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June 26, 2020

CMU’s Lynn Banaszak: Priorities are shifting, but innovation interest remains strong

Despite the uncertainty, investors are still very interested in preserving their deal pipelines — continuing to build on the promise of the portfolio of ideas already in development, says Lynn Banaszak, executive director of the Digital Transformation and Innovation Center at Carnegie Mellon University....

By Jayne Gest

June 23, 2020

GNC to restructure or be sold

GNC Holdings Inc., and certain of its North American entities, secured lenders and key stakeholders have agreed to pursue a dual-path process that will allow the company to restructure its balance sheet and accelerate its business strategy through Chapter 11 of the U.S. Bankruptcy Code. The company could be restructured or sold....

By Jayne Gest

June 22, 2020

WESCO completes Anixter merger

WESCO International Inc., a Pittsburgh-headquartered provider of business-to-business distribution, logistics services and supply chain solutions, has completed its merger with Anixter International Inc., creating a global B2B distribution and supply chain solutions company....

By Jayne Gest

June 17, 2020

Equitrans Midstream, EQM complete merger

Equitrans Midstream Corp. and EQM Midstream Partners LP have completed the acquisition of all of the outstanding common units representing limited partner interests in EQM that it did not already own....

By Jayne Gest

June 15, 2020

The Pittsburgh Steelers have new minority owners

The owners of the Philadelphia 76ers and New Jersey Devils, Josh Harris and David Blitzer, have reportedly acquired small stake of less than 5 percent in the Pittsburgh Steelers, according to Bloomberg News....

By Jayne Gest

June 12, 2020

Peca Labs raises venture funding

Peca Labs Inc. recently raised $587,465 of venture funding from undisclosed investors, PitchBook reports. The Carnegie Mellon University spin out has raised $5.69 million through five rounds and is developing synthetic cardiovascular devices intended to improve the treatment of cardiac defects....

By Jayne Gest

June 11, 2020

Incline’s LYNX buys FRSTeam

Pittsburgh-based private equity firm Incline Equity Partners’ portfolio company, LYNX Franchising has further expanded its commercial services brand offering through the acquisition of FRSTeam. FRSTeam focuses on disaster recovery, specializing in damage from smoke, fire, water and mold....

By Jayne Gest

June 10, 2020

Othot raises $1.32M in funds

Othot Inc. recently raised $1.32 million of venture funding in the form of convertible debt from undisclosed investors, according to PitchBook. The Pittsburgh developer of cloud-based software designed for predictive analytic services has raised $8.83 million to date....

By Jayne Gest

June 2, 2020

Volkswagen’s $2.6B investment in Argo AI closes

Volkswagen AG’s investment in Argo AI has closed, which solidifies the Pittsburgh-headquartered business’s capital position and differentiates it as the only self-driving technology platform company with partnerships and commercial agreements, via Ford and Volkswagen, for deployment across the U.S. and Europe....

By Jayne Gest

June 1, 2020

ALung closes $18.52M funding round

ALung Technologies Inc. recently completed its sixth round of venture funding, which resulted in $18.52 million from Audrey’s Kitchen and other undisclosed investors, PitchBook reports. The transaction included $2.26 million in total new debt. ALung has raised $112.6 million to date....

By Jayne Gest

May 29, 2020

Innovatus Imaging assets sold to 626

Delray Beach, Florida-based 626 Holdings LLC, a third-party company in the health care technology management market, has acquired the CR and DR business of Innovatus Imaging, which is headquartered in Pittsburgh....

By Jayne Gest

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 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 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 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 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 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 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 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 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

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

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

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

April 22, 2020

Voci Technologies sold to Medallia

Medallia Inc., a global provider of experience management, has agreed to acquire Pittsburgh-based Voci Technologies, the real-time speech to text platform, for $59 million in cash....

By Jayne Gest

April 22, 2020

Conservation Labs raises venture funding

Conservation Labs Inc. recently raised $725,000 of venture funding from undisclosed investors, according to PitchBook. The business is developing smart water meter technology designed to monitor water consumption in the built environment....

By Jayne Gest

April 14, 2020

Duolingo adds $10M in funding

Duolingo Inc. recently raised an additional $10 million in venture funding from undisclosed investors, according to PitchBook. This brings the total funding raised to date to $148.3 million....

By Jayne Gest

April 6, 2020

KPA buys MTS

KPA, a provider of environment, health and safety and workforce compliance software, consulting and training, has acquired Multimedia Training Systems, a Pittsburgh safety training company....

By Jayne Gest

April 6, 2020

Innovu raises venture funding

Innovu LLC recently raised $4.58 million in venture funding from undisclosed investors, PitchBook reports....

By Jayne Gest

March 25, 2020

Seegrid raises $25M in venture funding

Seegrid Corp. recently raised $25 million of venture funding in a deal led by G2VP, PitchBook reports. The company intends to use the funds to accelerate new product introductions, as well as support growth and hiring plans....

By Jayne Gest

March 20, 2020

Levin Furniture deal is reportedly off

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....

By Jayne Gest

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....

By Jayne Gest

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....

By Jayne Gest

March 17, 2020

Dealer Venom purchases WebKite tech

Dealer Venom has acquired the technology from WebKite Inc. With this transaction, Dealer Venom further extends its reach in the digital automotive retail space and lays the foundation to expand its offerings....

By Jayne Gest

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....

By Jayne Gest

March 16, 2020

Peoples acquisition completed by Essential Utilities

Essential Utilities Inc. has successfully completed the acquisition of Peoples, a Pittsburgh-based natural gas distribution company, in an all-cash transaction that reflects an enterprise value of $4.275 billion, including the assumption of approximately $1.1 billion of debt....

By Jayne Gest

March 12, 2020

nanoGriptech raises $6M in capital funding

Pittsburgh-based nanoGriptech, a commercial manufacturer of micro-structured dry adhesives and surfaces, has received $6 million in capital funding, which it plans to use to scale its manufacturing operations and strengthen its commercialization activities....

By Jayne Gest

March 10, 2020

Containership assets acquired by Hitachi Vantara

The assets of Pittsburgh-based startup Containership have been acquired by Hitachi Vantara, an information technology and services firm in Santa Clara, California....

By Jayne Gest

March 9, 2020

WESCO updates financing plan for Anixter merger

Pittsburgh-headquartered WESCO International Inc. expects to fund the cash portion of its merger with Anixter with debt and cash-on-hand because of current market conditions. WESCO previously anticipated issuing WESCO common stock or other equity or equity-linked securities, in addition to issuing debt....

By Jayne Gest

March 9, 2020

Acusis buys Woodham HIM Solutions

Acusis LLC, a Pittsburgh-based provider of clinical documentation and revenue cycle management solutions since 2001, has acquired Woodham and Associates of Florida LLC....

By Jayne Gest

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....

By Jayne Gest

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....

By Jayne Gest

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....

By Mark Scott

March 5, 2020

Ansys to buy Vancouver’s Lumerical

Ansys has agreed to acquire Lumerical Inc., which develops photonic design and simulation tools. The acquisition will add photonics products to the Ansys multi-physics portfolio....

By Jayne Gest

March 5, 2020

Knopp Biosciences raises debt financing

Knopp Biosciences LLC recently raised $1 million of convertible debt financing from an undisclosed investor, PitchBook reports. The company has raised $179.29 million to date and is valued at $200 million....

By Jayne Gest