Corporate Report

Corporate Report

by Sean Roth | Real Estate Editor

Hellman & Friedman

finalizes Catalina purchase

An affiliate of the private equity investment firm Hellman & Friedman has completed its acquisition of St. Petersburg-based Catalina Marketing Corp. The deal, valued at $1.7 billion, calls for Catalina shareholders to receive $32.50 per share in cash.

"We believe Catalina Marketing is in a great position to focus on future growth initiatives and strategic opportunities as a private company." Dick Buell, CEO of Catalina Marketing, said in a press release. "With the financial support of Hellman & Friedman, we are confident that we can accomplish the future plans we have set forth. H&F has extensive knowledge of the marketing and technology arena that will help us continue to build on our established, strong foundation and move the company into the next chapter of growth and development."

Catalina's stock will no longer trade on the New York Stock Exchange. Catalina has appointed Mellon Investor Services LLC as its paying agent, and plans to mail a letter with instructions to all shareholders of record.

Hellman & Friedman LLC focuses on investing in business franchises and serving as a value-added partner to management in select industries including media and marketing services, financial services, professional services, asset management, software and information services, and energy.

Catalina Marketing is a behavior-based marketing company.

Brown & Brown

acquires Long Island company

A subsidiary of Tampa- and Daytona Beach-based insurance firm Brown & Brown Inc. acquired Island Risk Management Associates Inc. Island Risk Management Associates, which reported annualized revenues of $4.3 million, is primarily focused on property and casualty, surety, and group benefits insurance on Long Island and throughout the New York City metropolitan area. Island Risk Management Associates will continue to operate from its current Long Island location as a freestanding Brown & Brown operation.

Gulfstream Natural Gas

wins pipeline expansion

Tampa's Gulfstream Natural Gas System LLC received a certificate from the Federal Energy Regulatory Commission to expand the company's pipeline system to provide natural gas service to Progress Energy's Bartow Power Plant in Pinellas County.

The expansion project, known as phase IV, is designed to increase Gulfstream's system capacity by 155,000 dekatherms a day. The expansion calls for Gulfstream Natural Gas System to construct 17.5 miles of 20-inch diameter pipeline that will connect the existing Gulfstream pipeline to the Bartow Power Plant. The project also will require the installation of additional compression in Coden, Ala., and Manatee County.

Gulfstream expects to start work on the phase IV expansion in January. The project will likely take a year to complete. At the same time, Progress Energy is converting its Bartow Power Plant to use natural gas. The changes are designed to more than double the facility's electrical output and reduce air emissions. Opened in May 2002, Gulfstream Natural Gas System is a 691-mile pipeline system with the capacity to deliver 1.1 billion cubic feet of natural gas to Florida.

World Energy Solutions

buys UTEK's hydrogen detector

St. Petersburg-based World Energy Solutions Inc. acquired Hydrogen Safe Technologies Inc., a wholly-owned subsidiary of Tampa's UTEK Corp., in a stock transaction.

Hydrogen Safe Technologies Inc. contains an exclusive, worldwide license to a hydrogen sensor technology developed by researchers at the University of South Florida. Originally funded by NASA, the specialized sensor uses nanowires and nanoparticles as its sensing element. Coating the devices with nanostructure materials should allow the device to detect hydrogen in near real time.

"World Energy Solutions is enthusiastic about this technology and its potential to help expand our proprietary position in the energy conservation field," Benjamin Croxton, CEO at World Energy Solutions, said in a press release.

World Energy Solution is an energy services company and electronics manufacturer primarily focused on the development of technologies for lowering electrical, gas and water usage.

CarBiz Inc. buys Calcars,

its 26 dealerships

Sarasota-based CarBiz Inc. acquired the assets of Calcars Inc., the fourth-largest chain of buy-here/pay-here auto dealerships in the country for $18.6 million in cash. Calcars' consolidated revenues for 2006 were more than $36 million, which would have increased CarBiz revenues by almost 10 times. Carbiz acquired 26 dealerships in seven states.

"I cannot overstate what this means for CarBiz," Carl Ritter, Carbiz CEO, said in a press release. "We made an eight-year growth leap virtually overnight. We had initiated an aggressive growth strategy in Florida with a goal of 15 stores by 2010, but when this opportunity presented itself, we moved quickly to complete a deal."

Prior to the acquisition, the CarBiz Auto Credit Division had three buy-here pay-here dealerships in Florida - all in the Tampa Bay region.

Three of the acquired stores will be closed. The remaining 23 dealerships are located in Illinois, Indiana, Iowa, Kentucky, Nebraska, Ohio and Oklahoma. CarBiz obtained a new $30 million financing deal in conjunction with the acquisition with SWC Services LLC and AGM LLC.

Ritter says 117 employees in the Calcars network were offered employment with CarBiz after the acquisition. CarBiz also will add 10 employees at its Sarasota headquarters.

The CarBiz acquisition, Ritter says, exemplifies a growing trend of consolidation in the $150-billion alternative financial services market, including Diamond Castle's acquisition of CheckSmart, and First Cash Financial Services' purchase of Auto Master BHPH.

CarBiz is a provider of software, training and consulting services to the U.S. auto industry. CarBiz also operates buy-here/pay-here dealerships in Florida through its CarBiz Auto Credit division.

Etc...

Unilens Vision signs deal

with Eschenbach Optik

Largo-based Unilens Vision Inc. named Eschenbach Optik the exclusive worldwide distributor of the UniVision Low Vision Lens. Ridgefield, Conn.-based Eschenbach Optik of America, Inc. will serve as the exclusive distributor for North and South America and Eschenbach Optik GmbH + Co will be the exclusive distributor in the rest of the world.

"The partnership will allow our UniVision product to be aggressively marketed throughout the world, offering eye-care professionals a truly unique specialty product to serve the expanding Low Vision market," Michael Pecora, president and CEO of Unilens Vision Inc., said in a press release.

The UniVision Low Vision Lens is a 22mm acrylic lens that can be adhered to the surface of any eyewear. The application process also allows the users to test the position of the lens on the eyewear before permanently adhering it.

Root made president

at Cape Coral bank

Community Bank of Cape Coral appointed J. Steven Root to the position of president and CEO. Root, a founding director of the bank, most recently served as acting president prior to his promotion. Chris Ferrer, the founder and former president of the bank, has taken a medical leave of absence, but will maintain his standing on the bank's board of directors. Root has 40 years of commercial banking experience and has held executive positions in large regional banks as well as community banks in Ohio, Indiana and Florida.

Community Bank of Cape Coral is part of Southwest Community Bancorp Inc., a local holding company that also includes First Community Bank and Sanibel Captiva Community Bank. Through its family of three local banks, the bank group has eight banking offices and consolidated assets of $500 million.

MIVA Direct Inc.

partners Netvibes

MIVA Direct Inc., the content and toolbar division of global digital media company, Fort-Myers-based MIVA Inc., agreed to a partnership with Netvibes, a personalized homepage company. MIVA Direct will offer its toolbar consumers a personalized start page through the newly launched Netvibes Premium Universe. MIVA will allow Internet users to personalize their start page with widgets, blogs, email accounts, social networks, instant messengers, photos, videos and podcasts.

The start page is expected to generate advertising inventory for MIVA Media clients and type-in search traffic for MIVA Direct's search monetization partner.

MIVA Direct generates millions of toolbar downloads every month and, with the announcement, toolbar users will also have the option to install a highly personalized start page. Additionally, MIVA Direct anticipates leveraging content for the start page from its growing portfolio of consumer destination sites, including the online movie community Spill.com.

"This partnership is aligned with our strategy for building consumer media and at the same time increases our consumer value proposition," Rob Roe, general manager/senior vice president of MIVA Direct, said in a press release. "We believe that this represents an opportunity for revenue growth and incremental EBITDA contribution."

MIVA Direct operates a growing portfolio of consumer websites and category specific toolbars.

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Gevity hires

former Resorts USA exec

Bradenton-based PEO Gevity appointed Michael J. Lavington to the newly created position of chief operating officer. Lavington is a citizen of the United Kingdom, meaning his appointment is subject to approval of a government work visa. Lavington has been serving as a director of Gevity since September 2006. Once COO, Lavington will report to chairman and CEO Erik Von.

As COO, he will be charged with supporting a substantial expansion of Gevity's sales force and handling operations and training for Gevity Edge Select.

Lavington has worked in executive human resource roles and at the managing director level for major U.K. and U.S. corporations. He has also been a main board director of Mecca Leisure Group, a U.K. company. In the late 1980s, Lavington was the divisional managing director of Mecca Leisure's overseas division, which included the Hard Rock Cafe Group. More recently, from 1997 to 1999, he was president and CEO of Resorts USA Inc., a subsidiary of the Rank Group, where he also served as the group HR director from 1990 to 1997. From 2000 until 2002, he was senior vice president HR and property for Global Telesystems.

Syniverse Technologies

lands Eastern-bloc roaming contract

Syniverse Technologies, a Tampa-based technology and business solution firm for the global telecommunications industry, signed a contract that extends its solution to six additional VimpelCom Group national operators.

Under the new agreement, VimpelCom Group operators in Russia, Kazakhstan, Ukraine, Uzbekistan, Tajikistan and Armenia will use Syniverse ACCESS S&E GSM Clearinghouse Services to support international GSM data roaming for their subscribers under the Beeline brand. Mobitel, a VimpelCom mobile operator based in the Republic of Georgia, selected ACCESS S&E for its data clearing and settlement services earlier this year.

Syniverse's GSM clearinghouse solution is designed to let VimpelCom's operators have a seamless and efficient data roaming service for its subscribers by ensuring all data records are cleared between the VimpelCom operators and its many roaming partners around the globe while supporting a number of international standards and VimpelCom Group business rules.

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Alico board

announces dividend

LaBelle-based land management company Alico Inc. declared a quarterly dividend of 27.5 cents per share payable to stockholders of record as of Dec. 29, with payment expected Jan. 15.

The company's board of directors also changed the fiscal year end from Aug. 31 to Sept. 30 for the fiscal 2008 year.

Alico owns 137,000 acres of land in Collier, Glades, Hendry, Lee and Polk counties and is involved in various agricultural operations and real estate operations.

Ultroid Technologies

partners with Med Tech

St. Petersburg-based Ultroid Technologies Inc., creator of the Ultroid Hemorrhoid Management System, is partnering with Med Tech Associates of Golden, Colo. As a professional manufacturer's representative Med Tech's associates will present the Ultroid Hemorrhoid Management System throughout most of the United States. The move by Ultroid is designed to increases the manufacturer's national distribution support base.

Ultroid Technologies Inc. manufactures and markets the Ultroid system, a painless hemorrhoid treatment.

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Gerdau Ameristeel

reaches new deals with USW

Tampa's Gerdau Ameristeel Corp. reached agreements with the United Steel Workers at its Sand Springs, Okla., and Calvert City, Ky., steel mills. The new contracts run through March 2, 2011 and April 22, 2011 respectively. The company reports settling eight labor contracts this year putting all of its USW union locations in North America under agreements .

Gerdau Ameristeel is the second largest mini-mill steel producer in North America.

Florikan to distribute

through Forestry Resources

Fort Myers-based Forestry Resources Inc. is now the exclusive distributor of Florikan controlled release fertilizers. Developed by Florikan ESA Corp. of Sarasota primarily for commercial markets to replace conventional fertilizers that require multiple applications, controlled release fertilizers provide nutrients for up to a yearlong growing season with a single application.

The company is providing the products to professional users in Lee, Collier, Charlotte and Hendry counties.

"This line of fertilizers benefits growers in two major areas," Alan Shaffer, vice president of sales, marketing and store operations for Forestry Resources, said in a press release. "Healthier, more stable growing conditions result in healthier plant materials and higher production. The single application reduces costs by eliminating the need to purchase and store additional fertilizers and the labor required for added applications during the growing seasons."

Forestry Resources has six wholesale-retail locations throughout Lee, Collier and Sarasota counties.