Industry headwinds such as steel and aluminum tariffs and new disruptors are forcing many West Michigan office furniture makers to deal with new challenges.
Whether via acquisition or partnership agreements, West Michigan’s office furniture makers are looking to fill product holes with their recent spate of deals.
CHICAGO — These days, furniture purchasers likely are interacting with a product virtually before they ever see it in a showroom or store.
Here is the MiBiz Growth Report for July 24, 2017.
• M&A: Ludington-based West Shore Bank acquired Ellis Capital Management in Muskegon. The deal, which closed July 17, extends West Shore Bank’s wealth management services into Muskegon, Ottawa and Kent counties. The bank, with assets of $426 million, previously provided wealth management at its seven branches in Ludington, Manistee and Hart. Ellis Capital Management founder David Ellis, who started the firm in 1997, and his staff joined West Shore Bank’s Wealth Management group. He became a senior vice president primarily responsible for growing the Grand Rapids and Muskegon regions. Ellis Capital Management offices in downtown Grand Rapids and Muskegon will operate under the name of West Shore Bank-Wealth Management. Warner Norcross & Judd LLP advised West Shore Bank in the transaction. Ellis Capital Management was advised by the law firm of Parmenter O’Toole PC.
With an increasingly mobile workforce and an ever greater need for technology investments, companies and entrepreneurs continue to seek out new designs for their offices.
GRAND RAPIDS — Offering shorter lease terms and increased flexibility to tenants may seem counterintuitive to executives in the office development and property management sector.