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Charter Capital opens Detroit office

Written by | Monday, 03 August 2015 11:31 |

The location adds to the investment banking and M&A firm’s existing offices in Grand Rapids, Kalamazoo and Mishawaka, Ind.

Bloomfield Hills-based JBD Acquisition Corporation has acquired its second West Michigan property in six months. Principal J.B. Davies bought Grand Rapids industrial property Grand Rapids Corporate Center at 3516 Roger B. Chaffee Drive SE in Wyoming last month for a reported $2 million.

With a steadily growing business in an increasingly revitalized neighborhood, the owner of a popular East Hills restaurant sees an opportunity to grow without increasing the physical footprint of his building.

Holland-based Trendway Corp. has a new president.

Auto supplier Chassix emerges from bankruptcy

Written by | Thursday, 30 July 2015 10:15 |

After nearly five months, Southfield-based Chassix Holdings Inc. has emerged from Chapter 11 bankruptcy, according to a statement released Wednesday.

Grand Rapids-based restaurant management company Meritage Hospitality Group Inc. (OTCQX:MHGU) has announced its acquisition of 15 Wendy’s fast-food stores in the Toledo, Ohio-area. According to a statement, the acquisitions will add approximately $19 million in annual revenue.

While sales were up for Zeeland-based Gentex Corp. (Nasdaq: GNTX), the automotive supplier reported lower profit margins and net income based on market and customer fluctuations. Meanwhile engineering and R&D expenditures rose along with the the company’s cash on hand, suggesting that new products and acquisitions could be in the company’s future.

The index reached 124.8 for the month, up from 121.5 in April and well above the 117.4-point average for all of 2014. Seven out of eight criteria used for the monthly economic Index increased in May, including labor market and housing-related indicators.

ChoiceOne income up in Q2

Written by | Wednesday, 29 July 2015 10:10 |

ChoiceOne Financial Services Inc. (OTCQX:COFS), the parent company for ChoiceOne Bank, reported record net income of $1.4 million, or 43 cents per share, for the second quarter, according to a statement.

Spectrum Health plans to create a foothold in Ionia County with the construction of a new medical campus.

Shareholders at Mylan N.V. will decide Aug. 28 whether to allow the company to pursue a $32.7 billion hostile takeover bid for Perrigo Co. plc.

The nearly 900 small and midsized business owners that responded to the semi-annual survey by Accident Fund Insurance Co. and the Michigan Business Network continue to have strong expectations for sales and earnings growth in the next six months.

The IPO for the new company, which generated $22 billion in annual revenue last year, is expected to close in approximately 12 months, according to a statement JCI released in announcing its third quarter earnings.

Stryker Corp. grew sales across all of its business units in the second quarter and more than doubled earnings.

Macatawa earnings up as loan demand builds

Written by | Thursday, 23 July 2015 17:15 |

Macatawa Bank Corp. grew earnings during the second quarter amid strong loan demand.

The marketing initiative, dubbed ‘Project Greenlight,” identified seven sites in Kent and Muskegon counties with multimodal transportation access that are prime for new projects or redevelopment.

In its latest acquisition to grow in Europe, Allegan-headquartered Perrigo Co. plc plans to buy a German maker of dietary supplements.

Coming off two acquisitions in West Michigan that closed in the second quarter, Chemical Financial Corp. reported higher earnings.

Rockford-based footwear and apparel marketer Wolverine World Wide Inc. will discontinue its smallest brand and plans to close more underperforming stores than previously announced as part of an ongoing strategic realignment plan, the company said Tuesday.

Lansing-based Neogen Corp. (NASDAQ: NEOG), a manufacturer of testing kits for food safety, animal safety and other industries, posted revenues of $78,6 million in its fourth quarter, a 17 percent increase over the previous year, according to an earnings statement released today. Neogen’s revenues for its 2015 fiscal year also increased 14 percent to $283 million, from 247.4 million the year prior.

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