Mergers & Acquisitions
Because of the special issue, there were no Mergers & Acquisitions published in the August 2014 issue.
The Hilton Burlington announced the completion of its multimillion dollar transformation, featuring an all-new restaurant and lounge, lakeside patio, executive lounge, and refreshed meeting space. The Mounted Cat restaurant and lounge offers farm-fresh cuisine and bicycle-friendly amenities. The executive lounge for Hilton HHonors Gold and Diamond members features a dining buffet with complimentary breakfast and light bites throughout the day and evening, a salon lounge, and computer work sections wired for connectivity and Wi-Fi. The enhanced meeting space boasts Lake Champlain views and over 16,000 square feet of flexible space for meetings, conferences, and special events. Each of the 258 guest rooms is furnished with upscale beds, mattresses, and down duvets plus in-room coffee systems with Lavazza coffee and Cuisinart coffeemakers. Wired and wireless high-speed Internet access is throughout the hotel.
D.H. Cameron Construction Inc. leased an office at 875 Roosevelt Highway, Suite 220, Colchester, from Lee Moffitt and William Desautels. Broker Esther Lotz was the listing agent. Present were: Jessica Cameron, leasing agent, Redstone; Dan Cameron, Cameron Construction; Moffitt; and Lotz.
Steve Brown leased office space at the Chace Mill in Burlington from Catamount Holding Co. Chris Sherman of V/T Commercial assisted the tenant, and Linda I. Letourneau of Redstone represented the landlord.
Richard Brandt, dba Pacific Rim Cafe LLC, sold a restaurant business at 161 Church St., Burlington, to Omon Jilandham, dba Royal Dragon. Brad Worthen of V/T Commercial represented Brandt, and Ben Avery of KW Commercial represented the buyer.
BRGR LLC bought Three Tomatoes Restaurant in Williston from North Bridgewaters Venture LLC. A restaurant featuring classic American dishes will open in late summer. Bill Kiendl of V/T Commercial represented the seller.
Furst Management Venture LLC bought the building at 156 Church St., Burlington, from Sarah Cardinal Holdings. A complete renovation of the upper two floors is planned. The ground floor tenant, Church & Main restaurant, will remain. Tony Blake of V/T Commercial represented the buyer.
Thomas Chadwick bought a 1,750-square-foot commercial condominium at 131 Main St., Burlington, from Anne Mueller, dba the System Doctor. Brad Worthen of V/T Commercial represented the seller, and Mike Preseau of Keller Williams represented the buyer.
Beecher Carlson has renewed its lease and expanded its space at the Smith Building in Burlington with the landlord, Misty Meadows Farms Inc. Jed Dousevicz of V/T Commercial assisted all parties.
Four Quarters Brewing Co. leased space at 150 West Canal St., Suite 1, in Winooski from W.J. Fastiggi LLC. Federal and state licenses are in place. Brian Eckert, Four Quarters’ owner and brewer, plans to open his brew house and taproom in the fall. Broker Esther Lotz made the announcement. Present were: Eckert and Bill Fastiggi, landlord.
Vermont Counseling and Trauma Services leased 1,600 square feet at 600 Blair Park, Williston, from Triptik III Realty Partnership. Tony Blake of V/T Commercial represented the landlord, and Meg McGovern of Donahue & Associates represented the tenant.
Xanterra Parks & Resorts has acquired Waterbury international walking tour operator CW Adventures, formerly known as Country Walkers. The 35-year-old company provides over 130 active, immersive travel vacations on five continents. CW was recently a division of PEAK Adventure Travel Group. Xanterra has expanded its offerings in recent years through several acquisitions, including Vermont’s VBT Bicycling and Walking Vacations in December 2012.
The Hilton Burlington’s new executive lounge features three distinct areas: a dining buffet, salon lounge, and computer work section. The furniture is custom-designed, showcasing fabric sofas with leather inserts. The centerpiece of the salon is an oversized farmhouse fireplace with a mantel of Vermont slate and white panel millwork above the hearth. All light fixtures were custom-designed by the artisans at Hubbardton Forge. Executives have access to several computer stations or can set up at a floating counter wired for connectivity and Wi-Fi.
StepStone Hospitality announced the acquisition of the Hampton Inn Burlington as part of a joint-venture partnership. StepStone is a Rhode Island–based hospitality management company specializing in hotel and restaurant operations. An extensive renovation is planned for late this year, to include modernized bathrooms, movable desks and ottomans, upgraded furnishings, streamlined furniture, mini-fridges, and wire baskets for storage.
Brandthropology announced the creation of “The Benefactory,” a tech and arts hive that will host, within the firm’s offices in the Soda Plant on Pine Street in Burlington, various groups that benefit the community. The announcement was made by Matthew Dodds, “chief Brandthropologist” and the company’s founder. Current tenants include Laboratory B and the Vermont Technology Alliance.
Cedar Wood Natural Health Center PC leased 3,800 square feet of space at 20 Joy Drive in South Burlington from Twenty Joy Drive Associates LLC. Linda I. Letourneau of Redstone was the listing broker, and broker Esther Lotz represented the tenant, Suzy Harris, the owner and senior clinician of Cedar Wood. The property is managed by Kelly Conchieri. Present were Letourneau, Conchieri, Harris, and Lotz.
Green Mountain Camera announced plans to expand operations in Chittenden County with new administrative offices, warehousing, and distribution in Winooski. The warehousing and administrative center will enable the company to expand its online business, which has grown substantially. Green Mountain Camera’s offices are currently co-located with the Waterbury Center retail store, which the company closed on June 1. The South Burlington store will continue to provide retail sales to local as well as regional customers, in person or via online ordering and shipping. Green Mountain Camera worked with Catamount East Development Co. of Winooski to find the location at 450 Weaver St.
Circus Smirkus announced its purchase of a 135-year-old farmhouse and barn on 35 acres in Greensboro, with plans to build a permanent home for the Smirkus Camp. When remodeling and construction are completed, the summer camp will house 600 campers each summer. The property overlooks Caspian Lake and has views of nearby Stannard Mountain. The existing farmhouse will house administration, and the antique post-and-beam barn will become a dining hall and gathering area for activities. New dormitories will be arranged in a circle.
Darrel Depot, the owner of PuroClean Managed Services, announced the acquisition of S.B. Farley, calling it “a strategic move within its market of fire and water damage restoration and expanding its growing customer base.” The acquisition has added carpet and dryer vent cleaning services.
Infrared Analyzers Inc. leased an office at 147 Allenbrook Road in Williston from Black Dog Holdings LLC. Broker Esther Lotz made the announcement. Present were Mary Linterman, Black Dog Holdings; Peter Brooks, Infrared; and Lotz.
Tasha Wallis, executive director of the Vermont Retail Association, and Jim Harrison, president of the Vermont Grocers Association, announced that their groups will merge into a single entity, the Vermont Retail and Grocers Association. Over a year in planning, the merger was approved by the boards and members of both organizations. Memberships from both organizations will be transferred to the new association with no change or interruption of services or benefits. Wallis has stepped down, and Harrison, who has been with VGA since 1987, has become VRGA’s president.
FirstLight Fiber Data Center announced the expansion of its Williston facility, the second phase of a multi-phased plan to make it available for additional customers.
Lone Oak-Essex LLC, dba Reinhart Foodservice, bought a 21.02-acre commercial land parcel at 32 Thompson Drive in Essex from Saxon Hill Corp. Reinhart is erecting a 137,361-square-foot industrial building on the site. Rick Harrison of J.L. Davis Realty represented the buyer.
International Business Machines Corp. sold a 5.58-acre commercial land parcel at 145 Maple St., Essex Junction, to the Town of Essex for a new Police Department headquarters. The 18,000-square-foot building is under construction. Rick Harrison of J.L. Davis Realty represented IBM.
Red Thread Spaces LLC leased a 3,989-square-foot office and showroom space at 180 Battery St., Burlington, from Investors Corporation of Vermont. Rick Harrison of J.L. Davis Realty represented Red Thread, and Barbara Surprenant represented ICV. Red Thread also leased a 4,452-square-foot warehouse space at 301 Avenue D, Suite 15, Williston, from R.E.M. Development Co.. Harrison represented Red Thread, and Stephanie Miller Reiskin represented R.E.M.
The U.S. Postal Service entered into a long-term lease renewal at its current location at 205 Bridge St., Richmond, with the Town of Richmond. Rick Harrison of J.L. Davis Realty represented the USPS.
Better Living Communications leased 1,244 square feet of medical office space at 54 West Twin Oaks Terrace, South Burlington, from One Twin Oaks Associates. Rick Harrison of .L. Davis Realty represented the tenant.
Richard Electric Inc. leased a 1,200-square-foot commercial building at 3099 Williston Road, South Burlington, from Hennigar Holdings LLC. Rick Harrison of J.L. Davis Realty represented the tenant, and broker Esther Lotz represented the landlord.
Precyse Solutions leased 2,150 square feet at 30 Kimball Ave., South Burlington from Kimball Partners. Tony Blake of V/T Commercial assisted both parties.
CHA Consulting, a national engineering firm, leased 3,166 square feet at 38 Eastwood Drive, South Burlington, from Sixty Farrell Street Associates. Tony Blake of V/T Commercial represented the tenant, and Linda I. Letourneau of Redstone represented the landlord.
Furst Management Ventures acquired the former Burger King property at 1200 Williston Road, South Burlington, from TD Bank, Trustee of the Beatrice A. Rorris Revocable Trust. The building will be completely renovated and available for lease. Tony Blake of V/T Commercial represented the seller of the property and assisted both parties.
Agape Community Church leased space on the third floor of 115 College St., Burlington, from One Hundred Twenty Five College LLC. Bill Kiendl of V/T Commercial assisted both parties.
Wyatt Investment Research leased 3,276 square feet of office space at 600 Blair Park, Williston, from Triptik III Realty Partnership. Tony Blake of V/T Commercial represented the landlord, and Ross Montgomery of Redstone represented the tenant.
Peterson Consulting Inc. leased 850 square feet of office space at 77 College St., Studio 3-D, Burlington, from Box 77 LLC. Anthony Shaw of Queen City Real Estate assisted both parties. Present were Tom Peterson, PCI, and Shaw.
Mary Sawabini of Ferrisburgh is now the owner of Sawabini & Associates LLC, a company that provides video camcorder training to law enforcement professionals across North America and around the world. She has been involved in all levels of the company since its inception in 1991. She has a bachelor of arts in anthropology from Case Western Reserve University in Cleveland and a master of education in counseling from the University of Vermont.
Tilt LLC leased 2,700 square feet of retail space in South Burlington from C.H. Partners LLC to open a classic arcade and alehouse. Peter Yee of Yellow Sign Commercial represented the landlord and procured the tenant. Present were Thom Dodge of Tilt, Yee, and Jim Carroll of C.H. Partners.
Prime Construction Co. Inc., dba Prime Renovation Group, has leased a new location at 210 Pioneer Drive, Williston, from LNP Inc. Broker Esther Lotz was the leasing agent, and Nicole Senecal of Omega Realty was the listing agent. Present were Sam Gervais, Prime Construction; Lotz; Mike Gervais, Prime Construction; Al Senecal, LNP; and Nicole Senecal.
Sally Elkins, the owner of Shelburne Eyeworks, announced the sale of her business to employees Greg and Sheila Guilmartin. Both licensed opticians, the Guilmartins plan to add product lines and American-made frame collections and enhance the company’s Web presence. Business broker Lynne Silva of The Silva Group facilitated the transition.
Revision Military, a manufacturer of protective soldier solutions, has acquired Panacis, an Ottawa-based company that focuses on lithium ion rechargeable energy storage systems. Revision has collaborated with Panacis on several projects. The announcement was made by Jonathan Blanshay, CEO of Revision, and Steve Carkner, founder and CTO of Panacis. TYhe energy solutions team will continue to operate from Ottawa.
JJC LLC bought a 4,000-square-foot retail/storefront building at 60-68 Federal St., St. Albans, from Maynard Auto Supply Inc. Linda I. Letourneau of Redstone was the listing and selling broker.
KLR Enterprises bought Jeff’s Maine Seafood restaurant at 65 North Main St., St. Albans, from Wild West Enterprises. Tony Blake of V/T Commercial assisted all parties.
PT 360 leased 4,748 square feet of space at Shelburne Green from Shelburne Green LLC for a third location. Mike Provost of Donahue & Associates assisted both tenant and landlord. The space contains a full-service physical therapy clinic including a salt water therapy pool Present were Provost; Julie Clayton, Erin Miceli Adams, and Mary Steiger, owners of PT 360; and Graham Goldsmith Jr., landlord.
Addison Respite Care Home Ltd. announced the opening of The Addison Room, the third end-of-life-care suite at Helen Porter Healthcare and Rehabilitation Center in Middlebury. The rooms, funded by ARCH, offer a home-like setting for care.
A.M. Peisch & Co. LLP announced the acquisition of the public accounting practice Cota CPA PC, which was established in 1983 by Raymond S. Cota, CPA. Cota will work from A.M. Peisch’s office in Colchester. He is licensed in Vermont, New Hampshire, and New York. Justin Wolcott also joined A.M. Peisch as senior accountant. He worked for Cota from 2006, when he received his bachelor of science in accounting and business administration from Plattsburgh State University.
RE/MAX Winning Advantage in Rutland acquired Century 21 Premiere Properties, also in Rutland. The franchise name will change to RE/MAX Premiere Properties and open its doors at 210 South Main St. The acquisition will give the company the Number 1 market share by volume and units in Rutland County. The broker/owner of RE/MAX Premiere Properties is Ed Patch.
The Green Life leased 1,800 square feet of retail space at 151 Cherry St., Burlington, from Quinn Properties LLC. Anthony Shaw of Queen City Real Estate represented the tenant, and Yves Bradley of Pomerleau represented the landlord. Present were Shaw and Mike Hassenberg of The Green Life.
Juliette and Tim Britton announced the reopening of J.J. Hapgood General Store in Peru after it had been shuttered for nearly five years. The Brittons moved back to Peru from Boston about 10 years ago to start a family. They bought and completely rebuilt the store, which now includes a hand-built wood oven by artisan Peter Moore, tables and benches made from local sugar maple, and custom cabinets designed by local artists. J.J. Hapgood offers a community event space, plus organic Vermont Coffee; penny candy; and maple syrup, cheeses, meats, and produce from local farms. Vermont-brewed Aqua Vitea kombucha and local craft beers are on tap. The wood-fired eatery will be managed by Albert Sabatini, a farmer and chef from Pendle Hill in Pennsylvania.
Richard Electric Inc. leased a new location at 3099 Williston Road, South Burlington, from Hennigar Holdings LLC. Broker Esther Lotz was the listing agent. Present were Lotz; Brian Richards, Richard Electric; Curt Hennigar and Matt Hennigar of Hennigar Holdings.
Community Mutual Insurance Co. of East Schodack, N.Y., announced its affiliation with Union Mutual of Vermont Companies. Union Mutual’s A.M. Best Co. rating of A Minus Stable has been extended to Community Mutual. Michael Nobles, Union’s chief operating officer, has become CEO of Community. Thomas White, president of Community Mutual, will remain in that capacity. Other officers of Community Mutual under the affiliation are Jennifer Galfetti, treasurer, and Lisa Keysar, secretary.
Saslow Lufkin & Buggy, a certified public accounting firm, leased 5,700 square feet at 40 Main St., Burlington, from Investors Corporation of Vermont. Tony Blake of V/T Commercial acted as tenant representative.
Libra Health Enterprises leased 2,725 square feet at 126 College St., Burlington, from Investors Corporation of Vermont. Libra has opened a spinning studio and raw juicery and smoothie bar. Tony Blake of V/T Commercial announced the transaction.
Wellness Collective leased office space at the Maltex Building, 431 Pine St., Burlington. Jed Dousevicz of V/T Commercial represented the tenant, and Yves Bradley of Pomerleau Real Estate represented the landlord.
Gannett Vermont Publishing (Burlington Free Press) leased 15,280 square feet at 100 Bank St., Burlington, from MP Properties. Bill Kiendl of V/T Commercial assisted both parties.
SSG Advisors leased 4,154 square feet of office space at the Chace Mill, One Mill St., Burlington, from Catamount Holding Co. Bill Kiendl of V/T Commercial represented the tenant, and Linda I. Letourneau of Redstone represented the landlord.
White + Burke Real Estate Advisors leased 3,388 square feet of office space at 40 College St., Burlington, from Milot Properties. Bill Kiendl of V/T Commercial assisted both parties.
New England Federal Credit Union announced the opening of its new, state-of-the-art St. Albans branch at 295 Tuckers Way. Construction began on May 10, when representatives from NEFCU and Bread Loaf Construction Co. broke ground. Services at the full-service facility include tellers; consumer, mortgage, and commercial lending; deposit accounts and services; three drive-up lanes with two tellers and an ATM; insurance and investment services; a walk-up ATM, and a member self-service area.
Don Weston bought the property at 52-56 Williston Road from Greg Alling and Danielle Hogan. Jed Dousevicz of V/T Commercial and Brad Dousevicz of Dousevicz Real Estate represented the sellers. Present were Jed Dousevicz and Greg Alling.
DW Properties LLC bought a 16,943-square-foot commercial office building at 212 Battery St., Burlington, from 130 South Willard Street Partnership. Bill Kiendl and Tony Blake of V/T Commercial assisted all parties.
Dealer.com and Dealertrack Technologies announced a definitive agreement for Dealertrack to acquire Dealer.com. Under the agreement, Dealertrack will acquire all the equity of Dealer.com for approximately 8.7 million shares of Dealertrack’s common stock and $620 million in cash, subject to customary post-closing adjustments. The deal is expected to close in the first quarter of 2014, subject to regulatory approval. Dealertrack, based in Lake Success, N.Y., delivers intuitive, Web-based software solutions and services for management, inventory, sales and finance, interactive, and registration and titling for automotive retailers. Upon closing, Rick Gibbs, chief executive officer of Dealer.com, will become executive vice president and group president of Dealertrack’s digital marketing solution team.
A&D Investments LLC bought 2.39 acres of industrial land at 5256 Williston Road in Williston from Alling-Hogan. NBT Bank of Burlington financed the transaction. Broker Esther Lotz represented the buyer. Present were Don Weston, A&D Investments; Dan Johnson of NBT Bank; and Lotz.
Bill Orleans, the owner of PP&D, announced the acquisition of 19 brochure distribution locations, including the staffed kiosk on the Church Street Marketplace in Burlington, and five Lake Champlain Ferry docks in Vermont and New York from Brant Dinkin, the owner of the Information Gallery and Blue Map. Kit Antinozzi is now PP&D’s sales director; Chuck Conn will deliver brochures; and George Commo and his staff will still be at the Church Street information booth.
JKDA Properties LLC bought a commercial office condominium at Unit #22, Essex Towne Marketplace, Essex, from DK Properties LLC. Broker Esther Lotz represented the seller. Present were Don Tougas, DK Properties; Zach Chambers, JKDZ Properties; and Dolma Bhutia, JKDZ Properties.
Data Innovations LLC acquired the assets of Dawning Technologies Inc., a supplier of connectivity solutions to the clinical laboratory market with headquarters in Fort Myers, Fla. The purchase expands Data Innovations’ existing offerings to better serve the needs of clinical and physician-office laboratories.