GRAND RAPIDS — The relationship between two companies involved in a 2016 acquisition appears to have soured, with both entities now pointing the finger at each other in federal court.
Here is the MiBiz Growth Report for Nov. 13, 2017:
• M&A: Wabash, Ind.-based Martin Yale Industries LLC, a portfolio company of Grand Rapids-based private equity firm LV2 Equity Partners LLC, acquired Dry-Lam LLC of Shawnee, Kan., according to a statement. The transaction marked the second bolt-on acquisition for Martin Yale, a manufacturer of print finishing, office and mailroom equipment. Dry-Lam is a distributor of laminating equipment and films to the office product and commercial print finishing industries. Terms of the deal were not disclosed, but Dry-Lam’s distribution center will be relocated to Martin Yale’s Indiana facility.
As waves of baby boomers continue to reach retirement age, many have faced the prospect of selling the manufacturing companies they’ve built over the years.
After a banner year for deal flow, the merger and acquisition market seems to have tempered slightly in 2016.