Corporate Report: April 30 - May 5

Sunovia Energy Technologies plans to expand facility, staff
Sarasota-based light-emitting diode (LED) company Sunovia Energy Technologies Inc. plans to triple the size of its facility and add 68 employees over the next three years after relocating to Sarasota County.

The company, currently with 20 employees, recently moved from a 5,500-square-foot facility in South Manatee County to an 18,000-square- foot location at the Centennial Commerce Center at Cattlemen and Fruitville roads. According to CEO Carl Smith, it needed a larger facility and to be closer to I-75.

Sunovia's EvoLucia Lighting division currently produces environmentally friendly LED lighting solutions for municipalities, universities and businesses. It plans to introduce “an extremely cost- and energy-efficient” scalable, solar cell system in 2011.

If Sunovia meets its hiring goals, it will qualify for a performance-based incentive grant, which could total $100,000 over three years.

Walter Investment buys residential loans
In its first acquisition since its recent stock offering, Tampa-based Walter Investment Management Corp. has purchased a pool of residential, first lien, fixed-rate mortgage loans on single-family, owner-occupied homes in the Southeast valued at $11 million.

Mark J. O'Brien, Walter Investment's chairman and CEO, said in a press release, “This pool is indicative of opportunities currently available in the market, and we will continue to diligently develop our pipeline so that we may add additional attractive assets to our portfolio in a reasonable timeframe.”

Walter Investment Management Corp. is an asset manager, mortgage servicer and mortgage-portfolio owner specializing in less-than-prime, non-conforming and other credit-challenged mortgage assets. It currently has $1.9 billion of assets under management and annual revenues of $190 million.

BB&T Corp. appoints two regional executives
Bank and investment and insurance firm BB&T has appointed two area executives — Paul Dumke for the Gulf Coast and Southern Florida, and David Gambarino for the Tampa Bay region.

Dumke, a senior vice president, is based at BB&T's financial center in Holiday. With more than 35 years in retail, commercial and wealth management, he most recently was senior vice president at Colonial Bank.

Gambarino, who joined BB&T in 2000, was most recently a senior vice president for BB&T in Montgomery County, Md. He is now based in BB&T's financial center in Tampa.

As of last Dec. 30, Winston-Salem, N.C.-based BB&T Corp. had $165.8 billion in assets and operated more than 1,800 financial centers in 12 states and Washington, D.C.

TUI Marine gets on-board with other makers for new motorboat
Le Boat, part of TUI Marine, the Clearwater-based division of TUI Travel Plc, will work with two major boat makers: the Beneteau Group, the world's number one sailboat builder; and Seaway, the Slovenia-based boat design and development company to design, develop and build a new leisure motorboat for its exclusive use.

The boat will use hybrid and solar technology, and have a unique hull design to effect minimal waves for maximum performance and reduced riverbank erosion.

Le Boat, formerly Crown Blue Line and Connoisseur in Europe, plans to provide the boats in all of its key cruising areas, currently encompassing over 200 self-drive routes from 42 bases in eight European countries. It is the largest operator of self-drive boating vacations on the continent with more than 1,000 cruisers.

Innovaro creates venture fund Verdant Ventures Advisors
Tampa-based Innovaro has formed Verdant Ventures Advisors LLC, a technology transfer venture fund.

Doug Schaedler, CEO of Innovaro, said in a press release, “The underlying goal is to further increase our clients' commercialization success rates as well as increase the frequency of technology licensing for the company.”

Verdant Ventures will utilize Innovaro's contacts and networks with university technology transfer offices, medical centers, federal research laboratories and corporations.

PGT Industries' windows gain DOE preferred status
North Venice-based PGT Industries says it has developed the first impact-resistant windows with a rate of heat loss ratio (U-factor) of less than 0.22, which meets the requirements of the Department of Energy's R-5 Volume Purchase Program.

The windows are designed to provide the highest level of energy efficiency and noise reduction in the impact-resistant market.

PGT products, in vinyl-framed awning, casement and fixed lite window styles, will gain DOE designation for consideration by associations, K-12 schools and universities, local/state agencies, federal government, builders/contractors, and nonprofits.

“Today's residential and commercial markets demand energy efficiency, lower costs, noise reduction and structural integrity, and we are the first to provide this in one complete window package,” Debbie LaPinska, PGT vice president of sales and marketing, said in a press release.

Founded in 1980, the company employs 1,000 at its manufacturing, glass laminating and tempering plants in Florida and North Carolina.

AVI-SPL, Materials Processing offer free equipment recycling
Free recycling of audiovisual components and accessories made by Tampa-based AVI-SPL will be provided via a partnership with Materials Procession Corp.

Equipment can be collected from participating sites and securely transported to MPC's recycling center for sorting and processing. Individuals and businesses can also have projector lamps recycled by completing a service request form on the AVI-SPL Web site, plus other electronic equipment at preferred rates.

The result of a merger between Audio Visual Innovations and Signal Perfection Ltd., AVI-SPL is the largest global integrator for audio- and video-communications systems and services.

SUNZ bringing workers' comp to five additional states
Known primarily for its presence in Florida, SUNZ Insurance Co. of St. Petersburg is now able to provide workers' compensation policies in Kentucky, Tennessee, Arkansas, Alabama and Georgia.

“We hope to add several other states within the next couple of months,” Doug Lilak, CEO of SUNZ Insurance Co., said in a press release.

Coral Hospitality management extended for two Georgia resorts
Coral Hospitality, a Naples-based, full-service, hospitality management and investment company, gained a five-year extension of its contract with the North Georgia Mountains Authority that began in 2005 for the Brasstown Valley Resort & Spa in Young Harris, Ga., and Lake Blackshear Resort & Golf Club of Cordele, Ga.

Coral Hospitality will continue to manage all operations for the two state-owned resorts including rooms, food and beverage, recreation including golf courses, and banquet and conference facilities. At the Brasstown resort, Coral will also continue to operate the Equani Spa and Equestrian Center, along with marina operations at Lake Blackshear.

Coral Hospitality manages more than 25 properties throughout the southeastern United States and the Caribbean.

U.S. SBA to honor Mr. Shower Door in Florida
Mr. Shower Door of Florida will be honored as a winner of the U.S. Small Business Administration's South Florida District's 2010 Jeffrey H. Butland Family-Owned Small Business of the Year Award in May.

The award acknowledges the family's achievements in sustaining a successful business over two generations, creating jobs, and contributing to the community.

Brothers Keith and Douglas Daubmann, company president and vice president, respectively, carry on the legacy launched in 2003 by Bill and Donna Daubmann who remain active helping their sons with daily operations.

“My sons are great businessmen and I am proud of the work they have done to earn this award,” founder Bill Daubmann said in a press release.

Mr. Shower Door of Florida employs 19 full-time and two part-time workers in Fort Myers and Naples. It provides a wide variety of product options for many types of bath and shower remodeling projects, and also manufactures and installs LUXUS frameless shower doors. The company supports several organizations including Make-A-Wish of Southwest Florida.

Beverage Pouch Group expands distribution
Sarasota-based Beverage Pouch Group LLC's ShotPak Ready-To-Drink cocktails along with the rest of its brands are being distributed exclusively in California by Global Worldwide Traders LLC.

California is the twelfth in a 24-state program to carry the 20 natural Ready-To-Drink cocktails and STR8Up spirits. The drinks are all contained in specialized stand-up pouches.