Pittsburgh - Smart Business Dealmakers
Subscribe to Smart Business Dealmakers
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 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
January 23, 2020
Boschini Miller and Associates sold
Fort Lauderdale-headquartered FMS Solutions has acquired Boschini Miller and Associates, an 18-person accounting services firm in Westmoreland County that provides support to multiple grocery, restaurant and other retail environments....
By Jayne Gest
January 22, 2020
Jamie Van Buren coaches newly minted CEOs on buying and growth
Jamie Van Buren estimates he’s bought about 20 businesses over the course of his career, but today he truly enjoys mentoring young presidents and CEOs on buying companies and strategic initiatives to help the acquired company grow....
By Jayne Gest
January 22, 2020
R&D Coatings sold to Universal Woods
R&D Coatings, which operates in Pittsburgh, has been acquired by Louisville-headquartered Universal Woods LLC, a portfolio company of Capital Partners....
By Jayne Gest
January 22, 2020
Regent Square Capital teams up to buy Generator Source
Pittsburgh private equity sponsor Regent Square Capital and Houston PE firm Galtney Partners have acquired Generator Source LLC, a sales and service provider of commercial standby generators and related services in Colorado and Southern Wyoming....
By Jayne Gest
January 21, 2020
Incline Equity raises $1.165B for latest fund
Incline Equity Partners has closed Incline Equity Partners V, L.P. and Incline Equity Partners V-A, L.P. on $1.165 billion of capital commitments. The fund was oversubscribed above its initial target of $850 million....
By Jayne Gest
January 20, 2020
Birchmere Ventures to top off fund with $10M
Pittsburgh’s Birchmere Ventures is raising another $10 million with its BV5 Annex LLC that goes along with its active Birchmere Ventures V fund, according to a SEC filing....
By Jayne Gest
January 16, 2020
Aqua America receives approval for People’s merger
Aqua America Inc., which is headquartered in Bryn Mawr, Pennsylvania, will take a new company name, Essential Utilities Inc., as of Monday, Feb. 3. The announcement comes after the Peoples acquisition received regulatory approval at the Pennsylvania Public Utility Commission’s Jan. 16 meeting....
By Jayne Gest
January 16, 2020
John Roppo: Before the sale, focus on what you can control
John Roppo has found preparation critical to the sale process. The long-time CFO, who recently started his own consulting firm, gives some tips to help companies prep for sale and focus on what they can control....
By Jayne Gest
January 15, 2020
Digital Dream Labs buys Anki Robotics & Artificial Intelligence assets
Digital Dream Labs has acquired Anki Robotics and Artificial Intelligence assets without taking on any liabilities, effective immediately. The Pittsburgh company plans to relaunch the product line, deploy new features and develop new robots....
By Jayne Gest
January 15, 2020
GA Investment joins Stratos Wealth Advisors
Stratos Wealth Advisors, a Stratos Wealth Network company, has added Pittsburgh-based GA Investment Management, with committed assets of $400 million, to its network of independent financial advisers. Stratos is headquartered in Beachwood, Ohio....
By Jayne Gest
January 15, 2020
EQT prices senior notes
Pittsburgh-headquartered EQT Corp. has priced an offering of $1 billion of its 6.125 percent senior notes due Feb. 1, 2025 and $750 million of its 7 percent senior notes due Feb. 1, 2030....
By Jayne Gest
January 15, 2020
Phoenix Rehab purchases Youngstown area clinics
Phoenix Rehabilitation and Health Services has acquired Youngstown-based TuDor Physical Therapy, which becomes the company’s first group of clinics in Ohio. This brings Phoenix’s total clinics to 117....
By Jayne Gest
January 14, 2020
UPMC Enterprises to invest $1B
UPMC Enterprises plans to deploy $1 billion to develop new drugs, diagnostics and devices by 2024. The investment group also has expanded its focus to include retinal and respiratory disease, autoimmune diseases, neuroinflammation and others....
By Jayne Gest
January 13, 2020
WESCO and Anixter to merge
Anixter International Inc. has agreed to allow Pittsburgh-based WESCO to buy Chicago area-headquartered Anixter in a transaction valued at approximately $4.5 billion. The transaction will deliver greater scale with an enhanced geographic footprint and supply chain services in the industries of network and security, electrical and electronic, and utility power....
By Jayne Gest
January 10, 2020
Grove City Medical Center closes deal with Allegheny Health Network
Allegheny Health Network and Grove City Medical Center have finalized an affiliation agreement that brings GCMC into the family of hospitals affiliated with and operated by the Pittsburgh-based health system....
By Jayne Gest
January 9, 2020
NOVA Chemicals sells Novealis ownership interest
Borealis AG and NOVA Chemicals Corp. have agreed that Borealis will buy out NOVA Chemicals’ 50 percent ownership interest in Novealis Holdings LLC. NOVA Chemicals' executive offices are in a Pittsburgh suburb....
By Jayne Gest
January 9, 2020
WESCO revises Anixter proposal in bidding war
Pittsburgh-headquartered WESCO International Inc. submitted an improved proposal to the board of Anixter International to acquire the Cook County, Illinois, company for $100 per share in cash and stock....
By Jayne Gest
January 9, 2020
Riverside buys ImPact Applications
Itasca, Illinois-based Riverside Insights, a portfolio company of Alpine Investors, has acquired ImPACT Applications Inc., a Pittsburgh provider of research-backed concussion assessments....
By Jayne Gest
January 8, 2020
CONSOL invests in CFOAM Corp
CONSOL Energy Inc. made an initial investment in the coal-to-products space by acquiring a 25 percent equity interest in CFOAM Corp. for $3.5 million. The Canonsburg-based company hopes the transaction will provide a high-margin revenue stream and intriguing new opportunities in coal....
By Jayne Gest
January 8, 2020
Westinghouse buys UK inspection company, InCon
Westinghouse Electric Co. has acquired Inspection Consultants Limited, a U.K.-based provider of inspection services. This acquisition strengthens Westinghouse’s ability to support its existing operating nuclear fleet, as well as in-service inspection customers outside of the nuclear industry....
By Jayne Gest
January 8, 2020
Wabtec purchases RELCO Locomotives
Wabtec Corp. has acquired RELCO Locomotives Inc., a player in the locomotive overhaul and maintenance industry. The acquisition expands Wabtec’s freight services capabilities and capacity to support growth in the remanufacturing and repair business....
By Jayne Gest
January 8, 2020
PPG to buy Italian manufacturer ICR
PPG has agreed to acquire Industria Chimica Reggiana S.p.A., a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries. The strategic deal will complement PPG’s current product offering and add specialized, value-added products....
By Jayne Gest
January 7, 2020
MSA develops a better integration formula
Until a decade ago, MSA Safety hadn’t been very successful with its acquisitions. But that changed when the safety equipment manufacturer started taking an intentional approach to integration that's spearheaded by the right deal quarterback....
By Jayne Gest
January 7, 2020
Kennametal completes closures, continues restructuring
Pittsburgh-headquartered Kennametal Inc. recently completed the full closures of its manufacturing facilities in Lichtenau, Germany and Irwin, Pennsylvania, and consolidated those operations into other Kennametal facilities. The company also decided to downsize a Essen, Germany facility, rather than close it....
By Jayne Gest
January 7, 2020
Chicago’s North Square to purchase McKee in Pittsburgh
North Square Investments, a Chicago multi-boutique manager with a range of equity product offerings, has agreed to acquire a majority interest in the business of C.S. McKee L.P., a full-service institutional money manager, headquartered in Pittsburgh....
By Jayne Gest
January 6, 2020
Parkway West building sold for $41.4M
2000 Park Lane Drive, a 234,859 square foot, seven-story, Class A office property in Pittsburgh, was acquired for $41.4 million, which equates to $176 per square foot, by Property Income Advisors Inc., which was advising a Gulf-based client....
By Jayne Gest
January 6, 2020
Goff Back Alftera & Co buys Seachrist & Associates
Goff Backa Alfera & Co. LLC has acquired the audit and attestation practice of Seachrist & Associates A.C., effective Jan. 1, 2020. The former Seachrist & Associates audit team will continue to operate from Wheeling, West Virginia, and service clients in the same manner....
By Jayne Gest
January 3, 2020
Paris Healthcare Linen Services to merge with NOVO Health Services
Tuckahoe Holdings Managing Partner Peter Farrell and Paris Cos. Owner, President and CEO David J. Stern have decided to merge their subsidiary companies, NOVO Health Services and Paris Healthcare Linen Services....
By Jayne Gest
January 2, 2020
A forecast of what to expect for 2020 Dealmaking in Pittsburgh
Smart Business Dealmakers spoke with Tecum Capital’s Stephen Gurgovits Jr., S&T Bank’s Brian Dobis and Innovation Works' Rich Lunak about what they anticipate for the 2020 dealmaking climate....
By Jayne Gest
January 2, 2020
Christie & Young joins Burns White
The 13 attorneys and 12 support staff from Philadelphia-based Christie & Young PC have joined the Pittsburgh firm Burns White LLC. This expands Burns White’s reach in the Philadelphia metropolitan area and should enhance the firm’s already robust health care and professional liability practice areas....
By Jayne Gest
