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MiBiz Growth Report: Oct. 17, 2016

BY MiBiz Staff Sunday, October 16, 2016 07:27pm

• M&A: Grand Rapids-based Ranir LLC, a manufacturer of a variety of oral care products, has acquired Toronto-based BrushPoint, a maker of toothbrushes. In the deal, for which terms were not disclosed, Ranir will increase its product offerings and distribution footprint in the U.S., Canada and Europe. The BrushPoint acquisition comes on the heels of a deal in July of this year in which Ranir purchased the Rembrandt teeth-whitening brand from Johnson & Johnson Consumer Inc. Last month, the company also said it had purchased the 200,000-square-foot facility at 4701 East Paris Ave. SE where it had been a tenant for 20 years.

• M&A: The second generation of the Walcott and Laning families has acquired a 50-percent stake in Premier Freight Management Corp. of Holland. Jonathan Laning and Kyle Walcott purchased the shares from Mark Laning, who retired from the company, and each owns 25 percent of the shares in the shipping, logistics and warehousing company, according to a statement. Terms of the deal, which closed Oct. 1, were not disclosed. Co-founder and CEO Doug Walcott plans to stay on with the company “for the foreseeable future.” The company also recently signed a long-term lease for a 75,000-square-foot warehouse at Holland’s Federal Square Business Park.

• M&A: Walker-based Custom Profile Inc. has acquired the plastic extrusion business from Wisconsin-based Bemis Manufacturing Co. The tuck-in acquisition by Custom Profile, which is owned by Grand Rapids-based Blackford Capital, will help the manufacturer penetrate further into the health care and automotive markets. The company primarily serves the office furniture, appliance and recreational vehicle industries. The deal is expected to close later this month, according to the statement. Terms of the deal were not disclosed.

• M&A: DP Fox Ventures LLC, the family office of Dan and Pamella DeVos, has acquired the Edge Ice Arena in Holland. Dan DeVos, majority owner of the Grand Rapids Griffins American Hockey League team, purchased the 100,000-square-foot ice arena at 4444 Holland Ave. for an undisclosed price under the entity DV Hockey LLC, according to a statement. DP Fox Sports & Entertainment LLC, which operates Griff’s Icehouse at Belknap Park in Grand Rapids, will manage the Edge Ice Arena.

• Expansion: Kentwood-based IP Consulting Inc. will invest nearly $700,000 to purchase new computers, I.T. equipment, furniture and other facility upgrades, according to a statement. The I.T. firm specializing in cybersecurity, network infrastructure and other services expects to create 25 new jobs as a result of the investment. The Right Place Inc., a Grand Rapids-based economic development firm, assisted IP Consulting in securing a $180,000 performance-based grant from the Michigan Economic Development Corp. 

• Expansion: Impact Label Corp. has relocated from Kalamazoo to a 32,500-square-foot facility at 8875 Krum Ave. in Galesburg as part of a two-year, $3 million growth investment, according to a statement. The company offers product identification solutions for companies in the outdoor recreation, medical and automotive industries. Impact Label’s new site will allow the company to implement more efficient lean manufacturing practices, as well as hire more people.

• Expansion: Royal Technologies Corp. will invest $33.7 million to construct a new facility in Jamestown Charter Township. The company manufactures plastic injection components for the office furniture, automotive and consumer products industries. Royal Technologies plans to create 66 jobs with the expansion, which received a $400,000 performance-based grant from the Michigan Economic Development Corp., according to a statement. Jamestown Charter Township also granted the company a property tax abatement.

• Expansion: Metal Mechanics Inc. will add seven jobs as part of a $1.25 million investment in Schoolcraft, according to a statement. The company plans to build a 30,000-square-foot building to house its operations as part of the investment. The facility will position the company for growth. Metal Mechanics received $80,000 in brownfield tax increment financing to support the project, which will rise on the site of a former lumber treating facility. The village of Schoolcraft also approved a 12-year industrial facilities tax abatement. The company makes trim presses for the metal casting industry.

• Expansion: Kalamazoo Sanitary Supply Inc. (KSS Enterprises), a facility and equipment supply company, completed an 11-month, 30,000-square-foot expansion of its headquarters at 5053 Sports Dr. on the south side of Kalamazoo. The new headquarters will be home to sales and administrative offices, storage and training facilities and a retail showroom. 

• Expansion: Tigmaster Co., a Baroda-based provider of laser cutting, water jet, welding and other services, plans to invest nearly $200,000 into a facility expansion project. The 5,600-square-foot addition will add needed capacity to the company’s production facility located at 9283 1st Street, according to a statement. The village of Baroda approved a 12-year tax abatement to assist the project, which is expected to be completed in six months.

• Expansion: Months after initiating a deal with Windquest Group, the family investment office for Dick and Betsy DeVos, Holland-based Coppercraft Distillery LLC has expanded with a tasting room in Saugatuck. The second location at 435 Water St. initially will open four days per week, Thursday through Sunday. Opening a tasting room in Saugatuck will allow the craft distillery to tap into the tourist traffic and locals in the market, according to a statement. Coppercraft worked with custom woodworking shop Cento Anni of Holland and Hudsonville-based Premier Metal Products for the interior furnishings at the new tasting room. 

Read 1734 times Last modified on Sunday, 16 October 2016 22:17
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