BUFFALO, N.Y. — A subsidiary of Gordon Food Service Inc. could have to repay approximately $180,000 in tax breaks it received from a county in western New York.
MUSKEGON — KL Outdoor LLC plans to establish a new global headquarters for its operations in downtown Muskegon.
CALEDONIA — Acrisure LLC remained the largest buyer of insurance brokers across North America in the first half of 2017.
The owner of two Southwest Michigan hotels who was sentenced to prison for lying to investigators about violations to the federal minimum wage law has agreed to repay money owed to his employees.
The Grand Rapids City Commission adopted a measure aimed at easing the process for property owners to make energy efficiency upgrades.
Venture capital fund Grand Ventures I LP was part of a $5 million funding round for an Indiana tech firm.
Rodney Martin has seen a great deal ofprogress in Grand Rapids becoming a more diverse and inclusive community over the last three decades.
• M&A: Three Rivers-based Armstrong International Inc., a fifth-generation family-owned manufacturer of energy management products, has acquired Delta2 s.r.l. of Milano, Italy, according to a statement. Delta2 makes control valves and pneumatic operators for the oil and gas, food, pharmaceutical, power and industrial markets.
Fox Motors Group LLC has entered the mid-Michigan market with its acquisition of Ann Arbor Automotive Inc.
The company behind a popular West Michigan snack brand must pay up after it failed to chip away at its debts to a key supplier.
Vision Real Estate Investment Inc. said this week that it plans to build a new 40,000-square-foot medical office building in southwestern Kent County.
GRAND RAPIDS — Alliance Beverage Distributing LLC plans to expand into the northern Lower Peninsula by acquiring another wholesaler’s beer distribution rights, MiBiz has learned.
HOLLAND — A West Michigan firm that invests in medical device companies has completed a capital raise of more than $1.1 million.
GRAND RAPIDS — Horizon Bank’s move into the West Michigan market provided an opportunity to launch a private banking service based in Grand Rapids that will eventually extend across the corporation.
GRAND RAPIDS — A growing manufacturer of high-tech food carts could serve as an example of the kind of business development that’s possible in West Michigan.
GRAND RAPIDS — In a move to build a broader talent pool for future candidates, Mary Free Bed Rehabilitation Hospital began a medical residency program this summer to help groom new doctors specializing in treating patients with traumatic injuries.
Spurred on by the dearth of available manufacturing space across West Michigan, developers have started to add inventory in the region by building or expanding industrial parks.
A balancing act: Automotive suppliers in West Michigan brace for cyclical changes, emergence of new techWritten by John Wiegand
ACME — A decade into the economic recovery, West Michigan-based automotive suppliers are having to look ahead and prepare for a period of declining new vehicle sales.
GRAND RAPIDS — While the automotive sector may be nearing the end of a strong sales cycle, West Michigan-based suppliers remain bullish on the industry.
As the pace of technological change intensifies for the automotive industry, suppliers are turning to acquisitions to reshuffle their businesses and prepare for the road ahead.
WALKER — Amid intense competition in the retail grocery sector, Meijer Inc. will trim and restructure its information technology services (ITS) staff in the coming months, MiBiz has learned.
West Michigan-based agribusinesses and food and beverage companies will soon have a new source of capital to fund expansion projects.
The number of venture capital-backed startup companies based in West Michigan grew 20 percent over the last three years.
West Michigan food retailer SpartanNash has appointed Mark Shamber to the position of CFO and executive vice president following the sudden departure of its previous CFO in June.
Matt Michiels has known for the last two years that he needed to expand his growing West Michigan craft brewery.
With strong cash flow in the first half of the year and backed by a positive outlook for the rest of 2017, executives at Wolverine World Wide Inc. are getting aggressive in pursuing new growth opportunities.
Kent County government will vote later this month on whether to recommend expanding two county-owned parks by a total of 153 acres.
Municipalities and Land Bank Authorities across the state — including several in West Michigan — have received more than $3.6 million from the Michigan State Housing Development Authority (MSHDA) to combat blight.
A West Michigan-based independent third-party administrator of employee benefits has sold to a Wisconsin firm.
Perrigo Co. plc shares moved up early today prior to the opening of the market after it reported a smaller quarterly loss and raised earnings expectations for 2017.
A West Michigan manufacturer of radio frequency identification components will invest $4.3 million in expanding its downtown Grand Rapids facility.
Lake Michigan Credit Union plans to grow its Florida presence with a deal to buy a community bank.
After more than a year of behind-the-scenes work, the developers of the proposed $140 million mixed-use movie theater project south of Van Andel Arena plan to step back into the spotlight this week.
Here is the MiBiz Growth Report for Aug. 7, 2017.
• M&A: Rockford-based Wolverine World Wide Inc. has sold its Sebago brand of boat shoes to an offshoot of BasicNet S.p.A., a clothing and footwear company based in Turin, Italy. A subsidiary, TOS S.r.l., acquired the intellectual property rights for the Sebago trademarks and other assets in a deal valued at $14.25 million, excluding acquisition-related charges, according to a statement from BasicNet. For Wolverine, the move to offload the Sebago brand comes as part of a larger strategy that executives hope will streamline the organization and increase profitability amid a challenging consumer goods market. The two companies agreed to transition the brand to the new owner through the end of this year. Wolverine (NYSE: WWW) acquired Sebago Inc., a maker of penny loafers and docksiders boat shoes, in 2003.
The U.S. Small Business Administration’s largest lending program wrote slightly more loans in Michigan through three quarters of the federal government’s fiscal year, although the value declined. Through June 30, the SBA backed 1,867 loans for $411.2 million in Michigan written under the 7(a) program, which compares to 1,847 loans for $500.8 million through the same period in the 2016 fiscal year.
Loans written under the SBA’s 504 lending program grew from year to year. Michigan had 160 loans for $115.3 million under the 504 program through June 30 of the current fiscal year, versus 127 loans for $83.8 million in the first three quarters of the 2016 fiscal year.
Here are 7(a) and 504 loan volumes in the state as of June 30, plus the top 20 banks and top 10 credit unions for 7(a) loans in Michigan.
Higher interest rates during 2017 haven’t acted as a damper on commercial lending in West Michigan, although some lenders are seeing borrowers moving to fixed-rate business loans.
Among the commercial and industrial borrowers at Lake Michigan Credit Union, about one-third are expanding or buying new equipment that’s needed to grow their businesses.