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Monday, 27 May 2013 20:15

MiBiz Growth Report: May 28, 2013

Written by  MiBiz Staff
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Here is the MiBiz Growth Report for May 28, 2013

M&A: Holland-based Sloan Transportation Products Inc. was acquired by Tramec LLC of Iola, Kan., according to a statement. Sloan, a provider of original equipment and aftermarket air and electrical components to the heavy-duty truck and trailer industry, will be fully integrated into the acquiring company and will be operated as Tramec Sloan LLC. The move expands Tramec’s product portfolio and its presence in the heavy-duty truck market. Tramec is owned by Mundelein, Ill.-based private equity firm MacLean Investment Partners.

M&A: New York-based private equity firm Graycliff Partners announced that its portfolio company Iron Mountain Inc. of Boston acquired Dallas-based Information Storage Consolidation Co., a records storage business that included Safe Records Center of Lansing, Mich., according to a statement. The deal marks an entry into the Lansing market for Iron Mountain, reported the Dallas Business Journal.

Expansion: LiveRoof LLC of Spring Lake has formed a new company, LiveRoof China Inc. to offer its green roofs to the country’s burgeoning real estate and development market, according to a statement. The company says the joint U.S. and Chinese venture —which will use plants grown near its Beijing- based operation —has exclusive rights to production and distribution of its products in China, Taiwan, Hong Kong and Macau. LiveRoof previously licensed its systems for distribution in South America, Australia and the United Kingdom. The latest Chinese venture is the company’s largest global expansion to date.

Expansion: Grand Rapids’Downtown Market recently announced three new tenants for its Market Hall: Holland-based butcher Montello’s Meat Market, Saugatuck-based retailer Spice Merchants and bakery Sweetie-licious of DeWitt.

Expansion: ABRA Auto Body & Glass of Brooklyn Center, Minn. opened its second Michigan operation at 711 East Lakewood Boulevard in Holland, for- merly Chrispell Auto Body Repair, according to a statement. Nate Yonker, the former owner of Chrispell, will serve as the independent owner/ operator of the franchise.

Expansion: Royal Oak, Mich.-based full-range residential mortgage lender Ross Mortgage Corp. opened a new office at 6640 28th Street in Cascade, the company announced this month. The company has 17 offices in the state.

Funding: Lansing-based biotech firm nanoRETE Inc., which uses technology licensed from Michigan State University, will receive an estimated $750,000 in Small Business Innovation Research funding over two years, plus a $125,000 grant from the Michigan Emerging Technology Fund. The Phase-II contract with the Air Force will go toward the development of a biosensor that can detect a form of tuberculosis infection and builds on technology developed in the initial round of funding, according to a statement.

Read 1555 times Last modified on Friday, 19 July 2013 12:21

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