Synergy Flavors Inc., an international food and beverage flavor company, is expanding again in Wauconda.
The company started construction on the first phase of a project to expand its U.S. headquarters at 1500 Synergy Drive. The first part of the project, expected to be done next year at this time, includes a 40,000-square-foot two-story building and parking lot. The next phase will include another large addition and reconstruction of the manufacturing facility. The entire project is expected to cost about $10 million, said Scott Mortensen, vice president of sales and marketing.
He said the larger campus is needed to accommodate the company's growth and three acquisitions that have taken place over the past several years. Synergy purchased companies in New York and Ohio as well as Vanlab, a 120-year-old vanilla company that was based in Chicago.
"We didn't go to Chicago, we stayed here, in Wauconda," Mortensen said, adding that additional acquisitions are likely in the future. "It's exciting to grow organically and position ourselves for acquisition," he said.
The new facility will be home to the company's sales and marketing, accounting, finance, human resources and IT departments, along with its executive team. Solar panels will be installed to prove an eco-friendly addition to the 200,000-square-foot campus. The company last expanded about three years ago when it moved to its existing location from another part of Wauconda.
Privately held Synergy Flavors is a member of the Irish-based Carbery Group, an international food ingredients and cheese company. Synergy creates innovative flavors in a full range of natural, artificial, organic and suitable for organic flavors for food and beverage manufacturers worldwide. "We create the taste and the taste is what carries the product," Mortensen said. In addition to the U.S., Synergy has production, research and development and technical facilities in the UK, Ireland, Southeast Asia and South America.
The local expansion is expected to accommodate another 100 employees at the headquarters that currently employs about 200.
"The new state-of-the-art building aligns with our company's vision and future growth plans, and will help ensure the company has the people, technology and tools in place to take Synergy Flavors into the future," said CEO Rod Sowders who resides in the Barrington area.
KemperSports based in Northbrook has been selected to manage Golden Horseshoe Golf Club in historic Williamsburg, Virginia. As part of the Colonial Williamsburg destination, the golf offerings at Golden Horseshoe are comprised of the award-winning Gold Course, the Green Course and the nine-hole Spotswood short course.
The Gold Course remains one of the most highly-touted golf courses in the region, including recognition by Golf Digest as No. 79 on its list of America's 100 Greatest Public Courses while GOLF Magazine ranks it as No. 55 on its recent list of the Top 100 Courses You Can Play.
The University of St. Francis in Joliet has ranked as the No. 1 private Master's institution in Illinois by Money magazine in the 2017 "Best Colleges for Your Money" list.
The study utilizes research on education quality, financing and value to determine the 711 colleges and universities that made the list. At No. 234 overall, the listing highlights USF's financial aid benefits and strong graduation rate as major assets to the university. The university serves 3,900 students nationwide.
LaSalle Network, a national staffing, recruiting and culture firm with offices in Arlington, Oak Brook and Chicago, recently opened an office in Nashville.
This marks the firm's sixth office and second outside of Illinois. "We have identified Nashville as a great area of opportunity for us," said Tom Gimbel, founder and CEO of LaSalle Network. "The city is home to a lot of top talent, as well as many booming industries, and I'm confident our brand will be able to have a big impact there." The newest office comes after the company has hired 100 new employees in the past year, added an additional office in Chicago, and continued organic revenue growth, landing on Inc. Magazine's 500/5000 "Fastest Growing Privately Held Companies in America" list for ten consecutive years.
Wealth management recognition
Savant Capital Management, a nationally-recognized fee-only wealth management firm headquartered in Rockford, with offices locally in Geneva, Hoffman Estates, Naperville, Wilmette, Freeport, Peoria, and Sterling, has been recognized by Financial Advisor, Financial Times and InvestmentNews as one of the leading Registered Investment Advisors in the nation and by Accounting Today magazine as one of the nation's leading CPA firms by assets under management. For the ninth straight year, Financial Advisor magazine has ranked Savant in its annual list of top RIA firms.