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wbjournal.com | Book of Lists 2017 | Worcester Business Journal 23 Put your Network in Our Hands. We're Fast, Affordable, and our IT Solutions Work. If you have a small to medium-sized business, maintaining an IT Department for your essential needs can be difficult and costly. With custom programs for companies like yours, a commitment to your business, and a track record of 100% renewal of service contracts, we deliver smart, effective IT solutions for those who need them most. This is why ClearCom IT Solutions has been successfully growing for a decade. Show us your Network. We'll make it work for you. Info@ClearComIT.com | 508.892.5555 | ClearComIT.com starts with a solid relationship. The Cornerstone of Your Success Worcester • Charlton • Holden • Leicester N. Oxford • Rutland • Southbridge • Spencer Sturbridge • Warren • Webster Member FDIC Member DIF cornerstonebank.com • 800-939-9103 Formerly SpencerBANK and Southbridge Savings Bank B A N K I N G & F I N A N C E F O C U S Mergers & acquisitions Ranked by sale price, then date closed Buyer (unit purchasing) Sale price Date announced Date closed Seller (unit sold, if applicable) 1 Dell Technologies Inc. One Dell Way, Round Rock, Texas 78682 512-728-4737 • www.dell.com $67 billion 10/12/2015 9/7/2016 EMC Corp. 1 176 South St., Hopkinton 01748 508-435-1000 • www.emc.com 2 Sycamore Partners 9 West 57th St., 31st Floor, New York, N.Y. 10019 212-796-8500 • sycamorepartners.com $6.9 billion 6/28/2017 Pending approval Staples Inc. 500 Staples Drive, Framingham 01702 508-253-5000 • www.staples.com 3 Sunovion Pharmaceuticals Inc. 84 Waterford Drive, Marlborough 01752 508-481-6700 • www.sunovion.com $635 million 8/31/2016 10/21/2016 Cynapsus Therapeutics Inc. Toronto, Canada 4 Boston Scientific Corp. 300 Boston Scientific Way, Marlborough 01752 508-683-5670 • www.bostonscientific.com $435 million 3/30/2017 5/16/2017 Symetis SA Ecublens, Switzerland 5 Apax Partners 33 Jermyn St., London, United Kingdom SW1Y 6DN 44-20-7872-6300 • www.apax.com $397 million 4/3/2017 4/3/2017 Candela Corp., a subsidiary of Syneron 530 Boston Post Road, Wayland 01778 508-358-7400 • www.syneron-candela.com 6 Boston Scientific Corp. 300 Boston Scientific Way, Marlborough 01752 508-683-5670 • www.bostonscientific.com $210 million 9/27/2016 11/22/2016 EndoChoice Holdings Inc. 11405 Old Roswell Road, Alpharetta, Ga. 30009 888-682-3636 7 Berkshire Hills Bancorp Inc. 24 North St., Pittsfield 01202 800-773-5601 • www.berkshirebank.com $209 million 5/22/2017 Pending approval Commerce Bancshares Corp. 386 Main. St., Worcester 01608 508-797-6842 • www.bankatcommerce.com 8 Unum 1 Mercantile St., Worcester 01608 508-799-4441 • www.unum.com $127 million 4/4/2016 8/1/2016 H&J Capital LLC 2 8485 Goodwood Blvd., Baton Rouge, La. 70806 225-926-2888 9 Genesee & Wyoming Inc. 20 West Ave., Darien, Conn. 06820 203-202-8900 • www.gwrr.com $126 million 8/15/2016 10/27/2016 Providence and Worcester Railroad Co. 75 Hammond St., Worcester 01610 508-755-4000 • www.pwrr.com 10 Boston Scientific Corp. 300 Boston Scientific Way, Marlborough 01752 508-683-5670 • www.bostonscientific.com $75 million 12/2/2016 12/13/2016 Neovasc Vancouver, Canada 11 IPG Photonics Corp. 50 Old Webster Road, Oxford 01540 508-373-1100 • www.ipgphotonics.com $40 million 6/19/2017 Pending approval 3 Innovative Laser Technologies 5110 Main St. NE, Minneapolis, Minn. 763-574-7374 • www.iltinc.com 12 Oxford Immunotec Global PLC 700 Nickerson Road, Suite 200, Marlborough 01752 877-208-7768 • www.oxfordimmunotec.com $22 million 6/23/2016 7/1/2016 Imugen 315 Norwood Park South, Norwood 02062 781-255-0770 • www.imugen.com 13 Oxford Immunotec Global PLC 700 Nickerson Road, Suite 200, Marlborough 01752 877-208-7768 • www.oxfordimmunotec.com $6 million 4 10/14/2016 10/14/2016 Immunetics Inc. 27 Drydock Ave., Boston 02210 14 RXi Pharmaceuticals Corp. 257 Simarano Drive, Marlborough 01752 508-767-3861 • www.rxipharma.com $2.7 million 10/12/2016 1/9/2017 MirImmune Inc. One Kendall Square, Cambridge 02139 15 Complete Technology Resources Inc. 2 Mount Royal Ave., Suite 350, Marlborough 01752 508-909-5961 • www.completetechnologyresources.com $110,000 6/1/2016 6/1/2016 Hugg Tech Computers 13743 East Morgan Drive, Gilbert, Ariz. 85296 480-695-9985 • www.huggtech.com 16 SpencerBANK 5 230 Park Ave., Worcester 01609 508-421-8070 • www.spencerbankonline.com Merger undisclosed 4/18/2017 6/12/2017 Southbridge Savings Bank 5 253-257 Main St., Southbridge 01550 508-765-9103 • www.southbridgesavingsbank.com 17 Greenwood Industries Inc. 640 Lincoln St., Worcester 01613 508-865-4040 • greenwoodindustries.com Undisclosed 6/1/2017 6/1/2017 Apollo Roofing & Sheet Metal Inc. 316 Lockwood St., Providence, R.I. 02907 401-274-6630 18 IPG Photonics Corp. 50 Old Webster Road, Oxford 01540 508-373-1100 • www.ipgphotonics.com Undisclosed 5/23/2017 5/23/2017 OptiGrate Corp. 562 South Econ Circle, Oviedo, Fla. 32765 407-542-7704 • www.optigrate.com 19 Simonds International 135 Intervale Road, Fitchburg, Mass. 01420 978-343-3731 • www.simondsint.com Merger undisclosed 5/18/2017 5/18/2017 B.G.R. Saws Lévis, Quebec, Canada www.sciesbgr.com 20 OptumHealth 11000 Optum Circle, Eden Prairie, Minn. 55344 800-386-3404 • www.optum.com Undisclosed 4/20/2017 Pending approval Reliant Medical Group 630 Plantation St., Worcester 01605 508-852-0600 • www.reliantmedicalgroup.org 21 Kohlberg & Co. LLC, for PPC Industries Inc. Alpharetta, Ga. Undisclosed 2/27/2017 5/9/2017 Pexco 6 764 South Athol Road, Athol 01331 978-249-5343 • www.pexco.com 22 Amedisys Inc. 3854 American Way, Baton Rouge, La. 70816 225-292-2031 • www.amedisys.com Undisclosed 3/1/2017 5/1/2017 Tenet Healthcare, home health and hospice operations 7 Marlborough 01752 16 230 Park Ave., Worcester 01609 508-421-8070 • www.spencerbankonline.com Merger undisclosed 4/18/2017 6/12/2017 253-257 Main St., Southbridge 01550 508-765-9103 • www.southbridgesavingsbank.com 17 Greenwood Industries Inc. 640 Lincoln St., Worcester 01613 508-865-4040 • greenwoodindustries.com Undisclosed 6/1/2017 6/1/2017 Apollo Roofing & Sheet Metal Inc. 316 Lockwood St., Providence, R.I. 02907 401-274-6630 18 IPG Photonics Corp. 50 Old Webster Road, Oxford 01540 508-373-1100 • www.ipgphotonics.com Undisclosed 5/23/2017 5/23/2017 OptiGrate Corp. 562 South Econ Circle, Oviedo, Fla. 32765 407-542-7704 • www.optigrate.com 19 Simonds International 135 Intervale Road, Fitchburg, Mass. 01420 978-343-3731 • www.simondsint.com Merger undisclosed 5/18/2017 5/18/2017 B.G.R. Saws Lévis, Quebec, Canada www.sciesbgr.com 20 OptumHealth 11000 Optum Circle, Eden Prairie, Minn. 55344 800-386-3404 • www.optum.com Undisclosed 4/20/2017 Pending approval Reliant Medical Group 630 Plantation St., Worcester 01605 508-852-0600 • www.reliantmedicalgroup.org 21 Kohlberg & Co. LLC, for PPC Industries Inc. Alpharetta, Ga. Undisclosed 2/27/2017 5/9/2017 Pexco 6 764 South Athol Road, Athol 01331 978-249-5343 • www.pexco.com 22 Amedisys Inc. 3854 American Way, Baton Rouge, La. 70816 225-292-2031 • www.amedisys.com Undisclosed 3/1/2017 5/1/2017 Tenet Healthcare, home health and hospice operations 7 Marlborough 01752 23 Workers Credit Union 815 Main St., Fitchburg, Mass. 01420 978-345-1021 • www.wcu.com Undisclosed 4/28/2017 4/28/2017 Braley & Wellington Group 44 Park Ave., Worcester 01609 508-754-7255 • braleywellingtongroup.com 24 Marlborough Savings Bank 8 81 Granger Blvd., Marlborough 01752 508-481-8300 • www.bankmainstreet.com Merger undisclosed 7/13/2016 4/3/2017 North Middlesex Savings Bank 8 7 Main St., Ayer 01432 978-772-3306 • www.nmsb.com 25 Curtis Industries LLC 111 Higgins St., Worcester, Mass. 01606 508-853-2200 • www.curtisindustries.net Undisclosed 2/27/2017 2/27/2017 Artillian LLC 120 Gilboa St., Douglas 01516 508-476-7210 • www.artillian.com 26 Amedisys Inc. 3854 American Way, Baton Rouge, La. 70816 225-292-2031 • www.amedisys.com Undisclosed 1/4/2017 2/2/2017 Home Staff LLC 9 40 Millbrook St., Worcester 01606 508-755-4600 27 Eastern Insurance Group LLC 233 W. Central St., Natick 01760 508-651-7700 • easterninsurance.com Undisclosed 2/1/2017 2/1/2017 Chase and Lunt Insurance Agency 65 Park St., Newburyport 01950 978-462-4434 28 Starkweather & Shepley Insurance Brokerage Inc. 60 Catamore Blvd., East Providence, R.I. 02914 800-446-5838 • www.starshep.com Undisclosed 1/31/2017 1/31/2017 McGrath Insurance Group Inc. 258 Main St., Sturbridge 01566 508-347-6850 • www.mcgrathinsurance.com 29 Kaplansky Insurance 10 Kearney Road, Needham 02494 781-453-2552 • www.kaplansky.com Undisclosed 12/19/2016 12/19/2016 R.P. Ahearn Insurance 134 Franklin St., Framingham 01702 508-416-6408 30 Cognex Corp. 1 Vision Drive, Natick 01760 508-650-3000 • www.cognex.com Undisclosed 1/10/2017 12/9/2016 Webscan Longmont, Colo. 31 Cognex Corp. 1 Vision Drive, Natick 01760 508-650-3000 • www.cognex.com Undisclosed 1/10/2017 11/30/2016 Chiaro Technologies Boulder, Colo. 32 Steward Health Care Network 427 Main St., 3rd Floor, Worcester 01608 508-438-1100 • www.cmipa.com Undisclosed 11/10/2016 11/16/2016 Central Massachusetts Independent Physician Association (CMIPA) Worcester 33 Convergint Technologies 1 Commerce Drive, Schaumburg, Ill. 60173 847-229-0222 • www.convergint.com Undisclosed 10/11/2016 10/11/2016 Go Security Solutions 21 Brigham St., Westborough 01518 508-898-2077 34 Nitto Denko Avecia Biotechnology Inc. 10 125 Fortune Blvd., Milford 01757 508-532-2500 • www.avecia.com Undisclosed 10/11/2016 10/11/2016 Irvine Pharmaceutical Services & Avrio Biopharmaceuticals Irvine, Calif. 35 Argential, a subsidiary of MicroChem Corp. 200 Flanders Road, Westborough 01581 617-965-5511 • www.microchem.com Undisclosed 9/1/2016 9/1/2016 Conductive Compounds 11 17 Hampshire Drive, Hudson, N.H. 03051 603-595-6221 • www.appliedinksolutions.com 36 Eastern Insurance Group LLC 233 W. Central St., Natick 01760 508-651-7700 • easterninsurance.com Undisclosed 8/1/2016 8/1/2016 John E. Patterson Insurance Agency Inc. 190 Washington St., Westwood 02090 781-329-1020 37 Greenwood Industries Inc. 640 Lincoln St., Worcester 01613 508-865-4040 • greenwoodindustries.com Undisclosed 8/1/2016 8/1/2016 Allied Restoration Corp. 162 Governor St., East Hartford, Conn. 06108 860-291-8833 38 Cape Medical Supply 28 Jan Sebastian Drive, Sandwich 02563 508-888-3113 • capemedical.com Undisclosed 7/29/2016 7/29/2016 New England Medical Homecare 7 Saint Mark St., Auburn 01501 800-339-3322 39 Boston Scientific Corp. 300 Boston Scientific Way, Marlborough 01752 508-683-5670 • www.bostonscientific.com Undisclosed 7/27/2016 7/27/2016 Cosman Medical Inc. 22 Terry Ave., Burlington 01803 781-272-6561 • www.cosmanmedical.com 40 Community Bank Marketing Solutions 57 Maple Ave., Barrington, R.I. 02806 401-273-5530 • www.teamcbms.com Undisclosed 7/14/2016 7/14/2016 Davis Advertising 12 1331 Grafton St., Worcester 01604 508-752-4615 • www.davisad.com time that investors weren't especially confident. "It's a big bet for both com- panies, which are struggling to make a future for themselves in a world that has largely left PCs behind for mobile," he wrote. "Dell hasn't really been the same since the days of 'Dude, you're getting a Dell.' EMC trad- ed for more than $100 a share at the height of the dot-com boom. Today it is barely a third of that." Despite Dell's debt from the deal, research-and-development costs rose sharply. But the larg- er Dell Technologies, as the post-EMC merger company is known, has not grown revenue to be larger than the sum of its parts, Mitchell said. - Grant Welker