GRAND RAPIDS — Two acquisitions to start 2017 give Lake Michigan Insurance Agency a wider presence across the state to drive growth and pursue further deals in an era of industry consolidation.
Lake Michigan Insurance Agency, a division of Lake Michigan Credit Union, has acquired Katt Insurance Agency in Belmont.
Here is the MiBiz Growth Report for Sept. 19, 2016.
• M&A: Zeeland-based BiaCare Corp., a manufacturer of compression garments and bandages, was acquired by SIGVARIS Group, a Swiss maker of medical compression textiles. BiaCare was founded 12 years ago and employs 22 people in Zeeland, according to a statement. The company developed a range of compression products with velcro wraps to treat lymphedema, lipedema and chronic venous insufficiency. Terms of the deal were not disclosed. SIGVARIS pursued the acquisition as part of its international growth strategy for medically complex compression applications, calling BiaCare “a pioneering leader” in the segment. For BiaCare, the deal “significantly increases our ability to provide physicians and therapists the compression solutions they need,” according to President Keith Hoffman.
Lake Michigan Insurance Agency, a division of Grand Rapids-based Lake Michigan Credit Union, acquired Minor Field Agency in Kalamazoo.