November 11, 2019
Citrin raises $1M in angel funding
Citrin Holdings LLC, a Columbus provider of valet, porter and employee management services, has raised $1 million of angel funding from undisclosed investors, according to PitchBook....
By Jayne Gest
November 7, 2019
Robots, automation and AI, oh my!
Last month, participants in Columbus VC firm Drive Capital’s second robotics and automation summit — Devol’s Dance — spent the day exploring the future. While automation is critical to many of Drive Capital’s portfolio companies, two researchers shared how robots, overall, are changing the way we think and how we do our jobs....
By Jayne Gest
November 5, 2019
Esports company eFuse raises $1.4M seed round
eFuse, a web and mobile application that serves as the professional hub for esports and video games, has raised a $1.4 million seed round in preparation for the platform’s launch on Dec. 10, 2019....
By Jayne Gest
November 5, 2019
Drive Capital closes $350M fund
Drive Capital has successfully raised $350 million for its third flagship venture capital fund, according to SEC paperwork. The Columbus VC firm remains in the midst of raising its first opportunity fund....
By Jayne Gest
November 5, 2019
Worthington Industries Engineered Cabs sold
Angeles Equity Partners LLC, a Los Angeles private investment firm, has acquired Worthington Industries Engineered Cabs from Worthington Industries and Crenlo Cab Products LLC, with its Emcor and Siac do Brasil affiliates, from KPS Capital Partners LP....
By Jayne Gest
November 5, 2019
Germain Automotive purchases five dealerships
Germain Automotive, owned by Rick Germain, Paul Germain and John Germain, has acquired five Sonic Automotive dealerships located in the Georgesville Auto Mall at I-270 and Georgesville Road....
By Jayne Gest
November 4, 2019
Lancaster Pollard, Red Capital parent ORIX expands
ORIX USA has agreed to acquire the commercial real estate lender Hunt Real Estate Capital LLC. The acquisition combines the financial strength of ORIX USA and the complementary product offerings of ORIX Real Estate Capital brands — Columbus-headquartered Lancaster Pollard and Red Capital Group — with Hunt Real Estate Capital’s focus on multifamily investors....
By Jayne Gest
November 4, 2019
UTI sells company to ESOP trust
Utility Technologies International Corp., a service provider to the natural gas pipeline industry, has sold 100 percent of the company to an employee stock ownership plan trust. The selling shareholders saw an ESOP as a way to not only capitalize on their investment but ensure the cultural legacy of the company....
By Jayne Gest
November 1, 2019
Big Lots sells California distribution center
Big Lots Inc. completed the sale of its distribution center in Rancho Cucamonga, California, for $191 million. The facility was sold as a result of the company’s move to a new distribution center in Apple Valley, California....
By Jayne Gest
November 1, 2019
It took some hard lessons for Bob Grote to learn the best way to acquire companies
Bob Grote has been CEO of Grote Co. for more than a decade, but even after five acquisitions, he has to guard against deal fever. Grote discusses deal challenges and lessons learned....
By Jayne Gest
October 30, 2019
Vindex launches Esports Engine in Columbus
Columbus-based Esports Engine has launched under the umbrella of New York-headquartered Vindex, which obtained a $60 million Series A funding round from investors in the hedge fund and private equity world to scale its esports infrastructure platform....
By Jayne Gest
October 30, 2019
TRANSInternational System purchased
IMC Companies, an intermodal logistics business, has acquired Worthington-headquartered TRANSInternational System. The acquisition enhances the Memphis, Tennessee-based company’s existing national footprint....
By Jayne Gest
October 29, 2019
Apeks Supercritical sold to Rough Brothers
Apeks Supercritical, a Johnstown-based CO2 extraction manufacturer, has been acquired by Rough Brothers Inc., a Cincinnati greenhouse design and manufacturing company. The move allows Apeks to join forces with RBI and other companies to create a full-service solution in cannabis cultivation and processing....
By Jayne Gest
October 29, 2019
Safelite Group buys Quick’s Glass Service assets
Safelite Group, the Columbus-headquartered vehicle glass services and recalibration company and owner of Safelite AutoGlass, has acquired the assets of Quick’s Glass Service. The transaction will extend its footprint in the northern Central Valley of California....
By Jayne Gest
October 28, 2019
Walter | Haverfield buys Cleveland, Columbus law firms
Cleveland-based law firm Walter | Haverfield has acquired Hurtuk & Daroff Co., LLP, a Cleveland real estate and finance law firm with a nationwide practice and wide-ranging client base. Separately, Walter | Haverfield purchased Nardone Limited, a tax planning and business services law firm headquartered in Columbus....
By Jayne Gest
October 28, 2019
CFBank parent announces $25M capital raise
Central Federal Corp., the parent of CFBank, has agreed to issue up to $25 million in common and convertible preferred stock in a private placement to institutional and other accredited investors. The company intends to use the proceeds to fund organic growth of Worthington-headquartered CFBank, to support CFBank’s capital ratios and for general corporate purposes....
By Jayne Gest
October 25, 2019
Columbus Fair Auto Auction purchased
The XLerate Group has acquired Columbus Fair Auto Auction, which joins XLerate’s group of auctions. This transaction bolsters the Indianapolis-based company’s presence in the critical Midwestern market and its capabilities to service large fleet/lease and financial institution customers....
By Jayne Gest
October 22, 2019
The preparation with Myonexus pays off for Michael Triplett
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....
By Jayne Gest
October 21, 2019
Nationwide invests in Upstream Security
Upstream Security, an 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....
By Jayne Gest
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....
By Jayne Gest
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....
By Jayne Gest
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....
By Tom Walker
October 11, 2019
FMX gets strategic investment from Five Elms
Facilities Management eXpress, a facilities and maintenance management software platform, has received an undisclosed strategic investment from Five Elms Capital. The partnership with Five Elms will fuel the continued expansion of FMX....
By Jayne Gest
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....
By Jayne Gest
October 8, 2019
Knowble Media purchased by SimpsonScarborough
SimpsonScarborough has acquired Knowble Media, a Columbus digital media agency that specializes in website design and video production for higher education. The strategic acquisition expands the Washington D.C. company’s list of services to include digital offerings in addition to research, strategy and creative....
By Jayne Gest
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....
By Jayne Gest
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....
By Jayne Gest
October 8, 2019
Scotts Miracle-Gro prices senior notes
The Scotts Miracle-Gro Co. has priced an offering of $450 million for 4.5 percent senior notes due 2029. The company intends to use the net proceeds to redeem all of its outstanding 6 percent senior notes due 2023 and for general corporate purposes....
By Jayne Gest
October 7, 2019
Dawson & Associates sold to Cincinnati firm
Dawson & Associates LLC, a workers’ compensation boutique firm, has been acquired by Dinsmore & Shohl LLP. The move doubles Dinsmore’s workers’ compensation group in the Columbus area. Dinsmore now has 79 total attorneys in Columbus, and the firm is already the seventh-largest in the city....
By Jayne Gest
October 7, 2019
Stonehenge Partners sells MedVet stake
Stonehenge Partners sold a stake in MedVet Associates LLC to an undisclosed buyer, according to PitchBook. MedVet also received $56 million in financing at the end of September and has raised $276.64 million through corporate and PE growth/expansion deals since 2015....
By Jayne Gest
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....
By Mark Scott
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....
By Jayne Gest
October 3, 2019
Crawford Hoying buys downtown Dayton building
Dublin developer Crawford Hoying has purchased the Mendelson building on East First Street in downtown Dayton. Previously home to Mendelsons Liquidation Outlet, the more than 550,000 square foot, eight-story building will be the newest addition to the Water Street District....
By Jayne Gest
October 1, 2019
Licking County golf course sold
Compound Enterprises LLC, owned by family members Pat and Beth Kelly, along with Rob and Colleen (Kelly) Smith, finalized the sale of Forest Hills Golf Course in Heath. The families plan to invest in upgrades for the business, which had been owned by the Clifford Thornely family for 39 years....
By Jayne Gest
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...
By Jayne Gest
September 26, 2019
Radius sold to Texas technology company
TRUNO, a national provider of integrated retail technology solutions, intends to buy Columbus-headquartered Radius Solutions, in a strategic acquisition that comes as a part of the technology partner’s continuing expansion across the country....
By Jayne Gest
September 26, 2019
Installed Building Products closes note offering
Installed Building Products Inc., an installer of insulation and complementary building products, closed a private offering of $300 million in 5.75 percent senior unsecured notes due Feb. 1, 2028. In addition, the company entered into a new and increased $200 million asset-based lending revolving credit facility....
By Jayne Gest
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....
By Jayne Gest
September 24, 2019
Vail Resorts closes deal for 17 US ski areas
Vail Resorts Inc. has closed its acquisition of Peak Resorts Inc. for $11 per share, which it announced in July. Vail Resorts has added 17 U.S. ski areas — including 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 — bringing its total number of owned and operated resorts to 37 worldwide....
By Jayne Gest
September 23, 2019
Installed Building Products buys Northeast, MSI
Installed Building Products Inc., an installer of insulation and complementary building products, has acquired Northeast Spray Insulation Inc. and Minnesota Spray-Foam Insulation. With combined trailing 12-month revenue of $5.2 million, the acquisitions of Northeast and MSI should enhance IBP’s presence in two compelling housing markets....
By Jayne Gest
September 23, 2019
Ohio Transmission Corp buys Tennessee compressed air company
Ohio Transmission Corporation, an industrial equipment service provider and distributor headquartered in Columbus, has acquired Tennessee-based IDG Compressor. The transaction will help expand the company’s Air Technologies® reach into southern markets....
By Jayne Gest
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....
By Jayne Gest
September 20, 2019
Gallagher buys Andrew Insurance
Arthur J. Gallagher & Co. has acquired Powell, Ohio-based Andrew Insurance Associates Inc. The deal helps Gallagher further build its presence in the Columbus area and brings the company additional strengths in practice areas that it is looking to grow and expand....
By Jayne Gest
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....
By Jayne Gest
September 18, 2019
ADS prices $350M in senior notes
Advanced Drainage Systems Inc., a global manufacturer of water management products and solutions for commercial, residential, infrastructure and agricultural applications, priced a private offering of $350 million in 5 percent senior unsecured notes due 2027....
By Jayne Gest
