Breaking News - MiBiz: West Michigan Business News

Grand Rapids-based office technology dealer Applied Imaging has acquired a Cascade Township office building for its new corporate headquarters.

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In reporting preliminary results for last year, the Kalamazoo-based Stryker (NYSE: SYK) said global sales topped $9.9 billion. Sales grew at a slightly higher rate on the fourth quarter, 6.4 percent, reaching $2.7 billion.

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The hotel’s owner, Chuck Reid, said in a statement that CityVu Bistro will remain open through Valentine’s Day and then close down with plans to convert the space to an events and conference facility opening in March.

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Mill Steel Co. of Grand Rapids purchased certain assets of S&S Steel Services Inc. of Indianapolis, Ind., according to a statement. The deal that closed Jan. 11 helps Mill Steel expand its product portfolio and geographic presence.

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The firm has hired Raymond Steadmon as an associate attorney, who will lead the firm’s expansion in the region. Steadmon is currently in the process of looking for office space.

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The company now expects full-year earnings of $9.50 to $10.10 per diluted share, up from the guidance issued in October 2015 of $9.30 per diluted share.

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MiBiz kicks off the new year with a comprehensive special report on the region’s climate for raising, borrowing and lending growth capital. For local companies looking to expand or acquire, money is flowing as lenders and investors compete for deals. What’s driving the flow of capital and how long will the spigot remain wide open?

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Michigan’s venture capital and angel investment industry is growing up fast, getting more sophisticated and starting to make later-stage investments into companies. Meanwhile, private equity firms continue to operate in a hot acquisition market, and family offices are taking a large presence as well and competing more for deals.

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Here is the MiBiz Growth Report for Jan. 11, 2016.

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There’s little doubt among local executives that commercial lenders are eager to deploy capital to growing businesses. However, that willingness to lend changes when it comes to service-based companies or startup organizations

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Not that it’s ever easy, but business owners have a greater array of options than ever when seeking financing for their companies. From private investor capital to bank debt, businesses with a good track record should have the ability to secure what they need, according to local finance professionals.

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A group of Grand Rapids women who pooled their funds to make a collective charitable donation last year hope to build off the success of their initial event and make more lasting impacts in the community.

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While new bills seek to grow the membership of an agriculture industry council funded by licensing fees from Michigan alcoholic beverage makers, the changes still exclude one key sector and its supply chain from the group

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Dan Bitzer’s ascension to the role of president at First National Bank of Michigan followed a process that directors at the Kalamazoo community bank outlined years earlier.

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An aging population and growing demand for services gave a Muskegon-area senior care provider the opportunity to expand and extend its care model into southern Ottawa County.

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Bartenders at Rockford Brewing Company Inc. have poured more pints of craft beer than expected in the company’s three years of operation. With production at its taproom and brewhouse in Rockford maxed out at 800 barrels of beer annually, co-founder Seth Rivard said the craft brewery will need to look outside of its existing facility to add capacity.

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With state tax changes secured, Switch Communications Group LLC now turns its attention to the decade-long buildout of its $5 billion cloud-based data center in southern Kent County.

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Automotive component suppliers have struggled with customer demands for price reductions on existing business and in conjunction with new contracts since GM began the practice almost 20 years ago.

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Over the last decade, the manufacturer and assembler of panels, benching and other office furniture systems had spread out over four different buildings. When Compatico recently faced the need to expand again, the company weighed purchasing an additional building or moving its operation to a singular, larger facility. Executives ultimately opted for the latter option.

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Spurred on by increased demand for its industrial welding equipment, Wyoming-based RoMan Manufacturing Inc. needed to expand. Luckily, the company had several options at its disposal to fund that growth, according to President and CEO Bob Roth.

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Blackford Capital plans to spend 2016 raising money for a new private equity fund that will seek to build off the success of its first fund and invest in Michigan-based companies.

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Gypsum Supply Co. Inc. of Byron Center has been acquired by Georgia-based Gypsum Management & Supply (GMS), a distributor of specialty interior building products.

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Hanson Logistics Services, a St. Joseph-based provider of temperature-controlled supply chain services, plans a deep frozen warehouse for fruit and vegetable growers and processors in South Haven.

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A mega merger of two West Michigan credit unions has been called off. Instead of joining operations, Lake Michigan Credit Union in Grand Rapids and St. Joseph-based United Federal Credit Union will remain independent entities.

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An annual report by Grand Valley State University provides further data on how widely spending on health care can vary from one market to another — even those within relatively close proximity.

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With developers facing a series of complications in creating a sustainable housing market in downtown Muskegon, city government decided to take the rare move and jump into the business of commercial real estate development.

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Television stations around Michigan and nationwide are considering auctioning off valuable broadcast spectrum for potentially tens of millions of dollars to make room for mobile wireless development.

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The casino’s owners, the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, will increase gaming floor square footage, add a 300-seat buffet and expand entertainment options and staff dining space.

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The JPMorgan Chase Foundation recently awarded Grand Rapids Community College (GRCC) a $45,000 grant to develop the institution’s industrial sewing and logistics programs.

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Dematic, a manufacturer of conveyors systems, will explore the closure of its Grand Rapids manufacturing operations, according to a statement released today.

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