Good for Clayton for sure; office space around here (I work in Clayton) has been clearing out as rents have gotten a bit high.
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Wait, the PD article says DT STL:
http://www.stltoday.com/business/local/ ... 7b48b.htmlCrain's Cleveland Business said the company has about 30 executive employees in downtown Cleveland and is eyeing 11,000 square feet of space in downtown St. Louis.
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Nevermind, the Biz journals got it right:
The PD staff needs to understand the region and accurately report information.
http://www.bizjournals.com/stlouis/news ... louis.htmlThe corporate staff, which will relocate to St. Louis, has about 30 employees. Vectra CEO and President Jim Voss said the company would move into the PNC Building in Clayton, located at 120 S. Central Ave.
The PD staff needs to understand the region and accurately report information.
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^ the initial reporting came from the crain's cleveland story, which said downtown stl.... I think PD just used that and didn't go to Jim Voss directly for comment.
I'd be more excited about the Vectra move if it wasn't at Cleveland's expense. Cleveland is in the same boat as St. Louis, and I am rooting for its revival too. I'd be much happier if we snagged a company from Charlotte or Atlanta or Austin or Nashville, etc.
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PD changed the story to accurately reflect the fact they are not moving to St. Louis, rather Clayton.
It was fun while it lasted! - 8,912
I'll take more Billion dollar companies moving to the region please.
LOL! Me too. All of those cities have stole St. Louis companies in the past. I use "stole" tongue-and-cheek.stlgasm wrote:I'd be more excited about the Vectra move if it wasn't at Cleveland's expense. Cleveland is in the same boat as St. Louis, and I am rooting for its revival too. I'd be much happier if we snagged a company from Charlotte or Atlanta or Austin or Nashville, etc.
Charlotte: Stole The Sporting News
Atlanta: Stole Angelica, Smurfit-Stone, others
Austin: Lumeris Software (Stole 300 tech jobs). Company is based in St. Louis though.
Nashville: Stole Corizon Correctional Healthcare, others
On the other hand, would the good ol' folks in Cleveland have the same level of empathy if they were gaining from St. Louis?
St. Louis is a big chemical company region. Over the last few years, the chemical industry in St. Louis have added a few feathers in its cap.
-Tennessee-based Eastman Chemical, which purchased Solutia, is a big chemical giant, still have an office in Maryville Center.
-Olin just purchased a Dow Chemical's Chlorine Division perhaps pushing it into the Top 50 of chemical firms worldwide.
-Japan-based Toray bought Zoltek, giving St. Louis the presence of a major international chemical giant.
-Quinpario Partners formed and went public. It plans to acquire chemical firms in order to build its portfolio.
-St. Louis is losing Sigma-Aldrich, but is gaining Merck.
-Procter & Gamble is planning to expand its St. Louis facilities. I think demo is underway.
Although there won't be a lot of jobs coming, gaining a big corporation with about $1-billion in revenue is nothing to brush off. High-end housing, high-end cars, etc. will be purchased by those executives and managers willing to relocate. Accounts (ad, accounting, etc.) the firm currently has with companies in Cleveland likely will be transferred to St. Louis immediately and over time. The firm will likely contribute to civic needs and sponsor civic events in the region too.
Just too bad they are settling in downtown Clayton instead of downtown St. Louis.
-Tennessee-based Eastman Chemical, which purchased Solutia, is a big chemical giant, still have an office in Maryville Center.
-Olin just purchased a Dow Chemical's Chlorine Division perhaps pushing it into the Top 50 of chemical firms worldwide.
-Japan-based Toray bought Zoltek, giving St. Louis the presence of a major international chemical giant.
-Quinpario Partners formed and went public. It plans to acquire chemical firms in order to build its portfolio.
-St. Louis is losing Sigma-Aldrich, but is gaining Merck.
-Procter & Gamble is planning to expand its St. Louis facilities. I think demo is underway.
Although there won't be a lot of jobs coming, gaining a big corporation with about $1-billion in revenue is nothing to brush off. High-end housing, high-end cars, etc. will be purchased by those executives and managers willing to relocate. Accounts (ad, accounting, etc.) the firm currently has with companies in Cleveland likely will be transferred to St. Louis immediately and over time. The firm will likely contribute to civic needs and sponsor civic events in the region too.
Just too bad they are settling in downtown Clayton instead of downtown St. Louis.
Vectra is valued at about $700 million, not $1 billion. Still a great addition to the St. Louis corporate roster. Hopefully they follow the Post Foods model of establishing a small corporate HQ in STL and then proceeding to go on an acquisition tear.
Clayton will now have the Olin, Vectra, and FutureFuel headquarters. An impressive little cluster of chemical cos. for such a small area. Hopefully Monsanto adds Syngenta or Dow's agri-chemical unit to the list St. Louis HQ'ed chemical companies soon.
Clayton will now have the Olin, Vectra, and FutureFuel headquarters. An impressive little cluster of chemical cos. for such a small area. Hopefully Monsanto adds Syngenta or Dow's agri-chemical unit to the list St. Louis HQ'ed chemical companies soon.
According to several reports, the company had about $1-billion in revenues last year. The St. Louis Business Journal is one of them.
There's a difference.
Further, I didn't say the firm was "valued" at $1-billion.The company, with about $1 billion in 2014 revenue, also named three new executives on Monday.
Source
There's a difference.
Here's another resource. The company's 2014 Annual Report (Page 15).
(percent of net sales)
Net sales $ 1,067.5 (billion) (2014) $ 1,157.5 (2013) $ 1,544.4 (2012)
(percent of net sales)
Net sales $ 1,067.5 (billion) (2014) $ 1,157.5 (2013) $ 1,544.4 (2012)
Yep, definitely a difference between valuation and revenue. In this case the valuation and revenue for Vectra are just about equal around $700 million.
OM Group definitely had about $1 billion in revenue in 2014. But OM Group as it existed in 2014 is no longer. Immediately following the purchase of OM Group by Apollo last month, Apollo turned around and sold two of OM's business units (both specialty industrial chemicals) to another company (Platform Specialty Products, based in Palm Beach). Those two business units represented about 30% of OM's revenue. The three remaining lines of business have been used to form Vectra, and represent about $700 million of OM Group's 2014 sales.
Apollo paid $1.03 billion for OM Group, and Platform paid Apollo $365 million for the two business units it carved out. Hence the "about" $700 million valuation for Vectra.
OM Group definitely had about $1 billion in revenue in 2014. But OM Group as it existed in 2014 is no longer. Immediately following the purchase of OM Group by Apollo last month, Apollo turned around and sold two of OM's business units (both specialty industrial chemicals) to another company (Platform Specialty Products, based in Palm Beach). Those two business units represented about 30% of OM's revenue. The three remaining lines of business have been used to form Vectra, and represent about $700 million of OM Group's 2014 sales.
Apollo paid $1.03 billion for OM Group, and Platform paid Apollo $365 million for the two business units it carved out. Hence the "about" $700 million valuation for Vectra.
Still, apples and oranges.
First, I never mentioned "valuation", you did.
Yes, the number I mentioned was based on reported 2014 revenues from credible sources - including the St. Louis Business Journal.
The SLBJ said, "about $1-billion" (plus or minus). About simply means - not exact or nearly. I think you are hair-splitting. I could use your numbers and arrive at about $750-million, which is different than about $700-million.
30% of $1,067.50-billion is $320.25-million resulting in $747.25-million - not about $700-million. Not to be an a**hole, but I can split hairs too.
Further, we don't know what 2015's revenues will be like with the remaining divisions that formed Vectra until 2016. We truly won't know what we have until 2016. And until Vectra's 2015's numbers are established in 2016, I'm rolling with the St. Louis Business Journal for now. So at the end of the day, about $1-billion sounds about right.
When all is said is and done, the St. Louis region, to Cleveland's dismay and misfortune, is gaining a big firm with nearly or about $1-billion in revenues.
First, I never mentioned "valuation", you did.
Yes, the number I mentioned was based on reported 2014 revenues from credible sources - including the St. Louis Business Journal.
The SLBJ said, "about $1-billion" (plus or minus). About simply means - not exact or nearly. I think you are hair-splitting. I could use your numbers and arrive at about $750-million, which is different than about $700-million.
30% of $1,067.50-billion is $320.25-million resulting in $747.25-million - not about $700-million. Not to be an a**hole, but I can split hairs too.
Further, we don't know what 2015's revenues will be like with the remaining divisions that formed Vectra until 2016. We truly won't know what we have until 2016. And until Vectra's 2015's numbers are established in 2016, I'm rolling with the St. Louis Business Journal for now. So at the end of the day, about $1-billion sounds about right.
When all is said is and done, the St. Louis region, to Cleveland's dismay and misfortune, is gaining a big firm with nearly or about $1-billion in revenues.
St. Louis’ newest billion-dollar company names new CFO
Jan 11, 2016, 2:19pm CST
St. Louis Business Journal
INDUSTRIES & TAGS Technology, Human Resources, Chemicals
Vectra, the chemicals firm formerly known as OM Group Inc. that announced in November it would move its corporate headquarters to St. Louis, has hired a former SunEdison executive as its new CFO.
Manavendra Sial, who for the last five years has worked in some capacity at SunEdison, most recently as senior vice president of finance, joined Vectra in mid-December. He succeeds Christopher Hix, who had been OM Group’s CFO since January 2012.
“Manavendra is a key member of Vectra’s leadership team, shaping and driving the plan to significantly grow our market-leading businesses,” Vectra CEO and President Jim Voss said Jan. 8 in a statement.
Officials with Vectra, with about $1 billion in 2014 revenue and three specialty chemicals subsidiaries, said they’d move the company’s corporate office from Cleveland into the PNC Building at 120 S. Central Ave. in Clayton.
Read More
Jan 11, 2016, 2:19pm CST
St. Louis Business Journal
INDUSTRIES & TAGS Technology, Human Resources, Chemicals
Vectra, the chemicals firm formerly known as OM Group Inc. that announced in November it would move its corporate headquarters to St. Louis, has hired a former SunEdison executive as its new CFO.
Manavendra Sial, who for the last five years has worked in some capacity at SunEdison, most recently as senior vice president of finance, joined Vectra in mid-December. He succeeds Christopher Hix, who had been OM Group’s CFO since January 2012.
“Manavendra is a key member of Vectra’s leadership team, shaping and driving the plan to significantly grow our market-leading businesses,” Vectra CEO and President Jim Voss said Jan. 8 in a statement.
Officials with Vectra, with about $1 billion in 2014 revenue and three specialty chemicals subsidiaries, said they’d move the company’s corporate office from Cleveland into the PNC Building at 120 S. Central Ave. in Clayton.
Read More
Hate to see that kind of misinformation from the Biz Journal, but great to see Spectra start to set up shop, put down roots, and hire St. Louisans.
Kent’s TierPoint to acquire Cosentry, gain investor
Jan 20, 2016, 2:22pm CST
St. Louis Business Journal
TierPoint, the St. Louis-based cloud services provider and data centers operator led by Jerry Kent, has agreed to acquire Cosentry, a regional data center services provider that operates more than 40,000 square feet of data center space in downtown St. Louis.
Terms of the deal were not immediately disclosed. Following the deal, TA Associates, which owns Cosentry, will become a significant investor in TierPoint. It’s unclear how much TA Associates plans to invest in TierPoint.
“We are very pleased to be investing in TierPoint,” Harry Taylor, a managing director at TA Associates, said. “With their complementary product offerings and service areas, we are confident the addition of Cosentry to TierPoint’s portfolio will prove to be an industry powerhouse.”
Omaha, Nebraska-based Cosentry, with about $50 million in annual revenue, broke into the St. Louis market in early 2014 when it acquired IT service provider Xiolink for an undisclosed sum. It operates nine data centers throughout the Midwest, including St. Louis.
Following the deal, TierPoint, with 600 employees and revenue of nearly $300 million, will operate 38 data centers in 24 markets across the country.
TA Associates joins existing TierPoint investors such as Ontario Teachers’ Pension Plan, Kent’s Cequel III, Jordan/Zalaznick Advisers Inc., RedBird Capital Partners, The Stephens Group and St. Louis-based Thompson Street Capital Partners.
Founded in July 2010 as Cequel Data Centers, TierPoint has targeted second-tier markets, a strategy Kent used with Suddenlink, a company he sold for $9.1 billion to Altice SA in 2015.
Read More
Jan 20, 2016, 2:22pm CST
St. Louis Business Journal
TierPoint, the St. Louis-based cloud services provider and data centers operator led by Jerry Kent, has agreed to acquire Cosentry, a regional data center services provider that operates more than 40,000 square feet of data center space in downtown St. Louis.
Terms of the deal were not immediately disclosed. Following the deal, TA Associates, which owns Cosentry, will become a significant investor in TierPoint. It’s unclear how much TA Associates plans to invest in TierPoint.
“We are very pleased to be investing in TierPoint,” Harry Taylor, a managing director at TA Associates, said. “With their complementary product offerings and service areas, we are confident the addition of Cosentry to TierPoint’s portfolio will prove to be an industry powerhouse.”
Omaha, Nebraska-based Cosentry, with about $50 million in annual revenue, broke into the St. Louis market in early 2014 when it acquired IT service provider Xiolink for an undisclosed sum. It operates nine data centers throughout the Midwest, including St. Louis.
Following the deal, TierPoint, with 600 employees and revenue of nearly $300 million, will operate 38 data centers in 24 markets across the country.
TA Associates joins existing TierPoint investors such as Ontario Teachers’ Pension Plan, Kent’s Cequel III, Jordan/Zalaznick Advisers Inc., RedBird Capital Partners, The Stephens Group and St. Louis-based Thompson Street Capital Partners.
Founded in July 2010 as Cequel Data Centers, TierPoint has targeted second-tier markets, a strategy Kent used with Suddenlink, a company he sold for $9.1 billion to Altice SA in 2015.
Read More
Jerry Kent, in my opinion, is the real deal.
He is as quiet as a church mouse while he gets things done.
In essence, he rarely receives national recognition for the SOLID deals he makes.
It's amazing how he is able to get investors simply because of his track record.
He is quietly elevating the IT/tech/data center game of St. Louis BIG TIME.
My only issue.......please put a stamp/sign on a downtown St. Louis building.
He is as quiet as a church mouse while he gets things done.
In essence, he rarely receives national recognition for the SOLID deals he makes.
It's amazing how he is able to get investors simply because of his track record.
He is quietly elevating the IT/tech/data center game of St. Louis BIG TIME.
My only issue.......please put a stamp/sign on a downtown St. Louis building.
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^ yes; I mentioned the need for that just the other day.... its a looong building and you'd really not know anything is in there. The data center on Tucker by SLU Law is nicer in that regard (although it would be nice if it had some retail on that northern corner.)
Yep. I am aware of the building. I just think it would help downtown to have Tierpoint's name on a tower and absorbing office space.
Here's the Tierpoint (nee Xiolink, Cosentry) data center building.
Omaha-based Cosentry was to be building "an empire" and bought Xiolink in January 2014.
Interesting how exactly two years later..........Jerry Kent swoops in with Tierpoint and buys Cosentry.
Here's the Tierpoint (nee Xiolink, Cosentry) data center building.
Omaha-based Cosentry was to be building "an empire" and bought Xiolink in January 2014.
Interesting how exactly two years later..........Jerry Kent swoops in with Tierpoint and buys Cosentry.
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^ ah, I gotcha... you meant put his stamp on downtown with a TIerpoint HQ. No doubt.
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