Briefcase: March 2018

CONTRACTS

Nextera Healthcare, a Longmont-based direct-primary-care provider, was awarded a contract to serve St. Vrain Valley School District employees and their dependents. Coverage for benefits-eligible district employees and their families who enrolled in Nextera took effect this year.

Broomfield-based investment company Mount Elbert Capital Partners LLC joined with Singapore-based GIC, a global investment firm with more than $100 billion in assets under management, and Toronto-based OpTrust to form EdgeCore Internet Real Estate LLC, based in Denver, to develop, acquire and operate data centers across the United States. 

Boulder-based SomaLogic is partnering with Leeds Center for Personalized Medicine and Health in the United Kingdom. The collaboration is designed to provide an accurate assessment of current- and future-disease risk, provide a deeper understanding of factors that might drive those risks and provide reliable monitoring of individuals to determine how effective interventions are. Initially, the partnership will assess the impact of SomaLogic’s SomaScan, a protein-based test that provides insight into a patient’s genetic makeup and likelihood for certain diseases. Leeds CPMH is a collaboration between the University of Leeds, the National Health Service, general practitioners, academics and the city council.

Sanitas Brewing Co. in Boulder established agreements to distribute its hand-crafted beers in Maryland, Connecticut, Rhode Island, Nebraska and Colorado. Established in 2013, the brewery uses organic and local ingredients. Beers that will be sold in six packs in these states include Sanitas IPA, Sanitas Black IPA, Sanitas Saison and Sanitas Grand Cru.

EARNINGS

AeroGrow International Inc. (OTCQB: AERO), a manufacturer and distributor of indoor-gardening systems, reported a profit for its third quarter that ended Dec. 31. Its quarterly profit of $406,000, a decline from $622,000 in the same period a year ago, was attributed to an increase in marketing expenses. For the nine-month period, loss from operations improved to $452,000 from $658,000 in the prior year. The Boulder-based company recorded net revenue of $17.4 million, an increase of 31 percent compared with the same period a year ago, and year-to-date, net revenue increased by 45 percent to $25.6 million.

Array Biopharma (Nasdaq: ARRY) posted a second-quarter loss per share of 17 cents, which managed to beat analyst expectations by 6 cents. The Boulder-based company had revenue of $42.2 million, down 5 percent from the same period the year prior, but beat expectations by $15.5 million. Net loss for the second quarter was $34.1 million, or 17 cents per share. The loss grew compared to the second quarter of 2017, when it was $23.3 million, or 14 cents per share.

Ball Corp. (NYSE: BLL) reported a profit of $399 million for 2017, a 52 percent increase compared with $263 million in 2016. The Broomfield-based manufacturer of metal packaging for the beverage, food, personal-care and household-products industries had sales of $11.2 billion for the year compared with $9.1 billion in 2016. Fourth-quarter 2017 profit was $184 million, or 52 cents per diluted share, on sales of $2.75 billion, compared with $52 million, or 15 cents per diluted share, on sales of $2.5 billion, in the fourth quarter of 2016. Ball Corp.’s subsidiary, Boulder-based Ball Aerospace & Technologies Corp., posted a profit of $98 million for 2017 on sales of $991 million, compared with $88 million on sales of $818 million during 2016. Ball Aerospace during the fourth quarter of 2017 had a profit of $28 million on sales of $257 million, compared to $26 million on sales of $241 million in the fourth quarter of 2016.

Medical-device company Encision Inc. (OTC: ECIA) posted third-quarter earnings per share of 1 cent, a quarterly net income of $56,000. The company, which specializes in surgical technology that prevents stray electrosurgical burns in minimally invasive surgeries, had a quarterly net revenue of $2.19 million, an improvement over the same period the prior year, when Encision had a net revenue of $2.23 million but a quarterly net loss of $274,000.

Zayo Group Holdings Inc. (NYSE: ZAYO) posted second-quarter earnings per share 5 cents, missing analyst expectations by 7 cents per share and down compared with 12 cents per share for the same period the year prior. But the Boulder-based provider beat analyst expectations on revenue: $653.5 million compared with the consensus estimate of $648.56 million. Revenue year-over-year grew 29 percent from the $506 million it had for the second quarter of 2017. Net income, however, decreased year-over-year from $19.8 million to $11.5 million.

KUDOS

Several Colorado restaurants, including ones in Louisville and Boulder, were named 2018 semifinalists for the prestigious James Beard Award. The honor, meant to recognize the best in the culinary arts, is sometimes called the “Oscars of Food.” Annie Clark, of Moxie Bread Co. in Louisville, was nominated for Outstanding Baker. In Boulder, Frasca Food and Wine was nominated for Outstanding Restaurant. Finalists for the Restaurant and Chef Awards will be announced on March 14. The award gala will take place on May 7 in Chicago.

The Fort Collins Area Chamber of Commerce received the Outstanding Program Award from the Western Association of Chamber Executives. The award was given because of the chamber’s $3.8 million Northern Colorado Prospers five-year initiative, which includes efforts to improve transportation, labor force, business environment and retaining key employers. The award was given during the 2018 annual conference of the western association Feb. 7-9.

Brinkman, a real estate developer based in Fort Collins, has achieved B Corp certification for meeting standards of social and environmental performance, accountability and transparency. Brinkman becomes the 91st company in Colorado and fifth in the state’s real estate industry to achieve the certification. Brinkman becomes the fourth B Corp company in Fort Collins, joining Motherlove Herbal Co., Envirofit International Inc. and New Belgium Brewing Co. Inc.

At the Greeley Chamber of Commerce annual dinner and awards program, Bonnie and Norm Dean received the Leann Anderson Community Care Award, given to individuals who extend special efforts to benefit the community. Bonnie Dean founded Bonnie Dean Associates, a marketing communications company, in 1972. Norm Dean is a veteran of the banking industry, as well as restaurants, health care, energy and other sectors.  Samantha Zishka, owner of West Ridge Bookkeeping & Accounting Services, was named Ambassador of the Year, and Ely Corliss, owner of the Moxi Theater, was named Young Entrepreneur of the Year. Inducted into the organizations Winner’s Circle, presented to businesses that demonstrate exceptional involvement in the business community and/or professional organizations, were Front Range Roofing Systems LLC, Rice’s Honey, Leprino Foods and Vestas Wind Systems.

Fort Collins Utilities was honored for its initiative, “Driving Fort Collins Clean Energy Economy,” at the Compact of Colorado Communities Symposium. The award is for programs and initiatives in the private and public sectors that display a bold vision for a clean Colorado.

FastSigns of Boulder, a sign and visual graphics provider, was recognized as a top performing center at the 2018 FastSigns convention recently held in Houston. Owned by Valerie and Mike Carlson, FastSigns of Boulder received the Pinnacle Club Award, which is given to centers ranked 26 to 125 in sales volume between Oct. 1, 2016 and Sept. 30, 2017.

MERGERS AND ACQUISITIONS

Tennessee-based TruckPro LLC acquired the assets of Midwest Truck Parts and Service of Denver and Greeley. Financial terms of the deal were not disclosed. TruckPro, a distributor of heavy-duty truck and trailer parts, has about 150 stores nationwide. Midwest Truck Parts and Service, in business since 1965, is a provider of after-market truck parts and service. The company was owned by Howard Siegel, Robin Dow and Larry Martel. It operates stores at 237 22nd St. in Greeley and 5075 Cook St. in Denver.

Chester, Va.-based hotel management group Shamin Hotels acquired the Best Western Plus Plaza Hotel and Plaza Convention Center in Longmont from Pratt Management Co. for $11.5 million. The campus, along Ken Pratt Boulevard in southwest Longmont, includes the 210-room hotel as well as the 36,000-square-foot conference center and a restaurant space that for the past four years has been leased to Smokin’ Dave’s Bar-B-Q and Taphouse.

Cannabis cultivation app WeGrow was acquired by Rhode Island-based VividGro, a manufacturer of LED grow lighting products that is expanding into the agricultural technology sector. WeGrow is a Boulder-based chatbot that helps first-time cannabis home-growers cultivate their product without needing any institutional knowledge or sifting through an overwhelming amount of information on the subject.

Kim Morgan, founder of Muttz Pet Goods and Gifts, sold her four stores in Colorado to Bentley’s Pet Stuff, based in Long Grove, Ill. The stores in Firestone, Broomfield, Westminster and Thornton increase the number of Bentley’s stores in Colorado to 18. The retailer has more than 100 stores across 13 states. Financial terms of the deal were not disclosed.

Advanced Energy Industries Inc. (Nasdaq: AEIS) in Fort Collins has acquired Trek Holding Co. Ltd. in an all-cash transaction for $12 million. Privately-held Trek has locations in Lockport, N.Y., and Tokyo. It designs, manufactures and sells power-producing components.

Louisville-based Bestop, the world’s largest manufacturer of soft tops for Jeep vehicles, acquired Temecula, Calif.-based Kamm Industries, a maker of custom seats and accessories for off-road vehicles. Financial terms were not disclosed. Kamm Industries does business as PRP Seats.

MOVES

Colorado Life magazine has relocated its headquarters from Estes Park to Fort Collins. The statewide lifestyle and travel magazine was founded in Estes Park in 2012. Publisher Chris Amundson and his wife, Angela, at that time also published Nebraska Life magazine. In addition to moving the headquarters, they have added Utah Life magazine to the magazines they publish. The Fort Collins location is in the Front Range Village shopping center on Harmony Road.

SaleScout Data Solutions, a sales and marketing firm, moved its headquarters from Louisville to a larger space in the Interlocken business park in Broomfield to accommodate growth. SaleScout, which provides clients with information about sales leads that are generated by its team, moved from 3,259 square feet at 725 Front St., in Louisville to 5,900 square feet at 11001 W. 120th Ave., Suite 300, in Broomfield.

Plexus Corp., a Neenah, Wis.-based global electronics manufacturer, leased 26,500 square feet of space at 168 Centennial Parkway in the Centennial Valley Business Park in Louisville. Plexus is expanding its operations in Boulder County, will move from 285 Century Place in Louisville and plans to be in the new space by May.

OPENING

Clark Enersen Partners, a multi-disciplinary architectural and engineering firm, opened a Fort Collins office at 2580 Harmony Road, Suite 201. The company specializes in the planning and design of science and research facilities.

Fort Collins-based First National Bank was to open its third branch in Boulder on Feb. 27. The bank renovated a 40-year-old property at 4770 Table Mesa Drive, previously occupied by a McDonalds and then a Vic’s Coffee shop, with green architectural features. First National has 24 retail branches along the Front Range, including multiple locations in Fort Collins, Boulder, Greeley, Loveland, Longmont and Broomfield.

CheckMark Inc., a Fort Collins-based provider of payroll and accounting software, opened a subsidiary company. CheckMark Business Solutions ULC will sell the company’s software, including its cloud payroll service, from its headquarters in Vancouver, British Columbia.

Elevations Credit Union opened its new midtown Fort Collins branch, showcasing the new Branch 2.0 model of design, on Feb. 10 at 2025 College Ave.

Capriotti’s Sandwich Shop, a Las Vegas-based franchise, signed agreements to bring new restaurants to Colorado, as well as to South Dakota and Delaware, in 2018. The brand’s specialty is to slow roast whole, all-natural turkeys in-house and hand-shred them each morning to be featured in sub sandwiches. Restaurateur Ken Cornett has a 12-unit development deal for Colorado. The first two or three locations are expected to open in 2019. Cornett is eyeing Denver, Fort Collins and Boulder as the first markets.

After two years of closure, a longtime Greeley restaurant is back serving up pancakes, steaks and burgers. New owner Dale Dilka reopened The Kitchen at 905 16th St., on Feb. 8. The brunch eatery was purchased from the previous owners in March 2017. The restaurant is managed by Dilka’s daughter, Kayleen Dilka, who serves as its general manager. The Greeley restaurant is not affiliated with the Boulder-based restaurant group of the same name.

Another co-working concept is attempting to open at the former Galvanize space in downtown Fort Collins. Spaces, a concept by International Work Group, is leasing at 242 Linden St.

PRODUCT UPDATE

Ball Aerospace and Technologies Corp. launched a software solution called VizZen. The new commercial, off-the-shelf cloud-based content management system, available for purchase through Amazon Web Services, is a data importing and visualization tool that can integrate any source content and be customized for any industry.

SERVICES

Terrapin Care Station, a national cannabis company, launched TheNewsStation.com, a cannabis information site for those in the industry, journalists, policymakers, community groups and the general public.

The Brewhop Trolley, which shuttles passengers among Longmont’s breweries, distilleries and pubs, is expanding along Colorado Highway 119. The service will add two new trolleys to service locations in Gunbarrel and Niwot. Service along the new route should be operational by March 24, beginning with Saturday and Sunday service. Locations added include Beyond the Mountain Brewing, Asher Brewing, Avery Brewing, Finkel & Garf Brewing, Vindication Brewing, Gunbarrel Brewing, Bootstrap Brewing and Powder Keg Brewing. Brewhop Trolley’s operators also are considering expansion to Boulder.

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