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Sunday, 29 October 2017 12:57

MiBiz Growth Report: Oct. 30, 2017

Here is the MiBiz Growth Report for Oct. 30, 2017:

• M&A: Stryker Corp. acquired a majority interest in French medical device company Vexim SA and plans to make a tender offer to buy out its remaining shareholders. The Kalamazoo-based Stryker (NYSE: SYK) acquired 50.7 percent of shares and 50.3 percent of voting rights to Vexim, based in Balma, near Toulouse, France. Stryker paid 20 euros per share to funds managed by Truffle Capital, Bpifrance and Kreaxi, as well as Vexim managers. Vexim said the acquisition of the majority stake by Stryker has an equity value of 183 million euros, which equates to about $216 million. Vexim specializes in devices for minimally invasive procedures to treat traumatic spinal pathologies.

Published in In the News

GRAND RAPIDS — Officials from West Michigan acknowledge the region must overcome long odds in its bid to win the economic development sweepstakes for Amazon.com Inc.’s HQ2 project.

Published in Economic Development

As farmers across the state struggle to turn a profit in an era of depressed commodity prices, one aspect of agribusiness — food processing — continues to grow in West Michigan.

Published in Manufacturing

With more than 200,000 medical marijuana patients in Michigan, a thriving industry of growers, processors, transporters and retailers to support them is poised to explode statewide — if communities allow it.

Published in Economic Development

West Michigan educators and at least one business group say the Trump administration’s plan to rescind the Deferred Action of Childhood Arrivals program already is leading to anxiety and uncertainty.

Published in Economic Development
Sunday, 17 September 2017 20:00

MiBiz Growth Report: Sept 18, 2017

Here is the MiBiz Growth Report for Sept 18, 2017:

Published in In the News

West Michigan economic developers plan to jump into an already crowded pool of contenders for Amazon.com Inc.’s proposed $5 billion second headquarters.

Published in Economic Development
Wednesday, 06 September 2017 14:56

Auto-Owners Insurance plans Grand Rapids expansion

GRAND RAPIDS — Auto-Owners Insurance will expand its technology center operations in West Michigan.

Published in In the News
Sunday, 03 September 2017 17:00

MiBiz Growth Report: Sept. 5, 2017

Here is the MiBiz Growth Report for Sept. 5, 2017.

• M&A: U.K.-based Playtech acquired the technology, intellectual property and certain customer assets of ACM Group, whose CEO, Muhammad Al-Amin Rasoul, and management team are based in Grand Rapids. Playtech, a supplier of online gaming software, is listed on the London Stock Exchange and has 5,000 employees in 17 countries. Grand Rapids investment banking firm Charter Capital Partners served as financial adviser for ACM Group, a business-to-business market maker, dealer and broker in London. The deal is expected to close in early September. Terms include an initial upfront payment of $5 million, two staged payments based on the EBITDA of 2017 and 2018, and contingent consideration based on 2019 EBITDA. The total consideration for the transaction is capped at $150 million.

Published in In the News

J-Star Motion Corporation, a Chinese-based furniture components manufacturer, plans to open a $4.9 million manufacturing facility in Cedar Springs.

Published in In the News
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