Briefcase

Business news of local interest

JOHNSTOWN

JARI sets Lunch n Learn

JARI will hold Lunch n Learn from noon to 1:15 p.m. May 22 at JARI Center, 160 Jari Drive.

Lynn Rovan of Barnes Saly & Co., will present QuickBooks Online. Attendees will receive a general overview of QuickBooks while learning to select company and user preferences and the setup of chart of accounts. Attendees will also learn about invoicing and payments, billing and paying bills, bank reconciliation and reporting.

The cost to register is $5 per person, and lunch will be provided. To register, visit www.jari.com and click on the calendar to access the registration form or contact Lauren Brewer at lbrewer@jari.com.

NEW ENTERPRISE

NES&L acquires assets

New Enterprise Stone & Lime Co. Inc. has acquired certain assets of Popple Construction Inc. and Pioneer Aggregates Inc. (Laflin Acquisition) consisting primarily of one aggregate plant, one hot mix asphalt plant and a paving laydown business.

The acquired facilities are situated between NES&L’s existing Clifford and Allentown locations, allowing the company to expand its operating footprint and market scope into the Wilkes-Barre /Scranton market.

The purchase price for the Laflin Acquisition was about $22.3 million, net of a working capital adjustment, which was funded using existing cash and senior secured credit facilities.

Meanwhile, the company and its wholly-owned subsidiary, Work Area Protection Corp., and its associated affiliates entered into an asset purchase agreement with Hill & Smith Holdings PLC to sell substantially all of the assets of the WAPCO business.

This sale constituted the remaining component of the company’s traffic safety services and equipment business, effectively exiting the company from this business segment. The cash purchase price for the WAPCO assets was $42 million.

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