Archive for the 'Mergers & acquisitions' Category
- October
- 9
USI Holdings Corp. said it has agreed to acquire Jericho, Long Island-based Armitage & Co., a provider of property, casualty and other insurance products and services.
Terms of the deal weren’t disclosed, but the Briarcliff Manor-based company said it expects the acquisition to add about $2.5 million to annual revenues.
Armitage will be combined with USI’s existing Woodbury office, USI said.
Posted by David Schepp on Tuesday, October 9th, 2007 at 5:36 pm |
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- September
- 12
Shleppers Moving & Storage, a residential and commercial moving company based in Elmsford, recently acquired Elmsford-based Royal Moving Systems, Inc., a full service residential and commercial moving company, and Miracle Moving, a high-end company based in New York City.
Allen Golan, who was president of Royal, was named chief operating officer of Shleppers, and Nissim Knafo, founder and former chief executive officer of Miracle, is now senior relocation consultant.
“Royal’s systematic approach to organization and transportation and its strong customer focus will enable our expanded company to offer a broader range of moving services to the Westchester market,� said Shleppers President Louisa Benjamin-Bohm, a Harrison resident who founded the company in 1978. “Miracle adds expertise in white glove and intricate moves for design professionals.�
Posted by Alison Bert on Wednesday, September 12th, 2007 at 1:30 pm |
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- September
- 12
Fortistar LLC, based in White Plains, announced that it has acquired Minnesota Methane LLC and United Gasco LLC from TD Banknorth NA. The portfolio includes 15 landfill gas-to-energy projects located mainly in California, the Midwest and the Northeast. The price of the transaction was not disclosed.
Fortistar takes landfill gas, which is methane, and converts it to electricity or heating gas. Fortistar Methane Group now owns 43 facilities with 210 megawatts of generating capacity and four facilities that sell landfill gas to commercial customers for building heat. It has plans to complete $100 million of expansions over the next several years, the company said. Its other holdings include Gas Recovery Systems LLC, Gas Recovery Services of Illinois LLC and other natural gas and bio-mass generating facilities in New York and California.
“We are committed to being the premier company in the landfill gas-to-energy industry,� Fortistar Methane Group President Tom Gesicki said in a written statement.
Posted by Alison Bert on Wednesday, September 12th, 2007 at 1:14 pm |
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- September
- 5
A European generic drug subsidiary of Barr Pharmaceuticals Inc. will purchase O.R.C.A.pharm GmbH, a private German specialty drug company, for $28.7 million, plus up to $17.8 million more if profitability milestones are met this year and next.
O.R.C.A.pharm specializes in drugs for the oncology market in Germany. Its buyer is Zagreb, Croatia-based PLIVA, which Barr acquired last fall.
Barr, a maker of generic and specialty drugs, became the third-largest generic drugmaker in the world with the PLIVA acquisition. Barr has research operations in Pomona.
Posted by Jerry Gleeson on Wednesday, September 5th, 2007 at 5:59 pm |
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- August
- 30
National Home Health Care Corp., the Scarsdale home health-care company that is being acquired by Angelo Gordon & Co., said today the merger won’t be completed next month, as anticipated.
National Home said it agreed to extend the termination date of its merger with the Manhattan investment bank to Nov. 21 to allow additional time for state Department of Health approval.
The extension may result in an increase of 10 cents a share in its quarterly dividend payment, raising it to 17.5 cents a share, National Home said.
Shares of the provider of home health care and staffing services were higher by 18 cents in mid-afternoon trading to $12.45 a share.
Posted by David Schepp on Thursday, August 30th, 2007 at 2:37 pm |
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- August
- 3
IBM Corp., whose ThinkPad laptops were first used by astronauts aboard the space shuttle in 1993, is once again seeing its technology flying into space. The Armonk-based computer giant said yesterday that NASA’s Phoenix Mars Lander is outfitted with computer chips based on IBM’s Power architecture. The “brains� of the spacecraft use the same underlying IBM technology that’s in game consoles like the Xbox, 50 percent of cars and more than half of the world’s fastest computers. IBM licensed its Power technology to BAE Systems, which built the radiation-hardened RAD6000 computer inside the lander. The Phoenix Mars Lander is scheduled for takeoff today from Cape Canaveral Air Force Station in Florida.
In other IBM news, Big Blue said yesterday that it will buy Princeton Softech Inc., a private company based in Princeton, N.J. The company, which has 220 employees, makes data-management software. Terms of the deal, which is expected to close this year, were not disclosed.
Posted by Julie Moran Alterio on Friday, August 3rd, 2007 at 6:32 pm |
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- August
- 1
Prudential Rand Realty announced yesterday that it has acquired Michael A. Gibbons Realty Inc. in Dobbs Ferry.
“We are building a formidable presence in the river towns and Michael and his associates are a great addition to our sales force there,� Arlyne Ashkinos, vice president of Prudential Rand Realty, said in a statement.
Prudential Rand, based in New City, has 21 offices in the Hudson Valley, including riverfront locations in Yonkers, Tarrytown, Nyack and Stony Point.
Gibbons, a former U.S. Marine, opened his own firm in 2000. Gibbons and eight of his sales associates have joined Prudential Rand in their new Dobbs Ferry location on 108 Main St. The phone number is 914-693-2224.
Posted by Alison Bert on Wednesday, August 1st, 2007 at 4:09 pm |
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- July
- 16
Ridgewood Savings Bank announced today that it has completed its $119 million acquisition of City & Suburban Financial Corp. and its subsidiary, City & Suburban Federal Savings Bank, based in Yonkers.
With the purchase completed, Queens-based Ridgewood said it now has some $4.1 billion in assets, $2.5 billion in loans and $3.2 billion in deposits and has expanded its presence to 35 branches in seven counties that include three in Westchester: Bronxville, New Rochelle and Yonkers.
The transaction added 12 branches and about $678 million in assets, $480 million in loans and $580 million in deposits based on June 30 financial data, Ridgewood said.
“The culmination of this strategic acquisition marks an important beginning for the expanded footprint of Ridgewood Savings Bank, which will now feature a significantly increased presence in the Bronx as well as entry into Westchester County and Manhattan,� said William C. McGarry, Ridgewood’s chairman, president and chief executive.
Posted by David Schepp on Monday, July 16th, 2007 at 1:07 pm |
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- June
- 21
Domain Home, an upscale furniture retailer with a location in Hartsdale, has been acquired by Synergy Enterprises LLC, a New Jersey-based private investment firm, Synergy announced today. Synergy purchased the Norwood, Mass.-based retailer from Aga Foodservice Group, a kitchen products company based in the United Kingdom. As part of the agreement, Aga will retain a 15 percent equity interest in Domain Home, and Domain’s founder and chief executive, Judy George, will remain in her position, Synergy said. Domain Home has 27 stores in the Northeast and employs 264 people.
Posted by Alison Bert on Thursday, June 21st, 2007 at 10:58 pm |
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- June
- 18
National Home Health Care Corp., the Scarsdale-based home health-care provider that has been the subject of a bidding war, reported today that its shareholders have approved a merger agreement with Angelo Gordon & Co., an investment bank based in Manhattan.
NHHC’s shareholders will be entitled to $12.75 per share. The transaction is expected to be completed by Sept. 10.
Angelo Gordon has agreed to the settlement of a class-action lawsuit in exchange for the payment of an additional 10 cents a share to NHHC shareholders. The suit was filed earlier this year in response to NHHC’s original intention to accept an offer of $11.35 to $11.50 a share.
The other potential buyer was Premier Home Health Care Services Inc. of White Plains. Premier and Angelo Gordon have been submitting competing offers to buy the company since last fall.
Posted by Alison Bert on Monday, June 18th, 2007 at 4:12 pm |
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