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4 Hartford Business Journal • June 11, 2018 • www.HartfordBusiness.com Week in Review Briefs Report: Amazon's RI supplier relocating to CT's Bradley A Texas vendor that helps Amazon handle order distribution in Rhode Island is shutting down there and planning to set up shop at Connecticut's Bradley International Airport, Amazon confirms. A spokesman for the Seattle online- retail giant confirmed an earlier Rhode Island TV station's report that Pinnacle Logistics, of Fort Worth, Texas, will lay off 149 workers in July. Rhode Island's top labor agency confirmed it was notified of the pending layoffs. Details about Pinnacle's relocation plans to Bradley were unavailable. Pinnacle did not respond to hails for comment. A Bradley spokeswoman declined comment. Bradley is based in Windsor Locks, and is within the Bradley Airport Development Zone that provides tax incentives to manufacturers and others that develop property and hire within it. In Connecticut, Amazon has a mammoth order-fulfillment center off Day Hill Road in Windsor, and is erecting another in North Haven. It also operates a smaller, order-sorting facility in Wallingford. Meanwhile, a host of other Connecticut supply-chain vendors exist to serve Amazon.com customers. 300-unit Vernon apt. complex to start Construction will soon start in Vernon on the first phase of Trail Run, an eventual 300-unit, $57 million riverfront apartment community, its Fairfield developer says. Developer-landlord Zhifeng "Jack" Yang, of Uniglobe Investment LLC, said work on Trail Run's first 96 units — studios, one- and two-bedrooms ranging from 680 square feet to 1,200 square feet — will get underway later in June at 243 Talcottville Road. Also being built is an approximately 7,000-square-foot clubhouse, with fitness center, training studio and outdoor pool. Amenities include covered car ports, electric-car charging stations, and a walking trail along the Hockanum River. Phase two will include 108 units, plus another 96 in phase three, Yang said. Horizon Tech sets $300M investment pool Farmington's Horizon Technology Finance Corp., a New York City liquidity investor and an unnamed insurer are pooling as much as $300 million to diversify Horizon's existing stakes in venture startup loans and other investments. Horizon finance chief Daniel R. Trolio announced its joint venture with Arena Investors L.P., called Horizon Secured Loan Fund I LLC (HSLF). Each is initially putting up $25 million, plus another $100 million in combined equity, to launch their joint fund. Horizon and Arena will jointly control the venture. The unidentified insurer has committed an initial $100 million, and has the option to double that, officials said. Horizon specializes in venture loans to startups in the life sciences, clean-tech and health-data sectors. In addition to loan interest and fees, Horizon borrowers typically repay the lender with stock, stock warrants or other equity. Aetna execs score key roles at CVS Health Aetna President Karen S. Lynch will become the Hartford health insurer's top executive once its $69 billion combination with CVS is complete, officials said. CVS Health announced its new management team for the combined company, which includes key Aetna executives. Under the management structure, Lynch will also serve as executive vice president of CVS Health. She will replace current Aetna CEO Mark Bertolini, who will take a seat on CVS' board of directors. Meanwhile, Richard di Benedetto will remain as president of Aetna International. Shawn M. Guertin, the executive vice president, chief financial officer and chief enterprise risk officer for Aetna, will become the executive vice president and chief financial officer for CVS Health. CVS has said the deal, which keeps Aetna's headquarters in Hartford, is on pace to close in the second half of this year. TOP STORY NY's Marcum acquires W. Hartford accounting firm N ational accounting and advisory firm Marcum LLP has expanded its presence in Connecticut, acquiring a West Hartford-based accounting firm. Marcum, headquartered in New York, announced its purchase of West Hartford's Filomeno & Company P.C. The firm's four partners and 13 associates will join Marcum, which now has five offices in Hartford, New Haven and Greenwich. In addition, Marcum also acquired Filomeno Wealth Management LLC, which offers financial planning, income tax planning, estate planning and investment advice, among other services. Terms were not disclosed and both transactions were effective June 1. Under the deal, CPA Thomas J. Filomeno became office managing partner in West Hartford and partner-in-charge of Marcum Wealth Management. Founded in 1966, Filomeno & Company has provided accounting and auditing, business advisory, corporate tax and individual income tax services. Marcum, one of the largest accounting and advisory services firms in the country, has several offices in New England, including Boston, Portland, Maine and Providence, R.I. BY THE NUMBERS $516.9M Telephone, internet and cable provider Frontier Communication's 2017 net loss in Connecticut, compared to a $134.1 million loss in 2016. $2,279 The amount of state and local taxes collected per person in Connecticut in fiscal year 2015, the second high- est in the U.S., according to a recent analysis by the Tax Foundation. $1.5T The amount of student loan debt in the U.S., a milestone reached during the first quarter of this year. 7 The number of years Stanley Black & Decker has agreed to be a presenting sponsor for the Travelers Champion- ship, under a new deal that begins this month. TOP 5 MOST READ On HartfordBusiness.com • 1. Report: Amazon's RI supplier relocating to CT's Bradley • 2. NY's Marcum acquires W. Hartford accounting firm • 3. Windsor Locks bookseller warehouse to close; 54 jobs lost • 4. 300-unit Vernon apt. complex to start • 5. CT's proposed townhome-sprinkler rule nixed STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/ subscribe Weekly e-newsletters: CT Health Care Weekly www.HartfordBusiness.com/ subscribe Karen S. Lynch Thomas Filomeno is now the managing partner of Marcum's West Hartford office. PHOTO | HBJ FILE