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Sunday, 30 August 2015 14:10

MiBiz Growth Report: Aug. 31, 2015

Written by  MiBiz Staff
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Here is the MiBiz Growth Report for Aug. 31, 2015.

• M&A: Holland-based Fairly Painless Advertising Inc. has acquired Plenty Creative Inc. of Grand Rapids. The deal, which evolved over the course of the last six months, will combine Plenty’s experience in the graphic design and visual communication field with the resources of the larger Fairly Painless organization, said Dottie Rhodes, previously the principal owner of Plenty. The acquisition will give Plenty’s clients access to the in-house film and graphics capabilities of Fairly Painless. Terms of the deal were not disclosed. Fairly Painless will continue to operate from its location in Holland as well as from the former Plenty site in Grand Rapids. Plenty had three employees, while Fairly Painless employs 20 people in Holland.

• M&A: MittenBrew LLC, an Ada-based online niche Michigan craft beverage publication, is under new ownership. Steph Harding, a West Michigan photographer, took over leadership of the publication on Aug. 1, 2015, from long-time owner Bryan Esler. The deal was a legal transfer of assets without any money being exchanged between the parties, Harding told MiBiz. Harding plans to boost MittenBrew’s revenue by ramping up distribution of its weekly newsletter and increasing its coverage of craft beverages outside of beer and hosting events. MittenBrew currently relies on an advertising sales model and breaks even financially to support its staff, Harding said.

• M&A: Toledo-based Union Partners I LLC has acquired the assets of Novi-based Lee Steel Corp.’s facility in Wyoming, Mich., as well as the working capital assets of the firm’s Romulus facility. The company’s Romulus operations will be consolidated into the Wyoming facility as a result of the acquisition, according to a statement. Terms of the deal were not disclosed. Union Partners holds seven other steel service companies including, Lexington Steel Corp., LexWest LLC, Lex South LLC, Mapes & Sprowl Steel LLC, Chicago Steel Holdings LLC, JIT Steel Services LLC and Opus Metals LLC.

• M&A: East Lansing-based Medical Advantage Group, a provider or health care consulting services for independent physician practices, acquired Health Care Management of Grand Rapids in July. Health Care Management also services physician practices, including I.T. hardware and managed support and electronic health records. Terms of the deal were not disclosed. The deal allows Medical Advantage to become a full-service provider of management services for physicians, CEO Paul MacLellan said. Medical Advantage serves about 2,000 physician clients and is a wholly owned subsidiary of The Doctors Company, a provider of physician medical malpractice insurance.

• M&A: Grand Rapids-based environmental engineering firm Horizon Environmental Corp. has been acquired by Barr Engineering Co. of Minneapolis, according to a statement. Terms of the deal were not disclosed. The two firms previously worked together on a number of projects, stated Horizon co-founder Allen Reilly. The acquisition of Horizon will create Barr’s second office in Michigan in addition to a location in Ann Arbor. The firm also has offices in Minnesota, Missouri, North Dakota and Alberta.

• M&A: Decatur-based Special-Lite Inc. has entered a definitive agreement to purchase the Omega Door Frame Products business from Architectural Builders Hardware Inc. of Itasca, Ill., according to a statement. Omega manufactures aluminum interior glass framing used in interior office construction. Terms of the deal were not released. Special-Lite expects the sale to be complete by mid-September.

• M&A: The Muskegon Lumberjacks junior hockey team is heading into the 2015-16 season under new ownership. Brothers Bruce and Dan Israel from the Detroit area have taken over the team, which competes in the United States Hockey League, a Tier 1 junior hockey league. The Israel brothers have retained general manager John Vanbiesbrouck and head coach Todd Krygier. The new season is slated to kick off on Oct. 3 and the team will continue to hold games at the L.C. Walker Arena. The team signed a three-year lease with the arena.

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