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Mergers & Acquisitions

OpenLoop acquires Imaging Panda
OpenLoop Health, an online platform designed to help match healthcare providers with hospitals and other facilities that require extra staffing assistance, has announced the acquisition of Imaging Panda and the addition of a new diagnostic imaging support service.  This acquisition will allow OpenLoop to continue to expand its suite of innovative solutions and aligns with…
Propel acquires BlackGreyGold Advisory and rebrands as PropelDay
PropelDay (previously Propel), a Des Moines company that provides fractional executive services to mid-size companies and startups, has acquired BlackGreyGold Solutions, an advisory business based in Southlake, Texas. As a part of the acquisition, Barry Lingelbach and Matthew Hargrove have joined PropelDay as Managing Partners responsible for growing the company's new Fractional COO solutions. …
Viewpoint Molecular Targeting, Isoray complete merger
Viewpoint Molecular Targeting, a radiopharmaceutical company based in Coralville, last week announced the successful completion of a merger with medical technology company Isoray. Coralville, Iowa-based Viewpoint and Richland, Washington-based Isoray announced their intent to merge back in September. Having completed the merger, the combined company now has access to Isoray's radioactive isotope, cesium-131, which is…
Newly formed Ames company will bring autonomy to ag industry
Two agricultural technology companies—Redshield Electronics in Ely, Iowa and LSA Autonomy in Maryland—have merged to create MACH, a company seeking to convert farm equipment into self-driving vehicles. MACH, located in the Iowa State University Research Park in Ames, will work with equipment manufacturers to convert tractors and other farming and off-highway equipment into autonomous equipment…
Integrated DNA Technologies acquires next-gen research assays for $48 million
Integrated DNA Technologies (IDT) announced this week that that is acquiring next-generation sequencing research assays from medical genetics company Invitae for $48 million. The integration of IDT’s portfolio with the acquired research assays will empower labs with an all-in-one solution for uncovering biomarkers and advancing cancer discoveries, IDT said. An assay is a laboratory…
Heartland Express acquires CFI’s assets for $525 million
Heartland Express announced Monday the acquisition of Contract Freighters Inc.’s (CFI) truckload unit and its logistics unit in Mexico from TFI International for $525 million. The deal does not include CFI’s dedicated trucking business or its U.S. brokerage operations. The $525 million purchase is the largest in Heartland Express history, according to a news release from Heartland.…
Shive-Hattery acquires St. Louis architecture firm
Cedar Rapids-based architecture firm Shive-Hattery has acquired KdG Architects, a 20-person architecture, engineering and interior design firm in St. Louis, Missouri. The acquisition expands Shive-Hattery’s reach in the regional and national markets. Shive-Hattery is a 450-person architecture and engineering firm headquartered in Cedar Rapids with 14 design offices in Arizona, Illinois, Indiana, Iowa, Missouri, Nebraska, Ohio…
Mergers & Acquisitions Archives | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at mpatane@clayandmilk.com.
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