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Finance (142)

SBA eliminates fees on some lending programs

Written by | Wednesday, 09 October 2013 21:00 |

The U.S. Small Business Administration (SBA) wants to drive more loan activity but in smaller amounts by waiving fees for its primary lending program.

As West Michigan’s public companies have been involved in recent deals totalling in excess of $12 billion, it’s further evidence that the region is competing in a global market. That was one key takeaway from the panel discussion at the inaugural MiBiz M&A, Deals and Dealmakers Awards.

The hand of John Kerschen, managing director of M&A advisory firm The Charter Group in Grand Rapids, has been in 85 transactions in his 17 years at the company, representing a total transaction value of more than $500 million.

When it comes down to the nitty-gritty of making a big deal, the heads of the parties in question may or may not be at the table, and the same goes for their bankers.

Crystal Flash Energy President Tom Fehsenfeld has been finding a promising climate for acquisitions across Michigan lately. In the last 20 months, Crystal Flash acquired six companies — four of them in the last 12 months. These six acquisitions added nearly $70 million in revenue to the petroleum and fuels wholesale distribution firm, more than $50 million of which occurred in the last year.

Martin Stein’s first deal didn’t work out too well.

When faced with plans for a redevelopment project that just “didn’t feel right,” 616 Development LLC founder Derek Coppess knew it was time to get creative.

One of Muskegon’s biggest cheerleaders happens to be a developer who owns one of the largest portfolios of property being redeveloped in the city’s downtown.

In striking a merger deal in late 2012, two competing Grand Rapids-based architectural firms determined they could be more competitive and more profitable together than they could as separate entities.

After 20 years of running the business he founded, Sam Nichols wanted to pull back, share some of the management workload, spend more time with family and maybe travel.

Months before signing its blockbuster $8.6 billion deal for Elan Corp. of Ireland, Perrigo Co. made an acquisition that put it solidly into an entirely new growth business: animal health.

Wolverine World Wide Inc. has laced up its running shoes to compete with the giants of the footwear industry.

West Michigan’s homegrown public companies have often ended up as the prey rather than the predator over the past two decades.

Four and a half years after opening its first office in suburban Grand Rapids, the parent corporation of Grand River Bank wants to raise new capital — and it’s not alone among community banks in West Michigan.

Chemical Financial plans $50M public offering

Written by | Saturday, 14 September 2013 13:43 |

Midland-based Chemical Financial Corp. (Nasdaq: CHFC) could raise more than $50 million in a public stock offering the company announced on Friday.

As key components of the federal Affordable Care Act take effect in 2014 that mandate coverage and benefit levels, employers and health insurers also face an array of new taxes and fees that will drive up costs.

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