Working on Wall Street at JPMorgan Chase & Co., Christopher Roop was asked a few years ago by a colleague if he knew of anyone from his days at the former Bear Stearns who was still looking for work.
In a 13-month period from July 2013 to August 2014, Acrisure LLC completed 25 acquisitions that took the insurance and benefits firm from $40 million in annualized revenue to more than $200 million. At the same time, it expanded its geography from three states to 14.
Gordon Lewis worked on his first bank merger 40 years ago as a first-year associate at Warner Norcross & Judd LLP.
When times were tough, West Michigan advisers found deals were scant and there were but a few investments to arrange.
Since the beginning of 2013, several of the West Michigan region’s public companies have been gobbling up acquisitions at a rapid pace. The half-dozen companies below have been among the most active, completing 30 acquisitions with a combined value of more than $12.9 billion over the past 21 months.
The pendulum has swung and businesses with a good balance sheet will find credit more readily available today than they would have a few years ago, according to a group of West Michigan bankers.
When Garrick Pohl moved Zipments to New York City three years ago, the startup thrust itself into an ideal major metropolitan market to prove out and refine its concept. But as the mobile courier service provider looks to grow, the company is moving its operations back to West Michigan for the region’s talent pool and its affordability.
Grand Angels recently invested in three companies: Ablative Solutions in Kalamazoo, Tetra Discovery Partners in Grand Rapids, and Altus Brands in Grawn, near Traverse City.
The repeal of the personal property tax on manufacturing equipment in Michigan represents the second major victory in three years for business advocates who long sought to improve the state’s business tax climate.
Lending backed by the U.S. Small Business Administration continued to grow in Michigan into the final quarter of the federal government’s fiscal year.
Opening a financial services division is the latest step of a broader growth strategy for Honor Credit Union to serve a larger base of members.
While Lake Michigan Credit Union is making its first foray out of Michigan with a mortgage lending office in Mishawaka, Ind., that doesn’t necessarily mean the organization will open branch locations outside of its home state, executives said.
A new Kalamazoo-based venture capital fund closed on its first fundraising phase, although organizers hoped by now to have moved closer toward their $10 million goal.
The proposed combination of two Southwest Michigan credit unions furthers a steady consolidation trend in the industry that’s been occurring for several years.
As each envisions becoming the top community bank in Michigan, Mercantile Bank Corp. and Chemical Financial Corp. could potentially make additional acquisitions in the future to drive growth.
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