zHere is the MiBiz Growth Report for Jan. 9, 2017.
• M&A: Grand Rapids-based Irwin Seating Co. signed a letter of intent to purchase American Seating Co.’s architectural fixed seating business in a deal expected to close in March 2017, pending due diligence. The business includes products for stadiums, auditoriums and other large venues. The company’s move to divest a “higher profile part of our business was an extremely difficult decision to make,” Chairman and CEO Ed Clark said in a statement announcing the transaction. The sale comes as American Seating seeks “to optimize its operations and resources in order to pursue significant growth opportunities” in its transportation seating business, where the company will continue to focus. American Seating intends to lay off 80 workers early this year as a result of the deal. However, a portion of that workforce may transition into roles at Irwin Seating, according to the statement. Terms of the deal were not disclosed.
Another Michigan-based craft brewery appears to be considering a satellite location on Grand Rapids’ west side.
Holland Home has begun construction on a new $3.3 million building at its campus near 44th Street and Breton Road on Grand Rapids’ southeast side.
The ongoing build out of a new Apple Inc. store at Woodland Mall in Grand Rapids makes for just one of many changes at the region’s oldest enclosed shopping center.
Lake Michigan Insurance Agency, a division of Lake Michigan Credit Union, has acquired Katt Insurance Agency in Belmont.
Accuserve Corp. has purchased Paradigm Plus LLC as the owner of the Jenison-based contract packaging company chose to pursue other ventures.
The expanding chain of HopCat craft beer bars will head oceanside later this year.
Founder and CEO Denise Kohler-Kolesar sold her Grand Rapids-based Kohler Expos Inc. to a longtime employee of the company.
Crystal Flash has acquired Richardson Oil LLC in a move that will expand the company’s footprint in Southwest Michigan.
Irwin Seating Co. signed a letter of intent to purchase American Seating Co.’s architectural fixed seating business in a deal expected to close in March 2017, pending due diligence.
Readers of MiBiz.com continue to gobble up news about downtown Grand Rapids developments and all manner of craft beverage-related stories in 2016.
Oxx LLC, a manufacturer of rugged appliances, in October raised $200,000 from investors to expand its inventory in preparation for the holiday season.
Neogen Corp. has acquired Rogama Indústria e Comércio Ltda. of Brazil, marking Neogen’s fourth acquisition this year.
Members of the DeVos family are increasing their investment play in the craft beverage industry with the acquisition of a majority interest in a Newaygo County maker of hard ciders, MiBiz has learned.
The downtown Muskegon area could soon see its first new market rate apartments in years.