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Sunday, 11 November 2012 15:33

MiBiz Growth Report Nov. 12

Written by  MiBiz Staff
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Here is the Nov. 12, 2012 MiBiz Growth Report, which includes a roundup of news briefs of M&A and expansions in the region:

M&A

• Walker-based retailer Meijer Inc. announced plans to acquire a 580,000-square-foot Supervalu Inc. distribution center in Pleasant Prairie, Wis., near Kenosha, according to a report from the Milwaukee Journal Sentinel. The new facility would help service several new stores Meijer has planned for Wisconsin, according to the report.

• Lansing-based waste collection company Granger III and Associates LLC acquired Mid-Michigan Rubbish of Stockbridge, Mich. and 5 Gs Disposal of Vestaburg, according to a statement from Granger. Terms of the deal were not disclosed. Mid-Michigan Rubbish has approximately 5,000 residential and commercial stops per week. 5 Gs Disposal has approximately 1,500 customers in Gratiot County.

• Grand Rapids-based Renovo Services LLC, an indirect automotive repossession services provider and online auction company, was acquired by Nashville, Tenn.-based Primeritus Financial Services Inc., a portfolio company of private equity firm Kinderhook Industries LLC of New York City.

Expansion

• Grand Rapids-based Centre for Plastic Surgery plans a new 11,500-square-foot surgical center at the Heritage Pointe office building at the corner of East Paris and Burton, according to a statement. Building owner First Companies is handling the construction of the new center, which was designed by architects Cox Medendorp Olson.

• Stanton-based wireless provider Casair Inc. has invested $26 million in an expansion of high-speed broadband Internet to rural areas in Mid and West Michigan that’s included 400 miles of fiber optic cable and 14 new cell towers, according to a statement.

• Grand Rapids-based warehousing and logistics firm Praxis Packaging Solutions expanded its Columbus, Ohio facility by 6,400 square feet in a move to expand flexible production capacity, the company stated in a release.

Alliance

•  Muskegon-based architecture, engineering and construction management firm Sidock Group Inc. has joined the recently formed Brewers Professional Alliance, a group of experts marketing services to the craft brewing industry.

New business

• Aerospace manufacturer APEX Precision Solutions Inc. started operations after moving into its new location in Ingham County’s Vevay Township. The company plans to create up to 35 new advanced manufacturing jobs in the next two years. Lansing Economic Area Partnership, Michigan Small Business Technology Development Center, the Lansing Regional SmartZone and the Michigan Economic Development Corp. provided support to the company.

Transactions

• Private equity real estate investment firm Viking Partners Fund II LLC of Cincinnati acquired the 87,000-square-foot Meridian Towne Center shopping mall in East Lansing, according to a report in Business Courier. Tenants of the facility include Marshalls, Great Clips and Sally Beauty Salon.

• Memphis, Tenn.-based Education Realty Trust acquired two multifamily properties in East Lansing, Mich., from Campus Village Communities of Rochester, Mich. for $20.9 million, according to a report by the CoStar Group. Marcus & Millichap brokered the transaction for the seller.

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Editor’s note: A previous version of this report included incorrect information about Orthopedic Associates of Grand Rapids PC. While the orthotics and prosthetics division of the company was acquired by Hanger Inc., Orthopedic Associates of Grand Rapids remains as an independent company.

Read 2117 times Last modified on Monday, 28 January 2013 12:55

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