School bus acquisition completed; Newmark’s new ownership; Medford leases cell sites.
Mutual Service Office Inc., in Glen Rock, announced Monday its new vendor partnership with sustainability experts Transitioning to Green LLC, in Montville.
Student Transportation Inc. announced Monday it has completed the acquisition of School Transportation Services, in Passaic County. The acquisition will add more than 90 vehicles and annualized revenues of just over $5.4 million. The Wall-based company used availability under its current senior credit facility to fund the acquisition. Management expects the deal to be immediately accretive to shareholders of its common stock.
AEP Industries Inc., in South Hackensack, announced Friday it has completed its acquisition of substantially all of the assets and specified liabilities of Webster Industries in a cash transaction valued at approximately $25.9 million, subject to a post-closing working capital adjustment.
Little Falls-based Sentrx announced Friday Charles T. Saldarini has resigned his position as CEO and chairman of the board to pursue efforts with his own company, The Charles T. Saldarini Group.
BGC Partners Inc., a global brokerage company, reported Friday it has completed its previously announced acquisition of all of the outstanding shares of Newmark Knight Frank. The acquisition of Newmark, with several New Jersey offices, is expected to be accretive to BGC.
Medford Township on Friday signed an agreement assigning cell site leases to Unison Site Management for $1.8 million. The deal allows the town to outsource the management requirements of cell site tenants.