Breaking News

Grand Rapids-based Windquest Group Inc., the family office for Amway scion Dick DeVos and his wife, Betsy DeVos, that invests in a portfolio of companies, is getting into the booze-making business, MiBiz has learned.

This past week, both the City of Holland and Holland Charter Township reviewed and unanimously approved the region’s plans to create a SmartZone district aimed at creating and growing technology-based companies and furthering entrepreneurial support.

Franklin Partners LLC, a Naperville, Ill.-based property investment firm with two other central business district office holdings, has entered into a contract with the option to acquire the Keeler Building at 56 North Division Ave., MiBiz has learned.

Grand Rapids-based sports bar and Italian restaurant chain Uccello’s Inc. plans to open a Kalamazoo location at 4400 Stadium Dr., according to a statement.

After outgrowing its current production space, Founders Brewing Co. plans to add a second brewery in Grand Rapids.

Mercantile Bank Corp. recorded strong earnings growth for 2015, the first full year of results following the merger with the former Firstbank Corp.

The Western Michigan University Homer Stryker M.D. School of Medicine completed the acquisition of the Southwest Michigan Innovation Center on Jan. 1. The medical school plans to use the Innovation Center to expand its research work.

The joint venture known as G.O. Construction, consisting of Grand Rapids-based Owen-Ames-Kimball Co. (O-A-K) and Holland-based GDK Construction Co., has completed $42.8 million worth of construction projects for Hope College in Holland.

Less than two years after launching in Grand Rapids, ELK Brewing LLC now plans to open a second microbrewery and restaurant in Plainfield Charter Township’s Comstock Park district, MiBiz has learned.

The report notes that the Grand Rapids-Wyoming Metropolitan Statistical Area (MSA) “continues to exhibit some of the strongest economic and multifamily fundamentals of any metro in the entire country.”

A new clinical network that formed last year between six Michigan health systems named Dr. William Mayer, an executive at Bronson Healthcare in Kalamazoo, as president and CEO.

The Grand Haven health system’s sale of North Ottawa Home Care Equipment was effective Jan. 1. CareLinc, which now has 20 locations in Michigan, retained the Grand Haven retail location, filling in a gap to its footprint in the lakeshore market where the company also has stores in Holland and Ludington.

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

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.

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.

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.

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.

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.

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?

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.

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

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

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.

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.

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

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.

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.

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.

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.

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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