A Vanderbilt MBA graduate now residing in Florida has acquired Smyrna-based airplane systems company Carpenter Avionics. Mark Lee launched Momentum Aviation Holdings with the aim of buying aviation services companies. As part of his deal for Carpenter, Lee (pictured here) is retaining John DenDekker, who has been Carpenter's general manager since 2011.
“In life, a time comes when it feels appropriate to transition your business to the next generation,” said Fran Carpenter, who has served as CEO and President at Carpenter Avionics since 2010. “I am confident that with this new leadership team’s experience and vision, Carpenter Avionics will thrive and grow.”
Ashley Capital has purchased Whirlpool’s former manufacturing facility in La Vergne for $4.65 million.
It is the real estate investment company’s first acquisition in the Nashville area, according to The Tennessean.
Ashley will seek manufacturing and distribution tenants for the building, located at 1714 Heil Quaker Blvd. After renovations, the building will have 775,000 square feet of space available for lease. Three short-term tenants currently occupy about 100,000 square feet in the building, which sits on almost 53 acres, the newspaper reports.
Ashley’s strategy is to create value by acquiring and developing under-performing industrial and office properties, developing and managing new business parks, helping corporations reposition their real estate holdings and advising clients on asset enhancement, according to the company’s website.
The New York-based company was founded in 1984 and has offices in Atlanta; Chicago; Detroit; Grand Rapids, Michigan; and Norfolk, Virginia. It has about 22 million square feet of space in its portfolio, the website notes.
Whirlpool announced in January 2008 that it was closing its refrigerator factory in La Vergne, cutting 500 jobs and moving the work to a plant in Fort Smith, Arkansas.
Pinnacle Financial Partners has added Kim A. Boone as a senior vice president and trust services advisor at its financial center in Murfreesboro.
Boone has 30 years of financial services experience, spending the last 12 years at First Farmers and Merchants Bank in Columbia. She served as a senior personal trust officer in her most recent role.
Boone earned both a bachelor’s and a master’s degree in business administration from Mississippi College. She is also a graduate of the Southern Trust School.
“Kim’s extensive trust experience and industry involvement will be a tremendous asset to Pinnacle,” Robert Newman, trust services manager for Nashville-based Pinnacle, said in a release.
MidSouth Bank has recruited to its mortgage group Belinda Arender, an 11-year veteran of the local market. Arender, who will be a vice president at MidSouth, was previously VP and sales manager at F&M Mortgage in Rutherford and Wilson counties and also has worked regionally for First Tennessee and BancorpSouth. (View the bank's release here.) She joins MidSouth as the bank's leaders work toward completing their $38 million sale to Franklin Financial Network, the parent of Franklin Synergy Bank.
Five Below, which sells clothing, beauty products and accessories to teens and pre-teens, is preparing to open the doors to its first three locations in Middle Tennessee. The new stores are located at the Nashville West Shopping Center on Charlotte Pike, the Cool Springs Pointe development just north of CoolSprings Galleria and the Towne Center in Murfreesboro. Two more stores are on the way, officials say.
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