A publicly traded hotel company founded in Harrisburg is going private in a deal valued at roughly $1.4 billion.Hersha Hospitality Trust, now based in Philadelphia, has agreed to be acquired by KSL Capital Partners, a Denver-based private equity firm that specializes in travel and leisure businesses. Under the deal, KSL is paying $10 per share for […]
State authorities on Friday disclosed what they say was a widespread bank-fraud operation in Central Pennsylvania that drained nearly $2 million from the accounts of victims.Two men have been arrested in connection with the fraud but a criminal complaint lists nine other people.More charges are expected, according to the Pennsylvania attorney general’s office, which is […]
The city of Harrisburg spent about $150 million on contracts for goods and services between 2017 and 2021.Slightly more than 7% of the total went to Black-, women- veteran-, and other minority-owned contractors, according to estimates in a study published last fall on contracting disparities in Pennsylvania’s capital. If spending had been in line with the […]
Can Central Pennsylvania become a hub for innovations in telemedicine and other health care technologies?That’s the hope of a new consortium coming together to craft a plan for getting us there. The group includes a who’s who of local economic development agencies, health systems, colleges and private-sector players, including Lancaster-based Emerald Asset Management and Siemens Medical Solutions USA. But […]
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, the collaborative […]
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 an […]
Two Lancaster-based digital marketing agencies have come together as one. But for now, they are continuing to operate under their existing names.The firms are YDOP and WTM Digital, which offer similar services but for different clients. YDOP, which trademarked the term “near-user marketing,” works primarily with companies around ther U.S. seeking locally focused digital marketing. WTM Digital, formerly […]
Kinsley Properties and Royal Square Development & Construction have formed a joint venture to convert a vacant office building in downtown York into a 43-unit apartment.The 38,000 square-foot building is the former Fox Bakery at 204 N. George St., not far from WellSpan Park. Construction on the $7 million project began this week and is expected to wrap up […]
Rising interest rates. A push back to the office. The boom in ecommerce and warehousing.Plenty of factors are influencing the real estate market nationally. But what is the market like locally?John Birkeland of Rock Commercial Real Estate, Jason Phillips of Coldwell Banker Realty and Shanna Terroso, CEO of the Realtors Association of York and Adams […]
Two years after christening a brand-new headquarters in Cumberland County, West Shore Home has opened its third corporate office.This one is an 82,000 square facility in the Dallas suburb of Irving, Texas, that includes office space for more than 120 employees. “West Shore Home is growing at an explosive rate and this is the next step in our goal to […]
At a meeting June 6, York city council approved plans for a 140-unit apartment building in part of an area known as the Northwest Triangle, a zone that has long been targeted for redevelopment.The plans were pitched by Statewide Partners LLC, a regional developer with offices in Harrisburg and York. “We think that this project is the first […]
When people hear about data breaches, they may think the solution is more and better technology: How high can we build that firewall?After all, it is technology that creates the conditions for data breaches to arise and compromise your personal information.The solution, however, lies in people, according to Dr. James Norrie, who spoke in late […]
Contractors typically face some liability for issues that arise after they finish their work for a property owner.A Supreme Court ruling this week potentially expands that liability.In a split opinion, justices ruled that a contractor could be held liable for allegedly defective work even if the property owner knew there was a problem.Under previous legal interpretations, […]
WellSpan Health is partnering with a Texas company to open three mini hospitals in York and Cumberland counties that will focus on providing emergency care.The regional health system is still finalizing the locations of the new facilities, said Dr. Anthony Aquilina, executive vice president and chief physician executive for York-based WellSpan. But, he said, they will […]
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 as […]
Amid a wave of consolidation in the financial planning sector, Lancaster-based Domani Wealth has been purchased by a larger firm based in Illinois.The acquisition is the fourth this year for the firm, Savant Wealth Management, which is based in Rockford, west of Chicago. Terms of the deal were not disclosed but Domani will keep its existing leadership, advisers […]
Merit Marketing, a Harrisburg-based advertising and marketing firm, filed last month for Chapter 7 bankruptcy, setting it on a path to liquidation.“The economic times are such the company is unable to survive and operate profitably,” Merit owner Adam Vasquez wrote in an email to biznewsPA. Vasquez has owned the company since 2015, when the firm […]
Two capital-area factories are slated for closure as their parent company reconfigures its supply chain to boost profits in the face of slower sales and high U.S. overhead.New York-based Griffon Corp. said it plans to close Hampden Township and Harrisburg factories that make garden tools, wheelbarrows and other equipment for The AMES Companies, a Griffon subsidiary and longtime staple of […]
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