Breaking News

KALAMAZOO — With a dearth of major buildings left to renovate in the downtown Kalamazoo area, developers say new construction will soon be their only option going forward. 

HOLLAND — After losing nearly a quarter of its annual sales because of the struggling oil and gas industry, Hemco Gage Corp. plans to expand its reach by targeting medical device and aerospace manufacturers across the country.

BYRON CENTER — West Michigan could become a hub for innovative waste processing companies in the coming years.

GRAND RAPIDS — The managers of Michigan Accelerator Fund I are seeking to raise up to $5 million from investors to provide further financial backing to portfolio companies.

After a banner year for deal flow, the merger and acquisition market seems to have tempered slightly in 2016.

Gordon Food Service Inc. (GFS) yesterday reached a $1.85 million settlement with the U.S. Department of Labor over discriminatory hiring practices.

Problems with operations in Europe drove Perrigo Co. plc to a loss in the first quarter amid higher sales.

Plastics distributor Total Plastics Inc. of Kalamazoo has acquired Northeast Plastic Supply of Philadelphia.

After reaching full capacity at its Grand Rapids production facility, Kent Quality Foods Inc.plans to invest $35 million into a second plant in Ottawa County’s Jamestown Charter Township.

Spiech Farms LLC will invest more than $1 million into an expansion project at its production facility in Paw Paw.

Gull Lake Marine plans to open a new retail location in Coopersville on May 14.

Another West Michigan craft brewery plans to expand.

Norton Shores-based Horizon Group Properties Inc. announced yesterday the formation of a partnership to build The Outlet Shoppes at Laredo in Laredo, Texas.

Oliver Products Co. yesterday announced that it had acquired New Britain, Pa.-based Mangar Medical Packaging.

Indianapolis-based The XLerate Group has acquired Grand Rapids Auto Auction.

Traverse City-based craft beer bar and restaurant 7 Monks Taproom has unveiled plans for a Grand Rapids location along the growing Michigan Street corridor.

Deerfield, Ill.-based Pregis LLC will invest $17 million in an expansion project for its Eagle Film Extruders Inc. facility in Grand Rapids.

Michigan State University received two major donations totaling $15 million for the forthcoming $88.1 million Grand Rapids Research Center.

Gov. Rick Snyder has approved a package of bills designed to clarify the process for manufacturers filing personal property tax (PPT) exemptions.

South Haven Health System could become a part of Bronson Healthcare Group if the two can agree on a final deal and persuade voters to do the same.

Following a two-year preparation process, Crystal Flash has successfully transitioned to a 100-percent employee-owned company.

Cargill Kitchen Solutions will invest $27 million in a 28,000-square-foot expansion at the company’s egg processing facility in Lake Odessa.

Two Planned Parenthood affiliates, whose operations separately served the state of Michigan, have merged into one entity known as Planned Parenthood of Michigan (PPMI).

St. Louis, Miss.-based Commerce Bank has announced plans to enter Michigan with a Grand Rapids office.

Kewill Inc., a global provider of supply-chain software, is acquiring Holland-based LeanLogistics from Australian-based Brambles Ltd.

Wolverine World Wide Inc. reported declining revenues in the first quarter of its 2016 fiscal year, in line with what the company’s executives predict to be a challenging year.

West Michigan World Trade Week is pleased to announce details of the 31st annual business conference on May 12, 2016.

MPI Research Inc. has named Rob DeWit as its new president.

American Airlines announced that it will begin offering three nonstop daily flights from Lansing’s Capital Region International Airport to Chicago’s O’Hare International Airport.

Fox Brothers Company, a distributor of roofing, siding, windows, doors and other products, has been acquired by Virginia-based Beacon Roofing Supply Inc.

Neogen Corp. has acquired Nevada-based Preserve International and Tetradyne LLC, a manufacturer of cleaners and disinfectants for the livestock and food processing industries.

The partners in a newly proposed grocery store in downtown Grand Rapids cite the growing number of residents and workers in the Heartside neighborhood as a sign that the city needs more food options.

Stryker Corp. bought U.K.-based orthopaedic implant firm Stanmore Implants Worldwide Ltd. from SIW Holdings Ltd. for 35.6 million euros.

Macatawa Bank Corp. maintained strong earnings and lending growth in the first quarter.

Here is the MiBiz Growth Report for May 2, 2016.

  • M&A: Brad Davis and Lynne Bosgraaf, both formerly executive team members at Grand Haven-based Light Corp., have acquired Ram Electronics Inc., a manufacturer in Fruitport of printed circuit boards, custom wire harnesses and other components. The deal came about as Ram’s previous owner, Don Neidlinger, looked to retire. Zeeland-based Rua Associates LLC advised Davis and Bosgraaf on the deal, the terms of which were not disclosed. The executives partnered with Mercantile Bank Corp. to structure a loan through the Michigan Economic Development Corp.’s collateral support program. The program provides collateral to fund down payments on expansions or mergers and acquisitions.
  • M&A: Lansing-based Neogen Corp., a manufacturer of food and animal safety products, acquired Brazil-based Deoxi Biotecnologia Ltda, an operator of an animal genomics laboratory, according to a statement. Terms of the deal were not disclosed. Deoxi’s management and staff will remain with the company.

BIG RAPIDS — Manufacturers often find themselves at an impasse when it comes to sourcing qualified welding talent. 

The $46.1 million Bronson Healthy Living Campus sprung from a need to create more room for Kalamazoo Valley Community College’s health programs.

GRAND RAPIDS — The formation of a new support system to foster entrepreneurship in West Michigan severs what had been a direct link between higher education and the venture capital community. 

The number of entrepreneur-themed programs developed for non-business students continues to grow across West Michigan liberal arts schools.

When it comes to communicating with donors, Marcie Hillary stresses the importance of simply staying silent.

While the challenge of finding talent makes headlines in the manufacturing and high-tech industries, similar struggles in West Michigan’s agricultural sector have the potential to hit even closer to home: the dinner table. 

Venture capital firms in Michigan do better than their counterparts nationally, but women and minorities still account for a small number of investment professionals who work in the industry and the entrepreneurs it supports.

When Mike Price and his colleagues formed Mercantile Bank Corp. nearly 20 years, they faced a vastly different landscape versus what exists today.

With a decades-long background as a real estate appraiser, State Rep. David Maturen believes he’s the right legislator to curb a controversial practice for property tax appeals that drains municipal coffers. 

ALBION — Over the last decade and a half, Team 1 Plastics Inc. avoided expanding its facility until absolutely necessary, choosing instead to maximize every square inch of its shop floor. 

Automakers have witnessed a resurgence in interest for trucks and SUVs as gasoline prices continue to hover around $2 per gallon in many areas of the country. 

ALLEGAN — John Hendrickson assumed command at Perrigo Co. plc as the company faces problems in Europe that will cut into 2016 earnings.

Investments in rail infrastructure eventually will expedite the time it takes for Amtrak passengers to commute from Kalamazoo to Chicago, potentially cutting travel times by a half hour.