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Detroit-based venture capital firm Huron Capital Partners LLC has acquired an ownership stake in Mount Pleasant-based Bandit Industries Inc. in exchange for recapitalizing the company with an undisclosed investment.

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.

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