M&A Roundup: A&M Industrial, ALPHAGILITY, Lakeland Bancorp, Tabula Rasa

By ROI-NJ Staff
New Jersey | Jan 7, 2019 at 10:50 am

A look at some recent mergers and acquisitions involving New Jersey companies.

A&M Industrial Inc./Boro Supply Co.

Rahway-based industrial supplier A&M Industrial Inc. has merged with Fair Lawn-based Boro Supply Co., a provider of metalworking equipment, A&M announced recently.

The existing Boro Supply location will serve as A&M’s North Jersey hub, with a machinery showroom and inventory of cutting tools and abrasives, the firm said in a news release.

“Boro Supply, like A&M, has distinguished itself as an organization with an unwavering commitment to the success of their customers,” A&M President David Young said in a prepared statement. “Joining forces enables us to offer customers a convenient North Jersey hub, as well as a broader range of industrial products and inventory management services.”

Financial terms were not disclosed.

ALPHAGILITY Acquisitions LLC

ALPHAGILITY Acquisitions Inc., a portfolio company of Parsippany-based Parsippany Partners, is acquiring certain assets from Always For Me LLC and Swim & Sweat Inc., it announced recently.

Always For Me is a New York City-based online retailer of plus-size swim and resort wear, while Swim & Sweat is a New Jersey-based boutique online retailer of women’s apparel. ALPHAGILITY is acquiring select assets from Always For Me and all assets of Swim & Sweat, it said.

“We have been looking at several different companies and segments as potential acquisitions,” ALPHAGILITY CEO Charles Mertz said in a prepared statement. “Ultimately, we decided on Always For Me and Swim & Sweat, as they both built dependable, dynamic brands in two categories we are eager to pursue.”

ALPHAGILITY is an e-commerce marketing company specializing in fashion and lifestyle products and running the SWIMSTYLE web store. Financial terms of the acquisitions were not disclosed.

Lakeland Bancorp Inc./Highlands Bancorp Inc.

Oak Ridge-based Lakeland Bancorp Inc., parent of Lakeland Bank, has formally closed on its $57 million merger takeover of Highlands Bancorp Inc., parent of Highlands State Bank, it announced.

Under terms of the deal, Vernon-based Highlands has merged with and into Lakeland. The deal gives Lakeland $6.3 billion in total assets, 53 branch offices in eight New Jersey counties and a branch in New York state, as well as six regional commercial lending centers in New Jersey and one in New York and two commercial loan production offices in New Jersey.

Tabula Rasa HealthCare Inc.

Tabula Rasa HealthCare Inc., a health care technology company based in Moorestown, has completed its acquisition of DoseMe, an Australian dosing software firm, it said Monday.

Charles Cornish, CEO of DoseMe — developer of the DoseMeRx precision dosing tool — will remain in charge of the unit, relocating to Moorestown. Robert McLeay, the company’s founder, will remain on board as chief scientific officer, based in Australia.

“What a terrific way to start 2019,” Tabula Rasa Chairman and CEO Calvin H. Knowlton said in a prepared statement. “Not only is TRHC combining DoseMe’s state-of-the-art decision support tool with our ability to predict and prevent harmful drug interactions through tools such as the MRM Matrix, which we are now able to offer hospitals, we have added two exceptional executives to our ranks.”

ROI-NJ Staff | editorial@roi-nj.com | @ROINJNews