Maine Business in May 2026: WEX's boardroom battle, housing pushes and deal-making

Maine businesses had a busy May, from WEX's boardroom shake-up to new housing, hotel and manufacturing projects breaking ground. Local banks, insurers and nonprofits also announced mergers and leadership changes.

Deals & Acquisitions

WEX agreed to remove its CEO from the board chair role after bowing to hedge fund demands, Mainebiz reported. (Mainebiz)
WEX named a new chair of its reshuffled board after the hedge fund won seats, Mainebiz reported. (Mainebiz)
A Wilton power sports company bought a longtime shop in Aroostook County, Bangor Daily News reported. (Bangor Daily News)
Sargent sold its Hermon asphalt plant to a Massachusetts contractor, Mainebiz reported. (Mainebiz)
A Boothbay Harbor insurance agency acquired its Damariscotta peer, Mainebiz reported. (Mainebiz)
The buyer of a high-visibility Ellsworth retail center plans upgrades to the property, Mainebiz reported. (Mainebiz)
A $33.8 million Portland deal topped the office building category as the largest to date, Mainebiz reported. (Mainebiz)
A Lewiston mental health services provider merged with Sweetser, Mainebiz reported. (Mainebiz)

Real Estate & Development

The first phase of the Lockwood Mills redevelopment was completed, Mainebiz reported. (Mainebiz)
A Midcoast auto dealer plans to spend up to $20 million to move to Thomaston, Bangor Daily News reported. (Bangor Daily News)
A $15 million, 51-unit housing project broke ground in Freeport, Mainebiz reported. (Mainebiz)
A Midcoast sports complex that had been envisioned for years is now under construction, Mainebiz reported. (Mainebiz)
Avesta proposed an affordable apartment building in Portland, Mainebiz reported. (Mainebiz)
A new hotel is taking shape on Portland's Monument Square, Mainebiz reported. (Mainebiz)
PM Construction completed 75 affordable apartments in Biddeford, Mainebiz reported. (Mainebiz)
Housing for Bath Iron Works shipbuilders and Navy workers is slated for completion in 2027, Mainebiz reported. (Mainebiz)

Openings, Expansions & Closures

Aflac opened a South Portland office to handle paid leave claims, Mainebiz reported. (Mainebiz)
Hancock Lumber will open a new factory in Oxford to manufacture building components, Sun Journal reported. (Sun Journal)
A Westbrook kitchen countertop supplier opened an expanded showroom, Mainebiz reported. (Mainebiz)
A Thomaston boatbuilder plans to expand with a 15,000-square-foot composites facility, Mainebiz reported. (Mainebiz)
A Portland recycling company embarked on a $36 million expansion, Mainebiz reported. (Mainebiz)
Maine's Landing School of Boatbuilding & Design closed its doors, Mainebiz reported. (Mainebiz)
A downtown Biddeford restaurant and bar will close after three decades in business, Mainebiz reported. (Mainebiz)

Jobs, Leadership & Workforce

Cumberland County Federal Credit Union promoted its CFO to the top executive post, Mainebiz reported. (Mainebiz)
Employees at a Portland gallery voted to unionize, Mainebiz reported. (Mainebiz)
A Maine Community Bank insider was named to lead its commercial banking division, Mainebiz reported. (Mainebiz)
Houlton nurses went on strike over staffing while the hospital says assignments meet benchmarks, Mainebiz reported. (Mainebiz)
A leadership transition is on tap for Portland developer J.B. Brown & Sons, Mainebiz reported. (Mainebiz)
The University of Maine System chancellor's contract was extended to 2028, Mainebiz reported. (Mainebiz)
An Arundel apprentice program aims to tackle a machinist shortage, Mainebiz reported. (Mainebiz)

Energy, Industry & Environment

Three million dollars will fund research on 'forever chemicals' at Maine farms, Mainebiz reported. (Mainebiz)
A utility company found a Kennebec County location to run its northern operations, Mainebiz reported. (Mainebiz)
A Central Maine Power station in Westbrook is expected to reduce outages during storms, Mainebiz reported. (Mainebiz)
Maine's data center council held its first meeting, Mainebiz reported. (Mainebiz)
Westbrook will seek a temporary ban on data centers, Mainebiz reported. (Mainebiz)
Maine is looking to Japan for ideas to strengthen its sea urchin industry, Mainebiz reported. (Mainebiz)

Economy, Startups & Government

Maine business groups set goals for the state's economy in 2035, Mainebiz reported. (Mainebiz)
A Maine real estate data platform raised $4.5 million to fund growth, Mainebiz reported. (Mainebiz)
Maine Community Bank boosted the prize money for its LaunchPad contest, Mainebiz reported. (Mainebiz)
Maine Angels backed Coastal Measures with $260,000, anchoring the ocean data startup in Maine, Business Wire reported. (Business Wire)
A nutrition startup aims to shake things up for women in menopause, Mainebiz reported. (Mainebiz)
Lewiston officials disagreed over a vote that cut the economic development director role, Lewiston Sun Journal reported. (Lewiston Sun Journal )
A Maine survey found health care is now a 'top issue' for the business community, Mainebiz reported. (Mainebiz)