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Sunday, 04 August 2013 22:25

MiBiz Growth Report: Aug. 5, 2013

Written by  MiBiz Staff
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Here is the MiBiz Growth Report for Aug. 5, 2013:

M&A: Grand Rapids-based branding and marketing firm Hanon McKendry is merging with Colorado Springs, Colo.-based marketing firm CSK Group. With the merger comes a new name, Do More Good LLC, although the entities will be known as Do More Good | hanon mckendry and Do More Good | csk. The new company will focus its business strategy on purpose-driven firms that look less at driving sales and more to social responsibility, the company told MiBiz. Do More Good will keep both offices in the merger and expects to add to the now 55-person staff, a figure that doesn’t include the 35 employees who work for Mindscape, the company’s digital media arm. Hanon McKendry also recently announced it would be moving into the mixed-use Arena Place Development proposed by Orion Construction in downtown Grand Rapids.

M&A: Spartan Stores Inc. (Nasdaq: SPTN) has embarked on what President and CEO Dennis Eidson calls a “transformational transaction”to merge the grocer with Minneapolis-based Nash Finch Co. (Nasdaq: NAFC), the two companies announced in July. The all-stock merger, which is valued at $1.3 billion including debt at both companies, will result in a grocery wholesale, retail and military commissary company with pro forma annual sales of $7.5 billion. The deal is expected to close by the end of the 2013 calendar year. Under the deal approved by both companies’boards of directors, Nash Finch shareholders will receive 1.20 shares of Spartan Stores common stock for each share of Nash Finch common stock they own. At closing, Spartan Stores shareholders will own approximately 57.7 percent of the equity of the combined company, and Nash Finch shareholders will own approximately 42.3 percent.

M&A: Grand Rapids-based Crystal Flash acquired fuel transportation firm C. Barron & Sons Inc. of Monroe, Mich., the company announced last week. Under the deal, Crystal Flash gains more than 2,000 new customers, 28 employees and four new locations, according to a statement. The deal, which will be immediately accretive to earnings, also gives Crystal Flash a footprint in northern Ohio. The transaction was the sixth deal in the last 18 months for Crystal Flash, which did about $200 million in sales in 2009, according to prior reports. The Charter Group of Grand Rapids advised Crystal Flash on the deal. The company did not disclose terms of the acquisition.

M&A: Supply Chain Solutions, a Grand Rapids-based global transportation, logistics and supply chain management firm, acquired Vanik International Inc. a Westmont, Ill.-based international freight forwarder. Terms were not disclosed. In a statement, CEO Les Brand said Vanik’s export market expertise and relationships will “help us open new markets for our clients.”The deal follows Supply Chain Solutions’ acquisition earlier in July of the international freight forwarding business unit of England Logistics, based in Salt Lake City, Utah.

M&A: Chicago-based dbHMS acquired Sustainable Mechanical Design Associates (SMDA) of Grand Rapids, according to a statement. The acquisition allows dbHMS to expand its building performance consulting services in Michigan. As a result of the transaction, the SMDA name will be phased out. dbHMS recently worked on the Gordon Food Service corporate headquarters, the Downtown Market and the Rockford Construction Co. headquarters.

M&A: Global agribusiness firm Cargill acquired the grain storage and crop inputs assets of Northstar Grain LLC in Decatur, Mich., according to a statement. Terms were not disclosed. Among the assets were 4.5 million bushels of crop storage space and a crop inputs business. Cargill said it plans to invest $3 million in upgrades to the facility to complete the construction of a 500,000 bushel storage bin and increase the capability to ship 75-car unit trains from the site, which is served by the Norfolk Southern railroad.

Expansion: Ludington-based Whitehall Industries started construction on a $13 million plant in Paducah, Ky., where the automotive supplier plans to employ 150 people, according to a report in Area Development. The plant will manufacture aluminum extrusions and machine fabricated components. The company received $1.5 million in tax incentives.

Expansion: Muskegon-based specialty retailer Family Farm & Home plans to open its 27th store on Aug. 9 in Sparta, the company said in a statement to MiBiz. The location, 53 Applewood Drive, was last occupied by a Pamida store and sat vacant for about a year. Family Farm & Home sells merchandise geared toward rural and suburban living, including agricultural and home products.

Expansion: Gordon Food Service announced plans to build three new distribution centers: a 100,000-square-foot facility in Wyoming, as MiBiz previously reported; a 260,000-square-foot center in Douglasville, Ga.; and a 420,000-square-foot facility in greater Pittsburgh, Pa, according to a statement. The company also plans to consolidate two existing facilities in Ocala, Fla. and Greenville, S.C.

Expansion: ADAC Automotive officially opened its new 72,000-square-foot paint facility in Muskegon in July. The $18 million facility, the largest capital investment in Grand Rapids-based ADAC’s 38-year history as a Tier-I automotive supplier, will house a new robotic system capable of painting thousands of automotive parts and expands the company’s capabilities into new product categories. The new facility is located in ADAC’s Muskegon manufacturing complex.

Expansion: Teleperformance Inc. plans to invest $3.79 million and create 500 new positions at a new customer support and call center at 2680 Horizon Drive SE in Cascade Township, The Right Place Inc. announced last week. Facility renovations are expected to be wrapped up by fall. The site will serve as a new inbound call center for the company. Teleperformance received a $600,000 performance-based grant through the Michigan Business Development Program.

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