Here is the MiBiz Growth Report for May 2, 2016.
- M&A: Brad Davis and Lynne Bosgraaf, both formerly executive team members at Grand Haven-based Light Corp., have acquired Ram Electronics Inc., a manufacturer in Fruitport of printed circuit boards, custom wire harnesses and other components. The deal came about as Ram’s previous owner, Don Neidlinger, looked to retire. Zeeland-based Rua Associates LLC advised Davis and Bosgraaf on the deal, the terms of which were not disclosed. The executives partnered with Mercantile Bank Corp. to structure a loan through the Michigan Economic Development Corp.’s collateral support program. The program provides collateral to fund down payments on expansions or mergers and acquisitions.
- M&A: Lansing-based Neogen Corp., a manufacturer of food and animal safety products, acquired Brazil-based Deoxi Biotecnologia Ltda, an operator of an animal genomics laboratory, according to a statement. Terms of the deal were not disclosed. Deoxi’s management and staff will remain with the company.
- M&A: Grandville-based I.T. firm Trivalent Group Inc. has acquired fellow I.T. provider KI Technology Group of East Lansing, according to a statement. Terms of the deal were not disclosed. Trivalent executives said the deal is aimed at bolstering the group’s statewide presence, particularly in areas of providing managed services and cloud hosting. Trivalent Group employs more than 80 full-time workers and has offices in Grandville, Battle Creek, Mt. Pleasant, Traverse City and East Lansing.
- M&A: Grand Rapids-based office furniture supplier Knape & Vogt Manufacturing Co. has acquired Toronto-based International Source for Ergonomics (ISE) under its Workrite business unit. The deal comes as Knape & Vogt looks to expand its customer base and dealer distribution network, according to a statement. ISE manufactures ergonomic office equipment such as keyboard platforms, computer monitor supports and other components. Executives expect integration to occur immediately. Terms of the deal were not disclosed. Knape & Vogt is a portfolio company of Wind Point Partners, a Chicago-based private equity firm.
- M&A: Great Lakes Coca-Cola Distribution LLC of Rosemont, Ill. has acquired the Coca-Cola production and bottling facility in Grand Rapids. The deal for the operation, located at 1440 Butterworth St., is one of six simultaneous acquisitions by Great Lakes Coca-Cola for locations in Detroit and Milwaukee and in Illinois and Minnesota, according to a statement.
- M&A: Acoustics By Design Inc., a Grand Rapids-based acoustical consulting and design firm, has merged with Daly-Standlee & Associates Inc., a Beaverton, Ore.-based consulting and engineering firm. The merger, effective April 1, helps the two firms to have a broader range of services for their clients, and allows Acoustics By Design to have a stronger West Coast presence. Over the next few months, the two firms will undergo an integration process, and they plan to unveil a common name in July, Acoustics By Design President Kenric Van Wyk told MiBiz. The move comes amid a period of consolidation in the acoustical consulting and design industry, in which a number of larger firms have purchased smaller competitors.
- Investment: Kalamazoo-based Native Traits Corp. raised nearly $825,000 toward a $1.25 million offering as of April 4, according to filings with federal securities regulators. The firm plans to use a recent investment to move its cold weather- and drought-resistant seed technology from the research phase into developing new markets. President and CEO Dr. James Friedrich told MiBiz the investment was “a pretty serious step forward” for the company. Native Traits plans to license its technology to seed firms. The investment was led by Traverse City-based Northern Michigan Angels and Western Michigan University’s Biosciences Research and Commercialization Center (BRCC). The board at Native Traits also approved a subsequent $1.5 million Series B round of funding, which is set to begin in summer 2016, Friedrich said.