Two years before Craig Wassenaar stepped into the role as president and CFO of Skytron LLC, a Cascade Township-based medical device company owned by the Mehney family, the plan for his next role with the business was already well underway.
Here is the MiBiz Growth Report for April 2, 2018.
• M&A: A subsidiary of Universal Forest Products Inc. (Nasdaq: UFPI) plans to acquire “substantially all” of the operating assets of Marietta, Ga.-based North American Container Corp., a producer of packaging products, according to a statement. The deal should close by June 1. Terms of the deal were undisclosed. The acquisition will add steel, corrugated and hardwood packaging to Universal’s lineup of industrial products. North American Container, founded in 1967, operates nine manufacturing facilities in Georgia, South Carolina, Tennessee and Wisconsin and recorded 2017 sales of about $71 million. Universal Forest Products in February reported that it generated $3.9 billion in net sales with net earnings of $119.5 million for 2017.
A West Michigan-based supplier of medical equipment has acquired Clean Start Surgical LLC of Plymouth.
Running any business is challenging, but when you add the dynamics of family ownership into the mix, it creates an entirely different set of hurdles.
Here is the MiBiz Growth Report for April 3, 2017.
• M&A: Industrial and fastener distributor Manufacturer’s Supply Co. has signed an agreement to sell certain assets to Winona, Minn.-based Fastenal Co. (Nasdaq: FAST). Fastenal expected to close on the deal for Manufacturer’s Supply, or Mansco, at the end of March, after this report went to press. Terms of the deal were not disclosed. Hudsonville-based Mansco generated roughly $50 million in sales in 2016 from locations in Michigan, Alabama and Texas. It was founded in 1928. President Jim Mol has operated Mansco for the last 25 years. Mansco supplies a range of fastener products “with a particularly strong market position with commercial furniture OEMs,” a market to which Fastenal “has not meaningfully contributed in the past.”