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Sunday, 12 November 2017 16:04

MiBiz Growth Report: Nov. 13, 2017

Here is the MiBiz Growth Report for Nov. 13, 2017: 

• M&A: Wabash, Ind.-based Martin Yale Industries LLC, a portfolio company of Grand Rapids-based private equity firm LV2 Equity Partners LLC, acquired Dry-Lam LLC of Shawnee, Kan., according to a statement. The transaction marked the second bolt-on acquisition for Martin Yale, a manufacturer of print finishing, office and mailroom equipment. Dry-Lam is a distributor of laminating equipment and films to the office product and commercial print finishing industries. Terms of the deal were not disclosed, but Dry-Lam’s distribution center will be relocated to Martin Yale’s Indiana facility.

Published in In the News
Wednesday, 08 November 2017 14:33

Food processor Litehouse expands in Lowell

Litehouse Inc., a producer of food dressings, sauces and oils, is investing up to $9.9 million and creating 77 new jobs as part of a project at its plant in Lowell.

Published in In the News
Wednesday, 08 November 2017 14:30

SEI to open Grand Rapids office

A forecast for aggressive growth drove Kentwood-based Service Express Inc. to open a 40,000-square-foot office in the city of Grand Rapids.

Published in In the News
Sunday, 29 October 2017 12:57

MiBiz Growth Report: Oct. 30, 2017

Here is the MiBiz Growth Report for Oct. 30, 2017:

• M&A: Stryker Corp. acquired a majority interest in French medical device company Vexim SA and plans to make a tender offer to buy out its remaining shareholders. The Kalamazoo-based Stryker (NYSE: SYK) acquired 50.7 percent of shares and 50.3 percent of voting rights to Vexim, based in Balma, near Toulouse, France. Stryker paid 20 euros per share to funds managed by Truffle Capital, Bpifrance and Kreaxi, as well as Vexim managers. Vexim said the acquisition of the majority stake by Stryker has an equity value of 183 million euros, which equates to about $216 million. Vexim specializes in devices for minimally invasive procedures to treat traumatic spinal pathologies.

Published in In the News
Sunday, 01 October 2017 20:55

MiBiz Growth Report: Oct. 2, 2017

Here is the MiBiz Growth Report for Oct. 2, 2017.

Published in In the News

West Michigan educators and at least one business group say the Trump administration’s plan to rescind the Deferred Action of Childhood Arrivals program already is leading to anxiety and uncertainty.

Published in Economic Development
Sunday, 17 September 2017 20:00

MiBiz Growth Report: Sept 18, 2017

Here is the MiBiz Growth Report for Sept 18, 2017:

Published in In the News

West Michigan economic developers plan to jump into an already crowded pool of contenders for Amazon.com Inc.’s proposed $5 billion second headquarters.

Published in Economic Development
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, 20 August 2017 22:30

MiBiz Growth Report: Aug. 21, 2017

• M&A: Three Rivers-based Armstrong International Inc., a fifth-generation family-owned manufacturer of energy management products, has acquired Delta2 s.r.l. of Milano, Italy, according to a statement. Delta2 makes control valves and pneumatic operators for the oil and gas, food, pharmaceutical, power and industrial markets.

Published in In the News
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