Here is the MiBiz Growth Report for Nov. 26, 2018.
Mergers & Acquisitions
- Grand Rapids-based SpartanNash Co. (Nasdaq: SPTN) plans to acquire Martin’s Super Markets Inc., a family-owned grocery chain based in South Bend, Ind. The deal would extend the retail footprint for SpartanNash into adjacent markets in northern Indiana and in Southwest Michigan, where Martin’s operates 21 stores and has about 3,500 employees. Martin has three stores in Michigan, in Niles, Stevensville and St. Joseph. For the fiscal year that ended July 29, Martin’s had more than $450 million in net sales. The deal should close first quarter of 2019. Terms were undisclosed. The Grand Rapids-based law firm of Warner Norcross + Judd LLP served as legal adviser to SpartanNash on the transaction.
- Parchment-based Advia Credit Union would gain a larger market presence in northern Illinois with the proposed acquisition of Woodstock, Ill.-based Golden Eagle Community Bank. The deal would give Advia Credit Union three more offices in the northern Illinois and southern Wisconsin market for a total of 13 branches. The deal would be Advia’s third bank acquisition in more than two years. The transaction could close in the second quarter of 2019, pending regulatory and shareholder approval. Terms of the deal were undisclosed.
- •Grand Rapids-based EPS Security has made its second acquisition of 2018 with a deal for Owosso-based Security Alarm Co., according to a statement. The transaction allows EPS Security to broaden its existing services in Lansing and the southeastern portion of the state, according to a statement. The family-owned EPS Security plans to retain six Security Alarm employees with the deal, which also included the company’s office in Owosso. Terms of the deal were not disclosed.
- VERBIO North America Corp., the Grand Rapids-based subsidiary of a German energy company, has acquired a cellulosic ethanol plant in Nevada, Iowa from DuPont Industrial Biosciences. Terms of the transaction were not disclosed.
- Grand Rapids-based Schuil Coffee Co. has acquired the wholesale coffee business of The Sparrows Coffee & Tea & Newsstand LLC. The deal will allow The Sparrows access to additional roasting capacity and capital, while giving Schuil additional talent in speciality roasting, according to a statement. The Sparrows’ founder Lori Slager Wenzel will continue to operate the company independently and will join Schuil as general manager of the wholesale business. Two other employees also are joining Schuil as part of the acquisition.
- Mercer Advisors Inc., a national registered investment advisory firm, acquired Financial & Investment Management Group Ltd., a wealth management firm headquartered in Traverse City with offices in Onalaska, Wis., and Kahului, Hawaii. FIM Group serves more than 1,500 affluent and high net worth clients and has $600 million in assets under management. The deal bolsters Mercer’s existing footprint in the Detroit metropolitan area, Chicago, and Columbus, Ohio.
- Edge Partnerships LLC and Publicom Inc. merged into a combined marketing, public relations, design and digital agency under the name Edge Publicom with offices in downtown Lansing. The agency’s client list includes a mix of government, health care, insurance, finance, education, technology and a broad array of entrepreneurs and businesses.
- AUVESY GmbH, a German-based provider of data management software for industrial automation, plans to make West Michigan its home base for expansion into the U.S. Working with The Right Place Inc. and NAI Wisinski of West Michigan, AUVESY signed a lease for space in the McKay Tower in downtown Grand Rapids for the headquarters of a newly formed U.S subsidiary. Robert Glaser, a shareholder in the firm who previously held the position of director of research and development, will lead the new Grand Rapids-based subsidiary and recruit staff.
- ABTZ Properties bought an 18,600-square-foot office building located on Stadium Drive in Kalamazoo that Braintrust Behavioral Health LLC will use to house administrative and clinical staff offices and an autism center. Braintrust Behavioral Health’s services include early intervention for families and children with autism, and family support and training for those experiencing behavioral challenges. NAI Cressy represented the seller. NAI Wisinski of West Michigan has been retained as the leasing agent for another 3,000 to 4,650 square feet of space at the property.
- Kalamazoo-based recycler Schupan & Sons Inc. plans to invest $10.1 million into expansions at a pair of locations in Southwest Michigan. The metal and plastics recycling company said the investment would help grow its metals service center and manufacturing division, which will expand by 40,000 square feet. Schupan & Sons expects to create 50 new jobs over the next three years as a result of the expansion, according to a statement. As well, the company could add up to 30 employees to its growing electronics recycling division, also in Kalamazoo. The Michigan Strategic Fund approved a $500,000 performance-based Michigan Business Development Program grant for the company.
- Comstock Park-based Sugar Free Specialties LLC, which does business as Dr. John’s Sugar Free Candies, plans to invest $2.3 million and purchase an existing 25,000-square-foot manufacturing facility in Plainfield Charter Township, where it could add up to 50 new jobs, according to a statement. The company was started by a dentist to make sugar-free nutritional products. The Michigan Strategic Fund is supporting the company’s expansion with a performance-based $250,000 Michigan Business Development Program grant.