Here is the MiBiz Growth Report for March 5, 2018:
• M&A: After nearly doubling the business over the last two and a half years, the private equity owners of Action Fabricators Inc. decided the market timing was right to find a partner to take the company to the next level. Last week, Chattanooga, Tenn.-based River Associates Investments LLC announced it had sold the Grand Rapids-based manufacturer of adhesive-backed products for the automotive and medical device industry to Boyd Corp. of Modesto, Calif. Terms of the deal were not disclosed. Action Fabricators grew revenues from around $45 million in 2015 to nearly $80 million at the time of the sale. President and CEO Jon Rudolph and the rest of the management team will stay on with the new owners. Boyd is a portfolio company of San Francisco-based Genstar Capital. Milwaukee, Wis.-based Robert W. Baird & Co. represented Action Fabricators in the deal.
In a new deal, the Grand Rapids office of Colliers International Inc. seeks to expand its multifamily business.
A 237-unit high-end apartment complex in suburban Grand Rapids has sold for $57 million, MiBiz has learned.
Grand Rapids-based commercial brokerage Beacon Realty Group LLC has closed a deal bringing the Mansard House Apartment complex in Kalamazoo under new, undisclosed ownership.
SPRING LAKE — The residential housing boom in downtown Grand Rapids has led one West Michigan manufacturer of commercial casework and other custom furniture to shift its focus.
GRAND RAPIDS — From an undisclosed $100 million foreign-backed fund to local real estate agents, investors of all kinds are staking their bets on the Grand Rapids housing market.