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Tuesday, 06 August 2013 00:00

Aug. 6, 2013: Huron Capital bites off dental acquisition; Heritage Hill church to be transformed into apartments; Grand Rapids economy grows but at slower rate

Written by  MiBiz Staff
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EDITOR"S NOTE: Auto suppliers from West Michigan and around the world are gathered in Traverse City for the Center for Automotive Research Management Briefing Seminars this week. MiBiz Managing Editor Joe Boomgaard and reporter Nick Manes are attending and filing stories as part of MiBiz' coverage of the annual event, which offers a wealth of information on the industry.  Daily updates are posted on the home page and here

Grand Valley State University and Michigan Technological University announced today that both institutions have joined as initial signers to the Green Chemistry Commitment, a national effort to encourage skills and knowledge in chemistry that reduce the use or generation of hazardous substances in chemical processes and products. The Commitment represents an opportunity for higher education institutions to further the goals of the State of Michigan Green Chemistry Program, according to a release from the Michigan Department of Environmental Quality. [4:27 p.m.]

The Grand Rapids economy continued to grow in July, although at a slower rate than the previous month. After a solid gain in June, indexes for new orders, production and employment slid for July in economist Brian Long’s monthly survey of industrial purchasing managers. Survey results showed activity slowed after three months of strength because of summer vacations, slower work schedules and seasonal plant shutdowns. “If it weren’t for the season and the fact that the statistics for the rest of the state, country and world are still on track, we could raise a question about the future,” said Long, director of Supply Management Research at Grand Valley State University’s Seidman College of Business. “However, one month never makes a trend, and the slightly slower numbers in our local report are probably nothing more than a summer hesitation.” [3:30 p.m.]

Detroit-based private equity firm Huron Capital Partners LLC announced the first investment from its newest fund, the $500 million Huron Fund IV LP. Huron purchased a controlling stake in Sarasota, Fla.-based Dynamic Dental Partners, which provides management support to dental practices. The investment is Huron's second deal in the dental industry, and this press release notes that Huron plans to use Dynamic Dental as a platform for future acquisitions in the dental business. [8:15 a.m. EST]

A long delayed project in Heritage Hill is about to break ground. Derek Coppess, founder of 616 Development, is transforming the Bethlehem Church at 253 Prospect Ave. NE into 22 market-rate apartments to the tune of $3 million. Initial plans for the redevelopment were put forward in 2011, but stalled after community concerns. Some apartment features include 11-foot vaulted ceilings and exposed gothic wood trusses. A portion of the church’s original stained glass windows are also being preserved. Residents can expect to move in within six months and leases will start at about $800 per month for a studio, $1,000/month for a one-bedroom unit and $1,450 for a two-bedroom unit, according to a release from the company.

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