GRAND RAPIDS — Mike Hughes, founder of Doorganics LLC, heard loud and clear what his customers wanted, which has the organic grocery delivery service announcing a new partnership. Hughes and his team recently unveiled a partnership with Alan Hartline, a veteran of the grocery industry and owner of Kingma’s Market, located at 2225 Plainfield in Grand Rapids. The new alliance is designed to beef up the Doorganics product line.
Cookies made by volunteers and residents of Degage Ministries are providing people with tasty treats and helping the organization access much-needed funding.
When Alan Hartline purchased Kingma’s Market four years ago, he pivoted away from a corporate world in which he was at the “mercy of quarterly earnings and Wall Street.”
Here is the MiBiz Growth Report for Sept. 5, 2017.
• M&A: U.K.-based Playtech acquired the technology, intellectual property and certain customer assets of ACM Group, whose CEO, Muhammad Al-Amin Rasoul, and management team are based in Grand Rapids. Playtech, a supplier of online gaming software, is listed on the London Stock Exchange and has 5,000 employees in 17 countries. Grand Rapids investment banking firm Charter Capital Partners served as financial adviser for ACM Group, a business-to-business market maker, dealer and broker in London. The deal is expected to close in early September. Terms include an initial upfront payment of $5 million, two staged payments based on the EBITDA of 2017 and 2018, and contingent consideration based on 2019 EBITDA. The total consideration for the transaction is capped at $150 million.
• M&A: Three Rivers-based Armstrong International Inc., a fifth-generation family-owned manufacturer of energy management products, has acquired Delta2 s.r.l. of Milano, Italy, according to a statement. Delta2 makes control valves and pneumatic operators for the oil and gas, food, pharmaceutical, power and industrial markets.
More than a decade into the “Envision Ada” planning process, stakeholders can now see construction activity on new mixed-use buildings they hope will attract new retailers, restaurants and residents to the village.
From craft distilling to artisan food to retailing to niche publishing firms, West Michigan’s small business executives are genuinely upbeat as they look to 2017.
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.