Stakeholders looking to redevelop one of West Michigan’s most storied industrial sites and attract high-quality manufacturing jobs have brought on a new partner.
Spurred on by the likes of developers such as Rockford Construction Co. Inc., Ryan Ogle now hopes to make his own mark along the Bridge Street corridor on Grand Rapids’ west side.
Neogen Corp. has acquired Quat-Chem Ltd., a chemical manufacturer of biocidal cleaning and disinfectant products based in the United Kingdom.
Grand Angels has named Tim Parker, a former R&D executive at Bissell Inc., as its new president.
Drug developer Tetra Discovery Partners LLC said it’s closed on $5 million in new venture capital funding.
Detroit-based law firm Honigman Miller Schwartz and Cohn LLP plans to open a Grand Rapids office led by veteran M&A attorney Tracy Larsen.
During this year’s ArtPrize, downtown Grand Rapids was filled with the expected sights — oversized artwork, misused crosswalks, the guy riding a fish bicycle. But there was a surprise greeting visitors who flocked to the eighth-annual event: Food trucks. All over the place. With lines in front of them.
Here is the MiBiz Growth Report for Nov. 28, 2016:
- • M&A: Caledonia-based insurance broker Acrisure LLC has completed the $2.9 billion management-led buyout of private equity firm Genstar Capital. Greg Williams, Acrisure’s co-founder and CEO, and a consortium of minority investors led the buyout of the San Francisco-based Genstar Capital, which three years ago committed $75 million in capital to the company. That investment enabled Acrisure to embark on an aggressive growth and acquisition strategy and become one of the 15 largest insurance brokers in the nation. Since mid-2013, Acrisure has acquired 138 independent insurance agencies across the nation, establishing a presence in 26 states and growing revenues from $38 million to more than $670 million in 2016. Acrisure closed on nearly 50 acquisitions so far this year and will likely end 2016 with 60 deals, Williams said.
West Michigan’s commercial real estate industry is capping off a banner year for 2016. Developers, architects and contractors have all reported success across multiple sectors, including retail, industrial and health care. And while some divisions have started to emerge about just how strong all those sectors truly are, executives across the region agree the boom in apartment development — and the corresponding need for design and construction for those projects — is real and makes for significant business opportunity. In separate interviews, MiBiz spoke with three industry stakeholders to get their take on where one segment in particular — the multifamily market — stands and where it’s going.
WEST MICHIGAN — 2016 has featured a flurry of commercial real estate news, in a year that’s been defined by dwindling vacancies for developers and rising costs for end users.
Despite political uncertainty and fears of an impending economic slowdown, commercial real estate and construction stakeholders have faith in the fundamentals of the industry in West Michigan.
GRAND RAPIDS — Randy Rua left NuVescor Group LLC seven years ago to break out on his own and launch an M&A firm that focused on working with small business owners.
Mike Jandernoa leaves the board at Perrigo Co. plc next spring and in the process ends a link to the company’s past when it was a far smaller producer of medications in rural Allegan.
GRAND RAPIDS — Grand Valley State University seeks to raise $10 million through a capital campaign to coincide with the construction of a $37.5 million academic center along the Medical Mile.
Fifth Third Bank’s $30 billion corporate commitment over the next four years for community development offers a massive pool of money for West Michigan organizations to potentially tap to fund projects and initiatives.
HOLLAND — The impact of Kandu Inc.’s closure last year could have been far worse for adults with disabilities in Ottawa County were it not for the opening in October of the Hope Network Development Center.
KALAMAZOO — When Folia Water Inc. sought to partner with a paper manufacturer to advance its water filtration technology from the initial proof of concept phase, the company faced a dilemma.
GRAND RAPIDS — When hackers shut down popular websites including Twitter and Spotify in October, they enlisted myriad devices, ranging from coffee makers and appliances to webcams, to carry out the attack.
LANSING — The Michigan Economic Development Corp. could expand its toolbox of incentives under a proposed payroll tax abatement program.
KALAMAZOO — Southwest Michigan’s legacy in the life sciences industry and the area’s strong talent pool led accuFD Inc. to set up shop in Kalamazoo.
EAST LANSING — A new venture capital firm formed by Michigan State University’s research foundation targets a critical need for early-stage capital for startups in the state.
After one of the largest political upsets in recent history, West Michigan automotive suppliers have started assessing how a Donald Trump presidency could affect their industry.
LANSING — Sweeping energy policy reform that has taken nearly two years to move through the state Legislature could face a contentious debate during the remaining days of the post-election lame duck session.
Riverside, Mo.-based NorthPoint Development sees opportunity in former automotive manufacturing sites around the state’s capitol.
Insurance broker Acrisure LLC of Caledonia has completed the $2.9 billion management-led buyout of private equity firm Genstar Capital.