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Sunday, 06 January 2013 23:36

MiBiz Growth Report: Jan. 7, 2013

Written by  MiBiz Staff
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The MiBiz Growth Report includes a roundup of news briefs of M&A and expansions in the region

 

M&A

• Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD) of Oak Brook, Ill. acquired the assets of Terra Contracting LLC, a Kalamazoo-based environmental, maintenance and infrastructure-related service provider, for approximately $20 million, according to a statement. Terra is expected to generate $45 million in service revenue and about $20 million of pass-through revenue for transportation and disposal. Terra will add about $20 million to Great Lakes’ backlog. In a statement, Great Lakes CEO Jon Berger said the acquisition helps fulfill the company’s strategic plan to improve its position in the environmental remediation market. Terra employs about 200 people across some 30 states.

• Allegan-based Perrigo Co. acquired the privately held Cobrek Pharmaceuticals Inc. of Chicago for approximately $45 million on a cash-free and debt-free basis, according to a statement. Perrigo acquired a minority stake in Cobrek in 2008 when it entered into a product development collaborative partnership for foam-based generic pharmaceuticals.

• Muskegon-based U.S. Retail Inc. acquired six West Michigan-area Pet Supplies Plus stores, according to a report in the West Michigan pet publication Press Unleashed. With 20 stores nationwide, U.S. Retail is now the largest Pet Supplies Plus franchisee.

• Grand Rapids-based Charter Lakes Marine Insurance Agency, an insurer of yachts and passenger vessels, was acquired by Arthur J. Gallagher & Co. of Itasca, Ill., according to a release. Terms of the transaction where not disclosed.

• A subsidiary of Grand Rapids-based Universal Forest Products Inc. (NASDAQ: UFPI) acquired Custom Caseworks Inc., a business-to-business manufacturer of engineered wood products in Sauk Rapids, Minn., according to a statement. The acquisition helps Universal expand its industrial business and product offerings. Custom Caseworks has annual sales of nearly $7 million and recently added capacity. In a statement, Universal said the acquisition helps the company expand into new, value-added product lines for the industrial market.

Read 905 times Last modified on Monday, 28 January 2013 11:55
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