PREP Partners Work to Grow Business & Create Jobs

Darryl Hoffman, a former longtime employee of R&T Mechanical North Division in Lawrenceville, was interested in purchasing the R&T/North Division and merging it with Hoffman Mechanical, Inc., a start-up he had been operating for one year. Darryl contacted the University of Scranton SBDC after a joint referral from the Tioga County Development Corporation (TCDC) and NTRPDC. He worked with the SBDC on a business plan, pre-venture start-up/acquisition planning, and a management plan. After completing Hoff Mechanical’s business plan, Darryl was able to focus on obtaining financing for the company.

In February 2013, TCDC, the Northeast Pennsylvania Industrial Resource Center (NEPIRC), and NTRPDC partnered to assemble the final $500,000 needed on a $2 million finance package enabling Hoff Mechanical to purchase R & T Mechanical. The purchase enabled Hoffman to create an additional 19 jobs.