Edited by Scott Morgan
Leases Signed
Lamitech Inc., 322 Half Acre Road, Cranbury 08512; 609-860-8037; fax, 609-860-8580. Adam Reiser, general manager. Home page: www.lamitech.com.
Lamitech, the largest paperboard conversion and manufacturing concern in the Northeast, has signed a long-term lease for 80,223 square feet of manufacturing and office space on Half Acre Road.
The deal, facilitated by Colliers Houston, is another sign that the flagging Exit 8A industrial submarket is still alive. At least 4,000 square feet of the site will be used for office space.
Though based in Massachusetts, Lamitech has had a presence in central New Jersey for years. The move to Half Acre Road brings the company in from Edison.
Lamitech’s presence breathes life into a market that has seen its vacancy rates rising steadily for more than two years. Colliers Houston reported that the company “was able to take advantage of the competitive pricing currently being negotiated in the Exit 8A marketplace,” but did not release the amount of the lease.
Sabinsa Corp., 20 Lake Drive, Twin Rivers, East Windsor 08520; 732-777-1111; fax, 732-777-1443. Kavita Subramanian, senior manager. Home page: www.sabinsacosmetics.com.
Sabinsa, which researches and develops natural extracts for the pharmaceutical and nutraceutical industries, has purchased 20 Lake Drive, a 33,800-square-foot office building in Twin Rivers, from Hazlet Enterprises for an undisclosed amount.
Hazlet, a commercial real estate firm formerly headquartered at 20 Lake Drive, had owned the building since 1991. Doug Twyman and Robert Casagrande of commercial real estate firm Colliers Houston, represented Hazlet in the sale.
Thurin Atelier, 210 Nassau Street, Princeton 08540; 609-924-2153; fax, 609-924-2154. Home page: www.thurinatelier.com.
Wedding gown and evening dress designer Thurin Atelier has leased 3,375 square feet at 210 Nassau Street, in the space once occupied by Bijan Gallery, a rug retailer.. The space will be Thurin’s retail storefront. Karen Anderson represented broker Weichert Realty; Thurin represented itself in the transaction.
Acquisitions
Budco (formerly Direct Group), 1595 Reed Road, Pennington 08534; 856-241-9400; fax, 609-818-9619. Don McKenzie, vice president. Home page: www.budco.com.
Budco, a Michigan-based marketing firm, has acquired two divisions of Direct Group.
Direct Group, headquartered in Pennington, has several locations in the state. According to Budco, the firm acquired Direct Group’s database management group in Piscataway and the distribution center in Robbinsville, each of which will become Budco.
Budco’s main business is fulfillment services on warranties and manuals for the auto industry, though it also works with the pharmaceutical, retail, travel and leisure, and transportation industries.
According to Crain’s Detroit Business Journal, Budco’s annual revenue has hovered around $100 million, and it expects the acquisition to add another $20 million to $30 million and add 75 employees to its headcount.
No changes are expected in staff here.
Neither company specified the amount of the transaction. Direct Group president Don McKenzie will now serve as a vice president in Budco. Terry Niles will remain president of Budco in Michigan.
Ronson Consumer Products, 178 Ridge Road, Dayton 08810-; 732-438-0320; fax, 732-438-0657. Bob DeMatteo, manager. Home page: www.ronsoncorp.com.
Zippo, the lighter manufacturing giant based near Pittsburgh, announced on February 3 that it had completed its purchase of nearly all assets of Ronson Consumer Products.
The deal, for an undisclosed sum, has been in the works since last year, when Ronson Aviation, a related company, was bought by Hawthorne Corporation of South Carolina. Ronson Aviation, based at Trenton-Mercer Airport, is not part of the deal with Zippo.
Ronson Consumer makes various lighters, butane-fueled torches, flame accessories, and cleaning products for auto, home and marine use, and Zippo plans to continue marketing the Ronson product line under the Ronson name.
DNP Green Technologies, 53 Dorann Avenue, Princeton 08540; 609-945-1729. Jean Francois, president. Home page: www.dnpgreen.com.
DNP Green Technologies, a specialty chemical company with a sales office on Dorann Avenue, has acquired a controlling stake in Philadelphia-based Sinoven Biopolymers.
Sinoven, which has a manufacturing plant in China, has proprietary technology for modifying polybutylene succinate, a biodegradable plastic.
The acquisition is DNP’s first major foray into China. It is based in Europe and has regional offices in the United States (see U.S. 1, January 10).
Crosstown Moves
Princeton HealthCare System Foundation Inc., 3626 Route 1 North, Princeton 08540; 609-497-4190; fax, 609-497-4991. Joseph E. Stampe, vice president. www.princetonhcs.org.
Princeton Healthcare Management Services, 4 Princess Road, Suite 207, Lawrenceville 08648; 609-734-7601; fax, 609-844-1092. Rosalie Fox, executive director.
The philanthropic and support arm of Princeton HealthCare System has consolidated its offices to 3626 Route 1.
Princeton HealthCare, in the midst of building a new hospital site in Plainsboro to replace the one on Witherspoon Street, is realigning its operations.
This site, however, is expected to be the permanent home of the foundation, even after the new hospital opens at the end of 2011.
The foundation supplants princeton HealthCare Management Services, which now operates at 4 Princess Road in Lawrenceville.
PT Billing Solution, 100 Tamarack Circle, Montgomery Knoll, Skillman 08558; 609-356-0417; fax, 609-228-4445. Sanjay Patel, product specialist. Home page: www.ptbillingsolution.com.
PT Billing Solution, which provides digital billing services for businesses, has moved from Village Boulevard to Montgomery Knoll.
Villeroy & Boch USA Inc. Tableware Division, 3A South Middlesex Avenue, Monroe 08831; 609-578-4300; fax, 609-655-2405. Bernard W. Reuter, president.
The world’s largest manufacturer of ceramic products has moved its offices from Vaughn Drive to Monroe, beside its distribution center.
New Media Partners, 4390 Route 1, Suite 204, Princeton 08540; 609-895-0300; fax, 609-895-8118. Gary LaSasso, president. Home page: www.nmpartners.net.
New Media Partners, producer of training and interactive computer programs, has moved from Princeton Pike to Route 1.
The firm’s president, Gary LaSasso, is a 1987 graduate of Rutgers also has been a professional actor since 2002, and has appeared in commercials for the John Kennedy Ford dealerships in Pennsylvania and for the Delaware State Police, as an officer promoting sober driving.
Leaving Town
L.D.H. Printing Inc., 417 Wall Street, Princeton. 609-924-4664;. LaVerne D. Hebert, president.
After 30 years on Wall Street, L.D.H. Printing has moved to Morrisville, Pennsylvania. The move is part of a merge with Garlet Printing and Mid-Atlantic Printing. The joint venture now operates at 30 North Pennsylvania Avenue and can be reached at the Princeton number.
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