Hartford Business Journal

www.HartfordBusiness.com February 2, 2015 • Hartford Business Journal 7 BankIng Virtus to buy majority stake in ETF platform Hartford asset manager Virtus Investment Partners said it has agreed to purchase a majority stake in a New York City company that operates an electronic platform for exchange-traded funds. Virtus said ETF Issuer Solutions' platform will allow it to offer an actively-managed ETF product to its clients. "There is growing interest among financial advisors and inves- tors to use exchange-traded funds in their retail and institutional portfolios because of the tax efficiency and liquidity benefits that ETFs offer," Virtus CEO George R. Aylward said in a statement. Financial terms of the transaction, expected to close in March, were not disclosed. ETIS subadvisers manage three ETFs, and the company is reg- istering an additional seven with the U.S. Securities and Exchange Commission, Virtus said. what'S ahead: ■ 3/10 Focus: Banking & Finance ■ The List: Largest m&a deals ■ Nonprofit Profile: Ct Conference of Independent Colleges CaLendar Friday, Feb. 6 Simsbury Business Leader's Breakfast The Simsbury Chamber of Commerce will host its seventh annual business leader's breakfast Feb. 6 at the Belle Terrace at Avon Old Farms Inn, Avon. The event runs from 7:30 a.m. to 9:30 a.m. and will feature more than 150 business owners, leaders, and support staff. Guest speakers will include Richard E. Forgay II, founder and CEO of Business Leadership Mastery LLC, and Pete Winiarski, founder and CEO of Win Enterprises LLC. Forgay will talk about how to increase the value of professional relationships. Winiarski will tell attendees how to harness the power of appreciation and gratitude through simple, daily actions that will develop positive habits and boost team and company performance. Cost to attend is $30 per person. To purchase tickets or obtain more information go to: www.simsburycoc.org and click on the Event Calendar, or call 860.651.7307. F O r a C O m P l e T e l i s T O F G r e a T e r H a r T F O r d b u s i n e s s e v e n T s , G O T O w w w . H a r T F O r d b u s i n e s s . C O m a n d C l i C k O n ' T H e a G e n d a . ' a l l C a l e n d a r i T e m s m u s T b e s u b m i T T e d e l e C T r O n i C a l l y v i a O u r w e b s i T e , H a r T F O r d b u s i n e s s . C O m . manuFaCturIng Census: Hartford County is CT's manufacturing powerhouse There are more manufacturing firms, employees and overall output in Hartford County than in any other area of the state, ac- cording to 2012 data recently released by the U.S. Census Bureau. Hartford County had 1,261 manufacturing establishments employ- ing more than 57,000 workers, with an annual payroll of $3.9 billion, the bureau said. That represented 29 percent of Connecticut's total manufactur- ing businesses, 35 percent of its total manufacturing workforce, 37 percent of its manufacturing payroll, and 31 percent of the industry's $16.97 billion value of its shipments and receipts. Connecticut manufacturers' payroll amounted to $64,366 per employee in 2012, the highest in the country, the bureau said. Facing NYSE delisting, STR implements reverse stock split Enfield solar-encapsulant manufacturer STR Holdings said that it would proceed with a one-for-three reverse stock split to regain share-price compliance with the New York Stock Exchange. STR received notice from the NYSE last week that its average share price had fallen below $1 over the 30-day trading period ended Jan. 22. That means the company faces the threat of being delisted from the exchange, unless the price can regain an average of at least $1 over the next six months. In an attempt ensure that happens, STR's board of directors ap- proved the reverse split, which will be reflected in its trading price on Feb. 2. Shareholders previously approved the split in November, because the company anticipated its share price would drop following its sale of 51 percent of its shares to Zhenfa Energy Group for $21.7 million. STR said an 85-cent-per-share special dividend issued Jan. 5 — a requirement of the Zhenfa deal — made STR's share price drop, as it expected. The reverse split will reduce the number of STR's outstanding shares to approximately 18.1 million. Pete Winiarski Switch to Frontier Business Edge. AND MAKE YOUR NETWORK AS RELIABLE AS YOU NEED IT TO BE. innovative. Total Reliability is having a provider that's working whenever you are. It's having a plan that helps you work faster and more effi ciently. That's what Frontier Business Edge brings to your business. BE Everywhere Seamless Cloud access State-of-the art network BE Confi dent 24/7 tech support 100% U.S.-based workforce BE Connected Advanced data, voice and video solutions Wi-Fi networking ©2015 Frontier Communications Corporation. 1.800.935.8375 | frontier.com/businessedge ftr16337_10_01_c_m_all_rop_m2.indd 1 1/22/15 5:55 PM PDS has been meeting the needs of the construction industry since 1965. Our dedicated team of design and construction professionals welcomes the challenge of serving its past and future customers on their most demanding projects. Community Renewal Team | Hartford, CT PDS Engineering & Construction served as General Contractor for the complete interior renovation of a vacant three-story building located at 330 Market Street. The new space houses support offices for Community Renewal Team, the largest non-profit provider of human services in Connecticut. Project Features: - Interior finishes - Corporate environment Total Project Size: 26,000 SF 107 Old Windsor Road, Bloomfield, CT 06002 (860) 242-8586 | Fax (860) 242-8587 www.pdsec.com PDS EnginEEring & COnsTRuCTiOn, inC. Design BuilDeRs • geneRal COnTRaCTORs • COnsTRuCTiOn ManageRs SPoTlighT on: non-Profit Kevin Flanagan is vice president and sales director of aeroparts maker Flanagan Industries in Glastonbury, which is one of the 1,261 manufac- turers located in Hartford County. P H O T O | P a b l O r O b l e s

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