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TecNiq Inc. will invest $6.6 million in the construction of a new 100,000-square-foot production facility in Comstock Charter Township, just east of Kalamazoo.

Published in In the News

The Right Place Inc. President and CEO Birgit Klohs has one word to describe her reaction to the United Kingdom’s decision yesterday to leave the European Union: Disappointment.

Published in In the News
Sunday, 26 June 2016 11:18

MiBiz Growth Report: June 27, 2016

Here is the MiBiz Growth Report for June 27, 2016.

• M&A: German company Kion Group AG, an industrial truck, material handling and logistics automation equipment manufacturer, plans to acquire Dematic Corp. for approximately $2.1 billion in what executives described as a “landmark” transaction. The deal values the logistics and automation firm, whose North American operations are based in Grand Rapids, at an enterprise value of $3.25 billion, according to a joint statement. Dematic generated $1.8 billion in revenues and $166 million in adjusted earnings before interest and taxes during the calendar year 2015. Kion Group will acquire Dematic from funds managed by New York City private equity firm AEA Investors LP and the Ontario Teachers Pension Plan. The deal, which is expected to close in the fourth quarter pending regulatory approval, also carves out “certain liabilities,” according to a statement.

Published in In the News

Downtown-ish Grand Rapids could finally get a “real” grocery store sometime in the future, if plans from Meijer Inc. and Rockford Construction Co. Inc. come to fruition. 

Published in Design Build

OptiMed Specialty Pharmacy in Kalamazoo has received a $500,000 performance-based grant from the Michigan Economic Development Corp. to support a $1.2 million investment for OptiMed’s new home.

Published in In the News

Kent County and other stakeholders plan “two firsts” in providing abatements for Switch Ltd.’s colocated data center in Gaines Charter Township.

Published in In the News

Shipston Aluminum Technologies Inc., a manufacturer of aluminum safety components, plans to invest $10 million to expand its facility in Spring Lake Township.

Published in In the News

West Michigan technology firm, DornerWorks Ltd. plans to beef up its Grand Rapids operation through a $1.3 million investment.

Published in In the News
Sunday, 29 May 2016 11:53

MiBiz Growth Report: May 31, 2016

Here is the MiBiz Growth Report for May 31, 2016. 

  • M&A: Sun Capital Partners Inc., a Florida-based private equity firm, has acquired convenience store operator Admiral Petroleum Co. and Lemmen Oil Co. in Coopersville. Admiral operates 130 Admiral gas stations and convenience stores in Michigan and Indiana, plus nine under the Lemmen brand name. Terms of the deal were not disclosed. Sun Capital named Jeff Turpin, a 20-year veteran of the convenience store industry, as CEO. Turpin previously served as chairman and CEO of VPS Convenience Store Group, a former portfolio company of Sun Capital.
Published in In the News

Kraft Heinz Company has taken the next step in a company-wide consolidation strategy that began in 2015 after Kraft Food Group Inc. merged with H.J. Heinz Company.

Published in In the News
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