BYRON CENTER — West Michigan could become a hub for innovative waste processing companies in the coming years.
Here is the MiBiz Growth Report for May 16, 2016:
• M&A: Indianapolis-based The XLerate Group, a portfolio company of Detroit-based private equity firm Huron Capital Partners LLC, has acquired Jenison-based Grand Rapids Auto Auction. The deal represents the second acquisition in a year for The XLerate Group, which acquired Schoolcraft-based Greater Kalamazoo Auto Auction in May 2015. XLerate provides dealer-to-dealer auto auctions for used vehicles. Grand Rapids Auto Auction, located at 2380 Port Sheldon Ct., provides used vehicle remarketing to fleet and leasing companies and dealers in Michigan, Illinois and Ohio. Terms of the deal were undisclosed. Through the acquisition, XLerate now has local auto auctions that operate 17 physical and mobile sites in Michigan, South Carolina, California, Texas, Wisconsin and Florida.
Cloud Access.net LLC, an online hosting and web support company, has been acquired by New York City private equity firm Cloud Equity Group LLC.
International food processor and marketer Tyson Foods, Inc. has contributed $80,000 to the Sack Supper program at Kids’ Food Basket.
After 13 years of operating as the Michigan Alternative Energy Center (MAREC), the 25,000-square-foot facility will be rebranded as the Muskegon Innovation Hub, according to the university.
Short’s Brewing Co. has added Wisconsin to its growing distribution network for its craft beer and Starcut Ciders brand.
Goodwill Industries of West Michigan plans this summer to open a new 10,000-square-foot Employment and Training Center in Holland.
Gordon Food Service Inc. (GFS) yesterday reached a $1.85 million settlement with the U.S. Department of Labor over discriminatory hiring practices.
Problems with operations in Europe drove Perrigo Co. plc to a loss in the first quarter amid higher sales.
Plastics distributor Total Plastics Inc. of Kalamazoo has acquired Northeast Plastic Supply of Philadelphia.
After reaching full capacity at its Grand Rapids production facility, Kent Quality Foods Inc.plans to invest $35 million into a second plant in Ottawa County’s Jamestown Charter Township.
Spiech Farms LLC will invest more than $1 million into an expansion project at its production facility in Paw Paw.
Gull Lake Marine plans to open a new retail location in Coopersville on May 14.
Another West Michigan craft brewery plans to expand.
Norton Shores-based Horizon Group Properties Inc. announced yesterday the formation of a partnership to build The Outlet Shoppes at Laredo in Laredo, Texas.