New York is a hub for business
transactions. Here we take a look at
three recent ones.
The Parker New
York has been acquired by GFI Capital
Resources Group and Elliot Management Corporation affiliates. $100m+
has been committed by these companies for renovation purposes. With this money residential condo units will
be incorporated into the premises.
Thomas Juul-Hansen is leading the design team.
The Little Rock Sedgwick Building
has been purchased for $4.5m by New York’s Woodmont Hardin. Located at 400 Hard Road, it has nearly
50,000 square feet office space capacity.
It is being sold by Responsive Education Solutions.
A new position if 764,359 shares of Avanos
Medical Inc has been purchased by Bank of New York Mellon Corp in the third
quarter. This has been valued at
approximately $52,359,000. Other shares were purchased by Bollard Group
LLC (valued at $100,000); Whittier Trust Co (valued at $110,000) and Public
Employees Retirement System of Ohio (valued at $136,000).
It’s more than a name obviously but when a successful company changes it, one has to wonder why. New York & Company – the successful corporate women’s apparel firm – will soon become RTW Retailwinds next Monday. As part of its rebranding move, this will be the name under which it will be traded on the NYSE on November 20; with the RTW ticker symbol.
It’s not just the name that is changing though. For rebranding purposes there are other transformations being undertaken such as an expansion of Fashion to Figure (its plus size brand) as well as a brand new lingerie lifestyle brand and a Kate Hudson casual lifestyle collection. Greg Scott, CEO of the firm explained:
“RTW reflects our vision to maximize the power of our platform to create destination celebrity and lifestyle brand assortments across categories and channels. We move forward strongly positioned to continue our expansion of NY&Co, expanding celebrity brands with the upcoming launch of Kate Hudson and entering intimate apparel – a core competency of our team.”
Over in Buffalo, We Care Transportation (Buffalo’s most expansive non-emergency medical transportation provider) is ditching its name to become Cedar Bus Co. In its explanatory press release it was written that:
“The change reflects the organization’s evolution and ongoing commitment to clean energy and the communities they serve.”
In time for its 5th anniversary, Figliulo & Partners will simply become Fig, in some measures “to tie together the agency’s many developments since it opened in 2013.”