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SEI to open Grand Rapids office

Written by | Wednesday, 08 November 2017 14:30 |

A forecast for aggressive growth drove Kentwood-based Service Express Inc. to open a 40,000-square-foot office in the city of Grand Rapids.

Despite some controversy, three millage renewals passed overwhelming in metro Grand Rapids last night, according to unofficial election results.

A portfolio company of private equity firm Blackford Capital bought its second firm in the book printing industry.

Federal tax reform creates winners and losers

Written by | Sunday, 05 November 2017 19:59 |

The reform proposal rolled out by Republicans in Congress to rewrite the U.S. tax code creates the proverbial winners and losers, sources say.

The Grand Rapids Art Museum (GRAM) has asked a judge to rule on whether a former executive who filed a lawsuit alleging the nonprofit routinely misused restricted funds can claim whistleblower status.

Environmental testing firm Kar Laboratories Inc. has been acquired by Minneapolis-based Pace Analytical Services LLC.

PE-backed Morbark acquires Ohio manufacturer

Written by | Friday, 03 November 2017 09:30 |

Forestry equipment manufacturer Morbark LLC has acquired Wooster, Ohio-based Rayco Manufacturing Inc.

After a five-year tenure running Downtown Grand Rapids Inc., President and CEO Kris Larson plans to depart for a similar position in North Carolina.

McLaren Health to acquire Indiana health plan

Written by | Thursday, 02 November 2017 10:59 |

McLaren Health Care Corp. plans to acquire an Indiana health plan.

Inland Seas Engineering acquired by national firm

Written by | Wednesday, 01 November 2017 12:11 |

Inland Seas Engineering Inc., an engineering consulting firm based in Traverse City, was acquired by GEI Consultants Inc., according to a statement.

Dewitt Barrels sells to Florida company

Written by | Wednesday, 01 November 2017 10:47 |

A 124-year-old family-owned company in Marne has sold to a Florida competitor.

Trucking and logistics firm Hutt Logistics Inc. completed a new 81,000-square-foot addition to its “deep-frozen food” storage facility.

MiBiz Growth Report: Oct. 30, 2017

Written by | Sunday, 29 October 2017 12:57 |

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.

Stryker sales up 6.1 percent in third quarter

Written by | Friday, 27 October 2017 11:41 |

Stryker Corp. reported revenues of $3 billion for the third quarter, a 6.1-percent increase from the same period a year earlier.

Macatawa Bank Corp. (Nasdaq: MCBC) reported higher earnings of $4.8 million for the third quarter, or 14 cents per share.

Loan growth buoys earnings for Independent Bank

Written by | Thursday, 26 October 2017 16:01 |

Strong loan growth drove Independent Bank Corp. to higher earnings for the third quarter.

ChoiceOne Financial Services Inc. recorded higher earnings of $1.7 million, or 50 cents per share, for the third quarter. The quarterly result compares with $1.6 million, or 50 cents per share, during the same period a year earlier.

Health insurance rates for small businesses in Michigan will increase an average of 4 percent for 2018.

An ongoing labor dispute between The Rapid and its unionized drivers and maintenance workers has become a wedge issue for groups typically aligned in support of transit millages.

A farmer owned and operated hop grower in northern Kent County has acquired a nearby operation whose owners were looking to move into their next phase of life.

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