N.J. Devils Hockey Team Sold
The New Jersey Devils hockey franchise in Newark announced Aug. 15 it has been sold for about $320 million to Josh Harris, of investment firm Apollo Global Management, and David Blitzer, of private equity firm Blackstone Group, both in New York City. Former majority owner Jeff Vanderbeek, of Warren, will maintain a minority interest in the team. Vanderbeek was represented by Richard Birns of New York City's Boies, Schiller & Flexner; Harris and Blitzer by Andrew Nussbaum of Wachtell, Lipton, Rosen & Katz; and the National Hockey League by Thomas Gowan of Skadden, Arps, Slate, Meagher & Flom. All the lawyers are in New York City.
Rumson Bank Bought for $24.3M
Bank holding company 1st Constitution Bancorp in Cranbury on Aug. 15 announced its acquisition of Rumson-Fair Haven Bank & Trust, a commercial bank in Rumson, for about $24 million in cash and stocks.
Portamedic Sold for $8.4M
Hooper Holmes Inc. in Basking Ridge announced on Aug. 15 its Portamedic line of traveling medical-exam providers has been bought by American Para Professional Systems in Jericho, N.Y., for about $8.4 million in cash. Both provide paramedical services for insurers.
PeopleString Acquires Vape
PeopleString in Red Bank, a social networking marketing company, announced on Aug. 15 it acquired computer programmer Vape Holdings, of Woodland Hills, Calif., in a $2.53 million stock swap.