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Sunday, 11 May 2014 22:47

MiBiz Growth Report: May 12, 2014

Written by  MiBiz Staff
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Here is the MiBiz Growth Report for May 12, 2014.

M&A: Grand Rapids-based Kindel Furniture Co. has acquired the assets, intellectual property and operations of Karges Furniture of Evansville, Ind. The 128-year-old Karges manufactures luxury, hand-made, American furniture. By acquiring Karges, the family owned Kindel plans to expand its domestic and international distribution and increase marketing and customer service, as well as broaden its offering of specialty finishes. Terms of the deal were not disclosed. The backlog of Karges’ business will be completed in Evansville and at Kindel in Grand Rapids, and production operations will transition to Kindel by this fall.

M&A: Grand Rapids-based public relations and investor relations firm Lambert, Edwards & Associates Inc. has acquired public policy communications firm Sterling Corp. of Lansing, according to a statement. Terms of the deal were not disclosed. The company stated that Sterling will remain a separate firm and retain its branding. Sterling will be led by Managing Partner Steve Linder and Political Director Mark Pischea. The acquisition is LE&A’s fifth, the company stated.

Expansion: INglass Group SpA, an Italian supplier of molds for translucent plastic products such as tail light covers to the automotive industry, has acquired undeveloped land on 74th Street in Byron Center to build a 105,000-square-foot facility. Aided by a $300,000 performance-based grant under the Michigan Business Development Program and a $4.52 million total incentive package including local abatements, the company plans to invest $17.6 million and create 109 new jobs over four years. The company worked with NAI Wisinski of West Michigan to buy the land. INglass plans to break ground on the facility in either June or July and be operational by March of next year.

Expansion: Fort Worth, Texas-based call center operator NOVO 1 Inc. plans to invest $1.5 million and add 287 jobs in Cascade Township over the next three years, according to a statement. The state is supporting the project with a $550,000 performance-based grant from the Michigan Business Development Program. The company will locate its new Dialog Direct call center at 2905 Lucerne SE. Novo 1’s commercial real estate adviser, Cresa Dallas, negotiated the sale with Peter Colvin of Sperry Van Ness Investment Property Advisors in Grand Rapids.

Expansion: Grand Rapids-based Mill Steel Co. has expanded its operations with a new facility at the Port of Indiana-Jeffersonville, where it already has plans to add on to continue to grow its business. The flat-rolled steel supplier plans to invest $16.1 million in the 105,000-square-foot facility in Jeffersonville, Ind. on the Ohio River and will expand it with a 120,000-square-foot addition. The new facility will have two slitting lines, as well as a cut-to-length line. The expansion is expected to result in 43 new full-time positions. Mill Steel has existing operations in Grand Rapids, metro Detroit and Birmingham, Ala.

Expansion: Saranac-based egg producer Herbruck Poultry Ranch Inc. plans to invest $33 million over the next three years to expand its production facility in the Village of Saranac. The company plans to add 50 new jobs as part of the growth plan, according to a statement from The Right Place Inc. To accommodate the expansion, Herbruck will need to run a new $1.5 million public sewer line to connect to the Lakewood system. The new line will be funded and managed by the company, but will not be used exclusively by the company. The Lakewood Wastewater Authority is waiving a connection fee of $405,000. Additionally, the state is supporting the project with a $500,000 performance-based grant under the Michigan Business Development Program.

 

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