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Izzy+ to close Alabama plant

Written by | Monday, 28 July 2014 13:22 |

Izzy+ plans to close a production facility in Florence, Ala., by next summer. The consolidation should take a year to complete

Grand Rapids-based Founders Financial Corp., the parent company of Founders Bank & Trust, signed a definitive agreement to be acquired by Old National Bancorp of Evansville, Ind.

The Holland-based Macatawa Bank (Nasdaq: MCBC) said operation continued to improve during the quarter. The bank reported its lower loan delinquency rate in 11 years.

New York-based private equity firm GenNx360 Capital Partners invested in Tooling Technology Holdings LLC, a Fort Loramie, Ohio-based manufacturer with an engineering design facility at 4460 44th Street SE in Grand Rapids, according to a statement.

The Grand Rapids-based Mercantile Bank reported net income of $1.3 million, or 13 cents per diluted share, for the quarter that ended June 30.

The 11,040 square foot expansion aims to increase Grand’s heavy equipment dealership and rental service. The addition, according to a release, will include four offices, a conference room, parts storage and a counter.

The $59.4 million invested in drug developer ProNai Therapeutics Inc. this past spring led Michigan to one of its best quarter ever for venture capital investing.

In a move that opens a broader consumer distribution network for the company, Herman Miller Inc. plans acquire a majority share of a Stamford, Conn.-based marketer and seller of furniture, lighting and accessories.

Medbio Inc., a Cascade Township-based contract manufacturer to the medical device sector has announced a $3.39 million investment at its facility on 36th Street.

LV2 Equity Partners LLC, a private equity group with offices in Grand Rapids, acquired the print finishing business of Wabash, Ind.-based Martin Yale Industries Inc. from Escalade Inc. of Evansville, Ind., according to a statement.

A controlling interest in Benton Harbor-based Printek Inc., a manufacturer of mobile and impact printers, was acquired by DASCOM Americas Corp. of Verona, Va., according to a statement.

Wolverine World Wide Inc. plans to close some 140 retail locations as part of a strategic realignment plan aimed at reacting to shifts in consumer shopping behavior, the company announced today.

HopCat – Ann Arbor will have more than 300 seats and feature up to 100 craft beers on tap and employ 140 people. The expansion represents a $2 million investment and will become the fifth location for BarFly Ventures, founded in 2008 in downtown Grand Rapids. 

The deal for a 66.8 percent stake in Fineldo SpA.’s Indesit Co. would give the Benton Harbor-based Whirlpool (NYSE: WHR) a larger presence in the European appliance market.

Grand Rapids' new NBA Development League basketball team, the Grand Rapids Drive, have announced that its retail store will be located in the Shops at Monroe Center and Division (MoDiv).

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