Mergers & Acquisitions

2001

December

There were no Mergers & Acquisitions listed in December 2001.

November

The members of Green Mountain Credit Union and Vermont Grocers Credit Union approved a merger of the two organizations. The entity will remain Green Mountain Credit Union and will hold $11.8 million in assets, serving more than 3,300 members throughout Vermont. The credit union’s field of membership will include members of Vermont Grocers Credit Union, associate trade supplier members of the Vermont Grocers Association, employees and members of non-profit trade associations of the state of Vermont, and employees and clients of PayData Payroll Services Inc.

October

Jerry C. & Patricia A. Barton purchased an 8,370-square-foot office building at 441 Water Tower Hill in Colchester from Michael J. Trahan. Eric Farrell of Redstone Commercial Group represented the seller; Bob Marlow of Pomerleau Real Estate represented the purchasers.

Doug Bergstrom of Georgia has purchased North Country Press, a full-service printing and graphic design company in St. Albans. Bergstrom has ten years' experience in the printing and photographic industry, with a background in computer science and programming. He plans to expand the company's services to include poster printing, laminating and computer workstation rental.

Gordon's Window Decor of Essex has acquired Beadspread Mill Outlet in New Bedford, Mass. Gordon Clements will replace Mathew Frauwirth as president of the company, and will retain the Beadspread Mill sales staff. Clements expects the acquisition will expand services offered in custom residential and commercial markets.

New Horizons Computer Learning Center of Vermont in Williston purchased the computer training operations of Computer Alternatives in Middlebury and Rutland. Computer Alternatives will continue to provide computer products, service and network consulting from its Middlebury location. New Horizons will operate a Rutland training room in the Howe Center, previously run by Computer Alternatives. Employees are not expected to be affected.

Marine One acquired Boat Works in Colchester. Brad Wright, owner, will phase out Marine One, which was a boat service company, and operate under Boat Works. The service staff at Marine One will be incorporated into the new business.

Hilltop Light Assembly of God acquired a 5,700-square-foot commercial building and land at 421 Shelburne Rd. in Burlington from Patricia and Bob Hebert. Hilltop Light Assembly of God will renovate the building and plans to begin church services on Sunday mornings. Bill Sheedy of Redstone Commercial Group was the listing and selling broker.

Infinite Technologies of Vermont Inc. in Richmond has acquired the assets and trade name of Bluehouse Group of Williston. The merger expands Infinite Technologies e-commerce development, Web design and Web-enabled database applications. The Bluehouse Group will continue to operate under its own name.

September

James DeRosia, Arthur Shields and Richard Colton have acquired the development rights and remaining Phase II building sites at Wildersburg, a planned residential community in Barre Town, from Wildersburg Inc. chief executive officer Donald F. McKnight.

Autumn Harp of Bristol has been sold to David G. Logan of Shelburne, who will assume the role of chief executive officer. The company will continue to operate out of its current location. Autumn Harp's cofounder Kevin Harper will serve as executive vice president. Autumn Harp custom manufactures lip and skin care products.

BJ and Bob Bugbee, owners of Heating Alternatives, purchased two buildings and a 1 1/2-acre lot at 8016 Williston Rd. in Williston. Greg Dirmaier of JL Davis Realty was the listing broker representing the seller, John Lambert. Bill Sheedy of Redstone Commercial Group was the selling broker, representing the buyers.

Jerry and Patricia Barton purchased an 8,370-square-foot Class A office building at 441 Water Tower Circle in Colchester. Eric Farrell of Redstone Commercial Group represented the seller, Michael J. Trahan. Bob Marlow of Pomerleau Real Estate represented the buyers.

Tarwood NV has purchased the Ice House property at 171 Battery St. in Burlington. The sellers were Rick Davis and Peter Clifford of Numerous Enterprises, LLC. Steve Donahue represented the buyer.

Tom and Cindy Mackin and Travis Brousseau of Mackin Properties purchased a 12,000-square-foot commercial/industrial building on five acres of land at 61 South Oak Circle, Sunderland Hollow Industrial Park, Colchester. Doug Nedde of Redstone Commercial Group represented the seller, Tom Booska. Eric Farrell of Redstone Commercial Group was the selling broker.

Jack Glaser, president and chief executive officer of MicroBrightField Inc., purchased a 15,000-square-foot office building at 185 Allen Brook Lane in Williston from AirMouse House Limited Partnership. Doug Nedde of Redstone Commercial Group represented the seller.

August

Green Mountain Coffee Roasters Inc. of Waterbury acquired Frontier Organic Coffee from Frontier Natural Products Co-op in Norway, Iowa, for $2.7 million. The acquisition includes the Frontier Organic Coffee brand, trade information and various other assets related to its coffee business. Green Mountain Coffee financed the acquisition through its existing line of bank debt.

Diane Rodgers, a certified Rolfer practicing in Montpelier for the last three years, purchased The Rolfing Center at 323 Pearl St., Burlington. The Economic Development Council of Northern Vermont Inc. helped Rodgers with a written business plan, financial projections and loan presentation, which were used to secure funding for the acquisition. Rolfing is a method of enhancing the human body's pattern of organization to relieve chronic pain, increase flexibility and mobility, and improve athletic performance and overall appearance.

Sterling Valley Systems Inc., a Stowe-based travel technology company, acquired the physical assets and intellectual property associated with innotopia.com travel technology from San Francisco-based Unexplored Inc. The acquisition includes rights to the innotopia.com technology platform, name, customer list and key physical assets.

Chris Applin, owner of Good Times Cafe in Hinesburg, purchased the commercial/residential property at 116 Main St. in Hinesburg. The cafe is a tenant of the building. Leon Beliveau of Century 21 Jack Associates and Rich Feeley of Feeley Commercial Real Estate brokered the transaction.

July

There were no Mergers & Acquisitions listed in July 2001

June

Maple Landmark Woodcraft, the Middlebury wooden toys manufacturer, purchased the assets of Montgomery Schoolhouse from Howard Manosh and Geoff Jackson. The sale includes the Montgomery business’s tradenames, inventories, equipment and customer lists; it does not include land and buildings. Maple Landmark plans to review the combined company to find ways to integrate operations to ensure the competitiveness of product lines. Montgomery Schoolhouse had 17 employees and Maple Landmark, 36.

Carrie and Michael Spear purchased the Marble Store on Mount Philo Road in Charlotte from Leo Perez. The Spears named the business Spear’s Corner Store and will continue running it as a general store. They plan to add gift shop items and remodel, starting with wooden countertops cut from trees in Charlotte. The Spear’s family has a long tradition of owning businesses in Vermont in Charlotte, including Spear’s Garage and Uncle Sam’s Dairy Bar on Route 7.

May

Lee, Grant amd Dana Spates took over ownership of Spates Construction Inc. from their parents, Frank and Jeannette Spates, who started the company in 1974. Grant specializes in estimating and sales. Dana and Lee continue their roles as project superintendents. The family-owned-and-operated construction company continues to specialize in commercial, industrial and institutional work, as well as custom-built residential homes. The company will offer construction management, design build, computer aided drafting and estimating services.

April

Chad and Edward Scribner acquired the former Loon Village Store in Waterbury Center from Gordon Lank and Thomas Ryan. The business will be known as Scribner's Village Store & Deli.

James & Deborah Sumner acquired the former Riverton General Store in West Berlin from Stephen Duke and Jeffrey Sayers. The business will be known as J & D Riverton General Store and will specialize in fresh deli products.

March

John G. Simson, Bernard H. Zais, and Timothy W. Carney announced that Simson Brown & Zais merged with Cornerstone Capital Management, LLC, owned and operated by Timothy W. Carney. The new company, Simson Carney & Zais, LLC, is a full-service, one-stop-shop financial and insurance services firm. The South Burlington company offers a full menu of securities of all types, and a selection of fund managers. It also provides corporate and individual clients with access to nearly all life insurance, health insurance, annuity, disability and long-term care companies licensed to do business in Vermont.

Kishore Khandavalli, CEO of Primesoft, a computer software company wih headquarters in Burlington, announced his company’s merger with Goldstone Technologies Limited of Hyderabad, India. Goldstone, a publicly traded company on the Bombay Stock Exchange and the National Stock Exchange in India, has more than 400 employees worldwide, with offices in Germany, England and India. The company also has strategic partnerships with Sun Microsystems, Oracle, IBM and Microstrategy. Primesoft, founded in 1997, provides software solutions for specific client requirements, develops proprietary software products and offers off-site software development as an alternative to on-site personnel services. The company’s offices in Georgia, Virginia and California will assume the Goldstone name while the Vermont office will continue to operate under the Primesoft name.

Horsman of Williston merged with Bergman Graphics of Colchester. The new company will provide digital image creation, asset management and printing. Horsman has moved its equipment and employees to the Bergman facility at 5656 Hercules Dr. in Colchester to provide a fully integrated, high-speed Internet accessible location. Bergman, which opened in 1991, has a location in Nashua, N.H.

February

Joyce and David Wark acquired Tween Lakes Apartments in Fairlee from owners Helen and William Baade. Richard Blanchard of Realty Professionals in brokered the transaction.

Alfred and Anita Cole acquired C&C Supermarket Inc. in Barton from owner Dean Comstock. The Coles own and operate stores in Derby, Orleans, Lyndonville and St. Johnsbury. Richard Blanchard of Realty Professionals in Montpelier brokered the transaction.

Four long-term employees of Illuminee DuMonde purchased the business from owner Christine DuMond and renamed it Vermont HoneyLights Inc. The new owners are Bonita and David Beddard, Shawna Sherwin and Robin Terricciano. Vermont HoneyLights manufactures all-natural beeswax candles and has a retail store in Bristol.

January

Alpha Omega Financial Services Inc. in Essex Junction acquired American Financial Resources in the Champlain Commons in St. Albans, from owner Ben Phipps. Chris Bixby, vice president of financial services, and Julie Hoy, vice president of tax and accounting, will manage the branch in St. Albans. Alpha Omega provides a variety of financial products, including mutual funds, IRAs, general securities and insurance. Robert Hudson is president.

Al and Cheryl Senecal purchased a 5-acre residential property zoned for commercial use and a 65-acre commercial lot from the Estate of Richard Workman Sr. The properties front Colchester Road and Gardenside Lane in Essex. Rich Feeley of Feeley Commercial Real Estate in Burlington brokered the transaction.

Clem and Judy Soutiere sold commercial property with 750 square feet of office space at 205 St. Paul St. and 131-133 Maple St. in Burlington to Transworld Properties Inc. Rich Feeley of Feeley Commercial Real Estate brokered the transaction.