VOL. 42 | NO. 15 | Friday, April 13, 2018
Clarksville lands auto battery manufacturer
ATLASBX Co., LTD, will locate its first U.S. manufacturing facility in Clarksville. The global automotive battery manufacturer will invest $75 million and create approximately 200 jobs in Montgomery County.
“South Korean companies continue to be a great partner,’’ says Bob Rolfe, Department of Economic and Community Development commissioner. “Today, more than 3,000 Tennesseans are employed by South Korean companies, representing a private capital investment in excess of $1 billion.’’
ATLASBX is a manufacturer of storage batteries and produces batteries for traditional passenger cars, light trucks, electric vehicles, commercial vehicles, boats and recreational vehicles. The company operates two manufacturing plants in South Korea, which is also the location of its global headquarters office.
ATLASBX is a sister company of Hankook Tire, which officially opened its tire manufacturing plant in Clarksville in October 2017.
ATLASBX plans to build a new manufacturing facility to be completed by 2020. The company will produce approximately 2.4 million batteries per year at the Clarksville facility, with a dedicated Absorbent Glass Mat line, a high-performance battery for start-stop vehicles.
ATLASBX also maintains a headquarters office in Nashville.
Nissan wins Energy Star Sustained Excellence prize
Nissan North America has been recognized by the U.S. Environmental Protection Agency with the 2018 ENERGY STAR® Partner of the Year – Sustained Excellence Award, the highest honor given to organizations dedicated to protecting the environment by making its operations more energy efficient.
This marks the seventh consecutive year EPA has recognized Nissan for its continued commitment to reducing greenhouse gas emissions and improving energy management at its U.S. facilities.
Nissan’s efforts to reduce energy usage include switching to more efficient technologies like LED lighting, engaging all employees in energy management, and including energy efficiency in design, such as an environmentally friendly paint process that has cut energy usage by more than 30 percent.
Nissan manufacturing operations in the U.S. include the Nissan Vehicle Assembly Plant in Smyrna, which was the largest producing automotive assembly plant in North America each of the last four years.
Parthenon Publishing now part of bohan
Bohan, an independent, full-service advertising and marketing agency, has announced today that Parthenon Publishing’s content creation services arm will now reside under the bohan brand.
The move expands bohan’s full-service offerings to include additional content creation talent along with email marketing and website development offerings. Bohan also offers in-house video content creation.
Established in 1990, bohan has major clients in tourism/hospitality, health care, retail and restaurants.
In addition, five Parthenon staffers will join bohan, including Parthenon President Bobby Stark, who will assume the role of senior vice president of content and business development at bohan and report directly to President and CEO Shari Day. Bohan is one of the three largest advertising agencies in Nashville and employs approximately 75 people.
Vatica Health plans expansion
Nashville-based Vatica Health, a provider of physician-integrated risk adjustment and clinical quality solutions to health plans and risk-bearing providers, has completed a majority recapitalization with Great Hill Partners, a growth-oriented private equity firm.
Financial terms of the transaction were not disclosed.
The investment will allow Vatica to significantly expand its geographic footprint, sales and marketing, and product development efforts.
Vatica Health has grown substantially in recent years as payers and providers demand solutions to help navigate an increasingly complex process for submitting compliant risk adjustment codes for value-based reimbursement.
Vatica’s platform combines proprietary, cloud-based technology with clinical personnel deployed at the point-of-care to drive clinically substantiated risk adjustment codes, improve quality of care, and ensure revenue integrity.
VUMC launches Nashville Biosciences
Vanderbilt University Medical Center has created a wholly-owned subsidiary, Nashville Biosciences.
The new company will focus extensive genomic and bioinformatics resources to advance drug and diagnostics discovery and development.
Through Nashville Biosciences, pharmaceutical and other life science companies can leverage the wealth of data contained within the Medical Center’s genomics and health information technology resources to accelerate their discovery and development of new treatments for patients,
It will also help support institutional research efforts.
Nashville Biosciences will work with outside companies and the formidable research resources housed in VUMC, including its comprehensive databank BioVU which contains more than 250,000 DNA samples collected over the last decade, coupled with 2.8 million de-identified patient records.
State’s unemployment rates remain low
Williamson County continues to have the state’s lowest unemployment rate in February.
The county’s February rate of 2.4 percent is a decrease of 0.1 of a percentage point when compared to the previous month.
At 2.6 percent, Davidson County had the state’s second lowest unemployment rate in February, which was 0.1 percent point lower than January’s rate.
The Tennessee Department of Labor and Workforce Development’s report showed improved rates for the majority of the state’s counties during the month.
Sixty-nine of Tennessee’s 95 counties saw lower unemployment rates when compared to January 2018. The rates remained the same in 21 counties and increased in five counties.
Houston County had the state’s highest unemployment rate in February at 6.8 percent, which is the same rate the county had in January.
Washington firm buys c3/consulting
Nashville’s c3/consulting, a management consulting firm, has been acquired by Ankura, a Washington, D.C.-based business advisory and expert services.
Ankura focuses on both governance, risk, and compliance services and strategy and operational improvement services.
The acquisition helps Ankura’s strategy and operational consulting capabilities and enables c3 to expand its reach across the country. With the acquisition of c3, Ankura has over 575 professionals and 14 offices located throughout the U.S. and Puerto Rico.
The founder and chief executive officer of c3 is Beth R. Chase, and it has become a leading management consulting firm and one of the 10 largest women-owned businesses in Middle Tennessee since its founding.
Chase and her partners – Brian Bowman, Vicki Estrin, Helen Lane, Katherine McElroy and Janet McDonald – will join Ankura as senior managing directors.
The transaction is expected to close by the end of the month, subject to customary closing conditions. Terms of the acquisition were not disclosed.
Franklin Financial, Civic merger done
The merger of Franklin Financial Network, Inc., the parent company of Franklin Synergy Bank, and Civic Bank & Trust has been completed.
Richard Herrington, Chairman and CEO of Synergy Bank, comments, “We are very pleased to announce the completion of our merger with Civic.
“While we have long-standing banking relationships in Nashville and Davidson County, Civic’s centrally located home office in Nashville’s mid-town neighborhood is our first physical location in Davidson County.
“This premier location provides us an established platform from which to expand in the dynamic Nashville market. In addition, we welcome Civic’s team members and Dr. Anil Patel, Chairman of Civic, to the boards of the company and the bank.”
Franklin Financial Network, Inc. was advised by the investment banking firm of Raymond James & Associates, Inc., and the law firm of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC. Civic Bank & Trust was advised by Professional Bank Services, Inc., Stephens, Inc., and Butler Snow, LLP.
I-440 on 3-year TDOT program
The Tennessee Department of Transportation has released its annual three-year transportation program, featuring approximately $2.6 billion in infrastructure investments for 143 individual project phases on 116 projects.
I-440 in Nashville is on the list.
The program also places a high emphasis on the repair and replacement of bridges, with activities beginning on 80 structures. Ten of those bridges are on the state highway system, with the other 70 on local roads.
Also on the list is widening of I-40 in Wilson County from SR 109 to I-840.
“This year’s transportation plan provides for much needed infrastructure improvements and maintenance for many areas of our state,” Gov. Bill Haslam says. “These investments result in a safe, reliable, and debt-free highway network for our citizens and are critical in our efforts to bring high quality jobs to Tennessee.”