Hartford Business Journal

8 Hartford Business Journal • February 19, 2018 • www.HartfordBusiness.com Reporter's Notebook Gregory Seay | gseay@HartfordBusiness.com Real Estate, Economic Development/Construction, Banking & Finance and Manufacturing MANUFACTURING New Britain metalworking family values their CT roots F or three generations, the Karabin family has owned and managed a profitable 70-year- old New Britain metalworks, shaping strands of wire and stamped metal into automotive and industrial springs, bearing rings, and value-added products to healthcare markets. Acme Monaco, whose predecessor, Acme Spring, was founded in 1947 in nearby Plainville, is a custom metalworks shop whose previous owner devised innovative miniature bearing rings for General Motors. John and Helen Karabin bought Acme Spring in 1965 from its founder, a childhood friend, and over the years greatly expanded its product catalog to some 5,000 items. It was a fortuitous event for John Karabin and his business, since both friends operated in the shadow of some of the nation's leading bearings producers at the time, among them Connecticut's former Fafnir Manufacturing and former Marlin Rockwell, now part of industrial giant TRW Inc. That growth continues today under second-generation CEO Michael Karabin and his daughter, Rebecca Karabin-Ahern, and his son, Lucas, both co-presidents. The company's current name and business model stem from the 1972 acquisition of a rival New Britain spring maker, Monaco Spring, from Monarch Machine Co. The companies merged in 1984 to form Acme Monaco. Michael Karabin says Acme Monaco's intense focus on product quality and its treatment of workers as if they were family have enabled the enterprise over the years to expand its production and markets to Asia and Europe, and to establish a second production beachhead in New England. In 1989, Michael Karabin seized on an invitation — and a pledge of economic support — from the city of Presque Isle, Maine, to open its first plant on the grounds of a former air base. A second plant followed in 2006. It's been a profitable relationship for both, officials say. Last October, the Karabins joined Presque Isle, a city of about 9,600 residents, and state dignitaries for a ribbon-cutting of Acme Monaco's 16,300-square-foot plant, which is 5,000 square feet more than before. There, it makes orthodontics hardware, including archwires, guidewires and other metal components for kids' braces, as well as producing super-thin guidewires for medical catheters. The Presque Isle plant employs 70; another 130 are in New Britain. Maine provided state assistance that, together with federal grants and $1 million in equity from the Karabins — mainly for equipment — funded the $3.1 million expansion. The city also fixed the company's lease, which includes property taxes, for the 15-year lease term. Michael Karabin said Maine's availability of labor during the time when its jobless rate was high made Presque Isle's offer easy to accept. Presque Isle City Manager Martin Puckett says the company "has been a very stable business and very important to our local economy.'' The Presque Isle expansion coincided with the recent expansion of production- storage facilities on Acme's 20-acre New Britain headquarters campus. Relocation rebuff Michael Karabin said Acme Monaco has been approached over the years by other states about relocating, but rebuffed them. Connecticut is home to him and his immediate and extended family. Karabin-Ahern said the company tries to foster a close-knit, familial atmosphere among its employees, many of whom have worked there for decades. "These are our roots,'' Karabin- Ahern said. "This is where I'm raising my family.'' Acme Monaco staff earn extra vacation or early time off, among other perks, for meeting productivity-efficiency targets. The Karabins and their aides declined to specify revenues for the company. However, Michael Karabin said it expects to expand staffing 10 percent this year at its Connecticut and Maine plants. However, he said staffing remains a challenge for Acme Monaco. DEAL WATCH $575K Canton sale Alexis Aerospace Industries LLC has acquired an approximately 7,7000-square- foot Canton industrial building to house its aeroparts maintenance-repair operations, brokers say. Gelcan Realty LLC sold the 10-year- old building at 200 Smith Way, according to exclusive broker Goman+York Property Advisors. The building has about 3,000 square feet of warehouse space and 4,700 square feet of office space. A certified defense contractor, Alexis, has occupied a smaller, leased building in the Terryville section of Plymouth. Proto Group leases North Haven commercial broker The Proto Group recently brokered a series of Greater Hartford commercial leases. Proto was sole broker, except where noted. In Meriden, Fosdick Fulfillment Corp. leased 40,738 square feet of warehouse space on a month-to-month lease. The landlord is represented by The Proto Group of North Haven and Matt O'Hare of CBRE of New Haven represented Fosdick Fulfillment from Wallingford. In Hamden, New Haven Radiology Associates of Woodbridge will be relocating their Woodbridge corporate offices to 2558 Whitney Ave. The lease is valued at $69,300, said Proto, the tenant's broker. Press/Cuozzo Realtors represented landlord Cucinellio Whitney LLC. UHart finishes upgrades The University of Hartford, working with designer/contractor The S/L/A/M Collaborative, has completed several construction projects on its West Hartford campus. They include a, 5,800-square-foot interior makeover of second-floor library space, housing the Maurice Greenberg Center for Judaic Studies; and a 3,000-square-foot addition and 82,260-square-foot renovation to the Gengras Student Union. S/L/A/M Construction Services also collaborated with JCJ Architecture on a renovation of the 10,140-square-foot sports center natatorium, officials said. The redo creates a new courtyard in front of the indoor pool. Yang's Taekwondo buys The operator of Yang's U.S. Taekwondo Center in Newington has purchased for $500,000 a 3,600-square-foot New Britain building for its martial-arts training classes. Yang's Property LLC bought the former Webster Bank branch at 275 Newington Ave. from Arcesi Family Investment L.P., according to sole broker Reno Properties Group LLC. Yang's U.S. Taekwondo plans to relocate from leased space on the Berlin Turnpike in Newington to its new quarters, Reno said. Triple G buys in Manchester South Windsor's Triple G Scaffold Services Corp. has purchased a 13,034-square-foot building in Manchester for $550,000, brokers say. Sanrico Realty LLC sold the building on 1.22 acres at 23 Sanrico Drive, said sole broker Sentry Commercial. 200 Smith Way, Canton. UHart's Gengras Student Union. PHOTO | CONTRIBUTED PHOTO | CONTRIBUTED Siblings Rebecca Karabin-Ahern and Lucas Karabin are co-presidents of the family owned Acme Monaco. HBJ PHOTO | STEVE LASCHEVER

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