Corporate Report

Corporate Report

Non-Beall named CEO of Bradenton retailer

Robert Beall II is yielding the top operational position in Bradenton-based retailer Bealls Inc. to the company's president Stephen Knopik. Beall, grandson of Bealls founder Robert M. Beall Sr., will stay on as chairman for the company, focusing on more top-level strategic decisions. Dick Judd, Bealls chief operating officer, will assume many of Knopik's responsibilities as president. Knopik has been president of the firm for eight years. He joined the company about 22 years ago as chief financial officer.

The company, which operates its signature Bealls Department and Bealls Outlet stores nationwide, is Manatee County's largest private employer with about 2,100 jobs, according to the Manatee Chamber of Commerce Economic Development Council.

Texas public company buys Fireline Restoration

Dallas-based Home Solutions of America Inc., a public company that offers recovery, restoration and remodeling, bought the 10-year-old Tampa-based Fireline Restoration Inc., a provider of recovery and restoration services with operations in Florida, Louisiana and Mississippi. Fireline reported revenue for the first six months of 2006 of about $21 million and earnings before interest, taxes, depreciation and amortization of $5 million. The transaction was expected to close by Friday, Aug. 4.

Home Solutions of America says it will pay $11.5 million in cash to the Fireline owner, along with an unsecured promissory note in the principal amount of $21.65 million and 4 million shares of Home Solutions' restricted common stock. Brian Marshall, president of Fireline, will become a member of Home Solutions board of directors.

Fireline provides catastrophic storm response, water mitigation, drying, mold remediation, water, fire and wind restoration and contents restoration for commercial and residential properties.

Regus Group opens in Courthouse Centre

The Regus Group PLC, a Dallas-based outsourced workplaces firm, opened its first business center in Sarasota. The new location in Courthouse Centre brings Regus' office network in the state of Florida to 28 centers with 17 locations throughout southern Florida.

The business center, located on the 7th floor at 1990 Main Street in downtown Sarasota, will occupy more than 20,000 square feet and feature 73 offices, 146 workstations and three conference rooms. The company has three offices in Tampa at the Hidden River Center, Rocky Point Center and Westshore International Plaza Center.

Beasley Broadcast Group buys Las Vegas' KDWN-AM

Naples-based radio broadcaster Beasley Broadcast Group Inc. completed its purchase of Radio Nevada Corp.'s KDWN-AM station in Las Vegas for about $17 million. In addition, the company purchased 27 acres, which houses KDWN's broadcast tower, in Henderson, Nev., from Radio Nevada Corp. for $5 million. George Beasley, chairman and chief executive officer of Beasley Broadcast Group, says the property has the big advantage of being the only station in Las Vegas that boasts a 50,000-kilowatt signal.

In addition to KDWN in the Las Vegas market, the Beasley Broadcast Group currently owns 104.3 The Coyote KYCE-FM, Classic Rock 96.3 KKLZ-FM and Star 102.7 KSTJ-FM. Beasley Broadcast Group owns or operates 42 stations in 10 markets.

Cay Clubs Resorts purchases Phoenix Law Partners

Fort Myers-based Cay Clubs Resorts & Marinas created new title and mortgage companies and expanded its in-house legal operations with the acquisition of Fort Myers-based Phoenix Law Partners. Charles Phoenix has been named general counsel for Cay Clubs and will head the company's newly-formed Office of the General Counsel. Cristal Clear Title Agency LLC was created to handle title and closing services for Cay Clubs clients and clients of other real estate organizations. In addition, Cristal Clear Mortgage LLC was formed to process mortgages for Cay Clubs and other firms.

As part of his new role as General Counsel, Phoenix will direct the operations of Cristal Clear Title Agency. Current Cay Clubs in-house attorneys Douglas Wolk of Marathon and William Lee in Clearwater, will become part of the Office of the General Counsel. Lee was named president of Cay Clubs' new Cristal ClearKeys Mortgage, LLC, and will manage the company.

Chamber leader wins statewide award

The Florida Association of Chamber Professionals recognized Sarasota Chamber President/CEO Steve Queior with its "Chamber Professional of the Year" award. The award recognizes chamber officials who are successful in developing innovative programs, growing membership and services and making important community contributions.

Queior was selected for the chamber's positions on housing affordability, school bond issues, health care for small businesses and membership growth, currently 2,400. Queior also led the chamber through a major restructuring, the launch of the Advanced Leadership Program and Chamber University; creation of the Frank G. Berlin Sr. Small Business Resource Center; start of a Downtown After 5 festival; and for passing several fundraising hurdles including increasing the number of trustee members from 94 to more than 190 and doubling members in the Chamber Partners Group.

Health Management sells psychiatric hospitals

Naples-based Health Management Associates Inc. signed an agreement to sell its two remaining stand-alone psychiatric hospitals and a closed facility in Lakeland to Franklin, Tenn.-based Psychiatric Solutions Inc. The two open properties include the 80-bed SandyPines in Tequesta and the 104-bed University Behavioral Center in Orlando. The transaction is schedule for completion on or before October 1. Under the agreement, Psychiatric Solutions agreed to offer employment to all current employees in good standing at the two hospitals.

Upon completion of the Psychiatric Solutions transaction, and a separate pending deal to sell the 125-bed Southwest Regional Medical Center, the 103-bed Summit Medical Center and the 76-bed Williamson Memorial Hospital, HMA will operate 57 hospitals in 14 states with about 8,329 licensed beds.

Tampa company unveils real estate forecasting site

Tampa-based Thespillzone.com, substantially funded by Monarch Group LLC, launched its forecasting real estate site, offering predictions for the next 36 months on more than 60 million individual properties. The Web site includes most homes and investment rental dwellings across the United States. Users are asked to enter the address and answer a few simple questions. The Web site is designed to make money based on advertising and along with increased sales of "The Spill Zone" a book written by the site's president, Ed Ross.

First Advantage Corp. buys Single Source Services

St. Petersburg-based First Advantage Corp., a risk-mitigation and business solutions provider, acquired Single Source Services Inc., a regional employment-screening firm based in Birmingham, Ala. This purchase further was designed to expand First Advantage's growing employment screening market share and establishes an Alabama regional presence. Founded in 1992 by Harold Doss, Single Source Services catered its screening services to small and mid-sized Alabama employers. Doss is talking a position in First Advantage's sales department.

SWFI ranked in top 10 among small airports

In the 2006 Global Airport Satisfaction Study, conducted by J.D. Power & Associates, consumers ranked Fort Myers' Southwest Florida International Airport among the top 10 of 60 smaller-sized commercial airports (those serving less than 10 million passengers). Consumers were asked to rank airports on accessibility, check-in/baggage check, security check, terminal facilities, food and beverage, retail services, baggage claim and immigration/customs control. The airport served more than 7.5 million passengers during 2005 and ranks among the 50 busiest airports in the nation.

Radiation Therapy Services acquires Bel Air center

Fort Myers-based Radiation Therapy Services Inc., an operator of radiation therapy centers, purchased a radiation therapy treatment center in Bel Air, Md., for about $6.6 million. The facility currently offers an Intensity Modulated Radiation Therapy (IMRT) program and can be upgraded to include Image Guided Radiation Therapy. Radiation Therapy Services plans to combine the newly acquired practice with its existing practice in Belcamp, Md., which does not have an IMRT program. The combined facility will treat more than 30 patients per day and utilize the Radiation Therapy Services' current physicians. The combination of the two practices is scheduled for completion by the end of 2006. Radiation Therapy Services expects to make about $4 million annually from the center.

Radiation Therapy Services, which operates radiation treatment centers primarily under the name 21st Century Oncology, runs 70 treatment centers in 23 markets in 14 states.

Verizon opens FiOS to more areas of Pasco

Verizon expanded the availability of its FiOS TV and on-demand programming service to more than 34,000 households in Pasco County, via the company's fiber-optic network. The company is now taking service orders from 10,000 households in Land o' Lakes, about 3,000 households in Lutz, and more than 2,400 homes in Keystone. Earlier this year, Verizon rolled out FiOS TV to 19,000 households in the Wesley Chapel area. Verizon expects to expand FiOS TV to more households in Pasco County in the coming months.

The company now has video franchises covering approximately 3 million households in nine states and more than 100 franchise areas.

Tollgrade reduces costs, closes Sarasota office

Cheswick, Pa.-based Tollgrade Communications Inc. closed its Sarasota and Texas offices to save the company $3.3 million annually. The closing affects 23 employees in Sarasota, whose jobs are being consolidated into the company headquarters.

The company, which provides telecommunications software and hardware, recently reported a revenue loss of one cent per share or $16.3 million, compared with $17.1 million or eight cents per share for the same period in 2005.

Etc...

• Largo-based restaurant chain Ker's WingHouse Bar & Grill opened its 17th Florida location. The WingHouse has launched a new restaurant at 4515 S. Florida Ave., Lakeland.

• Intelligent Spirit Technologies Inc., a Sarasota-based IT professional services specializing in business intelligence, merged with SouthTech Solutions Inc. SouthTech will immediately add ISTI's services to its current offerings.

• Fred Coelho, president of Clearwater-based Ezell Precision Tool Co. a manufacturer of custom tooling, die- and mold-ready components, has created Regal Components Inc. to supply standard mold and die components. Regal Components' first project will be a line of U.S. Standard Inch Ejector Blades.

• Sarasota-based Stephen A. Smith & Associates Advertising has moved its headquarters to 1748 Independence Blvd., Suite F-6, Sarasota, in the Northgate Business Park. The firm previously maintained offices in downtown Sarasota since 2000. The full-service advertising agency's phone number has changed as well, to 941-355-7900.