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Michigan’s business advocates scored a win last night with the repeal of the personal property tax (PPT), otherwise known as Proposal 1.

Grand Rapids-based private equity firm Blackford Capital Associates Inc. has acquired its fourth Michigan company via its Michigan Prosperity Fund: Fenton-based Burgaflex North America Inc.

The new “Pre-Owned Superstore” dealership will be located in the current Lake Michigan Auto Center building at 4130 32nd Avenue in Hudsonville. The company plans to add approximately 20 jobs to the new facility.

Grand Rapids-based Orion Construction Co. Inc. on Wednesday held the official groundbreaking for the Arena Place development, which is already under construction. The $45 million mixed-use project in downtown Grand Rapids’ Arena South district will feature 100 market-rate apartments on 10 floors and an adjoined 11 story office tower.

GoSite pop-up is now open

Written by | Thursday, 31 July 2014 11:05 |

The Grand Rapids Art Museum opened its pop up, GoSite, for public use on July 31. The pop up is in collaboration with the GRAM and the GoSite Coalition and is an information-sharing space for the community, including Grand Rapids residents and tourists.

West Michigan will have representation on a new authority set up to oversee construction of the new international bridge between Detroit and Windsor, Ontario.

Kellogg Co. announced plans to close a snacks production plant in Columbus, Ga. by the end of 2015, according to a report by the publication, just-food.

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.

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