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Biz West



Independent Bank closing branches in Northern Colorado

Independent Bank Group Inc. (Nasdaq: IBTX), which finalized a $1-billion acquisition of Guaranty Bancorp late last year, announced it would close eight branches in Colorado, including two in Loveland and one each in Greeley and Fort Collins. “The proposed changes are expected to reduce overlap of brick and mortar operations, while keeping the organization well-positioned to support existing customers and future growth,” according to an Independent news release. The Northern Colorado branches are set to close by May 31. “By streamlining our presence, we increase our ability to give back and channel our resources,” Independent Bank CEO David Brooks said in a prepared statement. It is unclear how many employees will be impacted as a result of these closures. Representatives with Independent could not be reached for comment Friday. “Independent Bank is sensitive to decisions that impact employees, and as such, will make every effort to transition those affected by the consolidation to other areas within the organization or offer additional resources to support them through this alignment,” the bank’s news release said.

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DMC Global blows away Q4 earnings, sales compared with year prior

BOULDER — DMC Global Inc. (Nasdaq: BOOM) posted net earnings of $1.02 per share for the fourth quarter of 2018, a significant increase over the same period a year prior, when the company recorded a net loss of 13 cents per share. The Boulder-based company had net income of nearly $15.3 million for the period ended Dec. 31. It’s an improvement on the fourth quarter of 2017, when the company had a loss of more than $1.9 million. Net sales for the company also grew significantly, from $54.4 million in 2017 to a record $90.3 million in the fourth quarter of 2018. The results exceeded the company’s forecasted range of $82 million to $85 million and were driven by the accelerated production and delivery of a large chemical-industry order. The company operates in two sectors: oilfield products and services, and industrial infrastructure. The oilfield products and services sector is served by DynaEnergetics, while the industrial infrastructure sector is served by its NobelClad business. DynaEnergetics is an international developer, manufacturer and marketer of advanced explosive components and systems used to perforate oil and gas wells. NobelClad is the world’s largest manufacturer of explosion-welded clad metal plates, used to fabricate capital equipment in industrial sectors. At the end of 2018, DMC Global declared a quarterly cash dividend of 2 cents per share. For the full year of 2018, sales were $326.4 million, up 69 percent from the $192.8 million the company had in 2017. Full-year net income was $30.5 million, or $2.04 per share, versus a net loss of $18.9 million, or $1.31 loss per share, in 2017. “The exceptional effort and execution by our teams at DynaEnergetics and NobelClad enabled DMC to deliver record financial results for the fourth quarter and full fiscal year,” Kevin Longe, president and CEO, said in a prepared statement. “It was an encouraging finish to a year that included a number of important strategic and operational accomplishments.” Looking ahead, the company expects its first-quarter 2019 sales to be between $82 million to $85 million, compared with the $67.3 million the company reported in the first quarter of 2018. DynaEnergetics is expected to report sales in the range of $64 million to $67 million, while NobelClad sales are expected to be about $18 million.

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United Way of Larimer County to relocate, Teaching Tree to expand

FORT COLLINS — United Way of Larimer County will move this year from its location on Pine Street in Fort Collins to a new space nearby on Oak Street. The move will allow the growing Teaching Tree Early Childhood Learning Center, which shares space in United Way’s Pine Street building, to expand its operations and take over the entirety of the building. Teaching Tree, which has a waiting list of about 300 kids, will have the space to add classrooms and double its capacity from 100 to 200 students. For years, United Way leased the space at 424 Pine St. from the city. Teaching Tree took over that lease last month. “It is much more cost-effective for Teaching Tree to expand in place” within the Pine Street building, which was more square footage than United Way needed, United Way’s marketing and engagement director Amanda Sammartino said. The new facility at 525 Oak St. is expected to be ready for United Way to move in July. Fort Collins-based development firm Brinkman owns the property and will be subsidizing the cost of building improvements. “We have long admired the positive catalyst United Way serves as in our community,” Brinkman CEO Kevin Brinkman said in a prepared statement. “We believe this facility will allow them to further grow their positive impact as a non-profit leader. This partnership is one we’re proud of and committed to.” The Oak Street facility is envisioned as a hub for nonprofit organizations. Sammartino said United Way will share the space with three to five groups, which United Way is in the process of identifying. “The stars are aligning to help us make a huge impact in the community,” she said of the four-pronged collaboration between United Way, Teaching Tree, Brinkman and the city.

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Vail buys 2 resorts in Australia

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) has entered into an agreement to Australian Alpine Enterprises Holdings Pty. Ltd, a firm that owns and operates Falls Creek Alpine Resort and Hotham Alpine Resort in Victoria, Australia. The acquisition, which is expected to close in June, includes the ski school, retail and rental, reservation and property management operations at both resort areas, according to a Vail Resorts news release. The purchase price is $174 million Australian dollars (about $124 million U.S). “We are thrilled to welcome the guests and employees of both Falls Creek and Hotham into the Vail Resorts family and further strengthen our position in Australia, which is one of our most important international markets,” Vail CEO Rob Katz said in a prepared statement. “The acquisition of the leading mountain resorts in Victoria is part of our continued strategy to drive season pass sales and build loyalty with guests from around the world.”

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Bohemian Foundation offers workshops for Muse grant program

FORT COLLINS — Bohemian Foundation, a Fort Collins-based will host a series of workshops to inform local nonprofit organizations about grant opportunities that may be available as part of the foundation’s Muse program. Muse, which supports Weld and Larimer groups with contemporary music as their primary focus, with up to $20,000 in grant funding. “Funding requests must align primarily with one of Bohemian Foundation’s Music Programs goals: to provide youth with encouragement and opportunities to express themselves through music; to help musicians and music-related businesses grow and develop; and to increase performances of live music,” according to Bohemian Foundation news release. Information workshops will be held at 4 p.m. on March 12 at Music District, 639 S. College Ave., Fort Collins; 4 p.m. on March 19 at Rialto Theater Center, 228 E. 4th St., Loveland; and 5 p.m. on March 27 at Bohemian Foundation, 240 E. Mountain Ave., Fort Collins. Visit bohemianfoundation.org/music-programs/muse/application-assistance for more information.

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Denver to host first cannabis real estate summit

DENVER — The Greater Denver Chapter of the Institute of Real Estate Management will host the National Real Estate and Cannabis Summit this summer. The one-day, first-of-its-kind event is set for June 13 at Gaylord Rockies Resort and Convention Center in Aurora. The purpose of the event is to “provide information to real estate professionals to navigate the new age of expanding cannabis legalization,” according to an Institute of Real Estate Management news release. “Understanding legal cannabis can be challenging for real estate professionals, but this event will help everyone address these challenges in a proactive way,” Dan Murphy, the institute’s greater Denver chapter president-elect, said in a prepared statement. “The knowledge being shared at this event will not be available anywhere else, and real estate professionals would be wise to leverage Colorado’s experience in navigating legal cannabis for the past five years.” The keynote will be delivered by former Colorado Deputy Attorney General David Blake and  Melissa Kuipers-Blake, the emerging regulated industries chairperson at Brownstein Farber Hyatt & Schreck.

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Sarah MacQuiddy

Sarah MacQuiddy, president of the Greeley Area Chamber of Commerce for the past 15 years, announced Thursday night that she will retire on June 30. BizWest/Chris Wood

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Greeley Area Chamber president announces retirement at 100th anniversary dinner

GREELEY — Sarah MacQuiddy, president of the Greeley Area Chamber of Commerce announced her retirement Thursday evening during the chamber’s annual dinner. The dinner, which celebrated the chamber’s 100th anniversary, drew a record 1,056 attendees. MacQuiddy will step down from the leadership position she has held for 15 years on June 30 in order to spend more time with family, she said. “You can’t do this job and have this much going on in this community without the most amazing team in the whole world,” she said. “… There aren’t enough thank yous to say.” MacQuiddy isn’t the only member of chamber leadership departing. Steve Baker of Sears Real Estate and Dan Weaver of the University of Northern Colorado are retiring from the board of directors and were recognized at Thursday’s event.  

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timeout.weld Sept. 5, 2014

From left, Sherrie Merrow, compressed natural-gas adviser for Noble Energy; Weld County Commissioner Barbara Kirkmeyer, Noa Binyamin, Israeli government-relations adviser for Noble; and Weld County transportation planner Elizabeth Relford pose in front of one of the CNG buses Noble helped fund for the Weld RE-1 School District. Kirkmeyer and fellow commissioner Sean Conway conducted a tour of the county’s CNG stations in late August for Binyamin, who said she wanted to visit Weld County to learn how to implement a similar project in Israel. Courtesy Weld County

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timeout.united – Sept. 5, 2014

Seventeen women from the Fort Lupton area graduate Aug. 23 from a program that teaches home-based child-care providers about child development. The free, 12-month Providers Advancing School Outcomes program, which is funded under United Way of Weld County’s Promises for Children, included 120 hours of early-childhood training. Courtesy United Way of Weld County

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timeout.broomfield – Sept. 5, 2014

Broomfield Chamber of Commerce staff members – from left, Amanda May, director of communications; Jenna Finerty, director of business resources; Jennifer Kerr, president and chief executive; Miriam MacKay, director of membership engagement; and T.J. Strasser, director of business development – attend the chamber’s Taste It Broomfield event Aug. 20 at the 1stBank Center.  Courtesy Broomfield Chamber of Commerce

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Chrisland changing name, joining global real estate group

FORT COLLINS — Chrisland Inc., a Northern Colorado real estate brokerage, will change its name to Affinity Real Estate Partners Inc. effective Feb. 28 to coincide with the company joining NAI Global, a New Jersey-headquartered real estate firm with more than 400 offices worldwide. The company still will be locally owned by Ryan Schaefer and Jake Hallauer, who will be promoted to company president. Schaefer will maintain his role as NAI Affinity’s CEO and lead the company’s investment activities. Hallauer will be the company’s managing broker. The new affiliation will allow Affinity to tap into NAI Global’s network of resources, which include offices as nearby as Denver and as far-flung as New Zealand. “We get to leverage a global network of over 400 offices,” Schaefer said. “That can benefit our clients because we are able to circulate our listings throughout that network and access additional services through affiliated companies.” Bringing NAI Affinity into its network is also expected to benefit NAI Global. “Adding the Fort Collins (metropolitan area) to the NAI map has allowed us to combine in-market strengths and form a powerful bond of insights and execution to address clients’ local and multi-market challenges globally,” NAI Global CEO Jay Olshonsky said in a prepared statement. “We are delighted to welcome the NAI Affinity team to represent this vital market for NAI Global.” With the transition to NAI Global, Affinity will bring aboard new staffers including client advisor and broker associate Mark Bishop and licensed assistant Hunter Price. NAI Affinity will assign the use of the Chrisland name to former chairman and shareholder Nick Christensen, who still is a partner with Schaefer and Hallauer in several real estate investments. Christensen will provide non-brokerage advisory services. “I greatly appreciate the work Ryan, Jake, and their team have done to grow the company over the years and wish them continued success under their new name,” Christensen said in a statement. Schaefer said he and Christensen will continue to partner on the existing investments but Chrisland will operate independently of Affinity.  

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Colorado Early Colleges buys Windsor office space for $5.5M

WINDSOR — Colorado Early Colleges, a group of tuition-free, open enrollment public charter schools with locations in Fort Collins, Parker, Aurora and elsewhere in Colorado, recently bought an office building in Windsor for $5.55 million. The roughly 35,000-square-foot building at 4701 Royal Vista Drive will be home to CEC Windsor Middle School. The new school is currently enrolling students for this fall, according to CEC’s website. The seller of the property is listed as Meyers 4701 LLC, a company registered to a residential address in Eaton.

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Crow Hop to host Meet the Newsroom in Loveland

LOVELAND — Members of the public will have a chance to meet the people behind the bylines, Feb. 26, when BizWest conducts the fifth in a series of “Meet the Newsroom” events, this time in Loveland. Crow Hop Brewery and Taproom at 214 E. Fourth St. will host the event. The gathering will be conducted from 3:30 to 4:30 p.m. that day. Attendees can learn: How to submit press releases. How to get their company in BizWest lists and directories. Which reporters cover which beats. Essential information to include in a press release. What types of stories the publication is seeking. What BizWest events are upcoming. Attendees can RSVP using the BizWest Facebook page.

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Polis to speak at NoCo Hemp Expo

DENVER — Gov. Jared Polis will be a featured speaker at the NoCo Hemp Expo taking place March 28-30 at the Crowne Plaza DIA Convention Center. “Hemp is an amazingly versatile crop, and I’m proud to see Colorado’s rural communities leading the way to unleash its untapped economic potential,” Polis said during his campaign in 2018. “As governor, I’ll support our farmers and innovators who want to develop industrial hemp — and I’ll tell the federal government to stay out of their way.” Polis had advocated for the expungement of non-violent cannabis-related criminal records, expansion of medical marijuana and non-cooperation with enforcement of federal prohibition. “We are honored to have Gov. Polis, a friend, a believer, and a leading ally of the hemp industry, speak at NoCo6,” said Morris Beegle, co-founder of Colorado Hemp Co., in a prepared statement. Colorado Hemp Co. produces NoCo Hemp Expo. “Jared has supported this industry for a long time, not only with words, but with his actions as a congressional representative for Colorado,” Beegle said. “We are excited to hear what he has to say about the future of hemp and the opportunities that exist not only for Coloradans, but for people across the country and around the globe.” Polis joins a lineup of speakers that includes David Bronner, cosmic enlightenment officer of top-selling Dr. Bronner’s natural soaps; and Michelle Barry, co-founder and CEO of VITA Technologies, which provides customized innovation research.

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