Regional Apple products reseller MacAuthority has been acquired by tech retail giant GameStop, which last year launched an aggressive push into selling more than video games. Through the deal, GameStop's Simply Mac unit adds six stores in five cities as well as locations on the campuses of Vanderbilt and Belmont. In a memo obtained by Apple Daily Report, MacAuthority CEO Mark Gregory said he will transition into a new management role as Simply Mac looks to double its store base in short order.
GameStop (Ticker: GME) acquired a minority stake in Simply Mac in the fall of 2012 and bought its remaining shares last November. Simply Mac is now part of the company's recently organized Technology Brands segment, which runs more than 270 stores. In the fiscal quarter ended May 3, that group produced an operating profit of $6.0 million on net sales of $60.2 million.
A paper and cardboard recycling facility located on Industrial Boulevard in La Vergne has been acquired by Caraustar Industries, an Atlanta-based company that is backed by private-equity firm HIG Capital. The La Vergne center had been owned by SP Recycling Southeast. Terms of the deal are not being disclosed.
Private-equity firm Pharos Capital has sold Time Domain, a company that markets ultra wideband products, to a group led by two Birmingham-based peers. Pharos had assumed control of Time Domain four years ago when the company was struggling financially.
Local behavioral health player Centerstone has wrapped up its absorption of The H Group and BBT Inc., two peers with operations in Illinois and Kentucky.
The move, which became effective July 1, connects Centerstone's operations in Tennessee and Indiana and takes the organization into the Land of Lincoln for the first time. The combined Centerstone organization now runs 146 locations that serve more than 84,000 people and has about $160 million in annual revenues.
“As we have explored bringing Centerstone and The H Group together over the past few months, we have grown even more excited about the possibilities we see to transform the delivery of care and improve the lives of people with mental illness, addictions and intellectual and developmental disabilities,” said Centerstone CEO David Guth. “It has been inspiring to see how well the missions, visions and strategic directions of our organizations align.”
Centerstone has formed two new entities to run its Illinois and Kentucky operations and named H Group CEO John Markley to be their CEO.