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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

March 5, 2020

Ikos raises early-stage venture capital round

Ikos Holdings Inc. recently raised $855,832 of venture funding in the form of convertible debt from undisclosed investors, according to PitchBook....

By Jayne Gest

March 4, 2020

Evoqua Water Technologies public offering

Evoqua Water Technologies Corp. launched a secondary public offering of 13 million shares of its common stock by certain shareholders of the company, including certain affiliates of AEA Investors LP....

By Jayne Gest

March 3, 2020

PPG completes Alpha Coating Technologies purchase

Pittsburgh-headquartered PPG has completed its acquisition of Alpha Coating Technologies LLC, a Chicago manufacturer of powder coatings for light industrial applications and heat sensitive substrates....

By Jayne Gest

March 3, 2020

PHOENIX to buy physical therapy firm

Cranberry Township, Pennsylvania-headquartered PHOENIX Rehabilitation & Health Services has agreed to acquire Colorado Athletic Conditioning Clinic, expanding the company’s geographic reach to Colorado....

By Jayne Gest

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....

By Jayne Gest

February 27, 2020

Minnotte Contracting purchased by Day & Zimmermann

Day & Zimmermann, a provider of construction, engineering, maintenance, staffing and defense solutions, has acquired Minnotte Contracting Corp., a Pittsburgh-based union mechanical contractor and construction company. The acquisition broadens D&Z’s union staffing and project management capabilities....

By Jayne Gest

February 26, 2020

EQT exchanges half its equity stake in Equitrans Midstream

Pittsburgh-headquartered EQT Corp. has exchanged 50 percent of its equity stake in Equitrans Midstream Corp. for $52 million in cash and substantial incremental fee relief....

By Jayne Gest

February 25, 2020

RoadRunner Recycling raises $23.61M in venture funding

RoadRunner Recycling Inc. has raised $23.61 million in venture funding from undisclosed investors, according to PitchBook. The Pittsburgh company has raised $43.71 million over three rounds....

By Jayne Gest

February 24, 2020

Gridwise completes seed funding round

Gridwise Inc. has raised $5.61 million of seed funding from Innovation Works, Fontinalis Partners and Swallow Point Ventures, putting the company’s pre-money valuation at $4 million, according to PitchBook....

By Jayne Gest

February 21, 2020

ALung raises $16.25M in venture funding

ALung Technologies Inc. has raised $16.25 million in venture funding from Audrey’s Kitchen and other undisclosed investors, according to PitchBook. The Pittsburgh company has raised more than $110 million since it was founded in 1997....

By Jayne Gest

February 19, 2020

Breezie sold to VitalTech

VitalTech, a Texas, provider of connected care, digital health and remote patient monitoring, has acquired Breezie™. The technology startup’s North American headquarters is located in Pittsburgh....

By Jayne Gest

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....

By Jayne Gest

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....

By Gregory D. Cessna

February 18, 2020

Koppers to divest China distillation business

Koppers Holdings Inc. has agreed to sell Koppers (Jiangsu) Carbon Chemical Company Limited to Fangda Carbon New Material Co. Ltd. and C-Chem Co. Ltd, a subsidiary of NIPPON STEEL Chemical & Material Co. Ltd. for $107 million....

By Jayne Gest

February 13, 2020

Smith Micro buys the operator business of Circle Media Labs

Pittsburgh-headquartered Smith Micro Software Inc. has acquired the operator business of Circle Media Labs Inc. for approximately $13.5 million in cash. The transaction will expand and enhance the overall capabilities Smith Micro's portfolio....

By Jayne Gest

February 12, 2020

Altoona Honda under new ownership

Bill Barnes and Paul Ritchie recently sold Altoona Honda to Timbrook Automotive, which has 11 dealerships throughout Maryland, Virginia and West Virginia. This is Timbrook’s first location in Pennsylvania....

By Jayne Gest

February 11, 2020

Bedford Funds launches $2B fund raise

Pittsburgh-based Bedford Funds LP is launching a $2 billion fund raise, that looks to create a private equity fund specifically targeting operating businesses, rather than real estate investments....

By Jayne Gest

February 11, 2020

Carnegie Learning divests Paradigm Education Solutions

Carnegie Learning, a Pittsburgh learning technology company, has agreed to sell Paradigm Education Solutions, a post-secondary provider of print and digital learning solutions, to Kendall Hunt Publishing Co....

By Jayne Gest

February 11, 2020

Celsense raises funding

Pittsburgh-based Celsense Inc. is in the process of raising $500,000 of venture funding in form of convertible debt, according to PitchBook....

By Jayne Gest

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....

By Jayne Gest

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....

By Jayne Gest

February 5, 2020

PPG to buy Alpha Coating Technologies

Pittsburgh-headquartered PPG has agreed to acquire Alpha Coating Technologies LLC, a West Chicago manufacturer of powder coatings for light industrial applications and heat sensitive substrates....

By Jayne Gest

February 5, 2020

A. Stucki Co. parent company buys Salco Products

Stone Canyon Industries Holdings LLC’s SCI Rail Holdings LLC has — through its subsidiary, A. Stucki Company in Moon, Pennsylvania — has acquired Salco Products Inc. The acquisition of Salco, which is based in a Chicago suburb, broadens SCI Rail’s freight car product offering and expands its customer reach....

By Jayne Gest

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....

By Jayne Gest

February 4, 2020

Incline invests in BFG Supply

Incline Equity Partners, a Pittsburgh-based private equity firm, has acquired BFG Supply, a Burton, Ohio, provider of third-party and proprietary branded products to the lawn and garden industry....

By Jayne Gest

February 3, 2020

UPMC closes Western Maryland Health System deal

Western Maryland Health System officially has become UPMC Western Maryland, merging into the UPMC hospital network. UPMC has committed to make certain capital investments to enhance services and upgrade facilities in the Western Maryland region....

By Jayne Gest

February 3, 2020

Alcoa completes waste treatment business sale

Alcoa Corp. has completed the sale of Elemental Environmental Solutions LLC, a wholly-owned Alcoa subsidiary that operates a 1,300-acre hazardous waste treatment business in Gum Springs, Arkansas....

By Jayne Gest

February 3, 2020

PPG finalizes ICR acquisition

PPG has completed its acquisition of Industria Chimica Reggiana S.p.A., a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries....

By Jayne Gest

January 31, 2020

Westinghouse closes Rolls-Royce Civil Nuclear purchase

Westinghouse Electric Co. has completed its acquisition of Rolls-Royce’s Civil Nuclear Systems and Services business in North America and in select sites in Europe. The deal represents a strategic investment in expanding the company’s nuclear products and services offerings ....

By Jayne Gest

January 28, 2020

Incline Equity buys Foundation Source

Incline Equity Partners, a Pittsburgh PE firm, has acquired Foundation Source, a national provider of comprehensive support services to private foundations. The partnership should position Foundation Source to expand its services, expertise and online capabilities, fueling its long-term growth....

By Jayne Gest

January 28, 2020

Huckestein Mechanical Services sold

Pittsburgh-based Huckestein Mechanical Services Inc. has been sold to Service Logic, a portfolio company of Warburg Pincus. The Charlotte, North Carolina, business acquires companies with a focus on retaining their individual cultures and entrepreneurial spirit....

By Jayne Gest

January 28, 2020

MOUNTAIN, a System One division, buys Texas firm

System One division MOUNTAIN LTD., a Maine-headquartered engineering services provider to the telecommunications industry, has acquired Level 5 Consulting Engineers, a wireless telecommunication architecture and engineering services provider. System One is based in Pittsburgh....

By Jayne Gest

January 28, 2020

Arconic offers debt in anticipation of separation

Pittsburgh-based Arconic Inc. has proposed offering second-lien notes by Arconic Rolled Products Corp., which is currently a wholly-owned subsidiary of Arconic....

By Jayne Gest

January 27, 2020

Cohen & Grigsby sale to Denton finalized

Dentons has completed its combination of Pittsburgh-headquartered Cohen & Grigsby and Indianapolis-based Bingham Greenebaum with Dentons US, which launches the first step in forming a national law firm in the United States....

By Jayne Gest

January 27, 2020

Brashear Construction Consulting sold to Rimkus

Rimkus Consulting Group Inc., a Houston-headquartered provider of forensic engineering and consulting services, has acquired Pittsburgh-based Brashear Construction Consulting Inc., in order to expand Rimkus’ core service lines and team of technical experts....

By Jayne Gest