The following highlights noteworthy business news from across North Carolina.
AvidXchange acquires Core Associates: Charlotte-based AvidXchange, a provider of accounts payable (AP) and payment automation solutions for the middle market, has acquired Core Associates, the makers of TimberScan and complementary AP solutions with more than 30,000 users nationwide. According to a press release, through this acquisition AvidXchange is now one of the foremost AP automation providers for the construction market, offering the only complete purchase-to-pay solution for Sage 300 CRE (formerly Timberline), Sage 100 Contractor, Acumatica and Sage Intacct Construction accounting systems.
Thermo Fisher Scientific acquires Durham-based Phitonex: Thermo Fisher recently announced its acquisition of Phitonex, Inc., a Durham-based company that has pioneered a spectral dye platform for high-resolution biology applications designed to accelerate research and development in cell therapy, immuno-oncology and immunology research. According to a press release, Phitonex’s product offering will enable Thermo Fisher to offer greater flow cytometry and imaging multiplexing capabilities to meet evolving customer needs in protein and cell analysis research.
US LBM set to Acquire Jennings Builders Supply & Hardware: US LBM, a leading distributor of specialty building materials in the United States, announced Dec. 23 that it has reached an agreement to acquire Jennings Builders Supply & Hardware, a building products dealer with four locations in western North Carolina. The transaction was planned to close by the end of 2020. Founded in 1984, Jennings Builders Supply & Hardware stocks a full range of building materials, providing its customers with a one-stop-shop solution for custom home building and remodeling projects. In addition to supplying building professionals with windows, decking, flooring, cabinetry, siding, lumber and engineered wood products, Jennings also provides customers with added value services, including design, installation and custom woodwork and interior doors. In addition to Jennings Builders Supply & Hardware, US LBM’s operations in the Carolinas include GBS Builders Supply, Maner Builders Supply, Myrtle Beach Building Supply and Parker’s Building Supply.
Raleigh-based Allbridge names Todd Johnstone CEO: Late last month, the Allbridge Board of Directors announced that Todd Johnstone will join the company as Chief Executive Officer effective January 4, 2021. Johnstone succeeds Dave O’Connell, who will continue as a member on the company’s board of directors. Allbridge is an end-to-end technology solutions provider delivering one connected experience to the hospitality and senior living industries. The company is headquartered in Raleigh, NC with operations in New York, Wisconsin, Texas, and Michigan.
Westermann joins BioAgilytix Labs: BioAgilytix Labs, a bioanalytical testing laboratory specializing in large molecule bioanalysis, recently announced the appointment of Marc Westermann to its commercial leadership team as Vice President of Business Development Europe. Westermann brings more than 25 years of senior corporate executive and commercial operations experience to BioAgilytix, which has its U.S. headquarters in North Carolina’s Research Triangle Park.
Go Store It Finishes the Year with Nine Storage Acquisitions in the Month of December: Go Store It closed on nine storage assets in the span of two weeks last month. According to a press release, the assets were located in Wilmington, NC, Charleston, SC, Asheville, NC, Ft Myers, FL Dallas, TX and Houston, TX. Cape Fear Business believes the Wilmington-area reference applies to the former SaveGreen location on Blackwell Road in Belville, which re-branded to Go Store it last month.
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