Here is the MiBiz Growth Report for Sept. 6, 2016:
• M&A: Lansing-based Eckhart Inc., a portfolio company of private equity firm LFM Capital of Nashville, Tenn., acquired Auto Craft Tool & Die Inc. and 3 D Sales Inc., both of Algonac, Mich., in a deal to add more controls, robotics, and automation-based solutions and distribution capabilities. Auto Craft operates facilities in Marine City, where it makes material handling systems and specialized tooling for industrial manufacturers. The company manufactures door and instrument panel carriers and automatic guided carts. The related 3 D Sales business distributes industrial ergonomic and work cell components. The deal, the terms for which were not disclosed, was the first for Eckhart, a manufacturer of ergonomic assembly line equipment that last year joined the LFM Capital portfolio. The Nashville-based private equity firm focuses on lower middle-market manufacturers and industrial services providers with enterprise values in the $15 million to $75 million range.
Michigan Blood has named long-time health care executive Jim Wilson as president.
A business accelerator started by regional economic development organization Lansing Economic Area Partnership (LEAP) has been awarded a $50,000 grant from the U.S. Small Business Administration (SBA).
Stryker Corp. has acquired Ivy Sports Medicine LLC, a Montvale, N.J.-based producer of products to repair meniscal tears in the knee.
Lake Michigan Insurance Agency, a division of Grand Rapids-based Lake Michigan Credit Union, acquired Minor Field Agency in Kalamazoo.
Universal Forest Products Inc. (Nasdaq: UFPI) today signed a definitive agreement to buy idX Corp. in a deal valued at about $68 million.
Walker-based big box retailer Meijer Inc. will roll out a home grocery delivery service later this month to customers in Detroit and Southeast Michigan.
Wolverine World Wide Inc. is investing approximately $1 million into an expansion at its Big Rapids facility, which primarily manufactures its Bates brand of military footwear.
Coming off its merger with eMerge West Michigan earlier this year, Grand Rapids-based Start Garden LLC has spun off its venture capital arm into a new entity.
Moving outside of its Detroit-area market for the first time, Level One Bank plans to enter the Grand Rapids area.
Agility Health Inc. increased revenue for the second quarter.
Global pharmaceutical giant Pfizer Inc. has taken the next step in its proposed $146 million expansion to its manufacturing facility in Southwest Michigan.
Vision Real Estate Investment Inc., a Grand Rapids-based real estate investment firm, has acquired a Big Rapids student housing facility.
Food distributor and retailer SpartanNash Co. has promoted COO Dave Staples to the role of president and COO.
GRAND RAPIDS — An investment banking adviser believes the current environment in the contract furniture industry should lead to more deals getting done before the end of the year.