signetmaster, Author at Signet LLC

Signet Capital Advisors Provides Sell-Side Advisory to Mediquant Inc, Resulting in ACG Cleveland’s 2019 Deal Of The Year Award

Cleveland-based financial advisory firm Signet Capital Advisors served as sell-side advisor to MediQuant on the award-winning transaction.

MediQuant, Inc. was recently named recipient of the prestigious 2019 Deal Maker Award in the Association for Corporate Growth (“ACG”) Cleveland’s Corporate Small Private Category. Cleveland-based financial advisory firm Signet Capital Advisors served as sell-side advisor to MediQuant on the transaction.

ACG is an international association of dealmakers, including private equity, investment banking, legal and other professionals who engage in middle-market mergers and acquisitions (M&A). The Cleveland chapter’s 23rd annual Deal Maker Awards are a tribute to Northeast Ohio’s preeminent corporate deal makers for their accomplishments in using acquisitions, divestitures, financings and other transactions to fuel sustainable growth.

MediQuant is recognized as a leader in data archiving for the healthcare industry. The company was founded in 2004 and has grown rapidly since then in both sales and employees, making the Weatherhead 100 list eight straight years. In 2018 MediQuant’s shareholders decided to seek a capital partner that would help continue the company’s stellar growth, and enlisted Mike Paparella and the Signet team to explore liquidity options.

Throughout the sell-side advisement process, Paparella and his team worked to position the business to appeal to a national audience, screen each potential partner for cultural fit as well as financial value, and assist the shareholders in choosing the partner that provided the best opportunity to perpetuate the company’s continued growth and build it into a regional and industry powerhouse. They identified that buyer as Boston-based growth equity firm, Silversmith Capital Partners.

Silversmith retained a strong position throughout the auction process that included firms from coast-to-coast, and ultimately took a majority share in the business, injected capital to support MediQuant’s transformation growth strategy, and has made a strong commitment to keep and grow the business in Northeast Ohio.

“Signet Capital Advisors would like to congratulate MediQuant and Silversmith Capital Partners on their transaction,” said Mike Paparella, Managing Director of Signet Capital Advisors. “We are thrilled that MediQuant received the ACG Cleveland Deal Maker Award and are honored to have been their strategic advisor throughout the entire process and facilitate a positive outcome for both sides.”

“The transaction and subsequent award for MediQuant are a testament to Mike and his team’s diligence and hard work throughout that entire process,” said Kenneth Krismanth, CEO of Signet Capital Advisors’ parent company, Signet LLC. “Mike was able to secure an outstanding financial commitment from the buyer, which provided a situation for growth opportunities for MediQuant’s staff and closed the transaction in less than 40 days as agreed upon.”

About Signet Capital Advisors
Signet Capital Advisors (“SCA”) provides financial advisory services such as sell-side, buy-side, capital raising, and debt placement to middle market clients. SCA also provides strategy creation, outsourced corporate development, and benchmarking services (through the Corporate M.P.G.™ analysis) to company owners and management teams. Learn more at signetcapadvisors.com

About MediQuant
MediQuant provides comprehensive data life cycle management technology, working in close partnership with healthcare providers and other vendors to optimize data management, including revenue cycles. Visit http://www.mediquant.com

About ACG Cleveland
Founded in 1954, the Association for Corporate Growth has chapters worldwide representing 14,500 members. ACG serves 90,000 investors, owners, executives, lenders and advisers to growing middle-market companies. ACG’s mission is to drive middle-market growth. Visit http://www.acg.org/cleveland

Read the original article on PRWeb.

Signet LLC acquires Tennessee book-manufacturing operation

Signet LLC is adding another page to its printing and publishing companies.

The Akron investment and development firm announced it has acquired Sheridan Specialty Bindery (SSB) of Church Hill, Tenn., from CJK Group Inc. and will merge it with its BindTech company.

Terms of the transaction weren’t disclosed.

Signet owns BindTech book manufacturing divisions in Cleveland (formerly Finish Line Binderies) and Nashville, where BindTech is headquartered. Signet also owns Publishers Storage & Shipping Corp., which specializes in inventory management, fulfillment and warehousing, and operates out of Ypsilanti and Ann Arbor, Mich., and Fitchburg, Mass.

Founded in 2006, SSB, which formerly operated as Kingsport Book until CJK purchased it in 2018, employs about 50 people and runs a 120,000-square-foot facility that has the capacity to produce hardcover and flex-cover books.

Signet plans to keep all SSB employees, a news release said, and SSB founders Rick Jennings and Fred Cooper will serve as division managers. SSB also will take on BindTech branding.

The acquisition of SSB will allow BindTech to utilize more capacity, especially in high-end book manufacturing, according to the release. The move also means that divisions can share jobs to improve turnaround times and logistics.

“We’re thrilled to add SSB and its employees to the Signet business family,” Signet chairman Anthony Manna said in the release. “Their commitment to service is a philosophical match with us and we are excited about the strengthened market position we will see as it merges with BindTech.”

Signet merged the former Cleveland-based Finish Line Binderies with BindTech in August 2018 to gain a stronger market position and leverage the strengths of both operations. Now, the same ideas are behind the SSB acquisition, the company said.

“This addition will allow BindTech to provide our customers with the ability to make one call for any and all of their finishing, warehousing and fulfillment needs,” said Chad Dillon, BindTech’s vice president of operations and sales, in a statement. “It also eliminates conflicts for the client base with the two binderies in potential competition for market share.”

Signet said it expects the merger to be completed by the second or third quarter of 2019.

Read the original article on Crain’s Cleveland Business.

Signet LLC Announces Sale of eTERA Consulting

Akron- based private investment firm Signet LLC has sold the majority ownership of their award-winning eDiscovery managed services company, eTERA, which grew from start-up to industry-leader since its inception in 2004.

Signet LLC sells majority ownership of data management services company

By Crain’s Cleveland Business

January 25, 2019

Signet LLC just did something it’s not very accustomed to doing: It sold a company.

The Akron investment and development company is much more accustomed to buying companies to add to its portfolio. But on Thursday, Jan. 24, Signet announced the majority ownership sale of eTERA Consulting, which provides data management services, to HaystackID.

Read the rest of this article on Crain’s Cleveland Business here.

Signet LLC Announces Sale of eTERA Consulting to HaystackID

AKRON, OHIO (PRWEB) JANUARY 23, 2019

Private investment firm Signet LLC’s executive leadership have announced the majority ownership sale of their industry-leading eDiscovery managed services company, eTERA Consulting, to HaystackID. Signet LLC Principals have disclosed that as a part of the transaction they have received a minority interest in the acquiring entity, HaystackID. The transaction was facilitated by Signet LLC’s wholly-owned sell-side advisory firm, Signet Capital Advisors.

eTERA has been in Signet LLC’s portfolio since 2004, when it was created as a start-up company offering document management services to law firms and corporations. The award-winning firm, headquartered in Washington DC, expanded and enhanced its service offerings to include managing complex, big data projects in the areas of information governance, investigations, litigation, regulatory compliance, and security breach response.

HaystackID is a specialized eDiscovery services firm that helps corporations and law firms find, listen, and learn from data when facing complex, data-intensive investigations and litigation through its managed services platform. Operating several offices in the US and internationally, HaystackID’s market approach and position is highly complementary with eTERA, providing a natural transition for the eTERA senior management team and many of the employees who will be staying on after the transition.

Anthony (Tony) Manna, Chairman of Signet LLC, is excited about the acquisition, which showcases Signet’s investment philosophy to grow and nurture both acquired and startup companies, adding value and resources to each business through consistent executive oversight and strategy, accounting, operations management, marketing and legal services.

“eTERA was started from scratch and realized significant growth over time through innovation, acquisition and hard work. The entire management team is to be credited with developing the very meaningful market position that it operates from now,” says Manna. “We are honored to have been a part of its growth and to have had the ability to nurture it over the years, bringing it to this point today. We greatly look forward to remaining a part of its ownership under HaystackID, and watching it achieve even greater heights and better market positioning as it continues to grow and evolve with HaystackID.”

Mark Corr, President and COO of Signet LLC, provided direct oversight to eTERA since its start in 2004. Corr always saw dramatic growth potential for the company, and is excited for them to take the next step in growth and maturity as an organization. Corr explains why the fit was perfect for eTERA to now take that next step with HaystackID.

“For eTERA to achieve the full potential we as ownership envisioned for it, we needed to find the right partner, one who is grounded and successful in the space, and who would both be able to understand the unique value proposition and leverage the strengths of eTERA,” says Corr. “We are overjoyed in finding that partner (in HaystackID) and agreeing to terms for them to take over majority management and direct oversight.”

Corr adds, “eTERA is truly a Signet success story. We are very pleased for our operating partners, management team and eTERA’s employees, many of whom have been with us on this journey since its inception.”

Scott Holec, former President and Founder of eTERA, has been promoted and named Chief Operating Officer of HaystackID. Holec added, “HaystackID is a dynamic organization, highly complementary to our service portfolio and immediately additive to our ability to serve our global customer base. More importantly, both companies have an unwavering client-service focus which promotes the right cultural fit across our respective employee and customer bases. We are delighted to join forces with Haystack ID, an organization poised to support our continued and future endeavors in this space.”

About Signet LLC
Signet brings an innovative, unconventional approach to global investment that embodies creativity and forward thinking to achieve long-term success. With leadership and expertise in the areas of project structuring, capital formation, operational investment and management, we tailor strategy and resources to meet each unique opportunity. Boundless in ideas and tactics, Signet has spent 20+ years crafting collaborative partnerships that advance initiatives in real estate, diversified manufacturing, health and wellness, emerging technologies, investment banking and finance. Visit SignetLLC.com.

About eTERA Consulting
eTERA Consulting is an international, award-winning organization selected by clients to help solve the challenges of complex, big data projects in the areas of information governance, investigations, litigation, regulatory compliance, and security breach response. eTERA provides customized data management solutions and services to Fortune 500 companies and the Am Law 100 at the intersection where legal, data analytics, security, and information technology meet. Visit eTERA.consulting.com.

HaystackID is a specialized eDiscovery services firm that helps corporations and law firms find, listen, and learn from data when they face complex, data-intensive investigations and litigation. With an earned reputation for mobilizing industry-leading computer forensics, eDiscovery, and attorney document review experts, HaystackID’s Forensics First, Early Case Insight, and ReviewRight services accelerate and deliver quality outcomes at a fair and predictable price. Learn more at HaystackID.com.

Read the original release on PR Web.

Signet LLC Creates Speciality Chemical Division; Names Kevin Williams President

Private investment firm Signet LLC has announced that it has formed a Chemical Specialties Division, a platform that will include four of its chemical manufacturing & service companies. The platform will be overseen by Kevin Williams, who was recently hired as President of the new Chemical Specialties Division. The four companies in the platform include:

Sprayroq, a national industry leader in spray applied resin technology for structural rehabilitation and corrosion protection of water, wastewater and other industrial infrastructure assets, based in Birmingham, Alabama;
Sprayroq of China, which similarly services applied resin contracts in Asia, based in Shanghai;
Creative Polymer Solutions, an innovator in the field of customized polymer technology for corrosion control and structural rehabilitation in commercial and in public sectors, also based in Birmingham, Alabama;
And Signet’s newest acquisition, Blue Grass Chemical Specialties, a chemical manufacturer engaged in contract manufacturing and toll production of custom proprietary chemical products which include nitrated metal salts, precipitated products and other specialty low-volume chemical applications, based in New Albany, Indiana.

Signet leadership expects each of the companies to continue their recent growth and looks forward to even more dramatic growth with the formation of this platform under Williams’ oversight.

“Signet’s ownership philosophy has always been to build and expand our portfolio through insourcing and acquisition of like companies in order to get to a point of critical mass, where market saturation and industry brand awareness can be attained,” says Anthony (Tony) Manna, Chairman of Signet LLC. “We don’t just buy and hold, we see where we can bring value and effective change to each company. The formation of this dedicated specialty chemical platform, and bringing in Kevin Williams to lead it, is the next step in that evolution.”

Previous to taking on his new role at Signet, Williams was President of Univertical, an international industry leader in metal chemicals manufacturing. Prior to that, Williams was General Manager of Univertical International, based in Suzhou, China, which gives him extensive experience in the Chinese industrial markets in which Sprayroq of China operates.

“Kevin brings a high level of quality, expertise and experience to our organization, specifically in the areas of chemical manufacturing,” says Mark Corr, President and COO of Signet, LLC. “This is a very exciting time for the entire Signet Chemical Specialty Division, as each of the individual operating units are experiencing rapid growth. Kevin has an outstanding reputation for leadership development, process management and product development in the chemical industry and is uniquely qualified to provide hands-on support and the guidance necessary to not only maintain but build upon our momentum.”

Williams will take over direct management and oversight of the leadership teams at each of the individual operating units, a role that Corr served from Signet LLC’s corporate offices in Akron, Ohio. Kevin will be relocating to Birmingham, home of two of the division’s businesses, Sprayroq and Creative Polymer Solutions. Kevin will focus on advancing market penetration initiatives and enhancing brand awareness in the industry, while Corr will continue to focus on strategic activities including mergers and acquisition opportunities and expansion initiatives.

“I am truly honored to join the Signet LLC management team and lead each of these growing companies in the chemical manufacturing space,” says Williams. “With the four companies now organized and aggregated into their own division, we will be afforded the opportunity to achieve more efficient growth as a team and exploit strategic synergies within the platform and the greater marketplace, without mitigating the individual strengths and value propositions of each company.”

Creative Polymer Solutions will move into a new, larger plant in Birmingham in the first quarter of 2019, which will allow for greater capacity for the company which has seen dramatic growth since its inception in late 2015.

Blue Grass Chemical Specialties is currently in the process of undergoing several dramatic capital improvements to its operating facility in New Albany, and just underwent a corporate rebranding, unveiling a new logo and company website.

About Signet LLC
Signet brings an innovative, unconventional approach to global investment that embodies creativity and forward thinking to achieve long-term success. With leadership and expertise in the areas of project structuring, capital formation, operational investment and management, we tailor strategy and resources to meet each unique opportunity. Boundless in ideas and tactics, Signet has spent 20+ years crafting collaborative partnerships that advance initiatives in real estate, diversified manufacturing, health and wellness, emerging technologies, investment banking and finance. Visit signetllc.com.

About Sprayroq
Sprayroq is a global industry leader in spray applied resin technology for structural rehabilitation and corrosion protection of water, wastewater and other industrial infrastructure assets. Visit http://www.sprayroq.com

About Creative Polymer Solutions
Creative Polymer Solutions is an innovator in the field of polymer technology for corrosion control and structural rehabilitation in commercial and in public sectors. With a focus on providing creative, cutting-edge solutions for challenging applications, CPS is fully invested in each client’s unique needs, from development to design to initial usage. Visit http://www.creativepolymer.com.

About Blue Grass Chemical Specialties
Blue Grass Chemical Specialties, LLC is a chemical manufacturer engaged in contract manufacturing and toll production of custom proprietary products and “Blue Grass” branded chemical products. Blue Grass’ diverse range of production capabilities includes nitrated metal salts, precipitated products and other specialty low-volume chemical applications. Visit http://www.bluegrasschemical.com.

Read the original article on PRWeb.

Signet Real Estate Group to bring creativity in both design and function to KSU’s planned new College of Business Administration

Read the original article courtesy of the Akron Beacon Journal on Ohio.com article here.

By Katie Byard
Beacon Journal/Ohio.com
Posted Sep 29, 2018 at 5:50 PM

A mock trading floor and a 400-seat theater are among features of a proposed glass-walled $72.9 million College of Business Administration building at Kent State University.

The building will be the most prominent part of the first phase of the university’s $1 billion-plus, 10-year campus transformation plan that KSU trustees approved this year.

The building will be constructed off East Main Street in the Front Campus area. It will include a gateway, green spaces and a parking deck.

Signet Real Estate Group of Akron won a preliminary design competition for the building and will oversee the formal design phase.

KSU trustees have approved spending $3.2 million on this design phase, which will end next summer.

Construction is expected to begin next summer and be completed in time for fall semester 2021 classes, Michael E. Bruder, KSU executive director of facilities planning and operations, said last week.

The plan, though not yet finalized, is for Signet’s team to also manage construction, Bruder said. The group is developing financing options to offset project costs.

KSU officials have said that one possibility is having the developer foot the bill for the cost of the building and then lease the property back to the university.

Private contributions, with donors contributing money for naming rights, also will be part of the funding mix.

Deborah F. Spake, the dean of the KSU College of Business Administration, said all four designs submitted for the competition “were beautiful.” Signet, she said, “presented the best package,” including preliminary information on financing options.

The Signet design, she said, “will allow us to really reflect forward thinking, best practices business education from a technology standpoint as well as a space standpoint.”

The $72.9 million projected cost of the building includes fixtures and equipment.

Kent State officials has said earlier they are not planning to issue bonds to finance the first phase of the $1 billion “Gateway to a Distinctive Kent State” $1.2 billion master plan.

Contributions and public-private partnerships are to fund more than half the projected $127.4 million cost of the first phase.

Signet Real Estate Group, a part of the Akron-headquartered Signet LLC private investment company, has focused on campus housing, medical facilities and public-private partnerships. Crain’s Cleveland Business reported last fall that its real estate portfolio totaled about $4.5 billion.

Its projects include student housing and an education and wellness center at the Northeast Ohio Medical University in Rootstown Township and student housing at the University of Akron (Honors Residence Hall, Exchange Street Residence), University of Florida and Delta State University in Mississippi.

Signet has assembled a team of experienced professionals to assist in the delivery of the new College of Business including a design team of Perkins + Will and the Collaborative Inc., a construction team of Turner Construction and Ozanne Construction and an engineer team of Scheeser Buckley Mayfield, Barber Hoffman and CESO.

Kent State Selects Top Akron Developer to Design Proposed Home of College of Business Administration

READ ORIGINAL ARTICLE ON KENT STATE UNIVERSITY’S WEBSITE

SEPTEMBER 12, 2018

Kent State University has selected Akron’s Signet Real Estate Group to lead the design phase of the marquee building of the first phase of the Kent Gateway Plan – the proposed new home for the College of Business Administration.

The project is part of the university’s Gateway to a Distinctive Kent State, a $1.2 billion master plan to transform the Kent Campus over 10 years. The new College of Business Administration building is proposed to anchor in the transformation of the Front Campus along East Main Street, which will include a signature gateway to the university, additional green spaces and a new parking deck.

At its Sept. 12 meeting, Kent State’s Board of Trustees approved a $3.2 million contract toward the design phase of the project, which will begin immediately and culminate in the summer of 2019. The Board must approve further next steps for the project at future Board meetings.

Signet brings more than 20 years of experience in successful development and facility management solutions in the areas of healthcare, higher education, research, public-private partnerships and strategic infrastructure. Since its inception, Signet and its family of companies have successfully managed and currently have in progress more than $4.5 billion in real estate development and construction throughout the U.S. Headquartered in Akron, Ohio, and with leadership and expertise in the areas of project structuring, capital formation, operational investment and management, they tailor strategy and resources to meet each unique opportunity.

“We are excited for the opportunity to create a new, iconic College of Business Administration building that will create a collaborative learning environment for business students from all over the world,” said Kevin Belt, vice president of development at Signet.

The proposed building includes a variety of classroom and learning laboratories, faculty and administrative offices, study and gathering spaces, and common areas that will encourage greater collaboration among students, faculty, staff and business leaders. The new building will model the type of learning environment that best supports students who will become the business leaders and entrepreneurs of the future.

“The innovative design presented by the Signet team appropriately reflects the success and pride of the college and its alumni, by creating an environment that emphasizes forward-thinking, educational best practices to prepare students for business careers of the future,” said Deborah F. Spake, Ph.D., dean of Kent State’s College of Business Administration.

Signet was chosen from four finalists as offering a vision with the best overall value and most cost-effective approach for completing the distinctive project. As part of a P4 approach (public-private partnership plus philanthropy), Signet is developing a variety of innovative financing options including philanthropic opportunities to offset project costs. This forward-thinking model includes significant naming opportunities to recognize the university’s donors for their philanthropy.

“Kent State’s use of a P4 approach to developing the project provides a creative development solution not previously utilized for a building of this type,” Mr. Belt said. “We thank Kent State for this opportunity and look forward to working closely and collaboratively with them to bring this project to reality.”

Signet has assembled a team of experienced professionals to assist in the delivery of the new College of Business including a design team of Perkins + Will and The Collaborative Inc., a construction team of Turner Construction and Ozanne Construction and an engineer team of Scheeser Buckley Mayfield, Barber Hoffman and CESO.

RENDERINGS OF THE PROPOSED COLLEGE OF BUSINESS ADMINISTRATION AT KENT STATE UNIVERSITY

Signet Capital Selected As Advisor To Airport In Securing Financing For Akron-Canton Airport’s (CAK) Gate Replacement Project

Company leadership announced last week that Columbus, Ohio-based Signet Capital was selected in 2016 as Advisor to the Airport in securing financing for Akron-Canton Airport’s recently unveiled gate replacement plans.

The 10-year $34 million modernization project, which includes a new, 41,600 square-feet concourse area and a new sit-down restaurant, broke ground last week. The new gates are projected to open late fall 2019 or spring 2020, depending on weather.

“We are thrilled to have been selected to secure financing for Akron-Canton Airport’s Gate Replacement Project,” says David Fumi, Managing Director of Signet Capital. “CAK is a wonderful resource to our entire region, and we are honored to be able to contribute to its long-term health and positive impact to the region,” says Fumi.

Signet Capital, a portfolio company of Akron-based private investment firm Signet LLC, is a boutique investment banking and structured financial services firm with extensive structuring and distribution capabilities for debt and equities securities.

Fumi worked closely for many months with CAK President & CEO Rick McQueen and Jim Krum, Contracts & Finance Manager to structure the capital financing plan. Fumi was pleased to find a structure that works well for CAK and allows them the capital and flexibility required to get the project off the ground and maintain its funding throughout the overhaul.

“We explored numerous financing options for the Airport, but ultimately settled on a structure that provides both an attractive cost of funds and repayment flexibility; with a portion of the project being financed through the Ohio Department of Transportation’s State Infrastructure Bank Program, and a portion financed through the issuance of tax-exempt bank bonds purchased by S&T Bank,” said Fumi.

CAK is also funding part of the project with Federal Airport Administration Airport Improvement Program grant funding.

According to CAK’s McQueen, Signet Capital was chosen based on its ability to secure attractive financing for the Airport and its understanding of the Airport’s ongoing capital needs and existing debt structure.

“We value the long-standing relationship we have established with Signet, it’s one that continues to grow,” said Rick McQueen, President and CEO of the Akron-Canton Airport. “Finding a partner who understands the needs of CAK and the intricacies, regulations and steps it takes to finance an airport such as ours is invaluable. We look forward to working together to take this big step into the future.”

Signet also worked with CAK in 2010 in assisting the Airport in securing financing for its long-term parking lot expansion.

Read the original article on PR Web.

Signet LLC Merges Cleveland-based Finish Line Binderies with Nashville Firm

To keep up in an industry that’s consolidating, Cleveland-based bookbinder Finish Line Binderies will merge with Nashville-based BindTech, a former competitor in the bookbinding industry, parent company Signet LLC announced Monday, Aug. 20.

“There is tremendous consolidation occurring in the print bindery and fulfillment industry. This merger will allow for a much stronger position in the market as we leverage the strengths of both plants, which come together to form one formidable brand,” said Anthony Manna, chairman of Akron-based private investment firm Signet, which is the parent of both firms.

Signet said the merger will result in Finish Line being fully integrated with BindTech and adopting that company’s branding.

The companies said in a news release that the merger “will improve the customer experience for both client bases by streamlining fulfillment processes, which will speed up turnaround times and improve logistics.”

The companies also hope the deal will help them in an era when the bookbinding industry faces increasing workforce challenges and competition for labor.

“This merger allows us to more effectively allocate and deploy talent, and to streamline internal resources and processes to recruit and retain skilled talent,” Finish Line co-owner John Helline said in a news release.

Finish Line was established in Cleveland in 1937 and its plant here will remain open, as will the Nashville plant of larger BindTech, according to the release. The Nashville division specializes in hardcover binding that uses adhesive or sewing. It also specializes in coil and wire mechanical binding. The Cleveland plant specializes in mechanical binding, kitting and fulfillment.

“This merger allows us to become a more effective solutions provider for our clients by allowing us to address their needs with a holistic approach. We can allocate resources and execute logistics at a higher level utilizing the resources and benefits of each location,” Chad Dillon, general manager of BindTech, said in the release.

Dillon, who previously worked in management at Finish Line, now oversees both divisions from the Nashville location, Signet said.

The companies said merger also eliminates conflicts for the client base, because without the deal, the two binderies potentially could be in competition for market share.

Company leadership also announced the promotion of David Marvin to division manager of the Cleveland plant and the hiring of Mackenzie Koupal to the position of division controller of the Graphic Arts Group.

Finish Line and BindTech expect to be fully integrated by the third quarter, Signet said.

Read the original article on Crain’s Cleveland Business.

Marshall University, in Partnership with Signet, Breaks Ground for New School of Pharmacy and Graduate Housing

HUNTINGTON, W.Va. – In a ceremonial groundbreaking today, Marshall University marked the official start of construction on its new $56 million school of pharmacy academic building and graduate student housing complex on the Fairfield Campus of the Marshall University Joan C. Edwards School of Medicine.

The new academic building, which will be located at the corner of Hal Greer Blvd. and Charleston Ave., will house research, instructional, communal and administrative areas. The graduate housing project, located adjacent to the Erma Ora Byrd Clinical Center, will feature 200 units for apartment-style living and will accommodate pharmacy and medical students as well as resident physicians.

Marshall University President Jerome A. Gilbert said at the ceremony, “We will change our students’ lives through these new facilities. We will enhance their learning experiences and prepare them for successful careers in health care. We will provide comfortable, affordable living accommodations that are specially designed for the needs of graduate students and their families.

“And I stand here today to tell you that construction of this new pharmacy facility and graduate student housing complex also will be a turning point in the revitalization of this neighborhood and this community. We can leverage this project, along with the resources of our existing health sciences campus and Cabell Huntington-Hospital, to reimagine what the Hal Greer Boulevard Corridor can be.”

In one of her first public events since taking the school of pharmacy deanship in May, Dr. Gayle Brazeau said she is indebted to those before her who have worked diligently to bring the new school of pharmacy to fruition.

“Visionaries like Dr. Stephen Kopp, interim president Gary White, inaugural dean Dr. Kevin Yingling and interim dean Brian Gallagher, as well as school of medicine dean Dr. Joe Shapiro and President Gilbert have all spent countless hours plotting the course for the growth of our programs,” Brazeau said. “I’m very happy to join the Marshall family at this pivotal point in its history.”

Dean Joseph Shapiro of the school of medicine commented that the move toward a more cohesive health sciences campus will not only benefit students, but boost the university’s research component as well.

“Team science and collaboration are cornerstones in the research world,” Shapiro said. “The move to geographically anchor our schools of medicine and pharmacy in the same area is incredibly beneficial for our programs. Simply put, the move will streamline our operations and collaboration will run smoother.”

The new facilities celebrated today are the result of a public-private partnership between the university and private investment firm Signet LLC. Signet is managing the financing, design and construction of the project, which will be funded primarily through proceeds from the housing complex.

Anthony Manna, chairman of Signet LLC, said, “We are truly delighted to have this opportunity to partner with such a prestigious institution as Marshall in order to bring transformation to their life sciences campus and Huntington. These projects represent the best of what a public-private partnership should be, and we are excited to help the university achieve its goal and vision.”

The architects are Edward Tucker Architects Inc. of Huntington and Perkins + Will of Atlanta. The construction firm is PJ Dick.

The new complex is expected to be completed in August 2019, in time for the fall semester.

Read the original press release here.

Signet Chairman, Tony Manna featured in Smart Business Online Dealmakers

As principal and chairman at Signet LLC, Anthony Manna owns 27 companies and has a wealth of experience making deals to buy, sell and build successful businesses. But to this day, the most significant transaction of his career remains his effort to bring minor league baseball to the city of Akron.

“That deal put me on the map in Northeast Ohio,” Manna says. “When I completed that deal, I remember a guy told me, ‘Your whole life is going to change because of this deal and the notoriety that comes with it.’ He was absolutely right about that.”

On April 10, 1997, the Canton-Akron Indians became the Akron Aeros and played their first game at Canal Park. Manna played a lead role in relocating the Indians’ Double-A affiliate and getting the new ballpark constructed in downtown Akron. Now known as the Akron RubberDucks, the team has become a must-see summer entertainment option for baseball fans across Northeast Ohio.

The biggest challenge in making Akron baseball a reality was that Manna had to chart his own course to get a deal done.

“It was having the initiative to go out and do it when no one else that I dealt with had any experience developing a stadium,” Manna says. “You learn quickly that it’s a team approach. No one person is more important than the other. I learned valuable lessons about the teamwork that was needed to get that transaction done.”

As Manna was bringing baseball to Akron, he was also building Signet, which he founded in 1995. The company has done about $4.5 billion in total real estate development and currently has more than $400 million in assets under management. Dealmaking has played a key role in all his business endeavors.

“I love the competition,” Manna says of dealmaking. “I love the fact that you get in and meet unbelievably great people, people who want to achieve the same things. You’re constantly trying and it’s the challenge, the competition of it. Sometimes it’s a turnaround situation or sometimes you’re just trying to grow the organization. It’s a lot of fun.”

We spoke with Manna about his approach to dealmaking, the team he’s built to vet and often take the lead on potential opportunities and the key role that pillow talk can play in the success or failure of a business transaction.

Dealmaking 101

Be upfront about your interest level in a potential deal. My standard line is if I get the information that I’m looking for, I will give you a yes or no answer of our interest within seven to 10 business days. That way, the other side doesn’t have to waste time if we don’t have an interest. If we do have an interest, we can get further information and go through the due diligence process. We’re always in a state of readiness and trying to filter out the opportunities we’re not interested in as quickly as possible so we can focus on the ones we want to take a deeper look at.

There is the old saying that culture eats strategy for lunch. But you can’t have a culture unless you’re communicating. Jack Welch would always say that in his 20 years at GE, he only had six initiatives. He spent the rest of his time communicating those initiatives. We’re constantly working at an organizational level on culture, but primarily through communication.

At the individual level, you’re constantly looking for competence and character that can support long-term investments. I’ve always said competence is relatively easy to find, but character can be very difficult to find. If you can find it, your long-term investment is probably in pretty good hands. My day-to-day activity is really focused on those types of things as we’re going through the process. The last piece is continuously talking to people in our network as deals come in. We’re not only looking for M&A deals, but we also look for real estate deals from the development side. We’re constantly looking at what’s out there and whether there is a fit.

Know what you want in a deal

In the deal where we brought minor league baseball to Akron, I always tell the story that the owner wanted to move the team to Worcester, Massachusetts. At the time, I was 33. I flew down to his home on my own and said I wanted to bring the team from Canton to Akron. We sat there for several hours where he told me what he wanted. Then he said, ‘OK, Tony. What do you want?’ I said there were three things I wanted. First, I wanted to develop the stadium. We talked about all that included and we worked it out. He asked, ‘What’s the second thing?’ I said, ‘You were going to have 24 suites. I’m going to add a 25th suite that I’m going to build myself to have for life.’ He said, ‘OK, what’s the third thing?’ I said, ‘I’m also a father. If any of my kids want to work at the stadium during the summer, you have to give them a job.’ So that was actually written in our contract.

Build a strong team

My partners Ken Krismanth, Mark Corr and John Helline are very good at doing deals. Several of the deals, once they get going, I’ll turn it over to them and frankly, I don’t have to have much involvement at all. What I’m going to be focusing in on are deals that we’re just getting started on, maybe some difficult situations where we have to start deciding are we going to go after this or aren’t we?

Turnover is the most expensive thing you can have in business. Many of the guys in our company have been with me 20 or more years. I believe that driven, smart people do not want to be managed. You have to give them the highway and make sure they follow the highway, but you have to find people who are driven. I like people who are respectfully candid. You want to have people who can express their opinions about the direction we’re going on a particular deal and can make sure that everybody can think through it.

The best way to make sure you have a long-term commitment is to have employees eventually become partners in the deals. As an example, we’ve had several businesses we’ve owned for 15 or 20 years. The management team, we have them invested in the deal. If they don’t have the money, we loan them the money to get in. People move up and become shareholders. I think that’s an incredible way to have long-term value add.

The Last Word

We own 27 companies and 12 of them have been startups. We were doing this one particular startup where we were searching for a CEO to run it. I was in China and I got a call from Ken Krismanth, who is now our CEO. He thought he had found a guy to run the business. I said, ‘That’s great. When I come back to Akron, give me a couple days and then have him fly in from Washington, D.C. Make sure he brings his wife.’ He says, ‘His wife?’ I said, ‘Absolutely.’ We sat down and I didn’t even bother talking to him. I just talked to his wife. I said, ‘You’re probably wondering why you’re here. It’s because you’re the key to getting this deal done.

‘I believe the most powerful talk in all of business, and the most dangerous, is pillow talk. If every night, you’re chirping in your husband’s ear that you shouldn’t have done that deal with Tony Manna, when the going gets tough with this startup, and believe me, the going will get tough, he’s going to quit. Now is your chance to sit through the entire day. If at the end of the day, you think I’m a jerk and you don’t think your husband should do this deal, I’ll be the first one to tell your husband we’re not doing the deal.’ The company has been very successful. In the early going, when it was really tough, she was the one who kept him together. I learned very quickly that business is a family affair.

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