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A Houston-based company plans to begin selling its device on the commercial market after clearing a final hurdle from the U.S. Food and Drug Administration last month.
Soliton Inc. (Nasdaq: SOLY), a medical device company focused on the aesthetics industry, received FDA clearance for use of its rapid acoustic pulse medical device in the short-term improvement of the appearance of cellulite. The new application of Soliton's platform is in addition to the removal of tattoos, which the company received FDA clearance for in 2019.
After rolling out its medical devices commercially last week, Houston-based Soliton Inc. (Nasdaq: SOLY) announced May 10 that it is being acquired.
Soliton, which develops an aesthetic-focused medical device for tattoo removal and cellulite treatment, will be acquired by Allergan Aesthetics, an AbbVie company. Allergan Aesthetics will pay $22.60 per share in cash for each outstanding share of Soliton, bringing the enterprise value of the transaction to approximately $550 million.
Soliton announced the commercial launch of its Resonic devices on May 5. The Houston-based medical device company had received clearance from the U.S. Food and Drug Administration for use of its devices in the short-term improvement of the appearance of cellulite in March. Soliton had also received FDA clearance for the removal of tattoos using Resonic devices in 2019. The company had planned to roll out the devices to a select group of physicians during the second quarter.
Soliton went public on the Nasdaq Capital Market in February 2019, when the company closed an initial public offering at $10.4 million.
This is at least the second local acquisition Allergan — formerly Actavis PLC — has made in less than four years. Before it was acquired by AbbVie in 2020, Allergan acquired The Woodlands-based Repros Therapeutics Inc., a company that develops drugs to treat male and female reproductive disorders. That deal was announced in December 2017.
A Houston based Restaurant Management Company makes 2 acquisitions in the last 6 months, making eating out more convenient and helping to increase Greater Houston's economic diversity.
HungerRush Acquires OrdrAI and its AI-Driven Text Message Ordering Solution for Restaurants
Self-Service Ordering Drives Revenue for Restaurants Who Want to Optimize "No-Contact" Options
HOUSTON, Dec. 3, 2020 /PRNewswire/ -- HungerRush™, a CapStreet portfolio company, announced today that it has acquired OrdrAI™, a leading text and voice ordering provider for the restaurant industry. This acquisition will extend the capabilities of the HungerRush Restaurant Management System through the addition of a text-to-order solution.
Artificial Intelligence (AI) driven texting helps restaurants increase order throughput in their business by adding to their digital ordering channels. Digital ordering provides a fast, easy, and accurate way to receive orders accelerating new customer acquisition, boosting repeat business from existing customers, while also providing a convenient and safe solution for restaurant customers to order their food for pick-up or delivery.
About HungerRush
HungerRush helps restaurants compete in the toughest business on earth. There are a ton of options. Loyalty is hard to get. And preferences are changing fast.
HungerRush offers a fully integrated restaurant management system that lets the restaurant own the relationship with their customer by mastering operational efficiency, creating awesome guest experiences with ease, and squeezing customer data for every drop of insight. The easy-to-use, highly configurable system includes digital ordering, loyalty and rewards, delivery management and support, takeout and curbside communications, no-contact capabilities, reporting and management, and now with the acquisition of OrdrAI, voice and text message ordering.
All so you can focus on doing what you love: serving great food. For more information, visit https://www.hungerrush.com/
Houston-based software company HungerRush is building on its direct online-ordering capabilities with a new acquisition.
HungerRush acquired New York-based 9Fold, a developer of software for online ordering and digital marketing, the firms announced May 12. Financial terms of the deal were not disclosed.
"This acquisition will help the restaurant industry move further away from relying on third-party delivery providers," said Perry Turbes, CEO of HungerRush. "9Fold engages customers in a marketing-oriented website, which helps them reduce unnecessary costs and gain access to customer data and insights to better market to their customers."
9Fold develops online-ordering systems for restaurants, as well as marketing and loyalty program services to increase customer engagement with outreach through email and text messages. HungerRush is a provider of point-of-sale restaurant management software and multichannel digital-ordering systems. With the acquisition of 9Fold, HungerRush is adding more digital ordering capabilities to its portfolio.
HungerRush is a portfolio company of Houston-based private equity firm The CapStreet Group. With $924 million in assets under management as of 2021, The CapStreet Group ranked No. 2 on the Houston Business Journal's 2021 Largest Venture Capital and Private Equity Firms List. The CapStreet Group has previously invested in other Houston-based companies, including ATM operator Cardtronics (Nasdaq: CATM) and health care governance software developer Symplr.
Rural Telecommunications of America Inc.
Houston-based Rural Telecommunications of America Inc., or RTA, acquired Eastland, Texas-based TXOL Internet, the firms announced May 13. Financial terms of the acquisition were not disclosed.
Through the acquisition of TXOL, RTA is furthering its strategy of narrowing the "digital divide" between people living in rural and urban settings, the company said. TXOL has provided internet services to customers in Eastland and the surrounding region for more than 20 years.
Additionally, RTA acquired Smithville, Texas-based SCT Broadband LLC, the companies announced May 4. Financial terms of that deal also were not disclosed. SCT Broadband provides wireless and fiber internet service for customers between Houston and Austin.
"Joining RTA's family is truly exciting, but more importantly, we will be rapidly expanding SCT's service area and internet services," said Erich Kaiser, president of SCT Broadband.
Houston-based Gimmal LLC, which makes information governance and compliance software, acquired Pittsburgh-based Sherpa Software, a provider of enterprise data governance and e-discovery services, the firms announced May 5. Financial terms of the acquisition were not disclosed.
Through the acquisition of Sherpa Software, Gimmal adds new data governance and e-discovery capabilities to its product suite, the company said. Sherpa Software's products enable users to locate data for regulatory compliance, litigation or investigations; highlight content that might put a company at risk of violating certain regulations; and more.
Houston-based Symplr, which provides medical compliance software, agreed to acquire Woburn, Massachusetts-based HealthcareSource HR Inc. from investment firm Francisco Partners, the firms announced May 17. Financial terms of the deal were not disclosed.
HealthcareSource provides talent management software services focused on the health care industry. Symplr develops governance risk management and compliance software to improve health care efficiency with data management, workforce management, contract and spending management, compliance and quality services and more. Symplr said the acquisition of HealthcareSource will help its customers improve hiring speed, staff engagement, team skillsets and employee retention while reducing labor costs.
Houston-based Lexitas, a national provider of legal support services to law firms, announced its acquisition of Imber Court Reporters based in Valencia, California. Imber focuses on workers' compensation matters, serving customers including law firms, third-party administrators, insurance companies and corporations across the state of California.
Houston-based engineering firm S&B Infrastructure Ltd. announced its acquisition of Technology Associates Inc. on May 3. Financial terms of the deal were not disclosed.
Technology Associates Inc., or TAI, is a provider of technical services for the maritime industry. The firm has approximately 80 employees located in New Orleans and Vishakhapatnam, India. Under the S&B Infrastructure umbrella, TAI will offer its services for vessels as TAI Engineers LLC.
Sysco keeps marching on bringing specialty Italian meats into it's distribution network increasing it's Global footprint and helping to increase Greater Houston's economic diversity.
HOUSTON, May 20, 2021 (GLOBE NEWSWIRE) — Sysco Corporation BB #:105962, the leading global foodservice distribution company, announced today it has entered into an agreement to acquire Greco and Sons BB #:187499, a leading independent Italian specialty distributor in the United States from Arbor Investments and the Greco family.
Greco and Sons operates 10 distribution centers servicing 22 geographies nationwide, with approximately $800 million in annual revenue.
An 8 acre development at Ellington Spaceport is bringing an additional 250 jobs and additional economic diversity to the Greater Houston economy.
Griffin Partners to develop 115K-SF Houston Spaceport facility for Collins Aerospace
The Houston Spaceport will be an aerospace hub at Ellington Airport.
COURTESY
Hamilton Sundstrand, a subsidiary of Collins Aerospace, has tapped Houston-based commercial real estate firm Griffin Partners to provide development management services for a 115,000-square-foot project within the Houston Spaceport.
The project will break ground June 7, according to the Houston Airport System. It will be built on 8.3 acres in the south quadrant of the Ellington Airport and will provide space for manufacturing and office workers. Hamilton Sundstrand will also have right of first refusal to lease another 8 acres within three years.
When it is completed next summer, the Hamilton Sundstrand facility will provide 50,000 square feet of corporate office space, and an additional 10,000 square feet will be used as accelerator space for budding entrepreneurs and businesses.
Powers Brown Architecture is leading the architectural design of the facility, and Harvey Builders is completing construction. Both Powers Brown and Harvey Builders are based in Houston.
Hamilton Sundstrand’s facility is expected to bring an additional 250 jobs to the city.
Increased shipping activity through Port Houston helps boost city's industrial market and helps diversify the Greater Houston economy !
A surge in shipping activity going through the Port of Houston is expected to drive demand for industrial warehouse space in the coming years, according to a report from New York-based commercial real estate firm Newmark (Nasdaq: NMRK).
The report found that over the past five years, the Port of Houston has seen a 40% increase in 20-foot equivalent units, the industry standard for measuring shipping volume. The uptick in cargo going through Houston’s shipping channels was nearly double what other ports have seen over the same period.
Houston is one of the top trading locations in the U.S. thanks to the Port of Houston.
CHRIS KUHLMAN
The Port of Houston, meanwhile, boasts a market warehouse inventory of 478.5 million square feet — the third largest among major U.S. port markets, which has made the Bayou City attractive to shipping companies looking to avoid more crowded points of entry.
Corn chip manufacturer investing fresh capital to expand Rosenberg plant to increase an already big footprint and increase the economic diversity of Greater Houston.
The largest Frito-Lay facility in Texas is about to get bigger after an expansion in Rosenberg that will bring 160 new, full-time jobs.
The Plano-based snack maker announced a $200 million investment to expand its Rosenberg plant. The announcement will add two manufacturing lines for Funyuns and tortilla chips and increase capacity at its warehouse in Fort Bend County. Completion is planned by 2022.
The Frito-Lay facility in Rosenberg is undergoing another expansion.
Courtesy photo
The Frito-Lay Rosenberg plant, at 3310 Texas 36, employs more than 750 people and produces more than 117 million pounds of snacks annually.
Laura Maxwell, senior vice president of supply chain, PepsiCo Foods North America, said in an announcement. “The Rosenberg site has the largest footprint of any Frito-Lay facility in Texas, producing snacks for Texas, Louisiana, Oklahoma, Kansas and Georgia, and several other parts of the country when we hit times of peak demand.”
Houston software firm targets hiring, product expansions after investment
Houston-based software firm CloudNine plans to hire and expand its product suite after closing "a major funding round," the firm announced June 14.
"Within the last decade, the rapid addition of new communication mediums has made identifying, collecting and storing information in response to a request for production in a lawsuit or investigation more difficult than ever to capture and process," said Tony Caputo, CEO of CloudNine. "This investment capital will enable us to increase our investment in additional product offerings and allow both new and existing customers to rely on CloudNine to manage e-discovery complexity."
Portions of the investment will go toward hiring, CloudNine said. The company plans to increase its headcount by more than 50% in the next three years. CloudNine will also invest in developing new software offerings to simplify the e-discovery process. The equity investment will also go toward funding future acquisitions.
CloudNine was founded in 2002. Headquartered in Houston, the firm has additional locations in Raleigh, North Carolina, and Dayton, Ohio, as well as remote employees in the U.S. Caputo, a veteran in the legal and e-discovery technology industry, joined CloudNine as CEO in 2019.
Today we have two examples of Houston increasingly robust economic diversity. First a Houston based private space company wins a contract to be one of the first private companies to land a spacecraft on the moon, and secondly a world class Silicon Valley startup investor is opening a Houston office this year.
HOUSTON, May 31, 2019 /PRNewswire/ -- Intuitive Machines will join NASA's new era of lunar exploration with a robotic landing on the Moon in 2021, under a contract award announced today by NASA.
The firm, fixed-price contract for no more than $77,247,500 with an additional incentive of $2,500,000 calls for Intuitive Machines to develop, launch and land its Nova-C spacecraft on the lunar surface with a payload of NASA and private experiments. The mission will be the first under NASA's Commercial Lunar Payload Services (CLPS) program. The award places Intuitive Machines on a path to become one of the first private U.S. companies to land a spacecraft on the Moon.
A concept illustration of Intuitive Machines' Nova-C class moon lander, which has been chosen for NASA's Commercial Lunar Payloads Services program.
Houston-based Intuitive Machines will expand its footprint at the Houston Spaceport as part of its effort to become the first private U.S. company to land a spacecraft on the moon.
The company was the first tenant announced for the Spaceport, leasing 9,635 square feet in the Houston Aerospace Support Center located at 13150 Space Center Blvd., according to Houston City Council documents. There, Intuitive Machines has been developing and testing its lunar lander for deployment on the moon.
Based on its initial growth in aerospace operations, Intuitive Machines determined it needed to expand its operations at the Houston Spaceport with a new 125,000-square-foot facility on a 12.5-acre plot.
Once construction is completed, Intuitive Machines will move its operations from the Houston Aerospace Support Center to the new facility. Intuitive Machines said the larger facility will allow it to double the number of employees working for the company from 120 to 250.
A Los Angeles based industrial real estate firm buys property along the Houston Ship Channel, but the real story is the tenet it signed to develop the parcel. MTF Holdings is refining Hydrogen gas in a way that is greener to the environment and helping to increase the economic diversity of Greater Houston.
HOUSTON, June 18, 2021 /PRNewswire/ -- Industrial Realty Group, LLC (IRG), one of the country's largest owners of commercial and industrial properties, announced today that it has acquired 23.8 acres along the Houston Ship Channel in Houston, Texas.
A portion of the site was quickly leased to MTF Holdings, a company providing cutting edge technology for the energy sector, utilizing green production methods.
"MTF is a great fit for this project," said Stuart Lichter, President of IRG. "We are working together to invest into the site and develop a state-of-the-art processing plant with storage and terminal operations."
"We are excited to be partnering with IRG to bring our hydrogen-based technology to the petrochemical capital," said Paul Perez, Founder and President of MTF Holdings. "We believe the environmental and economic implications of MTF's REEC hydrocarbon and waste stream recycling process will significantly impact the energy sector as well as the broader industrial economy."
About MTF
MTF Holdings, LLC is a provider of hydrogen-based technologies that treat, reduce or eliminate undesired residual streams, carbon dioxide and nitrous oxide emissions from existing refining processes, offering immediate, quantifiable environmental benefits.
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