Raising $10.6 million provides Grand River Bank’s parent company with added capital to drive further growth and pursue new business as some competitors are either now part of larger banks or are merging into larger institutions.
For any business owner who’s seeking a buyer and worries about what will happen to his or her company in the long term, cutting a deal with another family could very well represent an option to consider.
Venture capital investors put almost twice the amount of money into Michigan companies in 2014 as they did the year before, continuing the industry’s momentum.
With the integration of the former Firstbank Corp. nearly complete following the acquisition last summer, Mercantile Bank Corp. moved into 2015 targeting loan and revenue growth across a far broader market.
The driving force behind Lake Michigan Financial Corp.’s proposed $184.1 million sale to Chemical Financial Corp. represents a contrast to what’s been driving most of the consolidation in the banking industry.
Continuing to grow through acquisitions, Chemical Financial Corp. said it plans to acquire Holland-based Lake Michigan Financial Corp. in a $184.1 million deal.
Before directors at Coldwater-based Monarch Community Bancorp Inc. explored the possibility of a sale or acquiring other banks itself, the organization needed to complete a successful recapitalization strategy and to emerge from under increased regulatory scrutiny.
Private equity deal flow was strong in 2014 and Gretchen Perkins believes it will continue that way in 2015 as more business owners look to sell their companies in a good economy. A partner at Detroit-based private equity firm Huron Capital Partners, Perkins expects the economy to continue to improve this year, helping drive opportunity for both buyers and sellers.
Grand Angels, the angel investing group formed a decade ago to back young companies in Michigan, is apparently preparing to create new venture capital fund.
A year-old law aimed to make it easier for all kinds of small businesses in Michigan to raise capital via intrastate crowdfunding. But the only companies consistently taking advantage of the new fundraising tool have been in the food and beverage industry, particularly craft breweries.
As 2014 draws to a close, small business owners still have time to better position their personal finances going into the new year.
If Michigan were a top 10 business state, we’d have 150,000 more jobs and an average of $12,000 more in individual income.
Michigan continues to rank 13th in the U.S. for its overall business tax burden, holding to a position that improved significantly in the last few years after legislators enacted sweeping changes to the state’s tax code.
The results of PNC Bank’s annual Wealth & Values survey dispel the stereotype of the wealthy as proverbial one-percenters who are only concerned with their personal financial interests.
Owners who want to sell their businesses need to begin preparing years in advance and plan carefully to do it right, M&A experts say.