Here is the MiBiz Growth Report for March 6, 2017:
• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.
COLDWATER — When Clemens Food Group began searching for a site to house its new 550,000-square-foot pork processing facility, access to wastewater capacity emerged as its top requirement.
GRAND RAPIDS — The Verve Pipe had billed its show at 20 Monroe Live, the long-awaited new Grand Rapids concert hall, as a 20th birthday party for the West Michigan rock band’s platinum-selling “Villains” album.
As they worry about talent and uncertainty, executives from a cross-section of industries voiced optimism in the pro-business policies pushed by President-elect Donald Trump.
Four of the top five investments by venture capital firms in the state went to West Michigan companies in the third quarter.
City Built Brewing Company LLC said today in a statement that it had installed its 10-gallon brewing tanks and plans to be open by early October.
As New Holland Brewing Co. LLC ramps up a major expansion into the Grand Rapids market that’s expected to open next month, President and co-founder Brett Vanderkamp has plenty to keep his mind occupied.
Stakeholders in West Michigan’s commercial real estate industry continue to express cautious optimism for the foreseeable future, despite the emergence of some headwinds.
When Deschutes Brewery founder Gary Fish launched a two-year search to locate the Oregon company’s first satellite production facility, one of his top criteria was determining whether the state and local community wanted his business.
Pioneers of the craft brewing industry face a steep challenge from the growing market they helped establish.