Investments
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Secane Gets Modern Train Station Promoting Advantages of Public Transit Investment
From 1871 to today, the Secane train station has been a squat stone structure, that’s become more and more crowded out by the expanding road system that surrounds it, writes Jason Laughlin for The Philadelphia Inquirer. On Thursday, Sept. 5, SEPTA unveiled a new station that is better adapted to its modern surroundings. The new…
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Broomall’s Waterless Works Car Wash Can Expand After Purchase by Parent Company of Blue Book
Waterless Works, a waterless car wash company in Broomall, has been acquired by CoxAutomotive, the parent company of Kelley Blue Book and Autotrader.com, writes Michelle Caffrey for the Philadelphia Business Journal. Waterless CEO and Founder Chris Caporale started the business in 2014 while a student at St. Joseph’s University. A clay-based material is used instead…
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State Investment Would Help Boost Region’s Innovation Economy, Report Says
Pennsylvania’s innovation economy could use a boost in state investment, writes Michelle Caffrey for Philadelphia Business Journal. Infrastructure and resources exist to fuel a vibrant innovation economy, but a lack of state investment holds it back, stated a Brookings Institution’s Metropolitan Policy Program report. Philadelphia and Pittsburgh were well above the rest of the state…
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Crozer-Keystone Owner Sees Future Growth From Trust’s $1.55 Billion Investment
Medical Properties Trust will invest $1.55 billion in Prospect Medical Holdings, which owns Crozer-Keystone Health System in Delaware County, through a sale-leaseback of the hospital management company’s real estate assets in Pennsylvania, Connecticut and California, writes John George for Philadelphia Business Journal. Prospect will use the funds to retire the company’s existing term-loan debt and…
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Retirees: See Why Media Was Named the Best Place to Retire in Pennsylvania
Media is the best place in the state to retire, according to SmartAsset, a website that analyzed all the cities and towns in Pennsylvania, writes Linda Stein for the Daily Times. “I’m retiring here,” said Mayor Robert McMahon when he heard the news. “There are many reasons (Media was chosen). We are safe. It’s a…
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Radnor Commissioners OK 25-year Lease With Willows Park Preserve to Renovate Historic Mansion
The Radnor Board of Commissioners approved a new 25-year lease on June 24 with the Willows Park Preserve, a nonprofit group that plans to renovate the 100-year-old mansion in the park that’s fallen on hard times, writes Linda Stein for Main Line Media News. Under the new lease, the Willows Park Preserve will seek arboretum…
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Upstart Reno Firm Swallows Up Caesars, Including Harrah’s Casino in Chester
Eldorado Resorts Inc.’s $8.58 billion acquisition of Caesars Entertainment Corp. means an underdog from Reno, Nevada will become the largest owner of casinos in the U.S., including Harrah’s Casino and Racetrack in Chester, writes Christopher Palmeri for the Philadelphia Inquirer. In the deal, Caesars shareholders will receive about $12.75 a share, including $8.40 in cash.…
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Delco Firm Seeks Second Facility As Demand for Its Recycled Glass Product Grows
A Delaware County company that turns old glass into a stone-like product for construction projects raised $10 million to open a second facility outside the region, writes Michelle Caffrey for the Philadelphia Business Journal. Eddystone-based AeroAggregates turns recycled glass, often an undesirable product on the recyclables market that municipalities struggle to dispose of, into lightweight…
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Delco to Investors: Our Opportunity Zones Are Open For Business
The Chester waterfront is blessed with two major economic entities–the Talen Energy Stadium, hosting the Philadelphia Union soccer team, and Harrah’s Philadelphia Casino and Racetrack. Beyond that there’s a smattering of businesses and a lot of undeveloped property. Over in Lansdowne Borough, the downtown is poised to experience a growth in shops and restaurants, urged…
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Radnor-Based Avantor IPO Most Valuable Seen in Years
Avantor, a drug-laboratory equipment and chemical supplier, began trading on the New York Stock Exchange Friday, raising about $3 billion for investors with an initial public stock offering of $14 a share that closed at $14.48, writes Joseph N. DiStefano for philly.com. It is one of the most valuable IPOs by a Philadelphia-area company in…
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2 Delco Business Owners Grateful to Small Business Champion For Help Provided
A “small business champion” has spent 25 years helping women in the Philadelphia area start businesses, including two in Delaware County, writes Diane Mastrull for philly.com. Lynne Cutler, who grew up in Wallingford and Swarthmore, is founder and president of Women’s Opportunities Resource Center, (WORC). She was recently named the SBA’s Eastern Pennsylvania Small Business…
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The Semester Vanguard Founder Jack Bogle Taught Weekly Consumer Math Classes at Springfield High School
Jack Bogle’s death last week prompted a number of people to share their remembrances of the man who founded Vanguard and revolutionized the investment industry by creating the world’s first index mutual fund. An especially poignant memory – one that illustrates how down to earth and accessible Bogle was, despite his larger-than-life profile – belongs…
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Brumbaugh Wealth Management Acquires Local Investment Advisory Practice
Brumbaugh Wealth Management, a strategy-driven firm based in Exton that designs comprehensive and flexible financial solutions for clients that help meet the needs of today while laying the foundation for tomorrow, has acquired the local investment advisory practice of a peer in the Lincoln Financial Advisors Corp. The purchase of the Berwyn-based practice of Barbara…
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Radnor-Based eMoney Advisor Inks Deal to Integrate Its Platform with BlackRock’s Retirement Calculator
Radnor-based eMoney Advisor has made a deal to integrate its platform with BlackRock’s retirement income calculator, iRetire, writes Jeff Blumenthal for the Philadelphia Business Journal. This gives financial advisors the ability to move seamlessly between eMoney’s platform, a popular planning tool for independent advisors, and iRetire. With a single sign-on, financial advisors can now build…
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ESPN: Ryan Howard ‘Changes Uniforms,’ Invests in Blossoming Sports Gambling Industry
Following his retirement from baseball two years ago, former Phillies slugger Ryan Howard has turned his full attention to investing, writes David Purdum for ESPN.com. Today, Howard is a partner at SeventySix Capital, the venture capital firm focused on opportunities in a sports betting market that is blossoming all over the country. The Conshohocken-based firm…
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Team Managing Nearly $1 Billion Leaves Merrill Lynch to Launch Investment Firm in Chadds Ford
A team managing close to $1 billion in assets has left Merrill Lynch to start an RIA with Dynasty Financial Partners in Chadds Ford, writes Sean Allocca for Financial Planning magazine. Wyeth Private Wealth specializes in navigating complex tax strategies for high-net-worth individuals. The team is led by CEO Michael Henley, while one of the…
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SeventySix Capital to Host Conference on Future of Sports Tech, Sports Betting on June 26
SeventySix Capital – the Conshohocken-based venture capital firm led by Wayne Kimmel, Jon Powell, and former Phillies All-Star Ryan Howard – has announced a half-day conference, “The Future of Sports Tech and Sports Betting Conference,” to be held on Tuesday, June 26 from 8:30-11:30 AM at The Prince Theater in Philadelphia. Speakers will discuss the…
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Forbes: Ryan Howard’s Social Capital Key to Growing Radnor-Based Investment Firm
Ryan Howard is continuing his involvement with baseball through SeventySix Capital, the Radnor-based venture capital firm, writes Andy Frye for Forbes. Howard, one of the firm’s partners, loves talking about the potential athletes have and their social capital. “When I first came into the league, it was that you sign a deal and get paid,”…
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