Mergers & Acquisitions

2003

December

Kevin D'Arcy of Pomerleau Real Estate was the listing broker in the sale of a property at 336 North Ave., Burlington. Charlie Poulin of Pomerleau assisted in the transaction. The seller was Planned Parenthood of Northern New England Inc.; the purchaser was Bernard Beaudoin.

Tim Burke of David G. White & Associates Inc. announced the sale of Kimel Broadcasting Group property in St. Albans. The 3.5-acre site was sold to Murphy Realty Co. for $800,000. Burke represented the owners, David and John Kimel, in the transaction. Steve Reid of Brookfield Development Co. represented Murphy Realty.

Linda I. Letourneau of Redstone was the listing and leasing broker representing the owner, Kennedy Professional Associates LLP, in the leasing of a 2,000-square-foot medical office space at 150 Kennedy Drive, South Burlington, to David McGovern, DPM.

Rowe Trust purchased a 3,900-square-foot building and an adjacent lot at 46-48 Main St., Winooski, from LBJ Partnership. Jed Dousevicz of V/T Commercial assisted both parties in the sale and will represent the new owners with leasing.

November

Linda I. Letourneau of Redstone was the leasing broker representing Interstate Commodities Inc., and Esther Lotz of Highpoint Realty was the listing broker representing the owner, Connolly Storage Facilities, in a lease transaction of 800 square feet of office space at 4 Andrews Drive, Essex Junction, to Andy Clark of Interstate Commodities.

Champlain Landworks, a landscaping business, leased 1,000 square feet at Noyes Tire on Pine Street in Burlington. Jed Dousevicz of V/T Commercial assisted both parties in the transaction.

Linda I. Letourneau of Redstone was the listing and leasing broker representing REM Development Co. LLC in a lease transaction of 10,000 square feet of office space at 5 New England Drive, Essex Junction, to Drake, Beam and Morin.

Steve Donahue and John J. Rao III of Pomerleau Real Estate represented Burlington Interstate Center, the owners of Staples Plaza, in the leasing of 6,930 square feet to Verizon Wireless. Tony Blake of V/T commercial represented the tenant.

Tony Blake of V/T Commercial announced that Computer Sciences Corp. leased 9,072 square feet of office space at 32 Lakeside Ave., Burlington, from Blodgett Corp. CSC is a contractor for the Burlington General Dynamics offices.

Tim Burke of David G. White & Associates Inc. of Burlington represented Northfield Savings Bank in its leasing of the former Skateland property on Vermont 2A near Taft Corners in Williston. Greg Dirmaier of J.L. Davis Realty represented the landlord, Taft Corners Associates Inc.

Steve Donahue of Pomerleau Real Estate represented Burton Snowboards in the leasing of 4,000 square feet at 27 Kilburn St., Burlington, to Hummel America Inc.

Bill Kiendl of V/T Commercial assisted Pat Finnegan in the sale of the Bourbon Street Grill in Burlington. Jed Dousevicz of V/T Commercial assisted the purchasers, Adam and Jill Spell. The Spells own and operate La Villa in Shelburne.

October

Doug Nedde and Larry Williams, the principals of Redstone, bought 3,200 acres, a 61-room hotel, a 36-space parking garage and a private water and sewer company serving 240 residential/commercial customers in Bolton. The sellers were Ned and Carolyn Hamilton of Holiday Resorts.Linda I. Letourneau of Redstone was the listing and leasing broker representing Parolini Enterprises Inc. in the transaction of 450 square feet of office/service space at 46 Pearl St., Essex Junction, to Resa Williamson.

Duncan S. Harris of Redstone was the listing broker representing Chittenden Solid Waste District, and Esther Lotz of Highpoint Realty was the leasing broker in the transaction of approximately 2,000 square feet of industrial space at 195 Flynn Ave., Burlington, to American Motorcycle Service & Repair.

Danaher Custom Services Inc. leased 3,000 square feet of warehouse space at One Industrial Parkway in Burlington from Ryan Enterprises. Linda I. Letourneau of Redstone was the listing broker; Esther Lotz of Highpoint Realty was the leasing broker.

Rosarch Healthcare Corp. leased 1,245 square feet of office space at 43 Krupp Drive in Williston from New England Air Systems. Douglas C. Nedde of Redstone was the listing broker; Duncan S. Harris of Redstone was the leasing broker. Harris also represented Platt Realty, procuring the tenant in the lease of 813 square feet at 4049 Williston Road, South Burlington, to Rosarch.

Linda I. Letourneau of Redstone was the listing and leasing broker, representing Champlain Commercial Properties Investment Group LLC in the lease of 718 square feet at 162 Battery St., Burlington, to John S. Linger.

September

Tony Blake of V/T Commercial assisted both the landlord and the tenant in the leasing of 1,300 square feet of office space to Eagle Network Solutions at One Lawson Lane in Burlington. Eagle Network Solutions will provide telecommunication and integration services to the U.S. Department of Defense.

The Multiple Sclerosis Society Vermont Chapter has leased 1,891 square feet of offices at the Talcott Professional Building, 75 Talcott Road, Williston, which will be home to the chapter's offices. Tony Blake of V/T Commercial represented the landlord, and Bob Edwards of Hickok & Boardman Commercial Realty assisted the tenant.

45 Avenue D LLC, owned by the owners of Holyoke Equipment Co. Inc., has bought a commercial building at 45 Avenue D in Williston, formerly The Body Works, from Investors Corp. of Vermont Inc. After renovations, the building will become the location for Holyoke's Burlington-area facilities, in operation since 1997. The distributor of commercial food-service equipment and supplies employs nine full-time staff members. Rich Feeley, a broker with Feeley Commercial Real Estate, represented the buyer, and Barb Surprenant, broker with ICV Realty, represented the seller.

Jeff Bitco sold his Danville utility line construction company, J.N. Bitcon Enterprises, to Alomax Technologies. John Beal of Vermont Business Brokers was the listing broker; Sharon Beal of Vermont Business Brokers was the selling broker.

The Essex Learning Center, LLC, leased 3,655 square feet of office space at 528 Essex Road in Williston from Mark A. Farrell and Brian D. Farrell. Linda I. Letourneau of Redstone was the listing and leasing broker.

George F. Adams, a Stowe wood products manufacturer, was sold by its owners, the Adams family, to Pride Manufacturing. John Beal of Vermont Business Brokers was the listing and selling broker on the transaction.

Ancient Graffiti of Middlebury, a national garden, home decor and giftware supplier for catalogs and retailers owned by Patricia Santenello, was bought by DU LLC, an Illinois corporation. Sharon Beal of Vermont Business Brokers was the listing and selling broker.

Tony Blake of V/T Commercial represented Kraft Foods North America in the sale of a 25,350-square-foot industrial property formerly occupied by Nabisco Foods at 40 Sears Lane, Burlington. The property was purchased by Robert Cooper, who plans to lease the facility for light industrial and/or office use. Larry Williams of Redstone represented the buyer.

Frederick and Joan Solomon sold Roy's Housing Inc., a franchised modular-home dealership in Highgate Center, to Paul and Martha Jansen. John Beal of Vermont Business Brokers was the listing broker; Sharon Beal of Vermont Business Brokers was the selling broker.

Kathy Hale sold Tony's Tack Shop in South Burlington to Dina Marcotte. John Beal of Vermont Business Brokers was the listing broker; Sharon Beal of Vermont Business Brokers was the selling broker.

Tim Burke of David G. White & Associates Inc. of Burlington announced the sale of The Inn on the Common in Craftsbury Common to James and Judith Lamberti for $1,032,000. The Lambertis were the innkeepers at The Inn at Essex. Burke represented the sellers, Michael and Penny Schmitt. Dan Petherbridge of CBI represented the buyers.

Vermont Chocolatiers of Lyndonville was sold by Jim and Frances Barhydt to Jane Delia. John Beal of Vermont Business Brokers was the listing and selling broker.

August

Yankee Dollar Stores Inc. has signed a five-year lease on 5,000 square feet at the Ethan Allen Shopping Center on North Avenue in Burlington. Tim Burke of David G. White & Associates Inc. of Burlington represented the landlord, Hauke Realty, in the transaction. Yankee Dollar has 30 stores throughout Vermont and New York.

Doug Nedde of Redstone was the listing and selling broker representing Catamount/Milton Co. in the transaction involving two commercial buildings and 1.5 acres of land at 204 and 210 U.S. 7 in Milton to Jamie Parent of TransParent Enterprises Inc.

Steve Reid of Brookfield Development Co. in Brookfield announced that AutoZone leased 8,000 square feet in the former A&P Shopping Center in Essex Junction. The space previously housed Hathaway's Tae Kwon Do and Vermont Camping Supply. Hathaway's has relocated to a newly refurbished location in the center. AutoZone plans to open the store in September. Brookfield Development Co. is the broker/manager for the property owner, Hannaford Bros. Co. Tim Burke of David G. White & Associates Inc. of Burlington assisted with the lease transaction.

John Freeman , owner of Small Boat Exchange, bought an 1,800-square-foot commercial building and 2.3 acres of land at the corner of U.S. 7 and Martindale Road in Shelburne, the former location of 1st Seasons Greenhouses. Doug Nedde of Redstone was the listing and selling broker representing the seller.

Two Brothers Inc. purchased The Duds 'n Suds self-service laundry at 20 Kilburn St., Burlington. Two Brothers, owned by the Bove family, has renovated the space. Rich Feeley, broker with Feeley Commercial Real Estate, represented the buyer, and John Stimets, business broker with CBI, represented the seller in the transaction.

Doncaster consultant Susan Bennett of New Haven Mills has merged her business with the Duo Dressing agency owned by Sue Lackey of Essex Junction and Virginia Keyser of Charlotte. Doncaster, a division of Tanner Companies, is the largest direct seller of women's fashions in the United States. 453-5300 or 425-7171.

Westminster Development Co. bought the former Griswold property at 1220 Shelburne Road in South Burlington. The company is building a 5,400-square-foot Advanced Auto Parts store scheduled to open this year. Michael Simoneau of Hickok & Boardman Commercial Realty was the listing broker; Tim Burke of David G. White & Associates Inc. of Burlington assisted the purchaser.

Duncan S. Harris of Redstone represented Right Consulting, a national career-transitioning consulting firm, in the lease transaction of 1,200 square feet at 72 Helena Drive in Williston. Hillary Mead of J.L. Davis was the listing broker in the transaction.

Eric Farrell and Elizabeth Dilley of Redstone represented Frank Donath in the sale of a two-unit apartment building at 25 S. Union St. in Burlington to William and Maureen Post. Maureen Post, a Realtor with Lang Associates, represented herself and her husband in the transaction.

Saffire Mortgage Inc. has leased an additional 1,000 square feet of offices at 1193 South Brownell Road, Williston, to accommodate its rapid growth. Linda I. Letourneau of Redstone was the leasing broker, and Doug Nedde of Redstone was the listing broker in the lease transaction. Pictured (from left) are Nedde; Tom Wright, Saffire's CEO; Colin Schmidt, Saffire's president; and Letourneau.

July

Elizabeth Dilley of Redstone represented Shedd More Inc., d.b.a. Middlebury Fence Co., in the sale of its building at 400 Williston Road in South Burlington to Interstate Maintenance Cleaning Corp. Bob Edwards of Hickok & Boardman Commercial Realty assisted the buyer. Interstate Maintenance also has an office in Barre.

Evan and Melissa Jacobsen have bought the Graniteville General Store, a deli and convenience store on the Rock of Ages Granite Quarry, a historic site that boasts the world's largest active granite quarry. The Jacobsens plan to expand the business to include an ice cream counter and a dine-in area for deli customers within the next year. CIT Small Business Lending Corp. financed the purchase.

June

William P. Brady of Williston and James M. Dolan of Lincoln have bought McLure Moving and Storage Inc. in Essex Junction. In business for more than 85 years, the company recently celebrated its 50th anniversary as an agent for NorthAmerican Van Lines. Brady and Dolan previously held positions at Bombardier Capital.

XCEL University, the nonprofit division of XCEL Above & Beyond LLC in South Burlington, has taken over local organization of the Burlington International Games. The games, which began in 1969 as a friendly competition between sports teams from Burlington, Vt., and Burlington, Ontario, have grown to include teams from Burlington, Iowa; Myrtle Beach, S.C.; and Itabashi, Japan. They feature more than 900 athletes ages 10 to 17 competing in up to 20 sports. Scott Aldrich, XCEL's director of athletics, said this year's games will take place Aug. 1 through 4 in Iowa.

The Green Mountain Club recently acquired 1,079 acres in the town of Bolton from Bolton Valley Holiday Resort. The purchase was made to protect a two-mile section of Vermont's Long Trail, the nation's oldest long-distance hiking trail.

May

Jim and Judy Lamberti, for years the innkeepers at The Inn at Essex, have bought the Inn on the Common in Craftsbury Common. Purchase of the inn is the fulfillment of the Lambertis' long-held dream to operate a small, country inn in Vermont. They plan to renovate the inn's restaurant and open it for the first time to the public for fine dining. 585-9519. innonthecommon.com.

Kidder Metalworking of South Burlington was sold by Tridyne International Inc. to the newly formed Kidder Manufacturing Inc. The business has manufactured and sold hydraulic metal bending, stamping and punching machines since 1902. John Stimets of Country Business Inc.'s Burlington office managed the transaction.

Union Bankshares Inc. announced the planned merger of its two subsidiary banks, Union Bank of Morrisville and Citizens Savings Bank and Trust Co. of St. Johnsbury under the name and banking charter of Union. Union Bankshares acquired Citizens in December 1999, and each subsidiary bank has operated semi-autonomously under the bank holding company.

April

Gene Lauer has purchased the interest of his partner, Andrea Morgante, in the Hinesburg landscaping firm Siteworks Inc. Lauer and Morgante are two founding partners of Siteworks. Lauer, along with Richard Hopwood of Hinesburg, will continue to offer the same comprehensive design, planting and construction services that Siteworks has provided for 25 years.

Bauer, Anderson & Gravel announced its merger with the law offices of Samuel L. Griffis in Putney. The firm will maintain the office at 63 Main St. in Putney and the phone number, 387-4620. The merger will broaden the firm's area of practice in Vermont and will allow Griffis to offer expanded legal services.

Motion-tracking manufacturer Ascension Technology has added 75 years worth of magnetic-tracking expertise to its company by hiring the entire staff of Internav Inc., an Essex Junction company that dissolved at the end of 2002. In the course of its five years in business, Internav developed a number of custom tracking solutions for its medical clientele, which Ascension expects to use in developing "new tracking products that can be used anywhere by anyone at any time," according to Ernest Blood, Ascension's president.

March

Tom Sawyer Development LLC has purchased the 45-unit Woodland Apartments in Bristol from Woodland Apartments LLC for $1.373 million. Rich Feeley, broker with Feeley Commercial Real Estate, represented the seller, and Mike Simoneau, broker with Hickok and Boardman Commercial Realty, represented the buyer.

Vincent and Diana Gauthier sold Valley Rent-All, a Waitsfield and Waterbury tent and equipment rental company and real estate firm, to James and Benedict Kohl. The listing broker was John Beal of Vermont Business Brokers ; the selling broker was Sharon Beal of Vermont Business Brokers.

Mad Mountain Tavern in Waitsfield was sold by John and George Morris to Douglas Yewdell. John Beal of Vermont Business Brokers was both listing and selling broker.

Tim Hultgren bought Resort Homes Inc. in Warren from Hugh Krisko. The listing broker was John Beal of Vermont Business Brokers ; the selling broker was Sharon Beal of Vermont Business Brokers.

Fletcher/CSI, a competitive intelligence consulting firm in Williston, has acquired Sale-IQ, an Atlanta sales intelligence company with a state-of-the-art call-data center and proprietary data collection survey programs. The acquisition makes it possible for Fletcher/CSI to deliver quantifiable sales, marketing and strategic intelligence to its clients, making the firm the only global CI consultant with an in-house scripted call center. Sales-IQ will be a division of Fletcher/CSI. Rick Reynolds, Sales-IQ's senior vice president, will head up all related Fletcher/CSI call-data center and survey sales, marketing and business operations. Fletcher/CSI's managing directors are'Eric Glitman and Steven Levy.

February

Kevin Camp, Patrick Camp and Michael Dunne recently purchased Wastewater Technologies Inc. Formerly of Saxtons River, the company, which sells and services alternative septic systems and related equipment across new England and New York, was moved to renovated offices and expanded warehouse space in Milton near Catamount Industrial Park. 19 Precast Road, Milton. 893-6581. WTI@wastewatertechnologies.com.

Harold Blank and Merrill Jarvis, partners in Maple Tree Cinemas 10, and Steve Berini of Starwood Ceruzzi at a groundbreaking ceremony marking the start of construction of Building A at Maple Tree Place, the theater's future home. The theaters will seat 1,600 and occupy the second floor of the building, leaving the ground floor for retailers, including Champion USA, a sports entertainment restaurant and Three Tomatoes Trattoria. The theaters are expected to be open to the public in 2003. Engelberth Construction will serve as general contractor for the building.

S&S Gagnon Inc., a corporation owned by Scott A. and Sylvia Gagnon, purchased Potvin Real Estate & Rentals in Barre from Marcie Greenwood. Scott, who has been affiliated with Potvin Real Estate for more than three years, will run the business. Sylvia works for the state of Vermont and will manage rentals part-time. 36 Summer St., Barre. 479-2630.

John W. Ellison, DO, has bought Champlain Valley Eyecare in Essex Junction. He renamed the practice Apple Valley Vision Center. Champlain Valley Eyecare was opened in 1972 by Robert Drury as Drury Optical and has been a continuous eyecare practice since then. All of the medical records for more than 15,000 patients were purchased. The staff will continue on. Changes include new designer lines of eyewear and a larger selection of high-quality frames. Ellison, who has managed more than 500 laser patients, has added co-management of laser surgery to the practice, which offers eye care services for the family with special emphasis on children's vision. 55 Main St., Suite 1, Essex Junction. 879-0256.

January

James Quinn (left) and Robert Quinn purchased a 3,900-square-foot, multi-tenant retail building on Vermont 100 in Waterbury for investment purposes. Doug Nedde of Redstone was the listing and selling broker representing the owners, F&G Associates.

Vermont Federal Credit Union merged with EBC Employees Credit Union in November. The merger was prompted by EBC's need for more comprehensive products and services, which can be provided by Vermont Federal. EBC is located inside the Energizer Battery Corp. in St. Albans. While Vermont Federal will maintain a limited presence in the EBC building, all financial activity will take place in VTFCU's St. Albans branch.

Roland and Jean Lafreniere sold their Barre furniture manufacturing business, Vermont Snowshoe Furniture, to Kevin Moore. John Beal of Vermont Business Brokers was the listing broker; the selling broker was Sharon Beal of Vermont Business Brokers.

Trans-America Hydroseeding, a commercial grass-seeding company, was sold to Marti Montour by Yvon Montour. John Beal of Vermont Business Brokers was the broker.

Robert and Gale Issenberg bought Illumination Consulting Supply Services from Josef Knoff. Sharon Beal of Vermont Business Brokers brokered sale of the energy-efficient lighting distributor in Jeffersonville.

Steven Prue of Isle La Motte purchased Foreign Car Repair of South Burlington from William Warner, who founded the repair business, specializing in Saab and Volvo cars, nine years ago. A factory-trained technician, Prue has been with the company for five years.

The sale of SB Electronics of Barre, which we reported in our August issue, was brokered by John Beal of Vermont Business Brokers.

The Burlington Housing Authority purchased a six-unit apartment and garage at 693 Riverside Ave. in Burlington from Electrion Inc. Rich Feeley with Feeley Commercial Real Estate in Burlington brokered the transaction.