Mergers & Acquisitions

1998

December

PP? Brochure Distribution of Burlington acquired more than 50 ArkMont Brochure Display racks in Brandon, Bristol, Fair Haven, Ferrisburgh, Lake Bomoseen, Middlebury, Pittsford, Shoreham, and Vergennes from ArkMont founders Bette and Pete Horton. The Hortons are moving to Nashville, Tenn., to join their son in a family business. PP?, owned by Bill Orleans, owns more than 500 racks in Vermont.

Heritage Ford sold two acres of land to IDX Systems Corp. in South Burlington. Steve Donahue of Redstone Commercial Group in Burlington was the selling broker.

Bill and Tim O'Brien purchased three multi-family properties in Burlington's Hill Section from Daniel Mahoney and Richard Navin of Hole-In-Three Partnership. Eric Farrell of Redstone Commercial Group in Burlington was the listing and selling broker, representing the seller. Will MacKinnon of the Howard Bank provided financing for the $1.2 million transaction.

Larry Williams of Redstone Commercial Group in Burlington was the selling broker of 3.95 acres of land in Milton to Graham Moving & Storage. Dave Kelley of Highpoint Realty was the listing broker.

Staige Davis, president of Lang Associates Realtors, announced his company has merged with Smith Bell Real Estate. Smith Bell remains at 112 Lake St., Burlington. It has become the fifth Lang Associates office.

November

Factory Point Bank in Manchester sold the Inn at Weston on Vermont 100 to Steve and Lauren Bryant formerly of Miami, Fla. The Bryants are renovating the inn's guest rooms and public areas. Hospitality business brokerage The Hearthside Group in Burlington announced the sale.

Bill and Ann Marvin have sold the franchise Manpower of Manchester Inc. and Manpower of Vermont Inc. to the corporate headquarters of staffing services firm Manpower Inc. in Milwaukee, Wis. The operation includes offices in Burlington and five New Hampshire cities. Bill Marvin will continue his 25-year association with Manpower in a redefined capacity.

Rite Aid purchased 1.7 acres of land at the corner of Flynn Avenue and Shelburne Road in Burlington. The company will build a store on the site. Tim Burke, vice president of David G. White & Associates Inc. in Burlington, represented Rite Aid in the purchase. David G. White & Associates helped bring Chittenden County's other two Rite Aid stores to the area.

Ruth and Steve Lacey sold the 16-room Waitsfield Inn on Vermont 100 to Jim and Pat Masson formerly of Houston, Texas. The Hearthside Group in Burlington announced the sale.

Cavendish landscape architecture firm The Cavendish Partnership has merged with Dufresne-Henry Inc., a consulting engineering company with headquarters in North Springfield. Partnership founders and former Dufresne-Henry employees Stephen P.C. Plunkard and Peter D. Bourgois and their Vermont staff operate from the North Springfield office as The Cavendish Partnership, a division of Dufresne-Henry. A third partnership principal, Donald P. Naetzker II, continues to manage the new division's Rochester, N.Y., office. Dufresne-Henry maintains offices in nearly a dozen cities, including Montpelier and South Burlington.

The Bank of Woodstock sold Sam Ruperts Restaurant in Warren to Joel Adams and Christopher Jones. Jones will manage the establishment. The Hearthside Group in Burlington announced the sale.

John A. Lamson, RPA, has retired and sold his South Burlington public accountancy firm, John A. Lamson & Associates Inc., to Linda J. Hausermann, CPA. The firm specializes in income tax services for individuals and businesses as well as small business consulting. Hausermann has more than 20 years of accounting experience, and has worked in the practice since 1996.

October

Doug Nedde of Redstone Commercial Group in Burlington was the selling broker representing the buyer, Pomeroy Associates LLC, David Fassler, in the purchase of a historic multi-tenant office building at 166 Battery St., Burlington. The listing broker was Larry Williams of Redstone Commercial, who represented the previous owner, Waterfront Co. Redstone Commercial will manage the property.

Debbie DeCell is the new owner of Plant Lady Interiorscapes LLC at 209 Pearl St. in Essex Junction. The business specializes in interior plantings and flowers in restaurants, banks, professional offices, industrial plants, hotels and retail shops, and offers monthly plant maintenance service. (802) 879-6851.

September

Mindy and Kyle Deibler bought North Avenue News from Anne Brown, who owned the paper for four years. (802) 863-8425. noavnews@aol.com.

Lionheart Technologies Inc. in Nevada purchased Kontron Instrument Group's bioanalytical division. The new business operates under the name Bio-Tek Kontron Instruments. Lionheart also owns Bio-Tek Instruments Inc. in Winooski.

Vermont Floral bought the former Ouellette Plumbing and Heating building at 668 Pine St., Burlington, to increase its production capacity and streamline order fulfillment. Tom Crowley is the owner. The purchase was facilitated in part by a loan from Burlington's Community and Economic Development Office.

Lake Champlain International and the Lake Champlain Basin Science Center announced the merger of Lake Champlain Aquarium at the King Street ferry dock into the science center facility at the Burlington Community Boathouse.

Jim Lampman, president of Lake Champlain Chocolates, bought the former George Little Press building at 750 Pine St. for $1.01 million. The company will grow from 13,000 to 20,000 square feet when it moves in this fall following renovations. Doug Nedde of Redstone Commercial Group represented the buyer. Dick Mackenzie of Hickok & Boardman was the listing broker. The purchase was facilitated in part by a loan from Burlington's Community and Economic Development Office.

August

Richard Leonard and Peggy Emerson acquired Hair in Mind, a beauty salon at 49 Middle Road in Milton, from Philip and Ethel Brousseau, who now rents a chair at the salon.

Hitech Development has purchased an industrial lot in Catamount Industrial Park in Milton. The company will construct and lease approximately 20,000 square feet of commercial space to electronic equipment manufacturer Ascension Technology Corp. Mark Thibeault of Neville Companies assisted Hitech Development and Greater Burlington Industrial Corp. with the sale.

William J. Maris, president/CEO of Burlee Networks of Burlington, announced the company acquired Vermont Web hosting companies Surf Vermont and USA-Ads. Burlee Networks provides Web design, marketing and hosting services.

July

Damon Brink, Daren Cassani and Scott LeCours of Top Hat Entertainment DJ Co. have teamed with Martti Matheson of Select Vermont/Falling Leaf to purchase and manage Rasputin's nightclub and bar in Burlington. The new owners are renovating the facility and will include a DJ and dancing by Top Hat Entertainment on weekends. (802) 864-9324.

Agway Inc. sold a building on Galliston Hill Road in Montpelier to Patrick Malone. The buyer will convert the building to multi-tenant use. Robert Marlowe, commercial broker with Hickok & Boardman Commercial Realty, brokered the transaction.

Vermont Pure Holdings Ltd. of Randolph acquired approximately 4,000 Poland Spring and Deer Park customers in the Albany, N.Y., market from Perrier Group of America. Annual sales of the acquired customer base were $2.3 million in 1997. Acquisition cost was approximately $2.6 million. Vermont Pure will integrate the new customers into its existing home and office delivery route system.

SymQuest Group Inc. of South Burlington has become partners with SJ Technologies Inc. of Phoeniz, Ariz., to offer electronic document management (EDM) to businesses in the northeastern United States and Canada. The companies convert paper, micrographics, electronic and cold file documents into electronic images, and provide paperless office information management environments. SymQuest also sets up EDM systems and trains users.

Eric Hart, John Burton, Steve Koenemann, owners of Network Performance, have purchased a 7,300-square-foot commercial building at 85 Green Mountain Drive, South Burlington, from Gerry Poulin. They have moved their business to the new location. Doug Nedde of Redstone Commercial Group facilitated the transaction.

June

The Roman Catholic Diocese of Burlington purchased a commercial property at 28 Pine St., Burlington, from the estate of Mary S. Amis. Michael Simoneau, commercial broker with Hickock & Boardman Commercial Realty of Burlington, brokered the transaction.

Wright & Morrissey sold an office condominium at 69 Swift St., South Burlington, to NorthCountry Credit Union. Michael Simoneau, commercial broker with Hickock & Boardman Commercial Realty of Burlington, brokered the transaction.

SAL Inc., an X-ray lithography company in South Burlington, and Altus Technologies Pte. Ltd., a semiconductor fab equipment supplier in Singapore, announced the formation of Singapore Advanced Lithography Pte. Ltd., a Singapore-based joint venture.

Lionheart Technologies Inc. of Carson City, Nev., has agreed to purchase the business and assets of the bioanalytical division of Kontron Instrument Group. Lionheart Technologies also owns Bio-Tek Instruments Inc. in Winooski.

May

David Orrick sold Angelo’s Pizza in Stowe to Brian Kimball of Waterbury. Jason Sherry, commercial sales associate at Atlantic Lodging & Restaurant Brokers of Burlington, brokered the transaction.

The Merchants Bank sold the “Goodell House,” a former community care home on U.S. 7 in Ferrisburg to Chester and Connie Hawkins. The property was brokered by Eric and Mary Farrell of Hickok & Boardman Commercial Realty.

The Longfellow Trust sold a multifamily property at 10 Intervale Ave., Burlington, to Dennis Rouille of Burlington. Bill Sheedy and Eric Farrell represented the seller in the transaction.

First Choice Rentals, Sales and Service Inc. of Colchester has acquired the assets of Burlington Rent-All of Dorset Street, South Burlington, from Edward Welch. Burlington Rent-All Inc., the first rental company in Vermont, opened in 1959 on Riverside Avenue, Burlington, and moved to its present location in 1968. It rents a variety of items with 50 percent of its volume deriving from party rentals. First Choice Rentals has a broad line of equipment for rent and sale, most of it construction related. First Choice has begun construction of a 32,000-square-foot building to house both businesses on Harvest Lane in Williston, behind Moore’s Lumber. Project management for the facility is by Professional Construction Management of Colchester.

April

Paul Lapotosky has purchased Gage Laser Wash car wash, 110 Creek Road, Middlebury, from Jeremiah Gage. Vermont Business Brokers of Williston represented the seller.

Rob Maynard and John Connell announced that Power Play Sports, the new and used sporting goods dealership the pair own, has acquired Vermont Skate Co. of Burlington from Cindy Truax. They have moved the assets to their retail location in Morrisville. Power Play Sports has purchased the 4,000-square-foot retail and commercial space it previously leased at 64 Portland St. from Amy Jones of Jones Jewelry.

Appletree Bay Property Management on North Street, Burlington, has acquired Property Management Consultants, a commercial and residential property maintenance company in Williston. Vermont Business Brokers of Williston was the listing and selling agent.

Murphy Realty Corp. has purchased 70 acres of land in St. Albans from Delaware North Inc. The land is the site of a 55,000-square-foot Price Chopper Supermarket under construction and scheduled to open in the spring. Murphy Realty was represented by Tim Burke of Pomerleau Real Estate and Steve Reid of Brookfield Development Co. Inc. Phil Gerbode of Coldwell Banker Poquette & Bruley represented Delaware North.

Jacques Smith purchased The Camera Corner, a St. Johnsbury photographic supply store, from Larry Stahler. Vermont Business Brokers of Williston represented seller and buyer.

Green Mountain Vista, a manufacturer of curtain hardware, has leased 5,000 square feet of commercial space in the former McAuliffe building at 180 Flynn Ave., Burlington. Mark Thibeault of Neville Companies and Michael Simoneau of Hickok and Boardman Commercial Realty assisted Green Mountain Vista and Formac North Inc. with the leasing of this space.

Bill and Nancy Forsyth have relocated TCBY Treats from St. Paul Street, Burlington, to 1160 Williston Road, South Burlington. They have acquired two additional franchises, Moe’s Italian Sandwich Shop and HomeBake Pizza. Originated in Portsmouth, N.H., where it established its popularity serving only one choice of deli sandwich, Moe’s now includes several choices. HomeBake Pizza sells individually prepared pizzas to be taken home and baked. The new location is open 11 a.m. to 10 p.m.

Ray Fournier, owner of St. Albans Glass Co., has purchased a building at 19 Beauregard Lane, St. Albans, from St. Albans Heating & Ventilating. It is the new location of St. Albans Glass. Vermont Business Brokers of Williston assisted in the transaction.

Neil and Carol Van Dyke have assumed controlling interest in Golden Eagle Motels Inc., the operating entity of the Golden Eagle Resort in Stowe from Herbert and Ann Hillman. The Hillmans have owned and operated the Golden Eagle for 34 years, building it from the 12-unit motel they purchased in 1963 to the 95-unit resort it is today. Herb Hillman was honored as innkeeper of the year in 1991. The Van Dykes are the second generation to run this family business. Neil Van Dyke has been involved the resort since 1979, the year he and Carol Hillman married. He was named general manager in 1985 and president in 1991. The Hillmans retain ownership of the real estate property.

VGS Propane LLC, an affiliate of Vermont Gas Systems Inc., has closed on the purchase of the assets of Green Mountain Propane Gas Co., a subsidiary of Green Mountain Power Corp. With the addition of 9,000 customers to its current customer base, VGS Propane becomes the largest Vermont-based propane company. VGS Propane is jointly owned by Northern New England Gas Corp. of South Burlington and EnergyNorth Propane of Manchester, N.H.

March

M.W. Perrine sold an investment property at 384 St. Paul St., Burlington, to Dan and Judith Lindner. Bill Sheedy, a commercial broker with Hickok & Boardman Commercial Realty, represented the buyer in the transaction.

Scott D. Mansfield sold 33 apartment units in seven buildings at 693, 700, 714, 680-698 Riverside Ave. and 51-53 Bright St., Burlington. The new owners plan renovations and the construction of new units and amenities. Eric and Mary Farrell, commercial brokers with Hickok & Boardman Commercial Realty, brokered the transaction.

Peter and Helen Rosenblum and Bill and Phyllis Martin have relocated their real estate business to RE/MAX Preferred of South Burlington.

The Longfellow Trust sold an apartment building at 141 Loomis St., Burlington, to Richard McGrath. Eric Farell and Bill Sheedy, commercial brokers with Hickok & Boardman Commercial Realty, represented the seller. Bob Marlowe, also of Hickok & Boardman Commercial Realty, represented the buyer in the transaction. Control Technologies has purchased a 13,600-square-foot building at 78 Ethan Allan Drive, South Burlington, from Rene Berard of B? Partnership. Esther Lotz of HighPoint Realty in Winooski was the listing and selling agent in the transaction. The facility houses the commercial and industrial controls divisions of the company's Vermont office. The firm also has expanded its Manchester, N.H., operation. Control Technologies provides control systems and computer-based energy management systems for commercial and industrial applications.

Trace Educational Services Inc., an educational consulting firm in Lebanon, N.H., and Applied Earth Technologies, a Colchester firm specializing in environmental and geotechnical services, announced a strategic partnership to bring selected services to school systems in New England.

February

No mergers nor acquisitions appeared in the magazine, due to the special issue published February 1998: The Insiders' Guide to Greater Burlington Spring/Summer 1998

January

Doug Nedde of Redstone Commercial Group in Burlington was the listing and selling broker of the former Chittenden County Transportation Authority (CCTA) facility at One Industrial Parkway in Burlington to Ryan Bros. Electric. CCTA has moved to a newly built facility at 15 Industrial Parkway.

Hospitality Inns Inc. in Burlington announced it has signed a letter of intent to sell the 309-room Sheraton Burlington Hotel and Conference Center on Williston Road in South Burlington to FelCor Suite Hotels Inc., a real estate investment trust corporation in Irving, Texas. Sheraton owners Gary N. Farrell and Eugene P. Cenci have operated the Sheraton for more than 22 years, and will continue to own and operate the Ramada Inn and Conference Center. The Sheraton is expected to retain its name after the sale. FelCor Suite Hotels owns 71 hotels. Its total market capitalization is approximately $2 billion.

Michael Richine of Plattsburgh, N.Y., purchased the L? Motel property in Plattsburgh from the Vermont National Bank. Robert Marlowe, a commercial broker with Hickok & Boardman Commercial Realty in Burlington, brokered the transaction.

Owners Nordahl Brue, Mike Dressell and Bill Davis announced that Waterbury Holdings of Vermont has been restructured. Davis and Bob Constantino own Waterbury Specialty Foods and its family of branded products, which include rondelé, Hahn's, and All Season's Kitchen. Waterbury Specialty Foods continues to operate out of Burlington, but its headquarters have relocated to Merrill, Wis., site of rondele's cheese facility. Mary Alice McKenzie became president of Waterbury Fresh Foods, and heads the company's Vermont-based food production facilities, which has incorporated the cheese making facility in Enosburg Falls and the meat and prepared foods facility in Burlington, in anticipation of developing soups and prepared foods.

Jody and Manfred Hilker have purchased the 9,208-square-foot office building at 119 S. Winooski Ave., Burlington, from Leavenworth Associates. It was the location of the law offices of Sheehey, Brue, Gray & Furlong. Tony Blake and Bill Kiendl of V/T Commercial represented the sellers. Michael Simoneau of Hickok & Boardman Commercial Realty represented the buyers. The Hilkers have relocated American Pioneer Tours to the building from 86 Lake St., Burlington.