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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
Sunday, 01 May 2016 09:36

MiBiz Growth Report: May 2, 2016

Here is the MiBiz Growth Report for May 2, 2016.

  • M&A: Brad Davis and Lynne Bosgraaf, both formerly executive team members at Grand Haven-based Light Corp., have acquired Ram Electronics Inc., a manufacturer in Fruitport of printed circuit boards, custom wire harnesses and other components. The deal came about as Ram’s previous owner, Don Neidlinger, looked to retire. Zeeland-based Rua Associates LLC advised Davis and Bosgraaf on the deal, the terms of which were not disclosed. The executives partnered with Mercantile Bank Corp. to structure a loan through the Michigan Economic Development Corp.’s collateral support program. The program provides collateral to fund down payments on expansions or mergers and acquisitions.
  • M&A: Lansing-based Neogen Corp., a manufacturer of food and animal safety products, acquired Brazil-based Deoxi Biotecnologia Ltda, an operator of an animal genomics laboratory, according to a statement. Terms of the deal were not disclosed. Deoxi’s management and staff will remain with the company.
Published in In the News

Two former office furniture executives hope to leverage their collective experience as they start on a new business venture in West Michigan.

Published in In the News
Sunday, 03 April 2016 15:54

MiBiz Growth Report: April 4, 2016

Here is the MiBiz Growth Report for April 4, 2016:

• M&A: Cuyahoga Falls, Ohio-based Americhem Group acquired Vi-Chem Corp. of Grand Rapids, according to a statement. Vi-Chem is a supplier of plastic compounds for injection molding, extrusion and blow molding applications. Its customers include companies in the automotive, medical and industrial sectors. Terms of the deal, which closed March 18, were not disclosed. Americhem, a manufacturer of color and additive plastic compounds for the polymer industry, will maintain Vi-Chem’s Grand Rapids operations, where the company employs 85 people. 

Published in In the News

Rua Associates LLC announced yesterday a new joint venture with The Midland Group, a Fort Wayne, Ind.-based business advisory firm.

Published in In the News

Blu Perspective Corp. acquired Grand Rapids-based commercial cleaning company Busy Bea’s Services, according to a statement.

Published in In the News

M&A activity remains strong heading toward the last quarter of 2015, sustaining a seller’s market as financial and strategic buyers compete for good deals.

Published in Finance

Last year, John Essex confronted a decision he had never seriously considered at any other point in his career. Faced with scaling up his business to meet growing customer demand, the CEO of Muskegon-based Port City Group needed to invest millions of dollars in expanding the manufacturer’s capacity to make aluminum and zinc die castings, mechanical assemblies and injection-molded plastic parts.

Published in Manufacturing

Credit and capital remain readily available for companies seeking to make an acquisition or pursuing investors in 2015.

Published in Crystal Ball

Owners who want to sell their businesses need to begin preparing years in advance and plan carefully to do it right, M&A experts say.

Published in Finance
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