DesignMatters Matters Legal UTAH’S BUSINESS JOURNAL www.slenterprise.com
THIS WEEK
Aug. 8-14, 2011
Volume 41, Number 2
Executive Lifestyle Executive Lifestyle Legal Matters
Work to begin on 153-unit townhome project in West Valley
$1.44
SL firm sees revenues jump from $600,000 to $10 million in three years
By Brad Fullmer The Enterprise Salt Lake City-based The Steal Network, a collection of websites that provide high-quality, boutique-type items centered around mothers, women and children, has enjoyed phenomenal growth since it was founded in April 2008, with gross revenues skyrocketing from $600,000 that first year to more than $10 million in 2010. “We’re on a pretty good growth curve,” said Rett Clevenger, CEO of The Steal Network and co-founder of the company along with president Jana Francis. “But we don’t get too crazy about that. A lot of people start a business with the intent on getting big but that’s not our focus. Our goal is to provide meaningful employment
while focusing on our core business, which is selling high-quality items, providing good exposure to our vendors and entertaining moms. It’s as much about entertainment as it is getting good products.” The Steal Network, headquartered in a 15,000 square foot leased facility on 2181 California Ave. in Salt Lake City, currently consists of four websites launched over the past three-plus years — BabySteals.com (April 2008), ScrapbookSteals.com (June 2009), KidSteals.com (October 2009) and KidCrawl.com (October 2010). Local customers can also purchase items at a small retail store within the building or can simply pick up what they buy online rather than
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• Calendar • See page 16.
• Industry Briefs • See page 17.
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Artist's rendering of one of three townhome styles that will be available at Villages of Westridge. By Barbara Rattle The Enterprise Henry Walker Homes, Centerville, plans to break ground this year for Villages of Westridge, a 153-unit for-sale townhome community on roughly 16 acres at 5600 West and 5400 South in West Valley City. Phil Holland, land acquisition manager for Henry Walker Homes, which will act as general contractor, said the project has been designed by JSA Architects. Engineer is Focus Engineering. Roughly 1.5 acres in the development will be dedicated to the city for a park, while 2.5 acres will be devoted to commercial uses. Villages of Westridge
will consist of three types of townhomes — a courtyard model, traditional model and mansion model, Holland said. The first phase will consist of roughly 36 courtyard models, most with twocar garages. “They’re all alley-loaded and face onto a courtyard that’s extremely large,” he said. “There will be barbecue pavilions, large grass areas, all the units have balconies that overlook the courtyard. It’s going to be a really nice project.” The first phase, which will rise to two and three stories, will contain one and two-bedroom
see STEAL page 13
Camco Construction in Utah in 'hibernation' for now
Real Estate Matters Legal Matters see WESTRIDGE page 4
HR Matters Legal Matters
$25 million Bluffdale electrical firm sold to North Carolina company Bluffdale-based Pine Valley Power Inc., a provider of construction and maintenance services to the transmission and distribution, renewable energy, industrial water and mining industries, has been sold to Pike Electric Corp. of Mount Airy, N.C. According to Pike, Pine Valley generated revenue of roughly $25 million in the last year. Michael Horan, Pine Valley’s president, will retain that position. “Mike and his talented team, their geographic location and strong union relations will enable Pike Electric Corp., through Pine Valley Power, to construct and maintain transmission and distribution infrastructure throughout the West,” said J. Eric Pike, chair-
man of CEO of Pike Electric. “Mike and his team also bring tremendous renewable energy knowledge, including geothermal electricity generation. Pine Valley Power, combined with our Pike Energy Solutions West Coast engineering offices and our Klondyke Construction business based in Phoenix, provide a great team to pursue large scale EPC projects in the West.” Horan said joining the Pike family of companies “gives us the resources to pursue more and larger projects as we work to dramatically grow our business. Our customers have been looking for us to take on larger, more complex projects and with Pike’s backing that will now be possible.” see PINE page 4
Camco workers oversee work on a "super flat" floor at a new distribution center for Regis Corp. in Salt Lake City. By Brad Fullmer The Enterprise In response to the continued stagnant economy, Camco Construction of Murray has decided to temporarily shutter its Utah operations until the market rebounds, according to CEO Dewain Campbell. “It didn’t make sense to compete and take on projects where we would just break even,” said Campbell, who runs Camco Pacific in Irvine, Calif. and Las Vegas and who bought the Utah
office from his brother, Robert F. Campbell Jr., at the beginning of 2010. “I made the decision that we would hibernate the company and wait until times get more economically feasible.” Campbell said 20 people were laid off earlier this year over a four-month period, all of whom have found other jobs with contractors, albeit likely at lower salaries. Camco’s Utah office now has five employees, down from a see CAMCO page 4