Here is the MiBiz Growth Report for July 11, 2016.
• M&A: Belding-based Robroy Enclosures Inc., a subsidiary of Robroy Industries Inc. of Verona, Pa., acquired the assets of Texas-based Attabox Industrial Enclosures, according to a statement. The deal complements Robroy Enclosures’ existing Stahlin Non-Metallic Enclosures brand of fiberglass electrical enclosures. Attabox makes engineered enclosures for the industrial, solar, electrical, telecommunications, HVAC, instrumentation/control, government, oil and gas, and construction markets. Terms of the deal were not disclosed.
According to the most recent state jobs data, wages for manufacturing production workers in May sunk to their lowest levels in the last 12 years as the average hours worked dipped to the lowest point since 2009. Meanwhile, the number of people working in manufacturing hit its highest level in almost a decade.
Here is the MiBiz Growth Report for May 31, 2016.
- M&A: Sun Capital Partners Inc., a Florida-based private equity firm, has acquired convenience store operator Admiral Petroleum Co. and Lemmen Oil Co. in Coopersville. Admiral operates 130 Admiral gas stations and convenience stores in Michigan and Indiana, plus nine under the Lemmen brand name. Terms of the deal were not disclosed. Sun Capital named Jeff Turpin, a 20-year veteran of the convenience store industry, as CEO. Turpin previously served as chairman and CEO of VPS Convenience Store Group, a former portfolio company of Sun Capital.
After reaching full capacity at its Grand Rapids production facility, Kent Quality Foods Inc.plans to invest $35 million into a second plant in Ottawa County’s Jamestown Charter Township.
The budget cuts at the state’s economic development organization have forced industry executives in West Michigan to adjust their tactics.
Over the course of 2015, the Zeeland-based economic development firm helped create 780 new jobs and facilitate $110 million of private investment among 22 companies in Ottawa County, according to a statement.