Massachusetts is among the many states in which Hostess breads and snacks were at one time iconic foods until the company’s bankruptcy in 2012. Now, a business sale has been approved by the court that will allow the company to liquidate the last of its major lines of products, bringing the sale price for the…
Kinetic Concepts buys MoMelan Technologies
Kinetic Concepts, Inc., a medical technology company, announces its purchase of MoMelan Technologies, a company that uses skin-graft technology for outpatient epidermal graft procedures. Kinetic hopes that this business reorganization will give it the impetus needed to meet objectives regarding surgical outcomes. Cambridge-based MoMelan emerged as a spin-off company from the laboratories created by a…
Biopharmaceutical firm to dissolve and liquidate assets
The biopharmaceutical company Myrexis has announced its intention to dissolve its company and offer its assets in a business sale. This announcement comes after approval by the board of directors. After liquidation, the company intends to distribute all cash to its shareholders outside of the funds needed to pay reasonable expenses. The company will file…
DD Insurance Agency purchased by RSC
Brokerage firm Risk Strategies Company has announced its purchase of Massachusetts-based D&D Insurance. Through this business sale, RSC hopes to increase its coverage in personal lines of insurance and expand its area presence in the market. D&D’s founder will join the new company as vice president and is tasked with expanding the firm’s lines of…
Health club chain 24 Hour Fitness for sale
Forstmann Little is a private equity firm that owns the fitness club chain, 24 Hour Fitness, having originally acquired the health club chain seven years ago for $1.6 billion. Though there are no locations in Massachusetts, 24 Hour Fitness is currently the largest privately held chain of fitness centers, consisting of approximately 425 locations throughout…
2011 Mass. Innovation Technology Exchange winner purchased
Modiv Media, aka MobileLime, was acquired by Florida-based Catalina Marketing Corporation for an undisclosed amount of money, the companies announced today. Modiv, the Quincy-based mobile marketing business, was the Massachusetts Innovation & Technology Exchange Best Commerce Game Changer winner last year. Modiv’s applications reportedly influence millions of shoppers each month. Their mobile apps are said…
Massachusetts utility regulatory approval still needed
Neighboring Connecticut utility regulators have approved the $5 billion acquisition of Boston’s NStar by Northeast Utilities. Once approval is garnered from the Massachusetts Public Utilities Regulatory Authority, the merger would create the largest New England utility owner and provider, serving nearly 4 million electric and gas customers in 632 communities. The plan has been in…