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Sunday, 15 March 2015 14:57

MiBiz Growth Report: March 16, 2015

Written by  MiBiz Staff
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Here is the MiBiz Growth Report for March 16, 2015:

• M&A: Custom injection molder Wright Plastic Products Co. LLC said it has acquired Hope Industries Inc., a Madisonville, Tenn.-based molder that serves the automotive, OEM appliance, medical and other markets. Terms of the deal were not disclosed. Sheridan, Mich.-based Wright Plastics said in a statement that the acquisition gives it additional capacity in the Southeastern U.S. to help capture business from the growing automotive and manufacturing industries in the region. Based near Knoxville, Hope Plastics currently works with several automotive and manufacturing customers. Grand Rapids-based BlueWater Partners acted as the exclusive financial advisor to Wright Plastics on the transaction.

• M&A: A Holland-based manufacturer of industrial machinery for the agricultural and food processing industries was recently acquired by A&B Packing Equipment Inc. of Lawrence, Mich. Lakewood Process Machinery LLC produces various equipment for stemming, washing, drying and other process-related activities, primarily for the small fruit industry. The acquisition added Lakewood’s Holland production facility and office, as well as increased A&B’s employee base to more than 100, according to a statement from the company.

• M&A: Traverse City-based wildlife control franchisor Critter Control Inc. has been acquired by Rollins Inc. (NYSE: ROL) of Atlanta, according to a statement. Terms of the deal were not disclosed. Rollins plans to maintain Critter Control as a brand and independent operation. Critter Control operates 114 franchises in 40 states and two Canadian provinces. It was founded in 1983 and offers “ecologically sound and humane” wildlife control services. Rollins’ service businesses include Orkin LLC, HomeTeam Pest Defense, Western Pest Services, The Industrial Fumigant Company, TruTech LLC, and others.

• M&A: Lansing-based UZoom Media LLC and East Lansing-based Michigan Creative Media LLC signed a definitive agreement to merge their companies under the Michigan Creative brand, effective March 5. The company is a provider of creative and marketing services.

• Funding: Backed by a $100,000 grant from the Grand Rapids Community Foundation, Goodwill Industries of Greater Grand Rapids Inc. plans to purchase a new food truck. Goodwill will use the new truck to expand its workforce development program while simultaneously exposing residents to healthy local food options, according to a statement. Participants in the program will receive training and experience to gain skills necessary to seek a job in the food industry. The training will cover both food industry-related procedures and entrepreneurial skills. Revenue generated by the food truck will go to support the program’s operating expenses.

Funding: The West Olive-based Great Lakes Ag-Tech Business Incubator has received a $25,000 donation from Consumers Energy. The contribution will support the newly formed virtual incubator’s business development efforts, according to a statement. Formed by the Ottawa County government as a nonprofit corporation, the Great Lakes Ag-Tech Business Incubator aims to assist innovators across the entire spectrum of the commercialization process, including market research, business planning, vetting and validating concepts, securing patents and financing, and hiring a management team, as MiBiz reported in January.

• Funding: Comstock Park-based Feeding America West Michigan Food Bank received a $10,000 grant from CSX and The Conservation Fund to use toward the purchase of a refrigerated truck. The vehicle will help Feeding America expand its mobile pantry distribution to communities in the Upper Peninsula, according to a statement. The grant was one of 10 such contributions that CSX and The Conservation fund announced across the U.S. in February.

Read 1438 times Last modified on Monday, 08 June 2015 10:46

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