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.