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Sunday, 14 April 2013 22:09

MiBiz Growth Report: April 15, 2013

Written by  MiBiz Staff
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Here is the MiBiz Growth Report for Feb. 18, 2013:

• M&A: The Detroit-based law firm Clark Hill PLC, which has local offices in Grand Rapids and Lansing, announced plans to merge with Thorp Reed & Armstrong LLP of Pittsburgh, Pa., according to a statement. The merger is expected to be complete in the second quarter of the year. According to a report in Crain’s Detroit Business, Thorp Reed’s shareholders pooled their ownership stakes into Clark Hill, and no money exchanged hands in the deal. Clark Hill’s CEO John Hern told Crain’s that Thorp Reed brings a strong banking practice to the table, while Clark Hill will be able to expand its manufacturing and automotive practice. Once combined, the firm will have more than 300 attorneys spread across 12 offices in seven states, plus the District of Columbia.

• M&A: Architecture firm Lord, Aeck & Sargent, which has an office in Ann Arbor and professionals based in West Michigan and which has worked with Western Michigan University, merged with Atlanta-based Urban Collage, which focuses on urban design, according to a report in the Atlanta Business Chronicle.

• M&A: Traverse City-based Coldwell Banker Schmidt Realtors (CBSR) announced it would merge with two Florida-based firms, Coldwell Banker Sunstar Realty Inc. and Coldwell Banker Morris Realty Inc., according to a statement. The deal, which includes four offices in Florida, adds about 100 people to CBSR. Combined annual real estate sales of the merged companies is in excess of $1.5 billion on more than 10,000 transactions. CBSR President Mike Schmidt stated that the move will create a “natural synergy” since Michigan residents are among the top buyers of second homes in the Florida market. The two Florida companies will continue to operate under their existing names.

• M&A: Grand Rapids-based Oncologix Tech Inc. (OTCBB: OCLG) purchased all the outstanding common stock of Dotolo Research Corp. from Clearview Medical LLC of Pineville, La., according to a filing with the SEC. Oncologix is a development-stage medical device and health care company focused on acquiring medical device businesses, particularly those that aid in the detection, treatment and prevention of liver and colon cancer. Dotolo Research is a manufacturer of colon cleansing and bowel preparation medical devices. The deal will help Oncologix fund additional manufacturing capacity, increase inventory, expand its sales and marketing team and make other acquisitions, according to a regulatory filing.

Read 1694 times Last modified on Monday, 15 April 2013 16:50

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