Hartford Business Journal

www.HartfordBusiness.com • November 6, 2017 • Hartford Business Journal 11 Reporter's Notebook Gregory Seay | gseay@HartfordBusiness.com Real Estate, Economic Development/Construction, Banking & Finance and Manufacturing MANUFACTURING Fuss & O'Neill embraces entrepreneurial engineer E ngineer Lawrence Bouvier long dreamed of one day running his own enterprise. Since starting his career in Plymouth, Conn., three decades ago, Bouvier gained experience and a passion for helping foundry operators and engineers plot maintenance regimes and schedules. But he was less involved in the administrative and non-revenue generating areas of a business. So, Bouvier, after six years with Manchester engineering-services provider Fuss & O'Neill Inc. (F&O), approached his current and former bosses there with what he saw as an opportunity for a more visible — and hopefully profi table — role as professional engineer cum entrepreneur. "I had a couple of discussions about where this could go,'' Bouvi- er said. "They said, 'bring it on.' " In August, F&O announced Bouvier's appointment as an equity partner in one of its af- fi liates, Fuss & O'Neill Manu- facturing Solutions LLC, which helps producers fi ne-tune their operations and does about $2 million in annual billings. The other F&O affi liate is EnviroScience LLC, a consul- tancy specializing in mitigating hazardous materials in buildings that F&O acquired in 1987, which does about $4 million annually. Bouvier, who telecommutes from his home in Syracuse, N.Y., said he invested $50,000 for an unspecifi ed stake in F&O Manufacturing Solutions, whose other owners include two unit partner-executives and the parent company, closely held Fuss & O'Neill Inc. Robert Levan- doski, president of F&O Manufacturing Solutions, and whom Bouvier describes as his biggest champion within the company, said the partner model lets Bouvier and Fuss' 29 other shareholders share in the fi rm's strategic focus and profi ts, giv- ing entrepreneurial- minded employees an incentive to stay if they're looking for more control and independence. The model also makes it easier for F&O to jettison an affi liate if it runs into trouble, said environmental engineer Peter Grose, who is F&O's president and chief execu- tive offi cer, as well as CEO of its two engineering affi liates. Although rare, Grose and Levandoski said versions of the equity-leader model exist in other engineering-focused companies and industries, or at least they should. "I believe it allows me to bring in someone like Larry and I can say to him, 'we've got this bus and we can drive it wherever we want to go,' '' Levandoski said. " … Larry picked out his own seat. All I did was give him the seat.'' Bouvier, whose background is in heavy industrial maintenance as a technician, plant engineer, and maintenance- and plant-engi- neering manager, began his career in 1987 with former Plymouth electrical-products maker O-Z/ Gedney Co., now part of Emerson Electric. Later, he worked for several steel foundries that made castings for automotive parts. He joined F&O, which pro- vides civil-engineering services to the construction, energy, environmental, facilities and infrastructure sectors, in the summer of 2010, starting as a contractor before coming aboard full time. He said he was drawn to the company by peers and clients, all who had nothing but good things to say about it. "I fi nd people in my environ- ment like dealing with the fi rm,'' Bouvier said. As for balancing his intuitions as an entrepreneur against the expectations of his employer, Bouvier, 52, is learning to manage both. He likes, he said, having corporate re- sources to back him, as well as the ability to tap the counsel and expertise of his Manufacturing Solu- tion peers and staff . Nothing about his experiences before or since joining F&O, Bouvier said, are so unique that others cannot aspire to the hybrid equity- leadership perch he achieved. "Anyone can do it,'' he said. "It's a small stake … but it aff orded me a lot of autonomy. I'm in- volved in operating- level decisions.'' DEAL WATCH Vernon Industrial Place sold for $1.28M The 52,000-square-foot Vernon In- dustrial Place property has sold for $1.28 million, brokers said. Tradewind Investments LLC bought six-acre, multi-tenant 77 Industrial Park Road property from Mel-Pet Realty, ac- cording to sole broker Sentry Commercial. Cricket's West Hartford lease Mobilelink CT/Cricket Wireless has opened a West Hartford store, its 29th in the state. The 1,900-square-foot Cricket Wireless store is in a free-standing building at 1022 New Britain Ave., adjacent to the Ctfastrak busway. New England Retail Properties Inc. bro- kered the lease with landlord Ten Thirty Building Co. LLC. $517K New Britain offi ce A three-story New Britain offi ce building is on the market for $517,000, brokers said. The 11,497-square-foot building is on 0.75 acres at 205 West Main St., near city hall and the courthouse, according to list- ing broker Reno Properties Group LLC. It has parking for 55 vehicles. $575K Chrysalis purchase Hartford nonprofi t Chrysalis Center Inc. has purchased for $575,000 a 15-unit apartment building in the city's West End, brokers say. Crown Management LLC sold the three- story brick building at 1 Huntington St., said sole broker Reno Properties Group LLC. It has 12 one-bedroom, and three two-bedroom units. Bank Branches in CT Bank June 2017 June 2016 % Change People's United Bank 149 149 0% Bank of America 134 140 -4% Webster Bank 116 118 -2% Wells Fargo Bank 71 75 -5% TD Bank 70 71 -1% KeyBank 69 NA NA Liberty Bank 55 55 0% JPMorgan Chase Bank 49 50 -2% Citizens Bank 41 44 -7% United Bank 32 32 0% Total Statewide 1,182 1,212 -2% Source: FEDERAL DEPOSIT INSURANCE CORP. 205 West Main St., New Britain. Cricket Wireless, 1022 New Britain Ave., West Hartford. Lawrence Bouvier, Partner, Fuss & O'Neill Manufacturing Solutions LLC Robert Levandoski, President, Fuss & O'Neill Manufacturing Solutions LLC Peter Grose, President and Chief Executive Offi cer, Fuss & O'Neill Inc. "I believe it allows me to bring in someone like Larry and I can say to him, 'we've got this bus and we can drive it wherever we want to go'. [He] picked out his own seat. All I did was give him the seat.'' Robert Levandoski , President, Fuss & O'Neill Manufacturing Solutions LLC. PHOTO | CONTRIBUTED PHOTO | CONTRIBUTED BANKING Connecticut sees fewer bank branches The state lost 2.3 percent of its bank branches over the last year as the rise of digital fi nancial services technology continues to force lenders to re-think their brick-and-mortar footprint.

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