Here is the MiBiz Growth Report for April 30, 2018.
• M&A: New York City-based Standard Media Group LLC, a new investor-backed media company, has entered into a definitive agreement with Sinclair Broadcast Group Inc. of Hunt Valley, Md. to acquire Grand Rapids-based Fox 17 WXMI and eight other stations around the country. The $441.7 million cash deal would create a new media company affiliated with Standard General LP, an SEC-registered investment adviser that manages capital for public and private pension plans, endowments, foundations, and high net worth individuals. The deal, which is subject to regulatory approval, is expected to close in conjunction with the Sinclair-Tribune transaction. As MiBiz previously reported, Sinclair is trying to appease government regulators in a bid to finalize its $3.9 billion acquisition of Chicago-based Tribune Media Co., which currently owns Fox 17.
Here is the MiBiz Growth Report for June 13, 2016.
• M&A: National Coatings Inc. in Traverse City was acquired by Color Masters Painting of Raleigh, N.C. Terms of the deal were not disclosed. Established in 1996, National Coatings is a commercial and industrial painting company. Color Masters employs 120 people and will add 160 employees with the acquisition as it targets 2017 sales of $30 million, according to owner and founder Zeb Hadley. M&A firm Calder Capital LLC in Grand Rapids represented National Coatings and sourced the buyer.