South Continues to Lead the Way With Largest, Fastest Population Growth

Charleston Digital Corridor Welcomes Irish Trailblazers Fexillon to Thriving Tech Community 

The Charleston Digital Corridor welcomed Fexillon, an innovative leader in digitizing the built environment, to its community as the company establishes its U.S. office in Charleston, South Carolina.

Officials said the strategic collaboration marks a significant milestone for both Fexillon and the Charleston Digital Corridor, highlighting their shared commitment to driving tech innovation and fostering growth in Charleston's dynamic ecosystem.

Fexillon's entrance into the U.S. market is complemented by ambitious revenue projections for the U.S. market, targeting $10 million by 2026.

With a projected revenue trajectory reflecting confidence in its capabilities and market demand, Fexillon also intends to grow its U.S. team from 10 employees in 2024 to over 30 by 2026.

The initial 10 positions in 2024 will focus on supporting the rollout of Fexillon's technology platform in sectors such as architecture, engineering, construction, and operations (AECO), as well as other verticals critical to the company's success.

The company will recruit peer leadership roles in its technology, customer success, smart buildings and building information modelling teams.

“We are delighted to welcome Fexillon to the Charleston Digital Corridor community," said Ernest Andrade, founder and director of Charleston Digital Corridor. "Their decision to base their U.S. operations here underscores Charleston's reputation as a leading destination for tech innovation and growth.”

He added, “Fexillon's presence within the Corridor will enrich our ecosystem and further solidify Charleston's position as a vibrant hub for tech companies seeking to thrive and innovate. We look forward to supporting Fexillon as they embark on this exciting journey and contribute to the continued success of our dynamic tech community." 

“We are honored that Fexillon, an innovative and fast-growing building tech company, has selected Charleston for its U.S. headquarters,” said City of Charleston Mayor William Cogswell. “The city of Charleston is committed to supporting Fexillon as they implement their ambitious business plans for the North American market.”  

“Our expansion into Charleston marks a pivotal moment for Fexillon and the broader Irish tech community," said Kieran Beggan, CEO, Fexillon. "We're proud to bring Irish expertise and innovation to the global stage as we enter the U.S. market. Basing our U.S. operations in Charleston provides comprehensive coverage for our customer base, with promising growth opportunities in South Carolina and neighboring states.”  

Beggan added, “Charleston serves as a gateway to the U.S. market and choosing the Charleston Digital Corridor underscores our commitment to collaboration and growth within Charleston's dynamic tech ecosystem. With South Carolina's tech-friendly environment and skilled workforce, we're positioned for growth and innovation while driving innovation, forming partnerships, and showcasing the prowess of the Irish tech sector worldwide." 

With a reputation for quality and innovation built over 24 years, Fexillon has become a trusted partner for blue-chip firms across various sectors in the Irish, UK and wider European markets.

The company's digital asset management solutions have garnered acclaim from blue-chip firms in both the public and private sectors, enabling more streamlined approaches to building and property management.

By leveraging its platform, clients have been empowered to make data-driven decisions, reduce energy consumption, and enhance operational efficiency. 

MRCOOL Establishing Franchise Operations in McCormick County

 MRCOOL, a leading provider of heating, ventilation, and air conditioning (HVAC) systems and equipment, announced a franchise operation in McCormick County.

The $3.1 million investment will create 17 jobs over the next five years, according to Gov. Henry McMaster’s office.

HVAC Distributing, LLC. will operate the facility.

The MRCOOL brand is known for its innovative and energy-efficient HVAC product lines including the DIY Ductless Mini-Splits, GeoCool Inverter Series, Universal Series and Central Ducted Hyper Heat Series heat pumps.

The company will upfit the existing building located at 1559 S. Main Street in McCormick. 

The new operation will serve as a MRCOOL franchise location where the company will sell and distribute MRCOOL products and related services.

Hiring for the McCormick County facility has begun. Those interested in joining MRCOOL should email [email protected].

The state’s Coordinating Council for Economic Development awarded a $340,000 Rural Infrastructure Fund grant to McCormick County to assist with the costs of building improvements.

Aflac Global Investments To Acquire Stake In Private Credit Asset Management Firm Tree Line Capital Partners

Aflac Global Investments (AGI), the asset management subsidiary of Aflac Incorporated, said it has agreed to acquire a stake in San Francisco-based lower middle-market direct lender, Tree Line Capital Partners (Tree Line).

The structure of the deal provides AGI with a 40 percent interest in the company upon closing. In addition, Aflac is making a multiyear commitment to allocate a portion of its annual investable cashflow to Tree Line.

The Wall Street Journal, citing people familiar with the matter, reported the insurance giant is paying about $100 million for the stake.  

Tree Line was founded in 2014 by Managing Partners Tom Quimby and Jon Schroeder with initial backing by funds managed by Stone Point Capital.

The firm currently manages $2.7 billion in assets and specializes in direct lending to the lower middle market.

Tree Line has committed $5 billion in over 360 investments since inception. Tree Line will retain investment and operational autonomy with Quimby and Schroeder continuing to manage the business and serving on its board of directors. 

"We are pleased to announce this strategic partnership with Tree Line as we continue to advance our growth strategy for Aflac Global Investments and leverage our outsourcing capabilities to generate additional value for Aflac and our stakeholders," said Aflac Incorporated Executive Vice President, Global Chief Investment Officer Bradley E. Dyslin.

Dyslin added, "Tree Line's disciplined approach to credit underwriting aligns strongly with our core investment principles. We are pleased to partner with them and gain their expertise in middle market direct lending, which remains a strategically important asset class for our $100 billion investment portfolio."

"The partnership between Aflac Global Investments and Tree Line will accelerate our firm's growth in direct lending and build upon the great reputation and culture we have established over the last 10 years," said Managing Partners Tom Quimby and Jon Schroeder.

They added, "Tree Line has enjoyed consistent growth since its inception and is now in an even stronger position to expand and deliver greater capabilities to our investors, sponsors and borrowers. Strategic partnerships are particularly important to private credit managers in today's environment, and we could not be more excited to partner and grow our platform with Aflac Global Investments."

Evercore served as exclusive financial advisor to Aflac, and Debevoise & Plimpton LLP served as legal counsel.

Berkshire Global Advisors served as exclusive financial advisor to Tree Line Capital Partners, and Kramer Levin Naftalis & Frankel LLP and Paul Hastings LLP served as legal counsel.

The closing of the transaction is subject to the receipt of all regulatory approvals.

Columbia, South Carolina is Aflac's national headquarters for group insurance products. 

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