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Holland PE firm acquires Westshore Design

Written by | Tuesday, 15 September 2015 15:24 |

The acquisition of the specialized circuit boards and electronic components manufacturer will allow GVD to integrate that technology into its other holdings and expand into new markets, said Gary Van Dyke, CEO of GVD in a statement.

MEDC announces layoffs, budget cuts

Written by | Tuesday, 15 September 2015 12:35 |

The Michigan Economic Development Corporation today announced 65 layoffs and a 27 percent cut in funding, effective October 1, according to multiple news outlets and confirmed to MiBiz by an MEDC spokesperson.

Michigan’s second largest city seeks to show that instituting sound sustainability measures makes good economic sense.

Davenport University received the largest gift in its nearly 150-year history.

An Indiana portfolio company of LV2 Equity Partners LLC, which has offices in Grand Rapids, recently acquired Escondido, Calif.-based Count Machinery Company, according to a statement.

Pending legislation could help level the playing field for craft distilleries by reducing the excise tax that a distiller must pay on its spirits. The Distillery Excise Tax Reform Act (DETRA) aims to significantly cut the current excise tax rate in order to make small distillers more competitive, as well as spur community investment and job creation.

Michigan State University has exceeded $1 billion in pledges to a $1.5 billion multi-year capital campaign. Pledges to the Empower Extraordinary campaign that started in July 2011 totaled more than $1.01 billion as of Aug. 31, the university said today.

Sun Coast Packaging Acquires Shapiro Packaging

Written by | Thursday, 10 September 2015 15:00 |

Sodus-based Sun Coast Packaging Inc. has acquired Grand Rapids-based Shapiro Packaging, according to a statement released today. The acquisition will add additional products and customers to Sun Coast’s operation.

Grand Rapids-based Leon Interiors Inc. will close its manufacturing facility in Wyoming in the first quarter of 2016. The closure will result in the termination of 125 active workers in addition to 75 employees who have been laid off for over a year, according to a statement released by the company. Leon expects layoffs to begin in November 2015.

Perrigo Co. plc Chairman and CEO Joe Papa fired back at his Mylan N.V. counterpart today, highlighting why he believes a $27.1 billion hostile takeover effort is a “value destructive” scenario for shareholders.

Grand Rapids Community College (GRCC) has entered a partnership with Macomb Community College (MCC) boost to its apprenticeship program in the state.

Bekins revives Classic Stereo brand

Written by | Wednesday, 09 September 2015 11:07 |

Grand Haven-based home appliance and audio retailer Bekins Inc. has partnered with John Higgs, former owner of Classic Stereo and Video, to revive the high-end audio store, which closed its Grand Rapids and Kalamazoo stores in 2008 amidst financial struggles related to the recession.

Mylan launching hostile bid Sept. 14 for Perrigo

Written by | Wednesday, 09 September 2015 10:42 |

Mylan N.V., nearly five months after publicly stating it wants to acquire the company, plans to take a buyout proposal, now estimated at $27.1 billion, directly to Perrigo Co. plc shareholders Sept. 14 in a hostile takeover bid.

Coldwater, Mich.-based Coldwater Veneer Inc. was acquired by private equity firm Industrial Opportunity Partners (IOP) of Evanston, Ill. as part of a management buyout, according to a statement. The transaction also included West Point, Va.-based subsidiary West Point Veneer LLC.

The two Grand Rapids properties included Hampton Inn Grand Rapids-North, located at 500 Center Drive near the intersection of I-96 and the East Beltline, as well as Spring Hill Suites Grand Rapids-North at 450 Center Drive, also in the same vicinity. The company also acquired the East Lansing Hampton Inn at 2500 Coolidge Road.

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