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As you sit back and enjoy this weekend, celebrating our nation's independence, here's something to consider: June and early July have been a busy time for mergers, acquisitions and company sales in the midstate.
The first one I spied was from June 11, when Vibra Healthcare completed its acquisition of Complex Care Hospital in Idaho. We had reported in April that this acquisition was coming, but it certainly isn’t Vibra’s biggest deal recently. That honor belongs to the Cumberland County-based company’s plan to purchase 17 facilities from Kindred Healthcare Inc. for $187 million. That deal is expected to be completed through multiple closings in the third and fourth quarters this year, the company has said.
The next one I spotted was from just a day later, when H.B. McClure Co. announced it was absorbing Feaser Mechanicals’ customers. Of course, Harrisburg-based H.B. McClure, a design-build mechanical contractor, has been on a tear since April 2011, growing through acquisitions and partnerships.
Five days later, G.A. & F.C. Wagman told us it had acquired a Virginia construction firm.
Then, in an apparent pre-Independence Day rush to write news releases, we learned about three separate deals: An Allentown company acquired Lancaster County CPA firm Ledzinski & Co., American Heritage Property Management acquired Property Professionals and Graham Engineering acquired Welex Inc.
And, finally, on Wednesday we reported Target Media’s partnership buyout and executive changes.
What’s fascinating is how many industries these transactions cover. It’s not as though all of them were, for example, in the health care field, where we know mergers and partnerships are about to become the new norm. Or in construction, where rebounding from the recession has been slower going than in most other sectors.
What do you think contributed to this flurry of deals? I’m stumped.