Latest news with #Welling
Daily Mirror
24-05-2025
- Business
- Daily Mirror
Iceland confirms exact closure dates for two UK supermarket stores
The supermarket said it had entered into a consultation process with workers at the affected Iceland stores, and both groups have been offered other roles within the businesses Two Iceland stores will be closing for good in the coming few weeks. The first site closing will be its store in Margate which is pulling down the shutters in June. The second will be the branch in Inverness. The Margate site has been located on Rose Street in College Square for the last decade, and is scheduled to shut next month on June 21. The chain's Inverness store - which is located at Rose Street Retail Park - is earmarked for closure on July 12. Iceland has not confirmed the reasons behind the closure of both sites. It's important to note that retailers and supermarkets close stores for a variety of reasons, and it doesn't just mean they are in trouble. Some close because the tenancy has come to an end on the site, or because the branch is not as profitable as others. The supermarket said it had entered into a consultation process with workers at the affected Iceland stores, and both groups have been offered other roles within the businesses. Iceland has closed a handful of stores over the last few months, which included its Welling branch in London., as well as its stores on Shenley Road, Borehamwood and Alphington Road Retail Park in Exeter. In February, Iceland closed its Derby Shopping Centre branch, however, this was relocated to the nearby London Road. The retailer has also recently opened a brand new supermarket site in Derby. This week, the retailer unveiled its new store at Victoria Chambers on London Road on Tuesday, May 20. The frozen food retailer said the new Iceland store expanded its product offering to give local residents an "all-new shopping experience". Join Money Saving Club's specialist topics The new opening joins Iceland's other branches in the area, including its Iceland store in Chaddesden and The Food Warehouse store in Kingsway Retail Park. The new supermarket store is open from Monday to Saturday from 8am until 8pm, and from 11am until 5pm on Sundays. Earlier this year, the company announced plans to open 20 Iceland and Food Warehouse stores by the end of April. At the time, the group's bosses claimed that its new 500,000 square foot £100million distribution centre in Warrington would be "game-changing" for the business. The Omega Park Site in Warrington - which opened in partnership with GXO in February - supplies around 350 Iceland stores across the north west of England, the Scottish borders and Wales.
Calgary Herald
14-05-2025
- Business
- Calgary Herald
Is it better to finish the basement as part of the build or later on?
Article content It's often a top-of-mind conundrum for buyers of new build homes — whether or not to have the builder finish the basement during the new build process or wait and either DIY it or have a contractor do it at some point down the road. Article content Article content 'I get calls from people all of the time asking this and it's a great question,' says Tom Welling, general manager of renovations at Renova Homes and Renovations, a Calgary-based home builder and renovator, noting that he has experience creating basements as both a new home builder and as a renovator. Plus, he is a former new home warranty inspector. 'So I've seen it all when it comes to basements — the good and the bad,' he says with a laugh. Article content Article content 'I think you have to think of it from this perspective: You've got a builder building your house and this is the same challenge whether you are building a custom home or renovating. The initial price shock scares people. So, then they are counting their beans and then they say: 'You know what? We're are going to put off the basement development.' And then they take possession of the house and wish they had done it,' says Welling. Article content Article content The cost of finishing the lower-level will definitely add to the home-building budget, but it is typically money well-spent. It increases a home's value and if the lower level is designed as a legal secondary suite, the financial return as a mortgage helper can be significant. Article content Plus, there is the convenience of having the basement completed when you take possession, allowing you and your family utilize the space. Article content It's possible to roll the cost of the basement into the home's overall financing, but for many, qualifying at the higher value (with the asset value of the finished basement) may be an issue. Article content 'But know that the price of finishing the basement after a home is built is going to cost you $30,000 to $40,000 more,' says Welling. 'So you need to weigh that out. To do the construction in the new build cycle, it is much less expensive. When you wait until after, it's like doing a full renovation after you've just built your house. You have to bring all of the trades back on site.' Not to mention the noise and the dust. Article content But, if you decide to wait, there are several pluses to this scenario. The first being that waiting to finish the lower level gives the home's foundation time to 'cure,' and settle and any cracks or leaks in the lower-level will be obvious in the unfinished state. Secondly, it allows the homeowner to get a feel for how the lower-level space will be used by the family, which isn't always apparent from the get-go. This is key to creating a good design that works for the home's flow and for optimum use of the space. The third plus is that it allows for more time to save for the construction and finishing.
Business Wire
08-05-2025
- Business
- Business Wire
Mercer Advisors Celebrates Key Milestones in Expanding Partnership
DENVER--(BUSINESS WIRE)-- Mercer Global Advisors, Inc. ('Mercer Advisors'), a national Registered Investment Adviser (RIA), today announced the milestone of welcoming its 100 th M&A partner since initiating its inorganic growth strategy in 2016. Over the last nine years, Mercer Advisors has established itself as one of the premier integrators of growth-oriented, fiduciary-based advisors dedicated to enhancing their clients' financial lives. Integrating 100 M&A partners to date has enabled Mercer Advisors to scale its fully integrated family office platform, making sophisticated wealth management services accessible to more families across the country. Each partner embraces Mercer Advisors' planning-first philosophy aimed at supporting better financial outcomes. Advisors and their teams are empowered to deliver exceptional personalized care to clients with the full support of in-house specialty teams such as tax and estate planning, a 100+-person investment team, operational support resources, and enterprise-grade technology and infrastructure. 'Every partner firm that has joined Mercer Advisors has significantly enriched our culture, enhanced our ability to serve existing clients, and enabled us to reach even more families who can benefit from our services,' said Dave Welling, CEO at Mercer Advisors. 'Each new partner becomes a co-architect in crafting what our clients deserve and what the market sorely lacks – an elevated client experience where we strive to build a family office around every client we serve. In our model, integration leads to empowerment, enabling these firms to serve clients, create opportunities for their teams, and leverage their specific expertise on local markets, client segments, and more to drive future growth.' Partner Firms Expand Depth As new partners join, Mercer Advisors adds capacity, talent, geographies and capabilities. For example: Geographic leadership: Mercer Advisors went from having an $800 million office in Atlanta to now having over $5 billion in client assets in the area, driven by several strategic acquisitions and robust organic growth. Tax Expertise: The company has integrated seven firms with tax practices, building out and enhancing its in-house tax planning and preparation team (now 80 professionals strong). UHNW Family Office: The integration of several multi-family-office RIAs has augmented the company's UHNW service model and private markets expertise. Employee Ownership Unifies Culture Under the leadership of Welling and President Daniel Gourvitch, Mercer Advisors has expanded opportunities for all employees, not just selling principals, to be owners in the company through a variety of equity programs. As an example, all full-time employees have the opportunity to participate in the company's Path to Partnership employee stock purchase program. Today, approximately half of the company's employees are equity owners, supporting a singular mission and one-team culture. 'We're proud to have built a true partnership of professionals who have decided to work together with a shared belief that we can deliver better outcomes for families by working as a unified team,' said Gourvitch. 'The promise of Mercer Advisors to our clients is larger than what any one of us could deliver or achieve on our own or in a smaller group.' Nancy Hughes, CFP®, Senior Wealth Advisor and employee shareholder, who joined Mercer Advisors through the acquisition of Waypoint Capital Advisors in the fall of 2024, is one example of hundreds of advisors who have been able to provide greater value to clients since partnering with the firm. 'As we were looking at partners, we had three criteria – it needed to be better for our clients, our team, and our partners – and in that order,' said Hughes. 'In such a short amount of time, we have already experienced the benefits of deeper resources for our clients, including private market investments due diligence, tax planning capabilities, and estate planning solutions. From the moment we met, we immediately realized Mercer Advisors exceeded our expectations in all three areas.' Mercer Advisors remains very active and interested in adding more like-minded partners to its team. Led by Martine Lellis and Ted Motheral, Mercer Advisors' M&A Partner Development team is responsible for helping potential partners understand the benefits for clients, employees, and themselves of joining one of the leading RIAs in the country. About Mercer Advisors Mercer Advisors, the #1 ranked RIA firm in the nation according to the Barron's 2024 Top 100 Registered Investment Advisor Firms, was founded in 1985. For 40 years, Mercer Advisors has been trusted to help families amplify and simplify their financial lives. The company offers comprehensive, fee-based family office services, including financial planning, estate and tax planning, insurance solutions, and corporate trustee and trust administration services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors, Inc. and is majority owned by Oak Hill Capital, Genstar Capital, and Altas Partners. Mercer Global Advisors, Inc. is headquartered in Denver, Colorado, is privately held, has 1,270+ employees, and operates nationally through more than 100 locations. Mercer Advisors has $71 billion in client assets. For more information, visit and Important Information Company statistics as of March 31, 2025. Client assets refers to client assets under management (AUM) and client assets under advisement (AUA) as well as assets gained from recent acquisitions where the advisory agreements have been properly assigned to Mercer Global Advisors, but the custodial accounts have yet to be transferred and/or the accounts have yet to be migrated to Mercer Global Advisors' portfolio management system. Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning documentation preparation and other legal advice is provided through select third parties unaffiliated to Mercer Advisors. Tax preparation and tax filing are a separate fee from Mercer Advisors' investment management and planning services. Trustee services are offered through select third parties with which a client would engage directly, as such additional fees may apply. Mercer Global Advisors has a related insurance agency. Mercer Advisors Insurance Services, LLC (MAIS) is a wholly owned subsidiary of Mercer Advisors Inc. MAIS provides individual life, disability, long term care coverage, and property and casualty coverage through various insurance companies. For Mercer Global Advisors clients who wish to purchase insurance products, MAIS has entered into a non-exclusive referral agreement with Strategic Partner(s), where the Strategic Partner will provide necessary services relative to the marketing, placement, and servicing of the insurance products, including without limitation preparing and presenting illustrations, supporting the underwriting process, assisting with the completion and execution of applications, delivering policies, and servicing in-force business. MAIS and the Strategic Partner will be listed as either 'agents' or 'co-agents' on the policies. While Mercer Global Advisors does not receive a referral fee, Strategic Partner receives a percentage of the commission revenue. MAIS and Strategic Partner do have a revenue sharing agreement. 2024 - Barron's Top 100 RIA methodology Mercer Advisors was ranked number 1 for firms with up to $70 billion in client assets. In 2024 Barron's ranked the largest registered investment advisor firms separately from its broader RIA ranking. For Barron's Mega RIAs list, they selected firms that manage 2% or more of the total assets of all ranking applicants. This year, that created a threshold of $70 billion in assets. Advisers who wish to be ranked fill out a 100+ question survey about their practice. Barron's verifies that data with regulatory databases and then Barron's applies their rankings formula to the data to generate a ranking. The formula features three major categories of calculations: (1) Assets (2) Revenue (3) Quality of practice. In each of those categories Barron's does multiple sub calculations including asset type, growth, client retention, technology spending, succession planning, diversity of their teams, charitable and philanthropic work and compliance records. No fee was paid for participation in the ranking, however, Mercer Advisors has paid a fee to Barron's to use the ranking in marketing. Neither rankings and/or recognitions by unaffiliated rating services, publications, media, or other organizations, should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Mercer Advisors is engaged, or continues to be engaged, to provide investment advisory services. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser. Rankings are generally limited to participating advisers (see participation criteria/methodology). Unless expressly indicated to the contrary, Mercer Advisors did not pay a fee to be included on any such ranking. No ranking or recognition should be construed as a current or past endorsement of Mercer Advisors by any of its clients.
Mint
08-05-2025
- Business
- Mint
Bain Capital-backed Indian chemicals firm eyes US expansion after key acquisition
Novopor Advanced Science Pvt. Ltd, a Bain Capital portfolio company manufacturing specialty chemicals, is looking to expand its footprint in the US after chalking up its first acquisition in the country. Hyderabad-headquartered Novopor wants to establish itself as a leading global contract development and manufacturing organization (CDMO) in the performance or specialty chemicals and material sciences space, chief executive Radhesh Welling said. 'Now, to be able to do that, we have identified certain unique and relevant capabilities that we need to develop or acquire," Welling said, adding that there was a huge addressable global market for performance chemicals that the company aims to tap. 'We have a huge potential upside here… Unlike agrochem or pharma, it's not a space that is overcrowded." A CDMO provides various services to pharmaceutical companies for drug development and manufacturing. The global specialty chemicals market was valued at $640.8 billion in 2023 and is projected to grow to $939.7 billion by 2031, according to Statista. India's overall chemical industry was valued at $250 billion, according to a EY report in December. On Wednesday, Novopor announced the acquisition of US-based Pressure Chemical Co., an affiliate of the Belgium-headquartered Minafin Group and a leading provider of high-pressure and specialty chemistry services, for an undisclosed amount. Also read | Why Trump's trade war with China is bad news for Indian chemical exporters '(Pressure Chemical) has some very unique capabilities with respect to specialized high-end polymerization, organic synthesis, etc… A lot of these capabilities are just completely absent in India," Welling said. 'The main reason was to acquire some of these unique and relevant capabilities. By doing that we can actually strengthen our overall value proposition to the customers we are looking to target in the performance chemical and electronic chemical space," he added. Novopor does not directly export to the US, although a large number of its clients are based in the US, Welling said. The Pressure Chemical acquisition will help build trust in the US market as Novopor looks to target other global customers, he added. Pressure Chemical has a mid-sized manufacturing presence in the US, which the company might evaluate for scaling up later, Welling said. Novopor is also evaluating other strategic acquisitions. 'There are a few in Europe, few in India, but most of them are in the US… There are things in the pipeline in various stages," Welling said. In 2023, US-based Bain Capital Private Equity acquired a majority stake in Novopor, previously known as Porus Labs, for an undisclosed amount. Also read | GIC-backed Asia Healthcare Holdings to acquire Dr Dangs Labs Building partnerships Some of the challenges to global expansion in the specialty chemicals space include the capabilities companies can offer, Welling said, adding that intellectual properties (IP) are closely held by customers. A majority of performance chemical companies are focused on specific markets. A majority of performance chemical companies are focused on specific markets, and as a result there is a gap in the capabilities companies can offer, Welling said, adding that intellectual properties (IP) are closely held by customers. 'They are very reluctant to actually give this IP out. They have partnerships with some of the local companies in the US, like the one that we acquired, but typically, they don't like to work with companies outside of the Western hemisphere," Welling said. 'We have identified certain customers who potentially we would like to partner with, and we have identified certain sets of capabilities which are very relevant for these customers," he added. Novopor aims to grow profitably at an annual growth rate of about 20% over the next few years, Welling said. Crisil Ratings expects Novopor's revenue to have grown to ₹1,100-1,200 crore in 2024-25 from ₹763 crore in 2023-24. 'Operating margins also witnessed an uptick to above 20% backed by scaling up and higher contribution from high margin products," Crisil Ratings said in a February 28 note. Novopor hasn't yet filed its financial statements for 2024-25. Some of the largest Indian companies in the specialty chemicals industry include SRF Ltd, which posted a revenue of ₹13,149.7 crore for FY24 (of which 48% came from its chemicals business), Aarti Industries Ltd ( ₹7,012 crore revenue in FY24), and PI Industries Ltd ( ₹7,665.8 crore revenue in FY24). Welling expects the Indian specialty chemicals industry to see an increase in demand in about a year or two because of the ongoing trade war between the US and China. 'Companies would look at reliable Indian partners as part of a long-term strategy," he said. 'If you also have an Indian company that has a footprint in the US, it's going to be an additional benefit." Also read | Demand for weight loss drugs is growing. Can wellness companies keep up?
USA Today
29-04-2025
- USA Today
Popular Florida course near Atlantic Ocean set to reopen after $7.4 million renovation
Popular Florida course near Atlantic Ocean set to reopen after $7.4 million renovation AMELIA ISLAND, Fla. – Architect Beau Welling has completed a $7.4 million renovation of Omni Amelia Island Resort & Spa's Oak Marsh Golf Course, which originally was designed by Pete Dye and opened in 1972. The course, sitting on a barrier island less than an hour north of Jacksonville at an expansive beach resort alongside the Atlantic Ocean, will reopen to members and guests May 16. With the intent of maintaining Dye's legacy at Oak Marsh without interrupting Dye's famous design style, Welling rebuilt all 18 greens at Oak Marsh. The greens had shrunk over the years, as is typical of most courses. The greens were also covered with fresh TifEagle Bermuda grass. Other work involved covering all tees, fairways, roughs and greens surrounds with new Bimini Bermuda grass. Each bunker was rebuilt or moved to better fit the modern game on the 6,471-yard layout, and the irrigation and drainage systems were updated. Perhaps most notably, more than a dozen acres of thick native scrub that lined many fairways were removed and replaced with a mixture of sand and coquina shells, allowing more opportunity for recovery shots from the now-wider playing corridors, with the new sandy waste areas also better framing the holes. 'Our team is incredibly excited about this renovation of Oak Marsh,' Welling – a frequent design partner of Tiger Woods who runs his own architecture company, Beau Welling Design – said in a media release announcing the reopening. 'We were very mindful to preserve Pete Dye's strategy and design intent as well as elevating the playing experience for today's golfer.' Welling also built the 10-hole, par-3 course Little Sandy at Omni Amelia Island. 'We have such a great relationship with the Omni team at Amelia Island, and we hope the overall aesthetic improvements, coupled with Amelia Island's natural beauty, will truly showcase how special Oak Marsh is.'
