Impact Services, a Kensington nonprofit, has ended talks to be acquired by Inperium Inc.
Impact Services did not say why it decided to remain independent.
The board of Impact Services Corp., a Kensington nonprofit community development organization, has ended negotiations on an acquisition by fast-growing human services nonprofit Inperium Inc., Impact’s CEO Casey O’Donnell said Wednesday in an email.
Impact had signed a preliminary agreement in August and was expected to become part of Inperium by June, according to a municipal bond statement Inperium published Dec. 12.
“Impact was considering affiliation and was in a due diligence process, however an affiliation agreement was never reached. The Impact board of directors and executive leadership decided to terminate the process and remain independent,” O’Donnell said.
O’Donnell did not respond to questions about when and why Impact decided to end talks with Inperium.
An Inperium spokesperson said the organization had no comment.
Impact was founded in 1974 and operates housing, jobs, and economic development programs in Kensington and Harrowgate. Impact’s board includes Philadelphia City Councilmember Mark Squilla, according to the organization’s website.
Inperium is a Reading human services nonprofit founded in 2016. It has grown rapidly nationwide through acquisitions. Last month, it completed its acquisition of Philadelphia health and human services nonprofit Resources for Human Development.