Upstate Deals and Doings
Deals, news and events for the investment community across Upstate New York.
KEN MEHLMAN, HEAD OF KKR GLOBAL IMPACT, TO KEYNOTE SARATOGA
Ken Mehlman of KKR will join us at the #SaratogaForum as Wednesday’s keynote speaker, sharing his insights on
POPULISM, GEOPOLITICS AND SMART INVESTING. More at SaratogaForum.org
Here are some highlights from the most recent deals done in Upstate New York
- FabForeDev, a Tappan-based designer of mobile applications created to provide seamless user experiences and true automation, raised $50,000 of angel funding
- Quadrant Biosciences, a Syracuse-based developer of medical screening devices designed for translating science into innovative assessment and diagnostic solutions, received $330,000 of grant funding from the National Institutes of Health, and raised $450,000 of Series B venture funding
- OmniSeq, a Buffalo-based developer of molecular therapy technologies designed to improve access and better cancer treatment options through comprehensive molecular profiling, raised $1.57 million of angel funding
- New York Bus Sales, a Chittenango-based supplier of buses, was acquired by Girardin USA for $10 million
- Mend Products, an Amherst-based operator of cannabidiol stores, was acquired by Jushi
- Integra Optics, a Latham-based provider of optical transceiver products and solutions, was acquired by Infinite Electronics, via its financial sponsor Genstar Capital
- MBMS (New York), an Amherst-based developer and provider of technology solutions for custodians and warehouse lenders, was acquired by American Mortgage Consultants, via its financial sponsor Stone Point Capital
- LSC Environmental Products, am Apalachin-based manufacturer of environmental products and equipment designed to address the persistent environmental challenges of erosion, odor, land reclamation, waste cover, seeding and dust, was acquired by Ancor Capital Partners
- Employee Benefit Concepts, a Buffalo-based provider of human capital management services, was acquired by USI Insurance Services, via its financial sponsors Kohlberg Kravis Roberts and Caisse de dépôt et placement du Québec
- Kosco Heritage Energy, a Kingston-based distributor of residential heating systems, was acquired by HOP Energy, via its financial sponsors Delos Capital and ShoreVest Capital
- Pierce Industries, a Rochester-based manufacturer of industrial rollers designed to reduce production time and material costs, was acquired by Enbi
- Goose’s Diesel Truck Parts & Service, a Pleasant Valley-based provider of maintenance services for trucks and trailers, was acquired by FleetPride, via its financial sponsors American Securities and ACE & Company
Have a deal you’d like to share? Submit it here!
Buffalo receives top grades nationally for its strong Opportunity Zones. According to National Opportunity Zone data provider InvestReal, the OZ tract that includes Canalside and the Medical Campus ranks better than almost all other zones in the nation on income growth rate.
Albany-based Hugh Johnson Advisors completes merger with Bender Lane Advisory, forming JNB Advisors. The two firms have $1.8 billion of assets under management. Join Hugh Johnson at this year’s Saratoga Forum, and hear his 2019 Economic Outlook.
A Rochester firm won the $1 million top prize in the second-annual Luminate NY competition for its specialized contact lens.Ovitz, a startup led by a University of Rochester graduate, beat out nine other finalists from across the region and around the world.
UPSTATE CAPITAL EVENTS
- August 7-8 – Saratoga – The Saratoga Forum – The Saratoga Forum is an exclusive event with great content for current and future CEOs, venture capitalists, middle market debt & equity investors, limited partners, venture-backed and second-stage entrepreneurs & angel investors. Come to Saratoga for exceptional networking at the historic Canfield Casino and a day at the races at the Saratoga Racetrack. Register today!
- September 12 – Saranac Lake – North County Innovation & International Connections – Upstate Capital to host investors, entrepreneurs and advisors to beautiful Saranac Lake for an event to highlight the Upstate innovations. Hear about the North Country’s transportation industry from a conversation on leading, global suppliers with manufacturing in the region. Registration is open!
- September 26 – Williamson – The Future of Food – Upstate Capital is hosting its second annual event to highlight food and agtech innovation in Upstate New York. This event will bring together members of the business and entrepreneurial communities to meet food and agtech investors and startups. Save the date!
July 10 – Rochester – RocGrowth Candids – This bi-monthly event features regional entrepreneurs who share their personal stories and the lessons they’ve learned building successful businesses. This event features Nasir Ali, Managing Director of StartFast Venture Accelerator, and Marnie LaVigne, CEO of Launch NY.
July 16 – Ithaca – Women in Tech & Entrepreneurship – This networking night at REV Ithaca features Ursa, a company that has achieved gender parity, which is a remarkable feat for a tech company. A panel featuring Ursa’s female leaders will include tips for promoting diversity and inclusion in an organization.
September 20 – Verona – 2019 Upstate Unleashed Conference – Join UVC, partners and over 400 entrepreneurial leaders. Meet the top CEOs of Upstate NY’s fastest growing companies, and celebrate startup ecosystem builders across our region.