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After steering Spartan Motors Inc. through a series of changes that helped the manufacturer return to profitability, Daryl Adams knew the timing worked to take the next step in the company’s growth strategy.

Published in M&A Award Profiles
Sunday, 26 June 2016 11:18

MiBiz Growth Report: June 27, 2016

Here is the MiBiz Growth Report for June 27, 2016.

• M&A: German company Kion Group AG, an industrial truck, material handling and logistics automation equipment manufacturer, plans to acquire Dematic Corp. for approximately $2.1 billion in what executives described as a “landmark” transaction. The deal values the logistics and automation firm, whose North American operations are based in Grand Rapids, at an enterprise value of $3.25 billion, according to a joint statement. Dematic generated $1.8 billion in revenues and $166 million in adjusted earnings before interest and taxes during the calendar year 2015. Kion Group will acquire Dematic from funds managed by New York City private equity firm AEA Investors LP and the Ontario Teachers Pension Plan. The deal, which is expected to close in the fourth quarter pending regulatory approval, also carves out “certain liabilities,” according to a statement.

Published in In the News

The sale of the parent corporations for Founders Bank & Trust and The Bank of Holland are the latest deals in a merger trend across the banking industry in Michigan that M&A experts expect will only continue to occur in coming years.

Published in Finance

Before directors at Coldwater-based Monarch Community Bancorp Inc. explored the possibility of a sale or acquiring other banks itself, the organization needed to complete a successful recapitalization strategy and to emerge from under increased regulatory scrutiny.

Published in Finance

Grand Rapids-based Founders Financial Corp. had always expected Founders Bank & Trust to remain an independent community bank, but a key deal for an Ann Arbor lender in January convinced directors to re-evaluate their plans.

Published in Finance

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