Breaking News

KALAMAZOO — Life sciences startup Innovative Cardiovascular Solutions LLC of Kalamazoo netted $1.4 million so far in a push to raise up to $7 million in Series B capital. 

Employees enrolled in a wellness-based health plan offered by Priority Health cost 12 percent less to insure over a four-year period than those who had standard health coverage.

Manistique-based Mackinac Financial Corp. will extend its footprint in Wisconsin with a planned acquisition of Niagara Bancorporation.

Sun Capital, a Florida-based private equity firm, has acquired convenience store operator Admiral Petroleum Co. and Lemmen Oil Co. in Coopersville

Faced with difficulty in attracting tenants, a Grand Rapids developer will halt plans for a proposed high-amenity office tower in downtown’s Heartside neighborhood and explore other options for the project.

Responsibly managing corporate finances increasingly requires the best financial executives to expand their scope by branching out into other roles. That was one key message this year’s winners in the MiBiz CFO of the Year Awards shared during a best practices panel discussion this week.

Restaurant operator Meritage Hospitality Group Inc. (OTCQX: MHGU) unveiled plans for future growth at its annual shareholder meeting earlier this week.

Kraft Heinz Company has taken the next step in a company-wide consolidation strategy that began in 2015 after Kraft Food Group Inc. merged with H.J. Heinz Company.

Bosch Emissions Systems US will shutter its Kentwood facility by Sept. 30, 2017.

While browsing the automotive news site Just-Auto.com recently, we noticed an interview with Frank O’Brien, the executive vice president of Asia for Magna International Inc. This sparked a moment of nostalgia, since O’Brien was a contact point during the time we did consulting work at Donnelly Corp. in Holland some 25 years ago — well before it became part of Magna.

In an effort to strengthen retail activity in West Michigan, two commercial real estate brokerages have announced a new partnership.

Cloud Access.net LLC, an online hosting and web support company, has been acquired by New York City private equity firm Cloud Equity Group LLC.

International food processor and marketer Tyson Foods, Inc. has contributed $80,000 to the Sack Supper program at Kids’ Food Basket.

Here is the MiBiz Growth Report for May 16, 2016: 

• M&A: Indianapolis-based The XLerate Group, a portfolio company of Detroit-based private equity firm Huron Capital Partners LLC, has acquired Jenison-based Grand Rapids Auto Auction. The deal represents the second acquisition in a year for The XLerate Group, which acquired Schoolcraft-based Greater Kalamazoo Auto Auction in May 2015. XLerate provides dealer-to-dealer auto auctions for used vehicles. Grand Rapids Auto Auction, located at 2380 Port Sheldon Ct., provides used vehicle remarketing to fleet and leasing companies and dealers in Michigan, Illinois and Ohio. Terms of the deal were undisclosed. Through the acquisition, XLerate now has local auto auctions that operate 17 physical and mobile sites in Michigan, South Carolina, California, Texas, Wisconsin and Florida.

After 13 years of operating as the Michigan Alternative Energy Center (MAREC), the 25,000-square-foot facility will be rebranded as the Muskegon Innovation Hub, according to the university.

When Shari Dick joined the Grand Rapids Area Chamber of Commerce in 2014, sales were stagnant, turnover was high and many of the staff members worked in silos.

When Ken Diggs began his role as CFO with Greenleaf Hospitality Group Inc. in 2011, he joined a company amid a series of financial challenges. 

Kraig Harper and other executives at Service Express Inc. began 2015 by seeking an investor to support a buyout of the company and continue to grow the business.

John Genualdi has spent the bulk of his career solving complex financial problems and turning around closely-held family businesses. 

A focus on core principles and strict financial discipline allows Gary Rose to cut through a deluge of data each day as he monitors the performance of more than 160 Wendy’s restaurants. 

After 28 years with Grand Rapids-based construction subcontracting firm Kent Companies Inc., CFO Randy Brink has been through myriad up-and-down cycles. 

Short’s Brewing Co. has added Wisconsin to its growing distribution network for its craft beer and Starcut Ciders brand.

Goodwill Industries of West Michigan plans this summer to open a new 10,000-square-foot Employment and Training Center in Holland.

GRAND RAPIDS — Commerce Bank has moved into West Michigan, seeking to carve out a role in the middle market.

HOLLAND — Macatawa Bank Corp. sits in a far better position today than it did in the recent past.

Zoos and nature centers across West Michigan are constructing new facilities this year thanks to strong support from individual donors and contributions from foundations. 

West Michigan’s business community says it has a vested interest in how well third-graders can read. 

LANSING — A mid-Michigan particle accelerator has taken the next step in an ambitious expansion plan that would position the company to capitalize on the multi-billion dollar market for medical isotopes.

Bronson Healthcare Group’s second FastCare clinic in Southwest Michigan will add to the growing lineup of retail medical centers that offer convenient access to patients seeking treatment for minor conditions.

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