Worcester Business Journal

wbjournal.com | November 12, 2018 | Worcester Business Journal 5 B R I E FS Main Street Bank CEO retiring Rick Bennett, the CEO of Main Street Bank and its predecessor in Marlbor- ough for 17 years, is retiring. Bennett will be succeeded by Wally Dwyer, who was the president and CEO of North Middlesex Savings Bank prior to its merger with Marl- borough Savings Bank last year to form Main Street Bank. Dwyer will take over on Jan. 1. Papa Gino's, D'Angelo's close in bankruptcy e parent company of Papa Gino's and D'Angelo has filed for bankruptcy, ending speculation about what hap- pened when the company abruptly closed 95 stores in November. e closings include three Papa Gino's locations in Worcester. Of 16 Central Massachusetts D'Angelo locations, three are closing in Marlborough and Milford. Wynnchurch Capital, a Chicago private equity investment firm, has emerged as the bidder for the PGHC Holdings, both restaurant chains' parent e proposed transaction would lead to the remodeling of 141 remaining Papa Gino's and D'Angelo locations. e company said it closed 95 under- performing stores on Sunday to begin the process of restructuring. Worcester economy grew at 4.1% annualized rate e Greater Worcester economy grew by a 4.1-percent annualized rate in the third quarter, its highest in five years, according to an Assumption College. e Worcester Economic Index, which Assumption economics professor omas White releases, estimates local economic activity based on employment and unemployment, along with other data. e strong quarter was the best since at least the third quarter of 2013. IPG acquires Iowa robotics firm for $115M Oxford laser manufacturer IPG Pho- tonics has announced its first transac- tion of 2018, a $115-million purchase of Genesis Systems Group, a robotic weld- ing and automation firm. e private- ly-held Iowa company has more than 300 customers in the transportation and aerospace and industries. Consigli hired for $650M Smithsonian renovations Consigli Construction Co. of Mil- ford has been hired for the first major renovations in the four-decade history of the National Air and Space Muse- um in Washington, D.C. e six-year contract for $650 million with the Smithsonian-affiliated museum includes removing and replacing the exterior stone facade, glass curtain wall and sky- lights, and adding a new entrance canopy designed to evoke the shape of wings. Rotmans' distribution center sells for $28M A sprawling warehouse in Clinton home to distribution centers for the fur- niture company Rotmans and children's book company Scholastic has sold for $27.8 million. e property, at 100 Adams St., was bought by a limited liability compa- ny with the same address as Marcus Partners, a Boston real estate firm. e company's CEO and president is Paul Marcus, a graduate of MIT and past chairman the Massachusetts Chapter of the National Association of Industrial and Office Properties It was sold by three entities connected to NorthBridge Partners, a real estate firm in Wakefield. at company was co-founded by Dean Atkins and Greg Lauze, graduates of Boston College. e warehouse, built in 1999, includes 344,000 square feet. e property last changed hands just last November, with NorthBridge Partners buying it for $20.5 million. e 20-acre property was last assessed at $11.4 million. Canal District gets $400K for streetscape upgrades e mixed-use Harding Green apart- ments and market in the Canal District have received a boost as the Worcester was granted $400,000 for streetscape improvements in the area around the $21-million development. e MassWorks grant will be used for pedestrian and screetscape infrastruc- ture. at work will enhance safety and improve the aesthetics outside the devel- opment at Harding and Green streets. Fenway architect slated for WooSox stadium e architecture firm that designed improvements to Fenway Park is the frontrunner to design the $90-million ballpark for the Worcester Red Sox. e Worcester Designer Selection Board ranked Somerville-based DAIQ first among three shortlisted for the project. The name should be Worcester Red Sox Pawtucket Red Sox officials are considering dropping the Red Sox name for when the baseball team moves to Worcester in 2021. e Triple A affiliate of the Boston Red Sox has always used the Red Sox name, a brand valued at $3 billion, but the minor league team is soliciting fan's suggestions for a new name until Nov. 26. Early fan ideas include Worcester Minutemen, Worcester PawSox and Worcester Night Crawlers. When polled online, nearly 9 out of 10 WBJ readers said the team should be named Worcester Red Sox. F L AS H P O L L "The Kelley Square Navigators." Should Worcester's new baseball team be called the Red Sox? "Probably better than the more accurate Worcester Tax Burdens." "Absolutely! That is why the city committed the investment!" No. The team should forge its own identity after moving to Worcester. 13% COMMENTS: Yes. Red Sox is an iconic brand that will attract people to Worcester. 87% Rick Bennett, retiring CEO of Main Street Bank W $100 million Value of a proposed liquified natural gas facility in Charlton by Pennsylvania firm Liberty Energy Trust Source: Liberty Energy Trust The number of years Honee Hess served as the executive director of the Worcester Center for Crafts, before announcing her retirement this coming March. 6 Source: Worcester Center for Crafts 29% Source: Discover Marble & Granite Percent increase of the workforce at Discover Marble & Granite after its planned 22,000-square-foot expansion in Millbury National Institutes of Health grant given to Holliston biotech Biostage to fast-track its throat implants to market. $1.1 million Source: Biostage T H E T I C K E R

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