Jabil is issuing $500 million in senior notes, a debt security that takes precedence over other types of debt. The new notes won’t come due until 2030. Jabil (NYSE: JBL), a manufacturing solutions business and the largest company headquartered in St. Petersburg, said in a news release it would use the proceeds to repay term loan debt. Moody’s Investor Service assigned an investment grade Baa3 rating to the new notes and said the move is a credit positive if Jabil pays off terms loans due in 2020 or 2022. Moody’s also assigned a stable outlook to the new notes, reflecting the credit agency’s expectation that revenue at Jabil will grow in the low single digit percentage range and that operating margins and free cash flow will remain steady. S&P Global Ratings rated the new notes BBB-, also an investment grade rating.
Cott Corp. said it is evaluating strategic alternatives for S&D Coffee and Tea, including a potential sale of the business unit. S&D is Cott's coffee, tea and extract solutions segment. A sale would transition Tampa-based Cott (NYSE: COT) into a pure-play water solutions provider, a news release said. Cott said it has hired a financial advisor as part of its strategic planning process but there's no assurance that any particular alternative will be pursued. It would be another major transition for Cott, which sold its carbonated soft drinks and juice businesses in 2018.
The Pinellas Suncoast Transit Authority is training its drivers to recognize passengers who may be victims of human trafficking. Florida ranks third in the United States in human trafficking cases, and many abusers use public transportation to move their victims, PSTA said in a news release. The PSTA program, a partnership with the Department of Transportation, Truckers Against Human Trafficking, and the Department of Homeland Security, trains bus operators what to do when faced with an emergency. Since the program began in May, 78 staff members have been trained, the news release said.
A $70,000 grant for a post-doctoral fellow at University of South Florida St. Petersburg will be used to target the multiple stigmas surrounding HIV in Tampa Bay. The goal is to increase health screenings and diminish the spread of the disease. The grant went to Kemesha Gabbidon, a post-doctoral fellow at USFSP, who will use it to implement a community program that works with individuals and communities most affected by the epidemic. This program seeks to generate greater awareness about the disease and its treatments, reduce the negative stigma around those who have it and improve the overall health and well-being of populations, a news release said. Florida ranks third in the nation for the number of new HIV cases.
GHR Healthcare has acquired the Tampa-based health information management division of HCTec. The new entity is now called GHR RevCycle Workforce, and is focused on coding, clinical documentation improvement and case management. GHR RevCycle works with with clients across the United States, providing key personnel, streamlined processes and program management services to improve a healthcare organization's revenue cycle health, a news release said. Financial terms of the deal were not disclosed. GHR Healthcare is the Houston-based parent organization to a family of healthcare and community-based staffing companies.
The Cross-Bay Ferry is well on pace to eclipse last year's record ridership of nearly 53,000 riders. Ferry ridership in December 2019 was nearly 50 percent higher than in December 2018, a news release said, and overall, the ferry has seen a 36 percent increase in ridership year-over-year in the first two months of the seasons. The ferry carried 22,510 passengers in November and December 2019, compared to 16,566 in the same months in 2018. A move back to the Tampa Convention Center gets some of the credit for the increase, because it allows HMS Ferries to operate free from conflicts with cruise ships, which had limited its operations in previous years, according to the news release.
AmeriLife, a Clearwater-based company that markets and distributes life, health and retirement products, has entered into a recapitalization agreement with an investor group led by Thomas H. Lee, a private equity firm. Financial terms were not disclosed, but Barrons cited sources who said the deal was worth more than $1 billion. The investors are buying a majority stake from J.C. Flowers & Co. "We are excited to partner with THL in the next phase of our growth, building upon the success of our more than four-year relationship with J.C. Flowers & Co.," Scott R. Perry, CEO of AmeriLife, said in a news release.
As the Tampa Bay Regional Planning Council gathered for its leadership summit, JPMorgan Chase & Co. announced a $500,000 investment to support the organization's new initiative “Resilient and Energy Assessment of Communities and Housing” (REACH), REACH will seek to bring together experts, community leaders and elected officials to assess the potential risks to local communities from sea level rise and extreme weather events. The project will help to create strategies and policies to increase affordable and resilient housing development. The two-year initiative aims to weave affordable housing and development with climate change and resilience planning.
The Cross-Bay Ferry will alter its schedule and offer service on Monday, Jan. 20, 2020 for Martin Luther King Jr. Day. The ferry does not normally run on Mondays, but plans special runs on Jan. 20 to allow more people to enjoy the day off and the events offered, including St. Petersburg’s Annual MLK National Parade & Family Fun Day, a news release said. The special Monday schedule will begin with an 11 a.m departure from St. Petersburg’s dock in the Vinoy Yacht Basin, followed by a 12:30 p.m. departure from Tampa at the Tampa Convention Center. The remaining schedule will include a departure from St. Petersburg at 2 p.m, depart Tampa at 3:30 p.m., depart St. Petersburg at 7 p.m. and depart Tampa at 8:30 p.m. Tickets and more information are available through the Cross-Bay Ferry website.
Valet Living, a Tampa-based company that provides amenities for the multifamily housing industry, has acquired Trojan Waste Solutions, a Texas firm that offering doorstep waste and recycle pick up. Financial terms were not disclosed in a news release announcing the deal. With the purchase, Valet Living adds more than 10,000 apartment homes to its portfolio, primarily in San Antonio and Austin, Texas. Trojan Waste also serves communities in Florida, North Carolina and the Dallas/Fort Worth area. Valet Living said it would expand its full suite of amenity services to apartment communities in the Trojan Waste portfolio.
HCA Healthcare (NYSE: HCA) has acquired majority ownership of the parent company of Galen College of Nursing. Galen College, based in Louisville, Kentucky and one of the largest private nursing schools in the United States, provides nursing education to about 1,200 students in St. Petersburg. Galen opened an expanded 70,000-square-foot St. Pete campus at 10200 Dr. Martin Luther King Jr. St. last year, complete with a a simulated hospital setting and advanced technology. HCA has not disclosed how much it spent on the deal. HCA is one of the largest healthcare providers in the United States, with local hospitals that include St. Petersburg General, Northside, Palms of Pasadena and Largo Medical Center in Pinellas County.
Tech Data Corp. (Nasdaq: TECD) shareholders will vote Feb. 12 on the $6 billion acquisition of the company by funds associated with Apollo Global Management. The Tech Data board of directors set the date for the special meeting, which will be held at the Clearwater headquarters of the IT distributor. The board also determined that the close of business on Jan. 9 would be the record date for the determination of shareholders entitled to receive notice of and vote at the meeting. Tech Data, the largest company based on revenue that is headquartered in the Tampa-St. Pete area, will become a private firm if shareholders approve the deal.
