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Haworth sells Quebec-based company

Written by | Thursday, 10 May 2012 09:40 |

HOLLAND — Office furniture manufacturer Haworth Inc. announced Wednesday that it sold one of its companies, the Quebec, Canada-based Groupe Lacasse.

Huntington National Bank will expand its presence in Michigan significantly by opening more than 80 branches inside Meijer Inc. stores across the state in the coming years.

A consortium of companies including casual footwear maker Wolverine World Wide Inc. today announced plans to acquire Collective Brands Inc. for nearly $2.0 billion, including the assumption of debt. The long-rumored transaction will be "transformational" and a "game changer", according to executives of Rockford, Mich.-based Wolverine.

Mel Trotter Ministries has purchased the former River City Slims bar at 243 Commerce Avenue SW, according to Sandra Gaddy, VP of development and marketing for Mel Trotter.

A round-up of this week's activity on the West Michigan deal front.   

Amway scion and ArtPrize founder Rick DeVos has launched a new venture capital fund that blends elements of elevator pitch competitions, business mentoring and community engagement.

Just nine months after it opened the doors on a new facility in the heart of downtown Grand Rapids, the Urban Institute of Contemporary Arts announced its executive director has stepped down as part of a restructuring plan that it hopes "will stabilize the institution's declining financial situation."

Mezzanine financing is becoming a viable option for small and second-stage businesses, say two veteran Chicago-based financiers.  The pair talked about the mezzanine capital's downstream move at the April meeting of the Association for Corporate Growth Western Michigan chapter.  

Former GM site to be marketed as Site36

Written by | Wednesday, 18 April 2012 19:35 |

The Right Place, Lormax Stern and the City of Wyoming hope a new marketing strategy for the former GM stamping plant on 36th Street will get global companies to notice of what the site can offer.

Rumors of a downtown movie theater could be closer to reality following a deal announced today, April 11.

GRAND RAPIDS — One of West Michigan’s public companies has been acquired in a $625 million deal.

X-Rite Inc. (NASDAQ:XRIT) today announced that it has signed a definitive merger agreement with Danaher (NYSE: DHR) under which Danaher will acquire the company for $5.55 per share in cash, or a total of approximately $625 million including the assumption of debt, net of cash. The offer is 39 percent above X-Rite’s closing share price of $4.00 on April 9.

The day of reckoning will be upon us soon if we don’t address the federal budget deficit, and it’s up to business leaders to push Congress on the issue. That was the dour and instructive message delivered to West Michigan business leaders on Tuesday by former U.S. Comptroller David M. Walker at an event sponsored by the Grand Rapids Area Chamber of Commerce. Walker, who served under Presidents Bill Clinton and George W. Bush, on Tuesday gave the keynote address, “Living on Borrowed Time: Solving America’s Debt Crisis,” at the event held at the Amway Grand Plaza.

Citing a broken promise by the Ontario government, West Michigan-based WindTronics Inc. has closed its Canadian plant and will consolidate manufacturing operations in Grand Rapids.

The Michigan Economic Development Corp. doesn’t want to be in the business of picking winners and losers, but it’s hoping a new venture match fund will provide a market-driven program aimed at filling a funding gap for early-stage companies.

Lacks to expand in Michigan

Written by | Wednesday, 28 March 2012 13:10 |

Lacks Enterprises Inc. received a $350,000 Michigan Business Development incentive from the Michigan Strategic Fund to help push through a $31.9 million expansion that could bring 120 new jobs to the area.

Michigan made significant strides in an annual entrepreneurial scorecard issued by the Small Business Association of Michigan. The state’s entrepreneurial climate ranked 15th nationally in 2011, compared to 45th in 2010.

CWD buys downtown Trade Center building

Written by | Wednesday, 14 March 2012 14:29 |

Grand Rapids-based CWD Real Estate Investment today announced it purchased the historic Trade Center Building at 50 Louis Street NW, at the intersection with Ionia Avenue.

Grand Rapids Brewing Co. to open downtown

Written by | Thursday, 08 March 2012 06:51 |

A major corner in Grand Rapid’s downtown entertainment district will soon get a new signature tenant.

CBRE to move GR office

Written by | Wednesday, 07 March 2012 12:42 |

CB Richard Ellis affiliate CRBE Grand Rapids today announced it will move its office to 634 Front St. beginning March 12.

Horn resigns as CEO of Priority Health

Written by | Tuesday, 06 March 2012 10:57 |

After 15 years at the helm, Kim Horn decided to step down as head of Priority Health this spring to pursue a new phase of her career in health care.

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