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GRAND RAPIDS – Private equity firm Blackford Capital has sold Grand Equipment Co. in Hudsonville to Chicago-based investment firm Cognitive Capital Partners LLC.

Published in Finance

State lawmakers have reached a compromise on a bill that would allow taxpayers to claim an income tax credit on their investment in a Michigan-based small business.

Published in Small Business

MSU Federal Credit Union plans to add a second office in the Grand Rapids market.

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GRAND RAPIDS — Acrisure LLC is set to bring back roughly 700 employees to its new downtown Grand Rapids office under a flexible in-person work plan that’s likely to boost downtown activity while marking a positive step for commercial office space.

Grand Rapids-based insurance brokerage and fintech Acrisure LLC has closed on a $725 million equity raise that will fund further global expansion.

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Chicago-area insurance brokerage and financial services firm Alera Group has acquired West Michigan Insurance Inc., a Grand Rapids property and casualty agency.

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A proposal by a trio of federal agencies would bring major banking industry regulations into the modern digital age as banking is increasingly done electronically instead of in branch offices.

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CertifID LLC, a Grand Rapids company that developed software to protect money wire transfers in real estate transactions, has closed on $12.5 million in growth capital.

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A Kalamazoo-based investment fund that also looks to cultivate and support a new generation of entrepreneurs who want to own a business will use a $10 million investment to scale operations.

Published in Small Business

Lending to the commercial real estate sector remained strong through the first quarter, particularly for manufacturing and multifamily residential developments.

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AKalamazoo cannabis company’s recent Chapter 11 bankruptcy filing will test some particularly murky legal waters and could potentially set a legal precedent for other cannabis-related businesses facing insolvency.

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Krista Flynn, who started this week in a new role as Midwest regional executive for commercial banking at PNC Bank, discusses the current lending environment in what she describes as relatively volatile economic conditions.

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Angel investing in Michigan rebounded well in 2021 as the amount invested neared — and deal flow exceeded — pre-pandemic levels.

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PNC Bank has named Krista Flynn as its new executive leading commercial banking in the Midwest.

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Huntington Bancshares Inc.’s acquisition last year of Detroit-based TCF Financial Corp. created the second-largest bank operating in Michigan for deposit market share and with more branch offices than any other bank. The Columbus, Ohio-based Huntington, which also now ranks among the 20 largest banks in the U.S., has since worked to integrate TCF.

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Lower fee income resulting from reduced home mortgage originations and the federal government’s Paycheck Protection Program loans caused Macatawa Bank Corp.’s earnings to decline in the first quarter from a year earlier.

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GRAND RAPIDS — Independent Bank Corp. has recorded lower earnings so far this year as mortgage originations and refinancings slowed.

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Huntington Bancshares Inc. expects to soon name a new leader for its West Michigan market following the recent departure of former regional president Krista Flynn.

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A Grand Rapids startup seeks to do for bicycling what Uber and Lyft have done for transportation or DoorDash, Instacart and similar ventures have done for food and retail delivery.

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GRAND RAPIDS — Mercantile Bank Corp.’s earnings declined in the first quarter from a year earlier as refinancing for home mortgages decreased and reduced fee income.

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GRAND RAPIDS — Gun Lake Investments assumed full operating control through a new investment in Dallas, Texas-based Hall Technologies LLC, a designer and producer of professional audio/visual systems. 

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A Traverse City-based credit union plans to enter the West Michigan market with the planned opening of three branches in Holland, Zeeland and Muskegon, along with several more in the years ahead.

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CALEDONIA — Aspen Surgical Products Inc. has received additional capital from Boston-based Audax Private Equity to support further growth.

Published in Health Care

After an active dealmaking year in 2021 that was fueled by private equity, the M&A outlook for 2022 is slightly more clouded as inflation grows to 40-year highs, the Federal Reserve begins bumping up interest rates and Russia’s invasion of Ukraine disrupts financial markets.

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The Federal Reserve last week began the first of what’s expected to be several quarter-point interest rate increases to help curb inflation that’s running at a 40-year high.

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The Federal Reserve made the first of what’s expected to become multiple interest rate increases this year.

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Michigan’s business tax climate ranks comparatively well to other states, and business advocates say election-year tax cuts proposed in Lansing could further improve that standing.

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MillerKnoll Inc., Bell’s Brewery Inc. and Huntington Bank were among the top award-winning deals in this year’s MiBiz M&A Deals and Dealmaker Awards.

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$500,000 investment from a venture capital fund supporting companies operated by minorities and people of color will help advance Anthony Chang’s vision for a network of advanced cancer treatment clinics across the U.S.

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GRAND RAPIDS — Independent Bank Corp.’s earnings declined in the final three months of 2021 but grew overall for the year.

Published in Finance
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