Breaking News

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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

Netech Corp., a family-owned business founded 19 years ago by James Engen in Grand Rapids, has signed a definitive agreement to be acquired by Presidio Inc. of New York City.

Byron Center-based SpartanNash Co. (Nasdaq: SPTN) announced today it will become the primary wholesaler for western Wisconsin grocery chain Gordy’s Market.

Backed with a $5 million capital injection, Community Shores Bank Corp. has emerged from an era of increased regulatory oversight.

JW Millwork distributes molding products domestically and internationally from its facility in Wyoming. The company also maintains facilities in Kansas City, Houston, Connecticut and South Carolina.

A Pennsylvania provider of rehabilitation and long-term care still wants to enter the Michigan market after pulling out of the potential acquisition of the former Southwest Regional Rehabilitation Center facility in Battle Creek.

Precision Aerospace Corp. has acquired the assets of Comstock Park-based CNC Precision Machining LLC, according to a statement released today.

Page 111 of 112