Blackford Capital’s latest deal brought a new investment partner to the table: Gun Lake Investments, the economic development arm of the Gun Lake Tribe.

Published in Finance

June was a busy month for the Michigan Legislature.

Published in Economic Development

Across West Michigan, Native American tribes have started to hang out their own shingle in enterprises that move them away from the familiar tribal-owned casino.

Published in Economic Development
Sunday, 05 March 2017 20:23

MiBiz Growth Report: March 6, 2017

Here is the MiBiz Growth Report for March 6, 2017:

• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.

Published in Breaking News

The Gun Lake Tribal Gaming Authority has outlined plans for a $76 million expansion of its Gun Lake Casino south of Grand Rapids.

Published in Breaking News