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MiBiz Growth Report: Aug. 8, 2016

BY MiBiz Staff Sunday, August 07, 2016 01:45pm

Here is the MiBiz Growth Report for Aug. 8, 2016. 

• M&A: Grand Rapids-based architecture firm Progressive AE Inc. has acquired Charlotte, N.C.-based AI Design Group Inc., according to a statement. The new company will be headquartered in Grand Rapids and leadership will remain the same, according to a statement. AI Design will now be referred to as a Progressive AE company. Terms of the deal were not disclosed. 

• M&A: Grand Rapids Metrology Inc. acquired the Michigan operations of Kanawha Scales and Systems of Poca, West Virginia. According to a statement, the deal included Kanawha’s locations in Clio and Taylor. Ten employees will join Grand Rapids Metrology, which operates facilities in Grand Rapids, Romulus, Bay City, Benton Harbor and Battle Creek. Terms of the deal were not disclosed. Grand Rapids Metrology is a provider of measurement products and services that’s been in operation since 1922 when it initially sold wagon scales. The company serves a range of industries, including manufacturing, agriculture, pharmaceutical, food and beverage, automotive, medical and aerospace, among others. 

• M&A: Ranir LLC, a Grand Rapids-based producer of store-brand and oral-care products, acquired the Rembrandt teeth-whitening brand from Johnson & Johnson Consumer Inc., according to a statement. The acquisition adds to Ranir’s product portfolio. The company plans to leverage its existing retail relationships to position the Rembrandt brand to fill a gap in value-oriented oral care products, according to President and CEO Rich Sorota. Terms of the deal, which includes all intellectual property and rights to the Rembrandt brand, were not disclosed. 

• M&A: Grand Rapids-based Great Lakes Fasteners Corp. has been acquired by All Integrated Solutions, a Wisconsin-based distributor of fasteners and components. Founded in 1937, Great Lakes Fasteners distributes fasteners and industrial components, as well as offers inventory management services to original equipment manufacturers. The deal will add to All Integrated Solutions’ capabilities and expand its service and product offerings in the Michigan market, according to a statement. High Road Capital Partners, a New York-based private equity firm, is the parent company of All Integrated Solutions. Terms of the deal were not disclosed.

• M&A: U.S. LBM Holdings LLC has acquired Muskegon-based Keene Lumber Co., a distributor of residential and commercial building materials including decking, roofing and other components. Keene will become a division of U.S. LBM’s subsidiary, Grand Rapids-based Standard Supply & Lumber, according to a statement. Keene Lumber was established in 1935 in Muskegon. Terms of the deal were not disclosed.

• M&A: Grand Rapids-based Aftermarket Telematics Technologies LLC, a software developer for automotive aftermarket products, has been acquired by Innova Electronics Corp. of Irvine, Calif., according to a statement. Aftermarket Telematics created its Vehimatics program to provide vehicle data to owners, service centers and other stakeholders. Innova Electronics manufactures scanning tools, multimeters and other automotive diagnostic equipment. Terms of the transaction were not disclosed.

• M&A: Midwest Amusement Co. of Jackson has been acquired by Cincinnati-based Pioneer Vending, according to a statement. A vendor of amusement equipment including dart boards and pool tables, Pioneer Vending acquired Midwest as part of a strategy to expand its market presence in Michigan, according to a statement. The company first entered Michigan in 2012 with the acquisition of Coin Op Services of Adrian. Terms of the deal were not disclosed.

• Expansion: Stikwood of Sacramento will invest $4.2 million to create a projected 73 jobs over three years by locating a manufacturing facility at 4849 Barden Ct. in Kentwood, according to a statement. Founded in 2012, the company manufacturers “Peel & Stik” wood planking from reclaimed and sustainable sources. The expansion will allow Stikwood to increase production of the product, as well as produce a new line that’s under development, according to the company. To support the project, the Michigan Strategic Fund approved a $400,000 performance-based grant. Stikwood considered sites in Utah, Texas and Tennessee, according to Therese Thill, vice president of business development at The Right Place Inc., who noted the process of attracting the company to the region was “extremely competitive.”

• Expansion: Advanced Packaging Corp. invested $8 million in a 75,000-square-foot expansion to coincide with the company’s 50th anniversary, according to a statement. The manufacturer of corrugated products also plans to invest an additional $8 million into its operation in 2017. The company currently employs 252 workers at its Grand Rapids facility and plans to hire an additional 50 workers as a result of the expansion. Grand Rapids-based Wolverine Building Group served as the general contractor on the project.

Read 2091 times Last modified on Sunday, 07 August 2016 14:01
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