Sunday, 03 September 2017 17:00

MiBiz Growth Report: Sept. 5, 2017

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.

Published in Breaking News

CALEDONIA — Acrisure LLC remained the largest buyer of insurance brokers across North America in the first half of 2017.

Published in Health Care