Subscribe to Smart Business Dealmakers
April 2, 2020
Synthomer Completes Purchase of OMNOVA Solutions
By Michael Marzec
Synthomer said the acquisition makes it a major world-wide player in water-based polymer solutions.
Local Deals Cleveland
March 18, 2020
JumpStart leads $5.5M Series A investment in ReadySet
ReadySet Surgical, a Cincinnati health care IT company, has raised $5.5 million in a Series A financing round led by Cleveland-based JumpStart Inc.’s NEXT Fund. Also participating in the round are all of ReadySet’s seed-round investors and new investor North Coast Ventures.
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.
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.
March 9, 2020
DHL Supply Chain’s North American headquarters sold
Arch Street Capital Advisors and VEREIT have acquired DHL Supply Chain’s North American Headquarters in Westerville. The property, located within the recently developed Westar Place Business Park, is a new, build-to-suit, 145,000 square foot class A office building.
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.
March 2, 2020
Installed Building Products buys Royals Commercial
Installed Building Products Inc. has acquired Royals Commercial Services Inc. in Millersville, Maryland. With approximately $10 million of annual revenue, the transaction expands IBP’s presence in the greater Baltimore and mid-Atlantic markets.
March 2, 2020
B’laster Corp. Buys MI-Based Armor Protective Packaging
As a result of this acquisition, B’laster is now the manufacturer and retail distributor of Metal Rescue products. The company began manufacturing the product line in its Valley View plant in late February.
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.
February 27, 2020
Minnotte Contracting purchased by Day & Zimmermann
Local Deals Pittsburgh Philadelphia
February 25, 2020
READY Robotics closes Series B round with $23M in additional funds
Columbus-based READY Robotics Corp. has closed its Series B round with an additional $23 million in funding. The round was led by Canaan Partners, with participation from RRE Ventures, Eniac Ventures, Emerald Development Managers and Drive Capital, as well as new investors Micron Ventures and Greenhawk Capital.
February 25, 2020
Align Capital Partners Makes Another Deal
ACP has had a busy February, closing its second private equity investment fund at a $450 million hard cap, and making two platform acquisitions.
February 24, 2020
Condado Tacos takes on new investor, The Beekman Group
Condado Tacos is partnering with The Beekman Group LLC, a private equity firm based in New York City, for its next chapter of growth. The build-your-own taco concept plans to use the funds to optimize its expansion into new markets.
February 21, 2020
Mettler-Toledo purchases D.C. Martin & Son Scales
Columbus-headquartered Mettler Toledo International Inc. has acquired D.C. Martin & Son Scales of Grand Rapids, Michigan, according to Calder Capital LLC.
February 20, 2020
Victoria’s Secret, Pink to be sold to Sycamore Partners
L Brands Inc. plans to position Bath & Body Works as a standalone public company, separating Victoria’s Secret Lingerie, Victoria’s Secret Beauty and PINK into a privately-held entity. New York PE firm Sycamore Partners will purchase a 55 percent majority interest for approximately $525 million. Les Wexner will step down and become chairman emeritus of L Brands.
February 13, 2020
Smith Micro buys the operator business of Circle Media Labs
Local Deals Pittsburgh
February 13, 2020
Kurtz Bros. Buys Landmark Lawn and Garden Supply’s Strongsville Store
Under the new ownership, the Strongsville store will change its name to Kurtz Bros. Inc. The transaction does not include the Landmark Lawn and Garden Supply store in Avon.
February 12, 2020
WW Williams purchases CP Company
W.W. Williams Co. has completed its acquisition of CP Company, which does business as CT Power and Iceberg Enterprises. The transaction should strengthen W.W. Williams with additional independent truck maintenance locations and broaden its trailer parts and related product lines.
February 7, 2020
MedPilot Raises Additional $1.5M In Funding
Investors in this latest round include JumpStart, Jon Pinney, North Coast Angel Fund, Valley Growth Ventures, Wavemaker Partners and Hudson River Capital Partners.
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.
February 5, 2020
Hyland Buys Learning Machine
Learning Machine is considered a pioneer in leveraging blockchain technology to authenticate documents and content.
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.
January 29, 2020
Everstream plans to invest more than $250 million in buildout of its fiber network in 2020
The company also plans to pursue strategic acquisition and partnership opportunities, as well as enter five new Midwest markets.
January 23, 2020
Seeley Law Office Merges Into Buckley King
The deal is expected to provide Seeley’s client base with a broader range of legal services, as well as enhance Buckley King’s service offerings to clients.
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.
January 20, 2020
Samya.AI Raises $6M In Seed Funding Led By Sequoia India
Samya.AI is an enterprise revenue growth AI SaaS company headquartered in Chicago with offices in London and its main product and R&D center in Bangalore, India.
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.
January 15, 2020
MRI Software Gets Investment From Harvest Partners
Harvest Partners joins existing investors TA Associates and GI Partners as institutional shareholders in MRI. At the same time, TA Associates is also making a significant new investment in the business.
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.
January 14, 2020
JetSelect Aviation sold to Jet Edge
Van Nuys, California-headquartered Jet Edge International has acquired Columbus-based JetSelect Aviation to create one of the most diverse fleets of aircraft based throughout the U.S.
January 14, 2020
Weinberg Capital Completes Exit Of AeroRepair
During Weinberg Capital's ownership, AeroRepair grew from a single facility located in New Hampshire to the largest independent wheel and brake maintenance, repair and overhaul platform in North America.
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.
January 8, 2020
M/I Homes sells Easton office building to Alterra
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 8, 2020
Park Place Technologies Buys IntelliNet’s NOC
IntelliNet's NOC is Park Place Technologies' 13th acquisition since 2016 and its first in 2020, following the 2019 acquisitions of Entuity in August and UK-based MCSA Group Limited in April.
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.
January 7, 2020
Goodyear Launches New Venture Capital Fund To Advance Future Mobility
Goodyear Tire & Rubber Co. announced a new venture capital fund, Goodyear Ventures, with $100 million targeted for new investments in future mobility solutions over the next 10 years.
January 7, 2020
MCCI Sells To Executive Team
MCCI was founded in 1993 by legendary broadcaster Mort Crim, joined by Post-Newsweek (WDIV-TV) Executive Producer and journalist Terry Oprea. Crim retired in 2008, selling the firm fully at that time to Oprea.
January 6, 2020
MAI Capital Closes Deal To Buy J.M. Hartwell
The acquisition closed on Dec. 31 and will increase MAI’s assets under management by over $640 million.
January 5, 2020
Penske Corp. Completes Deal To Buy Indianapolis Motor Speedway
Penske Corp. becomes just the fourth owner in the history of the famed Indianapolis Motor Speedway, which has hosted the world's largest single-day sporting event — the Indianapolis 500 Mile Race — for more than 100 years.
January 3, 2020
Clearcover Closes $50M Series C Funding Round
This round follows the company's $43 million Series B, which closed in January 2019, and brings Clearcover's total funding to more than $104 million since its 2016 founding.
January 2, 2020
Hyperion completes AFC Hartmetall purchase
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 24, 2019
KKR Buys OverDrive From Rakuten
New York-based buyout firm KKR has agreed to buy Cleveland-based OverDrive Inc. digital reading platform for libraries and schools from Rakuten, which bought the business in 2015.OverDrive provides a
December 24, 2019
Culligan Buying AquaVenture Holdings for $1.1B
AquaVenture offers point-of-use filtered water systems and related services, as well as desalination and wastewater treatment products to governmental, municipal, industrial and hospitality customers.
December 23, 2019
Rivian Closes $1.3B Investment Round
The financing was led by funds and accounts advised by T. Rowe Price Associates Inc. Amazon, Ford Motor Co. and funds managed by BlackRock also participated in the round.
December 23, 2019
Virginia firm purchases Chase Tower
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 19, 2019
Huron Capital-Backed High Street Insurance Partners Buys InPro
Local Deals Detroit
December 19, 2019
PolyOne Buys Clariant Color, Additive Masterbatch Business In $1.45B Deal
The combined net purchase price is $1.45 billion, representing an 11.1 times-multiple of last 12 months-adjusted EBITDA, or 7.6 times, including anticipated synergies.
December 19, 2019
Equity funding up in Detroit, Pittsburgh
Local Deals Detroit Pittsburgh PhiladelphiaDecember 18, 2019
RPM-Backed Mantrose-Haeuser Buys Profile Food Ingredients
Local Deals Chicago Cleveland
December 16, 2019
Gecko Robotics raises $40M Series B round, led by Drive Capital
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
Palumbo-Led Group Sells River North Office Building In Chicago
Local Deals Chicago
December 10, 2019
Vertiv to be publicly traded after merger
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 9, 2019
Innovation Fund NEO Awards $275K To Five Startup Companies
Founded by the Lorain County Community College Foundation, Innovation Fund awards technology-based startups up to $100,000 so they can validate their technologies and business concepts.
December 9, 2019
Baltimore-Based Axxella Buys Geneva’s SPIRE Institute
Spire is considered a world-class, mega-facility specializing in athlete training, development and competition within a wide variety of sports.
December 6, 2019
Purchase of West Virginia’s Mountaineer Casino closes
Colorado Springs-based Century Casinos Inc. has completed the acquisition of the operations of New Cumberland, West Virginia’s Mountaineer Casino, Racetrack and Resort, as well as two Missouri casinos, from Eldorado Resorts Inc. for approximately $107 million.
December 6, 2019
JLL Income Property Trust Buys AZ-Based Distribution Center In $31M Deal
Chandler Distribution Center is a 211,000-square-foot, Class A industrial asset located in the southeast submarket of Phoenix.
December 5, 2019
GM, LG Chem Form $2.3B Joint Venture In Lordstown
General Motors and LG Chem have announced plans to mass-produce battery cells for future battery-electric vehicles. Together, the companies will invest up to $2.3 billion through a new, equally owned joint venture company.
December 4, 2019
Pondera Holdings Leads $31M AutoPets Recap
The investment is intended to accelerate the company's growth, as well as provide a liquidity event to the founders of the business.
December 4, 2019
Duolingo raises $30M in Series F funding; now valued at $1.5B
Duolingo has reached a $1.5 billion valuation after closing a $30 million Series F funding round from CapitalG, Alphabet’s growth equity investment fund and an existing investor in the company. This brings Duolingo’s total venture funding to $138 million.
December 4, 2019
Covestro to buy Bayer’s Robinson campus
Covestro LLC has agreed to purchase the Bayer Corp.’s Robinson Township campus, which is home to Covestro’s U.S. headquarters. The change in ownership is planned for Dec. 31, 2020.
December 4, 2019
Aspirant buys HR Imagined
Aspirant, a Pittsburgh-based global management consulting and technology firm, has acquired HR Imagined, an outsourced HR solution organization in Pittsburgh. As part of the deal, HR Imagined President Cheryl Paxton-Hughes will join Aspirant.
December 2, 2019
Heartland Bank to buy Cincy’s Victory Community Bank
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 26, 2019
Industrial Commercial Properties Buys Former Kmart Building In Garfield Heights
The structure, with its height and column spacing, is believed to be adaptive to redevelopment. ICP plans to update the facility, including the exterior.
November 21, 2019
Dynamit merging with Virginia competitor
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
JumpStart, Rev1 receive Ohio Third Frontier funds
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 20, 2019
Rockwell Automation Building Sells For $61M
Mohr Capital, a Dallas-based, privately held real estate investment firm, has sold the 460,000-square-foot net leased office building in Mayfield Heights.
November 15, 2019
Philadelphia's Instem buys Columbus firm, Leadscope
Local Deals Philadelphia Columbus
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.
November 12, 2019
Threekit Closes $20M Series A Round
The funding round was led by Shasta Ventures. Additional investors include Salesforce Ventures, former San Francisco 49ers quarterback and Hall of Famer Steve Young, Marketo Co-Founder Phil Fernandez and serial SaaS entrepreneur Godard Abel.
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.
November 7, 2019
Atkins Cos buys West Mifflin medical office building
Atkins Companies has acquired a 26,174-square-foot medical office building in West Mifflin. The outpatient facility is fully leased by Allegheny Health Network and bolsters the New Jersey firm's portfolio in the rapidly growing Pittsburgh metropolitan area.
November 7, 2019
BGL Sells Warnock Food Products To Calbee
Local Deals Chicago Cleveland Philadelphia
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.
November 1, 2019
GT Entrepreneurs closes deal for Service-Tech Corp.
Pittsburgh’s GT Entrepreneurs has closed its third deal, as Gabriel Chick, a GTE operator-in-residence, has completed the final paperwork to acquire Service-Tech Corp., a Cleveland-based HVAC and industrial cleaning company.
October 30, 2019
Rock The House Announces Ownership Change
Rock The House Entertainment Group Inc. has new ownership with COO Ryan Konikoff acquiring the majority share of the business. Rock The House Founder and CEO Matt Radicelli will remain at the helm of the company.
October 30, 2019
Domino’s Pizza Announces Recapitalization Transaction
Domino's had global retail sales of over $13.5 billion in 2018, with nearly $6.6 billion in the U.S. and more than $6.9 billion internationally.
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.
October 29, 2019
Proper Rate Is New Joint Venture For Guaranteed Rate, @properties
The new company, which plans to launch early in 2020, intends to deliver a high-end, customer-focused retail mortgage lending experience and drive growth in select markets around the country.
October 28, 2019
Target Freight Management Buys NTS
Target Freight Management has acquired National Traffic Service Inc., a freight auditing and payment service. The strategic acquisition will better serve the end-to-end logistical needs of TFM’s less-than-truckload, full truckload and parcel freight customers throughout the U.S. and Canada.
October 24, 2019
Gabriel Performance Products Buy Deltech Portfolio
Local Deals Cleveland Pittsburgh
October 24, 2019
Falls Buys Wyse In Deal That Combines Two Cleveland Firms
Wyse, which was founded in Cleveland in 1951, will be retaining its name, but will be co-branded a Falls company. A location or locations for the new company has yet to be decided.
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.
October 21, 2019
LyGenesis Closes $4M Convertible Debt Financing
LyGenesis Inc., a Pittsburgh biotechnology company focused on organ regeneration, has completed a $4 million in private financing of convertible notes from Juvenescence Ltd. and Longevity Vision Fund. This will enable LyGenesis’s lead program in liver regeneration to transition into clinical development.
October 21, 2019
Cleveland Clinic, American Well Partner On Digital Health Joint Venture
The Clinic expects to offer online access to expert care across a wide array of specialties without requiring individuals to leave their homes.
October 18, 2019
VoIP Innovations purchased by Sangoma
Ontario-headquartered Sangoma Technologies Corp. has acquired VoIP Innovations LLC for $42 million, if certain conditions are reached. The acquisition, Sangoma’s eighth in eight years, should provide the combined company with increased scale, more recurring revenue, a new product category, robust EBITDA margins, and a new sales channel within Sangoma’s broader portfolio.
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.
October 16, 2019
Tecum Equity buys Pinnacle Cranes
Pinnacle Cranes, a Link-Belt and Manitex dealer in North Carolina and South Carolina, has been purchased by Western Allegheny Capital LLC, and Tecum Equity, a Pittsburgh-based family office investment partnership.
October 16, 2019
Perfect Home Services To Buy Able Heating & Cooling
Able Heating & Cooling owners Pete and Sherry Manthe will remain with the business for the next couple of years to ensure a smooth transition for their customers.
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.
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.
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.
October 3, 2019
Evoqua to divest Memcor product line
Evoqua Water Technologies has agreed to divest its Memcor® membrane product line to DuPont Safety & Construction. The transaction, which includes the product line’s global workforce, its manufacturing site in Windsor, Australia, associated operations and intellectual property, is expected to close by the end of 2019. The sale allows Evoqua to focus on core products and solutions.
October 1, 2019
U.S. Steel takes stake in Big River Steel
Under joint venture partnership agreement, United States Steel Corp. has taken first step toward acquiring Big River Steel, purchasing a 49.9 percent ownership interest for approximately $700 million in cash, with a call option to acquire the remaining interest within the next four years. Acquiring Big River, which operates the most advanced, state-of-the-art and sustainable mill in North America, will strengthen the Pittsburgh-headquartered company’s competitive positioning.
October 1, 2019
Golub & Co. Buys Chicago Loop Office Tower Burnham Center
Golub & Co. plans to refresh the tenant amenities, which include a fitness center, private tenant lounge, and conferencing facilities. Ground-floor retail includes a mix of national and regional tenants.
September 30, 2019
Autokiniton Completes Acquisition Of Tower International
AGG's Autokiniton US Holdings, Inc. subsidiary paid $31 a share in cash, or about $900 million after accounting for debt and pension liabilities. The deal was announced in July.
September 27, 2019
ExpressCells completes Series A round with $1.2M total raise
Local Deals PhiladelphiaSeptember 26, 2019
Project Management Institute buys FLEX from Net Objectives
Local Deals PhiladelphiaSeptember 24, 2019
Vail Resorts closes deal for 17 US ski areas
Local Deals Cleveland Columbus Philadelphia
September 24, 2019
II-VI completes Finisar purchase
II‐VI Inc., a global provider of engineered materials and optoelectronic devices, has completed its acquisition of Finisar Corp. The acquisition was first announced Nov. 9, 2018. II-VI, which is headquartered in Saxonburg, expects to achieve $150 million in run rate synergies over the next three years.
September 23, 2019
Ohio Transmission Corp buys Tennessee compressed air company
Local Deals Columbus
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.
September 19, 2019
Horizon Global Closes $233M Sale Of Asia-Pacific Business Segment
Local Deals Detroit
September 19, 2019
Taubman Centers Completes $300M Sale Of South Korean Shopping Center
Starfield Hanam is the largest Western-style shopping center in South Korea at nearly 1.7 million square feet.
September 19, 2019
Shore Capital Partners Completes Recap Of Main Street Gourmet
Local Deals Chicago Cleveland
September 18, 2019
AAM Sells Grede U.S. Casting Operations To Gamut Capital Management
American Axle & Manufacturing Holdings will sell the U.S. operations in the U.S. to funds managed by Gamut for $245 million.
September 18, 2019
NextChapter sold to Fastcase
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 18, 2019
Idelic raises $8M Series A round
Idelic, a Pittsburgh-based data and analytics startup, closed an $8 million Series A financing round, led by Chicago’s Origin Ventures with participation from TDF Ventures, Birchmere Ventures, Bain Capital Ventures and SaaS Venture Capital. Idelic will use the funds to grow its engineering and sales teams, and pave the way to release a mobile application.
September 16, 2019
Gordon Pointe to merge with Hall of Fame Village in $390M transaction
The merger is expected to produce a sports, entertainment and media enterprise surrounding the Pro Football Hall of Fame.
September 12, 2019
Hyperion to buy German-based AFC
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 12, 2019
Fair Buys Canvas From Ford Credit
Ford Motor Credit Co. The agreement furthers Fair’s leadership position in the vehicle subscription category, enabling the company to continue to accelerate consumer adoption and expansion throughout the U.S.
September 10, 2019
Kraft Heinz venture fund invests in cheese startup
New Culture, the San Francisco startup making animal-free dairy cheese, closed $3.5 million in seed round funding. The round was led by Evolv Ventures, the $100 million venture fund backed by Kraft Heinz investing in emerging tech companies transforming the food industry.
September 10, 2019
Southfield-Based e2View Inc. Raises $600,000 In Angel Funding
Local Deals Detroit
September 10, 2019
McDonald’s Invests In Voice Technology, Buys Apprente
The Apprente team will be the founding members of a new, integrated, internal group within McDonald's Global Technology team called McD Tech Labs.
September 9, 2019
NEP Group to buy Aerial Video Systems
NEP Group, a Pittsburgh-headquartered outsourced technical production partner supporting content producers of live sports and entertainment, has agreed to acquire Aerial Video Systems. The addition of AVS will complement and build upon NEP’s Broadcast Services, especially its wireless AV capabilities.
September 9, 2019
Root raises $350M in Series E funding; now valued at $3.65B
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, 2019
Alpha invests in opportunity zone near Rickenbacker
Local Deals Columbus PittsburghSeptember 6, 2019
Wind Point to buy Callery from Edgewater Capital
Local Deals Pittsburgh Chicago Cleveland
September 5, 2019
MC Group Merges With Icon
Mentor-based MC Group, which is owned by Bahrain's Arcapita, has merged with Rolling Meadows, Ill.-based Icon to form one of the largest companies in the sign industry.
September 4, 2019
SPAGIO restaurant sold
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, 2019
Boston REIT completes $90.5M of purchases in four markets
Local Deals Chicago Columbus
September 4, 2019
Safelite buys Auto Glass Specialists
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.
September 4, 2019
Novelis, Aleris deal faces challenge by U.S. Justice Department
Novelis Inc.’s deal to buy Aleris Corp. could be derailed by a lawsuit filed by the U.S. Justice Department, which is suing in order to preserve competition in the North American market for aluminum auto body sheet.
September 3, 2019
Inland Private Capital Sells Multifamily Property In $15M Deal
Local Deals Chicago
September 2, 2019
MJR Digital Cinemas Sells To European Group in $152M Deal
MJR Digital Cinemas is privately held and operates 10 movie theater complexes with a total of 164 screens, all located in Michigan. In 2018, the company drew 6.2 million visitors with total revenue of $81.2 million.
August 28, 2019
First Midwest To Buy Park Bank In $195M Deal
Park Bank is one of the largest independent commercial banks in Milwaukee with approximately $1 billion of total assets, $815 million of deposits — of which approximately 85% are core deposits — and $700 million of loans.
August 28, 2019
True North Energy buys Schmuckal Oil
Brecksville, Ohio-based True North Energy LLC has closed on the purchase of 25 convenience retailing and petroleum marketing assets from Schmuckal Oil Co. and its affiliates in the Traverse City, Mich., market.
August 27, 2019
Rubenstein Partners buys Chesterbrook Corporate Center
Philadelphia-based fund manager Rubenstein Partners has closed on its acquisition of Chesterbrook Corporate Center, a 1.1- million-square-foot, 14-building Class A office park in the Philadelphia suburb of Chesterbrook.
August 22, 2019
SpotHero Announces $50M In Series D Funding, Closing In On $1B In All-Time Sales
The company offers the largest place to buy and sell parking in North America and has helped digitize nearly 7,000 parking facilities in the U.S. and Canada.
August 22, 2019
Compass Self Storage buys Pittsburgh location
Compass Self Storage, a member of the Amsdell family of companies, has acquired Shaler Self Storage in Allison Park. This transaction marks the Cleveland company’s fourth location in the Greater Pittsburgh area and its 90th location nationwide.
August 21, 2019
BestTransport purchased by Canadian firm
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
Courtyard Columbus-Worthington sold
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 20, 2019
Avalon Precision Casting bought by Sigma Electric
Avalon Precision Casting is being acquired by Sigma Electric Manufacturing Corp., a manufacturer of ferrous and non-ferrous castings.
August 20, 2019
Bayer to sell Animal Health unit
Indiana-based Elanco Animal Health has agreed to buy Bayer AG’s animal health business in a cash and stock deal valued at $7.6 billion. The transaction creates the second largest maker of medicines for pets and livestock and falls in line with Bayer's strategy to slash debt.
August 20, 2019
PNC Mezzanine Capital recapitalizes Mountainside Fitness
PNC Mezzanine Capital recently completed a minority recapitalization of a $15 million preferred stock investment with Mountainside Fitness. PNC Mezzanine Capital and the Mountainside management team plan to continue to expand the company’s leadership position in the Arizona fitness community and beyond.
August 19, 2019
Grove City Medical Center to join AHN
Grove City Medical Center, Allegheny Health Network and Highmark Health have signed an affiliation agreement. Pending government approval of the merger, the organizations expect to close on the affiliation in the next few months, establishing Grove City as AHN’s ninth owned hospital.
August 19, 2019
Installed Building Products buys Therm-Con
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 to buy TruRoad
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 13, 2019
Level One Bancorp To Merge With Ann Arbor Bancorp In $67.8M Deal
Upon completion of the merger, the combined company will operate under the Level One name and have over $1.8 billion in assets, $1.4 billion in loans and $1.5 billion in deposits, based upon financials as of June 30.
August 12, 2019
Motus Integrated Technologies To Buy Janesville Fiber Solutions
Janesville produces high-performance engineered acoustical and thermal fiber solutions for a variety of automotive applications
August 7, 2019
Anheuser-Busch Buys Platform Beer
Anheuser-Busch InBev has acquired Cleveland-based craft brewer Platform Beer Co. Terms of the deal were not disclosed.Platform, founded by Paul Benner and Justin Carson in 2014 as a homebrew-inspired
August 5, 2019
Coeo raises angel round
Warrendale, Pennsylvania-based Coeo, which brings people and spaces together, has raised $100,100 of angel funding in the form of SAFE notes from undisclosed investors. Additionally, the company raised $30,000 of angel funding from undisclosed investors on Feb. 22, 2019.
August 2, 2019
Navigant to be bought by Guidehouse for $1.1B
Chicago-based consulting firm Navigant Consulting Inc. is set to be acquired by Guidehouse, a Washington D.C.-based management consulting firm for $1.1 billion.
August 1, 2019
ADS buys Infiltrator Water Technologies
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.
July 31, 2019
Nationwide invests in pet app VitusVet
Nationwide has made another strategic investment in VitusVet, a provider of mobile solutions for pet owners and veterinary practices. Nationwide will also serve on the VitusVet board of directors.
July 30, 2019
Parker Hannifin set to buy Exotic Metals Forming for $1.7B
Parker Hannifin Corp. is set to acquire Exotic Metals Forming Company LLC for $1.725 billion in cash.
July 30, 2019
Ford buys robotics company Quantum Signal
Ford has acquired Quantum Signal, a Saline, Michigan, mobile robotics company, which helped the military develop software that allowed it to remotely control robotic vehicles from thousands of miles away. The transaction should help advance Ford’s goal of launching a self-driving vehicle business, including software development and hardware prototyping.
July 30, 2019
Drive Capital invests in Physna
The early stage technology startup in Cincinnati completed a $6.9 million Series A round of financing led by Columbus-based Capital.
July 29, 2019
Mylan and Pfizer's Upjohn division to combine
Mylan N.V. and Pfizer Inc. have agreed to combine Mylan with Upjohn, Pfizer’s off-patent branded and generic established medicines business, creating a new global pharmaceutical company. The strategic deal puts together Mylan’s pipeline and supply chain and Upjohn’s commercial and medical infrastructure and expertise, in order to serve more than 165 markets.
July 26, 2019
Campbell reportedly selling Australian biscuit maker Arnott’s
New York private equity firm KKR & Co is reportedly closing in on a deal to acquire Australian biscuit maker Arnott's, according to The Sydney Morning Herald.
July 24, 2019
Gemphire Therapeutics merges with NeuroBo Pharmaceuticals
The merged company will take on the NeuroBo name and focus on the company’s clinical-stage drug candidates for the treatment of neurodegenerative diseases.
July 23, 2019
Vail Resorts buys 17 U.S. ski areas for $264 million
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
Huron Capital-Backed Sciens Building Solutions Buys Firm
The transaction represents the latest acquisition for Sciens since Huron Capital formed the platform in 2016 to pursue a buy-and-build investment strategy in the fire service and integrated solutions sector.
July 22, 2019
Etsy To Buy Reverb In $275M Deal
Acquiring the leading online marketplace for new, used and vintage musical instruments will enable Etsy to expand into a new vertical with a company that has a similar strategy and business model.
July 22, 2019
Westinghouse buys Canada’s NA Engineering Associates
The Canadian provider of engineering solutions has significant nuclear expertise, which will help diversify the Cranberry Township company’s engineering capabilities.
July 22, 2019
REIT buys distribution center leased to Pepsi unit
Canada's Granite REIT bought a total of three industrial properties including an 802,390-square-foot distribution center near Rickenbacker International Airport.
July 18, 2019
Look Good Brands buys Legends Boxing
The subsidiary of Canonsburg-based Deka Lash is attempting to bring together a range of beauty, health and fitness brands.
July 16, 2019
MPD Chemicals bought by Entegris Inc.
The acquisition is expected to help Entegris continue to grow and diversify its engineered materials portfolio, which was recently expanded with the acquisition of Digital Specialty Chemicals.
July 16, 2019
Lubrizol buys Bavaria Medizin Technologie
This acquisition is intended to build on Lubrizol’s expertise in precision thermoplastic extrusion and product development.
July 16, 2019
Chemical, TCF Deal Receives Regulatory Approval
The combined company is expected to have over $46 billion in total assets and be a top 10 bank in the Midwest based on deposit market share.
July 16, 2019
RoadBotics raises $7.5M Series A round
The Pittsburgh-based company, which grew out of Carnegie Mellon University research into standardizing road assessment using artificial intelligence, has raised $11.4 million over five rounds.
July 16, 2019
Built In Closes $22M Series C Funding
This is the second-largest round of funding in Chicago raised by a woman CEO leading a digital technology company, according to Pitchbook.
July 16, 2019
Middleby Buys Packaging Progressions Inc.
Packaging Progressions is a $30 million Pennsylvania-based provider of automated packaging technologies for customers in the protein and bakery segments.