Business

Stock Building Supply completes merger with BMC

December 2, 2015

(The News & Observer, Raleigh)

Stock Building Supply completed its merger with privately held Building Materials Holding, based in Atlanta. The combined company posted $2.6 billion in revenue last year. BMC Stock Holdings will be headquartered in Atlanta, though its main operating center will be in Raleigh.

Charlotte Chamber to focus on passing bonds, working with Raleigh

December 2, 2015

(The Charlotte Observer)

Ned Curran, incoming chairman of the Charlotte Chamber, said the group's priorities in 2016 will center on improving relations with state legislators and passing state bonds to support local universities and city projects. Curran, CEO of Charlotte-based developer Bissell Companies, replaces outgoing chairman Tom Skains, CEO of Piedmont Natural Gas.

Businesses put out welcome mat for some hackers

December 1, 2015

(The Charlotte Observer)

North Carolina businesses including Bank of America, Lowe's Cos. and Ally Financial are hiring more "ethical hackers" to help find holes in cyber defenses. Hiring websites are full of ads seeking people with necessary computer skills that can deter not-so-ethical hackers.

Read more here: http://www.charlotteobserver.com/news/business/article46815280.html#storylink=cpy

Atlanta developer firming up plans for SouthPark-area project

December 1, 2015

(The Charlotte Observer)

Atlanta-based Reynolds Development & Management Group is considering a mixed-use project involving a retirement center, housing and retail at a 10.6-acre undeveloped site near Charlotte's SouthPark mall, property records show. Reynolds paid $16.5 million for the site in 2008, buying it from Lincoln Harris, according to a filing. Engineering and architecture firm Benesch is working on the project.


Read more here: http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article46525275.html#storylink=cpy

Charlotte's Carolina Premier raises $8 million to pay back feds

December 1, 2015

(The Charlotte Observer)

Carolina Premier Bank, based in Charlotte, raised about $8 million in a private stock offering with plans to use proceeds to pay off $6.2 million of preferred shares held by the U.S. Treasury. The company participated in a 2010 federal program that put money into participating community banks, aiding their lending to small businesses. The bank sold 1.2 million shares at $7 each. CEO David Barksdale is former chief strategy officer at NewBridge Bancorp of Greensboro.

ITG Brands could be takeover target

December 1, 2015

(Winston-Salem Journal)

British American Tobacco could be looking at buying Greensboro-based ITG Brands in a deal worth $67 billion, according to a top analyst. Imperial Tobacco Group in June acquired four traditional cigarette brands and blu eCigs from Reynolds American and Lorillard. The company employs about 1,700 former Lorillard employees in Greensboro.

New statewide newspaper plans February kickoff

December 1, 2015

(The Raleigh News & Observer)

North State Media, which produces online beer and racing publications, plans to start a statewide newspaper in February. Company officials cited Neal Robbins, a former legislative liaison for the N.C. Department of Environmental Quality, as a funder of the project. North State Media has started Carolina Beer Review and Chicken Bone Alley, a site for NASCAR fans.


Read more here: http://www.newsobserver.com/news/politics-government/politics-columns-blogs/under-the-dome/article47211500.html#storylink=cpy

New Jersey tech firm moving headquarters to Brunswick County

December 1, 2015

(Wilmington Star-News)

MicroSolv Technologies is moving its New Jersey headquarters to Brunswick County, drawn by lower costs, CEO Bill Ciccone said. The company will break ground on its new offices in Leland Business Park on Dec. 2. MicroSolv plans to employ 15 people at the 11,000-square-foot headquarters. Construction should be complete by April.

Startup FilterEasy raises more than $1.5 million

December 1, 2015

(The Raleigh News & Observer)

FilterEasy said it has raised more than half of its $3 million funding goal, with money provided by Idea Fund Partners of Durham and Cofounders Capital of Cary. The Raleigh-based startup has 20 employees. Its customers sign up online for home delivery of air filters for heating and air-conditioning systems. 

Private equity plays key role in community bank mergers

November 30, 2015

(Winston-Salem Journal)

Thirteen Triad-based banks have been acquired since 2003; the last five deals involved larger banks flush with cash from private-equity groups. BNC Bancorp, Yadkin Financial and Capital Bank – which announced last week it is buying Charlotte-based CommunityOne for $350 million – all received large infusions of private capital during the financial crisis.
Related: CommunityOne purchase raises stakes for former BofA execs