The total consideration from the recorded deeds indicated a collective price of just under $17 million for the six purchased properties. Lorrie Hecker, Director of Communication – Marketing & Refining for Hess Corporation told NewEnglandBusiness.com, “for competitive reasons” full financial terms of the transaction could not be disclosed.

The eleven sites, all of which include convenience stores, were quickly rebranded Hess. The company plans to hold grand openings in the spring to welcome customers and introduce the firm’s product line.

Hess is one of the leading independent gasoline-convenience retailers on the East Coast with 1,370 stations and convenience stores in 14 states including more than 100 sites in Massachusetts.

According to Hess company spokeswoman Lorrie Hecker, “The Hess team is excited about the opportunity to serve additional customers and expand our market presence on the Cape. Christy’s is one of the premier gasoline retailers on Cape Cod, and they share Hess’ commitment to providing customers with exceptional service and value. We see this as a strong fit with the Hess brand promise, and we are delighted to add these Christy’s sites to the Hess retail portfolio.”

All indications are that Christy’s Markets will continue to independently pursue gasoline-convenience stores projects intiated in 2008 which are located in Dennis and Chatham.

The well known Tinder Box store located in Mashpee Commons next to Starbuck’s Coffee, sold for $175,000.  The acquisition also included a satelite location at a local golf course. The transaction was facilitated by Greg & Cindy Holmes of Kinlin Grover GMAC Commercial who represented both the buyer and seller.

The Tinder Box is a national franchise operating as Tinder Box International and currently includes a network of 148 stores located throughout the United States. In 1928, company founder Edward Kolpin opened the first Tinder Box store in Santa Monica CA.

The 1,200 square foot retail store (known as Tinder Box #399) specializes in the sale of cigars, pipes, lighters, humidors, gifts and an interesting assortment of smoking-related accessories.  In addition to offering traditional and exclusive cigar lines, the Mashpee store features a 30 foot humidified cigar wall and an 8′ x 12′ walk-in humidor, along with its popular smoking room with a large screen television, wet bar (BYOB) and convenient humidified lockers for its customers.

The Sullivan’s intend to continue The Tinder Box tradition of providing their growing number of loyal customers the finest in smoking products, gifts, accessories and expertise available on Cape Cod.

OEST augments AMEC’s ability to provide mechanical, electrical and structural engineering and architecture services, which are strategic to the continued growth of AMEC’s business with the U.S. Federal government.  The acquisition also bolsters AMEC’s civil engineering design and sustainable design resources in the U.S. and provides additional Leadership in Energy and Environmental Design (LEED) skills.

Harvey Oest, President and founder of OEST, said: “By joining AMEC we will add value for our clients and our staff.  As part of a growing and dynamic global organization, clients will have access to a broader array of services and our staff will see new technical and professional opportunities open up across the nation and abroad.”

The acquired company will continue to operate as OEST Associates, Inc. for a short interim period, until the necessary business, architecture and engineering licensure conversions to AMEC are completed. 

AMEC provides consultancy, engineering and project management services to the energy, power and process industries. With annual revenues of over US$4 billion, AMEC designs, delivers and maintains strategic and complex assets for its customers. AMEC’s Natural Resources, Power and Process and Earth and Environmental businesses employ over 23,000 people in more than 30 countries globally.

The purchase includes all stock of the corporation from the Estate of Jean Daum, the copyrights and trade dress of the publication and all existing franchise agreements in force in 32 countries.  Manitoba, Inc. will continue operations in Winnipeg, Manitoba where Coffee News has been publishing for 20 years. Manitoba, Inc. reported 1142 franchises in force as of July 31, 2008 in 32 countries. 

Jean Daum founded Coffee News in 1988 after realizing restaurants were missing an opportunity to provide patrons with some entertaining reading while they waited for their food. Coffee News was launched and according to the company, it has become both the world’s largest restaurant publication and franchise publication with an estimated readership of over 8 million weekly readers.

Community based-businesses purchase exclusive advertisements in Coffee News targeting restaurant patrons as they dine.  Participating restaurants receive weekly quantities of the publication free of charge and Coffee News does not allow restaurants to advertise for competitive reasons.

“We are thrilled to have Walsh Electric Supply in Rutland join the NESCO family and look forward to working with the associates to strengthen our presence in Vermont,” stated Gregory Wilson, President of NESCO. “Walsh has an excellent reputation for high-quality customer service, and we look forward to providing even greater levels of service through the resources of a larger organization, including a regional distribution center and the latest technology.”

Founded in 1953, Walsh Electric Supply is a family-owned and operated electrical distributor serving contractors and industrial and commercial accounts. The Rutland branch, in operation for 25 years. is a full-service branch with approximately 7,900 sq. ft., including 1,400 sq. ft. counter operation and 6,500 sq. ft. warehouse. Bill Mangan will continue as branch manager of the newly named Yankee Electric Supply branch in Rutland.

NANTUCKET, MA – Intercontinental Real Estate Corporation a national real estate investment, development and management firm headquartered in Boston, MA, announced the acquisition of the Marine Lumber Company in Nantucket, MA. The acquisition was made on behalf of Intercontinental’s U.S. Real Estate Investment Fund, LLC.

Marine Lumber, established in 1944 as a lumberyard, is a building materials supplier and retailer while also offering a host of additional products including appliances, bed and bath supplies, home decorating supplies, flowers and plants, furniture, and clothing. The company also operates two Massachusetts hardware stores located in Sandwich and South Yarmouth, and a warehouse in Hyannis, MA to service the operation. In addition to the operations of Marine Lumber, Intercontinental also acquired twenty-two residential properties and all of the underlying real estate which includes approximately 4 acres on the Nantucket Harbor waterfront.

Peter Palandjian, Chairman and Chief Executive Officer at Intercontinental stated, “The acquisition of Marine Lumber provides us with the opportunity to acquire a mature, market leading building materials and retail center in one of the premier destinations on the east coast. The underlying real estate included in the acquisition is protected by highest-barrier zoning rendering it irreplaceable. Marine Lumber boasts an exceptional management team with vast experience and a deep devotion to the company.  We are thrilled to join their team.”

Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management, and asset management. The company has developed, managed and owned over $4 billion in real property assets across all property types including commercial, mixed use, hotel, recreational and residential projects.  Presently, Intercontinental owns and manages a portfolio in excess of $2.2 billion for its clients and is actively seeking opportunities to invest in core, core plus as well as value oriented development projects.

For Eastern Insurance, the acquisition increases its customer base west of Boston, where it already has eight locations. In all, Natick-based Eastern Insurance has 26 locations in eastern and central Massachusetts and parts of Connecticut and New Hampshire, making it New England’s largest independent insurance agency.

The expertise and services available to clients of Kittredge, particularly in the areas of commercial and benefits insurance are expanded by the merger. In addition, Eastern Insurance is the largest personal lines agency headquartered in Massachusetts.

Eastern Insurance, headquartered in Natick, is a subsidiary of Eastern Bank, the largest independent, mutually owned bank in New England with branches stretching from Merrimack Valley to Cape Cod. Eastern Insurance serves more than 70,000 individuals and businesses and provides a full range of personal and commercial insurance products, surety, and employee benefits services, including group health and life insurance and 401(k) administration.

Business Management Group, a subsidiary of The Hartford Financial Services Group (NYSE: HIG), served as advisor to Kittredge Insurance Agency, Inc. in this transaction.

PARIS, KY – Monessen Hearth Systems Company (MHSC), a manufacturer of fireplace, stove and hearth products has acquired key assets of CFM Corporation which include the Vermont Castings and Majestic Fireplaces brands.

The asset purchase agreement was approved by U.S. courts on June 30, 2008 and Canadian courts on July 3, 2008. CFM Corporation’s U.S. and Canadian operations have been under creditor protection since April 9, 2008, when protective orders were granted under Canada’s Companies’ Creditors Arrangement Act and under Chapter 11 of the U.S. Bankruptcy Code. CFM Corporation has continued to carry on business during the restructuring period.

Under the terms of the purchase agreement, MHSC will acquire CFM Corporation’s operations and assets in Bethel, Vermont and Randolph, Vermont. The assets purchased include plants, machinery, equipment, receivables, inventory, certain contracts and intellectual property, among other specific items. MHSC also acquires all shares held in the capital of CFM Mexico (Temcomex S.A. de C.V.).

Based in Ontario, Canada, CFM Corporation manufacturers hearth, space heating, barbecue and outdoor grill products in North America. Monessen Hearth Systems Company is a North American supplier of fireplaces, stoves, hearths and related remote technology products. Established in 1993 as a regional manufacturer of vent-free logs, MHSC is a full-line supplier of hearth products. 

Webb Research, located in E. Falmouth, Mass., is the world’s leading manufacturer of autonomous underwater gliding vehicles, as well as autonomous profiling drifters and floats. Terms of the transaction were not disclosed.

Webb Research adds autonomous underwater vehicle systems to Teledyne Marine’s portfolio of marine electronic subsystems, including acoustic modems, acoustic and inertial navigation systems, acoustic Doppler current profilers and subsea electrical and optical interconnect solutions. Webb Research’s gliders are autonomous underwater vehicles (AUVs) that use changes in buoyancy in conjunction with wings and tail steering to convert vertical motion to horizontal, and thereby propel the system on a programmed route with very low power consumption. Applications of gliders range from oceanographic research programs to military persistent surveillance systems and mobile nodes for subsea communication networks.

In fiscal year ended December 31, 2007 Webb Research had sales of $12.2 million. After the closing, the acquired business will operate under the name Teledyne Webb Research.

Teledyne Technologies is a Thousand Oaks, California based provider of sophisticated electronic subsystems, instrumentation and communication products, engineered systems, aerospace engines, and energy and power generation systems. Teledyne Technologies’ operations are primarily located in the United States, the United Kingdom and Mexico.

POCASSET, MA - Hydroid, Inc. a manufacturer of Autonomous Underwater Vehicles (AUVs), announced today the company’s acquisition by Kongsberg Maritime. The sale was announced in December 2007 pending U.S. Government approvals.

Kongsberg Gruppen is headquartered in Kongsberg, Norway and is a technology group with over 4,400 employees in 25 countries. The company has two divisions, Kongsberg Defense and Aerospace, and Kongsberg Maritime of which Hydroid will join. Kongsberg Gruppen reported revenues of approximately $1.6 billion in 2007 and is listed on the Oslo Stock Exchange and traded under the ticker
KOG.

“The acquisition of Hydroid is within Kongsberg Maritime strategy to expand in the rapidly growing market for AUV-based operations through a broader portfolio of products, wider presence in the market and focused R&D efforts,” stated Rolf Arne Klepaker, Kongsberg Maritime Subsea Executive Vice President.

Hydroid was established in 2001 to manufacture, support and further develop the REMUS Autonomous Underwater Vehicle (AUV) technology, originally developed, and licensed from, the Woods Hole Oceanographic Institution. Located in Pocasset, Massachusetts, Hydroid offers a range of REMUS vehicles, including systems rated for 6,000 meter operations, and has delivered over 150 systems in the past seven years.

All the HUGIN vehicles and the REMUS vehicles can be customized for many applications which include: hydrographic surveys, mine counter measure operations, harbor security operations, environmental monitoring, debris field mapping, marine geological survey, inspection of underwater engineering structures and pipelines, search and salvage operations, fishery operations, and scientific sampling and
mapping.

In a separate press release issued by Axia Advisors, the Burlington MA based firm announced its advisory role in connection with the $80 million sale to Kongsberg Maritime. 

Chris von Alt, President and CEO of Hydroid, LLC, stated, “As a Kongsberg company, Hydroid will continue to improve the products and services we offer, so they will be of greater value to our customers. This strategic fit is very important to our shareholders, and we are grateful to Axia Advisors for their contributions to this remarkably successful outcome.”