rss icon

Sunday, 26 November 2017 16:04

MiBiz Growth Report: Nov. 27, 2017

Written by  MiBiz Staff
Rate this item
(0 votes)

Here is the MiBiz Growth Report for Nov. 27, 2017: 

• M&A: Norton Shores-based Nichols Paper and Supply Co. has acquired Indianapolis, Ind.-based Spectrum Janitorial Supply, a provider of cleaning supplies, in a move to continue expanding in the Midwest. Nichols, a distributor of janitorial cleaning supplies and shipping and packing equipment, closed on the transaction on Nov. 6, according to a statement. Terms of the deal were not disclosed. Nichols’ previous acquisitions include Professional Sanitary Supply Corp., Kellermeyer Co. and Industrial Cleaning Supply Co. The company has offices in Grand Rapids, Detroit, Holland and Traverse City in Michigan, as well as two offices in Ohio.

• M&A: Traverse City-based Northwoods Office Express LLC has acquired the managed print sales and service assets, and the printer, copier and typewriter sales and repair assets of Syscom Business Technologies Inc., also of Traverse City. According to a statement, the deal closed Oct. 9. Syscom will continue its managed I.T. service business.

• M&A: New York City-based private equity fund Leeds Equity Partners LLC invested in Grand Rapids-based Fusion Education Group, according to a statement. Terms of the transaction were not disclosed. Fusion offers personalized education at 43 schools it operates in eight states and Washington, D.C., although not in Michigan. Fusion President and CEO Peter Ruppert and the company’s management team will remain with the business after the unspecified investment. Investment banking firm William Blair advised Fusion on the deal. The company was represented by K&L Gates LLP.

• M&A: Marani Brands Inc. (OTC PINK: MRIB) of California acquired a majority stake in Saint Johns, Mich.-based Peppermint Jim LLC, according to a statement. Peppermint Jim operates Crosby Mint Farms with operations in Saint Johns and in Arizona. Fourth-generation mint farmer Jim Crosby, who joined the company’s board of directors, said the deal positions the business to tap into new markets. Previously, GreenStone Farm Services foreclosed on Crosby Mint Farms in 2008, but the family was able to buy it back after going through an eviction and sheriff’s sale, according to reports at the time. For its part, Marani, formerly a wine and spirits company, wants to develop a portfolio of products to build economies of scale. Marani, which is traded on the over the counter market, hasn’t filed with federal securities regulators since 2015.

• M&A: Grand Rapids-based Great Lakes MSO LLC has acquired Walker Surgical Center. The surgery center, located off of Walker Avenue just north of I-96, has three operating rooms that handled nearly 4,900 cases by 23 surgeons in 2016. Walker employs 40 full-time and part-time workers. Grand Rapids Ophthalmology and Foot & Ankle Specialists of West Michigan perform procedures at the center. Great Lakes MSO is the management services organization formed this year by Chicago-based private equity firm Sterling Partners when it acquired a majority stake in Grand Rapids Ophthalmology.

• M&A: Grand Rapids-based Third Coast Development LLC expanded its restaurant portfolio with the acquisition of the assets and real estate of Graydon’s Crossing, a restaurant and bar in Grand Rapids’ Creston neighborhood. Terms of the deal were not disclosed. In August, Third Coast Development’s restaurant division acquired Kuzzin’s Lounge on Grand Rapids’ west side and Drake’s Pub in Wyoming, as MiBiz reported at the time. The company also owns The Garage Bar & Grill on Ottawa Avenue. 

• Funding: Houghton-based StabiLux Biosciences was awarded more than $650,000 in funding from the National Science Foundation’s Small Business Technology Transfer program and Invest Michigan’s University Commercialization Fund, according to a statement. StabiLux is a developer of proprietary, high-brightness dyes for biomedical applications commercialized under the name of NovoLux. The company was founded by Yoke Khin Yap, a physics professor at Michigan Technological University.

• Expansion: Starting Dec. 13, Doorganics LLC of Grand Rapids will begin serving roughly 30 ZIP codes in the metro Detroit region. The expansion will create three new jobs immediately, with plans for an additional 10 employees sometime in 2018. The move into Michigan’s largest market follows the abrupt closing of a competitor, Door To Door Organics Inc. of Louisville, Colo. Doorganics, which started in 2011, has been growing across Michigan this year, opening in the Traverse City area in February.

• Expansion: Monte Package Co. plans to invest $140,000 in an expansion project at its Southwest Michigan headquarters. The 3,600-square-foot building addition for Monte, a Riverside, Mich.-based manufacturer and supplier of packaging for the produce industry, will create two jobs, according to a statement. The expansion will focus on the company’s shipping and receiving area to accommodate increased production. The company did not offer a timetable for when the construction will begin.

• Expansion: Belleville, Wis.-based outdoor retailer Duluth Trading Co. in mid November opened its first West Michigan-area store, a 14,550-square-foot location on an outlot of Rivertown Crossings Mall in Grandville. The retailer also has a location in Macomb, and plans to open a store in Wixom later this month. 

• Expansion: MedData Inc. (NYSE: MD), a Brecksville, Ohio-based provider of technology for hospitals and health care systems, opened a new Grand Rapids-area office this month. The 100,000-square-foot remodeled Patient Services Center on 36th Street SE in Cascade Township will house call center operations and employ about 300 patient service workers initially, with expansion plans calling for more than 600 workers in the future, according to a statement.

Read 1112 times

Breaking News

December 2017
S M T W T F S
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Follow MiBiz