Houston's economic diversity Thread .. (Dallas, Baytown: authority, estimated, stations)

[Jack Lance]

Katy-based Igloo to be bought by Swedish company


Tracy Maness / Staff photo

A Swedish company will buy the Katy cooler manufacture Igloo Products for $677 million as it seeks to tap into the growing market for outdoor recreation and sports.
Igloo, one on the nation’s largest makers of coolers and ice chests, reached a deal last week with Dometic, a supplier of travel and recreation gear, according to Dometic. The acquisition will strengthen Dometic’s outdoor offerings and distribution network in North America, the Swedish company said.

Igloo grew faster than its main competitor, Yeti of Austin, during the pandemic, Powell said. Igloo, which has about 1,100 employees, reported $401 million in revenue over the last year, according a news release. The deal is expected to close by the end of the year.

Powell said he expects Dometic will provide the money that Igloo needs to grow as people look for ways to extend their lives into their backyards. Dometic reported sales of about $1.9 billion (16.2 billion Swedish krona) in 2020.

Katy-based Igloo to be bought by Swedish company (houstonchronicle.com)

[ParaguaneroSwag]

Originally Posted by ParaguaneroSwag

Saw this earlier. I grew up on Logan’s Roadhouse when I lived in Louisiana for a few years. Too bad they don’t have any of their locations in Houston. Hopefully they’ll open one for nostalgic purposes now that their home offices are here.

Originally Posted by LocalPlanner

They've had locations here. I don't know if they still do. There was one on SH 6 near my house, but it closed, as have many restaurants on that road.

I saw this in the news today. Logan’s Roadhouse is doing a next gen concept here. Can’t wait to try it. This was our spot in Louisiana

https://www.fsrmagazine.com/chain-re...totype-houston

[Jack Lance]

Flightaware who we have posted on several times and one of my favorites, is being acquired by Raththeon.

Houston-based global aviation data services company Flight Aware will soon be acquired by areospace and defense company Raytheon Technologies, according to a press release.

Neither company released financial terms of the deal and the deal is still subject to closing conditions and regulations.

Daniel Baker, the founder and CEO of FlightAware Tuesday, Jan. 21, 2020, in Houston.
Steve Gonzales, Houston Chronicle / Staff photographer

FlightAware, founded as a side-project by local software engineer Daniel Baker when he was 22, helps airlines schedule crews, assign planes to gates and organize de-icing work in real time. It also helps corporate aviation departments monitor gets and coordinate ground services, while giving customers up-to-date information on their plane’s location and expected arrival time. Since its founding in 2005, it has grown to become the world’s largest flight-tracking and data platform.

Zacks Equity Research reports that many large defense corporations are acquiring new companies to expand and diversify their offerings. Raytheon’s Collins Aerospace already offers flight-control systems, which could be why they sought to acquire FlightAware.

FlightAware currently has about 130 employees, many of whom are based in Houston. The press release did not say how the merger would affect exisiting employees.

Houston-based FlightAware acquired by aerospace and defense company (houstonchronicle.com)

[ParaguaneroSwag]

Here’s something interesting. Stewart Title Insurance is acquiring their partners in NorCal. With this acquisition, Stewart as well as the housing boom that grows the demand for Title Services, Stewart is inching into Fortune 500 status. https://www.businesswire.com/news/ho...ern-California

This would be Houston’s first F500 Financial Services company.

[As Above So Below...]

Originally Posted by Jack Lance

Flightaware who we have posted on several times and one of my favorites, is being acquired by Raththeon.

Houston-based global aviation data services company Flight Aware will soon be acquired by areospace and defense company Raytheon Technologies, according to a press release.

Neither company released financial terms of the deal and the deal is still subject to closing conditions and regulations.

Daniel Baker, the founder and CEO of FlightAware Tuesday, Jan. 21, 2020, in Houston.
Steve Gonzales, Houston Chronicle / Staff photographer

FlightAware, founded as a side-project by local software engineer Daniel Baker when he was 22, helps airlines schedule crews, assign planes to gates and organize de-icing work in real time. It also helps corporate aviation departments monitor gets and coordinate ground services, while giving customers up-to-date information on their plane’s location and expected arrival time. Since its founding in 2005, it has grown to become the world’s largest flight-tracking and data platform.

Zacks Equity Research reports that many large defense corporations are acquiring new companies to expand and diversify their offerings. Raytheon’s Collins Aerospace already offers flight-control systems, which could be why they sought to acquire FlightAware.

FlightAware currently has about 130 employees, many of whom are based in Houston. The press release did not say how the merger would affect exisiting employees.

Houston-based FlightAware acquired by aerospace and defense company (houstonchronicle.com)

I don’t know if this is good news.

[ParaguaneroSwag]

Originally Posted by As Above So Below...

I don’t know if this is good news.

Acquisitions aren’t necessarily a bad thing. They aren’t necessarily good but bad either. They can be either good or bad for the company acquired. They do one of 3 things

1. Give the company extra capital and intellectual knowledge to grow, hire more employees, etc. Academy was an example of this. They are independent now but their rapid growth was done under KKR.

2. Consolidate, bring in layoffs and cut costs across the board. Keeping it retail, see Foley’s.

3. Have little effect at all and just become part of the parents portfolio and no direct layoffs or growth. Again staying retail, see Francesca’s

Not sure where this deal falls in the spectrum though. Based on the set up of Raytheon, the third seems most likely.

[Jack Lance]

Originally Posted by As Above So Below...

I don’t know if this is good news.

As Above,I wanted to ask you what is a "get" in the context of this quote from the Flight Aware article, "It also helps corporate aviation departments monitor gets " ? I'm being lazy, but I know you know.

To answer your question I think this increases Ratheons presence in Houston who is listing 45 jobs positions in Houston as we speak.

https://www.google.com/search?q=rath...state=tldetail

[ParaguaneroSwag]

Originally Posted by Jack Lance

As Above,I wanted to ask you what is a "get" in the context of this quote from the Flight Aware article, "It also helps corporate aviation departments monitor gets " ? I'm being lazy, but I know you know.

To answer your question I think this increases Ratheons presence in Houston who is listing 45 jobs positions in Houston as we speak.

https://www.google.com/search?q=rath...state=tldetail

I’m 90% sure this is a typo meaning “jets”. Since monitoring jets is, after all, their business.

[Jack Lance]

Originally Posted by ParaguaneroSwag

I’m 90% sure this is a typo meaning “jets”. Since monitoring jets is, after all, their business.

Para excellent reasoning, you looked for the simplist explaination first. I thought it may have been some inside jargon, but your probably right. I put to much trust in the Chronicles proof readers..

[Jack Lance]

Drone tech co. Soaring Eagle Technologies plants HQ in Houston

A company focused on data collection services for unmanned aerial systems has planted its headquarters in Houston.

Soaring Eagle Technologies was formed this year through the combination of Mississippi-based aerial imaging company Soaring Eagle Imaging and Arizona-based mapping and infrastructure data firm Skynetwest. Soaring Eagle Technologies is a portfolio company of Houston-based Iapetus Holdings LLC, an investment firm with a portfolio of energy service companies and other alternative investments.

The combined company, headquartered in Houston, provides technology services for utility, energy and infrastructure asset inspections, including infrared thermal imaging, aerial mapping and more. Soaring Eagle's services have been deployed in situations to inspect power-grid infrastructure, vegetation management, storm response, controlled-burn fire overwatch, wildlife and fishery management, and search and rescue, the firm said.

Iapetus Holdings has five other operating companies in its portfolio outside of Soaring Eagle Technologies: Atlas Field Services, Atlas Retail Energy, Atlas Commodities, Gold Coast Utility Specialists and Hyperion Safety Environmental Solutions.

https://www.bizjournals.com/houston/...hq-drones.html

https://soaringeagle.com/