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.