Breaking News

GRAND RAPIDS — Grand Ventures led an investment round in CRE Simple Inc., an Oakland, Calif.-based fintech firm focused on commercial real estate.

ZEELAND — The United Auto Workers strike against General Motors has cost Tier 1 automotive supplier Gentex Corp. about $7 million to $8 million per week in lost sales. 

ADA — Amway Corp. and parent company Alticor Inc. recently filed a trademark infringement lawsuit against an eBay Inc. seller based in Brooklyn, N.Y.  

WAYLAND — A 72,000-square-foot expansion at Gun Lake Casino will allow the operation to grow its gaming, restaurant and entertainment options. 

MUSKEGON — Iroquois Hoods Inc., a Muskegon maker of laboratory furniture with a focus on custom fume hoods, was acquired by entrepreneurs Rick Claypool and Nate Thornton.

BATTLE CREEK — JPG Resources, a Battle Creek-based food and beverage consulting group, has been awarded a $208,618 grant from Battle Creek Unlimited (BCU) through its downtown Real Estate Improvement Fund. 

GRAND RAPIDS — Mercantile Bank Corp. maintained solid growth and earnings through the third quarter.

GRAND RAPIDS — NaturaShield LLC, a Grand Rapids-based energy efficient roofing company, has relocated to the Cottage Grove neighborhood on the city’s southeast side.

ADA — Retailer Bill & Paul’s Sporthaus is expanding in Ada with Beyond by Bill & Paul’s, an outdoor lifestyle, clothing, footwear and accessories store.

Traditional, outdoor agriculture is profoundly dependent on climate, but high-tech indoor farms that grow premium, hyper-local produce for consumers year round may be commercially viable in the future.

GRAND RAPIDS — Mary Free Bed Rehabilitation Hospital and Covenant HealthCare in Saginaw expanded their joint venture that began nearly two years ago with inpatient rehab care.

GRAND RAPIDS — Carroll Capital LLC, a Greenwich, Conn.-based family office, has acquired Grand Rapids-based Elevator Service LLC from owner Nate McFadden.

EAST LANSING — The dean of Michigan State University’s medical school will move into a new position where he’ll lead administration of health care academics, research and clinical care.

KALAMAZOO — An influx of patients referred to Indiana to access inpatient mental health care led a South Bend operator of adult psychiatric hospitals to propose a new facility in Kalamazoo County.

GRAND RAPIDS — TG Manufacturing LLC created a new division to acquire Grand Rapids-based A2Z Coatings LLC, a supplier to the automotive, material handling and gaming industries.

KALAMAZOO — A Grand Rapids mezzanine fund’s investment will enable Keystone Solutions Group to maintain its strong growth trajectory in the years ahead.

On top of ongoing trade disputes and the disruptive GM strike, two statistical gauges of the U.S. manufacturing industry hit new lows, leaving economists and manufacturers preparing for a meaningful economic shift from a decade of growth. 

GRAND RAPIDS — Red Oak Capital Group LLC plans to raise another $50 million through a public bond offering for a third fund to offer bridge loans for commercial real estate.

Even if the U.S. Senate were to pass a bill to make it easier for banks and credit unions to serve the emerging cannabis industry, questions remain over just how many financial institutions will act quickly on the opportunity.

GRAND RAPIDS — In the case of the $160 million Studio Park project, it took a city to build one of the largest developments in the recent history of downtown Grand Rapids.

ZEELAND — The $70,000 grant Lakeshore Advantage Corp. received this summer will go toward examining one potential solution to a problem resulting from the economic vitality of Ottawa and Allegan counties: a lack of suitable available land for industrial development.

GRAND RAPIDS — Woodland Mall is inviting shoppers to “rediscover” the center after its $100 million redevelopment, which has paved the way for a wave of new retailers. 

Michigan’s economic growth “slowed down considerably” during the spring and summer, although University of Michigan economists doubt the state is on track for a downtown in the next two years.

The polar vortex early this year strained Michigan’s energy supply as the state experiences an “unprecedented shift” in the way it produces power and relies more heavily on natural gas and renewables, according to state regulators.

MiBiz presents the 7th Annual M&A Deals & Dealmakers Awards, our yearly spotlight of best practices and excellence related to mergers, acquisitions, capital formation and other types of dealmaking throughout West Michigan. 

An emphasis on shared family values and the promise of continued investment and growth made last year’s sale of privately-owned Structural Concepts Corp. to private equity firm Mason Wells a “very friendly, reasonably smooth deal all the way along.”

Investors initially wanted to up their ante and take their stake in Caledonia-based Acrisure LLC to several times their existing holdings.

When Fox Motors negotiates deals to buy other dealerships, the Grand Rapids-based company prioritizes treating sellers fairly in the transactions. 

On the heels of a range of downtown developments coming online in recent years, Orion Real Estate Solutions saw further demand for Class A office space in Grand Rapids. 

Raising $25 million in capital and acquiring a mortgage company positioned Northpointe Bank for even more growth in the years ahead.

With former CEO Jim Edmonson back at the helm and a new board of directors, Muskegon Area First has positioned itself for fiscal and programmatic growth to support Muskegon County’s economic development into the next decade.

Perrigo Co. plc’s $750 million acquisition of Ranir Global Holdings LLC brought together two companies that essentially were following the same path when their CEOs decided to talk business toward the end of 2018.

Since securing a $40 million capital investment last spring, Vestaron Corp. has been assembling commercial and operating teams as it prepares for the broad launch of a brand of eco-friendly pesticides in 2020.

The February deal for Grand Rapids-based tech firm Conway, Dierking & Hillman Inc. allows Red Level Networks LLC to expand its client list, core I.T. services and reach across the state. 

The March 2019 merger of Porter Hills Presbyterian Village Inc. in Grand Rapids and Chelsea-based United Methodist Retirement Communities Inc. brought together the strengths of two like-sized and like-minded organizations. 

The Grand Rapids-based law firm Warner Norcross + Judd LLP has spent more than a decade as the U.S. counsel for Canada and the Windsor-Detroit Bridge Authority as it went through the arduous procurement process to build the Gordie Howe International Bridge.

Meritage Hospitality Group Inc. CEO Robert Schermer, Jr. has led the company as it has amassed a portfolio of about 400 Wendy’s restaurant locations and grown its revenue to nearly half a billion dollars.

Jeff Helminski, co-founder and managing partner of Auxo Investment Partners in Grand Rapids, successfully leveraged his atypical experience and path into the world of private equity in multiple deals last year. 

Diversity, equity and inclusion have been foremost in the minds of people who work in Michigan’s nonprofit and philanthropic sectors.

After 10 years as an annual event, ArtPrize switched to a biennial model for the first time this year with the debut of Project 1, a city-wide series of events and exhibitions from a handful of artists. The move marked a dramatic shift from the ArtPrize competition, which involves hundreds of artists.

This is the growth report for Oct. 12.

WYOMING — Gordon Food Service Inc. hopes to expand into Indiana with a proposed new distribution center. 

ADA — Software development firm Michigan Software Labs LLC expects to nearly double its headcount as part of an expansion at the company’s Ada location. 

HOLLAND TOWNSHIP — A trio of industrial companies are planning expansions on the lakeshore in Holland Charter Township. 

ZEELAND — Office furniture manufacturer Herman Miller Inc. plans to increase its ownership stake in Denmark-based Hay A/S by an additional 34 percent. 

WALKER — Flexco Grand Rapids, a manufacturer of conveyor maintenance equipment, is relocating its Michigan operations to the WalkerView Industrial Park. 

Retail sales across Michigan picked up in August from the prior month, although a monthly index shows activity lagging from a year earlier.

GRAND RAPIDS — Those studying whether Grand Rapids needs another convention hotel hope to gather enough data that the Grand Rapids-Kent County Convention/Arena Authority can make a decision by year’s end whether to move forward on the project.