Corporate Report

Corporate Report

TBE Group merges with Cardno Limited

Clearwater-based civil engineering firm TBE Group has merged with Australian firm Cardno Limited to create an international company of 3,400 employees in more than 60 countries.

"Our motivation to seek a partnership with an international firm like Cardno was three-fold," Patrick Beyer, president of TBE, said in a press release. "First, to provide our clients with a wider range of services and locations; second, to provide our talented staff with additional opportunities for career development; and third, to accelerate the growth of TBE across the U.S. and overseas. TBE is a high growth, profitable business, and by combining with Cardno, we will be able to expand organically and complement our existing discipline offering with targeted acquisitions."

TBE has experienced 14% annual revenue growth during the last 10 years and recently expanded into Canada, the U. K. and Asia. Founded in 1984 by Beyer as Tampa Bay Engineering, TBE currently employs 448 in 32 offices.

TBE provides Cardno an increased expertise in handling major infrastructure projects, especially in the areas of utility mapping, utilities coordination, right-of-way acquisition and relocation, transportation, construction, plus civil and environmental engineering.

With the addition of TBE, Cardno's U.S. operations now comprise 1,150 staff in 39 offices. Cardno's other U.S. businesses include WRG Design, Emerging Markets Group and XP Software.

Comegys Insurance Corner

buys Jakhotia Insurance

St. Petersburg-based Comegys Insurance Corner has acquired Jakhotia Insurance Group. The firms will consolidate operations in Comegys' offices in Bayfront Towers on One Beach Drive.

Founded by Deepak "DJ" Jakhotia in Tampa in 1998, the Jakhotia firm insures hotels and motels as well as retail segments throughout Florida.

Comegys Insurance, headed by Mark Berset, is the 77th largest property and casualty insurance agency in the country.

Roper Industries buys

U.K.'s Technolog

Sarasota-based Roper Industries Inc. has acquired Technolog, a U.K.-based provider of network monitoring, pressure management, automatic-meter recording and smart meter products.

Technolog, which will maintain its management team and become part of Roper's RF Technology division, designs, manufactures and supplies specialty electronic products under the Cello brand name for use by water, gas and electricity markets. The company's Utilitec Services Limited business provides a nationwide installation and maintenance resource. The Utility Data Services Limited business operates a dedicated data center and hosts Web sites for water utilities and energy suppliers.

Headquartered in Wirksworth, Derbyshire, Technolog has a base of more than 250,000 monitoring and AMR points for the commercial and industrial sectors, primarily in Europe.

"During 2008 we have made four strategic acquisitions in the [RF] segment, utilizing our disciplined acquisition approach, which has diversified our business and broadened the applications we can provide our customers," Brian Jellison, Roper's chairman, president and CEO, said in a press release. "Our RF Segment, which previously operated primarily in the transportation sector, now has meaningful market positions in education, health care, security and utilities. Technolog is the U.K. leader in the niche markets where it operates. This substantial and growing installed base in the fast-growing AMR and smart metering sector makes Technolog another great addition to our growing RF segment."

Along with its acquisition of Horizon Software International earlier this month, Roper expects the two actions, costing approximately $225 million, will generate more than $100 million in sales and contribute earnings, before interest, taxes, depreciation and amortization, of at least $25 million in 2009.

Roper provides engineered products and solutions for global niche markets, including water, energy, radio frequency and research/medical applications.

Flanders to move corporate

operations to N.C. facility

St. Petersburg-based Flanders Corp. plans to relocate its corporate functions to its Washington, N.C., facility.

"We are striving to develop a company model with the lowest overhead in the air filtration industry," Harry Smith, COO, said in a press release. "We will continue to identify nonperforming operations and address them accordingly during the fourth quarter. Our focus is to deliver world-class products at a reasonable price and to be the leader in innovation in our industry. We will continue to invest in IT, automation and new technology."

Nanak's Landscaping

buys All About Green

Pompano Beach-based Nanak's Landscaping, the Pompano Beach-based commercial landscape maintenance company, acquired All About Green, a company in the same industry in Sarasota. Susan Guenther, founder of the local firm, will join Nanak's in a management role.

"This acquisition has tremendous potential for our continued growth and expansion in Florida," Ed Coil, Nanak's Landscaping's Sarasota branch manager, said in a press release.

Founded in 1973, Nanak's employs about 700 in offices in Sarasota, Tampa, Orlando, St. Augustine and Jacksonville.

Revolution Money debuts

new reloadable card

St. Petersburg-based Revolution Money Inc. has introduced the MoneyExchange RevolutionCard, providing free, online, person-to-person payments to other account holders, access to some ATMs and retail store purchases from a single account.

The card has no visible name or account number and is protected by a secret pin.

"A single MoneyExchange account now uniquely blends the convenience of online money payments with the practicality of card capabilities in the physical world," Jason Hogg, founder and CEO of Revolution Money, said in a press release. "A parent, for example, can go online and send money to a child away at college without paying any transaction fees. The student could then use that money to pay another account holder online, perhaps a roommate for shared expenses, or use her MoneyExchange Card to either withdraw cash from a nearby ATM or make a purchase at a nearby store."

The new card requires only a 0.5% transaction fee compared with the 1.5% to 3% associated with most other card brands. Accounts for the card are issued by First Bank & Trust in Brookings, S.D.

Revolution Money is a member of the Revolution LLC family of companies.

NYSE grants extension

to WellCare Health Plans

The New York Stock Exchange has granted Tampa-based WellCare Health Plans Inc. an extension for its listing on the exchange.

Due to a delay in the company's filing of its 2007 annual report with the U.S. Securities and Exchange Commission, the company was at risk of being delisted, suspended or subject to other penalties by the NYSE.

WellCare has until March 17, 2009, to file the document. The decision can be reassessed by the NYSE which will monitor the company's progress and could suspend the stock prior to the final filing date.

WellCare Health Plans provides managed-care services for government-sponsored health care programs.

TIB Financial establishes

new trust committee

Naples-based TIB Financial Corp., parent company of TIB Bank, The Bank of Venice and Naples Capital Advisors, has created a new trust committee of TIB Bank's board to be chaired by Michael H. Morris, executive vice president and a bank director.

"These actions have been taken in anticipation of the approval of the bank's application to exercise trust powers," Thomas Longe, chairman and CEO of TIB Financial Corp., said in a press release. "With these measures in place, we will be able to expand services to our clients immediately upon approval."

The trust committee, to oversee the bank's trust and investment management functions, will also be comprised of Longe and Edward Lett, president and vice chairman of TIB Financial Corp.

Naples Capital Advisors, which was acquired earlier this year, will provide investment management services with Morris serving as its president and CEO.

In other TIB Financial news, the holding company announced a 1% stock dividend for the third quarter valued at approximately $0.07 per share. The stock dividend is payable on Oct. 10 to stockholders of record as of Sept. 30.

Etc...

Technology Research CFO

plans to resign

Technology Research Corp., headquartered in Clearwater, reports that Barry Black will retire as the company's vice president of finance, chief financial officer and secretary on or before Oct. 31. The company has started a search for a replacement.

Technology Research designs, manufactures and markets electrical-safety products and also supplies power-monitoring and control equipment to the United States military and its contractors.

Tarpon Springs Institute offers

new cataract lens implant

St. Luke's Cataract & Laser Institute in Tarpon Springs has been selected as one of the first medical facilities in the nation to offer the new Crystalens HD accommodating cataract-lens implant by Bausch & Lomb. Drs. James P. Gills and son Pit Gills perform cataract surgery at St. Luke's.

This is the second major distinction bestowed by Bausch & Lomb to St. Luke's this year. On April 9, James Gills, one of the most experienced cataract and intraocular lens implant surgeons in the world, was selected by the company to perform the 100,000th Crystalens surgical procedure. It was part of a nationwide, same-day program that provided nearly $1 million worth of cataract surgeries for many low-income patients at no cost to them.

Bausch & Lomb received FDA approval in June for the new lens, which, like the original Crystalens implant, uses the eye muscle to focus on objects at all distances. The new Crystalens HD design, however, features a reshaped surface that provides improved near vision without compromising intermediate or distance vision.

Founded by James Gills in 1968, St. Luke's Cataract & Laser Institute features 52,000 square feet of clinical space and a 26,000-square-foot, Medicare-certified, outpatient surgical center.

Alico converts line of credit

debt on long-term loan

LaBelle-based land management company Alico Inc. reports it converted $50 million of the outstanding balance on its $175-million line of credit with Farm Credit of Southwest Florida to a 10-year term loan with a fixed interest rate of 6.79%.

The mortgage requires equal payments of $1.71 million per quarter until maturity.

Alico's CEO Dan Gunter says the board decided to fix the interest rate on a portion of its loan as part of its risk management program.

Alico owns 135,500 acres of land in Collier, Glades, Hendry, Lee and Polk counties and is involved in various agricultural operations and real estate activities.

HomeBanc opens two new

branch locations in Tampa

HomeBanc, a wholly owned subsidiary of Tampa-based HomeBancorp Inc., is opening two, new, full-service bank locations in Tampa at 7650 Courtney Campbell Causeway at Rocky Point, and in the Bromley Building at 3725 West Grace Street.

These will be HomeBanc's third and fourth full-service branches to open in the region; the others are in Lakewood Ranch and Lake Mary. HomeBanc also operates loan-production offices in Tampa, Lake Mary, Brandon and Belleair Bluffs.

Brooke Chase Associates

finds CEO for Hoffco

Sarasota-based executive search firm Brooke Chase Associates Inc. placed Steve Holcomb as president and CEO of Woodland Lake, Minn.-based Hoffco Inc., a designer and manufacturer of wood kitchen cabinet components.

Holcomb, who previously was director of sales and marketing for Conestoga Wood Specialties for 16 years, is the son of Jeffrey Holcomb, one of the founding members of American Woodmark.

Beasley Broadcast Group

issues reduced quarterly dividend

The board of directors of Beasley Broadcast Group Inc., a Naples-based radio broadcaster, declared a quarterly cash dividend of five cents for each share of common stock. The dividend is payable on Oct. 16 to shareholders of record on Sept. 30.

Beasley Broadcast Group reduced its quarterly dividend from 6.25 cents per share of common stock as it intends to allocate additional cash flow from operations to additional repayments of its credit line. The company has already made repayments of $9.5 million in the six months that ended June 30, 2008 and total debt was reduced to approximately $181.6 million at that time from $191.1 million.

Founded in 1961, Beasley Broadcast Group owns or operates 44 stations in the United States.

Gates, Marinelli to be added

to Business Hall of Fame

Junior Achievement of Southwest Florida will induct Todd Gates of Gates and the late Paul J. Marinelli of Barron Collier Cos. into the Business Hall of Fame, Collier County, at the Naples Grand Beach Resort on Oct. 28.

The honor recognizes prominent business leaders who are also role models for youth through their contributions to the community.

Gates has been a principal of Gates, a construction, development and real estate company, since 1993.

He has participated in Leadership Florida 2007 and the Florida Chamber of Commerce, and also serves on the boards of many area nonprofit organizations including Junior Achievement and The Children's Hospital of Southwest Florida.

Marinelli had been president and CEO of the Barron Collier Cos. for 11 years until his death on April 10. He was a supporter of the American Heart Association, Audubon of Florida, Florida Gulf Coast University College of Business and Florida TaxWatch.

Superior Uniform Group

picks Steelwedge Software

Seminole-based Superior Uniform Group has chosen Pleasanton, Calif.-based Steelwedge Software to improve its sales forecasting process and overall operations.

"Our goal is to improve sales forecasting accuracy while minimizing the effort and distraction for the field sales team," said David Schechter, vice president sales administration for Superior Uniform Group, which makes uniforms and other image apparel, in a press release. "We are looking to formalize and streamline our process, and better communicate our customer's requirements to the rest of the organization."

Three area companies to

partner in Mercedes contest

Boulevard Customs and duPont Registry, both of St. Petersburg, chose Sarasota-based Robrady design to collaborate in a contest to be held by Mercedes-Benz USA at this year's SEMA auto show in Las Vegas, Nov. 4-7.

The companies will customize a project car in the Urban Whip category. The goal of the entrants is to create a Mercedes GLK model that "will turn heads and rule the road" when the SUV line is launched in 2010.

"Being chosen by Boulevard Customs for the Mercedes-Benz competition is very exciting," Robrady president Rob Brady said in a press release. "Moving into the automotive world was a logical step for our company and now we know that we have arrived."

The winners in four categories will be determined from voting at SEMA, the L.A. Auto Show and on a Web site created by Mercedes.

Robrady design is a product design and development studio, Boulevard Customs provides automobile customization services on luxury and exotic vehicles, and duPont Registry is an Internet luxury auto marketer.

RK

Manatee Community College

applies for four-year degrees

The Manatee Community College District Board of Trustees applied to the Florida Department of Education to offer four-year degree baccalaureate programs in nursing, math/science education and applied science, with career tracks in either environmental studies, exercise science and nutrition, health care management, nonprofit leadership and management, radiologic sciences or technology management.

A regional-needs assessment, also authorized by MCC trustees, confirmed student and employee interest for these programs. Formal proposals should be submitted in the next six months. If approved, MCC officials estimate the new programs will be offered in a year to 18 months.

Gevity's next CEO

receives work permit

Michael Lavington has received work authorization from the U.S. government to join Bradenton-based PEO Gevity as CEO and chairman of the board. Gevity's previous CEO and chairman Erik Vonk resigned on Oct. 19, 2007.

Most recently, Lavington was a main board director of Mecca Leisure Group, a U.K. FTSE 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, he was president and CEO of Resorts USA Inc., a subsidiary of the Rank Group, from 1997 to 1999.

Gevity provides payroll and payroll administration, benefits and benefits administration, risk management and loss prevention, HR policies and procedures, new hire support, performance management, and employee development and retention.