Worcester Business Journal

wbjournal.com | October 14, 2024 | Worcester Business Journal 7 If you're a business owner looking to sell or transition your business to new ownership, or to expand by acquisition, our panel of experts will share the pitfalls and best practices on how to best manage that process. This Forum will include practical, actionable advice with materials you can take away and put into action as you plan for the future. BROUGHT TO YOU BY Coming November 19 3:30 - 6:00PM • AC Hotel, Worcester MA Topics Include: • Proven successful planning process for growing, transitioning and exiting the business • Identifying personal goals and objectives to ensure your business is working for you vs. your working for the business • Mapping your future lifestyle spending needs • Transitioning management roles & responsibilities • Internal growth: Scaling-Up • External growth: buying a business • Minimizing Taxes • Having a plan for what comes next • Wealth management strategies • Commercial lending opportunities for buyers, business owners growing their business and sellers • Getting your legal house in order - due diligence • Managing a deal from start to finish • A Report on the current transaction market for Buyers and Sellers BUYING, GROWING OR SELLING A BUSINESS A Business Owner's Road Map To A Successful Outcome Speakers Include: Michael Tivnan, CLU VP & Commercial Financial Consultant Rockland Trust Terry Shepherd, AM&AA CPA MST Partner Citrin Cooperman Robert Paulsen SVP Commercial Lending Center Manager Rockland Trust Matt Alison, AM&AA Partner Citrin Cooperman Michael Cassata, CEPA FVP, Business Owner Advisory Strategist Rockland Trust REGISTER TODAY! Early bird rate through Nov. 1st - $25 per person. Pre-registration required. Register here: wbjournal.com/bizforum WBJ A SPECIAL FORUM SELLING A BU $ INESS A Business Owner's Map To Navigating The Journey Timothy Monahan Partner Prince Lobel Tye LLP W B R I E F S a move the company says will make it the largest producer of cra beer in Massachusetts. e deal will see most of Night Shi's employees joining Hendler, leaving the Framingham company with 300 employees, according to a press release issued by Hendler on Oct. 8. Hendler purchased Wormtown in a deal first announced in April and operates a contract brewing operation where it pro- duce products for other brands. HFB will continue to operate all Night Shi-branded locations, including its Boston, Everett, and Allston taprooms. While not directly managed by Night Shi, the brand's presence at Level 99, an interactive entertainment destination in the Natick Mall, will continue. "is expansion is not just about growth; it's about building a stronger foundation for our teams and brands to thrive," Sam Hendler, co-founder and CEO of HFB, said in the Oct. 8 statement. "By providing resources and stability to brands like Night Shi, Wormtown, and Jack's Abby, we will ensure that Massachusetts' cra beer industry remains local and independent for years to come." HFB projects this move will lead to an annual production of 100,000 barrels (3.1 million gallons) in 2025, growth the company says will make it the largest cra brewer in the state and among the 30 largest in the country. Heywood Healthcare exiting from bankruptcy Heywood Healthcare has announced its stand- alone exit from Chapter 11 bankruptcy, almost exact- ly one year aer the Gardner-based firm initially filed for bankruptcy in October 2023. e announcement from Heywood followed a Sept. 30 confirmation hearing and a May filing seek- ing to exit bankruptcy. "Under the protection of Chapter 11 Heywood Healthcare successfully restructured our debt and out-of-market contracts while maintaining and growing critical regional ser- vices, such as behavioral health and obstetric care," Rozanna Penney, President and CEO of Heywood, said in a Sept. 30 press release. "Heywood's success is a direct result of the hard work and commitment of our dedicated trustees, leaders, physicians, advanced practice providers, and employ- ees." Heywood, which owns hospitals in Gardner and Athol, reported owing $31.3 million to its top 20 creditors in its original bankruptcy filing, including high-profile companies such as Consigli Construc- tion in Milford and neighboring Worcester health- care providers Fallon Community Health Plan and Saint Vincent Medical Group. e system filed for bankruptcy months aer abruptly ousting Winfield Brown, its president and CEO of 12 years, in June 2023. Later that month, Heywood halted construction on its new $29-million surgical pavilion, which led to multiple lawsuits over unpaid construction work. Continued from page 5 Rozanna Penney

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