Tarkenton FinancialAtlanta-area retirement

planning advisor Dave Ar-linghaus and his local agen-cy DaveLife have teamed with Fran Tarkenton and Tarkenton Financial LLC, a Buckhead-based national network of independent fi-nancial services profession-als. Both companies recent-ly announced. Arlinghaus and Tarkenton Financial will work together to provide clients with tax-advantaged retirement strategies.

Tarkenton Financial was founded in 2003 by Tarken-ton, a longtime Buckhead resident and former NFL quarterback who was in-ducted into the National Football Hall of Fame. Ar-linghaus has been an active life insurance agent with a resident license in Georgia since 2010.

Information: (404) 521-8134 or www.Dav-eLife.com

Dentist honoredDr. Hugh Flax, an ac-

credited Sandy Springs cos-metic/restorative dentist and past president of the Amer-ican Academy of Cosmet-ic Dentistry, recently was elected as an associate mem-ber in the American Acade-my of Esthetic Dentistry for his contributions to the glob-al dentistry marketplace. The academy is a mem-bership-by-invitation-only organization, and there are strict requirements for entry.

Flax, a Johns Creek res-ident, was one of only 11 associate members elect-ed during the recent 38th annual Scientific Meeting in Washington. The acade-my has only 170 members worldwide. Flax also recent-ly was named an associate fellow with the American Academy of Implant Den-tistry. To become a fellow, applicants must meet strict

educational and experiential requirements and pass a rig-orous examination.

Information: www.estheticacademy.org or www.flaxdental.com

From Staff Reports

Sandy Springs-based Newell Rubbermaid has signed a definitive agree-ment to acquire Ignite Holdings LLC from North Castle Partners, a lead-ing private equity firm focused on consumer busi-nesses that promotes healthy, active and sustainable living.

Ignite is a leading de-signer and marketer of du-rable beverage containers sold under the Contigo and Avex brands. Ignite is ex-pected to deliver $125 mil-lion of net sales in 2014 and has a strong growth

track record in the on-the-go thermal and hydration bever-age containers market.

The purchase price is $308 million, subject to customary working capital adjustments. The acquisition is expected to be beneficial to Newell Rubbermaid’s growth rate, normalized operating in-come margin and normal-ized earnings per share in the first year. Newell Rub-bermaid plans to reinvest a portion of Ignite’s profitabil-ity to aggressively build the Contigo and Avex brands.

“Ignite has a great track record of growth, establish-ing a leading share position

in two of the fastest growing consumer durable catego-ries in North America,” said Michael Polk, president and CEO of Newell Rubbermaid. “Their commitment to lever-age great design to deliver differentiated products is evident in their results. The acquisition of Ignite marks the next step in the growth game plan as we transform Newell Rubbermaid into a larger, faster-growing, more global and more profitable company.”

The acquired business will become part of the Home Solutions segment with Contigo and Avex join-

ing the company’s Rubber-maid, Calphalon, Goody and Levolor brands.

The acquisition is expect-ed to be financed through a combination of organic cash flow and available borrow-ings and is expected to close by the end of the third quarter of 2014, subject to custom-ary conditions and regulatory approvals. Robert W. Baird & Co. acted as financial advisor to Newell Rubber-maid on this transaction.

By Everett Cattsecatts@neighbornewspapers.com

Since going on the mar-ket July 1, the Glenridge Hall property in Sandy Springs has been visited by about a dozen potential buyers, said Mike Rabalais of the Mayson family of-fice, which is selling it.

The parcel has about 76 acres of land, including the 15,000-square-foot Glen-ridge Hall, a Tudor revival mansion built in 1929. It is located west of Ga. 400 on Abernathy Road. It is split into two parts: one north of Abernathy and having 47 acres and the other the south side of Abernathy be-tween Glenridge Drive and Barfield Road with nearly 29 acres.

The corporate headquar-ters for Newell Rubbermaid and United Parcel Service are nearby. The property could be used for another large company’s base of operations, and all of the potential buyers touring the grounds so far have been from major corporations, the names of which Raba-lais could not disclose.

“I have spoken to sever-al corporate entities looking at buying the property,” he said. “Some say, ‘The house is [in] a place we need [to develop] and it’s got to go.’

I have had several who have looked. Some have looked into ways we can incor-porate it into our develop-ment.”

The home has been owned by the Glenn fam-ily for nearly a century. Thomas K. Glenn, who was president and chairman of Trust Company Bank, now SunTrust Bank, had Glen-ridge Hall built 14 years af-ter purchasing the land. It is on the National Register of Historic Places but that des-ignation by the U.S. Depart-ment of Interior does not protect it from demolition.

Rabalais said he and the property owner looked at 20 to 25 other similar historic properties in the Southeast to research ways to possi-bly keep the mansion. An-other relative owns the rest of the land. Over the past four years they also talked

to “countless” preservation organizations about ways to save the house. In the fall Rabalais started talks with the city about the family’s plans to sell the property.

“Everyone sees value in having a historic home like this, but the economics don’t add up, no matter how we face the problem,” Ra-balais said. “Anyone we felt could approach [preserv-ing] the property we have talked to. It’s not our first choice but it’s the choice we came down to after looking at other opportunities.

“With anything you own in your family, there’s a sentimental component. But there’s also a rational component to it. It was a business decision. We have exhausted any opportunity we have looked at. If there were a 12th-hour buyer that we discover that could buy

it and keep the property, we would take advantage it.”

The owner did not want to live on the property, Ra-balais said.

“Frankly I lived in the house for three or four years and it’s not comfortable to live in,” he said. “Our ques-tion was: ‘How can we repurpose the house?’ We wanted to make it of val-ue to the community but it also had to largely support itself.”

Thad Ellis, a senior vice president with downtown Atlanta-based Cousins Properties Inc., said he sees the property serving either as a corporation’s head-quarters or as a developer’s major mixed-use project.

“It’s a fantastic two piec-es of real estate in the heart of the largest submarket in all of Atlanta,” he said, referring to the central Pe-rimeter area. “More impor-tantly, [it’s] one with a lot of corporate demand for of-fice space but also really for mixed-use space.”

The property is list-ed with CB Richard Ellis’ Scott McGregor. There is no list price, but the land could fetch as much as $1 million per acre based on previous sales of property nearby. It will be sold at auction in the fall to the highest bid-der that meets the owner’s criteria, Rabalais said. The new owner likely will have

to get the property rezoned before developing it.

Ellis, who has spent about 30 years in commer-cial real estate, focusing on office projects, said he hopes whoever develops the Glenridge Hall property does so intelligently.

“We’re all hoping that serious thought and serious

design to the overall project are factoring in traffic,” El-lis said. “It’s a heavily pop-ulated area. We’re hoping it will be a well-thought-out project with ingress and egress uses. …

“It’s amazing that in 2014 there’s that kind of property that well located in the heart of the city.”

Page 7aWednesday, July 30, 2014/Neighbor Newspapers Business

Glenridge Hall property getting interest from corporations

File PhotoThe Glenridge Hall property, which includes this Tudor revival mansion and about 76 acres of land in Sandy Springs, is on the market.

Newell Rubbermaid to acquire Contigo, Avex

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