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Banking & Finance

Retirement clouds leadership succession at regional bank

An early retirement is throwing off leadership succession plans for one of the region’s largest banks. Craig Kauffman, who was in line to take the top job at Orrstown Financial Services next year, retired as of Sept. 30, according to a Sept. 25 securities filing from the bank. Kauffman, Orrstown’s COO, decided to retire due to personal reasons […]

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Credit union to move Harrisburg branch to West Shore

PSECU is seeking permission to relocate its branch in Strawberry Square in downtown Harrisburg to a former FNB branch at 1249 Market St. in Lemoyne, according to a filing by the Department of Banking and Securities. The Harrisburg-based credit union picked the West Shore location, in part, because it is more accessible and convenient, said Adam Stewart, the credit […]

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Community banks in northcentral PA to merge

Mifflinburg Bancorp and Northumberland Bancorp, a pair of small community banks in northcentral Pennsylvania. said yesterday they are combining in a merger of equals valued at $34.2 million. The all-stock deal is expected to close in the first half of 2025. Mifflinburg Bancorp has assets of about $568.5 million and operates seven branches in Mifflinburg, Lewisburg, Millheim, Milton, […]

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Fulton edges past PNC for market-share lead

A seven-county swath of Central Pennsylvania has a new No. 1 when it comes to bank deposits. Lancaster-based Fulton Bank has eclipsed longtime leader PNC Bank for the top share of deposits in Adams, Cumberland, Dauphin, Franklin, Lancaster, Lebanon and York counties, according to the latest data from the Federal Deposit Insurance Corp. As of June 30, Fulton had […]

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Nonprofit lender lands $40M in tax credits to back projects

Community First Fund has been awarded $40 million in new market tax credits, which it can use to support economic-development projects around the region. The credits are awarded annually by the U.S. Treasury on a competitive basis.  Based in Lancaster, Community First was awarded $30 million in new market tax credits last year. Those credits are […]

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Virtual-assistant biz makes third acquisition this year

The virtual-assistant business has been a source of real-world growth for Zirtual, a portfolio company of Lancaster-based investment firm PennSpring Capital. Zirtual closed Friday on the acquisition of Double, a virtual-assistant business based in Brooklyn, New York.  It’s the third deal this year for Zirtual since it was acquired by PennSpring in December. People hire virtual assistants to help […]

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Deal boosts insurance arm for regional bank

Mid Penn Bancorp has snapped up a Dillsburg-area employee benefits firm as it seeks growth for its insurance unit. The Mid Penn unit, which does business as MPB Insurance and Risk Management, started in June 2020, primarily in property and casualty products, according to Rory Ritrievi, chair, president and CEO of the Harrisburg-based bank. The acquisition of Commonwealth […]

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Chase plans Carlisle Pike branch

 Chase Bank, the retail banking arm of financial services giant JPMorgan Chase, is seeking permission to open a branch on the edge of Hampden Commons, a shopping plaza along Carlisle Pike in Hampden Township, Cumberland County.  The bank is leasing a former M&T Bank branch at 5528 Carlisle Pike, according to Brad Rohrbaugh, retail director for York-based Bennett Williams […]

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Regional bank to cut six branches post-merger

Orrstown Financial Services is planning to shed six branches as it seeks to wring cost savings from its recent merger of equals with PeoplesBank parent Codorus Valley Bancorp. The closures, expected to take place in the fourth quarter, will result in a one-time pre-tax charge of $534,000 but yield annual pre-tax savings of about $1.7 million, according to a […]

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Lanco wealth advisory bought by Texas firm

Another local financial advisory has landed in the arms of a larger business. Rodgers & Associates Wealth Advisers, based in Manheim Township, Lancaster County, has been acquired by Bluespring Wealth Partners, an Austin, Texas-based firm that has scooped up more than two dozen wealth management firms since it was founded five years ago. Rodgers & Associates […]

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Fulton to shutter 19 branches

Fulton Financial is closing 19 branches in southeastern Pennsylvania, South Jersey and New York City three months after the bank’s emergency acquisition of failed Philadelphia lender Republic First Bank, a deal that deepened Fulton’s reach in the state’s largest market.  Lancaster-based Fulton is closing 13 of its own branches and six former Republic branches, according to Fulton spokesperson […]

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Orrstown cutting jobs post-merger, but execs see growth ahead

Orrstown Financial Services is shedding about 135 jobs as part of its recently closed merger with Codorus Valley Bancorp, with the majority of the cuts landing in back-office areas such as marketing, technology, finance and risk management, according to bank executives. The cuts stem from overlapping operations of the two banks, Tom Quinn, Orrstown’s president and CEO, […]

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Stake in Rock Lititz company poised to change hands

Goldman Sachs Alternatives, a private equity arm of New York-based finance giant Goldman Sachs, has agreed to purchase a majority stake in TAIT, a live-entertainment production company based at Rock Lititz in Lancaster County.  The seller is private equity firm Providence Equity Partners , which has had a stake in TAIT since 2019. Terms of the deal, which […]

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PennSpring-backed firm scoops up virtual paralegal service

Zirtual, a portfolio company of Lancaster-based investment firm PennSpring Capital, is branching out. The virtual-assistant service has acquired Del.Trust, a company that offers virtual paralegal services to attorneys and law firms nationwide. Terms of the transaction were not disclosed. Del.Trust founder Jaclyn Foster is joining Zirtual as president of its newly established paralegal services division. “She is […]

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Select Medical’s workplace health unit files for IPO

Concentra, the occupational health subsidiary of Mechanicsburg-based rehab chain Select Medical, filed last week for an initial public offering of stock, though many of the details remain to be filled in — including the timing and share price for the IPO. Nonetheless, the filing presents a fairly detailed overview of Concentra, its operations and its outlook on the […]

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Startup nonprofit in Lancaster aims to persuade

Drew Mousetis understands the benefits of employee ownership. As a lead consultant for employee-owned software company Cargas in Lancaster, he enjoyed a sense of financial security that allowed him and his wife to purchase a new home in Lancaster County where they are raising their four young children. “You just can’t really put a value […]

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House panel OKs controversial swipe-fee legislation

In a party-line vote, a House panel approved legislation on June 12 to exempt Pennsylvania sales taxes from so-called swipe fees — the fees assessed to process transactions involving credit cards. Fourteen Democrats on the committee voted for the legislation, House Bill 2394, while 11 Republicans were opposed. The exemption would mean that on a $1 […]

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Construction

PPL eyes $131M power-line project in southern York

Ripples from the data-center revolution are continuing to wash over Central Pennsylvania. The latest ripple is a $131 million project from PPL Corp. designed to upgrade power lines and build a new switchyard in southern York County. The project is designed to improve reliability of the electric system in light of growing demand, including from data […]

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Developer eyes townhomes on former Dentsply campus

It has been nearly a year since the former Dentsply campus in York city changed hands, fueling hopes for the property’s redevelopment. Hopes are now turning into blueprints. Developer York Realty Partners LLC has outlined plans for 62 townhomes on a portion of the 17.3-acre campus. The townhomes, dubbed the Towns at York Creek, would rise on parking lots behind […]

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Court tosses developer’s lawsuit over township fees

Plenty of developers have likely wondered how cities and townships calculate the fees they charge for construction permits. Harrisburg-area developer Triple Crown Corp. took its questions all the way to Commonwealth Court, where it argued that fees charged by Lower Allen Township in Cumberland County for two apartment projects were unreasonable and unconstitutional. The case was […]

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West Shore electrical contractor changes hands

Harrisburg-area business owner Anthony Worrall has added a third company to his portfolio.   The owner of Reynolds Restoration Services and IT services company Everound has acquired SECCO Electric, a commercial contractor based in Lower Allen Township, Cumberland County. Terms of the transaction were not disclosed. In an interview, Worrall said he was interested not in supercharging growth or changing SECCO, […]

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West Shore construction supplier sold

Valley Supply Inc., a Mechanicsburg-area distributor of concrete accessories, fabricated rebar, chemicals and safety products for the construction industry. The company has been acquired by White Cap, a growing, Atlanta-based construction supplies distributor. Terms of the transaction were not disclosed, but Valley Supply will continue under its own name and existing leaders, Harvey Sipe and Linda […]

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Regional projects land state funding

High-profile construction projects around the region are in line for millions of dollars in state funding under grant awards disclosed Friday. Beneficiaries include a proposed sports complex in North York, a residential project underway in Lancaster County and the planned makeover of Harrisburg’s former federal building. They are among more than 400 projects statewide awarded […]

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Pharma giant plowing millions into Lancaster County campus

Life sciences heavyweight GSK is investing up to $800 million into its Marietta-area campus with plans to boost capacity and produce cutting-edge vaccines targeting illnesses like pneumonia and meningitis. The project, described as the British company’s largest-ever investment in U.S. manufacturing, entails construction of a new 300,000 square-foot facility and refurbishment of an existing building, along with […]

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State testing $10M program to boost housing supply

State officials yesterday unveiled a pilot grant program designed to fund mixed-use projects with a residential component. State officials see the $10 million program as a first step in addressing the shortage of affordable housing in Pennsylvania, a shortage that is drawing attention at every level of government. Funding is available for preparing sites for […]

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Mixed-use project is ‘first phase of final phase’ for York tract

Officials in York have toiled for more than two decades to bring development to the Northwest Triangle, a former industrial tract along the Codorus Creek in the city’s northwest corner. They filled in pieces here and there over the years. On Oct. 10, they celebrated what is likely to be the final piece: a mixed-use […]

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Developer appeals ruling that blocks York-area warehouse rezoning

Inch & Co. is appealing a York County court ruling that blocks the company from building a warehouse on land south of Route 30 in Manchester Township. The move continues a nearly two-year-old battle over the 52.7-acre site, which borders the Prospect Hill Cemetery. Some neighbors have opposed the warehouse plans since they became public, […]

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Houck exec aims to bring down suicide risk in construction

After her older brother died by suicide nearly 20 years ago, Kara McCaffrey felt drawn toward efforts to prevent others from following. “It’s just something that I’ve always cared about,” said McCaffrey, whose family owns Houck Group, a regional construction contractor based in West Hanover Township, Dauphin County. The personal became professional when she started […]

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Inch & Co., WellSpan break ground on $35M sports complex in North York

After about two years of planning, Inch & Co. held a ceremonial groundbreaking for a $35 million sports complex in North York, a facility expected to draw hundreds of thousands of visitors to the county each year and spark millions of dollars in economic impact. The event yesterday drew more than 150 guests, including leaders from […]

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Deal broadens reach of equipment dealer

A Harrisburg-area construction equipment dealership is extending its footprint southward through the acquisition of a company with offices in Maryland and Virginia. Stephenson Equipment Inc. said last week it purchased Valley Supply & Equipment, a business founded in 1982 by Howard Klein and last owned by his two sons, Adam and Brandon. Terms of the transaction […]

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$450M project taking shape on former state hospital grounds

The grounds of the former Harrisburg State Hospital are heading for a makeover. The Pennsylvania Department of General Services yesterday unveiled plans to build a $450 million laboratory complex on the 30-acre property, which has been mostly vacant since 2006. The project includes a new $325 million, 300,000 square-foot joint lab to be shared among […]

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Former Harrisburg law office headed for residential conversion

A New York City investor has acquired a former law office on North Front Street in Harrisburg and plans to convert the former mansion into an eight-unit apartment building to be called Front Street Lofts. The investor, a family office called Generational Wealth Organization that also has a presence in California, paid $633,000 for the building. It […]

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Financing is among ‘biggest challenges’ for Lancaster rehab

Business owner Jared Mizrahi is planning a $5 million makeover of a mixed-use property in downtown Lancaster. He just needs to finalize the financing. A big piece came through last month in the form of a low-interest $1.4 million loan from the state’s Building Pennsylvania program, arranged by Lancaster-based EDC Finance. Mizrahi said he is hoping to […]

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Camp Hill firm combines with K.C. peer

Engineering firm Gannett Fleming is roughly doubling in size thanks to a merger with a Kansas City, Missouri-based peer, TranSystems.  Together, the two private equity-backed firms create a business with more than 5,000 employees and annual revenue of about $1.3 billion. Terms of the transaction were not disclosed. For Camp Hill-based Gannett, the deal continues a path of […]

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Nonprofit plans $65M senior-living campus in northern York

Messiah Lifeways is planning to build a new campus in northern York County, with a groundbreaking slated for October.  The campus will occupy 85 acres of farmland tucked into a bend of the Yellow Breeches Creek in Fairview Township, about 10 minutes from Camp Hill. Based in Upper Allen Township, Cumberland County, Messiah paid $5.9 million […]

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Economy

Surveys: Business outlook optimistic but tempered by expectations of slow growth

As elected officials debate another government-led kickstart to the U.S. economy, business leaders are optimistic about their own prospects but resigned to slower growth overall. That’s the gist of two recent surveys gauging the outlook of executives who have spent the last six months grappling with the crippling impact of a pandemic that has taken […]

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entrepreneurship

Food

Lancaster-based nonprofit lender snags $45M in tax credits for projects

A nonprofit lender based in Lancaster has landed $45 million in federal tax credits that it will use to kickstart projects around the region. The U.S. Treasury last week named Finanta, formerly Community First Fund, as one of dozens of recipients this year under the New Markets Tax Credit program, which is designed to lure private-sector […]

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Can regulators prevent sticker shock over data centers?

State regulators are crafting guidelines designed to address one of the chief risks of the data center construction boom — that Pennsylvania residents and businesses get stuck with a hefty tab for building out the substations and power lines that feed electricity to the centers. The guidelines, proposed by the Pennsylvania Public Utility Commission, are currently […]

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Ephrata plaza sold

Lititz-based S&S Singh Partners paid $6.2 million for Ephrata Commons, a 54,810-square-foot shopping center at 385 N. Reading Road in Ephrata, according to county deed records. The seller was an affiliate of New Jersey-based Heidenberg Properties, which paid $6.1 million for the center in 2016, according to county deed records. Heidenberg was represented by Chris Munley, Colin Behr, […]

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Brown Plus

Ryan Harshman and Matt Harvey. They have been named principals at regional accounting firm Brown Plus.  Harshman, based in the firm’s Frederick, Maryland, office, was an audit senior manager. He is now an audit principal. He has a bachelor’s degree in accounting and finance from the University of Maryland. Harvey works remotely from Milwaukee, Wisconsin, and […]

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NJ operator mulls bid for senior living campuses in Central PA

A second suitor is eyeing a bid for the assets of SpiriTrust Lutheran, a York-based nonprofit senior living provider that filed for bankruptcy in November amid rising costs and declining revenue. The potential bidder is Lutheran Social Ministries of New Jersey, which has been managing SpiriTrust’s campuses under an agreement inked in February 2024, according to court […]

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Fulton Bank

Gordon Roder has been named treasurer of Lancaster-based Fulton Bank. Roder previously held leadership roles at Third Federal Savings & Loan, Flagstar Bank and ABN AMRO.  Roder will oversee Fulton’s corporate treasury and asset liability operations and guide the bank’s management of market and liquidity risks while advancing its long-term growth strategy. His hiring is not the only executive […]

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Regional bank agrees to $354M sale

Camp Hill-based LinkBancorp opened in 2018 following a round of consolidation that took out several banks in Central Pennsylvania. Now, with bank mergers again on the upswing, LinkBancorp is on the sell side. Alexandria, Virginia-based Burke & Herbert Financial Services Corp. has agreed to buy the bank in an all-stock deal valued at $354.2 million. The transaction, expected […]

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York County Community Foundation

Cathy Bolliger has been named director of grantmaking for the York County Community Foundation. Bollinger, who has worked at the foundation since 2014, will lead its grantmaking operations from application review through impact measurement, ensuring that every stage of the process advances long-term, equitable progress for York County. During her tenure at the foundation, Bollinger […]

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Penn State Health

Mumtaz Darbar has been named executive vice president and chief transformation officer at Penn State Health, a new role for the regional health system based in Derry Township, Dauphin County. Darbar was previously the system’s chief clinical and academic integration officer, a post she took in 2023. In her previous role, Darbar led efforts to […]

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Trustee seeks liquidation of Heller assets in lieu of reorganizing

The independent trustee overseeing the bankruptcy of Lancaster County business owner Daryl Heller wants to convert Heller’s case from a Chapter 11 reorganization to a Chapter 7 liquidation. It’s a matter of the finances, according to a filing this week by the trustee, Fred Stevens of New York-based law firm Klestadt Winters Jureller Southard & Stevens.  […]

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Boyer & Ritter

Thomas Grossman is joining regional accounting firm Boyer & Ritter as a manager in the firm’s dealership group. An experienced accountant and CPA, Grossman recently worked as senior controller for a Philadelphia-area automotive dealership. He worked for another dealership, as well, over a career of nearly two decades. He also worked as a supervisor for […]

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Carlisle-area steel fabricator sold

Ritner Steel, a steel fabricator based in Middlesex Township, Cumberland County, has been acquired by Cranbrook Partners & Co., a Troy, Michigan-based investment firm that aims to grow the companies in its portfolio. Terms of the transaction were not disclosed.  Cranbrook executives did not reply to emailed questions about the deal, which closed on Dec. 8. […]

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Giant closing ecommerce fulfillment centers in Lancaster, other PA locations

Carlisle-based grocery chain The Giant Co. is closing ecommerce fulfillment centers in Lancaster and four other places in Pennsylvania as it changes its approach to delivering groceries ordered online, a service known as Giant Direct.  Giant is dropping its centralized model in favor of a store-based approach, according to company spokesperson Ashley Flower.  Giant employees […]

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Jobless benefits bill clears final legislative hurdle

Tweaks to jobless benefits in Pennsylvania are heading to the governor’s desk. The state House yesterday followed the Senate in approving legislation that makes it easier for victims of domestic violence to qualify for unemployment benefits and delays benefit cuts that were scheduled to take effect next year. The changes drew bipartisan support, with Philadelphia-area Democratic […]

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Penn State Health

Penn State Health executives John Goodyear and Tara Gardne have been promoted to regional leadership roles for the health system, which is based in Derry Township, Dauphin County. Goodyear has been named regional COO and vice president for Cumberland County hospitals Penn State Health Hampden Medical Center and Penn State Health Holy Spirit Medical Center. He […]

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Court upholds $55M sewer sale amid conflicting takes on customer impact

In 2022, state utility regulators approved the $55 million sale of a Chester County sewer system. A state appeals court overturned the approval in 2023 over concerns that the transaction would boost costs for customers. In a ruling yesterday, Pennsylvania’s highest court reversed the appeals court and approved the deal between Aqua Pennsylvania‘s wastewater arm and the […]

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Land, retail space sold

Fortune Investment Properties LLC paid $2 million for a 57-acre property at 151 Wolfs Bridge Road in Middlesex Township, Cumberland County, according to county deed records. The seller was Carlisle Aerie #1299 Fraternal Order of the Eagles, which used the site as a picnic grounds. The property includes a 6,630-square-foot event center, an additional 1,500-square-foot […]

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Government

PA joins new deal to settle opioid claims against Purdue, Sacklers

State attorneys general, including Pennsylvania’s newly installed Dave Sunday, are taking another crack at settling opioid-related claims against bankrupt drugmaker Purdue Pharma and the Sackler family that owns it. In an announcement yesterday, Sunday and other attorneys general said they reached a $7.4 billion settlement in principle with the company and the family. The deal does not […]

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Regulators spurn requests to revisit permit for hydro project

In a brief notice yesterday, federal energy regulators denied petitions asking them to reconsider their approval of a preliminary permit for a controversial hydroelectric project in York County. The permit was issued last fall to York Energy Storage, a Reading-based company proposing a $2.3 billion pumped-storage energy facility along the Susquehanna River in Chanceford Township. The permit gives […]

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Court backs Harrisburg vape shop in licensing spat

Commonwealth Court has tossed out state rules requiring licensing of companies manufacturing e-cigarettes and the liquids used in them. The court found that the rules gave the Pennsylvania Department of Revenue too much discretion in deciding how they would be enforced. The decision came Friday in the context of a lawsuit filed by East Coast Vapor, […]

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Court backs state claim to insurance fund surplus

For three years in a row, former Gov. Tom Wolf and state lawmakers tried to get their hands on surplus money held by Pennsylvania’s medical malpractice insurer of last resort. The insurer fought back, arguing that, as a private entity, its multimillion-dollar surplus should remain beyond the reach of public officials. Wolf and state legislators […]

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What would it take to end PA taxes on overtime?

President-elect Donald Trump made hay during the campaign with pledges to end taxes on tips and overtime pay.  It’s unclear whether the proposals will gain traction in the U.S. Congress, given their potential cost. But the debate is likely to play out in Harrisburg, as well. In recent weeks, Pennsylvania lawmakers have floated proposals to […]

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State revenue down from decline in gassing up

Pennsylvania may have one of the highest gas taxes in the country, but the levy is delivering shrinking returns, according to a research brief this week from the Independent Fiscal Office, a state agency monitoring budgetary and economic trends.  The culprit is declining gasoline usage in the wake of the Covid-19 pandemic, which pretty much […]

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Court puts business-reporting rule on hold

A federal court in Texas suspended enforcement of a controversial business-reporting regulation four weeks before it was slated to take effect. In a ruling Tuesday, U.S. District Judge Amos Mazzant said the rule is “likely unconstitutional” and issued an order blocking its implementation pending further court review. Adopted under a law known as the Corporate […]

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High court reverses ruling in tax-refund case

Pennsylvania is dodging a fiscal bullet thanks to a ruling handed down yesterday by the state’s highest court. At issue was a corporate taxpayer’s demand for a $2 million refund after a tax structure was declared unconstitutional. The Commonwealth Court ruled last year that the state should pay the refund. But a divided Supreme Court reversed the […]

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Guv aims to speed permits for ‘complex and impactful’ projects

Gov. Josh Shapiro is hoping to ensure ambitious developers have a friend in Pennsylvania — or at least an easier time securing permits for construction. At an event in Philadelphia yesterday, the governor signed an executive order creating a transparent, fast-track permitting program for what are being described as “complex and impactful economic development and infrastructure projects.” […]

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Deal would transfer control of beleaguered Harrisburg apartments

Under a proposed settlement filed in court last week, the owner of an embattled Harrisburg apartment complex is agreeing to cede control of the property to an independent receiver and to convert its bankruptcy case to a liquidation. The deal, which requires court approval, would end a festering dispute between the city and the apartment […]

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Studies see benefit in state-run retirement savings

State-backed retirement plans, which have been proliferating around the U.S., appear to boost savings among workers, according to a study released yesterday. Workers are 20% more likely to contribute to a retirement savings account if they work at a business in a state that has an auto IRA program, according to the study, undertaken by […]

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Guv signs off on new tax-appeal option

Pennsylvania taxpayers are poised to get a new avenue for disputing tax bills they don’t like.  Under legislation signed into law yesterday by Gov. Josh Shapiro, state officials will be rolling out independent mediation as a way to settle tax disputes before they reach state courts. Under previous law, taxpayers interested in a settlement would negotiate […]

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Health Care

Highmark hit by data breach

A phishing attack in December exposed personal information on about 300,000 members of Highmark insurance plans, including about 96,000 members in Pennsylvania. The Pittsburgh-based insurer disclosed the breach last week in a notice to the office of the Maine attorney general. In a statement, Highmark said it “immediately responded” to the incident and launched an investigation. So […]

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Drayer HQ sold to home-care provider

A Lancaster-area home-care company has purchased the corporate headquarters of Drayer Physical Therapy Institute in Swatara Township, Dauphin County. Druk Homecare Services, a home-care provider based in East Hempfield Township, paid $1.7 million for the 20,812 square-foot office building at 8205 Presidents Drive, according to county deed records. Druk plans to relocate to the second floor of the […]

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State ends appeal in medical cannabis recall

State health officials have dropped a legal action seeking to reinstate their controversial recall of medical marijuana vapes. The move before the state Supreme Court doesn’t end the legal fight. It simply means the Department of Health is no longer appealing a lower-court ruling that put the recall on holdNonetheless, it was welcomed by the medical […]

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Rite Aid, WellSpan forge partnership to boost care

Under a partnership announced Aug. 15, Rite Aid and WellSpan Health plan to share data so they can better coordinate care for the roughly 100,000 patients they share in Central Pennsylvania and northern Maryland. They may eventually share space, with York-based WellSpan operating inside Rite Aid pharmacies, according to Chris Bohrer, senior vice president of payer and strategic initiatives […]

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Hershey-area startup acquired by Pittsburgh firm

A Pittsburgh-based life sciences company has acquired Fathom Pharma, a Hershey-area startup focused on developing safer pain medications. As a result of the deal, Fathom is now a subsidiary of Consegna Pharma. Other terms of the transaction were not disclosed.Together, the two companies hope to develop innovative products that treat overdoses, addiction and pain.They rely […]

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Lancaster entrepreneurs aim to tackle school-based mental health challenges

Barbara Grimm, above left, worked with David Cooper to create the School Responder app (photos/submitted). During more than a decade working in the Lampeter-Strasburg School District in Lancaster County, Barbara Grimm saw a growing problem. More and more students needed help grappling with behavioral health issues, said Grimm, who worked in a variety of administrative […]

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Lancaster health lab rolls out welcome mat

After taking a break during the Covid-19 pandemic to focus internally, a Lancaster-based venture formed by some of the region’s biggest players in health care is welcoming its first outside partner in nearly two years:  SkinIO, a Chicago-based company using technology to broaden access to dermatology screenings. People can use the SkinIO app to take […]

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Feds indict York tax preparer on bank fraud

A York tax preparer is facing charges for allegedly falsifying applications from businesses seeking loans under an emergency federal program designed to help businesses meet payroll after the Covid-19 pandemic tanked the economy in early 2020.  The U.S. Attorney’s office in Harrisburg has indicated tax preparer Dommonick T. Chatman on 20 counts of bank fraud […]

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Developer contests sewer fees

A Harrisburg-area developer is sparring with a Lancaster County township and authority over sewer tapping fees assessed on a recent apartment project. In a lawsuit filed at the end of last year, the developer, an affiliate of Lower Paxton Township-based Triple Crown Corp., argues that the fees were excessive, and it demands a partial refund. “They […]

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Groups sue over permit for Susquehanna hydro project

The legal fight over a proposed hydroelectric project along the Susquehanna River is ramping up. Regional conservation groups are asking a federal court to take another look at a preliminary permit granted in November to the $2.3 billion project, which would take up about 1,000 acres in Chanceford Township, York County. The permit allows Reading-based developer York Energy Storage […]

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Borough loses second case over proposed solar array

Gratz, a borough in northern Dauphin County, has lost a second case challenging its opposition to a proposed solar project within its borders. In the first case, decided in October 2023, a state court ruled that the borough failed to properly advertise a meeting where it tightened standards for solar energy systems. The revised standards would […]

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Former business partners Hynes, Taylor settle defamation suit

Former York-area business partners Bill Hynes and Chad Taylor have settled a defamation lawsuit triggered by a 2023 article in Rolling Stone magazine in which Taylor accused Hynes of stealing from him and his fellow bandmates in the rock group Live. The settlement was revealed in a court filing this week in Philadelphia County court, […]

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ATM investors seek access to company office

Investors in Paramount Management Group, the financially insolvent ATM network operator, are seeking access to the company’s former Lancaster city offices in order to inspect paper and computer files on the premises, according to a legal filing last week in Lancaster County Court. The filing follows a story in LNP describing the condition of the abandoned office at 415 […]

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Heller bankruptcy filing met with allegations of fraud

Lancaster business owner Daryl Heller filed for personal bankruptcy on Monday, a move met a day later by allegations of fraud from a creditor allegedly owed more than $8 million. Heller, a principal in all-but-defunct ATM operator Paramount Management Group, filed for Chapter 11 bankruptcy protection in New Jersey, where he owns a beach house. The […]

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Personal liability of ATM company owner at issue

Business owner Daryl Heller is appealing a court order seeking to hold him personally liable for a $2 million civil contempt penalty assessed as part of an investor lawsuit against his company, Lancaster-based ATM operator Paramount Management Group.  The penalty was imposed Jan. 10 by Lancaster County Court of Common Pleas Judge Leonard G. Brown III, who […]

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Lancaster ATM operator agrees to liquidation

During a court hearing yesterday, Lancaster-based Blackford ATM Ventures consented to a petition forcing it into Chapter 7 bankruptcy liquidation. The next step is to appoint a bankruptcy trustee to oversee distribution of the company’s assets. The process is not likely to be straightforward, acknowledged an attorney for Silverview Credit Partners, the Florida-based lender that sought to force Blackford […]

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Bank claims could complicate recovery for ATM investors

Investors hoping to recover money from Lancaster-based ATM operator Paramount Management Group are facing a new hurdle. In a legal filing this month, a Berks County bank claims it has a stake in some of Paramount’s ATMs, as well as any revenue they may be generating. Customers Bank is asking a Lancaster County judge to stay an earlier […]

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Hearing raises new questions for beleaguered ATM network

Is it fraud or a failing business? That was one of the questions hanging over a court hearing held yesterday morning to consider contempt charges against Paramount Management Group, a Lancaster-based ATM network being sued by its investors. The investors want Paramount held in contempt for its alleged failure to abide by a court order issued earlier […]

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Manufacturing

Ratings agency warns on Spring Grove manufacturer

Spring Grove-based paper maker Pixelle Specialty Solutions recently unveiled steps to bolster its finances. But they do not appear to be enough to satisfy a ratings agency concerned about the company’s liquidity. S&P Global initially downgraded the company following the refinancing. The agency then restored the original rating but added a negative outlook, warning that “continued operational weakness could pressure […]

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Spring Grove paper maker shores up finances

Pixelle Specialty Solutions, a specialty paper maker based in Spring Grove, said June 12 it landed “significant new funding” that positions it for future growth. The financing includes amended credit facilities and an infusion of new capital from the company’s private equity backer, H.I.G. Capital.  “With this new support, we are well-positioned to take advantage of […]

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Pallet company buying Chambersburg-area facility for relocation

J&J Pallet and Recycling LLC is planning to purchase, upgrade and move into a 16,400 square-foot industrial building at 1690 Opportunity Ave. in the Cumberland Valley Business Park in Greene Township. The company, which sells recycled shipping pallets, is currently based in leased space at 1051 Sheffler Drive in Chambersburg. The company has been approved […]

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Manufacturer plans $45M innovation center in Carlisle

Building products manufacturer Carlisle Companies is planning a $45 million expansion of its research and innovation hub in Carlisle. The project will entail construction of a 42,000 square-foot building alongside the company’s existing R&D center, which is at 1557 Ritner Highway, according to Carlisle Companies spokesperson Mehul Patel. The site is near the headquarters and […]

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Armstrong World buys specialty manufacturer

Armstrong World Industries, paid $95 million in April to acquire 3form LLC, a manufacturer of architectural resins, glasses and other materials based in Salt Lake City, Utah. Products from 3form, such as acoustic wall tiles, translucent glass and textured wall coverings, are expected to complement existing products from Armstrong World’s architectural specialties division, which accounts for […]

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Steel fabricators expand in York County

The steel-fabrication business is thriving in York County as two companies expand operations there, one from Dallastown and one from Maryland.  Yoe Construction, the Dallastown-based company, is leasing space for a new steel fabrication shop at 775 Lombard Road in Windsor Township, York County.  The 23,142 square-foot shop is an extension of the company’s existing […]

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Lanco steel fabricator sold

A longtime Lancaster County manufacturer is under new ownership. Greiner Industries, a structural steel fabricator in Mount Joy Township, Lancaster County, has been acquired by IES Holdings Inc., a Houston-based company that designs and installs electrical and technology systems for data centers, residential housing and industrial facilities, among other end markets. The acquisition includes the Greiner […]

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Vc firm ups investment in York-area food biz

A York County pretzel maker is looking to boost sales in both new and existing channels following a fresh infusion of venture capital. York-based White Rose Ventures has poured $500,000 into The Pretzel Co., which was founded in 2014 as York City Pretzel Co. White Rose previously invested $250,000 in the soft-pretzel maker, which is based in Manchester Township. […]

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York-area manufacturer makes acquisition

Flinchbaugh Engineering, an employee-owned contract manufacturer based in Hellam Township, York County, has purchased Billet Industries, a precision manufacturer also based in Hellam Township. Terms of the transaction, which took effect Jan. 1, were not disclosed. The acquisition reflects an effort by Flinchbaugh to diversify its business, according to a press release. The company makes […]

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Lanco flooring maker buys Newville firm

Ecore International, a Lancaster-based company that makes flooring from recycled rubber, has purchased a Cumberland County company that collects and refurbishes old tires. The company, Newville-based Ameritread, fits in with Ecore’s goal of reusing and repurposing rubber products but also produces scrap that Ecore can incorporate into its own products. Terms of the transaction were not disclosed. […]

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Lanco manufacturer sold to Texas private equity firm

A private equity firm focused on manufacturing has acquired ATI Corp., a family-owned company that makes equipment used in excavation and site preparation. Terms of the deal with Houston-based LDR Growth Partners were not disclosed. Based in East Earl Township, Lancaster County, ATI had been owned by Jansen Herr. The company — which employs more than 30 people […]

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NEW UNION VOTE ORDERED AT HERSHEY PLANT

To settle allegations that it violated federal law during a union election at a Virginia plant, The Hershey Co. has agreed to a do-over under a settlement with federal regulators. In the original election, held in early 2022, workers at the Stuarts Draft plant rejected joining the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union. But the […]

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Box maker eyes big investments in PA

One of the worlds’ largest recycled cardboard-box makers is planning to plow $500 million over the next decade into its Pennsylvania operations, which include a plant in the Carlisle area. The company is Pratt Industries, which has annual sales north of $6 billion and Australian-born businessperson Anthony Pratt at its helm. In a statement, Pratt said his company’s investment in Pennsylvania […]

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Agency mulls deal for shuttered factory

A subsidiary of the Cumberland Area Economic Development Corp. is exploring an acquisition of a recently shuttered Carlisle factory. The subsidiary, called the Real Estate Collaborative LLC, has signed a letter of intent to buy the plant formerly operated by The Frog, Switch & Manufacturing Co. at 600 E. High St. in the Cumberland County borough. But first, […]

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Marketing

Real Estate

Harrisburg apartment owner asks court to block alleged meddling in bankruptcy sale

The bankrupt property owner trying to sell Governor’s Square apartments in Harrisburg has complained in the past that the city of Harrisburg is thwarting its sales effort, and it’s now asking a bankruptcy judge to intervene. In a court filing last week, Maryland-based Uptown Partners LP asked a judge to order the city to “cease and desist from […]

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Developer sketching in plans for 476-acre Lanco tract

High Associates is starting to sketch in its plans for a 476-acre tract bordering the headquarters of Armstrong World Industries in Manor Township, Lancaster County. The plans, which could change with market conditions, call for a flexible mix of single-family homes, apartment buildings, retail space, industrial space and green space, according to Ken Hornbeck, senior vice president of […]

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Court docs disclose $2.8M offer for bankrupt winery

A potential deal is on the table for Spring Gate Winery in suburban Harrisburg. A buyer named Nitin Patel has offered $2.8 million for the winery, whose parent company filed for Chapter 11 bankruptcy protection in May, according to court records.  The offer sets a floor for other potential bidders in a bankruptcy auction slated to unfold this […]

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Discount retailer buys former Big Lots leases

Ollie’s Bargain Outlet Holdings is scooping up leases for seven former locations of its bankrupt rival, Big Lots. The stores include one each in Georgia, Illinois and Louisiana and four in Wisconsin, according to court documents. The price is about $620,000, subject to potential adjustments by the landlords. “These stores are the right size, located in […]

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Harrisburg-area mall sold for $8.8M

A Massachusetts-based developer is acquiring the Colonial Park Mall, an aging retail complex that local officials hope to see rejuvenated. A partnership headed by the developer, Zi Qian “John” Zhang, paid nearly $8.8 million for the mall, which is at 4600 Jonestown Road in Lower Paxton Township, according to county deed records. Zhang is still […]

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Agency in deal to buy former Carlisle factory

A Cumberland County agency has taken another step toward the purchase of a Carlisle factory that shut down last year. The Real Estate Collaborative LLC, a subsidiary of the Cumberland Area Economic Development Corp., has struck a tentative agreement to buy the Frog, Switch & Manufacturing Co. site at 600 E. High St. in the Cumberland County borough. No […]

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Regional real estate player buys Shippensburg firm

Regional real estate firm Berkshire Hathaway HomeServices Homesale Realty has scooped up Sailhamer Realty, an eight-person firm in Shippensburg. Terms of the transaction were not disclosed. Sailhamer was headed by John Dyson, a son-in-law of the firm’s original founders. The firm’s Shippensburg office will close, and Dyson and the rest of the Sailhamer team will work out […]

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Harrisburg seeks dismissal of apartment owner’s bankruptcy case  

The city of Harrisburg is asking a federal court to dismiss the bankruptcy case of Uptown Partners LP, the Maryland-based owner of the Governor’s Square apartment complex in uptown Harrisburg In a filing last month, the city argues that the deteriorating apartment complex is “unlikely” to find a buyer and that state court would be a […]

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Middletown-area warehouse sells for $170.5M

In one of the largest commercial deals in the region this year, a real estate investment trust paid $170.5 million for a 1.2 million square-foot warehouse in the Middletown area. The warehouse is at 3327 E. Harrisburg Pike in Londonderry Township. The buyer is affiliated with Radnor-based advisory EQT Exeter. The seller was an affiliate of […]

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Apartment owner claims Harrisburg hampering bankruptcy sale

Harrisburg officials are allegedly hindering the sale of a beleaguered apartment complex in the city’s uptown neighborhood, according to claims raised in federal bankruptcy court by the complex’s owner, Uptown Partners LP.  At issue is a list of roughly 600 crucial code violations at the affordable-housing complex, known as Governor’s Square City officials have not shared […]

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West Shore college aims to sell surplus land, buildings

Central Penn College is looking to unload surplus land, townhomes and office space in and around its 58-acre campus in East Pennsboro Township, Cumberland County, through an RFP process overseen by Lemoyne-based RSR Realtors. College officials hope the properties attract developers with proposals that enhance the campus and benefit students. Potential partners could include medical providers […]

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Former cabinet plant sold for $3.3M

A growing metal fabrication company in York County has purchased the former Wayneco Cabinetry plant, which has been idle since the cabinetry business shut down this spring. BMB Holdings LLC paid $3.3 million for the 81,000 square-foot facility, which is at 800 Hanover Road in Jackson Township, west of York city. The new facility is roughly three times […]

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Firms partner on $18.6M apartment project in Lebanon

Lebanon-based construction company Arthur Funk & Sons Inc. is teaming up with a Wisconsin-based developer to build a 48-unit affordable apartment complex on a roughly five-acre plot along Mount Pleasant Road in South Annville Township, Lebanon County A formal groundbreaking is scheduled for July 15, but site work already is underway, said Matthew Padron, managing director […]

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Retail

Technology

Other Categories

Select Medical mulls spin-off of workplace health unit

Mechanicsburg-based Select Medical Holdings Corp. is preparing to spin off its occupational health services division, which does business as Concentra. Select Medical’s board approved the spin-off this week and expects the deal to close in late 2024. Select Medical shareholders would receive stock in Concentra in amounts yet to be determined but in a transaction that is […]

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York, Harrisburg firms on the move

The new year is poised to bring new digs to two local companies. Reynolds Restoration Services bought a flex property in suburban Harrisburg for its new headquarters. York County-based construction firm Wagman also has purchased a building for a new HQ, a property in Manchester Township, York County. Both companies said they are outgrowing their current spaces. Starting with: […]

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Highs donate real estate biz to family foundation

The High family is presenting a second major gift to their family foundation. The family’s ownership of Lancaster County-based High Real Estate Group is being transferred to High Foundation, the foundation announced on Dec. 20. The year-end gift follows the donation last year of High Industries, which was valued at nearly $115.2 million. The value of the real estate company was not disclosed but […]

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Plan unveiled for suburban Harrisburg mall

A Maryland developer has revealed its vision for what will replace the Harrisburg Mall, a longtime suburban destination destined for the wrecking ball. Baltimore-based St. John Properties is proposing a roughly 550,000 square-foot development — dubbed Swatara Exchange — that includes a mix of retail and commercial buildings, with a smidgen of office space. While the plan calls for […]

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Court voids PA carbon-emission rules

A state court has tossed aside regulations that would have enrolled Pennsylvania in a multistate carbon-cutting program, regulations that were a climate-change priority for the former administration of Gov. Tom Wolf. At issue was whether the heart of the program — a market in which companies must buy credits to emit carbon — represented a fee […]

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Brokerage buys capital-area advisory firm

A Harrisburg-area financial advisory has joined the wave of consolidation washing over the industry. Comprehensive Financial Associates, based in Susquehanna Township, has been acquired by insurance and benefits brokerage AssuredPartners, according to a press release from Wise Rhino Group, the M&A firm that advised Comprehensive Financial. Terms of the transaction were not disclosed. But it also includes […]

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Black-owned firms tapped for legal services program

McNees Wallace & Nurick has picked 10 small, Black-owned businesses to receive free legal services in the third annual installment of the Harrisburg-based law firm’s program to overcome barriers to business growth and success. The small businesses, introduced last week at a reception at the King Mansion in Harrisburg, hail from across Central Pennsylvania, as well […]

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Podcast: Childcare challenges

The challenges for childcare providers have not eased since the pandemic. If anything, they have grown steeper, as providers struggle to retain and attract workers at a time of rising wages. But if business leaders have learned anything over the last few years, it is that working parents need access to quality childcare if they […]

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Land-use fights flare across Central PA

The ground may be cold but battles over land use in Central Pennsylvania are heating up. Residents and developers are clashing on several fronts across the region. Not surprisingly, proposed warehouses are among the sharpest points of contention. Large-scale solar projects have triggered outcries, as well. But disputes also have arisen over housing, most notably in […]

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Nonprofit sues bank after alleged account fraud

Fraudsters drained nearly $250,000 from bank accounts of the Center for Independent Living of Central PA, and the Harrisburg-based nonprofit wants its bank, Mid Penn Bank, to refund the money, according to a lawsuit filed last week in Dauphin County court. The Harrisburg-based bank allegedly failed to enforce “commercially reasonable” security controls on the accounts and thus […]

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Court ruling could prompt millions in corporate tax refunds

Thanks to a recent court ruling, the commonwealth of Pennsylvania could be on the hook for more than $100 million in tax refunds to businesses. The ruling came in a case that arose over provisions outlining how companies can use past losses to lower their tax bills. Some corporate taxpayers have claimed, successfully, that provisions […]

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Local agencies win money, role in new small-biz funding program

State officials fired the starting gun and now economic-development officials across Central Pennsylvania are off to the races. In an announcement Sept. 13, the Department of Community and Economic Development unveiled the local agencies that will play a role in distributing $246.7 million to small businesses statewide under a federal program called the State Small […]

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Lancaster firm pitches high-tech approach to tracking Covid-19 risk

Contact tracing is turning into a mess rather than an effective tool to stop Covid-19. People aren’t cooperating, contact tracers are becoming overwhelmed and the virus continues to spread at a record rate. “It’s almost like we’re at a dead end with that approach,” said Victor Owuor, chief product officer at Lancaster-based investment firm Aspire […]

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York-area manufacturer gears up for life, uncertain economy after shutdown

When its doors reopen this month, York County manufacturer Weldon Solutions will be proceeding with caution: The company plans to bring back a portion of its 40 workers at a time.  “I want to see what it looks like to bring more and more people in,” said Travis Gentzler, Weldon’s president. “I don’t want to […]

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