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Staff report
YOUNGSTOWN – Controlling interest in the Youngstown Publishing Company, which publishes The Business Journal, has been acquired by Warren-based investment group Sapientia Ventures.
Former majority owner Andrea Wood, who co-founded the company in 1984, will stay on as president and publisher. Michael Moliterno, chief operating officer, remains a minority shareholder. Other staff of the publication will also remain in place.
Terms of the deal were not disclosed Tuesday, but the transaction has finalized. The Business Journal publishes in print twice per month and daily online.
Sapientia Ventures was co-founded by Canfield businessman Chuck George, CEO of Hapco Inc., Strangpresse and Triptech, Wiley Runnestrand of Bazetta and Michael Martof of Kent.
The company, named after a Latin word that means wisdom, represents a group of closely held private investments in active companies and real estate. It invests in companies and real estate primarily in the Mahoning Valley, but has operations across North America.
In February, the company announced plans for Warren West Industrial Park, a large-scale multimillion development suitable for mid-sized modern manufacturing, warehouse / distribution and research and development at the former Westlawn neighborhood on Warren’s west side.
Ground is expected to be broken on the first speculative building in the park soon. The initial investment is more than $10 million.
Also connected to Sapientia Ventures is GreenBoard IT, an electronics recycling company the three founded and operate from a warehouse formerly owned by Berk Enterprises on East Market Street, Warren.
business@tribtoday.com