Displaying items by tag: Charter Capital Partners
GRAND RAPIDS — In a move designed to manage growth in the business, investment banking and M&A firm Charter Capital Partners promoted two managing directors to partners.
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.
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.