A Bucks County company has recently made their home in the area by finalizing the purchase of a well-known business building. Paul Schwedelson wrote about the transaction for the Philadelphia Business Journal.
TESCO, an electronics manufacturer based in Bucks County, recently acquired a large portion of the Grundy Commons, a major business complex in Bristol, for $13.4 million. With 115 employees, the acquisition was a necessity for owner Tom Lawton, who saw this as the perfect opportunity to secure a permanent location for the company.
“We are certainly relieved. We mitigated one of the more serious risks that we faced as a company,” Lawton said. “If our building became unviable for us to live and work in, it could have killed the company.”
The manufacturing company has been a tenet of the complex since 1987. Now owning two-thirds of the building, the company will continue to work out of the Bucks County area, remaining a major contributor to the local economy.
Read more about the major purchase in the Philadelphia Business Journal.