Mundelein entrepreneur partners with son, might merge businesses
When Terri McNally of Mundelein started Chicago-based Global Capital Ltd., an equipment leasing firm, she wondered if someday one of her four children would take over the business.
She didn't expect to actually partner with her son and his business.
Sean McNally, 28, launched his equipment leasing firm, Nashville, Tennessee-based SLM Enterprises, last August after returning from Afghanistan, where he served in the U.S. Army's 101st Airborne Division.
Terri is a part owner of SLM and they did a succession plan for the future when she's ready to retire. The plan also includes a merger.
"He always liked equipment and how things work," said Terri McNally, 60. "Sean did equipment repair and had a passion for the business and now he blended in the finance side. He brings a new knowledge to the business."
Terri McNally started Global Capital in 1999 after working in executive positions with GE Capital, Ameritech and SBC that included a lot of travel. During that time, she also went through a divorce while raising her children.
"I didn't see myself as an entrepreneur, but I wanted to spend more time with my kids," she said.
She started Global Capital in the guest room of her home before eventually getting an office in Chicago. The company now serves 65 Fortune 1000 companies and has five employees.
In March, she was named a Woman of Distinction by the Women's Business Enterprise National Council and honored at the group's 20th anniversary event in New Orleans.
"I'm in the best time of my life and things are good," she said. "The company also has had a record year."
Former Valspar CEO chairs CPG
Former chairman, president and CEO of The Valspar Corp., Gary Hendrickson was appointed chairman of the board at Skokie-based CPG International, which provides low-maintenance building products such as AZEK Decking and Duralife Lockers. Hendrickson guided Valspar during its acquisition by Sherwin-Williams for $11.3 billion, which closed June 1.
Couple debuts new Massage Envy
The husband and wife team of Carrol Hornsby and Linda Weiler of McHenry are opening a Massage Envy at 811 E. Belvidere Road in Grayslake on July 11. It is the region's 46th Massage Envy location and will offer skin facials and therapeutic massages. Its grand opening will be 5 p.m. to 7 p.m. July 19.
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• Michael Powers, a managing partner at Meridian Compensation Partners LLC in Lake Forest, said the company is opening a new office in Philadelphia. It will be staffed by Jim Kzirian, who recently joined the firm.
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•Skokie Mayor George Van Dusen, Skokie Trustee Karen Gray-Keller, Skokie Clerk Pramond Shah, Skokie Chamber of Commerce President Howard S. Meyer and others recently gathered in Skokie for the grand opening of PurePoint Financial, a new hybrid bank. It only offers savings accounts and not checking accounts, loans and other services, which reduces operational costs so the bank can provide better rates. Sixteen PurePoint Financial Centers are open in Chicago, Dallas, Houston, Miami, and Tampa areas, with more slated to open later this year, the company said.
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