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Houston Business Journal
Why Houston is a hot spot for burgeoning industrial sector
Sunny days are coming for U.S. power grids, and Houston could be well positioned to manufacture parts of the solar panel supply chain.<\p> The Houston area is set to add nearly 500 jobs between two international companies that are launching their first U.S. manufacturing plants in the Bayou City. <\p>
New CEO hired for business boosted by batteries
After announcing a first-of-its-kind lithium facility last month, Houston- and Vancouver-based International Battery Metals Ltd. (CSE: IBAT) has a new CEO with plans to expand globally.<\p> Iris Jancik will take on her new role in mid-August, focusing on expanding the commercial deployment of the company’s patented modular direct lithium extraction (DLE) plants. <\p>
Buyers on big Uptown deal talk logistics
Apache Corp.’s recent sale of a prominent Uptown property to a trio of local businessmen resolved years of speculation about what would become of the highly visible parcel. <\p> But two of the property’s buyers say the deal has been years in the making. <\p>
Industrial developer fills 9-acre Greenspoint site
The Greenspoint area is getting another industrial development.<\p> Houston-based Griffin Partners started construction in April on Carter Crossing, a 131,171-square-foot speculative distribution warehouse at 1444 Greens Parkway, near the 971-acre Pinto Business Park at Beltway 8 and Interstate 45.<\p>
New $5B accounting giant formed
Accounting firms Forvis LLP and Mazars Group have finalized their partnership, creating a $5 billion giant in the deal.<\p> Forvis and French giant Mazars initially announced their plans for a combination in November 2023. They announced on June 3 the deal closed, creating a two-member network with more than $5 billion in combined global revenue. Forvis acquired the U.S. unit of Mazars, forming Forvis Mazars LLP as one of the two members. The other member, an international partnership called Forvis Mazars Group SC, operates in more than 100 countries and territories.<\p>
Longtime leader of local regional sports network departs
The former general manager for Space City Home Network, Houston's regional sports network jointly owned by the Astros and Rockets, has a new role.<\p> David Peart left the network in March after spending nearly a decade in Houston, Peart confirmed to the Houston Business Journal. He was named the club president of Rhode Island FC, which is competing in its inaugural season in the USL Championship soccer league, on May 31 and will join the franchise in mid-June. <\p>
Galleria area to add high-end steakhouse
Denver-based The One Group (Nasdaq: STKS) is preparing to open its first STK Steakhouse location in Houston. <\p> The company has submitted a filing to the Texas Department of Licensing and Regulation outlining plans to build out a 12,437-square-foot space at 5251 Westheimer, next to The Galleria, for the new location. 5251 Westheimer is also home to a P.F. Chang's location.<\p>
Waste co. to make $7.2 billion acquisition
One of Houston’s largest publicly traded companies is expanding into the growing health care market with a $7.2 billion acquisition.<\p> Houston-based Waste Management Inc. (NYSE: WM) will acquire Illinois-based medical waste company Stericycle Inc. (Nasdaq: SRCL). The transaction is expected to close as early as the fourth quarter of 2024 and includes Stericycle’s $1.4 billion in net debt. <\p>
Small-business grants you can apply for this month
Despite the seemingly endless number of challenges that come along with being a small-business owner, the vast majority of entrepreneurs recommend it. <\p> A survey of employed adults and small-business owners by Justworks and The Harris Poll earlier this year revealed that 93% of small-business owners would recommend business ownership to others, with 59% saying it was easier than they had anticipated. <\p>
See inside just-sold $5M mansion (PHOTOS)
A Memorial Villages home listed for nearly $5 million was the biggest residential real estate sale for the week of May 19, according to the Houston Association of Realtors. <\p> After spending 199 days on the market, 11215 Lacewood Lane was sold on May 20. It was listed for $4.85 million, according to the listing on HAR.com. HAR does not disclose the exact sale price. The home could have sold for over $5 million though, per the listing.<\p>
See Houston's largest law firms
Houston's big-name law firms are almost exclusively in the energy business. Their work involves facilitating huge transactions, as Gibson, Dunn & Crutcher did for Pioneer in its deal with ExxonMobil. It also includes helping clients navigate an uncertain regulatory landscape.<\p> But some specialty firms fill in the other legal niches. Houston Business Journal conducted its annual survey of law firms in January to compile data for its specialty law firms lists. <\p>
Nominate your team for Best Places to Work
The Houston Business Journal is continuing to take nominations for our annual Best Places to Work — but time is running out. Best Places nominations will now be accepted until June 14. <\p> In case you missed last year’s event, it’s always quite the party. Last year, we had a cruise theme (check out the winners and festivities in the pictures below), and as usual, a very enthusiastic crowd of honorees from the 100 companies that made our rankings.<\p>
Grocer out; pickleball in
Four years after losing its Randalls, a neighborhood shopping center in Clear Lake is getting a new anchor.<\p> Houston-based Partners Real Estate, which acquired the 98,522-square-foot Bay Pointe Shopping Center at 2323 Clear Lake City Blvd. in late 2021, said it has signed Elite Pickleball Club to fill the space left by Randalls in early 2020.<\p>
Only 1 Houston co. makes Time 100 list
A Houston company that made history this year continues to draw recognition, but the wheels are already moving on an encore.<\p> Intuitive Machines (Nasdaq: LUNR) was the only Houston-headquartered company to be selected for the 2024 Time 100 Most Influential Companies list released on May 30. The company was selected in Time’s “Pioneers” category. <\p>
Aviation museum names new CEO
The Lone Star Flight Museum has promoted its COO to the president and CEO roles, replacing the leader who brought the museum to Ellington Airport.<\p> Anna Hawley succeeds the retired Lt. Gen. Doug Owens, who had served as CEO since 2017. Hawley took the post of COO in 2022 but had served in marketing and communications roles with the museum since 2019.<\p>
Stages taps new artistic director
Houston performing arts organization Stages has named Derek Charles Livingston as its new artistic director, a hire that marks one of the first Black men to lead a top-tier Houston arts organization.<\p> Livington is stepping into the role previously held by Kenn McLaughlin, who is retiring from Stages in June after 23 years with the performing arts organization. <\p>
Golf event expects huge turnout
LIV Golf, the upstart golf league backed by the Saudi Arabian sovereign wealth fund, is expecting a big turnout for its Houston event June 7-9.<\p> The tournament is on pace to be in the top third of attendance for LIV Golf events this year, said Troy Tuff, senior vice president of ticketing and hospitality. LIV Golf has sold out some of its premium hospitality options for the weekend and expects more sellouts leading up to the event. The league is seeing above average demand for hospitality in Houston compared with other events, Tuff said.<\p>
More workers are staying with their current employer in 2024
Most U.S. employees are now choosing to stay with their jobs instead of looking for new ones, a sharp turnaround from the job reshuffling that was common during the Covid-19 pandemic. <\p> A new survey by global advisory firm WTW found 72% of employees are choosing to stay with their employer — up substantially from the 53% who said the same thing in 2022. Back then, about 25% of workers were open to job offers, compared to just 11% now.<\p>
Largest Pearland industrial park ever breaks ground
Houston-based Levey Group has started construction on the largest industrial park in Pearland, according to the company.<\p> Levey Logistics Park is located on a 38-acre tract at 14699 Almeda School Road in Pearland’s Lower Kirby District.<\p>
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