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Sunday, 18 February 2018 20:07

MiBiz Growth Report: Feb. 19, 2018

Here is the MiBiz Growth Report for Feb. 19, 2018: 

• M&A: Great Lakes Scrip Center Inc., a West Michigan-based provider of gift cards for fundraising, was acquired by Minneapolis, Minn.-based Bold Orange, a recently formed marketing firm. Over 23 years, Great Lakes Scrip Center has worked with more than 48,000 organizations to raise $680 million. The company last spring acquired The Manna Group in Palatine, Ill. and was the largest gift card company in the nation. Local operations at Great Lakes Scrip, which employs about 90 people, will continue “business as usual,” said Jill Whalen, vice president for retail operations.

Published in In the News

Tim Streit and McKeel Hagerty started venture capital fund Grand Ventures I LP in Grand Rapids last March and went on to make three investments during the year in companies in Ohio, Indiana and Michigan. Each of the deals were co-investments for Grand Ventures, which invests early-stage capital in technology startups in agriculture, manufacturing, mobility and transportation, as well as other industries in Michigan and the Midwest. A regulatory filing last spring indicated the venture capital fund planned to raise up to $50 million from investors.

Published in Crystal Ball
Sunday, 03 September 2017 17:00

MiBiz Growth Report: Sept. 5, 2017

Here is the MiBiz Growth Report for Sept. 5, 2017.

• M&A: U.K.-based Playtech acquired the technology, intellectual property and certain customer assets of ACM Group, whose CEO, Muhammad Al-Amin Rasoul, and management team are based in Grand Rapids. Playtech, a supplier of online gaming software, is listed on the London Stock Exchange and has 5,000 employees in 17 countries. Grand Rapids investment banking firm Charter Capital Partners served as financial adviser for ACM Group, a business-to-business market maker, dealer and broker in London. The deal is expected to close in early September. Terms include an initial upfront payment of $5 million, two staged payments based on the EBITDA of 2017 and 2018, and contingent consideration based on 2019 EBITDA. The total consideration for the transaction is capped at $150 million.

Published in In the News
Sunday, 09 July 2017 17:37

MiBiz Growth Report: July 10, 2017

Here is the MiBiz Growth Report for July 10, 2017:

• M&A: Portage-based Carl Walker Inc., an architecture and engineering firm specializing in the parking garage sector, was acquired on June 30 by Wantman Group Inc., a West Palm Beach, Fla.-based design, planning and surveying firm, according to a statement. Carl Walker became a wholly-owned subsidiary of WGI Structures. President and CEO Gary Cudney, along with other key executives, principals and associates, will remain with the company. The company will continue to be known as Carl Walker and will be branded as a division of WGI. Terms of the deal were not disclosed. Carl Walker has designed parking structures all over the country, including many of the garages built along the Medical Mile health care development in downtown Grand Rapids. Fayetteville, Ark.-based Zweig Group represented Carl Walker in the deal.

Published in In the News

GRAND RAPIDS — In seeking to raise up to $50 million for its first fund, Grand Ventures I LP could soon add to the availability and accessibility of venture capital in Michigan. 

Published in Finance

A new venture capital fund based in Grand Rapids plans to target investments in early-stage companies in the Midwest, MiBiz has learned.

Published in In the News

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