Walmart revealed plans to construct four new high-tech fulfillment centers, of which one will be located in McCordsville, Indiana. According to the US retailing giant, the new 2.2 million square-foot facility will open in spring 2023. It will generate over 1,000 new jobs in Hancock County. The Walmart fulfillment center in McCordsville will employ automation […]
Eli Lilly and Company (Lilly) said that it will invest $2.1 billion to build two new pharma manufacturing plants in Indiana, which will be located at the LEAP Lebanon Innovation and Research District in Boone County. According to the American pharma giant, the new plants will grow its manufacturing network for active ingredients and new […]
CNO Financial Group said that it has acquired a minority stake in Rialto Capital, a Florida-based real estate investment management and asset management company. The amount paid for the stake acquisition was not disclosed by CNO Financial Group, which is an Indiana-based financial services holding company. It joins Stone Point Capital-managed funds and the management […]
Concentric, a US-based DC power management and on-site maintenance provider for the material handling and critical power industries, has acquired Midwestern industrial power expert Indy Power Grid. The financial terms of the deal were not disclosed. Indy Power Grid has been providing services and supplies to sustain operations at peak performance via robust power management. […]
General Motors (GM) said that it will invest over $51 million for installing equipment at its aluminum die casting foundry in Bedford, Indiana to support the manufacturing of drive unit castings for the future Chevrolet Silverado electric vehicle (EV) and other existing casting applications. According to the American automobile giant, the all-electric Silverado, which will […]
Gener8, a portfolio company of Sverica Capital Management, has acquired the RND Group, an Indianapolis-based provider of software development focused on medical devices and life science products. The financial terms of the deal were not disclosed by Gener8, which offers turnkey design and manufacturing services. Gener8 is said to specialize in high complexity products, mainly […]
First Merchants Corporation, a financial services holding company in Central Indiana, has signed a merger deal worth around $323.5 million with Michigan-based bank holding company Level One Bancorp. Post-merger, Level One Bank, the banking subsidiary of Level One Bancorp, will merge with and into First Merchants Bank, the banking subsidiary of First Merchants Corporation. Level […]
MSI Express, an Indiana-based contract packaging and contract manufacturing firm, has acquired certain operating assets from PacMoore Products for an undisclosed price. PacMoore Products offers co-manufacturing and co-packaging services apart from food processing. The deal involves all of the contract manufacturing operations of PacMoore Products located in Hammond, Indiana. MSI Express, which is backed by […]
German American Bancorp, an Indiana-based bank holding company, has signed a merger deal worth around $154 million with Citizens Union Bancorp of Shelbyville (CUB). The deal was announced in late September 2021. Based in Kentucky, Citizens Union Bancorp of Shelbyville is the bank holding company for Citizens Union Bank of Shelbyville. The bank’s branch offices […]
Benson Hill, a US-based food technology company, has completed its previously announced acquisition of a soybean crushing facility in Indiana, located at Seymour, from Rose Acre Farms. The financial terms of the deal were not disclosed. Benson Hill has developed a food innovation engine called CropOS platform that combines data science and machine learning with […]