Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.
Kaiser report: ACA makes N.Y.’s individual health-insurance market more competitive
The market for individual health-insurance coverage in New York appears “noticeably more competitive” compared to the same market in 2012. That’s according to a new
Mohawk Valley Health System board announces officers
UTICA — Mohawk Valley Health System (MVHS) has announced the officers for its board of directors. They are: the Hon. Norman Siegel, chairman; Gregory McLean,
Mirabito to formally open new convenience store in Oneonta
ONEONTA — Mirabito Convenience Stores has announced plans to formally open its “renovated and upgraded” location on March 20 in Oneonta. The new location replaces an
New York manufacturing index edges up in March
The Federal Reserve Bank of New York reported today that its Empire State Manufacturing Survey general business-conditions index rose to 5.6 in March from 4.5
Sky Zone Indoor Trampoline Park to open at DeWitt Town Center
DeWITT — Sky Zone Indoor Trampoline Park — an international franchised business offering patented all-trampoline, walled playing courts — announced that it will open a
Binghamton University to host expanded health fair on March 25
VESTAL — Binghamton University will soon host its 8th annual health fair, promoting wellness and including area businesses. The university’s dining services unit, run by
PAR Technology has profitable Q4 and year, but firm ‘not satisfied’
NEW HARTFORD — PAR Technology Corp. (NYSE: PAR) today reported a profit during the fourth quarter and the full year, compared to losses during the
Nesher acquires CNY Business Review, BizEventz
SYRACUSE — It has been a family business since 1986 — and will remain so for the foreseeable future. Marny Nesher has acquired CNY Business Review, Inc. (better known as the CNY Business Journal) from her parents, Norman and Joan Poltenson. Nesher also purchased the sister company, BizEventz, Inc., from a family trust. Nesher, who
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SYRACUSE — It has been a family business since 1986 — and will remain so for the foreseeable future.
Marny Nesher has acquired CNY Business Review, Inc. (better known as the CNY Business Journal) from her parents, Norman and Joan Poltenson. Nesher also purchased the sister company, BizEventz, Inc., from a family trust.
Nesher, who had been serving as the companies’ COO, is now sole owner and president.
Together, the corporations form The Business Journal News Network (BJNN), which includes business newspapers, a business news and research website, and an events and networking business.
The sale closed on March 6. Norman Poltenson, who previously served as the organization’s publisher, declined to disclose financial terms of the deal with Nesher.
Everybody needs an exit strategy, Poltenson says of the decision to sell the business.
“The other thing is having built the company over 28 years. I would like to see it continue and continue locally with local management, he says. “I think Marny [Nesher] was eminently qualified and is eminently qualified to run the [organization].”
Following the transaction, Poltenson is no longer serving as publisher and has transitioned to a full-time position as regional staff writer for BJNN, primarily writing for its three print editions.
Poltenson wants to stay “active and productive,” he adds.
Nesher is “very happy” to have finalized the deal and to be serving as the company’s owner and president, she says. Nesher is “very excited about having the opportunity to do this and excited that it’s still a family business and hopefully we can create a legacy from this.”
When asked if she has any specific plans for the business in the next few years, Nesher indicated she wants to continue building on the company’s success, including a rebranding effort to inform the public that BJNN offers print and digital products, along with events.
In the transaction, Nesher acquired the companies’ stock, Poltenson says.
Poltenson has been thinking about the succession process for about a decade, he says. The discussions between Poltenson and Nesher on the transfer of ownership lasted “a couple of years,” he says.
Attorney Jeffrey B. Scheer of the Syracuse law firm Bond, Schoeneck & King PLLC provided legal counsel on the transaction, while Christopher Didio of the accounting firm Dannible & McKee, LLP of Syracuse offered accounting guidance, according to Poltenson.
About the business
BJNN includes The Central New York Business Journal, The Mohawk Valley Business Journal, The Greater Binghamton Business Journal, and CNYBJ.com.
The Central New York Business Journal is the print edition that publishes weekly. Its sister publications, The Mohawk Valley Business Journal and The Greater Binghamton Business Journal, are print editions covering the Mohawk Valley and Southern Tier regions, respectively, that each publish seven times per year.
In addition to the print editions, the company also maintains a website, CNYBJ.com, on which it posts daily business news from its coverage of a 16-county area of upstate New York.
It also produces and delivers a Daily News Alert email and a daily CoffeeBreak email to those who have signed up to receive the emails. The Daily News Alert is distributed in the afternoon and includes the daily business news items that posted on CNYBJ.com.
The CoffeeBreak email includes links to online business news from around New York, along with the nation and world. It also includes links to five opinion articles on business matters. The CoffeeBreak email is sent out on weekday mornings.
BJNN also includes BizEventz, which offers a variety of conferences, seminars, events, and trade shows to provide business people with important information, tips, and advice, as well as networking opportunities.
BJNN operates in a 2,500-square-foot space at 269 W. Jefferson St. in Syracuse, a former train station on the south end of Armory Square.
The company leases the space from Washington St. Partners.
Nesher declined to disclose any of the company’s revenue information.
The business currently has 14 employees. It also utilizes freelancers and outside contractors.
Contact Reinhardt at ereinhardt@cnybj.com
Avalon Document Services enters the Ohio market
SYRACUSE — Avalon Document Services has expanded into Ohio with the acquisition of two offices of Cleveland, Ohio–based ProFile Discovery. The deal adds Cleveland and Akron, Ohio to Avalon’s list of office locations. In the transaction, which closed Feb. 18, Avalon acquired ProFile’s employees, equipment, service lines, and customer list, JP Midgley, CEO and co-owner
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SYRACUSE — Avalon Document Services has expanded into Ohio with the acquisition of two offices of Cleveland, Ohio–based ProFile Discovery. The deal adds Cleveland and Akron, Ohio to Avalon’s list of office locations.
In the transaction, which closed Feb. 18, Avalon acquired ProFile’s employees, equipment, service lines, and customer list, JP Midgley, CEO and co-owner of Syracuse–based Avalon Document Services, tells The Business Journal. Avalon isn’t releasing financial terms of its agreement with ProFile.
Avalon, which is headquartered in a 12,000-square-foot facility at 901 N. State St., provides copying, scanning, printing, and litigation-support services to law firms, architects, engineers, and other businesses.
Avalon generated revenue of $6.2 million in 2013. And, with the two new offices, the firm is projecting revenue will rise to about $8.7 million this year, Midgley says. The deal will also boost Avalon’s employee count from 75 to 100.
Ohio market
Ohio is a market that Avalon wanted to enter, says Midgley, who does most of his work from the Avalon office in Buffalo.
As it considered options for growth, Avalon worked with Next Point, LLC — a consulting firm, in its search for companies that could represent “potential fits” for Avalon, says Midgley.
“They did a lot of the reaching out, looking for the types of companies that fit what we’re looking for,” he adds.
Next Point is a firm that works to “address the needs of small- to mid-sized closely held businesses that wish to restructure, grow, and most of all thrive,” according to its website. Next Point operates offices in Buffalo and Syracuse.
Besides its offices in Northeast Ohio, ProFile Discovery also operates a location in Columbus, Ohio. The Ohio firm’s website and the Avalon news release list the Avalon deal as affecting only the offices in Cleveland and Akron.
Both Midgley and Shawn Thrall, Avalon’s president and co-owner, met with ProFile’s co-CEO, Chris Haag, at his office in Cleveland.
“There [were] a lot of synergies there between us and our pasts and his past,” Thrall says.
Thrall and Midgley acquired Avalon from former owner Jon Denney in July 2011. Denney is operating Jon Denney Executive Coaching, LLC, an executive coaching and consulting business.
ProFile specializes in facilities-management services, says Midgley.
“We’re talking about … running the in-house copy center, the print room, the mail room for larger corporations, law firms. They brought that kind of expertise to us,” he adds.
The Ohio firm didn’t focus on the architectural and engineering markets, but had previously discussed interest in those markets, according to Midgley.
Avalon brings experience serving those customers to the Cleveland and Akron offices, he says.
ProFile will also offer copy, print, and document-management services for the general-business community.
Under the agreement, Avalon will grow from 75 to 100 employees, Midgley and Thrall say.
The employees in the Ohio offices will remain in their current locations.
“They’re going to stay put. They’re going to be doing their own thing with our procedures in place,” Thrall says
The employees include Chris Haag, former co-CEO of ProFile Discovery, who will remain with the company as vice president of sales, and former co-CEO Kevin O’Donnell, who will serve as managing partner of the Cleveland and Akron offices.
ProFile’s Haag sees the acquisition as a “tremendous opportunity for growth” in servicing businesses beyond law firms.
“ProFile Discovery will be perfectly positioned to easily expand our customer base,” Haag said in an Avalon news release.
The firm also said it plans to add administrative staff to support its growth.
During the transition, the Ohio offices will continue operating as ProFile Discovery under the Avalon Document Services name, according to the Avalon news release.
Avalon also expanded more than a year ago with its acquisition of Buffalo–based Delaware Copy in February 2013. The company moved its Buffalo office to a 10,000-square-foot office last month, doubling the size of its operating space in the market.
The firm says it “has enjoyed steady growth” since its inception in 2000.
Besides its offices in Syracuse, Buffalo, and the new Ohio offices, Avalon also operates New York locations in Utica and Rochester.
Contact Reinhardt at ereinhardt@cnybj.com
Custom cake business, 83 & Company, cooks up growth
SYRACUSE — 83 & Company, located on Syracuse’s Northside, is a bakery specializing in custom cakes and offering delivery service for the Central New York area. The bakery first opened as a commercial kitchen in July 2010 and transformed into a retail store open to the public last Nov. 29. Esther Houston, whose family owns
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SYRACUSE — 83 & Company, located on Syracuse’s Northside, is a bakery specializing in custom cakes and offering delivery service for the Central New York area. The bakery first opened as a commercial kitchen in July 2010 and transformed into a retail store open to the public last Nov. 29.
Esther Houston, whose family owns the bakery, says the driving force behind the store is her grandmother, who always treated the people around her with love and fed them with love.
“Being able to incorporate the recipes of my grandmother and mine really keeps her spirit alive,” Houston says. “I can see the same reactions from my customers when I take care of them and feed them well.”
The 1,100-square-foot 83 & Company generated $121,000 in revenue in 2013 and Houston is projecting $250,000 in 2014. Houston says she initially funded the kitchen through a small loan, the details of which she declined to provide. Houston and her family then reinvested the profits generated from the business to support its expansion. In all, they invested $15,000 to open the current retail store on Green Street.
83 & Company provides customers with four major types of cakes: cupcakes, wedding cakes, custom cakes, and cheesecakes. The business started offering a lunch menu in the middle of January. Houston develops the recipes of her cakes based on family traditions, adding 12-15 different flavors. She is the fourth generation to use these recipes.
Houston says the number 83 comes from her birth year and the word “company” represents everyone else with whom she works. “It’s more like a partnership as opposed to I am an employer and they’re employees,” she says. Currently, Houston, her mother, and two brothers, co-own the store. Houston and one other full-time employee run the store.
Houston’s family firmly supported her when she decided to start the business, which she described as a “scary period” that came with challenges. “When you’re starting your own business, there are no guarantees, no weekly paychecks or biweekly paychecks. It’s a self-motivated job. If you don’t wake up and work, you don’t make any money, period,” Houston says.
Houston’s background
After graduating from Pennsylvania Culinary Institute in Pittsburgh in 2002, Houston worked at the Biscotti Café & Gelateria in Syracuse for two and half years. She then served as an administrative assistant at SUNY Upstate Medical University for four years. Houston also worked for two more companies briefly but her dream to become a pastry chef never faded away. “I’ve always wanted to be a pastry chef,” Houston says. “I used to watch my grandmother bake when I was younger, which really cultivated my interests to all things sugar-related and pastry-related. And it was after culinary school that I found my niche was custom cakes.”
The target audience for the bakery primarily includes working women between 25 and 50 years old, Houston says.
Among her products, Houston’s favorite personal picks are “Wild Strawberry,” a vanilla cake filled with signature strawberry cream cheese frosting and frosted with vanilla butter cream. She also likes the Sweet Potato Pie made with the family’s secret recipe, known only by two living people, Houston and her mother.
When asked about the competition, Houston says in general all the other bakeries in Syracuse are competitors. In terms of custom cakes, Biscotti Café & Gelateria and Syracuse Cake Art are “doing the same level of work as we do,” she adds.
Houston says 83 & Company’s biggest advantages are that everything is fresh and custom, and customers can come with “no idea, half an idea, or a completely solid idea that we will be able to create the entire thing for.”
83 & Company engages in social-media advertising and marketing on Facebook, Twitter, and its website. It also advertises on CNY Central Deals.
Houston says she would like to open at least one more location by the end of 2014 and become the premiere bakery source for wedding cakes and custom cakes.
While continuing to serve the Central New York area, Houston plans to ship the bakery’s cheesecakes nationwide.
83 & Company rents its current place from the owners of Laci’s Tapas Bar. The bakery is open Tuesday through Friday from 8 a.m. to 6 p.m., and on Saturday from 9 a.m. to 5 p.m.
Contact The Business Journal at news@cnybj.com
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.