Upstate Deals and Doings – November 20th, 2017

Deals, news and events for the investment community across Upstate New York

Ambrell's Lessons Learned

Leveraging private equity helped this Rochester manufacturing company retain over 80 jobs in Upstate New York. Find out more.

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  • Patriot Federal Bank, a Canajoharie, N.Y.-based savings association, was acquired by Kinderhook Bank. 
  • Agronomic Technology, a Monsey, N.Y.-based, operator of Adapt-N: a cloud-based recommendation platform that offers a precision nitrogen management solution for farmers and agronomists. Agronomic was acquired by Yara International. The acquisition will enable Yara International to implement their farmer-centric strategy and expand their position in Digital Farming. 
  • Bonadio Group, a Rochester, N.Y.-based accounting, business advisory, and management consulting company, announced that it has finalized a merger with Vincent J. Muffoletto, CPA, a  western New York CPA firm. 


  • Onsite Wheel Repair, a New Windsor, N.Y.-based wheel repair service company,  was acquired by Alloy Wheel Repair Specialists, via its financial sponsor Soundcore Capital Partners, through an LBO.
  • Bytronics, a Rochester, N.Y.-based company that provides software solutions to the energy, utility, municipality and contract locator industries and the maker of DigTrack One Call ticket management software, was acquired by IRTH Solutions, via its financial sponsors Crane Investment Co. and Bregal Sagemount.

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Industry news

Upstate capital events

  • 2017 Innovation Celebration - December 12 - Syracuse.  Featuring GENIUS NY's top finalists, CNYBAC startups, keynote speech from Ana Dutra, national expert on corporate governance, and an expert panel discussion on building an effective Board of Directors for startups and established companies. d business leaders from across the region.
  • Investment Year in Review - January 18 - Buffalo. The event will feature an analysis of upstate NY investment trends with our data partner, Pitchbook.
  • Immigrant Entrepreneurship - February 7 - Ithaca. The Intersection of Immigration and Business with leading expert Steve Yale-Loehr. 

Community events

  • Commercialization Academy DEMO DAY - November 30 - Rome. Griffiss Institute and Wasabi Ventures present the four startups of the Fall 2017 Commercialization Academy cohort as they pitch to a panel of judges and a live audience on the companies they have built around Air Force Research Laboratory Information Directorate (AFRL/RI) technology.
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