RESONETICS TO BUY SAES MEDICAL NITINOL BUSINESS FOR $900M
Nashua-based Resonetics has signed an agreement to acquire Memry Corp. and SAES Smart Materials, two subsidiaries of SAES Getters, a conglomerate based in Milan, Italy, for $900 million.
The company said the planned acquisition will expand its nitinol raw material and component manufacturing capabilities. Nitinol is a nickel-titanium alloy that’s used to manufacture a wide range of medical equipment, including stents, catheter tubes, filters, needles, dental files and surgical instruments.
Resonetics said it expects the deal to close this year, pending regulatory clearances and approvals.
Both of the businesses that Resonetics is acquiring are U.S.-based. They have 550 employees and operations in Bethel, Conn., New Hartford, N.Y., and Menlo Park, Calif.
Resonetics already has nitinol centers in San Diego, Calif., and Or Akiva in Israel. It also has facilities in Minnesota and Costa Rica that process nitinol.
TAYMAX GROUP HOLDINGS ACQUIRES 27 MORE PLANET FITNESS OUTLETS
Taymax Group Holdings, a Salembased investment firm and one of the largest Planet Fitness franchisees in the U.S., has acquired Saber Fitness, an operator of Planet Fitness clubs with 27 locations and future development rights throughout California.
The acquisition is Taymax’s fifth since receiving backing from New York City private equity firm Trilantic North America in 2018. The acquisition, in conjunction with the company’s most recent club opening, expands Taymax’s footprint to 150 Planet Fitness locations across North America, the company said.
BANGOR SAVINGS OPENS SECOND MANCHESTER BRANCH
Bangor Savings Bank’s second branch in Manchester is now open and offers a drive-thru.
The new 5,430-square-foot branch stands at the intersection of Queen City Avenue and South Willow Street. The Maine-based regional bank’s first branch in the Queen City opened in downtown Manchester in March 2021.
It is the bank’s seventh branch in New Hampshire, with other locations in Amherst, Colebrook, Concord and Portsmouth. The bank has 67 locations overall, the vast majority in Maine.
BED BATH & BEYOND TO CLOSE KEENE STORE AFTER 3Q DROP IN SALES
After yet another drop in quarterly sales, the troubled Bed Bath & Beyond home goods retailer says it is planning to close about 150 stores nationwide, including one in Keene. Alsop said it would cut $80 million to $100 million and will lay off an unspecified number of workers.
In a Jan. 10 announcement, Bed Bath & Beyond CEO Sue Gove said the move is to close the stores and is being made to “allocate resources according to customer demand.” She said they are on track to close those stores.
As its sales decline and losses grow, the company has been approaching a potential bankruptcy, and it issued a “going concern” warning last week, saying it could run out of funds to cover expenses.
There are currently eight Bed Bath & Beyond stores in New Hampshire, including the one in Keene.
