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Sunday, 19 August 2018 20:05

MiBiz Growth Report: Aug. 20, 2018

Here is the MiBiz Growth Report for Aug. 20, 2018.

Published in In the News

Bulb grower DeGroot Inc. is expanding its facility in Berrien County.

Published in In the News
Sunday, 10 December 2017 21:56

MiBiz Growth Report: December 11, 2017

Here is the MiBiz Growth Report for Dec. 11, 2017.

Published in In the News
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 In the News
Wednesday, 15 February 2017 13:37

Special-Lite invests $1M in Benton Harbor

Special-Lite Inc. has invested $1 million in an expansion project that will alleviate capacity constraints and allow for further growth.

Published in In the News
Sunday, 13 November 2016 14:03

MiBiz Growth Report: Nov. 14, 2016

Here is the MiBiz Growth Report for Nov. 14, 2016: 

• M&A: Byron Center-based SpartanNash Co. (Nasdaq: SPTN) signed a definitive agreement to acquire certain assets of Caito Foods Service Inc. and its Blue Ribbon Transport business for about $217.5 million in cash, according to a statement. The deal includes an earn-out potential of an additional $12.4 million if the business hits performance targets. SpartanNash, which expects the transaction to be accretive to 2017 earnings, will fund the deal with proceeds from its lending facility. Subject to regulatory and other approvals, the deal is anticipated to close in early January 2017. The combined Caito and Blue Ribbon Transport businesses generate annual revenues exceeding $600 million. Caito supplies fresh fruit and vegetables to groceries and distributors in 22 states in the Southeast, Midwest and Eastern regions of the country. The company has facilities in Indiana, Ohio and Florida. SpartanNash was advised on the deal by Deutsche Bank (financial) and Morgan Lewis (legal).

Published in In the News
Thursday, 27 October 2016 11:23

Vickers Engineering invests $5.1M in New Troy

Vickers Engineering Inc. plans to invest $5.1 million in new equipment and facility improvements at its headquarters in New Troy, 15 miles northeast of New Buffalo.

Published in In the News

Parent company Colson Group Inc., a manufacturer and marketer of caster and wheels, will invest $1.5 million and create 50 new jobs with the new 110,000-square-foot center that’s expected to be open by September.

Published in In the News

Benton Harbor-based Cornerstone Alliance will hire a veteran economic development executive to run the organization as it seeks candidates to permanently fill the position.

Published in In the News

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