WHAT’S GOING ON
– Sedgwick, a top global provider of technology-enabled risk, benefits and integrated business solutions, has acquired York Risk Services Group, a provider of claims administration, managed care, specialized loss adjusting, pool administration and loss control solutions. The strategic acquisition brings to Sedgwick about 5,000 skilled professionals serving a variety of clients, including corporations, the insurance industry and public entities. With the close of the acquisition, the Sedgwick family now has nearly 27,000 colleagues across 65 countries.
As part of the transaction, entities controlled by Onex Corporation (TSX: ONEX), an investment manager founded in 1984 that owned York, are rolling their equity into the combined business and join Sedgwick’s shareholder group as a minority investor. BofA Merrill Lynch and Morgan Stanley & Co. LLC served as financial advisors to Sedgwick, and Simpson Thacher & Bartlett LLP and Clifford Chance US LLP served as legal advisors.
– The U.S. Small Business Administration is accepting nominations for its 2020 National Small Business Week Awards, including the annual Small Business Person of the Year. National Small Business Week has celebrated the achievements of America’s small businesses for more than 50 years. For categories and deadline information, go here.
NEWS FROM OTHER SOURCES
– For 50 years, the Community Foundation has been essential in helping fund health, education, the arts, the environment, religion, and more in Memphis. Read Toby Sells’ story in the Memphis Flyer here.
– FedEx SameDay Bot Roxo met Memphis Mayor Jim Strickland at City Hall this week. Is this the future? Read Wayne Risher’s story in the Daily Memphian here.
– Spectra Laboratories will open a 200,000-square-foot lab in Southaven’s Stateline Business Park with an eye to hiring 300. Red Jacob Steimer’s story in the Memphis Business Journal here.
– The planned Loews convention center hotel moves forward even with a lawsuit dogging it. Read The Commercial Appeal story by Desiree Stennett and Samuel Hardiman here.
– Outlook 2019 summit presented by Paragon Bank: How consumers view the local economy through the Outlook 2019 Memphis Economic Study. Tuesday, September 17th, 4 p.m. Free. Memphis Botanic Garden, 750 Cherry Rd. Find out more information here.
– Inside Memphis Business Innovation Awards: The magazine’s annual celebration of innovative people and organizations honors four winners. Friday, September 27th at University of Memphis Holiday Inn, 7:30 a.m.-9 a.m. For tickets, go here.
– 3rd Annual Total Woman Summit: Sherica Hymes’ event empowers women through education, connection, and community with this year’s theme of SOARing in every phase of life. Saturday, September 28th, 10am-3pm. Great Hall & Conference Center, 1900 S. Germantown Rd., Germantown, TN. $75/person; $1,000/VIP table. Register here.
– Need to know what to do this weekend? Check out Memphis Magazine’s Five Things To Do This Weekend here.
THE HOT SHEET
Who’s getting promoted? Who’s closing big deals? Who’s getting awards? Inside Memphis Business magazine’s Hot Sheet has the latest on milestones in Memphis.
– Campbell Clinic opened Accel Performance and Wellness, an 11,000 square-foot training and rehabilitation center at 7887 Wolf River Blvd. in Germantown.
– Stephanie Jones (pictured) joined Christian Community Foundation as director of donor relations.
– Memphis-based Winter Innovations won first place and $25,000 at the sixthLouisiana Startup Prize in Shreveport, Louisiana. The sports medicine start-up presented innovations to surgical stitching methods via a two-part hollow needle.
Inside Memphis Business magazine publishes a list of local Power Players every year. These are the movers and shakers in more than 30 categories who get things done in their respective fields. IMB’s April issue has the complete list. We also publish individual categories in other issues throughout the year, and we feature individual Power Players in our weekly Tip Sheet.
This week’s Power Player is Howard Robertson:
Principal and CEO, TRUST Marketing & Communications, Inc. Oldest African American-owned marketing firm in this part of the country. Client roster has included City of Memphis, Methodist-LeBonheur Healthcare, Durham School Services, Shelby County Government, Memphis-Shelby County Airport Authority, and others. Board experience with Hattiloo Theatre, Laurinburg Institute in North Carolina. Past chairman, Soulsville Foundation, Memphis in May.
“We are responding to what we’re hearing from the community and what our community volunteers are saying they want to fund.”
– Sutton Mora Hayes, executive vice president of the Community Foundation of Greater Memphis via the Memphis Flyer.