Displaying items by tag: Charter Capital Partners
M&A/PE Roundtable: Advisers see strong M&A market ahead, even as distressed deals, due diligence ramps up
M&A professionals expect the dealmaking market to remain healthy in 2019. That’s one of the conclusions from a panel of executives MiBiz assembled to talk about West Michigan’s mergers and acquisitions sector.
A recapitalization in late 2010 put Grand River Aseptic Manufacturing Inc. on the path to triple-digit annual growth.
Time to Act? Advisers tell clients to accelerate transaction timelines to take advantage of strong valuations
Mergers and acquisition activity remained strong in West Michigan through the third quarter, as many sellers opted to go to market while they can still get a good price for their businesses.
Sell Local: Initiative asks business owners to consider preserving local ownership when looking to exit
One West Michigan adviser hopes to channel the cultural shift toward localism into corporate succession planning by helping business owners preserve local ownership of their companies after an exit.
GRAND RAPIDS — Investment firm Grand Angels plans to launch its third venture capital fund, MiBiz has learned.
GRAND RAPIDS — The newest investment fund in West Michigan offers a new model for individual investors to take their first steps into the world of venture capital.
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Whether via acquisition or partnership agreements, West Michigan’s office furniture makers are looking to fill product holes with their recent spate of deals.
GRAND RAPIDS — SpendMend LLC, a company that provides spending visibility and audit and recovery services to the health care industry, sold a majority stake to Chicago-based private equity firm Sheridan Capital Partners.
M&A activity should remain strong in 2018 and perhaps get a push from federal tax reform.
GRAND RAPIDS — Grand River Aseptic Manufacturing Inc. was struggling in late 2010 when a group of West Michigan investors put up $5 million to acquire the company’s assets.
With three acquisitions and two exits under his belt in the last year and a half, Martin Stein continues to drive a steady pace of deal activity at Blackford Capital.
While advising on more than two-dozen transactions over a 12-month period, Dustin Daniels saw firsthand the growth of private equity’s role in mergers and acquisitions in West Michigan.
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Here is the MiBiz Growth Report for Oct. 2, 2017.
Here is the MiBiz Growth Report for Sept. 5, 2017.
• M&A: U.K.-based Playtech acquired the technology, intellectual property and certain customer assets of ACM Group, whose CEO, Muhammad Al-Amin Rasoul, and management team are based in Grand Rapids. Playtech, a supplier of online gaming software, is listed on the London Stock Exchange and has 5,000 employees in 17 countries. Grand Rapids investment banking firm Charter Capital Partners served as financial adviser for ACM Group, a business-to-business market maker, dealer and broker in London. The deal is expected to close in early September. Terms include an initial upfront payment of $5 million, two staged payments based on the EBITDA of 2017 and 2018, and contingent consideration based on 2019 EBITDA. The total consideration for the transaction is capped at $150 million.
Private equity investors have more capital to deploy today than they have in years.
GRAND RAPIDS — Following careers in investment banking and family offices, two West Michigan professionals have struck out on their own.
Here is the MiBiz Growth Report for March 20, 2017:
• M&A: Grand Rapids-based fuel distributor Crystal Flash Inc. has expanded its geographic footprint into Southeast Michigan with the acquisition of Adrian-based Lenawee Farm Bureau Oil Cooperative, which has more than 500 customers. Two employees will stay on with Crystal Flash, according to a statement. Terms of the deal, which was finalized this month, were not disclosed. Lenawee County Farm Bureau Oil Cooperative serves agricultural, commercial, construction and home heating oil customers. Grand Rapids-based Charter Capital Partners served as financial adviser to Crystal Flash on the deal. The employee-owned company employs 250 people at 15 locations in Michigan.
MIDLAND — For the third time in two years, Chemical Financial Corp. wants to have more shares on hand to as it pursues additional acquisitions.
zHere is the MiBiz Growth Report for Jan. 9, 2017.
• M&A: Grand Rapids-based Irwin Seating Co. signed a letter of intent to purchase American Seating Co.’s architectural fixed seating business in a deal expected to close in March 2017, pending due diligence. The business includes products for stadiums, auditoriums and other large venues. The company’s move to divest a “higher profile part of our business was an extremely difficult decision to make,” Chairman and CEO Ed Clark said in a statement announcing the transaction. The sale comes as American Seating seeks “to optimize its operations and resources in order to pursue significant growth opportunities” in its transportation seating business, where the company will continue to focus. American Seating intends to lay off 80 workers early this year as a result of the deal. However, a portion of that workforce may transition into roles at Irwin Seating, according to the statement. Terms of the deal were not disclosed.
Mergers and acquisitions within the banking industry are expected to maintain a steady pace in the new year.
More of the same? Seller’s market largely unfazed by rising interest rates, politics as deal flow keeps pace
Professionals working in mergers and acquisitions in West Michigan expect strong deal flow to continue in 2017, maintaining a seller’s market.
The availability of scientific and executive management talent and the access to later-stage investment capital remain major issues for Michigan’s life sciences industry.
FRUITPORT — A connection Chris Witham made five years ago at a trade show in Anaheim, Calif. culminated in a major investment that will position Motion Dynamics Corp. for growth in the medical device industry.
Here is the MiBiz Growth Report for Sept. 6, 2016:
• M&A: Lansing-based Eckhart Inc., a portfolio company of private equity firm LFM Capital of Nashville, Tenn., acquired Auto Craft Tool & Die Inc. and 3 D Sales Inc., both of Algonac, Mich., in a deal to add more controls, robotics, and automation-based solutions and distribution capabilities. Auto Craft operates facilities in Marine City, where it makes material handling systems and specialized tooling for industrial manufacturers. The company manufactures door and instrument panel carriers and automatic guided carts. The related 3 D Sales business distributes industrial ergonomic and work cell components. The deal, the terms for which were not disclosed, was the first for Eckhart, a manufacturer of ergonomic assembly line equipment that last year joined the LFM Capital portfolio. The Nashville-based private equity firm focuses on lower middle-market manufacturers and industrial services providers with enterprise values in the $15 million to $75 million range.
GRAND RAPIDS — An investment banking adviser believes the current environment in the contract furniture industry should lead to more deals getting done before the end of the year.
Herman Miller Inc.’s highly praised $154 million acquisition in 2014 of high-end furniture retailer Design Within Reach Inc. may not legally have occurred.
Here is the MiBiz Growth Report for May 16, 2016:
• M&A: Indianapolis-based The XLerate Group, a portfolio company of Detroit-based private equity firm Huron Capital Partners LLC, has acquired Jenison-based Grand Rapids Auto Auction. The deal represents the second acquisition in a year for The XLerate Group, which acquired Schoolcraft-based Greater Kalamazoo Auto Auction in May 2015. XLerate provides dealer-to-dealer auto auctions for used vehicles. Grand Rapids Auto Auction, located at 2380 Port Sheldon Ct., provides used vehicle remarketing to fleet and leasing companies and dealers in Michigan, Illinois and Ohio. Terms of the deal were undisclosed. Through the acquisition, XLerate now has local auto auctions that operate 17 physical and mobile sites in Michigan, South Carolina, California, Texas, Wisconsin and Florida.
Following a two-year preparation process, Crystal Flash has successfully transitioned to a 100-percent employee-owned company.
PARCHMENT — Advia Credit Union’s proposed acquisition of Mid America Bank, a small community bank in southern Wisconsin, is the kind of deal that occurs infrequently in the financial services industry.