Each year, Upstate Capital highlights the achievements of people and companies investing and building companies across New York through the Annual Celebration. We recognize and celebrate the most interesting deals and most active dealmakers at our Annual Awards Celebration. This year’s event will be held at the Harro Ballroom in Rochester on December 11, 2024.
More than 50 companies received nominations this year. Nominations came from individual submissions and screening deal flow information from the past 12 months. Winners were selected by the Upstate Capital Board of Directors. The board considered whether the company received a nomination from an individual, ties to Upstate Capital members, impact on the local community and regional economy, and overall contribution to their industry in their deliberations.
Here are the Board’s top choices for recognition this year:
Private Equity Exit: Sidco Filter
Sidco Filter, based in Rochester, has undergone a remarkable transformation since being acquired by Fairchild Capital Partners in 2019. The company expanded its workforce from 30 to 130 employees and increased revenue from $4 million to $22 million through key acquisitions. Sidco’s growth has strengthened the Western New York manufacturing sector and contributed to local economic vitality. Its recent acquisition by UK-based Cleanova Filtration, completed on July 22, 2024, enhances Sidco’s industry position and global reach. This strategic journey highlights the power of investment and makes Sidco a strong candidate for the Investment of the Year award.
Venture Deal: Ognomy
Dr. Rifkin and the Ognomy team had an impressive year, achieving over 3X revenue growth and treating more than 11,000 patients. The company successfully closed its Series Seed, raising nearly $5 million to date. With seed funding led by Impellent Ventures in August 2024 and support from major sleep industry leaders Inspire and ResMed, Ognomy is on track to reach profitability and serve patients across all 50 states by the end of the year. Notably, Launch NY and several other local and national investors have also participated in this funding round.
Impact Investment: Top Seedz
Top Seedz received a $750,000 investment from the WNY Impact Investment Fund, marking its only external funding outside of 43North. The company has experienced remarkable growth, with rapid revenue expansion and significant hiring, all culminating in the opening of a new manufacturing facility in downtown Buffalo. As a women-owned and women-founded business, Top Seedz is making waves in the local economy and beyond.
Dealmaker: Todd Kletter
Todd Kletter of WP Strategic Holdings is recognized as this year’s Dealmaker of the Year for his decisive leadership and strategic actions in the acquisition and revitalization of Crane Stationery. When Crane Stationery was abruptly shut down in February, Todd quickly took action, engaging Crane’s parent company within hours to initiate critical discussions that would eventually save the historic brand. His partnership with Fedrigoni Group, which had acquired Crane’s assets, was pivotal in securing the future of the 230-year-old company.
With deep knowledge of Crane from his prior roles as COO and consultant, Todd was instrumental in preserving over 90% of jobs, directly saving 75 positions. His swift, 28-day deal process, combined with his personal outreach to customers, ensured a seamless transition and the company’s immediate return to operations. Todd’s leadership, experience in mergers and acquisitions, and dedication to preserving brands with strong legacies make him the epitome of a true dealmaker.
Lifetime Achievement: Joe Richardson
Joe Richardson has dedicated his career to advancing funding opportunities for entrepreneurs, beginning as a commercial banker and later as a co-managing partner of Eastern NY Angels. Throughout his remarkable career, Joe has supported countless startups, offering not just financial backing but also his time, guidance, and expertise. Known for his generosity and commitment, Joe has made a significant impact on the investment ecosystem in Upstate New York, often working behind the scenes without seeking recognition. His lifelong dedication to fostering entrepreneurial success makes him a deserving recipient of the Lifetime Achievement Award.
Join us on December 11 to celebrate the accomplishments of our network! Register today.