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Sunday, 27 September 2015 22:35

MiBiz Growth Report: Sept. 28, 2015

Written by  MiBiz Staff
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Here is the MiBiz Growth Report for Sept. 28, 2015.

• M&A: Holland-based GVD Industries acquired Westshore Design LLC, also of Holland. The acquisition of the specialized circuit boards and electronic components manufacturer will allow GVD to integrate that technology into its other holdings and expand into new markets, CEO Gary Van Dyke said in a statement. Westshore Design will retain its name and facility in Holland. Terms of the deal were not disclosed. GVD’s portfolio also includes Grand Rapids-based Advantage Sign & Graphic Solutions and PorterCorp of Holland.

• M&A: Big Dutch Fleet Credit Union in Holland merged into AAC Credit Union. The merger brings AAC Credit Union to 14,080 members and more than $115 million in assets. AAC Credit Union now has six locations in Holland, Zeeland, Spring Lake and Grand Rapids, and plans to open an office in Standale in the spring of 2016.

• M&A: Sodus-based Sun Coast Packaging Inc. has acquired Grand Rapids-based Shapiro Packaging, according to a statement. The acquisition will add additional products and customers to Sun Coast’s operation. Sun Coast plans to retain Shapiro’s current management team as well as the company’s Grand Rapids location. Terms of the deal were not disclosed.

• M&A: Martin Yale Industries LLC — an Indiana portfolio company of Grand Rapids-based private equity firm LV2 Equity Partners LLC — acquired Escondido, Calif.-based Count Machinery Co., according to a statement. Martin Yale manufactures print finishing, office and mailroom equipment. The deal for Count Machinery will help Martin Yale increase its product profile to include UV coating machines, inkjet numbering machines and others. Terms of the deal were not disclosed.

• M&A: West Michigan Obstetricians and Gynecologists became part of Spectrum Health Medical Group on Sept. 1. The practice includes 12 physicians, one maternal fetal medicine specialist and three advanced practice providers who will continue to see patients at the same locations in Grand Rapids and Grandville. West Michigan Obstetricians and Gynecologists serves 16,000 women and performs 1,450 deliveries annually.

• Expansion: Detroit-based Atwater Brewing Co. plans to open a 6,000-square-foot taproom and production facility at CWD Real Estate Investment’s project at the former Rowe Hotel, located at the northwest corner of Michigan Street and Monroe Avenue, according to brewery President and CEO Mark Rieth. The Atwater Brewery in GR Biergarten and Taphouse will have a production capacity of 500 barrels dedicated mostly to specialty beers for the taproom, Rieth said, noting that some of the Grand Rapids-made products could see distribution at select accounts in West Michigan. The Grand Rapids location, which will offer indoor and outdoor seating, is designed as an offshoot of a similar concept the company operates in Grosse Pointe Park, northeast of Detroit.

• Expansion: Chicago-based Munch’s Supply Co. Inc. has expanded its operations to Michigan through an agreement with Trane and American Standard Heating and Air Conditioning. As part of the agreement, Munch’s Supply will be the exclusive distributor of both brands in Michigan’s Lower Peninsula. As of September, Munch’s Supply began operations at Trane’s existing locations in Grand Rapids, Brighton and Madison Heights. The company plans to begin full distribution services by Jan. 1, 2016.

Expansion: Grand Haven-based home appliance and audio retailer Bekins Inc. has partnered with John Higgs, the former owner of Classic Stereo and Video, to revive the high-end audio store, which closed in 2008. Under the partnership, Classic Stereo will partner with Bekins and open a new 3,100-square-foot retail showroom at 6275 28th St. SE, connected to Bekins’ Grand Rapids location. The store is expected to open by the end of October. Bekins also operates a Grand Haven store as well as a 36,000-square-foot warehouse and service center in Coopersville. Under the deal, the terms of which were not disclosed, Higgs and his former business partner Bill Price will join the sales team of the revived Classic Stereo.

• Contract: Grand Rapids-based Alliant Healthcare Products received its largest order in its 13-year history from the U.S. Department of Veteran Affairs. The $10.9 million order was made as part of a larger five-year, $16 million contract to provide endoscopes used for surgical procedures for veterans, according to a statement. Endoscopes from the order will be distributed to nine Veteran Affairs hospitals in five states. Alliant Healthcare works with various medical device manufacturers to coordinate sales with buyers from government organizations.

• Funding: Davenport University received the largest gift in its nearly 150-year history. The $5.5 million over four years donated by the M.E. Davenport Foundation will go to an endowment for what the university calls a perpetual innovation fund that “will support academic and learning-related initiatives not subject to the regular university operating budget.” The donation brings Davenport’s ongoing $25 million capital campaign to more than $18 million. The Grand Rapids-based Davenport University has more than 9,000 students at 12 campuses in Michigan and online.

• Funding: Michigan State University exceeded $1 billion in pledges for a $1.5 billion, multi-year capital campaign. Pledges to the Empower Extraordinary campaign that started in July 2011 totaled more than $1.01 billion as of Aug. 31. MSU received commitments from more than 221,000 donors, 104,952 of whom are Spartan alumni. Among the capital projects included in the campaign was raising about $30 million to help pay for an $88.1 million biomedical research center in Grand Rapids.


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