Mergers & Acquisitions

2018

May

Steve Charlebois, the owner of Sea Dog Boating Solutions LLC, announced the purchase of assets and inventory of one of the company’s suppliers, Gadgets Unlimited Inc. Gadgets Unlimited produced three boating accessory products sold on the Sea Dog website since 2013.

Marmon Holdings Inc., a Berkshire Hathaway company, bought the assets of Sonnax Industries Inc., an employee-owned company in Bellows Falls. The new company will operate as Sonnax Transmission Co. Steve Boyer of Marmon Engine Technology becomes president of Sonnax Transmission and will work with Sonnax Industries’ CEO Tommy Harmon to ensure a smooth transition. Marmon Holdings comprises about 175 independent manufacturing and service businesses with facilities in 23 countries. Pictured are Boyer (left) and Harmon.

Trapp Family Lodge, Stowe Electric Department, and Encore Renewable Energy announced the commissioning of a 200kW roof-mounted solar array at von Trapp Brewing & Bierhall in Stowe. The electricity generated by the array will provide a clean source of electricity for Stowe Electric Department, with all renewable energy credits associated with the array’s being retired for compliance under the state of Vermont’s Renewable Energy Standard. The host and customer for the project is von Trapp Brewing & Bierhall, which will receive an up-front lease payment and net metering credits at a discount compared to face value, providing the Brewery & Bierhall with a lower-cost electricity option.

K&L Ventures LLC bought Lot 3 on Morse Drive in Georgia from Bradford Morse. Broker Esther Lotz represented Morse. Present at closing were Linda Letourneau, V/T Commercial, buyer’s broker; Curtis Swan, Union Bank; Eric Knudsen, Langrock, Sperry & Wool; Kevin Bannister, K&L Ventures; Morse; and Lotz.

Beth Robbins, Psy.D., leased office space at 125 College St., Burlington, from 125 College Street LLC. Zandra Anand of Yellow Sign Commercial represented the landlord and procured the tenant.

Dearborn Land Investments LLC bought commercial property at 823 VT Route 15, Johnson. Linda Letourneau of V/T Commercial assisted both parties.

ADJ Realty bought a commercial lot at Rye Circle in South Burlington. Jed Dousevicz of V/T Commercial represented the seller.

Plasso LLC leased a restaurant location at 831 College Parkway, Colchester, from Sisters and Brothers Investment Group LLP and will open the Burger Bar. Broker deli was the tenant’s broker consultant. Present at closing were Lotz and Kelly Bessery of Plasso LLC and wife of Bryan Bessery, the owner of Bessery’s Butcher Shoppe, who will manage the Burger Bar.

RESOURCE opened a new store at 329 Harvest Lane in Williston, the fourth location for the nonprofit, which also has locations in Barre, Hyde Park, and Burlington. The organization moved its administrative offices, select workforce development programs, and appliance repair and computer departments to the Williston location.

April

North Hartland Tool Corp. announced the expansion of its manufacturing facility to allow for new equipment and software incorporating the latest “lights out” technology. The company will increase its hours of manufacturing and workforce. The current facility will increase by 60 percent. Lowery Builders of Lebanon, New Hampshire, is overseeing the project, scheduled for completion this spring.

Fashion retailer H&M, Hennes and Mauritz Inc., has leased space at University Mall in South Burlington for its first Vermont location from KeyPoint Partners LLC. H&M will anchor the mall and anticipates opening before the 2018 holiday season. KeyPoint also announced an anchor lease with Target, also its first Vermont store, and Shoe Shoe Inc. for a Shoe Dept. Encore format store, and the expansion and relocation of Victoria’s Secret and Bath & Body Works.

Plasso LLC leased a restaurant location at 831 Roosevelt Highway, Colchester, from Sisters and Brothers Investment Group LLP and will open the Burger Bar. Broker Esther Lotz was the tenant’s broker consultant. Present at closing were Lotz and Kelly Bessery of Plasso LLC and wife of Bryan Bessery, the owner of Bessery’s Butcher Shoppe, who will manage the Burger Bar.

North River Co. bought 15.36 acres and 225,000 square feet of fully leased office space at 40 IDX Drive, South Burlington, from GE Healthcare. Tony Blake and Bill Kiendl of V/T Commercial represented the seller and assisted the purchasers. Present at closing were Blake; Chris Pachios, Jim Gaboriault, and Peter Pachios of North River; and Kiendl. In front is Charlie.

FirstLight fiber-optic bandwidth infrastructure services provider in the Northeast U.S., announced that Antin Infrastructure Partners will acquire FirstLight from Oak Hill Capital Partners IV. FirstLight has operated in Vermont for over 10 years, and acquired Sovernet Communications in 2017.

Two Roads Academy leased 3,475 square feet at 600 Blair Park in Williston from Triptik 111 Realty Partnership. Fernando Cresta of Nedde Real Estate brought the tenant, and Tony Blake of V/T Commercial worked with the landlord. Present at closing were Brandon Cooper, Katherine Lee, and Katie Palmer, Two Roads Academy; and Cresta.

Olivia’s Crouton Co. has completed a move into its newly renovated, state-of-the-art commercial bakery in Brandon. Among the features are increased capacity, a dedicated gluten-free facility that is certified organic, expanded cutting and seasoning ability, improved research and development, and co-packing and private label capabilities.

Lilly and Gene Devlin of Cornwall have bought a majority stake in Quimby Country Inc., the 125-year-old family resort and sporting camp in Averill. The Devlins will hold a 51 percent stake in the company and will be general managers for the 2018 season. Quimby Country will retain a 49 percent interest on behalf of its shareholders, most of whom are longtime guests. In the last seven years, the Devlins have run a 92-year-old summer camp in the Adirondacks.

Engineering Ventures PC has opened a New York office in Schenectady, which joins the company’s headquarters in South Burlington and an office in Lebanon, New Hampshire. Michael Dussault, P.E., will head the office. He joined the company in 2001 in the Burlington office before returning to Schenectady to work at GE Power. Engineering Ventures has 30 employees in its three offices. •

March

Open Approach, a Burlington-based full-service IT company, acquired Rail City Information Systems, an IT company in St. Albans. Scott Burleson, Rail City’s founder and president; Dale Burleson, vice president; and the RCIS technology team transferred all existing accounts and services to Open Approach’s offices at 1 Mill St. in Burlington on January 1. Scott Bernoudy, CEO of Open Approach, founded the company in 2002. The acquisition expands Open Approach’s portfolio of clients and services.

Greene Mountain Nutrition & Smoothies LLC leased space at 1860 Williston Road in South Burlington from South Burlington Realty Co. LLC. Broker Esther Lotz was the tenant’s broker consultant. Present at closing were Jolene L. Greene and Ryan P. Greene of Greene Mountain Nutrition & Smoothies; Timothy McKenzie, South Burlington Realty Co.; and Lotz. ReSOURCE announced the move of its home base from 266 Pine St., Burlington, to 329 Harvest Lane in Williston’s Taft Corners. The 36,506-square-foot space, formerly the home of Good Will, houses an expanded retail space, administrative offices, workforce development programs, and appliance repair and computer departments under one roof.

REDE LLC, also known as Surface Creations, bought a 20,000-square-foot industrial building at 93 Gonyeau Road, Milton, from Chase Properties & Development Ltd. Tony Blake of V/T Commercial assisted both parties.

Sarah Phaneuf, the owner of Slate, a home decor and lifestyle retail store, leased 3,666 square feet at 89 Church St., Burlington, from the Howard Opera House Associates. Bill Kiendl of V/3:10 PM Commercial represented the tenant, and Yves Bradley of Pomerleau Real Estate represented the landlord. Pictured are Kiendl (left), Phaneuf, and Bradley.

Webike Properties LLC bought a commercial condominium at 89 Rye Circle, South Burlington, from Rye Meadows LLC. Jed Dousevicz of V/T Commercial assisted both parties.

Cathedral Square has opened Vermont’s first memory-care residence for low-income Vermonters. Memory Care at Allen Brook is located at 99 Allen Brook Lane in Williston, the site of the former VNA Respite House. Extensive renovations created 14 homes and a safe and secure environment where residents will receive licensed, round-the-clock memory care. The $1.6 million project received $200,000 from the Hoehl Family Foundation, $100,000 from the Amy Tarrant Foundation, and $5,000 from the Fountain Fund to support the project. Additional funding came from the Vermont Community Loan Fund.

GW Plastics expanded its U.S. mold-building facility in Royalton with additive manufacturing technology. The company renovated and enhanced its state-of-the-art tooling facility and bought advanced metal 3D printing equipment to build precision mold components. The announcement came following the company’s purchase of Avenue Mould Solutions, an Ireland-based company.

Big Peel Pizza LLC, d/b/a Domino’s Pizza leased a location at 201 Cornerstone Drive in Williston from Allen Brook Development Inc. Broker Esther Lotz was the tenant’s broker consultant. Pictured are Mike Litwhiler of Big Peel Pizza, and Lotz.

John and Tina Helzer of 5573 Shelburne Rd LLC bought the former Café Shelburne property. John Beal of Vermont Business Brokers through its affiliation with V/T Commercial represented the seller.

O’Reilly & O’Reilly Business Services leased a new office location at 550 Hinesburg Road, South Burlington, from 550 Hinesburg Road LLC. Tony Blake of V/T Commercial assisted both parties.

FRG LLC purchased the business assets of Pingala Café Williston LLC and leased a new location for the restaurant at 373 Blair Park Road, Suite 101, Williston, from RGKismet LLC. Broker Esther Lotz was the buyer’s consultant. Present at closing were Lotz; Jesse Bugbee, attorney; Perry Farr, FRG; Neil Farr, FRG; Trevor Sullivan, Pingala; Sharon Gutwin, landlord; and Elizabeth Metayer, attorney.

Acadia Insurance leased 4,352 square feet at 43 Mountain View Drive, Colchester, from Park Place 2000 Associates Inc. Bill Kiendl of V/3:10 PM Commercial represented the tenant, and Steve Donahue of Donahue & Associates represented the landlord.

Vermont Pool and Bar LLC leased a new location at 35 San Remo Drive, South Burlington, from Dawson Dorset Street Properties LLC. Broker Esther Lotz was the broker consultant. Present at closing were Lotz and Terah Williams, Vermont Pool and Bar.

John Tashiro, general manager of City Market, announced that the Onion River Co-op has signed an agreement to sell 1.67 acres at 75 Briggs St., the so-called “south parcel” of its Burlington South End property, to Andrea and Steve Charest of Petra Cliffs Climbing Center & Mountaineering School. Several organizations submitted proposals in response to City Market’s RFP, which requested alignment with City Market’s Global Ends, the ability to fulfill a gap in services in the South End, and project compatibility with City Market’s neighboring retail operation and the surrounding neighborhood.

Allscripts Healthcare LLC negotiated a lease extension of 48,578 square feet at 25 Green Mountain Drive, South Burlington, with Stonehenge Investment Corp. Bill Kiendl of V/T Commercial assisted all parties.

Eastern Attorney’s Services Inc. leased 2,150 square feet at 30 Kimball Ave., South Burlington, with Kimball Partners LLC. Bill Kiendl and Tony Blake of V/T Commercial and Mike Provost of Donahue & Associates were the brokers.

Tavernier Chocolates of Brattleboro has begun moving into its newly acquired additional square footage in the Cotton Mill, doubling its production space. The new space allows multiple processes during operations. •

February

Springfield Printing Corp. has purchased Prospect Park Press of West Chesterfield, New Hampshire, from Anne and Mike Reed. Bruce Sanderson, Springfield Printing’s vice president of sales and marketing, made the announcement.

Ceres Natural Remedies moved its retail business from the Wing Building on the waterfront to 190 College St. in Burlington, across from Sweetwaters. The shop features 2,200 square feet of retail space, over four times as much as it occupied in the Wing Building, and carries an expanded inventory of more than 40 local and national brands for people and their pets. Ceres operates another store in Brattleboro.

The Burlington City Council has approved an agreement between the City of Burlington d/b/a Burlington Telecom and Blue Water Holdings LLC for the sale of Burlington Telecom to Champlain Broadband LLC, a subsidiary of Schurz Communications Inc. of Mishawaka, Indiana.

Seasons Change Property Maintenance leased space at 75 Chad Lane in Williston from 4 Chad Lane LLC. Peter Yee of Yellow Sign Commercial, helped the tenant. Present at closing were Justin Driscoll, Seasons Change; Nate Wayward, 4 Chad Lane; and Yee.

Concept Mov3 LLC leased space at 20 Wintersport Lane, Suite 155, in Williston. Broker Esther Lotz made the announcement. Present at closing were E. Lucas Zelazny, L-ATC, CEO, head athletic trainer; Dillon Bonk, CMO; and Lotz.

The Cheese Factory LLC leased a new automotive repair shop location at 61 South Oak Circle in Colchester from Allen Brook Development Inc. Broker Esther Lotz made the announcement. Pictured are Lotz and Chris Cheeseman, The Cheese Factory.

PedsOne leased 9,480 square feet at 10 East Allen St., Winooski, from Vermont Student Assistance Corp. Steve Donahue of Donahue & Associates represented both parties.

Acadia Insurance leased 4,352 square feet at 463 Mountain View in Colchester from Park Place 2000 Associates LLC. Steve Donahue of Donahue & Associates represented the landlord, and Bill Kiendl of V/T Commercial represented the tenant.

Macy’s Inc. announced the closing of its Burlington store at 67 Cherry St. as part of the 100 planned closures announced in August. Don Sinex of Rouse Properties, redeveloper of the downtown mall, will purchase the building, which will be demolished and the property incorporated into the mall redevelopment.

Japheth Brubaker, the owner of Water and Rock Studio, leased 1,000 square feet at 294 North Winooski Ave., Burlington, from Hinsdale Properties. Donahue & Associates assisted both parties.

Advantage Insurance Management (USA) LLC leased 2,500 square feet at 27 Main St., Burlington, from Battery Street Associates. Kendra Kenney of Donahue & Associates assisted the tenant, and Brad Worthen of Pomerleau Real Estate assisted the landlord. •

January

BTV Dance leased 1,400 square feet at 294 North Winooski Ave. in Burlington from Hinsdale Properties. Kendra Kenney of Donahue & Associates represented the tenant and the landlord.

Movement Mortgage leased 2,505 square feet of office space at 1889 Williston Road, South Burlington. Fernando Cresta of Nedde Real Estate represented the landlord, and Peter Yee of Yellow Sign Commercial represented the tenant. Present at closing were Jay Vallieres of Movement Mortgage and Cresta.

Vivint Solar Developer LLC leased 2,448 square feet at 372 Hurricane Lane, Williston, from Hillside Properties Inc. Linda Letourneau and Jed Dousevicz of V/T Commercial assisted the landlord.

Green Mountain Behavior Consulting leased 3,475 square feet at 600 Blair Park, Williston, from Triptik III Realty Partnership. Tony Blake of V/T Commercial represented the landlord, and Fernando Cresta of Nedde Real Estate represented the tenant.

IPNetVoice leased space at 276 East Allen St., Winooski, from Hillside Park Ltd. for its new location. Jed Dousevicz and Linda Letourneau assisted the landlord and tenant.

Motion Picture Division leased 1,000 square feet of office space, and Holly Thompson leased 800 square feet on the first floor of the Carriage House, on the property of The CC Warren House in Waterbury, from Crossroads Realty Holdings. Duncan Harris of The Kingsland Co. represented the landlord and procured the tenants.

Plaza Home Inc. leased 4,334 square feet at 89 Church St., Burlington, from Howard Opera House, and will open a home furnishings store known as Slate. Bill Kiendl of V/T Commercial represented the tenant, and Yves Bradley of Pomerleau Real Estate represented the landlord.

KPMG LLP leased 4,448 square feet at 463 Mountain View Drive, Colchester, from Park Place 2000 Associates Inc. Steve Donahue of Donahue & Associates represented the landlord, and Bill Kiendl of V/T Commercial represented the tenant.

Baltic Properties LLC bought The Tracy House at 5224 Shelburne Road in Shelburne from Tracy House Associates. Duncan Harris of The Kingsland Co. represented the seller, and Brian Boardman of Hickok and Boardman Realty represented the buyer.

Planned Parenthood of Northern New England leased 2,100 square feet of medical office space in Middlebury from Remora LLC. Duncan Harris of The Kingsland Co. represented the landlord, and David Curley of J.L. Davis Realty procured the tenant.

Fisher Auto Parts leased a 6,000-square-foot commercial building at 1232 Exchange St., Middlebury, from Max and Susan Eaton. Duncan Harris of The Kingsland Co. was responsible for procuring the tenant.

99 Court Street LLC bought a mixed-use property consisting of a medical office suite at 99 Court St., Middlebury, currently occupied by Vermont SpineWorks, and three residential apartments from Porter Real Estate Holdings Inc. Duncan Harris of The Kingsland Co. represented the seller, and Sarah Peluso of IPJ Real Estate represented the buyer.

Mary Spear-Garrow and Donald Garrow bought Vermonster’s Childcare and Preschool of Rutland from Ted and Sandy Kuc. Johnny Beal of Vermont Business Brokers represented the Kucs.

Bear and Moosh for Littles children’s clothing and toy store leased 1,100 square feet of retail space at Shelburne Square, 41 IDX Drive in South Burlington from Vermont Industrial Parks. Duncan Harris of The Kingsland Co. represented the landlord and procured the tenant.

Paul Nadeau of Anything Engraving bought ATD Signs of St. Johnsbury from Pete and Elaine Lafferriere. Johnny Beal of Vermont Business Brokers represented the Lafferrieres.

Premier Strength and Performance bought a 3,564-square-foot commercial building at 2613 Shelburne Road in Shelburne from LWV Properties LLC. Fernando Cresta of Nedde Real Estate brokered the sale. Present at closing were Cresta and Joel Besl of Premier Strength and Performance.

Quintin Brothers Collision and Classics LLC leased a location at 1889-1891 Williston Road in South Burlington. Fernando Cresta of Nedde Real Estate facilitated the lease. Present at closing were Tim Quintin, Pete Quintin, Cresta, and Randy Therrien of Quintin Brothers.

Polli East Apring LLC bought property at 110 East Spring St., Winooski, from John P. and Mary S. Wilson, Trustees. Broker Esther Lotz represented the sellers. Present at closing were Curtis Trousdale, Preferred Properties, co-listing broker; Mary Wilson; John Wilson; Steven Polli, Polli East Spring; Randy Amis, buyer’s attorney; Beth Burdick of David H. Greenberg, seller’s attorney; and Lotz.

Adam Grundt PLC, a psychology practice, leased 498 square feet in the Kilburn & Gates building in Burlington from Kilburn & Gates Industries LLC. Fernando Cresta of Nedde Real Estate procured the tenant, and Yves Bradley of Pomerleau Real Estate represented the landlord. Present at closing were Cresta and Adam Grundt, Ph.D. •