Upstate Deals and Doings
May 2, 2019
Deals, news and events for the investment community across Upstate New York.
 | Angel investors gained insights and connections for early stage investing. More than 300 student entrepreneurs competed in the NYBPC and winners were awarded over $85,000 in prize money. Read the E^3 & NYBPC recap. |
DEAL HIGHLIGHTS
Here are some highlights from the most recent deals done in Upstate New York
Maya Kaimal, a Rhinebeck-based provider and marketer of prepared premium Indian foods, received development capital from North Castle Partners
Ceipal, a Rochester-based provider of a human-capital management platform intended to fulfill business’s human capital management needs, raised $1.25 million of seed funding in a deal led by Code Cubitt
Combate Americas, a Larchmont-based owner and operator of sports franchise services intended to provide mixed martial art fighting events, raised $20 million of venture funding from Joseph Plumeri, Cliff Sobel, John Howard and others
Omni-ID (ProVIEW solutions), a Rochester-based provider of material flow management solutions for manufacturing, was sold to Panasonic
PE Controls Services, a Tuckahoe-based provider of Automatic Temperature Control and HVAC contracting services, was acquired by Atlantic-Westchester
Broadfield Group, a Warwick-based provider of insurance services, was acquired by Peter C. Foy & Associates
OnCore Golf Technology, a Buffalo-based developer of hollow metal core golf ball designed to improve the game of golf, raised an undisclosed amount of angel funding from Gary Player
Fieldbrook Foods, a Dunkirk-based manufacturer of frozen desserts in the eastern United States, was acquired by Wells Enterprises
Power Performance Industries, a Yonkers-based provider of backup energy solutions maintenance services to residential, commercial, and industrial customers, was acquired by GenServe, via its financial sponsor GenNx360 Capital Partners
VanDeMark Chemical, a Lockport-based manufacturer of specialty chemicals and phosgene based products, was acquired by Comvest Partners
Astro Media, a Cottekill-based provider of digital marketing solutions, was acquired by SutherlandGold
LD Vision Group, a Buffalo-based online retailer of eye-wears, was acquired by Hardy Capital Partners
REM-tronics, a Dunkirk-based manufacturer of electronic components intended for aerospace, medical, defense, and industrial applications, was acquired by Gowanda Components Group, via its financial sponsor Addison Capital Partners
Have a deal you’d like to share? Submit it here!
INDUSTRY NEWS
JPMorgan Chase & Co. will commit $500,000 toward the launch of a new partnership that brings together four community development financial institutions to help support small businesses in Buffalo and Rochester. As a group, Excelsior Growth Fund, Launch New York, PathStone Enterprise Center and Westminster Economic Development Initiative will provide small business loans, equity financing and free one-on-one business advice.
State legislative leaders announce $33.2 million in State funding to assist NY’s agricultural industry. Some of the programs funded include $4.088 million for Cornell University Education and Outreach programs, $5.887 million for Agricultural Development programs, such as Taste NY, Grow NY, NYS Brewers Association and more, $10.9 million for Ag Access and Education programs and $2.035 million for the Farm Viability Institute.
The Public Authorities Control Board voted to approve $300 million in state grants for the IBM AI Hardware Center and $125 million for a partnership with Applied Materials at the SUNY Polytechnic Institute campus in Albany. IBM plans to invest $2 billion at SUNY Poly to open a new augmented intelligence research and development center, called the AI Hardware Center. The grants through Empire State Development will go to the SUNY Research Foundation to buy and install equipment.
UPSTATE CAPITAL EVENTS
May 15 – Buffalo – Buffalo 2019 PE Summit – Join the Private Equity and M&A investment community for the Buffalo PE Summit. Hear from industry leaders in PE and M&A and enjoy networking at the Pierce Arrow Automotive Museum, representing Buffalo’s storied history of growth, prosperity and innovation. Discounted tickets available until Monday – Register today!
June 6 – Upstate Down Pitch Day in NYC – Join Upstate Capital and Alliance Bernstein to meet startups from Upstate New York who are innovating in healthtech, construction tech, cleantech, e-commerce and more, and are raising seed and Series A funding to fuel growth. We’re curating startups now, targeting those with meaningful funding and customer traction in place (apply to pitch here). We’re also curating investors – seed and series A active investors interested in funding compelling startups based in Upstate New York (register here).
June 12 – Rochester – Investor Connections for Medtech Innovators – Upstate Capital partners with MedTech Association to connect with Upstate New York medtech leaders, innovators, capital providers and advisors in Rochester. Learn why med-tech offers some of the best opportunities and returns for investors. Register today.
COMMUNITY EVENTS
May 13 – Buffalo – A FuzeHub Solutions Forum: Medical Device Manufacturing – Take advantage of the growing opportunity in New York State’s medical device industry, and elevate your medical device business with the help of NYS resources at FuzeHub’s Solutions Forum for NYS Manufacturers. Meet with curated resources focused on helping suppliers of ceramics for advanced manufacturing, optics, electronics and software for medical devices and applications, tackle today’s most pressing issues.
May 20 – Buffalo – Angel Capital Association’s (ACA) Fundamentals of Angel Education – Join Launch NY, Buffalo Angels and Techstars as they host Angel Capital Association’s Fundamentals of Angel Education Workshop. This half-day intensive accredited investor workshop is designed for new angels and accredited investors interested in a deep dive into angel investing. Upstate Capital is hosting the reception.
June 5 – Herkimer – The Manufacturing and Agriculture B2B Showcase – Don’t miss an opportunity for regional agricultural manufacturers and others to showcase their company as an exhibitor; network with peers, find potential business partners, suppliers & customers, connect with regional and state resources, and hear from some of the area’s key business leaders on important industry topics.