Corporate Report

Corporate Report

Gulf Coast homebuilders and

contractors recognized nationally

Some Gulf Coast homebuilders and contractors are getting national attention in trade magazines' 'top 100' listings.

Builder's magazine ranked a trio of Gulf Coast based-homebuilders in its May Builder 100 list, which ranked the builders by closings: Taylor Woodrow, a U.K. company with U.S. headquarters in Bradenton, moved from 25th to 23rd, with 3,932 closings in 2005, an 8% increase.

With 2,909 closings in 2005, a 33% increase, Bonita Springs-based WCI moved from 39th to 33rd on the list. Tampa-based Jim Walter Homes dropped to 39th from 27th, with 2,361 closings in 2005, a 27% decrease.

Also, Naples-based general contractor and construction management firm Kraft Construction Co. Inc. was ranked 93rd by Engineering News-Record in the publication's list of the top 400 contractors, based on revenue. Kraft was ranked 113th last year. Kraft had revenues of $481.2 million in 2005. Sarasota-based W.G. Mills was ranked 337th and Tampa-based ACI Construction Services was ranked 396th.

Ideal Image secures

$16 million in financing

Ideal Image Development Inc., a Tampa-based laser hair removal service company, secured $16 million in equity and debt financing.

The financing was provided by H.I.G. Capital, a private equity and venture capital firm with investments focused on high growth technology, health care, manufacturing and service companies. Craig Burson and Brian Schwartz of H.I.G. Capital will join Ideal Image's board of directors. ORIX Venture Finance LLC provided the venture debt financing.

Ideal Image has 60 clinics open or in the process of opening and is targeting 100 locations by year's end.

Health Management closes deal

on medical center in Mississippi

Naples-based Health Management Associates Inc. acquired the 189-bed Gulf Coast Medical Center in Biloxi, Miss., from a subsidiary of Tenet Healthcare Corp. The transaction was effective June 1 and the purchase price was not released.

HMA owns and operates general acute care hospitals in non-urban communities throughout the United States and operates 62 hospitals in 16 states with approximately 8,817 licensed beds.

IBHS's 'Fortified' program

starts with community in Eustis

Construction is underway on the first "Fortified ... for safer living" community in Central Florida. Mount Dora-based Charlie Johnson Builder Inc. is building a 60-house neighborhood with a disaster-resistant designation in Eustis, between Ocala and Orlando.

"Fortified ... for safer living" is the new-home construction designation program of the Institute for Business & Home Safety, a Tampa-based national nonprofit disaster safety organization.

The program specifies criteria that will increase a home's overall resistance to natural hazards based on its location. In Eustis, like much of Florida, those threats are high wind, wildfire and flooding. There are now about 2,500 "Fortified" homes completed, under construction or planned in 10 states.

Chico's FAS sees

record sales in May

Fort Myers-based Chico's FAS Inc. reported record sales for the four-week period ended May 27. Sales increased 20.4% to $141.1 million from $117.1 million in the same period last year.

For the first 17 weeks of 2006, Chico sales increased 20% to $533 million from $444 million for the same period a year ago.

OneSimpleLoan adds jobs to

Pinellas County headquarters

OneSimpleLoan, a nationwide student loan solutions company, plans to expand its corporate headquarters in Oldsmar, adding 52 jobs and retaining more than 30 existing positions. OSL's decision to remain and expand in Pinellas County was made in part because of Florida's Qualified Target Industry incentive, a tax refund program through Florida, Pinellas County and local municipalities.

Coconut Point gets

two more businesses

Simon Property Group Inc. announced that California Pizza Kitchen and The Grape will open at the new Coconut Point development, a mixed-use, main street regional shopping center project in Estero.

Coconut Point will contain approximately 1.2 million square feet of retail space. The Market area of Coconut Point began opening stores in April. The remainder of the project is scheduled to open in November.

The two new food places join Ruth's Chris, Ted's Montana Grill and Ernest Hemingway's Island Grill.

Horizon Holding gets

new name, ticker symbol

Horizon Holding Corp., a Sarasota-based security software firm, is changing its name to Inverted Paradigms Corp. Along with the name change, the public company's stock symbol will also change to IVPC.

Inverted Paradigms Corp. developed Silent Sword software, a proprietary security process that prevents malware (viruses, Trojans, worms, and spyware).

French manufacturer

opens U.S. operations

Jean Niel, the oldest French manufacturer of perfumes and flavors, will open its first manufacturing facility in North America in the Tampa Bay area. The 6,000-square-foot facility will open in June in the West Pasco Industrial Park in Odessa.

McGarvey Development

relocates to Fort Myers  

McGarvey Development relocated its headquarters from Bonita Springs to Fort Myers. The company's new office is located at 9530 Marketplace Road in the Renaissance Center, which is a three-story 65,000-square-foot, Class A office building.

Insurance provider to lower

premiums for Florida small businesses

AvMed Health Plans will lower its premiums for Florida businesses with 50 or fewer workers by a statewide average of 8%. This applies to all major metropolitan areas served by AvMed, including Tampa, Jacksonville, Orlando, Miami, Fort Lauderdale and Gainesville.

AvMed, based in both Jacksonville and Miami, will also broaden its health coverage choices and introduce automated capabilities to allow independent insurance agents to more easily quote and enroll small businesses.

Allstate, minority customers

reach settlement in Texas

Attorneys at Tampa-based James, Hoyer, Newcomer & Smiljanich PA that represent Allstate minority customers announced a nationwide settlement regarding allegations of racial discrimination in insurance pricing that was preliminarily approved by a federal judge in Texas.

The lawsuit, filed in 2001 in U.S. District Court, Western District of Texas, San Antonio division, was brought by seven Allstate customers seeking to represent a nationwide class of African-American and Hispanic individuals who were issued automobile and/or homeowners' insurance policies by Allstate-affiliated companies. The plaintiffs allege they were discriminated against in violation of federal civil rights laws, including the Fair Housing Act, by being charged higher premiums based on Allstate's use of credit scoring.

Lee Roy Selmon's moves into Bradenton

Lee Roy Selmon's is opening its first BBQ sports restaurant in the Bradenton area at 6510 Cortez Road, about one mile west of White Water Tower, on June 13. Lee Roy Selmon, an NFL Hall of Famer and former Tampa Bay Buccaneer, first opened a restaurant in Tampa's Westshore area in the fall of 2000.

Lee Roy Selmon's is a partnership of OSI Restaurant Partners Inc., which operates Outback Steakhouse, Carrabba's Italian Grill, Roy's, Fleming's Prime Steakhouse & Wine Bar, Bonefish Grill and Cheeseburger in Paradise.

ETC...

? Rankin Mortgage launched a new Web site at www.rankinmortgage.com.