Acquisitions in Indiana in 2016

Torque Capital's investor group has completed the purchase of the North American and European light vehicle aftermarket business of Remy, Inc. from BorgWarner Inc., acquiring Remy's North American rotating electrical remanufacturing business, the Maval power steering business, and Remy Europe rotator remanufacturing operations. The deal creates a standalone Remy aftermarket business with David Nichols named president of the North American company.

Vocera Communications acquired Extension Healthcare in an all-cash transaction for approximately $55 million on October 27, 2016. The deal adds Extension Healthcare's Engage clinical integration and alarm-management software to Vocera's clinical communication platform to deepen interoperability with hospital systems, expand product capabilities, and create cross-selling opportunities to Vocera's and Extension's customers.

The Firefly Group and Kocolene Development Corporation acquired Dealers Building Supply, Inc., d/b/a Dealers Wholesale, a value-added distributor of doors, door hardware and fireplaces based in Indianapolis. Matrix Capital Markets Group served as exclusive advisor to Dealers Wholesale; the investment is intended to boost market penetration and expand the company's distribution capabilities.

Capital For Business, Inc. (CFB) completed the acquisition of AirWorx Construction Equipment & Supply, LLC, a distributor and lessor of new and used industrial construction and material handling equipment. CFB executed the transaction in partnership with Konza Valley Capital and MidStates Capital L.P., alongside the AirWorx management team.

Preh Group's automation subsidiary Preh IMA Automation GmbH (PIA) has acquired Evana Tool & Engineering, Inc., a turnkey provider of automation solutions based in Evansville, Indiana. The acquisition gives Preh a foothold in North America and expands its automation and systems-integration capabilities across automotive, healthcare, and industrial end markets.

Dalton Corporation, a Warsaw, Indiana foundry specializing in complex gray iron castings, was sold by Neenah Enterprises to private equity firms Beckner Clevy Partners and Speyside Equity. Cleary Gull acted as Neenah Enterprises' exclusive financial advisor; the buyers intend to leverage their industrial expertise to support Dalton's operational growth.

USI Insurance Services has acquired Forrest Sherer Insurance, Inc., a Terre Haute, Indiana-based insurance agency, from First Financial Corporation. Forrest Sherer — which provides property-casualty, employee benefits and personal risk services and will keep staff in its Terre Haute and Evansville offices — becomes part of USI as the buyer expands its presence in Indiana; terms were not disclosed.