Here is the MiBiz Growth Report for July 25, 2016:
• M&A: Gun Lake Rentals LLC of Wayland was acquired by Arya and Austin Khoshnegah. Terms of the deal were not disclosed. Founded in 2003 by Alex Cazala, Gun Lake Rentals offers an array of watercraft including boats, jet-skis and kayaks. The company provides training and instruction, indoor and outdoor boat storage, winterizing, pre-season care and sells various boating accessories. Calder Capital LLC in Grand Rapids represented Gun Lake Rentals in the transaction.
• M&A: The West Michigan office of commercial real estate brokerage Colliers International is now under the corporate ownership of Toronto-based parent firm Colliers International Group Inc. The acquisition will allow the Grand Rapids-based firm — with satellite offices in Kalamazoo and Holland — to be part of a global brand, according to a statement. A Colliers West Michigan spokesperson told MiBiz the firm does not expect significant personnel or operational changes as part of the acquisition. Terms of the deal were not disclosed.
• Expansion: Pine Rest Board Christian Mental Health Services plans to expand its inpatient capacity in Cutlerville. The $12.4 million project involves building a 26,000-square-foot patient wing to the Van Andel Center, where the 26 beds fluctuate between adult and adolescent use, plus adding a new entrance and contact center for patient registration. The project is scheduled for completion in spring 2017. Holland-based Elzinga & Volkers serves as construction manager. Pine Rest acquired 16 of the 26 beds in 2014 from Carson City Hospital and earned state certificate of need approval to expand to another 10 beds.
• Expansion: Holland-based Grand-Craft Boats LLC purchased the former Chris-Craft manufacturing facility last year and has started building a prototype for its new Super Sport mahogany-wood boat at the location. The luxury boat builder also has shifted production of vessels under 30 feet in length to the 10,000-square-foot facility, instead of making them at its headquarters at 1821 Ottawa Beach Road.
• Expansion: DENSO International America Inc. will invest $37 million to buy machinery and automation equipment for its manufacturing facility in Battle Creek, according to a statement. In addition to purchasing equipment, DENSO also received approximately $688,000 from the Michigan Economic Development Corp. (MEDC) to expand its training efforts and hire an additional 60 workers.
• Expansion: Grand Rapids-based DK Security has won a federal contract to provide armed security for at least a year to the Soo Locks in Sault Ste. Marie, according to a statement. The contract has the potential to be renewed to up to three years. The company hired 25 additional security officers to accommodate the new contract, according to a statement.