October 30, 2017

Briefcase – November 2017

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CLOSING

Switzerland-based Novartis is closing its pharmaceutical manufacturing site in Broomfield because of price drops caused by increased competition in the United States, affecting approximately 450 employees working at 2555 W. Midway. The site will be closed in phases over a two-year period. Production of generic solids for the pharmaceutical industry is expected to cease in Broomfield by fourth quarter 2019. The company will consolidate commercial production of its generic solids portfolio at its manufacturing site in Wilson, N.C.

Comida, the Longmont restaurant with the pink food truck, was to close its original location Oct. 28 and concentrate on its metro Denver locations in order to continue growth. Rayme Rossello launched Comida in 2010 with the food truck. It opened a fixed location at 721 Confidence Drive, then expanded into Denver and Aurora locations at The Source and Stanley Marketplace.

CONTRACTS

The Colorado Department of Transportation granted several unmanned aircraft operators an agreement for drone use on future projects. The award is not project-based but will eliminate the need for CDOT to put out a request for proposal when a project requires a drone.

The five-year award from CDOT will allow for unmanned aerial vehicle support for transportation applications across the state. Firms in the pact are Boulder-based TerraLogic Sustainable Solutions, Wohnrade Civil Engineering in Broomfield, SolSpec in Golden, Unmanned Experts in Denver and Michigan Tech Research Institute in Ann Arbor, Mich.

Boulder-based LoveTheWild, which makes sustainable frozen seafood meals, was one of seven companies selected to participate in Chobani’s natural-food incubator, which spans from September to December.

Loveland-based Lightning Systems will use supply powertrain components manufactured by Longmont-based UQM Technologies Inc. in its offerings of electric vehicles. Financial terms of the deal were not disclosed. UQM (NYSE: UQM) will supply components to Lightning Systems to support its vehicles as part of the Advanced Fuel Qualified Vehicle Modifier program by Ford Motor Co. UQM will supply components consisting of a gearbox, an electric motor and the inverter as well as software controls for electric performance and efficiency.

The Colorado Eagles hockey team, based at the Budweiser Event Center at Loveland, signed a 10-year agreement with the Colorado Avalanche. The move means the Eagles will leave the ECHL, two levels below the National Hockey League, and become a permanent fixture in the American Hockey League, the top developmental league in professional hockey, beginning in the 2018-19 season. For the players, it means they’ll be on the developmental team for the Avalanche. For the fans, it means an elevated level of play.

DEADLINES

Nominations are being accepted through Nov. 30 for the Boulder Valley 40 Under Forty awards. The annual awards ceremony recognizes the best and brightest of emerging leaders in Boulder and Broomfield counties. Those selected will be profiled in BizWest and honored at an evening event Feb. 13, 2018, at the Jewish Community Center in Boulder. Candidates to be honored must be younger than age 40 as of Feb. 13, 2018. They also must not have been a previous 40 Under Forty honoree. Candidates must have made an impact on his or her organization, live or work in Boulder or Broomfield counties, have received professional recognition for significant achievements in the community and have worked to help others through community service and charitable giving. Nominees will be asked to complete a brief application, including three short questions, and will be required to submit a resume. A panel of Boulder Valley 40 Under Forty alumni will select the honorees. Those submitting nominations are welcome to nominate themselves, as well as others. Nominations can be submitted at fortyunderforty.com/bouldervalley. Those interested in sponsoring the event can contact Sandy Powell at 303-630-1954 or spowell@bizwest.com.

KUDOS

Dan Caruso, chairman and chief executive of Boulder-based Zayo Group Holdings Inc. (NYSE: ZAYO), received the 2017 Entrepreneur of the Year award at the Boulder Chamber’s Esprit awards dinner on Oct. 25 at the University Memorial Center’s Glenn Miller Ballroom at the University of Colorado Boulder. Khala Cloths won the Esprit New Venture Challenge, taking home a $10,000 cash prize.

BizWest unveiled the winners of the 2017 IQ Awards, honoring the “Innovation Quotient” among companies and organizations based in the Boulder Valley, as well as local divisions of national/international companies that have been instrumental in developing the most innovative products and services. Winners were announced Tuesday at the IQ Awards reception at the Hotel Boulderado in downtown Boulder. Kindara was named Innovative Company of the Year, Mergelane took the prize in the Incubator/Accelerator category, High Precision Devices Inc. won for Health Care, SomaLogic captured the Life Sciences category, LoveTheWild won in the Natural and Organic field, the Software/Mobile Apps prize went to Bear Systems, and Revel Gear won in the Sports and Outdoors category.

Seven of the 11 finalists up for this year’s Colorado Cleantech Awards are based in the Boulder Valley and were recognized at the organization’s eighth annual celebration Oct. 25 in Boulder. The event is presented by the Golden-based Colorado Cleantech Industries Association. Finalists for High-Impact Clean-tech Company included Boulder-based AES Distributed Energy and Clear Comfort. Nominees for Breakout Clean-tech Company included Louisville-based Solid Power and Boulder-based SunTech Drive. Nominees for Emerging Clean-tech Company included SilLion in Broomfield. Nominees for Clean-tech Innovator of the Year included Blake Jones of Clean Energy Credit Union in Boulder and Tony Wibbeler of Boulder-based Bolder Industries.

St Julien Hotel & Spa and Hotel Boulderado in Boulder, along with the Stanley Hotel in Estes Park, were named among the Top 20 hotels in Colorado by readers of Condé Nast Traveler. St Julien came in at No. 3, Hotel Boulderado was No. 13 and the Stanley Hotel was No. 19.

Heska Corp., a veterinary diagnostic products company based in Loveland, was named for the first time to Fortune magazine’s 100 Fastest Growing Companies list. The company was ranked 14th on the list. The magazine said that heartworm and digital-imaging products accounted for the growth in sales that resulted in the ranking. Heska (Nasdaq-HSKA) recorded revenue of $133 million in the past four quarters ended April 30, 2017, and a net income of $14 million. Heska was ranked 87th in three-year growth but first in total return three-year rank.

Two Ball Aerospace employees received Associate Fellows designations from the American Institute of Aeronautics and Astronautics. The designations resulted from “leadership in furthering the advancement of aerospace science and technology,” according to a prepared statement from Ball Aerospace. Honored were Arnold “Chip” Barnes III, chief engineer, civil and commercial space, and Michael O’Hara, director, space technologies and services.

MERGERS AND ACQUISITIONS

Loveland-based Good Day Pharmacy purchased Shop-All Pharmacy in the Shop-All Grocery store in Yuma. The Shop-All Pharmacy has been in business for 57 years at 315 E. Eighth Ave. in Yuma. Staff will remain the same and a new pharmacy manager will be added.

Wisconsin-based TDS Broadband Service LLC closed the deal to acquire K2 Communications LLC, a broadband company serving portions of Northern Colorado. Financial terms were not disclosed. TDS already services Berthoud and Johnstown, and the acquisition of Mead-based K2 Communications adds about 1,200 customers. K2 was started in 2002 and provides broadband, video and voice products. TDS Broadband is a subsidiary of Chicago-based Telephone and Data Systems Inc. and operated by TDS Telecom.

Loveland-based KeyPoint Government Solutions is merging with two other companies to form a publicly traded company that will serve U.S. public-sector clients with information-technology services. DXC Technology (NYSE: DXC) in Tysons, Va., is spinning off its U.S. Public Sector business to merge with KeyPoint and Vencore Holding Corp., both of which are owned by affiliates of private equity firm Veritas Capital. Veritas will remain an investor in the new company. The merger is subject to regulatory approval and is expected to be complete in March.

The combined company will offer cybersecurity, big-data analytics, cloud engineering,

Fresca Foods Inc. made a $3.4 million equity investment in Denver-based 34 Degrees, a maker of 34 Degree Crisps, all-natural, wafer-thin crackers. Louisville-based Fresca has taken 10 percent ownership in 34 Degrees. The capital will allow 34 Degrees to put more emphasis on brand-building programs and product innovation to spur growth.

Germany-based pharmaceutical manufacturer Corden Pharma International GmbH agreed to acquire the Hospira Boulder manufacturing plant from New York-based Pfizer Inc. Financial terms were not disclosed, but the deal is expected to close in November. Pfizer announced in June last year that it intended to close or sell the Hospira facility. Hospira Boulder, to be renamed Corden Pharma Boulder, will be managed by Brian McCudden, chief executive of Corden Pharma Colorado Inc., who was responsible for Hospira Boulder during one of his previous assignments as an employee of Hospira. The 100 workers at the Hospira plant will become employees of Corden Pharma.

MBE Worldwide acquired Salt Lake City-based Alpha Graphics Inc., which has franchisees operating print shops in Loveland and Greeley. Financial terms of the deal were not disclosed. MBE Worldwide, based in Milan, Italy, and AlphaGraphics operate in the business-services industry through a network of locations owned and operated by individual franchisees. AlphaGraphics will continue to operate as an independent company and will retain its current management team, individual names, business concepts and brands.

NAME CHANGES

Boulder Ski Deals is now called Epic Mountain Gear. Broomfield-based Vail Resorts (NYSE: MTN) owns the store at 2525 Arapahoe Ave.

Bioptix Inc. (Nasdaq: BIOP), the biotech company formerly based in Boulder, is undergoing a complete name change and a shift in direction for the company. The business, now called Riot Blockchain Inc., will be a strategic investor and operator in the blockchain industry, with a focus on Bitcoin and Ethereum. Bioptix was purchased by Castle Rock biotech firm Venaxis in September 2016. In December, it changed its name and ticker symbol.

SOFTWAREcolorado, formerly the Boulder/Denver Software Club, announced its rebranding and the addition of collaborative resources through its membership portal for senior software and technology executives in Colorado.

OPENING

Onus iV Hydration will open a “bar” in downtown Boulder where people can receive vitamin cocktails intravenously. Onus iV is planning a grand-opening celebration at 5:30 p.m. Nov. 17 at 1827 Pearl Street, above Boxcar Coffee Roasters, and will share the space with The Baby Bathwater Institute headquarters.

A family has converted their office and warehouse building where they sold 3D printers and associated software into Boulder’s newest co-working space. Campworks, in south Boulder, is meant to be a specific type of coworking space. For Mike, Gloria and Amy Ontiveros, the goal is to give members a place where they can get fresh air as much as they can work on their next big idea. Campworks, which features a full view of the National Center for Atmospheric Research hiking area, will have programming and an atmosphere encouraging members to get outside when they can. The Campworks coworking space is 5,000 square feet made of shared space with dedicated desks, semi-private cubicles and locking private offices. Private offices range from fitting a few people to teams of 12 to 14.

Four more tenants will be taking space in The Exchange, a city-block redevelopment on the north end of Old Town Fort Collins. Fort Collins Donut Co., Steamies Burger Bar, The Pizza Press and FoCo Da Vinci Body are the latest tenants to lease space at The Exchange, joining earlier lessees Old Town Media, CopperMuse Distillery and Churn Ice Cream. Opening dates are still being finalized but will range from late 2017 to early summer 2018. The project is being developed by Brinkman and Richmark.

Centennial-based Haselden Construction opened its North Regional office in Fort Collins. The 1,750-square-foot office at 330 S. College Ave., houses half a dozen team members, at times more, depending on the project they’re working on.

PRODUCT UPDATE

High Tech Health International Inc., a Boulder-based supplier of infrared saunas for health, has received a patent for a healthier sauna heater. The patent protects the company’s development of an infrared heater that is low in both electric field and magnetic field.

Louisville-based Door to Door Organics, an online grocery and delivery service, is expanding into meal kits. But the company is offering its own spin on the idea — which has several other brands competing in the space — by letting customers choose what recipes they want to make based on their shopping history with Door to Door Organics, and then sending them everything they need based on their custom order.

SERVICES

Commercial real estate brokerage Waypoint Real Estate in Fort Collins will launch a property-management service in December. Waypoint Property Management LLC will be headed by Tom Hall, who previously was vice president of commercial operations for real estate development firm McWhinney.

Panera Bread has begun a home- and office-delivery service from five franchises in Northern Colorado. Breads of the World LLC, franchisee of Panera Bread in Colorado, also is launching the delivery service in the Denver metro area. The delivery service is available from Panera Bread bakery-cafes in Fort Collins, Greeley, Loveland and Longmont. In Fort Collins, they are at 2721 Council Tree Ave. and 3700 S. College Ave. Other participating bakery-cafes are at 4533 Centerplace Drive in Greeley, 425 Ken Pratt Blvd. in Longmont and 1550 Fall River Drive in Loveland. Delivery zones have been set based on an 8-minute average drive time from each bakery-cafe. The company said customers can check to see if they are in a delivery zone at panerabread.com, selecting Online Order and Delivery. There is a $3 delivery-service fee and a $5 order minimum. Deliveries are made in a 30-minute to 45-minute window, but orders can be placed as far out as two weeks.

Vancouver, British Columbia-based Foodee Inc., a food-service contractor, partnered with several restaurants in Boulder to provide meal-delivery services to offices. Foodee handles sales, marketing, delivery logistics and client invoicing so restaurants don’t have to. It offers delivery services for meetings, celebrations, breakfasts, overtime and daily meals. Foodee partnered with restaurants in Boulder such as Cured, Woodgrain Bagels, Zeal, Next Door Eatery and more.

RedLion Coach began offering hourly shuttles from Northern Colorado to Denver International Airport in July and offers what it calls luxury Mercedes Coach shuttles and minivans. The shuttles have leather captain chairs, snacks, WiFi and USB ports. They run every hour from 3 a.m. to 11 p.m. Service areas include Loveland, Fort Collins, Windsor, Greeley and Johnstown. The Hilton Fort Collins and Comfort Suites at I-25 and U.S. Highway 34 in Loveland are drop-off or pickup locations. Door-to-door pickup is also available. Cost is $41 one way or $65 round trip. Door-to-door pick-up costs an additional $4. Tickets are available through www.RedLionCoach.com or by calling 970-699-5552.

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