Some business exits go smoothly; others, not so much. The key for business owners approaching the time when they’re poised to move on is to plan early and often, and to thoroughly think through their approach to the process.
Blackford Capital’s latest deal brought a new investment partner to the table: Gun Lake Investments, the economic development arm of the Gun Lake Tribe.
The meteoric rise of Michigan’s craft brewing industry has spawned the creation of hundreds of new companies in communities all over the state.
Here is the MiBiz Growth Report for March 19, 2018.
• M&A: Kalamazoo-based Imperial Beverage Co. will enter the Upper Peninsula market after acquiring the beer distribution business of Bayside Beverage from Highland Park-based Great Lakes Wine & Spirits LLC. The move also consolidates distribution for the MillerCoors family of brands as well as opens a new territory for Imperial, which now has four locations in Michigan, according to President Joe Cekola. Terms of the transaction were not disclosed. The deal included an 18,000-square-foot warehouse facility in Ishpeming, Mich. as well as distribution rights for Constellation Brands’ import portfolio, the Boston Beer Co. family of brands and a handful of craft beer brands, including Michigan-based Griffin Claw Brewing Co. and Latitude 42 Brewing Co. Imperial plans to hire roughly 20 employees as a result of the acquisition, including four employees from Bayside. A year ago, Imperial also expanded into spirits as an authorized distributor agent for the state. For Great Lakes Wine & Spirits, the deal follows an August sale of beer distribution rights in Traverse City and Petoskey to Grand Rapids-based Alliance Beverage Distributing LLC.
Among the commercial and industrial borrowers at Lake Michigan Credit Union, about one-third are expanding or buying new equipment that’s needed to grow their businesses.
More bank branches closed in Michigan than in 45 other states in the years following the most recent financial crisis.
The new head of the U.S. Small Business Administration’s Michigan office believes lending should continue to grow, even as volumes for the agency’s federally backed loans keep moving upward.
FREMONT — After closing abruptly two years ago, a state-of-the-art biodigester facility in Newaygo County is getting a second life from one of the nation’s leading clean energy investors.
Michigan should continue to see steady job growth into next year, although manufacturing and the auto industry will become less of a driver.
Business owners across Michigan maintained a relatively upbeat view of the state’s economy at midyear.