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Corporate Report: April 20


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  • | 10:42 p.m. April 19, 2012
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Texas' Mattress Firm
buying Mattress Giant stores

Mattress Firm Inc., an indirect subsidiary of Houston-based Mattress Firm Holding Corp., agreed to buy all the remaining shares of Mattress Giant for roughly $47 million in cash minus working capital and other unspecified adjustments.

Mattress Firm, which purchased 55 Mattress Giant stores last year, is set to acquired another 180 stores in Texas and Florida, including a large number along the Gulf Coast.

The company agreed to acquire MGHC Holding Corp. from FS Equity Partners V L.P., FS Affiliates V L.P., Carlyle Mezzanine Partners, L.P., BlackRock Kelso Capital Corp., AEA Mezzanine (Unleveraged) Fund LP, AEA Mezzanine Fund LP, AEA Mezzanine Funding LLC, AEA Mezzanine Funding B LLC, Michael Glazer, Elaine Crowley and Dan Younkman.

The sale is currently scheduled to close sometime during Mattress Firm Holding's second fiscal quarter, which ends July 31.

TECO Peoples Gas, Marianna utility creating
gas pipeline to Nassau

Florida Public Utilities Co. of Marianna and Tampa-based TECO Peoples Gas have partnered to bring natural gas service to Nassau County and Amelia Island for the first time.

The companies will install a 33-mile natural gas pipeline that connects the Peoples Gas Jacksonville system with RockTenn's containerboard-manufacturing mill in Fernandina Beach. Florida Public Utilities also will install a gas-distribution system to serve the rest of the community.

The Florida Public Service Commission has already approved the project.

“We are proud to work with Florida Public Utilities to bring natural gas to this community for the first time,” Bruce Narzissenfeld, vice president of business development for Peoples Gas says in a press release. “By using environmentally friendly natural gas, residents and businesses can save energy and money - and significantly reduce their carbon footprint.”
Construction in some areas has already begun. The line is expected to be in service in November.

Florida Public Utilities is a wholly owned subsidiary of Chesapeake Utilities Corp., a diversified utility company.

UK manufacturer IRISS
consolidating in Manatee County

IRISS, a United Kingdom-based manufacturer of infrared windows, plans to consolidate its U.K. manufacturing operation and U.S. headquarters in Manatee County. IRISS plans to add 20 positions over three years at the facility in Lakewood Ranch Commerce Center beginning in 2013.

IRISS currently operates three headquarters facilities around the world: IRISS Ltd. EMEA Headquarters in Chelmsford Essex in the United Kingdom, IRISS-Asia Pty Ltd. APAC Headquarters in Australia, and the U.S. headquarters in Bradenton, where IRISS has eight employees. The new, $5.7 million headquarters in Manatee County will be 33,000 square feet and include manufacturing and support operations. The company expects to invest $1.2 million in equipment and will provide a training center for clients who will visit to learn about infrared inspection and earn industry certification. The project is scheduled for completion in mid-2013.

Fred M. Starling Inc. is the contractor and Fleischman Garcia is the architect for the headquarters building.

The Manatee Board of County Commissioners recently approved $12,000 in performance-based incentives, and the state of Florida also committed $48,000 to accelerate the company's hiring and capital investment. In addition, IRISS qualified for expedited permitting and approximately $6,393 in transportation impact fee mitigation from Manatee County Government.

“Our phenomenal growth of 69% year over year is driving the decision to co-locate our manufacturing and global headquarters in Manatee County,” said Martin Robinson, IRISS chief executive officer. “We were particularly attracted by the airports and road network, plus the area's appeal for our clients from northern states who will attend our learning center classes and conferences.”

Hillsborough County spending $1 million during RNC on marketing, promotion
The Hillsborough County Board of County Commissioners approved using $1 million in Tourist Development Tax funds to market and promote Hillsborough County during the 2012 Republican National Convention. The Tourist Development Council for Hillsborough County recommended the spending.

The additional funds will be used by Tampa Bay & Co. to implement a marketing campaign, strategic public relations and media campaign promoting the area.

“The promotional and marketing opportunities surrounding the Republican National Convention are unlike any other convention we've ever hosted,” Chairman of the Hillsborough County Board of County Commissioners Ken Hagan says in a press release.

Eva-Dry selling products at BJ's Wholesale Clubs
Tampa-based dehumidifier company Eva-Dry reached an undisclosed agreement for BJ's Wholesale Club to sell its line of compact dehumidification products at the wholesale club's 195 stores in 15 states.

Sarasota Memorial System cardiac division affiliating with Columbia University
Sarasota Memorial Health Care System and Columbia University Medical Center's Division of Cardiac Surgery have agreed on a new partnership.

“This collaboration brings together the best of both worlds — one of the nation's top academic medical centers and one of the nation's best community hospitals,” said Ricardo Yaryura, M.D., medical director of Sarasota Memorial's cardiology services. “Sarasota Memorial has exceptionally trained and experienced cardiologists and cardiac surgeons. The collaborative training opportunities will allow us to further build our program and accelerate Sarasota Memorial's ability to pioneer new technology and provide local patients and physicians with the latest innovations and treatment options in cardiac care.”

As part of the affiliation, SMH personnel will gain 24/7 access to Columbia's cardiac surgery faculty and researchers for case consultations. The agreement also calls for the health systems to receive accelerated access to new cardiac devices and therapies and participate in new research initiatives and clinical trials.

In addition, patients who require procedures not routinely performed at Sarasota Memorial can also expect coordinated access to Columbia Medical Center in New York City.

Tampa makes Top 25
of Energy Star buildings

The city of Tampa was listed as one of 25 cities with the greatest number of energy-efficient buildings that earned the Environmental Protection Agency's (EPA) Energy Star certification in 2011.

The Energy Star label recognizes buildings primarily based on low energy usage and greenhouse gas emissions. Commercial buildings that earn EPA's Energy Star must perform in the top 25% of similar buildings nationwide and must be independently verified by a licensed professional engineer or a registered architect. Energy Star certified buildings use an average of 35% less energy and are responsible for 35% less carbon dioxide emissions than typical buildings. Fifteen types of commercial buildings can earn the Energy Star, including office buildings, K-12 schools, and retail stores.

Energy Star says the Tampa market contains more than 14 million square feet of Energy Star-rated space, which equates to a savings of nearly $15 million annually in energy costs and prevents greenhouse gas emissions equal to the emissions of 2,200 homes a year.

Los Angeles has remained the top Energy Star-rated city since 2008, while Washington, D.C., continues to hold onto second place for the third year in a row. Atlanta moved up from the number six spot in 2010 to third place this year and Boston and Riverside broke into the top 10. Tampa, Colorado Springs, Colo. and Salt Lake City all are new to the list in 2011. California has six cities on the 2011 list—more than any other state.

 

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