Here is the MiBiz Growth Report for Feb. 20, 2017.
• M&A: AMI Entertainment Network LLC in Grand Rapids has acquired NSM Music Group Ltd., a Leeds, U.K.-based manufacturer of jukeboxes. The deal for NSM Music marks the first overseas expansion for AMI, a provider of digital jukeboxes and other products for the nightclub and bar industry, according to a statement. Founded in 1951 in Germany, NSM will maintain its independent branding and headquarters. General Manager Martin Agabeg will report to AMI President Mike Maas. Terms of the deal were not disclosed. Going forward, AMI plans to invest in NSM and enhance the company’s products and service, according to a statement.
When it comes to economic development efforts in Michigan, practitioners and policymakers say it’s important to legislate the tools to attract and retain companies, not individual projects.
Growing up in Kalamazoo, Rishi Makkar vividly recalls his father working nights mopping floors at a gas station while chairing the criminal justice department at Western Michigan University by day.
As the nation’s political and macroeconomic climate changes, The Right Place Inc. says it needs to adapt how it measures its impact.
An increasing appetite for cage-free eggs among consumers will result in a $2 million expansion project for Poultry Management Systems Inc.
Here is the MiBiz Growth Report for Jan. 23, 2017.
• M&A: Bryan Betten and Chris Baker, two veteran West Michigan dealership executives, have acquired Grand Chrysler Dodge Jeep Ram in Lowell from former owner Harvey Koning. Betten-Baker is in the process of acquiring the remaining Grand Auto Family Services Inc. dealerships owned by Koning, which include facilities in Grandville, Allegan and Lowell, said Pete Ricards, division director at Betten-Baker. The company also is acquiring a Big Rapids-based GMC dealership from Gary Trimarco Automotive group, but is waiting on manufacturer approval from General Motors to complete both deals.
NVINT Services LLC plans to invest $364,000 in a facility expansion project that will allow the West Michigan technology company to adhere to its “aggressive growth trajectory” and meet customer demands.
After a strong 2016, most West Michigan manufacturers are looking ahead to this year with optimism that they will continue to grow as the economy expands.
In 2016, The Right Place Inc. attracted $240.6 million in new capital investment through 19 projects across West Michigan. Although the Grand Rapids-based economic development organization fell short of its three-year goals for jobs and payroll growth, President and CEO Birgit Klohs remains optimistic about Michigan’s economy. Klohs expects to attract more high-tech jobs and industries to the state while continuing to work with companies to find available talent in the region. Klohs discussed with MiBiz some of the issues that West Michigan employers and economic development professionals will face in the coming year.
Even with the underlying uncertainty caused by the presidential election, West Michigan manufacturers remain generally optimistic about the year ahead.