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Finance (314)

PE firms expect momentum to carry into 2016

Written by | Sunday, 06 March 2016 14:47 |

As private equity deal flow across the U.S. remained strong in 2015, Huron Capital Partners stayed as busy as ever.

An investment firm that serves RDV Corp., the family office for Amway co-founder Richard DeVos, has formed a $130 million private equity fund.

Many credit unions recorded 2015 loan growth in the double digits, said Kenley Penner, a partner and the head of Plante Moran PLLC’s credit union practice. Penner attributes the results and lending growth to a “relatively strong” housing market that’s driving mortgage originations, coupled with strong sales volumes for both new and used vehicles.

Elevated by a couple of major investments, venture capital investing in Michigan life sciences companies in 2015 equaled the dollar value from the prior year with a high number of deals.

A pair of deals would give Chemical Financial Corp. and Huntington Bancshares Inc. larger footprints in Michigan and could renew the momentum for bank M&A in the state.

West Michigan banking roundup: Q4 and year end 2015

Written by | Wednesday, 03 February 2016 11:17 |

Here is a round-up of quarterly and annual performance filings from banks in West Michigan.

By all accounts, 2016 should shape up as another strong year, particularly as banks compete for deals and private equity firms still have plenty of dry powder to deploy. Also bolstering the current market, at least for sellers: Corporate balance sheets remain healthy, and valuations should continue to hold steady at their current elevated levels.

West Michigan's M&A outlook for 2016

Written by | Sunday, 24 January 2016 22:55 |

2015 was a record year for mergers and acquisitions. While experts predict 2016 will be another strong year for M&A activity, they also note subtle shifts in the business and economic landscape that could mark the beginning of the end for the current M&A boom.

Chairman and CEO Mike Price told investors that the Grand Rapids-based Mercantile Bank (Nasdaq: MBWM) remains open to M&A, and even a transaction similar to the $151.5 million “merger of equals” it completed in July 2014 with the former Firstbank Corp.

If you want to sell your business this year, you still have a pretty good chance of cutting a favorable deal as the seller’s market continues.

Thell Woods finally is pushing ahead with a series of crowdfunding platforms across Michigan that small business owners can use to raise startup capital from local investors.

The $62 million investment in an Ann Arbor drug developer, the largest-ever venture capital investment in Michigan, has the potential to drive momentum in the state’s investment capital industry going forward.

Business advocates in Michigan are applauding the Legislature and Gov. Rick Snyder over changes made late last year to the state’s abandoned and unclaimed property process.

MiBiz kicks off the new year with a comprehensive special report on the region’s climate for raising, borrowing and lending growth capital. For local companies looking to expand or acquire, money is flowing as lenders and investors compete for deals. What’s driving the flow of capital and how long will the spigot remain wide open?

Michigan’s venture capital and angel investment industry is growing up fast, getting more sophisticated and starting to make later-stage investments into companies. Meanwhile, private equity firms continue to operate in a hot acquisition market, and family offices are taking a large presence as well and competing more for deals.

There’s little doubt among local executives that commercial lenders are eager to deploy capital to growing businesses. However, that willingness to lend changes when it comes to service-based companies or startup organizations

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