Briefcase – Sept. 23, 2016
CLOSINGS
A Boulder father-son duo that’s been in business longer than any tech-savvy millennial in town has been alive is closing up shop. Boulder Electric Motor Co., owned by Bill Thielman, 89, and son Billy, 64, and known for its ability to tinker with and fix just about any kind of electric motor under the sun, is shutting down after being in business since 1975.
Twenty-two people figure to lose their jobs next month when Air Liquide closes its cylinder-filling plant in southeast Longmont. Air Liquide plans to close the facility at 500 and 650 Weaver Park Road on Oct. 1 as part of a reorganization following the company’s acquisition of rival Airgas earlier this year.
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CONTRACTS
When NASA’s Orion spacecraft heads for Mars in the coming years, it will be powered in part by lithium-ion batteries being made by an aerospace company in Longmont. NASA’s Journey to Mars initiative, in the works for the past six years, took center stage at the Plaza Convention Center during an event hosted by Joe Troutman, senior manager at EnerSys Advanced Systems – ABSL Space Products, the company making the powerful batteries. The event, held under a banner that read “The Road to Mars Goes Through Longmont,” drew attention to Enersys’ work for NASA’s space program and the hundreds of aerospace companies based in Colorado.
Solas Energy Consulting US Inc., based in Fort Collins, and its partner company, Solas Energy Consulting Inc., based in Calgary, Alberta, have landed contracts to provide construction-management services for the 51-megawatt Hancock Wind Project under construction near Ellsworth, Maine, and the 185-megawatt Bingham Wind Project under construction near Bingham, Maine. Financial terms of the contracts were not disclosed.
Colorado State University and the city of Fort Collins are partnering with organizers of the famed BolderBoulder to create the Fortitude Labor Day 10K Classic, a running race that will end at CSU’s new $220 million on-campus stadium. CSU, the city, Visit Fort Collins, the Fort Collins Area Chamber of Commerce and BolderBoulder Inc. are partnering on the inaugural event, set for Sept. 4, 2017. The race will take place shortly before the CSU Rams play their first football game in the new stadium Sept. 9 against Abilene Christian. The race will begin near Moby Arena, at the corner of Shields and Elizabeth streets.
DEADLINES
The Colorado Agricultural Leadership Program is accepting applications through Sept. 30 from emerging leaders looking to further develop their skills and commitment to the future of Colorado’s agricultural and rural communities. Participants in the program travel the state, learning about agriculture in every region, while also honing their personal leadership skills. As a culmination to the two-year program, the group also participates in an international trip to learn about agriculture in a foreign country and trade between that nation and the United States. The next CALP class will consist of 12 seminars, running from February 2017 through February 2019. Applications can be downloaded at coloagleaders.org.
KUDOS
Fort Collins-based New Belgium Brewing was named best in overall performance among all “Best for the World” certified B Corporations by Lawrence, Kan.-based B the Change Media. “Best for the World” recognizes the top 10 percent of B Corp companies that fit standards on the B Impact Assessment of social and environmental practices, accountability, and transparency.
Kristy Lewis, chief executive and founder of Boulder-based Quinn Snacks, was named one of Food and Wine magazine’s 2016 Most Innovative Women in Food and Drink. The third annual list features women who had the most transformative impact in the last year on food and drink.
RMC Pharmaceutical Solutions, Village at the Peaks and Sun Construction & Facility Services received 2016 Community Appreciation awards in recognition of their philanthropic contributions in Longmont over the past year. Also at the awards event presented by the Longmont Economic Development Partnership, the Longmont Industrial Parks board of directors presented the Top Brock Award to Oskar Blues Brewing founder Dale Katechis, and the LEDP in conjunction with Partners for A Clean Environment presented its first PACE Business Sustainability Award to Main Street Mats. Oskar Blues Brewery, was asked to identify a local nonprofit to receive a $1,000 contribution in Brock’s honor on behalf of the Longmont Industrial Park board through the Longmont Community Foundation. Katechis selected the CAN’d Aid Foundation, a nonprofit formed by Oskar Blues that through events raises money for causes in towns in which it operates.
The rollout of Longmont’s NextLight municipal broadband service continues to put the city on the map as it relates to the fastest available Internet speeds nationwide. PC magazine ranked Longmont third among U.S. cities with the fastest average Internet upload and download speeds based on tests conducted by the publication. Only Kansas City, Mo., one of the seven cities where Google Fiber offers its gigabit service, and Deltona, Fla., topped Longmont on the list.
Business incubator Innosphere in Fort Collins and startup accelerator Mergelane in Boulder are among 68 groups that each won $50,000 as winners of the Small Business Administration’s third annual Growth Accelerator Fund Competition. The winners, in 32 states and the District of Columbia, will receive a total of $3.4 million in prizes to boost the economic impact of accelerators. The only other accelerator in Colorado to be selected as a winner was the Southwest Colorado Accelerator Program for Entrepreneurs based in Durango.
MERGERS & ACQUISITIONS
British business information group Informa Plc agreed to buy New York-based information services company Penton Media Inc. for $1.6 billion to expand in the United States and grow its global exhibitions business. Penton has operations in Boulder and Fort Collins. Penton owns New Hope Network in Boulder, which manages events such as Natural Products Expo West, Natural Products Expo East and Engredea, and publishes Natural Foods Merchandising and Delicious Living magazines. Penton acquired Boulder-based New Hope Communications Inc. from Doug Greene in 1999 for $82 million — $41 million in cash and about 2.1 million shares of common stock. Penton’s operation in Fort Collins focuses on technology products. In 2000, Penton Media purchased Duke Communications International – formerly one of Loveland’s largest employers – from its founder, David Duke, and moved operations to Fort Collins in 2010.
Castle Rock biotechnology firm Venaxis Inc. (Nasdaq: APPY) acquired Boulder-based BiOptix Diagnostics Inc. in an all-stock transaction worth roughly $2.6 million, with plans for the combined operation to be located in Boulder. Venaxis chief executive Steve Lundy, who will remain in charge of the merged firm, said Venaxis will move to BiOptix’s Boulder office at 1775 38th St., and that all 12 BiOptix employees are expected to stay onboard with Venaxis. BiOptix CEO Rick Whitcomb will take on another senior role with the company, and Venaxis has four full-time employees who will be part of the new company.
The owners of Colorado National Golf Club in Erie sold a controlling interest in the course to SW Greens LLC — which owns Bear Dance Golf Course in Larkspur and Plum Creek Golf Club in Castle Rock — for an undisclosed amount.
Canadian fertilizer giants Agrium Inc. and Potash Corp. of Saskatchewan Inc. said they plan to merge, creating one of the largest crop-nutrient companies in the world, with a worth of about $36 billion and nearly 20,000 employees. Agrium, based in Calgary, Alberta, has operations worldwide, including Loveland, Greeley and Denver. How the merger will affect operations in Northern Colorado has not been divulged by the companies. Agrium has been expanding its operations in Northern Colorado. Agrium Inc. broke ground in July on a four-story, 120,000-square-foot office building in Loveland that will be home to the company’s U.S. corporate and wholesale office employees. In June, Agrium opened a new research facility in Greeley, where it also operates a production facility. The new 18,000-square-foot facility — The Agrium Wholesale Lab and Pilot Plant in the West Greeley Tech Center — is used for researching and testing new fertilizer products.
The merger of Guaranty Bancorp and Home State Bancorp, the holding companies for Guaranty Bank and Trust Co., and Home State Bank, became final. Announced in March, the merger creates one of the five largest Colorado-based bank-holding companies. Systems of both banks are expected to be integrated by Nov. 7, including changing the name on the buildings to Guaranty Bank. Until then, Home State Bank and Guaranty Bank customers will continue to use their respective local branches. Home State Bank operates 11 branches, with four in Loveland, three in Fort Collins and one each in Windsor, Berthoud, Longmont and Lafayette. Guaranty Bank has 26 locations, including three each in Fort Collins and Longmont, two in Greeley, and one each in Loveland, Boulder and Berthoud.
Sovrn, a Boulder-based provider of tools that help online publishers present their content, acquired technology and assets from New York-based Zemanta Inc. Sovrn purchased Zemanta’s Editorial Assistant and Related Posts, and the transition of the products to Sovrn should be completed by the end of September. Financial terms were not disclosed.
Silicon Valley semiconductor firm Integrated Device Technology Inc. (Nasdaq: IDTI) acquired Longmont-based Synkera Technologies Inc., a maker of gas sensors used in a wide variety of markets and a client company of Fort Collins-based tech incubator Innosphere. Terms of the acquisition were not disclosed. Former Synkera CEO Debra Deininger, who remains onboard as director of gas sensing for IDT, said her company is working on the integration process with IDT now, with Synkera’s technology and products soon to be under the IDT name.
The cofounders of FansUnite came to Boulder for the Boomtown startup accelerator happy to refine their business model in hopes of attracting venture capital. Little did they know then that the mentor who would introduce them at Boomtown’s culminating demo day in April would just a few months later become much more. Vancouver, B.C.-based FansUnite — which provides an online community where users can place fantasy sports bets using virtual currency — was acquired by another Vancouver company, Fantasy 6 Sports, for $2 million.
A Boulder company that’s made a rapid rise over the past five years thanks to the boom in canned craft beer is taking on a new partner. Wild Goose Canning is merging with Pasco, Wash.-based Meheen Manufacturing. Wild Goose makes canning systems for craft brewers, while Meheen is focused on bottling systems. Both companies are expected to maintain their current operations in their current locations.
OPENINGS
Sept. 7 marked the beginning of a soft opening for the Music District, a 57,000-square-foot campus with communal areas, co-working, industry incubation, rehearsal rooms, retail, radio, residences and more in Fort Collins. Opening activities will culminate with an opening celebration Sept. 30.
The owners of a planned brewpub at Brinkman Partners’ Harmony Commons mixed-use development in southeast Fort Collins are hoping for an April opening. Gerard Boyle, general manager at Sonny Lubick Steakhouse and part of the group raising capital to cover startup costs of the new brewpub, said the owners haven’t settled on a name for the establishment yet. But Boyle said the restaurant portion of the brewpub will serve “chef-inspired American fare” using locally sourced ingredients whenever possible, with everything made from scratch. With work already underway on the commercial buildings at Harmony Commons at the southwest corner of Harmony Road and Lady Moon Drive, Boyle said the ownership group is working on designs for a couple of possible floorplans for the 7,000-square-foot brewpub. Boyle said he expects the brewpub to employ somewhere around 50 people.
Illinois-based Bentley’s Pet Stuff, which earlier this year acquired Greeley pet-store chain Natural Pet Marketplace, hosted grand reopening celebrations Sept. 10-11 for three rebranded stores in Denver, Fort Collins and Greeley. A new Boulder Bentley’s store in the heart of the Twenty Ninth Street shopping district, meanwhile, is expected to have a soft opening in the coming weeks. Bentley’s closed the three Natural Pet Marketplace stores in Denver (1685 S. Colorado Blvd.), Fort Collins (2721 Council Tree Ave.) and Greeley (4626 Centerplace Drive) for a few weeks over the summer to remodel and rebrand them. Senafe said all three reopened within the last couple of weeks
A Fort Collins-based whiskey-and-bacon bar hopes to replicate its concept in Boulder County. William Oliver’s Publick House plans to open a location at 201 N. Public Road in Lafayette sometime between November and January. Owners expect to employ 15 to 20 people and feature 400 whiskeys.
PRODUCT UPDATE
The Food Corridor LLC, a startup based in Fort Collins, launched its first product, software that allows food entrepreneurs to find commercial kitchen space via an online marketplace. The software connects food entrepreneurs with available and unused commercial kitchen spaces in an effort to regionalize food systems through reducing redundancy and increasing efficiencies. Its online platform provides scheduling, booking, client management and financial transaction processing.
SERVICES
Northern Colorado residents now can receive PET/CT scans at the North Colorado Medical Center Summit View Medical Commons, a Banner Health facility. As part of the Summit View renovation, the clinic purchased the $1.7 million Siemens biograph mCT flow PET/CT imaging system to deliver more accurate images and reduce radiation exposure.
Behavioral Health Group LLC will expand services at its treatment center in Fort Collins. The BHG Fort Collins Medication Unit at 2114 Midpoint Drive has been a satellite of BHG’s Longmont Treatment Center. The unit in Fort Collins will begin offering patients the company’s full array of opioid-addiction services. In addition to medication-assisted treatment, services will include physician exams, admissions, counseling and lab testing.