Page 1

COMPANY

KNOWLEDGE

HOWEVER

DEBT

DEAL

TRANSACTION MAJOR

ASSETS

ONE

OLD KEEP

VP

CEO MEMBERS FINANCIAL DEMAND

GOVERNMENT

BUYS

NEW

TAX

BRAND

OPERATING GAIN LAWS INCREASED MANY PRICES

MARKET

COMPANIES

DECEMBER 20, 2013

MERGERS & ACQUISITIONS VALUATION

ACQUIRING

CASH

ACQUIRED

UNITED JOIN

NEGOTIATE PURCHASE

TARGET

TAX

MERGE

NAME

FINANCING

CONTROL

OFFER

BIG DEAL

VALUE STOCKS

TERMS

INDUSTRIES

COST CONSUMERS

PRESIDENT

PRIVATE

SHAREHOLDERS PAYMENT

FIRMS

DIFFERENT

BARGAIN FACTORS

LIABILITIES

PROSPECT

HIGH

STOCK

FINANCING

CFO

SELL LARGE

CONTROL DEALS

S.C. saw some big deals in 2013 – are more on the horizon?


raymond-weil.com | maestro collection


UBJ MANUFACTURING

Michelin Opens 9th SC Plant By Jennifer Oladipo | senior business writer | joladipo@communityjournals.com

Last week Michelin

“These tires are no ordinary ones, and they cannot be built just anywhere by just anyone.” Bruce Brackett, senior vice president, Michelin Earthmover & Industrial Tires Worldwide

“For it is in giving that we receive.” — St. Francis of Assisi

Photo Provided

wide, in a release. “These tires are no ordinary ones, and they cannot be built just anywhere by just anyone. The fact is, the Michelin Earthmover tire is a highly sophisticated product to develop and build, and today South Carolina is the leader for the vast Michelin Group.” Several state officials attended the opening event, including Gov. Nikki Haley, Sen. Lindsay Graham and S.C. State Ports Authority CEO and President Jim Newsome. “The opening of this new Michelin plant once again shows South Carolina remains a global player when it comes to manufacturing,” Graham said. “But it also underscores the critical importance to our state’s economy of deepening Charleston Harbor, as 80 percent of the products made here will be exported overseas. If we want to continue growing our economy and expanding our workforce, we need Charleston Harbor deepened.” The tire industry is rapidly expanding in South Carolina. Continental Tires will open a $500 million plant in Sumter County early next year, and Bridgestone Americas will open a new plant in Aiken County and expand an existing facility, all to the tune of about $1.2 billion.

When you give a gift to someone special, a gift from the heart, it is a gift of reflection. We are honored at Rush Wilson Limited that you come to us to find the very best. During moments like this we come to know our customers and their families. We enjoy both a professional and personal relationship with our clients. The staff at Rush Wilson Limited already understands the importance of your sharing this time of year with us. We will serve you with courtesy and expertise and gift wrap all of your selections as though they were our own. Giving is an act of kindness. You have been kind, Greenville, and we thank all of you who have made this year wonderful! We encourage everyone to give, however you choose, to community, friends and family. —Rush Wilson III

23 West North Street, Greenville, SC 29601 | 864.232.2761 | www.rushwilson.com Open Mon.-Sat. 9:30am - 5:30pm

December 20, 2013

UPSTATE BUSINESS JOURNAL

M122A

marked the opening of a new Anderson County facility that will produce some of the largest tires in the world. With additional production at the plant, known as US10, South Carolina will become the top producer of tires in the United States. This is Michelin’s ninth facility in the state, constructed in just under 18 months. Production is slated to begin next month and sales later in 2014. The 800,000-square foot facility will make South Carolina the largest producer of Michelin Earthmover mining tires worldwide. It is located in proximity to the company’s existing rubber processing plant. The tires, which will be used on earthmoving equipment around the world, can stand as high as 13 feet tall and weigh up to 5.5 tons. Michelin announced a $750 million investment in April 2012 to construct and expand its existing Earthmover manufacturing plant in Lexington, S.C. Both projects have created hundreds of jobs and expect an additional several hundred in future years, according to a statement from the company. “That we have constructed this stateof-the-art facility in 17 months is nothing short of remarkable,” said Bruce Brackett, senior vice president, Michelin Earthmover & Industrial Tires World-

3


Volume II, Issue LI

December 20, 2013

WORTH REPEATING “She never enjoyed cooking and I don’t think she’ll mind me saying she is not very good at it – we ate a lot of pizza growing up.” Cameron Kendrick, owner of the food-delivery business Good to Go, on being influenced by her mother’s business skills, not her culinary skill.

“These tires are no ordinary ones, and they cannot be built just anywhere by anyone.” Bruce Brackett, a Michelin senior vice president, on the large tires to be built at the company’s newly opened Anderson plant.

“Most of us don’t need that because we carry it year-round.” Robert Watson, plant manager at Carolina Fashions in Mauldin, a top producer of Santa Claus ensembles, on the Santa Belly stuffed vest the plant’s outlet stocks.

3

Photo Provided

Michelin Earthmover tires like these will be produced at the company’s new Anderson plant.

VERBATIM

TBA

On Legislative Action… “Why do you accept that? Say we as a group demand that you do something about our roads. Call us up.” State Rep. Tommy Stringer of Greer, addressing the Greenville Chamber of Commerce’s Legislative Breakfast, on lawmakers who are reluctant to support a tax increase ahead of the 2014 elections.

4

UPSTATE BUSINESS JOURNAL

Word is the Tea Cozy, Greenville’s newest independent teashop, will be opening soon inside the Blackbird Emporium on Old Buncombe Road. Expect a wide selection of teas and teamaking supplies, plus snacks and specialty beverages… Jimmy John’s fans may look forward to a new

December 20, 2013

location coming soon to 1025 Woodruff Road in Magnolia Park…


UBJ ADVERTISING

New Creative Heads at Erwin Penland Con Williamson and John Cornette hail from global shop Saatchi & Saatchi By Jennifer Oladipo | senior business writer | joladipo@communityjournals.com

Erwin Penland’s new hires at the top of its creative team hail from global advertising agency Saatchi & Saatchi. The agency announced last week that it appointed Con Williamson as chief creative officer. John Cornette was named senior vice president and executive creative director. Williamson’s appointment is considered a major win in advertising circles. The company said Williamson would be responsible for driving creative ideas across the agency and for clients, he would “be integral to bringing a new generation of thinking to the organization.” The company said these and other recent hires would increase capacity to serve some newly acquired accounts and allow for future growth. Williamson will work from Erwin Penland’s New York office unlike his predecessor, Andy Mendelsohn, who had worked in Greenville and for whom the chief creative officer position was created two years ago. Mendelsohn will leave Erwin Penland and his plans are yet unknown.

President Joe Erwin sor, Mendelsohn, had also spent time at said staffing up in New York was important to Saatchi before moving the company’s growth. to Greenville in 2000. Another recent hire, “At Erwin Penland, we’re very proud of our managing director John Dunleavy, most South Carolina heritage and believe that is one of recently served as execthe things that sets us utive vice president and apart from so many other managing director at agencies,” Erwin said. Saatchi New York. He “While we continue to will lead operations and focus our energy on the growth for the agency’s Photo Provided From left: Con Williamson and Joe Erwin. Greenville office, to New York office in adachieve our long-term Erwin Penland, which has 375 emdition to overseeing goals of becoming an even bigger ployees. Cofounder Gretchen Erwin and integrating account management player on the national scene, we felt had worked at Saatchi before opening best practices across teams and we needed to add some top talent and her own shop. Williamson’s predeces- offices. fresh thinking to increase our creative offering as well as expand our presence in New York in order to better serve future and current clients.” Cornette will work in Greenville in a position that was newly created for him. He had just been promoted to executive creative director at Saatchi New York in July. Saatchi hires are nothing new at Spartanburg Rehabilitation Institute (SRI) is now ready to serve your community.

All of us at SRI would like to

wish you a happy & healthy Holiday season It is our focus, and pleasure, to ensure you and your loved ones are happy and healthy when they are our guests. We work hard every day to offer a high-level of specialized care for those recovering from a stroke, brain, spinal cord or orthopedic injury and other impairments. Call us today to take a tour of our brand new, state-of-the-art facility and meet our friendly staff.

864.594.9600

SRI is part of the Ernest Health network of facilities. Eight of Ernest’s rehabilitation hospitals have consistently ranked in the top 10% of Inpatient Rehab Facilities in the United States by UDSMR®. Ernest Health strives for all their hospitals to receive this recognition.

To learn more about SRI and our services, visit our website at

SRI.ernesthealth.com

160 Harold Fleming Court • Spartanburg, SC 29303 • ph: 864.594.9600

December 20, 2013

UPSTATE BUSINESS JOURNAL

5


UBJ RETAIL

Looking Gift Cards in the Mouth You better watch out – gift cards can be a convenient, but fraud-prone, option By Sherry Jackson | staff | sjackson@communityjournals.com

The last-minute Christmas gift rush is on, and what were once frowned-upon presents – gift cards – are now acceptable and even coveted. Many local stores display gift cards from national restaurant, retail and specialty chains. But

beware: Some gift cards can carry hefty activation or per-transaction fees, so read the fine print on the card before purchasing. While there are online options for purchasing gift cards, the National Retail Federation Foundation (NRFF) cautions shoppers to “only buy gift cards from reputable retailers – not online auction sites. Gift cards on online auction sites are more likely to be counterfeit or obtained through fraudulent means.” The Better Business Bureau says that gift

Work efficiently, close

deals and conduct meetings in the sophisticated, iPad-ready e-lounge and private offices

BY THE NUMBERS

4 in 5

Shoppers who plan to purchase at least one gift card this year

$163

Average total to be spent by each shopper on gift cards

$29.8 billion

Total to be spent on gift cards nationwide Source: National Retail Federation Foundation survey

cards are a favorite target for con artists this time of year, and is warning consumers to be on the lookout for sneaky

schemes aimed at taking advantage of their popularity. In one scheme, thieves go into a store, find the gift-card rack and then secretly copy the numbers off the cards, sometimes scratching off the security codes. The thieves then check online or call the 1-800 number to see if someone has bought the cards and activated them. As soon as a card is active, the thieves go on a shopping spree online. By the time you try to use the same card, the money is long gone. So make sure you inspect the card to ensure it hasn’t been tampered with. You can also ask a store clerk for a card that’s been kept behind the counter. >>

Celebrate exciting accomplishments

with family, friends or co-workers in your choice of private dining rooms

Connect in the upscale Host

productive meetings in our dynamic boardroom with hightech business amenities and signature service

6

UPSTATE BUSINESS JOURNAL

December 20, 2013

bar with great city and mountain views; network with Greenville’s top business professionals

55 Beattie Place | commerce-club.com | 864.232.5600


UBJ RETAIL >>

“Consumers need to be on the lookout for gift cards that appear to be ‘open’ or out of their original package, and cards that state an expiration date that is coming up or that has passed,” says Vee Daniel, Upstate BBB president. “Shoppers should also be wary of online auction sites that promise ‘full value guaranteed’ gift cards. It’s sites like these that are prone to selling old, valueless cards that leave the gift giver and receiver distraught.” The Better Business Bureau receives hundreds of complaints each year for the gift card industry. Complaints commonly allege issues with usability and incorrect charges applied. Text scams that falsely claim recipients have won a gift card are extremely common during the holidays and expected to surge this season as they did in 2012. In some cases, consumers are disgruntled when they are given an expired gift card with loaded cash that isn’t usable until the expiration date is corrected. After sending the expired card in for replacement, the consumer is left empty-handed when the card fails to ever

TYPE OF GIFT CARDS PLANNED TO PURCHASE (NOV. 2013) Department Store

40.25%

Restaurant

34.21%

Visa/Master Card/American Express/Discover Gift Card

24.39%

Electronics Store

20.14%

Coffee Shop

19.59%

Book Store

18.91%

Entertainment (movies, music, etc.)

18.68%

Discount Store

14.46%

Grocery Store/Gasoline

13.84%

Online Merchant

12.67%

Gas Station

11.99%

Home Improvement Store

9.12%

Specialty Clothing Store

7.93%

Sporting Goods Store Salon/Spa Shoe Store

6.23% 5.91% 5.08%

MOST WANTED GIFT CARDS FOR 2013* 1. Walmart

10. Subway

2. Darden Restaurants (includes Red Lobster, Olive Garden, LongHorn Steakhouse, etc.)

11. Target

3. T.J. Maxx

14. McDonald’s

4. Starbucks

15. Trader Joe’s

5. Home Depot

16. Marshalls 17. Panera Bread

12. Kohl’s 13. Amazon.com

Craft Store

4.86%

6. Costco

Catalog

4.61%

7. J.C. Penney

18. Bed Bath & Beyond

Home Décor/Houseware Store

4.52%

8. Lowe’s

19. Macy’s

9. Sears

20. Walgreens

Other Office Supply Store

Sources: Monthly Consumer Survey, *Gift Card Rescue

3.86% 2.54%

0% 10% 20% 30% 40% 50%

return to them. For tips for purchasers and receivers of gift cards, visit upstatesc.bbb.org/ consumer-tips-holiday.

Gift Card Tips from BBB KNOW THE RULES. Federal rules restrict fees and affect gift card expiration dates. These rules apply to retail gift cards, which can only be redeemed at the retailers and restaurants that sell them; and bank gift cards, which carry the logo of a payment card network like American Express, Visa, or MasterCard and can be used wherever the brand is accepted.

CHECK IT OUT. Make sure you are buying from a known and trusted source. Always check out a business at bbb.org. Avoid online auction sites, because the cards sold there may be counterfeit or may have been obtained fraudulently.

READ THE FINE PRINT BEFORE BUYING. Is there a fee to buy the card? Are there shipping and handling fees for cards bought by phone or online? Will any fees be deducted from the card after it is purchased?

INSPECT THE CARD BEFORE BUYING IT. Verify that no protective stickers have been removed, and that the codes on the back of the card haven’t been scratched off to reveal a PIN. Report any damaged cards to the store selling the cards.

PROVIDE BACKUP. Give the recipient the original receipt in case the card is later lost or stolen.

TREAT THE GIFT CARD LIKE CASH. For receivers, it’s important to report lost or stolen cards to the issuer immediately. Some issuers will not replace cards that are lost or stolen, while other issuers will, for a fee. Make sure to use gift cards as soon as possible, because it’s not unusual to lose or forget about them. For more consumer tips, visit bbb.org.

December 20, 2013

UPSTATE BUSINESS JOURNAL

7


UBJ MANUFACTURING & EMPLOYMENT

Office Jobs Grow Despite Fewer 4-Year Degrees By Jennifer Oladipo | senior business writer | joladipo@communityjournals.com

Although

the

METRO % 25+ POPULATION POPULATION 25+ % OFFICE-USING JOBS NUMBER OF OFFICE-USING Greenville area has the STATISTICAL W/BACHELOR’S OR W/BACHELOR’S OR REGAINED SINCE JOBS GAINED/LOST SINCE lowest percentage of AREAS HIGHER (2011) HIGHER (2011) RECESSION (OCT. 2013) RECESSION (OCT. 2013) people with bachelor’s Columbia, SC 29.8% 145,742 95.7% -400 degrees or higher compared to nearby metros, Charleston - N. Charleston - Summerville, SC 30.2% 129,959 89.7% -600 it reclaimed and gained Greenville - Mauldin - Easley, SC 25.2% 135,604 131.0% 3,500 more office-using jobs Charlotte - Gastonia - Rock Hill, NC/SC 29.9% 428,791 154.8% 12,600 since the recession than Durham - Chapel Hill, NC 43.3% 140,334 177.4% 2,400 the rest of the state. Raleigh - Cary, NC 41.9% 298,690 196.3% 10,300 A study by Colliers Savannah, GA 27.5% 60,265 34.6% -3,400 International looked at Atlanta - Sandy Springs - Marietta, GA 34.7% 1,165,290 116.4% 11,300 “brain hubs,” or cities in Sources: U.S. Census Bureau, Bureau of Labor Statistics, Colliers International which a high percentage of the population over 25 years old has earned at least a bach- area (MSA) had the lowest level of Jessica Dib, statewide research coor- to Greenville for work. Also, an inelor’s degree. Office-using employ- educational attainment at 25 percent dinator with Colliers, said information crease in postgraduate education ment included financial activities, compared with seven areas in Georgia is also doing well, but the other two options, such as the relocation of information and professional and and the Carolinas. sectors play a larger role in office-using Clemson’s business and real estate Yet the Greenville MSA recovered employment. TD Bank, a large employ- programs to Greenville, she said. business services. The Raleigh and Durham MSA unColliers found that brain hubs have better than the Columbia, Charleston er in Greenville, significantly contribseen the most rapid improvement and Savannah, Ga., MSAs overall, and utes to financial services employment.  surprisingly had the highest percentage since the recession. The Green- regained a higher percentage of lost Another part of the explanation is of bachelor’s degrees, and highest jobs than Atlanta did. ville-Mauldin-Easley metro statistical a movement of people from Columbia percent recovery of office-using jobs.

Suiting Up Santa

Mauldin facility is a top costume producer By Leigh Savage | contributor | lsavage@communityjournals.com

If your child sat on Santa’s lap this year, there’s a good chance that red velvet suit was made right here in the Upstate. From inexpensive flannel costumes to $350 satin-lined velvet suits nice enough for Mr. Claus himself, Carolina Fashions in Mauldin is a top producer of Santa Claus ensembles that are shipped to shops around the country. Carolina Fashions is owned by New York-based Rubie’s Costume Co. “We make all kinds of costumes,” said Robert Watson, plant manager. “Santa suits and Mrs. Claus, along with Easter Bunnies and Halloween costumes. Right now we’re making Wonder Woman and Batgirl.”

8

UPSTATE BUSINESS JOURNAL

December 20, 2013

His staff, which includes 60 sewing machine operators, can churn out about 60 to 80 Santa Claus suits in a day. The team focused on manufacturing them in October to have them ready for December sales. Rubie’s manufacturing facilities around the country specialize in different types of costumes, and the Mauldin outpost focuses on the higher-quality Santa suits. “Right now, we’re making four different styles,” he said. However, the top seller produced at his facility is Dorothy from “The Wizard of Oz.” “We make whatever the New York office tells us to make,” he said. Most costumes are shipped to distribution centers and stores, but Carolina

Fashions also has an on-site outlet with thousands of Santa suits in stock, along with Christmas robes in adult and child sizes for those portraying Mary, Joseph or other roles in holiday productions. The outlet also stocks the Santa Belly, a vest that can be stuffed to give a more rotund look. “But most of us don’t need that because we carry it year-round,” Watson said with a laugh. Rubie’s Costume Co. is the world’s largest designer, manufacturer and distributor of Halloween costumes and accessories, according to Rubie’s marketing consultant Sherri Klaus. The family-run business has been creating costumes for various holidays for more than 60 years. The company has been in South Carolina since 1991, said Watson, who joined in 1992. The Carolina Fashions manufacturing facility started operating on Bon Air Street in Mauldin – the site of the former Her Majesty store – in 1995.


UBJ INNOVATE

By BLAINE CHILDRESS

Paid to Play Charles Townes award winner Schirmer continues his career in innovation Henry “Hank” Schirmer, CEO of BBS

Corporation in Spartanburg, continues to advance engineering technology though his Spartanburg polymer extrusion research laboratory. Hank is internationally known for his creative solutions and his scientific insights into new products and new polymer extrusion systems. His distinguished career in engineering is reflected in a stunning 102 U.S. patents (and counting), the most recent three awarded to his own firm, BBS. His technical advances were foundational to the packaging division of Sealed Air, with an estimated $1.6 billion in annual sales stemming from his inventions during his tenures in Massachusetts and Duncan, S.C. He is a member of the Sealed Air Inventor Hall of Fame, a Society of Plastics Engineers Fellow, and in 1998 was a winner of one of R&D Magazine Top 100 awards (known as “the Oscars of Innovation”). Schirmer “retired” from Cryovac Inc. (now Sealed Air) approximately 18 years ago as the director of new technology. Instead of resting, fishing or spending more time watching stars at his home observatory, he immediately applied his zeal for invention toward building his own company, BBS Corp. in Spartanburg. Although a few years past his 80th birthday, he puts in long hours daily, advancing extrusion technologies, and continuing to invent and patent systems that are exported around the globe. Two recent examples include research into inexpensive “disposable” (modular disk die)

DR. CHARLES TOWNES LIFETIME ACHIEVEMENT AWARD Honors an individual who exhibits an exceptional commitment to the advancement of technology or the community through his or her contributions to technology. Such contributions may be business, civic or educational in nature and must benefit South Carolina communities.

Henry “Hank” Schirmer at his BBS laboratory in Spartanburg.

Schirmer demonstrating BBS technology in China.

BBS’s microlayer blown film die.

multilayer polymer extrusion dies and his research into nano-layered films, produced from his novel Layer Sequence Repeater equipment, providing 25 nano-layers. He continues to provide technology updates at technical conferences, such as the Society of Plastics Engineers, where he is a frequent invited speaker. BBS has a current partnership with Jin Ming North America and Alpha Marathon (Canada), and has recently tested its technologies with Bollore (France) and the U.S. Department of Defense. Schirmer has traveled to China to

demonstrate a commercial-scale line. At his acceptance speech in November for the 2013 Charles Townes Lifetime Achievement Award, the highest honor given at the InnoVision Technology Awards, Schirmer remarked that he has always liked to tinker, citing a boyhood example of making his own “cat’s whisker” radio for his room. “It was free radio, since no power source is required,” he said. Schirmer never lost his passion for curiosity and continued his strong interest in invention and innovation throughout his careers with Johnson & Johnson, W.R. Grace and Cryovac. He said that when he took his first job at J&J, he just continued to do what he has always been driven to do, invent. “I just could not believe that I was actually going to be paid to play,” he said. In his additional remarks at the awards banquet, Hank affirmed his intent to continue pushing technology forward, saying, “my laboratory is like a kid’s sandbox for an old man.” He joked that he will probably be inventing until he falls over; he just loves it. Blaine Childress is a longtime advisory board member of the InnoVision Awards. He is a member of Sealed Air Corporation’s R&D technology scouting team. Sealed Air Corporation is the sponsor of the Sustainability Award for the InnoVision Awards.

December 20, 2013

UPSTATE BUSINESS JOURNAL

9


UBJ SQUARE FEET

One Research Drive Plans Kick Off at CU-ICAR By Sherry Jackson | staff | sjackson@communityjournals.com

The Clemson University International Center for Automotive Research (CU-ICAR) has announced plans to move forward with design and construction on One Research Drive. The four-story, multi-tenant, class-A space will be constructed to LEED silver standards and will be the sixth and final building in Technology Neighborhood I, located adjacent to the BMW Information Technology Resource Center. Fred Cartwright, CU-ICAR executive director, said that while plans for the building have been known for “quite awhile” and have been on the CU-ICAR website, the universi-

ty has decided it is time to “kick off the more formal process to design the building and complete this neighborhood.” Cartwright says the center for emerging technologies that was recently completed filled up very quickly and if a company came today looking to locate at CU-ICAR, “we just don’t have any space available.” The new facility will also house classroom and laboratory space for the Clemson University Department of Automotive Engineering. The academic program has “grown and exceeded our expectations,” said Cartwright. While no tenants have been named

outside the university, Cartwright says they have “pretty good prospects” lined up to move forward with the construction. Tenants are expected to

be in the automotive industry. The final design process is kicking off now and Cartwright hopes to “open the doors” in 2016.

DEALMAKERS CUSHMAN & WAKEFIELD | THALHIMER ANNOUNCED: Brian J. Young handled the lease negotiations for Phillips Pet Food and Supply in leasing 40,000 SF at 113

10

Belton Drive, Spartanburg. LEE & ASSOCIATESGREENVILLE ANNOUNCED: Randall Bentley recently represented the landlord in leasing a +/-15,000

UPSTATE BUSINESS JOURNAL

SF industrial space at 121 McDougall Court in Mauldin to Graebel, a moving and storage company. Randall Bentley recently represented the landlord in

December 20, 2013

leasing a +/-2,295 SF office at 12 Maple Tree Court in Greenville to Apex Systems, Inc. SPECTRUM COMMERCIAL PROPERTIES ANNOUNCED: Jack Snedigar recently

represented KentWool Development in an office lease extension agreement at the Historic Chamber of Commerce Building at 135 S. Main St., Greenville, with Community Options.


UBJ SQUARE FEET

New Primrose School Breaks Ground By Sherry Jackson | staff | sjackson@communityjournals.com

We can answer any controller or comptroller question. The new school will have 11 classrooms, multiple playgrounds and sports courts for basketball, baseball and hopscotch. In keeping with the educational focus, there will be an on-site garden area to teach kids about growing their own plants and vegetables. “We are excited to bring the Primrose educational child care experience, its unparalleled curriculum and unique culture to South Carolina and the Greenville community,” said Briles. The new school will teach children values and how to be good citizens. Even the youngest children will be taught sign language and Spanish as part of the normal curriculum. The school will be open from 6:30 a.m. until 6:30 p.m. Monday through Friday. Attendees will range from sixweek-old infants to age five attending the schools kindergarten and up to age 12 participating in after-school programs.

For example, what’s the difference between a controller and a comptroller?

864.908.3062 • atlocke.com 13ATL 7594

Primrose School of Greenville had its groundbreaking ceremony last week at its future location at 404 Houston St., off South Church Street in downtown Greenville. Mayor Knox White, Mayor Pro Tem David Sudduth, Hank Hyatt with the Greenville Chamber and others were on hand for the ceremonious shoveling of the dirt. The $3 million project is expected to create 28 new jobs in the community. White said it’s great to have an entrepreneur like Primrose School owner Lauren Briles in the community. “We know that young families will make a decision to live in this city because of this school,” said White. The private preschool and after-school care school will be approximately 11,700 square feet and plans to open early summer 2014. Briles says she “is very excited to bring the Primrose concept to Greenville. There are so many programs that are currently wait-listed in downtown Greenville and this will offer much-needed relief for dual-working parents.” Briles thanked her parents who, as she quipped, “are risking their retirement” by providing some of the funding for the new school. Primrose Schools were founded in Marietta, Ga., by Paul and Marcy Erwin who “revolutionized the concept of child care, making education the key component of its curriculum in an era when all-play and nothing-but-play” was the accepted norm. The team franchised the concept and there are currently 250 Primrose Schools in 17 states.

December 20, 2013

UPSTATE BUSINESS JOURNAL

11


UBJ GUEST COLUMN

By ED PARRIS

‘People Planning’ Essential to Realizing Benefits of Mergers, Acquisitions Frequently, a merger or acquisition is undertaken to deepen talent pools, grow market share, acquire intellectual property, or gain efficiencies. Whatever the reason, one certainty you can bank on is change. And as the process unfolds, addressing human resource issues is essential in realizing the intended benefits of coming together. To create a better experience for all involved, early involvement by human resources leadership on both sides of the transaction can address challenges that arise as the process unfolds. Whether addressing culture changes, employee concerns, new roles, or integrating incompatible

Start With a Plan Address Employee Concerns “The earlier you By creating an integration plan, The fear of the unfamiliar inherent can communicate management can better evaluate and in a merger causes uncertainty for emyour intentions to understand the incoming employee ployees (and their families). And population and how all players fit sharing information can be a challenge: employees and the faster you can expedite together in the combined organiza- Certain elements must be kept under tion. wraps, but openness is essential to a well-thought-out For example, certain key employees creating transparency and trust, notes process, the quicker may warrant special retention efforts, Doug Newton, senior vice president of you can put anxiety while understanding the talents, roles human resources with Techtronic Inand compensation packages of new dustries North America and a veteran to rest.” employees is critical to keeping asso- of at least five corporate acquisitions. Doug Newton, senior vice president of human resources with Techtronic Industries North America

benefits plans, proactive planning helps your organization obtain the full benefits of joining forces.

ciates engaged and committed to the new organization. A well-planned process can have enormous influence on employee motivation, morale and respect for both employer and colleagues.

“The earlier you can communicate your intentions to employees and the faster you can expedite a wellthought-out process, the quicker you can put anxiety to rest,” says Newton. “It’s far better to allay employee >>


>>

fears through frequent, respectful, open communications and by directly addressing questions on how the initiative will impact each of them individually. Addressing rumors about layoffs, lines of reporting or benefit plan changes quickly helps to ensure that productivity and morale remain high.”

Bridge the Two Cultures

When two companies become one, merging cultures is often challenging. An extensively reported example was how Daimler’s formal culture never was able to effectively mesh with Chrysler’s free-flowing style – crippling their merger. Don’t underestimate the importance of understanding the differences in management styles of how two organizations handle problems. Handling of benefits like personal time can vary widely, as might how the organizations reward initiative. To keep employees excited, involve associates from both organizations in your integration process. By embracing their input, you gain enhanced engagement and trust.

Roles and Structure Often Change

When one company merges with another, change to both organizations usually results. Whether you are combining departments or eliminating redundant positions, altering job descriptions or adjusting lines of reporting, skilled HR professionals make sure that everyone understands his or her role in the newly altered organization. HR can also work to ensure that there is a connection between the leadership teams of both organizations, and that there are no internal “turf” issues being created that will cause the business to suffer later.

Dealing With Downsizing – or Upsizing

Most mergers offer opportunity to trim duplicated functions in staff to realize cost savings from combined organizations. Such downsizing activity should be done fairly and with sensitivity, notes Ron Grant, president of Greenville, S.C.-based Meridian Resources Inc., a national career counseling and outplacement firm. “To avoid drops in productivity or morale and to keep workflow

and customer service at high levels, we advocate that clients pay particular attention to internal and external communications, to treating every associate with respect, and to being candid about what changes associates can expect,” Grant notes. When team reductions are necessary, remaining employees often struggle when asked to assume new responsibilities as operations are reconfigured. Yet combining companies can also lead to rapid expansion of workforce. In such a case, the growth brings the challenges of not only integrating merger partners but adding the need to onboard new associates unfamiliar with either organization’s ways or culture. In both instances, HR professionals can play a vital role in building and sustaining morale and productivity.

Dedicate Sufficient Time and Resources

Understanding how much time and resources are required to complete a successful integration of companies is almost always underestimated. To be successful in your merger or ac-

quisition, dedicate time and talent to the process who understand the complexities and dynamics of merging organizations, who can execute in tight timeframes, are experienced dealing with sudden change and unexpected challenges, and who have a knack for solving problems effectively and quickly. Whatever your reason for merging, acquiring or being acquired, the surest way to a successful combination is by conducting thorough due diligence. And while financial and operational issues tend to rise to the top in such explorations, addressing “people issues” is paramount to realizing the full benefits of joining forces.

Ed Parris is president of Phillips Staffing. Founded in 1968, Phillips Staffing provides staffing and productivity solutions, professional placement, payroll management and HR consulting solutions and services to organizations across the Southeast from 10 offices in South Carolina and Georgia. For information, visit PhillipsStaffing.com.


GREENVILLE’S

CASSEROLE

QUEEN Kendrick’s food delivery service is Good to Go

C

By Leigh Savage | contributor lsavage@communityjournals.com

CAMERON KENDRICK MADE HER FIRST cheesecake – with no recipe – at age 14. Cooking became her passion, and though she spent 15 years working in Atlanta real estate, she was just waiting for the right time to switch careers. “I’ve always known that if I could have a business involving food, I would be thrilled,” she said. After getting married and moving to Greenville in June, she made that dream a reality with the October launch of Good to Go, a delivery-based business offering frozen appetizers, casseroles, sides, soups and desserts, wrapped and tagged with heating instructions. In just 45 days, she’s seen growth beyond her expectations, with customers raving about the dishes and the convenience of having frozen items delivered to new neighbors, sick friends and, of course, themselves. “I can take the work out of it for people, and it’s fun for me,” she said. “I just love feeding people.”

How did Good to Go get its start?

It started two years ago in Atlanta. I was working full-time, but I always made casseroles, dips, appetizers. I kept noticing people asking me, “Can I take your corn dip to a party? Can you whip up your chicken-and-rice casserole?” It occurred to me I could do this and make

14

UPSTATE BUSINESS JOURNAL

December 20, 2013

Good to Go’s Cameron Kendrick with her 9-year-old daughter, Piper.

GREG BECKNER / STAFF

“I’ve always known that if I could have a business involving food, I would be thrilled. It occurred to me I could do this and make some money doing it.” Cameron Kendrick, owner of Good to Go

some money doing it. Since I was working, I had to figure out a way to prepare and sell the food without being in the kitchen all day. I made some things and put them in a freezer, but I didn’t know if it would work. I sold out of everything and it just grew from there.

Did you deliver in Atlanta?

I had a house with a carport, and I would stuff 120 to 150 items in the freezer every week tagged with pricing. People would come and use it as a retail shop, write down what they took and put money in the box. Some people would take 25 or 30 casseroles at once. It was on the honor system. Since I moved here I don’t have a carport, so I can’t have the freezer. I am >>


>> not working in real estate and I’m doing this full time, so I’m doing delivery and it seems to be working well. People can leave a cooler outside if they aren’t home. I’ll deliver for free within five miles of downtown, and I’ll deliver anywhere – I just ask that the order be more than $50 if it’s outside the downtown area. I won’t drive to Lake Hartwell every day, but my 9-year-old, Piper, is my assistant and we are happy to make deliveries.

What are your top sellers?

The chicken-and-wild-rice casserole is the most popular item. It’s comforting and has that Southern feel, but also includes fresh Parmesan and sautéed vegetables. All of the dips are very popular for tailgates. The Brunswick stew is a big seller and the chili won first place at a cook-off. One thing I’ve noticed in Greenville is the demand for healthier items. People are concerned with their health and are feeding their kids things that are more health-centered. The Paleo Lasagna, made with sheets of zucchini instead of pasta, has been a big seller, along with the spaghetti squash au gratin.

Do you find more customers are buying as gifts for others or for their own families?

I’d say both sides get about the same number of customers. People buying for themselves buy more, maybe eight or 10 casseroles and that’s their food for the week. I had one lady in Atlanta who would even bring me her dishes and I would cook the casseroles in them so it looked like she made them! Gifts are usually smaller orders, one or two items. These can be custom-wrapped for game day, for a friend in need, or It’s a Boy or Girl. I recently delivered to a woman with cancer and she was so appreciative. It was purchased for her by a friend, and I got so much satisfaction out of taking her the food. Meals delivered by Good to Go.

GOOD EATS FOR PEOPLE ON THE GO! Samples of some of the made-from-scratch casseroles, sides, appetizers, and desserts. APPETIZERS Jalapeno Popper Dip Spinach & Artichoke Dip Buffalo Chicken Dip Creamy Holiday Beef Dip Parmesan Thyme Crackers Creamy Bacon Ranch Dip BREAD AND ROLLS Killer Garlic Bread Cheddar Dill Rolls Ham & Swiss Rolls VEGETABLES Green Beans with Shallots Bourbon Mashed Sweet Potatoes Creamy Corn Casserole Broccoli Cheese Casserole Macaroni & Cheese Squash Casserole Mashed Potatoes

Who has influenced you as you build your business?

HOMEMADE SOUPS Three Bean Beef Chili Chicken Noodle Cream of Mushroom Creamy Broccoli Brunswick Stew Creamy Potato Cheese Butternut Squash PAN CASSEROLES Poppy Seed Chicken Chicken Spaghetti Chicken Pot Pie Chicken and Wild Rice Casserole Sour Cream Noodle Bake Lasagna Eggplant Orzo Taco Bake King Ranch Macaroni & Cheese Beef Stroganoff

I was raised by a single mom and she has been a big influence. She’s a developer and a sales and marketing consultant for builders. She has a great

LOW CARB CORNER Paleo Lasagna Raw Power Balls Spaghetti Squash Au Gratin BREAKFAST Cinnamon Rolls Seasonal Muffins Grits Casserole Farmers Casserole NYC Brunch Casserole DESSERTS Banana Bread Outrageous Lemon Cake Peanut Butter Pie

business mind. … I get carried away with the creative side, especially with cooking. I would do it for free. She’s been helpful with ordering and telling me how much to price things. She never enjoyed cooking and I don’t think she’ll mind me saying she is not very good at it – we ate a lot of pizza growing up.

What are your plans for Good to Go?

What I would like to happen is to have a freezer stocked with most of what’s on the menu. People can see what’s available and place an order. I want to come up with a schedule, maybe deliver to North Main on Tuesdays, Augusta Road on Thursdays. If growth continues the way I hope, I’ll switch from my home to a commercial kitchen and I’ll probably hire someone to help with food prep. I really enjoy the deliveries but I might end up needing help with that.

How can people find out more?

They can call 770-366-1915, but the best way is the Facebook page (facebook.com/goodtogoGVL). They can see the menu, pictures of the food, delivery dates, seasonal specials. Right now I’m running a new customer special, and I’ll be making my grandmother’s famous rum cake through the month of December.

UPSTATE BUSINESS JOURNAL

15


A COVER STORY

WHO’S

S.C. had big M&A moves in 2013 and on the horizon By Jennifer Oladipo | senior business writer | joladipo@communityjournals.com

A look back at the world of mergers and acquisition this year shows M&A activity on the rise after a few years of less activity. Conditions are better than they’ve been in a long time for making big moves that can change the game for a business or even an entire industry. Companies in the Upstate and other parts of the state took advantage of the friendly environment, but overall South Carolina could do better at making acquisitions part of a growth strategy. SLOW START

Uncertainty about possible tax law changes led to a push in M&A activity at the end of 2012. That led this year off to a slow start. In general, the M&A market was down 20 percent in the first half of the year when compared with 2012, and Southeastern states mirrored that trend. Just three of the 24 deals in South Carolina valued at $10 million or more occurred in the first half of the year. The full picture will be available next month. Industries that are more insulated from political and

“There’s a little bit of a culture here of growing your company and then selling it and you’ve hit a home run.” Hagan Rogers with Watermark Advisors

16

MERGING, BUYING, SELLING?

economic instability saw more action. The top five this year were technology, industrial, energy, health care and consumer goods. Valuations have increased, and that’s a positive for sellers, said Hagan Rogers with Watermark Advisors, an investment banking and advisory firm.

SELLING OUT South Carolina sold more companies than it bought this year. That’s not uncommon, said Rogers, but it’s not ideal. When ownership leaves the state, so does the capital that had been flowing through the local economy. Of course, the reverse is also true. He said the biggest barrier to companies growing and staying in the state is more cultural than financial. “I think that’s one of the cultural shifts we want to see in South Carolina,” Rogers said. “There’s a little bit of a culture here of growing your company and then selling >>

UPSTATE BUSINESS JOURNAL

December 20, 2013


NOTABLE UPSTATE ACQUISITIONS OF 2013

>>

it and you’ve hit a home run.” He said companies commonly consider selling when they have reached $20 to $30 million in revenues. That is an admirable and hard-to-achieve accomplishment, “but why not take your company to the next level?” Rogers said.

• SYNNEX Corporation, business services (Greenville), bought IBM’s customer care division for about $505 million in cash and stock.

LESS M THAN A Although we talk of mergers and acquisitions, true mergers of equal partners are rare. In reality, somebody’s buying and somebody’s selling. That’s one interesting thing about M&A,” said Henry Gallivan, mergers and acquisitions and corporate finance attorney with Smith Moore Leatherwood. “There are so many things to look at based on how the company operates. You hope that you won’t find anything, but often if you dig enough you’ll find something that merits much more attention from both sides.” Stock deals can be less complicated, but asset deals can have compli-

cations. What’s more, many companies in this market are smaller, privately held companies with their own accounting practices, requiring extra scrutiny.

FERTILE GROUND “From our experience, this year has been a better year for M&A activity than the last couple of years,” said Gallivan. Gallivan said business owners at companies of all sizes are expressing more optimism. A general feeling that volatile political issues like the debt ceiling are getting under control, and

➤ TBA THE NUMBERS: THE YEAR IN MERGERS & ACQUISITIONS THE YEAR IN M&A FOR SOUTH CAROLINA Companies Acquired

Companies Sold 49

33 17 7 SC Upstate

SC Upstate

THE YEAR IN M&A IN THE SOUTHEAST: 30%

30%

$10-$100M

above $100M

TOP 5 SECTORS – NATIONALLY: Technology Energy Healthcare Consumer Goods Industrial

40%

of deals had deal value of $10M or less

– GA, NC, FL most active markets in the Southeast

continued low interest rates make for a prime atmosphere for M&A activity. And even though they are being very diligent about what kind of risks they will take, banks are more willing to lend, Gallivan said. Rogers said this year’s deals have shown banks requiring more private equity to make a deal happen – a little more than half of the price. Still, money remains relatively cheap at the moment, and a shortage of great companies in the market has banks actively looking. A solid company with a bright future will have no problem finding a buyer, the experts say.

GETTING IN THE GAME South Carolina lagged in such activity this year compared to its neighbors. The state is literally surrounded by M&A action with Georgia, Florida and North Carolina being the most active markets in the Southeast, according to Watermark’s analysis from multiple data sources. But that doesn’t mean there’s nothing happening. S.C. investors have begun reaching out as far as the North Dakota’s Bakken oil field, where Rogers said his firm helped 20 Upstate investors get in the oil game with with a stake in Colorado-based Coachman Energy. “Reaching out into S.C. to finance growth of drilling in the Bakkens, I think that’s new. We’ve never seen the oil industry reach into S.C. in this way,” he said. In these last few weeks of 2013, the business of buying and selling business continues, and a few more announcements next week would not be surprising. Experts are expecting favorable conditions to continue into 2014, which perhaps will be the year for South Carolina to really get into the game.

December 20, 2013

• Delta Apparel (Greenville) subsidiary To The Game LLC acquired Salt Life Holdings LLC for more than $37 million.

• 3D Systems Corp (Rock Hill) acquired Geomagic Inc. (Morrisville, N.C.) in a transaction valued at $55 million; CRDM Ltd. (Bucks, England) rapid prototyping rapid tooling; among other acquisitions this year.

• CertusBank (Greenville) acquired the failed Parkway Bank (Lenoir, N.C.). Parkway had about $109 million in assets. • Martex Fiber Southern Corp. (Spartanburg) acquired recycledfiber manufacturer JBM Fibers (Brownsville, Texas).

• Exopack (Spartanburg) merged with four European companies to form Coveris, with aggregate revenues of more than $2.5 billion.

UPSTATE BUSINESS JOURNAL

17


New hires, promotions & award winners can be featured in On The Move. Send information & photos to onthemove@upstatebusinessjournal.com.

UBJ ON THE MOVE APPOINTED

HIRED

PROMOTED

Professionals’ Upstate Philanthropic Achievement of the Year Award after being nominated by Miracle Hill Ministries and The Family Effect for his support through his foundation, Chris & Kelly’s HOPE Foundation.

Greg Chasteen

Ron Kass

Chosen to serve on the new American Arbitration Association (AAA) Appellate Panel. Parr is an attorney at Wyche and also serves on the AAA’s complex case panel as well as its panel for the International Center for Dispute Resolution. He has more than 30 years of experience representing clients.

Joined O’Neal Inc. as structural department head. Chasteen has more than 25 years of structural engineering and management experience, having worked with Fluor Corporation, Steven & Wilkinson, and Design Strategies. He obtained his Bachelor of Science in civil engineering from the University of South Carolina.

Promoted to president and chief operating officer of Hunter Douglas North America. Kass, who first joined Hunter Douglas in 2005, currently serves as president of both the Hunter Douglas Design Products Group and the Independent Fabricator Group of companies and as executive vice president of marketing.

CONSTRUCTION/ ENGINEERING:

EDUCATION:

rector of Lench Films in Boston and Chattanooga, Tenn. Kalbarczyk spent three years as social media analyst at Samsung Electronics in Greenville.

O’Neal Inc. recently hired Ed West as project delivery services manager. West has over 25 years of management experience in the construction industry, having previously worked with ITW, Sodexho and Yeargin Potter Shackelford.

Furman University recently welcomed Taylor de Lench and Jessica Kalbarczyk to its Office of Marketing and Public Relations. De Lench is assistant director of Web marketing and videographer, and Kalbarczyk is Web content and social media communications strategist. De Lench was previously di-

FINANCIAL SERVICES: Northwestern Mutual financial representative Stephen Grant received the Association of Fundraising

NONPROFIT:

Rosenfeld Einstein recently named Courtney Warren as a consultant and Angie Wilson as an assistant account manager in the firm’s property and casualty division. Warren joins Rosenfeld Einstein with more than four years of experience in commercial insurance sales, service and consulting. Wilson joins Rosenfeld Einstein with more than a decade of experience in the insurance industry, and has worked with clients on their personal and commercial insurance and risk-management requirements.

Ten at the Top recently announced its officers for 2014-2015: Chair Carol Burdette, chief professional officer, United Way of Anderson County; First Vice Chair Hank McCullough, senior manager – government relations, Piedmont Natural Gas; Second Vice Chair Sue Schneider, general manager, Spartanburg Water; Secretary Lisa Jones, publisher, GSA Business; Treasurer Erwin Maddrey, CEO, Maddrey & Associates; Development Co-Chairs Sam Erwin, president/CEO, The Palmetto Bank; and Terence Roberts, Mayor, City of Anderson; and Immediate Past Chair Neal Workman, chairman, Trehel Corporation.

MEDICAL:

RETAIL:

Hospice of the Upstate recently welcomed Lisa Fleming, RN MBA, as the new director of Rainey Hospice House. Fleming received her undergraduate

ProSource recently named Tiffany Ladd as a sales consultant in its Greenville showroom. Ladd joined ProSource after more than 14 years in the banking industry.

INSURANCE:

Henry Parr

degree in nursing from Lander University and her Masters of Business from University of Phoenix.

Happy Holidays from our offices in Anderson, Greenville and Spartanburg.

Commercial Real Estate Services, Worldwide.

18

UPSTATE BUSINESS JOURNAL

December 20, 2013


UBJ NEW TO THE STREET 1

2

1. Marmalade recently held a ribbon-cutting at 906 W. Poinsett St. in Greer. Marmalade is a full-service breakfast and lunch restaurant. For more

3

information, visit marmaladeofgreer.com or call 864-201-3485. 2.For Every Woman recently cut the ribbon at 90 Orchard Park Drive in Greenville. They are open Monday-Friday 9 a.m.-5 p.m. For more information, visit facebook.com/foreverywomangvl or call 864-663-8049. 3. Pure on Main recently opened at 233 N. Main St., Unit 105, in Greenville. The wellness center is open Monday-Saturday 10 a.m.-6 p.m.

1

N. Main St.

de Wa W.

d. Blv ton p Ham

Memori al Dr.

For more information, visit pureonmain.com or call 864-991-2726.

W. Poinsett St.

Hu ds on

Bren dan W ay

Bea ttie

Pl.

h rc hu C N.

. St

.E Rd . xt

S. M ain St.

n ai nt ou M

d oo ew t Pa

. Dr

S. Ac ade my St.

E. N orth St.

Dr. ood ew t a P

2

N. A cade my S t.

N. M ain S t.

N. Line St.

3

r pe Ro

Haywood Rd.

I-38 5

Pa rk Dr .

Col lege St.

Rd .

. Pelham Rd Or ch ard

St. be om nc Bu

Pe nn syl van ia Av e.

December 20, 2013

E. W ashi ngto n

St.

UPSTATE BUSINESS JOURNAL

19


UBJ THE FINE PRINT SCRA Applied R&D Wins Follow-On Contract SCRA Applied R&D’s “BeAccessible” program was recently awarded a $1 million follow-on contract. The program, in its fourth year of a fiveyear award, will provide technical assistance to help the federal government comply with Section 508 of the Rehabilitation Act and it will further expand previous contracts with a similar mission, “BuyAccessible.” SCRA will continue to partner with Jacobs Technologies and Harolynn Inc. in providing technical support to the General Services Administration (GSA). In 2000, the U.S. Congress amended the Rehabilitation Act of 1973 mandating that all Electronic

and Information Technology (EIT) products and services that are “developed, procured, maintained or used” by the federal government be accessible to persons with disabilities. The BeAccessible program will assist in enhancing compliance with the law by providing tools and technical expertise that will ensure persons with disabilities are able to access all EIT products and services used by the federal government.

Trimite Powders Invests $3.7 Million to Double Operations Trimite Powders Inc., a powder-coating manufacturer, recently announced a $3.7 million investment to double the size of its current operations at 5680 N. Blackstock Road in Spartanburg County. The expansion, which is being done by Roebuck Buildings Co., will allow the company to expand into a variety of markets and is slated for completion in January. However, the expansion is not expected to generate any jobs directly, but will allow the facility to “capitalize

20

on increased demand for our products and prepares us for the next stage of our growth plan,” said Trimite Powders Inc. president Dean Edwards in a release. Located in Spartanburg County for more than two decades, Trimite Powders manufactures powder coatings for refrigeration, cash machines, lighting, industrial motors, home furniture and other purposes. Trimite Ltd. was founded in 1945 in the United Kingdom and expanded to Spartanburg in 1991.

UPSTATE BUSINESS JOURNAL

December 20, 2013

The Arts Company Changes Ownership, Location The Arts Company, a by artists Marcia Langston 19-year-old Upstate busiand Terry Culbreath. In ness featuring local art 2003, it was purchased by and works from around Warren and Adelaide Carthe U.S. and Canada, inpenter, who sold it to Julia cluding pottery to woodHoyle this year. The move working to jewelry, recentto Woodruff Road gave ly changed owners. New the retailer a larger storeowner Julia Hoyle also front with parking nearby. relocated the business The Arts Company is from Haywood Mall to Hoyle’s first retail venture Julia Hoyle, new owner Woodruff Road beside after working in workforce of The Arts Company. Staples. The Arts development and Company was opened in 1994 in Seneca small-business mentoring.

GADC Changes Industry Focus The Greenville Area Development Corporation (GADC) is adding new focus areas after a commissioned study uncovered weaknesses in its manufacturing-heavy emphasis. The resulting changes will set the pace for the next several years at the economic development organization. The target industry analysis found that the industries GADC has been targeting have all been within manufacturing, and suggested diversification in order to protect from future downturn. Among recommended new targets were IT-related industries and financial services. Significant challenges include lack of industrial and office space and office initiatives. GADC interim president Kevin Landmesser said the board approved the new direction this month and has now set to the task of planning how the expansion will happen. The study was conducted by Carmel, Ind.-based Applied Marketing and Elkin, N.C.-based Creative Economic Development Consulting.

GADC New Target Industries: Automotive Aviation/Aerospace Advanced Materials Bioscience Office (HQs, Engineering, Finance, IT) Data Centers Distribution/Logistics


UBJ THE FINE PRINT

3 WAYS TO CONNECT:

1. PRINT

Cushman & Wakefield Moves to Wells Fargo Center Cushman & Wakefield | Thalhimer is relocating to the Wells Fargo Center at 15 S. Main St. in downtown Greenville effective Dec. 19, the commercial real estate firm announced this week. The move was to accommodate future growth while remaining within the central business district, the company said in a statement, citing access to hotels and restaurants for clients and business associates who travel to Greenville. “This expansion will allow Cushman & Wakefield | Thalhimer to continue to grow and meet the demands of our expanding client base,” said Brian Young, managing partner, in the press release. “We desired to remain in the CBD, and create an office environment that encourages collaboration among our employees.”

Since 2012, the firm has hired six new associates, which more than doubled the size of the office that previously served the market. The 195,000-square-foot Wells Fargo Center is being redeveloped by FRI Management. The renovations will provide amenities such as upgraded lobbies, restroom facilities and a fitness center with showers for the building’s tenants allowing for a better “workplay” environment, according to the release.  Charlie Whitmire and Brad Harvey represented Cushman & Wakefield | Thalhimer in the lease of the office space. In addition to the Greenville office, Cushman & Wakefield | Thalhimier has offices in Charleston, Charlotte and Raleigh, as well as six offices in Virginia.

2. MOBILE

3. ONLINE

When you are done reading this paper, please recycle it.

www.UpstateBusinessJournal.com

For print subscription and email subscription to the “In Box.” Stay up to date with the business of the Upstate. December 20, 2013

UPSTATE BUSINESS JOURNAL

21


UBJ PLANNER FRIDAY DECEMBER 20 NORTH GREENVILLE ROTARY CLUB The Poinsett Club, 807 E. Washington

St., Greenville; 12:30-1:30 p.m. CONTACT: Shannon Harvey at 864-228-2122 or shannonharvey@ allstate.com

TUESDAY DECEMBER 24 GREENVILLE (DOWNTOWN) ROTARY MEETING Westin Poinsett Hotel, 120 S. Main St., Greenville; noon

manufacturer to attend and includes lunch.

FOR INFORMATION: greenvillerotary.org

NORTH GREENVILLE ROTARY CLUB

FRIDAY DECEMBER 27 NORTH GREENVILLE ROTARY CLUB

The Poinsett Club, 807 E. Washington St., Greenville; 12:30-1:30 p.m.

The Poinsett Club, 807 E. Washington St., Greenville; 12:30-1:30 p.m. CONTACT: Shannon Harvey at 864228-2122 or shannonharvey@ allstate.com

THURSDAY JANUARY 2

CONTACT: Shannon Harvey at 864-228-2122 or shannonharvey@ allstate.com

WEDNESDAY JANUARY 8 PELHAM POWER Greenville Office Supply, 310 E. Frontage Road, Greer; 8-9 a.m. COST: Free for Greer Chamber members REGISTER AT: greerchamber.com

GCS TOASTMASTER TD Convention Center, 1 Exposition Drive, Greenville; noon-1 p.m. CONTACT: Ann or Myles Golden at agolden@ goldencareerstrategies. com or myles@ goldencareerstrategies. com

FRIDAY JANUARY 3

SENIOR BUSINESS WRITER Jennifer Oladipo STAFF WRITERS Sherry Jackson, Cindy Landrum, April A. Morris PRESIDENT/PUBLISHER Mark B. Johnston mjohnston@communityjournals.com

CONTRIBUTING WRITERS Jenny Munro, Jeanne Putnam, Leigh Savage

UBJ ASSOCIATE PUBLISHER Ryan L. Johnston rjohnston@communityjournals.com

PHOTOGRAPHER Greg Beckner

EXECUTIVE EDITOR Susan Clary Simmons ssimmons@communityjournals.com MANAGING EDITOR Jerry Salley jsalley@communityjournals.com

22

ART & PRODUCTION ART DIRECTOR Kristy M. Adair PRODUCTION MANAGER Holly Hardin ADVERTISING DESIGN Michael Allen, Whitney Fincannon

UPSTATE BUSINESS JOURNAL

December 20, 2013

2014 MANUFACTURERS ROUNDTABLE Greenville Chamber of Commerce, 24 Cleveland St., Greenville; 12:30-1:30 p.m. TOPIC: Talent Recruitment, Retention, and Development COST: Free for Greenville Chamber members, $15 for guests. Must be a

MARKETING & ADVERTISING SALES REPRESENTATIVES Lori Burney, Kristin Hill, Kristi Jennings, Donna Johnston, Annie Langston, Pam Putman MARKETING & EVENTS Kate Banner DIGITAL STRATEGIST Emily Price

Copyright @2013 BY COMMUNITY JOURNALS LLC. All rights reserved. Upstate Business Journal is published weekly by Community Journals LLC. P.O. Box 2266, Greenville, South Carolina, 29602. Upstate Business Journal is a free publication. Annual subscriptions (52 issues) can be purchased for $65. Postmaster: Send address changes to Upstate Business, P.O. Box 2266, Greenville, SC 29602. Printed in the USA.

CONTACT: Darlene Parker at 864-239-3706 REGISTER AT: greenvillechamber.org

FRIDAY JANUARY 10 FIRST FRIDAY LUNCHEON Greer City Hall, 301 E. Poinsett St., Greer; 11:30 a.m.-1 p.m. COST: $10 for Greer Chamber members; $15 for non-members CONTACT: Katie Witherspoon at katie@ greerchamber.com REGISTER AT: greerchamber.com

GOT A HOT DATE? Contribute to our Planner by submitting event information for consideration to events@ upstatebusiness journal.com

HOW TO CONTRIBUTE STORY IDEAS: ideas@ upstatebusinessjournal.com

EVENTS: events@ upstatebusinessjournal.com

NEW HIRES, PROMOTIONS, AWARDS: onthemove@ upstatebusinessjournal.com


UBJ SNAPSHOT

Historic photo available from the Greenville Historical Society. Two architects participated in the design of Greenville’s new courthouse in the first decade of the 20th century: Thornton Mayre of Atlanta and Greenville architect H. Olin Jones. Mayre was one of the architects of Atlanta’s Fox Theater. The contractor for the cream-brick building was the firm of J.A. Jones from Charlotte. On the right in this photo, the Mansion House is seen in its last days. The completion of the Ottaray Hotel in 1909 doomed the aging hostelry. After the hotel closed in 1910, the building was renamed the Swandale Building and adapted for stores and offices.

Design Strategies was responsible for the extensive renovation in 2002-2003 of the 1917 structure and is currently located in the historic structure.

By 1924 The Mansion House was demolished to make way for a new hotel, the Poinsett Hotel, completed in 1925. The Poinsett still remains, as does the 1917 courthouse. After the construction of a new courthouse on East North Street in the 1950s, the old courthouse housed many county offices and the Museum of Art. Later it became abandoned and derelict. By the beginning of the 21st century it was regarded as the most historic public building still standing on Main Street. Fortunately, by this time, Greenville’s leaders had become aware of what had already been lost. CURRENT PHOTOS BY GREG BECKNER / STAFF

Supporting the Upstate in a whole new way. A land-use program committed to the legacy of carefully considered, responsible, sustainable, and environmentally sensative growth and development.

Learn more...www.GSP360BeyondtheRunway.com December 20, 2013

UPSTATE BUSINESS JOURNAL

23


Dream bigger. We’re the leading South Carolina-based SBA lender, ready to help you grow your business. Let us help you make your dreams for your small business a reality.

CertusBank.com/SBA CertusBank, N.A. Member FDIC.

Equal Housing Lender Š 2013 CertusHoldings, Inc. All rights reserved. CertusBank, N.A. is a trademark of CertusHoldings, Inc.

Dec 20, 2013 UBJ  

Upstate Business Journal published for the Upstate of South Carolina by Community Journals LLC in Greenville, SC.

Read more
Read more
Similar to
Popular now
Just for you