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Sunday, 21 July 2013 23:11

MiBiz Growth Report: July 22, 2013

Written by  MiBiz Staff
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Here is the MiBiz Growth Report for July 22, 2013:

• M&A: Grand Rapids-based Supply Chain Solutions (SCS) acquired the international freight forwarding business unit of England Logistics of Salt Lake City, Utah. The deal allows Supply Chain Solutions to grow its international business while England Logistics focuses on its domestic operations, according to a statement. SCS will also serve as a preferred provider for international forwarding and customs brokerage for England and picks up offices in Los Angeles as well as in Shanghai, Qingdao and Ningbo, China.

• M&A: Neogen Corp. (Nasdaq: NEOG) of Lansing acquired the assets of Waukee, Iowa-based SyrVet Inc., according to a statement. SyrVet produces a range of veterinary instruments mostly used in the production of food animals, but it also has a line of tack products for the equine market. The acquisition bolsters Neogen’s line of animal health instruments and helps the company reach new markets, including new geographic areas. Neogen will continue the SyrVet operation in Iowa through a transition period, but will eventually move engineering, manufacturing and distribution to its existing locations in Lansing and Lexington, Ky. Terms of the acquisition were not disclosed.

• M&A: Nichols Paper & Supply Co. of Spring Lake acquired Industrial Cleaning Supply Co. (ICS) of Waterford, Mich., according to a statement. The acquisition fit with Nichols’ growth strategies, and ICS adds expertise in serving the government and education markets in Southeast Michigan. ICS’ owners will be staying on with the company after the acquisition.

• M&A: The South Haven Shopping Center, anchored by Dollar Tree and Dunham’s Sports in South Haven, was acquired by Whitehouse, Ohio-based Devonshire REIT Inc., according to a statement. The 40,040-square-foot facility is entirely leased. FirstMerit Bank provided the financing for the transaction. The transaction fit with Devonshire’s strategy of acquiring performing properties in non-major markets.

• M&A: I AM Inc. of Traverse City, a third party administrator and retirement plan consulting organization, was acquired in June by Oklahoma City, Okla.-based Retirement LLC, according to a statement. The transaction helps Retirement expand its reach into Michigan and the Midwest.

• Strategic Alliance: Nakashima Propeller Co. Ltd. of Okayama, Japan has acquired a 30-percent stock holding in Grand Rapids-based Michigan Wheel Marine, a manufacturer of propellers and propulsion equipment, as part of a new strategic partnership announced this month. The alliance builds off a history of collaboration between the two companies and will help expand the global distribution reach for each company, Michigan Wheel CEO Stan Heide said in a statement. The partnership also builds off Michigan Wheel’s recent expansion into the U.K. and Dubai and its acquisition of Shearwater Marine Ltd. in the U.K. The relationship will result in mutual advertising, marketing, product development and other business functions, according to a statement.

• Expansion: Oliver-Tolas Healthcare Packaging of Grand Rapids has expanded its operations in the U.S., Netherlands and China. The company said it purchased a 50,000-square-foot facility adjacent to its existing operations in Feasterville, Penn., where it plans to add warehouse space and additional cleanrooms. It also added on to its cleanroom manufacturing and warehouse space in Venray, Netherlands. The company also launched a 12,000-square-foot manufacturing facility in Suzhou, China to support a sales office the company opened there in 2006.

 Expansion: Smith Haughey Rice & Roegge has tapped Wolverine Building Group to expand the firm’s space inside the Ledyard Building at 125 Ottawa Avenue NW in Grand Rapids. The project is expected to be completed by August and includes the build-out of 4,100 square feet on the building’s third floor, the company said in a statement. The expansion makes room for five attorney offices, three professional offices, eight work stations and three conference rooms, among others.

Read 1639 times Last modified on Monday, 22 July 2013 08:37

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