Briefcase – 2019

BRIEFS

A small satellite built by Boulder-based Ball Aerospace arrived in Florida to be launched in June as part of NASA’s Green Propellant Infusion Mission.

Longmont-based nSpire Health Inc., which develops respiratory medical devices and software for respiratory information systems, filed a voluntary petition for Chapter 11 bankruptcy protection with U.S. Bankruptcy Court in Denver. The filing lists assets and liabilities of $1,000,001 to $10 million.

KromaTiD Inc., a biotech company that recently moved its headquarters from Fort Collins to Longmont, was awarded a Phase 2 Fast Track Small Business Innovation Research grant from the National Human Genome Research Institute. The combined total of the first two phases of grant funding is $900,000, and will be used for further development of an automated, whole-genome directional genomic hybridization platform.

CLOSING

Boulder-based Fate Brewing Co., which hoped to reorganize under Chapter 11 bankruptcy protection, closed its doors for good, May 27.

Eagle Grill, 1600 N. Hover St. in the Centennial Square shopping center in Longmont, closed abruptly in May.

The Hobnob Restaurant, 205 W. Fourth St. in Loveland, closed unexpectedly after 41 years in business. The owners reportedly decided to retire and didn’t want an emotional ending. They decided not to give advance notice of the closing.

The Kitchen in Fort Collins temporarily closed May 26 to transition into a Next Door American Eatery, a more casual restaurant concept. The Kitchen has locations in Fort Collins, Boulder, Denver and Chicago. Next Door restaurants are in Longmont, Boulder and metro Denver, as well as in Indiana, Illinois, Tennessee and Ohio. Both chains are operated by The Kitchen Restaurant Group, co-founded by entrepreneur Kimbal Musk. The company does not have plans to transition any of the other The Kitchen locations at this time. The Kitchen location at College and Mountain avenues in Fort Collins is expected to reopen later in the summer.

GameDay Sports Grill, a bar at 1027 W. Horsetooth Road in Fort Collins, closed suddenly. The bar, owned by retired educator Jim “JB” Quick, had only been open for 14 months.

CONTRACTS

Vestas, the Danish wind-technology manufacturer with operations in Windsor, Brighton and Pueblo in Colorado, received an order for 249 megawatts of turbines from EDF Renewables Inc., a San Diego-based wind and solar power company. EDF will install the turbines in the 273 MW Las Majadas wind project in Texas. Vestas also received an order for 228 megawatts of wind-generating turbines from PacifiCorp, a subsidiary of Berkshire Hathaway Energy, for the 250-MW Ekola Flats wind project, located in Wyoming, and an order  for 420 megawatts of turbines for another project in the United States.

Black Swift Technologies LLC, a specialized engineering firm based in Boulder, will deploy its advanced aerial research platform, the Black Swift S2 UAS, in a research project in Greenland. The University of Colorado Boulder, through its Institute of Arctic and Alpine Research, will use the platform to conduct high-altitude, high-latitude atmospheric research studies in Greenland. This work is supported by the National Science Foundation and is part of the larger international East Greenland Ice-Core Project.

Obrigado, a Brazilian coconut product company,  engaged Boulder-based Vermilion as its U.S. digital agency. Located in Bahia, Brazil, Obrigado farms 16,000 acres of coconut trees producing more than a million liters of water each month for its family of products. Vermilion Design + Digital, a Boulder communications agency specializing in promoting healthy products and social change organizations, will lead social and digital creative for the brand.

Mile High Labs, a Boulder-based CBD company for the wholesale market, expanded its distribution network to include sales in the United Kingdom and Europe. The company’s international business operates from Belfast, Northern Ireland.

Peak Serum Inc., a supplier of fetal bovine serum to bioscience researchers, inked a strategic partnership with Japanese biotechnology product distributor Vita Inc. Vita represents suppliers of biotechnology products from the United States, Canada, Germany, England, Sweden, Italy, New Zealand, China, India and other countries.

Emerson Electric Co. (NYSE: EMR), a multinational engineering product manufacturer and service provider, is partnering with Colorado State University to build the Emerson Brewing Innovation Center, which will give students hands-on learning opportunities in automation technologies. The center will be part of CSU’s Fermentation Sciences and Technology program.

Solid Power Inc., a Louisville-based developer of all-solid-state batteries, added another marquee name to its list of investors. Ford Motor Co. made an equity investment in the company, teaming with Solid Power to develop batteries for next-generation electric vehicles.

Surna Inc. (OTCQB: SRNA), a Boulder-based indoor cannabis cultivation system maker, was contracted for two grow facility projects that total $4.7 million, equal to nearly half of the company’s 2018 revenue. One of the contracts is for $2.2 million and calls for the construction of a 90,000-square-foot grow facility in an unnamed Midwestern city. The second contract, for $2.7 million, involves the sale of equipment for a 40,000-square-foot expansion of an unnamed company’s existing grow operation.

EARNINGS

Advanced Energy Industries Inc. (Nasdaq: AEIS) reported a sharp drop in sales and net income for the first quarter ended March 31. The Fort Collins-based company, which designs and manufactures precision power-conversion devices for the semiconductor and advanced-manufacturing sectors, recorded sales of $140.7 million in the first quarter, down from $154.2 million in the fourth quarter of 2018 and down from $195.6 million in the first quarter of 2018.

Net income from continuing operations totaled $15.4 million, compared with $19.2 million in the fourth quarter and $46.4 million in the first quarter of 2018.

Array BioPharma Inc. (Nasdaq: ARRY) posted higher net losses in the third quarter of the company’s 2019 fiscal year, but the Boulder-based pharmaceutical firm’s earnings outpaced Wall Street estimates. Array, which develops cancer therapies, reported a net loss of $37.5 million, or 17 cents per share, for the quarter that ended March 31. That’s up from a loss of $21.8 million, or 11 cents per share in the same period last fiscal year.

Charlotte’s Web Holdings Inc. (OTCQX: CWBHF), which manufactures hemp extract products with naturally occurring cannabidiol, posted revenues of $69.5 million in fiscal year 2018, up about 74% from 2017. During the fourth quarter of FY 2018, which ended Dec. 31, Charlotte’s Web posted sales of $21.5 million, up from $12.6 million in the same period in 2017.

Clovis Oncology Inc. (Nasdaq: CLVS) posted $33.1 million in sales of its cancer treatment Rubraca (rucaparib) during the first quarter of fiscal year 2019, up from $18.5 million during the same period in 2018. Despite the higher revenues, the company posted higher net losses in the quarter that ended March 31 — $86.4 million, or $1.63 per share, in the most recent quarter compared with $77.7 million, or $1.54 per share, in the first quarter of 2018.

Crocs Inc. (Nasdaq: CROX) posted earnings for the first quarter of fiscal year 2019 that outpaced past quarters as well as Wall Street estimates. The company posted net earnings per share of 36 cents, up from 23 cents in the first quarter of 2018. Investors had projected Crocs’ to post an EPS of 25 cents. Crocs’ net income for the most recent quarter was $24.71 million, up from $16.45 million in the same period last fiscal year.

Encision Inc., a Boulder-based medical device manufacturer, reported quarterly net losses of $183,000, up from a loss of $18,000 in the same period last year. Revenues in the company’s fourth quarter of fiscal year 2019, which ended March 31, were up slightly year-over-year, $2.09 million compared with $2.04 million. For the full fiscal year, Encision reported a net loss of $236,000. In 2018, the company posted full fiscal year net income of $336,000. For the full fiscal year, Encision reported a net loss of $236,000. In 2018, the company posted full fiscal year net income of $336,000.

Gaia Inc. (Nasdaq: GAIA), a conscious-media and community company, reported higher revenue, but with a continued loss, for the first quarter ended March 31. The company recorded net revenue of $12.47 million, up 36 percent from $9.14 million in the same period a year ago. Gaia posted a loss of $6.73 million, compared with $6 million a year ago. Net loss from operations, however, declined to $6.4 million, down from $8 million in the first quarter of 2018.  Gross profit in the first quarter increased 36% to $10.9 million, compared with $8 million in the year-ago quarter. Total operating expenses in the first quarter increased to $17.3 million compared with $15.9 million in the year-ago quarter. As of March 31, Gaia reported that it had $22.3 million in cash. The company also refinanced its current line of credit on April 26, with the new financing increasing borrowing capacity by $17 million and extending the maturity from 2020 to 2022, with two one-year extension options.

Gogo Inc. (Nasdaq: GOGO), which provides broadband connectivity products and services for aviation, posted estimated consolidated quarterly revenue of $197 million to $200 million and a consolidated net loss of $17 million to $20 million, down from a loss of more than $27 million during the same quarter in fiscal year 2018. Gogo has operations in Chicago and Broomfield.

Heska Corp. (Nasdaq: HSKA), a Loveland-based veterinary diagnostic product maker, saw lower revenue and earnings in the first quarter of fiscal year 2019 compared with the same period last year. The company posted quarterly revenues of $29.5 million, down from $32.8 million in the first quarter of fiscal year 2018. Net income dropped to $800,000, or 10 cents per diluted share, in the first quarter of 2019, compared with $2.2 million, or 28 cents per diluted share, in the same period last fiscal year.

Independent Bank Group Inc. (Nasdaq: IBTX) reported net income of $37.1 million during the first quarter up from $29 million the same period a year ago. The first-quarter profit represents 85 cents per diluted share. The company, which operates Independent Bank, completed its acquisition of Guaranty Bancorp on Jan. 1, increasing total assets by $3.9 billion, total loans by $2.8 billion and total deposits by $3.1 billion. Independent Bank recorded organic loan growth of 7.2% during the first quarter. The company also repurchased $10 million of company stock as part of its Share Repurchase Program. Independent Bank operates branches in Texas and Colorado, including Boulder, Larimer and Weld counties.

Maxar Technologies Inc. (NYSE: MAXR) reported a $59 million loss for the first quarter of fiscal year 2019 after posting a $15 million profit during the same period last year. That loss was 99 cents per share compared with earnings per share of 26 cents in the first quarter of 2018. Revenues for the most recent quarter were $504 million, down from $557 million during the same quarter of FY 2018. Maxar, which includes DigitalGlobe, has operations in Longmont.

Despite recent advancement in clinical trials for several drugs, MiRagen Therapeutics Inc. (Nasdaq: MGEN), a biopharmaceutical company focused on RNA-targeted therapies, posted higher losses in the first quarter of fiscal year 2019 compared with the same quarter in 2019. The company’s net loss was $11.6 million, or 38 cents per share, for the first quarter of 2019, up from $4.7 million, or 18 cents per share, for the first quarter of 2018. Quarterly revenues were $400,000, down from $4.8 million for the first quarter of 2018. Expenses relating to research and development were $8.8 million in the most recent quarter, compared with $6.4 million for the first quarter of 2018. The company had cash, cash equivalents, and short-term investments of $51 million as of March 31.

Noodles & Co. (Nasdaq: NDLS) reported decreased revenue but a lower net loss for the first quarter of 2019, which ended April 2. Revenue decreased by 0.4%, to $110 million, primarily because of fewer restaurants. Comparable restaurant sales were up 3%, including 3% at company stores and 2.8% at franchise locations. Net loss declined to $1.9 million from $3.6 million. Adjusted EBITDA was $5.6 million for the first quarters of both 2019 and 2018. Off-premise increased to 56% of sales during the first quarter of 2019, led by our digital sales, which, inclusive of delivery, grew 63% over last year and accounted for 22% of sales.

Pilgrim’s Pride Corp. (Nasdaq: PPC) reported first-quarter 2019 income of $84 million, down from $119 million in Q1 2018. The Greeley-based chicken producer had net sales of $2.72 billion, down slightly from the $2.74 billion in the same quarter of the year prior.

Surna Inc. (OTCQB: SRNA), a Boulder-based indoor cannabis cultivation system maker, posted a net loss of $900,000 in the first quarter of fiscal year 2019, down from a $1.88 million loss in the same period last year. Cost reductions helped shrink the company’s year-over-year loss, as revenues were down in the most recent quarter as compared to the first quarter of fiscal year 2018. Surna posted revenues of $1,771,000 for the quarter that ended March 31, 2019, down from $2,055,000 in the first quarter of 2018.

UQM Technologies Inc., a maker of components for the electric-motor industry, increased its revenue in the first quarter of fiscal year 2019 to $3.7 million, up from $1.6 million in the same period last year. Despite sales growth, the company reported higher net losses: $2.6 million, or 5 cents per share, the past quarter, up from a net loss of $1.9 million, or 4 cents per share, last year. The company was sold to Danfoss Power Solutions (US) Co. in April. UQM is based in Weld County but operates with a Longmont address.

Urban-gro Inc., a Lafayette-based cannabis company, reported revenue of $20 million for 2018, up 63 percent from $7.75 million the prior year. The company, which provides technological solutions for cannabis cultivation, increased its net loss, to $3.9 million, or 16 cents per share, from $2.58 million, or 11 cents per share, in 2017.

Woodward Inc. (NASDAQ:WWD), a Fort Collins-based industrial and aerospace control systems maker, posted net revenues of $759 million for the second quarter of fiscal year 2019, up 38 percent over the same period in 2018. Much of that sales growth was driven by Woodward’s aerospace segment, which accounted for $483 million of the company’s quarterly revenue.

Boulder-based Zayo Group Holdings Inc. (NYSE: ZAYO), which provides high-speed fiber-optic infrastructure, increased its net income in its third quarter, which ended March 31. Third-quarter net income was $34.7 million, compared with $30.2 million in the quarter that ended Dec. 31, and $23.5 million in the third quarter of last year. Basic and diluted net income per share during the third fiscal quarter was 15 cents. During the third quarter, capital expenditures were $206.4 million. At the end of the quarter, the company had $179.7 million of cash and $271.5 million available under its revolving credit facility.

EVENTS

Budweiser Events Center at The Ranch in Loveland will host the NCAA Division 1 Men’s Ice Hockey West Regional Tournament in 2020 and 2021 — March 27-28 both years.

The Loveland Chamber of Commerce will host the Northern Colorado Regional Dancing with the Stars competition with proceeds going toward economic development in the region. The event will be 6 p.m. June 29 at the Embassy Suites by Hilton in Loveland. The event is a black-tie affair with dinner, silent auction, live auction and dancing. Sponsorship opportunities are available and tickets can be purchased at the Loveland Chamber for $80 per person.

KUDOS

BizWest was recognized by the Society of Professional Journalists with three first-place awards in the annual Top of the Rockies Excellence in Journalism Awards. The contest involves journalists from Colorado, New Mexico, Utah and Wyoming. Awards were presented at the Denver Press Club. Bizwest won in the Business Enterprise Reporting category for Jensen Werley’s story called “#WeToo,” which reported on impacts of the #MeToo movement on regional business. Shelley Widhalm won for Business General Reporting for “Tariffs hit home” about what area businesses are experiencing from recent international tariffs. Co-publisher Christopher Wood won for Editorial Writing. BizWest staff members also brought home six awards from the annual Colorado Press Association convention awards ceremony in Aurora. It won first place in Best Advertising Special Section for a custom publication created for Loveland co-working space Desk Chair. Sandy Powell managed the publication. It took second for Best Advertising Special Section, for a new publication in 2018 called Stuff, which featured information about products made in Northern Colorado and the Boulder Valley and also included information about careers in manufacturing and other industries. Powell, Wood, Jeff Nuttall, Ken Amundson, Chad Collins and Dallas Heltzell were among participants in the staff-wide project. BizWest took second for Best Agriculture Story, titled “JBS moves on from Batista scandal” by Paula Aven Gladych, It won first place for Best Health Enterprise/Health Feature Story, “Health-care pricing remains opaque” by Doug Storum, and firsts for Best Business News Feature and Best Feature Story for Werley’s “#WeToo” package of stories.

At its annual Energy Efficiency Expo, Xcel Energy recognized 13 Colorado businesses for their outstanding efforts to save energy. Among those winners were Northern Colorado and Boulder Valley groups: The Children’s Hospital Colorado, which has a campus is Broomfield, won the Motors Efficiency Achievement Award; Patina Flats at The Foundry, a Loveland apartment community, won the Heating Efficiency Achievement Award; the University of Northern Colorado in Greeley won the Self-Direct Achievement Award; and Scheels All Sports, which operates a location in Johnstown, won the Energy Design Assistance Achievement Award.

The 2018-2019 Leadership Fort Collins class received diplomas on May 9 at the Rio Grande Agave Room. A program of the Fort Collins Area Chamber of Commerce, it’s designed to develop leadership skills among those committed to shaping the future of the community. Graduating members of the class are: Brandon Bidwell, 8z Real Estate; John Caesar, Virtus Insurance Services Rocky Mountain Division; acee Collard Jarnot, CSU – President’s Leadership Program; Mara Johnson, Fort Collins Habitat for Humanity; Clinton Dale, Columbine Health Systems; Treena Dockery, Banner Health; Brecke Dowling, UCHealth; Jeff Faust, Vineyard Church; Charles Grant, First National Bank; Kaycee Headrick, Boys & Girls Club of Larimer County; Noah Hutchison, Antioch Fort Collins; Maral Jalili, Brinkman Construction Inc.; Laurie Kadrich, city of Fort Collins; David Katz, Waypoint Real Estate LLC; Brandon Lilly, Madwire; Katie Nixon, UCHealth; Madeline Noblett, Poudre School District; Stephanie Pouse, The Brahma Group; Cody Ramos, First National Bank; Alicia Ready, Bryan Construction Inc.; Andy Reese, Northern Engineering; Lauren Ross Dewey, city of Fort Collins; Joel Schwartzkopf, Colorado State University Health Network; Nathan Scott, Foothills Gateway; Gretchen Stanford, Fort Collins Utilities; Alex Statham-Lardner, Fort Collins Habitat for Humanity; Shannon Stearman; Grant Stump, United Way of Larimer County; Bryan Stump, UCHealth; Mary Timby, Bohemian Foundation; Adam Vander Sande, Austin’s American Grill; Jessica Verderame, Fort Collins Area Chamber of Commerce; Kelley Vodden, Forney Industries; and Danna Young, Dohn Construction.

McKee Medical Center in Loveland and Centura Health-Avista Adventist Hospital in Louisville received exceptional safety grades in the recently released Fall 2018 LeapFrog Hospital Safety Grade report. Receiving B grades were UCHealth Poudre Valley Hospital in Fort Collins, North Colorado Medical Center in Greeley, Good Samaritan Medical Center in Lafayette and Longmont United Hospital. Receiving C grades were Boulder Community Foothills Hospital and UCHealth Medical Center of the Rockies in Loveland.

Mulay’s Inc. achieved a Free From Allergen Certification, the first meat company to achieve the accreditation. Mulay’s, a Longmont sausage and meatball company, completed a third-party audit by Kitchens with Confidence officially certifying its products free from the “Big 8” allergens including wheat, milk, eggs, soy, tree nuts, peanuts, fish and shellfish.

Brooklyn Barber Academy and the Colorado Tech Shop were among the companies selected as winners of Colorado’s 2019 Governor’s Minority Business Awards. Brooklyn Barber Academy, a Boulder-based barbershop and salon, won the Governor’s Minority Business Award in the microbusiness category. Colorado Tech Shop, a Longmont-based contract manufacturing operation, won in the small business category.

The Boulder County Business Hall of Fame inducted its Class of 2019 at a  luncheon at the Embassy Suites in Boulder. This year’s inductees included: Marcel Arsenault and Pete Wells of Real Capital Solutions in Louisville; George Berg of Berg Hill Greenleaf & Ruscitti LLP in Boulder; Henry Braly of Braly Frontier Inc. in Longmont; Sam and Cheryl Sussman of Eight Days a Week in Boulder; Vicki Trumbo, executive director of the Lafayette Chamber of Commerce; Phil Wiland of Wiland Inc. in Longmont; and a posthumous induction for Boulder architect Charles Haertling.

Northern Colorado and Boulder Valley manufacturers were named winners of 2019 Colorado Manufacturing Awards. Winners included: Outstanding Craft Brewer, Weldwerks Brewing, Greeley; Bioscience/Medical, Infectious Disease Research Center at Colorado State University, Fort Collins; Outstanding Food Brand/Co-Packer, Wild Zora, Loveland; Contract Manufacturer, Custom Microwave Inc., Longmont; Cannabis, Wana Brands, Boulder; Builder/Construction, Tharp Cabinet Co., Loveland; and Energy, Bolder Industries, Boulder.

Businesses from Northern Colorado were among those honored as the second class of BBB Spark Award for Entrepreneurship winners at the 2019 BBB Torch Awards for Ethics celebration at the Embassy Suites in Loveland. The program is part of the BBB Foundation Serving Northern Colorado and Wyoming. The awards ceremony also included recognition of this year’s four Torch Awards for Ethics. This year’s Spark Award winners included Fort Collins-based Career Allies and Define the Line, and Greeley-based Zova Marketing. Torch Award winners included AGPROfessionals in Greeley and Fort Collins Habitat for Humanity. Nominations for the 2020 BBB Torch Awards for Ethics are open through June 30.

Longmont’s community-owned NextLight internet service won the Cornerstone Award at the Broadband Communities Summit in Austin, Texas.

Clinica Family Health’s new facility in Lafayette won the Colorado Urban Land Institute’s 2019 “Influence” award, which honors a structure that “inspires imitation by demonstrating positive community impact and financial success.”

Estes Park and Berthoud both made SmartAsset’s recent list of Best Places to Retire in Colorado. Berthoud was ranked third and Estes Park sixth.

Colorado State University was named to a list of best online MBA programs for marketing by college resource provider MBA Central.

Boulder was ranked the nation’s No. 2 “sexiest” town by one of the world’s largest sex-toy retailers, based on its customers’ favorite toys, fantasies and sexual desires. College Park, Ga.-based Lovehoney created an interactive online “sex map” compiled from data based on its sales over the past three years. The map allows comparison to nearby places as well as the national average. Boulder ranked behind only another university town, Morgantown, West Virginia. Fort Collins ranked 28th in Lovehoney’s survey.

MERGERS AND ACQUISITIONS

Loveland-based Advantage Bank entered into an agreement to be acquired by First National Bank of Pierre, S.D. First National currently operates a branch in Centennial. Advantage operates locations in Fort Collins, Greeley and Loveland.

GK Houses LLC, a Birmingham, Alabama-based property management company, acquired the Colorado single-family and small multi-family housing businesses from Four Star Realty and Property Management. Four Star, which operates in Boulder, Fort Collins and Denver, will focus on its student housing and larger multi-family management businesses in those markets. Terms of the transaction were not disclosed. Gk Houses has existing offices in Fort Collins and Denver. The company plans to open a new Boulder office.

Advanced Energy Industries Inc. (Nasdaq: AEIS), a Fort Collins-based power and control technologies firm, purchased Artesyn Embedded Technologies Inc. from private equity firm Platinum Equity LLC. The total consideration of the deal is about $400 million. Artesyn Embedded Technologies, also known as Artesyn EP, makes highly engineered, application-specific power supplies for markets such as hyperscale data centers and telecom infrastructure.

National Research Center Inc., a Boulder-based polling and research firm, was acquired by Polco, a Madison, Wisconsin-based company that provides a digital engagement platform. Terms of the deal were not disclosed.

Numerica Corp., a software technology company founded in Loveland and headquartered in Fort Collins, sold one of its product lines, Lumen, to data analytics firm LexisNexis Risk Solutions. Terms of the acquisition of Numerica assets were not disclosed.

Zayo Group Holdings Inc. (NYSE: ZAYO), which provides communications infrastructure services, was acquired by affiliates of Digital Colony Partners and the EQT Infrastructure IV fund. The transaction will result in Zayo transitioning from a public company to a private company. Under the new ownership, the Zayo team will continue to execute the company’s strategy and remain headquartered in Boulder.

Scaled Agile Inc., a Boulder-based provider of a software framework that helps companies become lean enterprises and improve employee engagement, acquired Conteneo Inc., a California company that makes a platform for collaborative product market research. Conteneo will continue to operate its current business and support its current customers as a wholly owned subsidiary of Scaled Agile.

Tendril Networks Inc., a Boulder-based provider of home energy management solutions for the utility industry, entered into an agreement to buy utility industry customer service firm EnergySavvy. Terms of the deal were not disclosed. The acquisition comes on the heels of a January deal in which Tendril bought energy analytics provider EEme.

Data Network Group Inc., a Boulder-based IT support provider, was acquired by Duluth, Minnesota-based managed technology services firm Compudyne Inc. Terms of the deal, which brings Compudyne’s employee headcount to more than 100, were not disclosed.

A Denver-based private investment company acquired a majority stake in Louisville’s Clean Energy Collective LLC, a developer of community solar solutions. North American Infrastructure Partners, a recently organized private investment company specializing in infrastructure assets, acquired the stake, which will enable Clean Energy Collective to more than double the pace of its product development, including delivery of more than 260 megawatts of solar development over the next 24 months.

Shareholders of UQM Technologies Inc. (NYSE American: UQM), a developer of alternative-energy technologies, approved the Longmont-based company’s merger with Danfoss Power Solutions (US) Co., a division of Danfoss A/S. UQM expects the transaction to close in the second quarter of 2019, subject to customary closing conditions and regulatory approvals, including that of the Committee on Foreign Investment in the United States.

Verblio Inc., a Boulder-based content-creation firm, acquired Automagical Inc., a San Francisco-based company that uses artificial intelligence to create video for any post or story. Terms of the deal were not disclosed. Verblio formerly operated as Blogmutt.

Second Phase, a Boulder-based business-to-business e-commerce software solutions company, was acquired by New Jersey-based B2B order-to-cash solutions firm Billtrust, which accelerates cash flow by automating credit decisions and monitoring, invoice delivery, payment capture, cash application, and collections. Terms of the deal were not disclosed.

Vestas Wind System A/S, the Danish wind-energy company with Colorado production plants in Windsor, Brighton and Pueblo, bought into a German wind and solar company as a way to diversify its operation. It purchased 25.1 percent of Sowitec Group GMBH, which develops alternative-energy projects in multiple countries around the world.

Amazon acquired Canvas Technology LLC, a Boulder warehouse-robotics company.Terms of the transaction were not disclosed.

Human Design LLC, a Boulder advertising agency, is completing its third acquisition in 16 months by acquiring Denver digital design agency Universal Mind Inc., which has created user experiences for Sony, Herman Miller, Adobe, Apple and other brands.

Bongo, a Loveland-based education technology company formerly known as YouSeeU, recently acquired consulting firm Slide21. Slide21, based in Ottawa, Ontario, specializes in agile team development and training in Scrum, a process-management framework often used in software development. Terms of the deal were not disclosed.

MOVES

The Boulder County Bar Association leased new office space in Boulder from Tebo Properties LLC, one of the region’s largest commercial landlords, and will relocate from its current Broadway offices. The new 2,700-square-foot office space is located at 3269 28th St.

The Boys & Girls Club in Wellington hosted a grand opening open house May 31 at the club’s new location, 8445 Third St. The new club, named Sage Homes Boys & Girls Club of Wellington, formerly was the Wellington Community Church education building, a 10,000-square foot facility featuring a gym, cafeteria area and dedicated rooms for art, technology, teen programming and more.

Prosci Inc., a Fort Collins-based provider of change-management training, moved its headquarters to a 33,720-square-foot office space at 2950 E. Harmony Road in Fort Collins.

The company, which got its start in Loveland, had been operating out of a 20,000-square-foot office in Fort Collins’ Harmony Technology Park since 2015.

Loveland’s Ford dealership is moving from its longtime location at 999 E. Eisenhower Blvd. to a new, larger lot at the corner of East Eisenhower Boulevard and Boyd Lake Avenue. The move is expected in about a year and a half. The new lot will be 15 acres compared with the current five acres and will include two showrooms, 50 service bays and space for about 900 cars.

Pro Peloton, a Boulder cycling retailer, celebrated a grand reopening April 28 in a new location at Boulder Cycle Sport, 4580 N. Broadway, following the merger between Boulder Cycle Sport and Boulder Nordic Sport in September.

NAME CHANGES

Rawlins National Bank, with a facility in Longmont, changed its name to Front Range State Bank in its Colorado markets. The bank is a division of RNB State Bank, a rechartered financial institution that moved from a federal to a state charter.

BoomRX, a Boulder-based CBD product maker, changed its name to MandaraRX after receiving an investment from Canadian cannabis firm Mandara Pharma.

PasswordPing Ltd., a Boulder-based cybersecurity firm, now is doing business as Enzoic.

OPENING

Associates in Family Medicine opened its new Windsor facility, where its staff offers primary- and urgent-care services. The building is located at 1683 Main St. on the southeast corner of Main and 17th streets. The two-story, 14,200-square-foot building includes an urgent-care open seven days per week as well as expanded primary care services AFM already offered in Windsor. A community open house at the new building will be held from 3 to 5 p.m. June 15.

Arizona-based Oregano’s Pizza Bistro will open in July at 2690 Baseline Road in Boulder, in a space formerly occupied by Beau Jo’s Pizza. Oregano’s also has a Fort Collins location.

Danny’s Tacos opened at 1751 N. Hover St. in Longmont, in a spot vacated by Deli Cioso.

Blendings at The Preserve, a winery at 3924 Bingham Hill Road in the foothills of Fort Collins, hosted an open house in celebration of its grand opening during Memorial Day weekend.

A fast casual restaurant opened in the Diagonal Plaza in Boulder. Nopalito’s took the space previously occupied by Sancho’s Mexican restaurant. Owner Milton Guevara is serving “mission-style” burritos, among other entrees, and items are priced at less than $10.

Code Ninjas learning center opened in April at 1387 E. South Boulder Road in Louisville.

UCHealth’s new 115,000-square-foot Greeley Medical Center opened to patients in May on the UCHealth Greeley Campus grounds at U.S. Highway 34 and 65th Avenue. The outpatient center features more than a dozen clinics, including physical therapy and rehabilitation, family medicine, internal medicine, urology, audiology, dermatology, surgical, neurology, pulmonology and nephrology. UCHealth’s existing Greeley clinics — anticoagulation, diabetes and medical nutrition therapy, heart and vascular, orthopedics and rheumatology — will move into the center in the coming months.

Customers who walk into the new KeyBank branch at 1933 28th St. in Boulder will likely notice something right away: there are no tellers. Instead, the branch, which opened May 13, is staffed by employees called “financial wellness consultants.”

Cordell & Cordell, P.C., a St. Louis-based law firm that specializes in representing men in divorce litigation, opened an office at 2580 E. Harmony Road, Suite 301, in Fort Collins. The firm already has operations in Boulder, Colorado Springs and Greenwood Village.

Christian Brothers Automotive opened a new car-care and automotive-repair shop at 1500 Academy Court in Fort Collins, near the intersection of Prospect Road and Timberline Road.

Dogtopia, with dog daycare, boarding and spa, opened May 6 at 2101 S. College Ave. in Fort Collins and celebrated its grand opening on May 19.

Ziggi’s Coffee, a Longmont-based chain of specialty coffee shops, signed a new multi-unit franchise agreement to bring its drive-thru concept to Iowa, beginning in Ankeny. Founded in 2004, Ziggi’s operates 18 locations nationwide, and additional units in development.

Boulder-based Aurora Organic Dairy opened a new milk-production and storage facility in Columbia, Mo. The facility is Aurora’s second, joining one in Platteville.

Rush Bowls, the Boulder-based fast-casual restaurant chain known for its meals-in-a-bowl concept, opened its second Fort Collins store in May at 1205 W. Elizabeth St.

Geneve Huxley, former chief financial officer of the Colorado State University Foundation opened Huxley CPA Consulting LLC, an accounting practice directed at helping organizations improve bottom line performance through accounting optimization.

Training for Warriors opened a gym at 950 Boston Ave. in Longmont.

UCHealth converted two stand-alone emergency rooms to urgent-care clinics. The facilities at 2101 Main St. in Longmont and 5965 Firestone Blvd. in Firestone have been converted.

Ent Credit Union, a Colorado Springs-based organization with branches throughout the Front Range, will open a new location in downtown Fort Collins at 243 N. College Ave.

The JBS Global Food Innovation Center in honor of Gary & Kay Smith opened at Colorado State University in Fort Collins. The $15-million center is a partnership between the Greeley-based food processing giant and CSU’s College of Agricultural Sciences. JBS contributed $12.5 million to the project, which is intended to advance best practices in food safety, meat sciences, and animal handling and welfare.

Knight Nicastro LLC, a Boulder-based law firm with offices in Colorado, Missouri and Montana, opened new offices in Chicago and Peoria, Ill.

WeldWerks Brewing Co., a Greeley brewery and taproom, expanded to Colorado Springs. The new taproom is inside a former diner at 3043 W. Pikes Peak Ave. in the Old Colorado City area.

Rocky Mountain Hospital for Children, a pediatric medical practice affiliated with Presbyterian/St. Luke’s Medical Center in Denver, opened a facility in Loveland at 1808 N. Boise Ave. The facility planned a public open house May 4 when community members will be able to meet the specialists who will practice at the Loveland location.

Points West Community Bank, a Windsor-headquartered institution with banks in Colorado, Nebraska and Wyoming, is opening a second branch location in Greeley. The new branch, expected to open later this year, will be inside the historic building at 940 Ninth Ave., formerly home to Woody’s Newsstand, which closed in 2018 after more than 80 years in business.

Gaku Ramen, a Japanese-style ramen restaurant in Burlington, Vermont, opened a location in Boulder’s University Hill neighborhood at 1119 13th St.

Arc Thrift Store, a chain with 29 Colorado locations, opened at 2151 Main St. in Longmont.

PRODUCT UPDATE

The North Forty News, a monthly newspaper in Northern Colorado, will convert to a weekly publication by July this year.

SERVICES

Banner Health is adding new mental-health services for older patients at McKee Medical Center in Loveland. There will be an outpatient clinic for follow-up behavioral health services and a 17-bed inpatient unit in a renovated area on the second floor of McKee. The outpatient clinic will open later this year and the inpatient unit is expected to open in early 2020.

Amazon (Nasdaq: AMZN) launched Prime Now delivery service for Whole Foods shoppers in Fort Collins. Prime Now delivery is also available in Boulder.

An online used car vendor traded on the New York Stock Exchange is offering vehicles for sale in Boulder, Fort Collins, Greeley and Colorado Springs. Carvana LLC (NYSE: CVNA), based in Tempe, Ariz., is bringing its as-soon-as-next-day vehicle delivery to the region.

UCHealth Medical Center of the Rockies in Loveland became the first hospital in the Rocky Mountain region to offer the implantable Remede System for patients with central sleep apnea.

FirstNet, or the First Responder Network Authority, is developing an experience program in conjunction with the FirstNet Innovation and Test Lab in Boulder to introduce first responders to current and future technologies available to them through hands-on experience.

Greeley’s Water Conservation Program, which provides free water audits to city residences and business to help save water, lower bills and improve efficiency, is accepting appointments for July, August and September. Residents can call 970-336-4228 to schedule a water audit.

EVMatch Inc., the vehicle charging company that was the winner of the Boulder Energy Challenge, launched a commercial service. Businesses, hotels, multi-unit dwellings and other commercial sites can sign up for the service.

BRIEFS

A small satellite built by Boulder-based Ball Aerospace arrived in Florida to be launched in June as part of NASA’s Green Propellant Infusion Mission.

Longmont-based nSpire Health Inc., which develops respiratory medical devices and software for respiratory information systems, filed a voluntary petition for Chapter 11 bankruptcy protection with U.S. Bankruptcy Court in Denver. The filing lists assets and liabilities of $1,000,001 to $10 million.

KromaTiD Inc., a biotech company that recently moved its headquarters from Fort Collins to Longmont, was awarded a Phase 2 Fast Track Small Business Innovation Research grant from the National Human Genome Research Institute. The combined total of the first two phases of grant funding is $900,000, and will be used for further development of an automated, whole-genome directional genomic hybridization platform.

CLOSING

Boulder-based Fate Brewing Co., which hoped to reorganize under Chapter 11 bankruptcy protection, closed its doors for good, May 27.

Eagle Grill, 1600 N. Hover St. in the Centennial Square shopping center in Longmont, closed abruptly in May.

The Hobnob Restaurant, 205 W. Fourth St. in Loveland, closed unexpectedly after 41 years in business. The owners reportedly decided to retire and didn’t want an emotional ending. They decided not to give advance notice of the closing.

The Kitchen in Fort Collins temporarily closed May 26 to transition into a Next Door American Eatery, a more casual restaurant concept. The Kitchen has locations in Fort Collins, Boulder, Denver and Chicago. Next Door restaurants are…