January 22, 2020
By Jayne Gest
Dave Enright has a lot of experience in the "wild, wild west" of buying — deals that are below $5 million EBIDTA. The senior vice president and commercial banker at S&T Bank digs into the financing behind buying companies in the lower middle market.
January 17, 2020
Victor Thorne was bit by the entrepreneur bug early. In his mid 20s, he started his first company with his older brother. Today, the partner at Origin Malt is still enthusiastic about investing and entrepreneurship, but his focus has changed.
January 13, 2020
Middle-market companies most likely will undergo a major transition over the next five years. While they often can be unexpected, companies shouldn't be surprised. Thomas A. Stewart of the National Center for the Middle Market discusses deal preparation.
January 9, 2020
About three years ago, DHL Supply Chain changed how it considered digitalization, moving from defense to offense and working directly with startups. Sally Miller, CIO North America, shared how the company set up and runs this innovation funnel.
January 8, 2020
Brad Kitchen, president of Alterra Real Estate Advisors, has purchased the five-story building occupied by M/I Homes corporate office at 3 Easton Oval, for $6.5 million. At $75 per square foot, Kitchen saw a value-add opportunity with this property.
January 2, 2020
Smart Business Dealmakers spoke with Ice Miller's Rob Ouellette, Dickinson Wright's Scot Crow and U.S. Bank's Steve Bennett about what they forecast for the 2020 dealmaking climate.
January 2, 2020
Columbus-headquartered Hyperion Materials & Technologies, which develops hard and super-hard materials for a range of demanding applications, has completed its acquisition of AFC Hartmetall, a premium cemented carbide tool blank manufacturer.
December 23, 2019
Lingerfelt CommonWealth Partners LLC, a Richmond, Virginia-based commercial real estate investment firm, has acquired a 24-story office tower in downtown Columbus. Chase Tower is currently 60 percent occupied and presents a significant repositioning opportunity in a market that has historically experienced office occupancies above 90 percent.
December 18, 2019
Katy Wiles has learned a thing or two about running an efficient deal process on the buy side. The lead attorney and legal adviser for Hawthorne Gardening Co., a wholly owned subsidiary of Scotts Miracle-Gro., shares her take on creating a core team and how deal processes should work.
December 16, 2019
Gecko Robotics, which develops and operates robots to automate infrastructure inspections, has raised a Series B funding round of $40 million, led by Columbus-based Drive Capital. The Pittsburgh startup and Y-Combinator alum plans to use the funds to support its quickly scaling business operations.
December 11, 2019
The idea of selling to a third party can be terrifying to many business owners. An employee stock ownership plan may be the answer, but first take the time to truly understand the fundamentals behind ESOPs, says Bruce Lazear, who's firm, Lazear Capital Partners, handles many of these exit strategies.
December 10, 2019
Vertiv Holdings LLC, a global provider of digital infrastructure and continuity solutions headquartered in Columbus, will become a publicly traded company through a merger with GS Acquisition Holdings Corp, a special purpose acquisition company co-sponsored by an affiliate of The Goldman Sachs Group Inc. and David M. Cote.
December 4, 2019
When Stonehenge Partners invests in a business, it’s looking for operators who have skin in the game. This means, as a fund, it often finds the most opportunity through minority recapitalizations, says Managing Partner Andrew Bohutinsky.
December 2, 2019
Whitehall-headquartered Heartland BancCorp has agreed to merge Victory Community Bank, a federal savings association with its main office in Ft. Mitchell, Kentucky, into Heartland Bank, in a transaction valued at approximately $41.1 million.
November 27, 2019
Earlier this year, the three-store A.D. Farrow Co. Harley-Davidson dealership was purchased by Ricart Automotive. One of the investors, Fred Vorys, walks us through the sale, which is an interesting example of a recapitalization.
November 21, 2019
WillowTree LLC and Columbus-based Dynamit Technologies LLC, digital product agencies focused on designing and delivering mobile, web and voice applications, have agreed to combine forces to create the largest independent agency of its type in the U.S., with over 500 employees.
November 21, 2019
The Ohio Third Frontier Commission approved up to $26.5 million to JumpStart and up to $14 million to Rev 1 Ventures to help entrepreneurs develop innovative products and grow technology startup companies. Other recipients included the OhioHealth Innovation Development Fund, Akron PolyEnergy, Capture Collective, Exotome, IR Medtek, Matsaki Technologies, NeuroTherapia and RooSense.
November 19, 2019
When Michael Scott went out on his own in 2010, after more than 20 years of private equity and M&A experience, he knew there was no room for mistakes. That's why he looked for opportunities with a competitive advantage.
November 15, 2019Local Deals Philadelphia Columbus
November 12, 2019
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.
November 12, 2019
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.
November 12, 2019
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.
November 7, 2019
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.
November 5, 2019
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.
November 1, 2019
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.
October 29, 2019
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.
October 22, 2019
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.
October 21, 2019
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.
October 18, 2019
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.
October 17, 2019
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.
October 16, 2019
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.
October 10, 2019
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.
October 8, 2019
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.
October 8, 2019
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.
October 7, 2019
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.
October 3, 2019
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.
September 24, 2019
Innovative Leadership Institute President Mike Sayre shares lessons learned from decades of dealmaking.
September 23, 2019Local Deals Columbus
September 23, 2019
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.
September 20, 2019
Serial entrepreneur Hugh Cathey, now on his ninth startup with genetic testing company ChromoCare, shares his best practices for raising capital.
September 18, 2019
Fastcase, a Washington D.C. legal publisher, has acquired NextChapter, the Columbus startup that creates cloud-based bankruptcy software for attorneys and paralegals. Fastcase plans to invest in NextChapter to create products that integrate legal research, dockets and news, for bankruptcy and beyond.
September 13, 2019
Ikove Capital Partners keeps a low profile, investing at the founder level in companies that commercialize technologies in partnership with Midwest research institutions like Ohio State. By the end of next year, it expects to have 20-plus companies in a portfolio that already includes Nikola Labs, ParaGen Technologies and Cognovi Labs.
September 12, 2019
Hyperion Materials & Technologies Inc., a Worthington-headquartered materials science company focused on the hard and superhard materials space for high-precision applications, has agreed to acquire Arno Friedrichs Hartmetall GmbH & Co. KG and its affiliates. The strategic transaction is intended to make Hyperion a leading player in cemented carbide blank production.
September 9, 2019
This latest round, led by DST Global and Coatue, raises Root’s valuation to $3.65 billion and provides additional capital to accelerate growth in existing markets while expanding into new states and developing new product lines.
September 6, 2019Local Deals Columbus Pittsburgh
September 6, 2019
Chris Gabrelcik always sees potential opportunities when looking to buy a company. But the CEO of Lubrication Specialties has to remind himself to bring a critical eye to the deal.
September 4, 2019
SPAGIO, the Grandview restaurant and wine lounge founded by Chef Hubert Seifert and his wife, Helga, 38 years ago, has been sold to a Central Ohio-based restaurant group. Wine|Dine Holdings and cityBRANDS own and operate several restaurant concepts throughout the area, including The Wine Bistro, NAPA kitchen + bar and Katzinger’s Delicatessen.
September 4, 2019Local Deals Chicago Columbus
September 4, 2019
Safelite® Group, a vehicle glass services and recalibration company and owner of Safelite® AutoGlass, has acquired the assets of Auto Glass Specialists. The single store location in Glenwood Springs, Colorado, will expand Safelite’s brick-and-mortar footprint in the area.
August 29, 2019
The first time Ellen Grinsfelder tried to sell the Inn & Spa at Cedar Falls was a bust. Three years later, she sold it without ever having to list it. Here's how she did it.
August 28, 2019
Serial entrepreneur Ilya Bodner says every startup needs an idea, capital and great people. That's become the lens through which he makes all his decisions in building Bold Penguin, his fast-growing insuretech business.
August 21, 2019
Descartes Systems Group has acquired Columbus-headquartered BestTransport.com Inc., a cloud-based transportation management system provider focused on flatbed-intensive manufacturers and distributors, for $11.2 million. The deal should strengthen the Ontario company’s transportation management footprint.
August 21, 2019
Commonwealth Hotels LLC has bought the Courtyard Columbus-Worthington in order to expand its reach in the Columbus market through the Worthington property. The transaction is the Cincinnati-Northern Kentucky metropolitan area company’s fourth Courtyard and 21 Marriott hotel.
August 21, 2019
CEO Scott Barbour grabbed the pole position, and never let his foot off the gas in his bid to close the $1 billion deal.
August 19, 2019
Installed Building Products Inc., an installer of insulation and complementary building products, has acquired Therm-Con LLC and Foamtech Inc. With trailing 12-month revenue of $4.7 million, Therm-Con enhances IBP’s presence in markets throughout Tennessee and its surrounding states.
August 19, 2019
Safelite® Group has agreed to acquire the combined businesses of TruRoad, which includes COP TruRoad Parent LLC and COS SCS Parent LLC, from Dallas PE firm CenterOak Partners LLC. With this deal, Safelite will have increased capacity to expand its national footprint, accelerate growth and better serve its customers and clients.
August 15, 2019
GhostWave founder Dean Zody discusses his company, which grew out of research at The Ohio State University, and its progress toward scale and commercialization.
August 8, 2019
When the co-owners of Two Men and A Truck – Columbus came up with a unique plan to sell their franchise to an employee, their lawyers were skeptical. Very skeptical. But after two false starts, Gail and John Kelley sold the moving company's No. 2 franchise.
August 6, 2019
South Bend, Ind.-based Heartland Ventures, which focuses on connecting startups to corporations, picked Columbus out of 15 Midwest cities for expansion because of the corporate involvement in the city's collaborative early-stage community.
August 1, 2019
Advanced Drainage Systems Inc. has acquired Infiltrator Water Technologies for approximately $1.08 billion, from an affiliate of the Ontario Teachers’ Pension Plan and other stockholders. The deal builds on ADS’ existing water management solutions platform and is an opportunity to expand into the on-site septic business.
August 1, 2019
The founder of COhatch discusses how it fits — or doesn’t — into the coworking space, and how he hopes to leverage the business to strengthen startup communities.
July 25, 2019
After cutting his teeth on real estate investing, Kassel Equity found it could create more value in buying businesses than properties, says Managing Partner Brett Motherwell.
July 23, 2019
The acquisition includes 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.
July 22, 2019
Canada's Granite REIT bought a total of three industrial properties including an 802,390-square-foot distribution center near Rickenbacker International Airport.
July 17, 2019
Michael Jordan didn’t expect to become an expert in investor-side representation for alternative investments. He stumbled into the niche 22 years ago. Here's what he's seeing in the marketplace.
July 10, 2019
Green Growth Brands Inc. has agreed to create a new Ontario limited partnership with MXY Holdings LLC, among others, where GGB will acquire the issued and outstanding units of Moxie in an all-equity interest transaction for around $310 million. The plan is to create the first 360-degree cannabis company.
July 9, 2019
Avaap has acquired Columbus-based Navigator Management Partners, a cross-platform management and technology consulting firm specializing in ERP systems, business intelligence and change management. The strategic acquisition expands the Edison, New Jersey, firm’s capabilities.
July 2, 2019
Finance Fund connects underserved communities in Ohio with public and private sources of capital to improve access to healthy food, health care service, education and affordable housing.
June 26, 2019
It’s a seller’s market, and large strategic buyers are being very aggressive — in some cases, short-cutting due diligence processes, says Wade Kozich, senior advisor with boutique investment bank Footprint Capital and senior director at GBQ Partners.
June 19, 2019
Startup founders should focus on how to achieve reasonable growth to get the next round of funding, the experience angel investor says.
June 18, 2019
Furey Filter & Pump and PSI Engineering will continue to operate under their current names and with current management, including President George Furey and Vice President Jack Furey.
June 11, 2019
The Dispatch Broadcast Group has agreed to sell two television stations — Columbus CBS affiliate WBNS and Indianapolis NBC affiliate WTHR — as well as sports radio station, WBNS Radio, to Virginia-based TEGNA Inc. for $535 million in cash. TEGNA sees the acquisitions as an excellent strategic and financial fit.
June 5, 2019
How the CEO of the health care company brought on three rounds of investors, while keeping control of the business she founded.
May 29, 2019
The fast-growing dental benefits provider raised a Series D round led by Toronto PE firm, Georgian Partners. Columbus-based Drive Capital, which was involved in two previous funding rounds, participated in the latest capital raise as well.
May 29, 2019
After quietly raising $5 million, the microtransit business is expanding into Cleveland, Cincinnati, Detroit, Indianapolis and Dallas, with more cities on the way.
May 22, 2019
The managing partner of Stonehenge Partners shares his approach to buying with multiples approaching a peak, and how buying strategies have changed in the current environment.
May 20, 2019
Snapsheet, a provider of cloud-based insurance claims services, has closed $29 million in Series E funding led by Seattle-based Tola Capital.
May 17, 2019
In addition to raising the general operating funds, the company completed its $13.4 million acquisition of a Pahrump, Nev., cultivation facility, its second in the state.
May 15, 2019
For years, the future of The Ohio State University west campus has been up in the air. That’s changing with the first three buildings planned for an eventual innovation district.
May 14, 2019
Cleveland-based Industrial Commercial Properties LLC has acquired a 570,000-square-foot, former Sears distribution center on 42.8 acres, in the Columbus suburb of Groveport. This is ICP's fourth Sears property purchase since 2014.
May 13, 2019
EG Group will acquire Certified Oil and its 69 convenience stores and gas stations. The transaction will be an important step in building out the U.K.-based company's U.S. strategy.
May 6, 2019
Ohio Grown Therapies is building out its 32,000-square-foot cultivation and processing facility, which includes 15,000 square feet for two-tier cultivation and 7,500 square feet for processing.
May 1, 2019
The owners of D.P. Dough, the nation’s largest calzone franchise and third largest college-focused restaurant chain, have agreed to sell the Columbus-headquartered company to Calios, a 13-unit competing calzone chain. Each Calios restaurant will convert to D.P. Dough, growing the brand from 26 restaurants to 43 by fall 2019.
May 1, 2019
Drive Capital has closed its third flagship fund at $307 million and raised nearly $251 million for its first overdrive fund, according to SEC filings.
May 1, 2019
From nearly missing payroll to expanding too quick, the founder survived missteps on the way to building one of the area's hottest fast-casual restaurant chains.
April 24, 2019
Ohio Transmission CEO Phil Derrow, talks about the challenges of ESOPs, openness during transactions and two important rules when making deals.
April 23, 2019
Dallas-based Transwestern Investment Group has acquired a 1.5 million-square-foot industrial portfolio in Southeast Columbus.
April 18, 2019
Although X-Squared Angels disbanded at the end of last year as membership fizzled, early-stage and startup female founders appear to be on the rise. We talk to Cindi Englefield and Mary McCarthy of the Women’s Small Business Accelerator.
April 11, 2019
Before he closes any deal, Alan Rudy gets to work on his ‘integration checklist’ — a list of the hundreds of tasks his team will execute to ensure a smooth transition. Learn how the CEO puts integration front and center in every deal.
April 9, 2019
Proteam Solutions, an IT consulting and staffing firm, has invested in the San Francisco-based startup Akava. PSI will have access to Bay Area talent and resources through the software development studio.
April 5, 2019
In 2018 alone, Rev1 clients generated more than $123 million in revenue and attracted more than $157 million in capital to the region.
April 1, 2019
Truck upfitter ProBilt Services of Ohio, along with its 30,000 sq. ft. facility located less than half a mile from the Kenworth assembly plant in Chillicothe, has been acquired by Fontaine Modification.
March 28, 2019
Former CEO Tanisha Robinson explains how crowdfunding payed a key role in the beer maker's whirlwind growth in the U.S.
March 20, 2019
Scotts Miracle-Gro Co. has sold its 30 percent stake in TruGreen to the majority owner for approximately $234 million in a move to reduce debt and maximize shareholder value.
March 20, 2019
The new venture, backed by Cameron Mitchell Restaurants, will help chefs grow their concepts and build their businesses.
March 15, 2019
Investing in a restaurant sounds glamorous, doesn’t it? And that’s become truer as TV depicts chefs as rock stars. Veteran restauranteur Craig Barnum, who raised capital for his first restaurants more than 20 years ago, paints a different picture — one where there are no clear assets or exit timelines.
March 11, 2019
Architecture and engineering firm DLZ Corp. has acquired Johnson & Anderson Engineers, a civil engineering firm that works in the areas of municipal, water and wastewater engineering, survey and construction services.
February 27, 2019
Dan Manges shares Root's high-speed capital raising journey and meteoric rise to unicorn status.
January 24, 2019
Founder Alan Homewood discusses the growth and sale of 2Checkout. "I made pretty much every mistake it’s possible to make. If there’s a checklist of the mistakes an entrepreneur can make, I made about all of them.”
January 22, 2019
Ted Lape talks about transparency in dealmaking, when ESOPs make sense and his most memorable deals.
December 20, 2018
Master Dealmaker Hugh Cathey talks about what’s changed in M&A, one of his biggest deals and the importance of learning from career wins and losses.
December 19, 2018
Greif's Matthew Leahy sees a disconnect between public and private market valuations. Public markets value businesses based on forward earnings, whereas private transactions are generally trailing. "Public market investors could be too bearish, but at the same time, it creates an interesting nuance,” he says.
November 21, 2018
President and CEO Dave Ciesinski talks about how Lancaster Colony uses M&A as a component of development and innovation.
November 20, 2018
Columbus Partnership President and CEO Alex R. Fischer shares his insights into the next steps for Columbus’ economic development and economy.