Hartford Business Journal

www.HartfordBusiness.com • January 14, 2019 • Hartford Business Journal 5 Hartford's HALO acquired for $43M A seller of mobile accessories from Utah says it's acquired HALO, a Hartford- based developer of portable chargers, for $43 million in a cash and stock deal. ZAGG Inc., of Salt Lake City, Utah, announced its purchase of HALO, which in recent years moved to downtown Hartford after its co-founders Dan Weinstein and Garold Miller bought the Six Central Row office building in the center city. ZAGG, which sells screen protectors for mobiles, headphones and other products, said HALO has a broad offering of wall chargers, portable power and power wallets, and has a "long- standing reputation as one of the top- selling electronics brands on QVC." Weinstein and Miller about a decade ago developed the idea for HALO as then neighbors in Glastonbury. They first debuted a HALO portable electronic charger on QVC in 2011. The partners declined in June to discuss HALO's sales or profitability, but a 2013 CNNMoney story said the company earned $90 million in sales that year. Manchester dangles downtown redevelopment carrot Manchester is offering no-interest loans of $25,000 to $250,000 to entrepreneurs and landlords who invest in improving their downtown commercial spaces. Town officials say the program is intended for current or potential downtown property owners with rehabilitation plans that transform not only their properties but collectively elevate the appeal of downtown as a whole. Stanley launches year two of Hartford accelerator New Britain hand- and power-tool maker Stanley Black & Decker Inc. and a Colorado venture capital firm have launched year two of an advanced-manufacturing accelerator in downtown Hartford. The Stanley Technology Center in One Constitution Plaza recently completed its inaugural year, which included 10 startups from the U.S., Canada, Israel and Ireland focused on technologies that build 3D objects with materials layering such as plastics, metals and concrete In 2019, the Stanley+Techstars Accelerator said it will consider startups focused on additive manufacturing or environmentally friendly sustainable packaging. CT's Nov. home, condo sales decline Statewide sales of single-family dwellings and condos fell in November, but median pricing for both was mixed, a new survey shows. A total of 2,369 single-family homes were sold in Connecticut in November vs. 2,595 homes sold the same month a year earlier — an 8.7 percent drop and the fourth consecutive monthly decline, according to Boston business publisher The Warren Group. The median single-family sale price, however, rose 3.1 percent to $250,000, Warren Group said. Among condos, their sales count fell 5.5 percent to 676 in November vs. 715 sold in Nov. 2017. Their median price dropped 6.3 percent from a year earlier, to $150,000 from $160,000. $48M Cromwell retirement complex expansion to break ground in March A Cromwell retirement community is moving forward with a $48 million expansion that aims to meet the needs of Connecticut's steadily aging population. The 220-unit Covenant Village of Cromwell is slated to build 54 new units beginning in March with an expected completion in fall 2020, a spokesman said. Under the plans, Covenant Village, a faith-based Christian community, will increase its current 38-acre campus by 25 percent, adding 76,000 square feet of housing and 34,000 square feet of common space. Covenant Village has already pre-sold about 87 percent of the new units, the spokesman said. NMLS ID 430007 | Member FDIC | Equal Housing Lender Personal and business solutions for your life. SM Come on in To any branch Click bankatunited.com Call 866.959.BANK (2265) As a community bank, United Bank is dedicated to helping you reach your goals. So whether you're looking to save money, manage your business finances, buy a new home, or save for retirement, you can count on us to provide the solutions and service you need. To learn more about our full line of personal, mortgage, and commercial banking services, talk to us today. Personal Banking Mortgages Commercial Banking HALO co-founders Garold Miller (left) and Dan Weinstein. PHOTO | HBJ FILE

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