Sale of Sunetric to Colorado firm closes
The acquisition of Kailua-based Sunetric by RGS Energy has been completed.
Publicly traded RGS, based in Colorado, announced in March its intention to buy Sunetric parent company Elemental Energy LLC.
Since the announcement, the deal was restructured to an all-stock transaction in which RGS will issue about 4.5 million shares to the sellers subject to certain conditions, along with an additional $3 million in potential payments. The deal originally called for payment of $7 million cash and $9 million in stock.
Sunetric will keep its local management team, its 90 employees and its established brand, according to a statement.
New sub shop opening in Wahiawa
A franchised Aloha Sub Deli & Sandwich Shoppe will mark its grand opening from 6 p.m. to 9 p.m. Friday in Wahiawa.
The shop is at 55 Kamehameha Highway, between California Avenue and Olive Street in the Surfing the Nation building.
Free subs and soft drinks will be served and the first 50 people will receive a grand opening T-shirt for free, according to a company statement, which added that a third location, in an undisclosed spot, is slated to open in June.
The original Aloha Sub is at 1602 Kalakaua Ave. in Waikiki and is owned by former Honolulu radio personality Jamie DeMatoff.
Caldwell honors old Japanese tradition
Mayor Kirk Caldwell has signed a proclamation honoring the second annual Honolulu Ekiden and Music Festival, a 26.2-mile race, concert and cultural event scheduled for June 1.
Teams of two to six members participate in the morning race, daytime food and cultural event, and evening concert featuring popular artists from Japan and Hawaii.
The relay race course begins and ends at Kapiolani Park and is part of the daylong event designed to promote tourism to the islands and foster cultural understanding between Japan and Hawaii.
Ekiden is an ancient Japanese method of delivering messages over long distances.
Unlike in ancient times, local cheerleading squads will cheer on runners at various stations for Honolulu Ekiden.
Registration for this year’s race has been extended through May 31, with Roberts Hawaii funding registration costs for student teams, and Hawaiian Airlines providing the grand prize of a trip for two to Japan.
Registration information can be found online at www.hnlekiden.org.
Fees range from $90 for a two-person team to $210 for a six-member team.
ON THE MOVE
Bank of Hawaii has promoted:
>> Robert Gilfoy, compliance and finance officer, to vice president from assistant vice president in merchant services. He joined the bank in 1997 and has more than 27 years of retail banking experience.
>> Courtney Hirayasu, banking center manager, to vice president from assistant vice president at Kapolei Banking Center. She joined the bank in 2008 and earned her bachelor’s degree in business administration from the University of Puget Sound.
Honolulu HomeLoans has announced Justin Enos as one of its loan officers, specializing in residential mortgage loan origination. He previously worked at HomeStreet Bank.
King Windward Nissan has promoted Kaleookalani McCabe to internet sales manager. Prior to joining the company, McCabe was a property manager for nearly three years and still works in the real estate industry.
