Business Digest January 18, 2013
Flat Iron Caregivers LLC, doing business as Caring Senior Service of Boulder, opened at 1369 Forest Park Circle, Suite 205, in Lafayette. Pat Abernathey is agency director of the company, which is the 50th franchise for 21-year-old San Antonio-based Caring Senior Service Inc. and the second in Colorado; an office in Fort Collins has been open for about a year. The company provides services for homebound seniors including cooking, cleaning, transportation, bathing, dressing and other daily-living needs. The Lafayette office will serve all of Boulder and Broomfield counties as well as parts of Adams and Jefferson counties.
Sport and outdoor fabric company Cocona Inc. said it raised $15 million in new funds, with the H.I.G. Growth Partners global private-equity firm taking a 34 percent stake in the company. Boulder-based Cocona will market its patented drying fabric technology, and build its brand with the new funds. Cocona plans to hire five new people this year to support growth. Craig Burson, H.I.G. Growth Partners’ managing director, will join Cocona’s board of directors. Cocona fabric technology also is used in shoes and sleeping bags.
Michael Gilliland, a founder of Sunflower Farmers Market, was sentenced Jan. 8 in Phoenix to 30 days in jail and one year of probation after pleading guilty to one count of attempted pandering. Gilliland was to serve two separate 15-day jail terms at a Maricopa County Jail location in the Phoenix area. The sentence comes after Gilliland’s 2011 arrest after soliciting sex from a woman whom he believed to be 17 years old. Gilliland resigned from his post as chief executive and chairman of Sunflower Farmers Market after the arrest. He started the natural grocery store chain in 2002. Sunflower was bought by Phoenix-based Sprouts Farmers Market in March.
Virtual office services company Office Evolution recently sold its first franchise to entrepreneur Matt Edgar, owner of EdgarHart LLC in Denver. Financial terms of the deal were not disclosed. Edgar plans to open the first franchise location this summer in the Cherry Creek neighborhood of Denver. An address has not been announced. Boulder-based Boulder Office Partners LLC, doing business as Office Evolution, has eight company-owned locations in the Denver metro area.
Barbee James of Boulder has launched Jezi Jeans LLC to produce a line of matching jean jackets for pet owners and their dogs. James also is owner of Details Design Studio in Boulder, which focuses on “green” interior design. Jezi Jeans’ products will be designed in Boulder, made from cotton grown in Texas and sewn in Los Angeles. James plans to donate 10 percent of profits to causes supporting American veterans. The matching denim dog coats feature a standup collar, Velcro closures and a pocket that displays a paw print, the company brand. The company is named after James’ mini-labradoodle, Jezibella. The brand paw print is a replica of a muddy paw print Jezibella planted on James’ back pocket during a walk. The jackets also feature custom-designed buttons and rivets shaped like dog-bone treats.
During the Invest in Lafayette Holiday Contest, held Nov. 18 through Dec. 31, shoppers visited 159 Lafayette businesses, accrued $57,000 in sales receipts, and submitted 334 entries for a drawing. Contest participants saved four receipts, each totaling $10 or more, from four different Lafayette businesses, and submitted them for a chance to win one of seven gift baskets filled with Lafayette products. Each basket was valued from $300 to $500. Winners of the drawing were Michael Gallagher, Lee Sacry, John Bowlick, Angela Chartier, Robert Higgins, Becky O’Brien and Jenny Conlon.
The city of Boulder’s Planning and Development Services Center will be testing extended business hours and advance appointment scheduling this year. The services center, which had been closed for lunch from noon to 1 p.m. daily, will be open during the lunch hour beginning Monday, Jan. 7. The services center will be continuously open and available to customers from 8 a.m. to 4 p.m. on Mondays, Wednesdays, Thursdays and Fridays; and 10 a.m. to 4 p.m. on Tuesdays. Anyone who enters the services center before 4 p.m. will be served. In addition to the new hours, customers who are working through land-use review and technical document processes will be able to schedule an appointment with a project specialist ahead of time by contacting Karlin Goggin at 303-441-4053 or email@example.com.
NeoMedia Technologies Inc. has granted Progressive Insurance a license to NeoMedia’s patents related to mobile barcode resolution. Financial terms of the deal were not disclosed. Boulder-based NeoMedia (OTC BB: NEOM) is a pioneer in 2-D mobile barcode technology that can transform mobile devices with cameras into barcode scanners. Progressive will use NeoMedia’s intellectual property in its mobile offerings for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles and homes. Progressive, the fourth-largest auto insurance company in the United States, is held by The Progressive Corp. (NYSE: PGR), based in Mayfield Village, Ohio.
Boulder-based Innovo LLC, a provider of mobile-applications software for the hard goods wholesale distribution industry, partnered with San Diego-based Trade Service Co., a provider of standardized product and price information to the electrical, plumbing/PVF, HVACR, and industrial MRO markets. Under the partnership, Innovo will deliver Trade Service-enhanced content through Innovo mobile apps.
Broomfield-based Noodles & Co., a chain of fast-casual restaurants, hired Boulder-based TDA_Boulder as its advertising agency of record, including media. Noodles’ most recent agency had been Carmichael Lynch, Minneapolis. First work, breaking in January, will introduce a Noodles & Co. brand repositioning as “Your World Kitchen,” which will be backed by a $1 million first-quarter budget to include out-of-home, radio, digital, print and in-store advertising and social media marketing.
MERGERS & ACQUISITIONS
Arcady Capital Co., a Wichita, Kansas-based private equity firm, acquired Mountain Molding LLC for an undisclosed amount. Mountain Molding, located on the Interstate 25 frontage road east of Longmont, is a custom plastic injection molding, tool-making and contract manufacturer serving industries including medical-device manufacturers, security and pet products. Arcady Capital Investments I LP, in partnership with management, provided the equity capital. Enterprise Bank & Trust provided the senior debt financing and Fortitude Capital LLC led the subordinated debt financing.
Boulder-based Without Limits Productions bought the long-running Boulder Stroke & Stride race series for an undisclosed sum. The 11-year-old summertime swim-run series has had nationally known athletes such as former Ironman world champion Tim DeBoom and Pearl Izumi-sponsored athlete Cameron Dye, both of Boulder, as participants. The race series is scheduled for 10 weeks starting in June, and features a 1.5-mile swim event and a 5-kilometer run. The company plans to increase participation by spending money to improve various small race details.
Carlile Bancshares Inc. of Fort Worth, Texas, closed on the purchase of Colorado Community Bank on Dec. 28. Carlile paid $65 million to buy Yuma-based Colorado Community Bank’s parent company, Washington Investment Corp. The purchase price was a two-part transaction totaling $65 million, $35 million cash and $30 million in notes. Colorado Community Bank has 17 locations in the state, including one at 351 Coffman St. in Longmont. CCB has $485 million in assets. The bank entered Longmont in March 2010 when it acquired Liberty Savings branches there and in Northglenn. Carlile’s combined assets will be $1.8 billion, with 36 branch locations including 21 in Colorado and 15 in Texas.
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