Here is the MiBiz Growth Report for March 20, 2017:
• M&A: Grand Rapids-based fuel distributor Crystal Flash Inc. has expanded its geographic footprint into Southeast Michigan with the acquisition of Adrian-based Lenawee Farm Bureau Oil Cooperative, which has more than 500 customers. Two employees will stay on with Crystal Flash, according to a statement. Terms of the deal, which was finalized this month, were not disclosed. Lenawee County Farm Bureau Oil Cooperative serves agricultural, commercial, construction and home heating oil customers. Grand Rapids-based Charter Capital Partners served as financial adviser to Crystal Flash on the deal. The employee-owned company employs 250 people at 15 locations in Michigan.
HOLLAND — Backed by a new $1 million round of funding, Shoulder Innovations Inc. plans to market its implant technology more aggressively to surgeons and health systems.
LAKETOWN CHARTER TOWNSHIP — Just south of Holland, voters last spring narrowly defeated a local plan to bring high-speed broadband internet service to every residential and commercial building in the township.
Roughly a year ago, Jackson-based Consumers Energy became the first major utility in Michigan to propose a statewide network of electric vehicle charging stations.
KALAMAZOO — As he focuses on preparations for the 2018 Irving S. Gilmore International Keyboard Festival, director Dan Gustin has a lot on his mind.
GRAND RAPIDS — A group of investors hoping to redevelop one of downtown’s last vacant buildings believes energy-efficient infrastructure could serve as one method to achieve greater affordability.
For all the talk of placemaking and city building across Michigan, State Rep. Andy Schor believes something very basic remains missing: local grocery options.
BERRIEN SPRINGS — Two pending mergers with smaller credit unions would extend Honor Credit Union into the Battle Creek and Kalamazoo areas.
MIDLAND — For the third time in two years, Chemical Financial Corp. wants to have more shares on hand to as it pursues additional acquisitions.
Legislation proposed earlier this month in the U.S. Senate could provide a boost to Michigan’s nascent advanced wood products industry.
GRAND RAPIDS — While many companies decry the lack of available talent as a key challenge, one California-based manufacturer cited West Michigan’s workforce as the primary reason it’s moving into the region.
ALBION — A dispute over several large-scale solar energy projects forced a Southwest Michigan solar equipment manufacturer into bankruptcy earlier this month.
GRAND RAPIDS — A lawsuit filed last week alleges a West Michigan real estate firm engaged in racketeering and other fraudulent practices in order to charge higher rents at properties intended for affordable housing.
GRAND RAPIDS — As Grand Valley State University expands its presence in the Belknap Lookout neighborhood, it’s juggling myriad concerns that often come with large-scale development.
GRAND RAPIDS — By creating a $100 million venture capital arm, Spectrum Health joins the ranks of U.S. health systems that invest money in companies developing new ways to treat patients and maintain health.
EXPLORING THE TRIBAL ADVANTAGE: How non-tribal companies can benefit from working with West Michigan tribesWritten by Joe Boomgaard
Because Native American tribes are sovereign nations, they’re tax-exempt and have their own statutes and regulations, although they must follow federal law. Tribally owned firms also are exempt from state and federal income taxes.
Retailer J.C. Penney Company Inc. said today that it would close 138 stores nationwide, including at two malls in West Michigan.
Across West Michigan, Native American tribes have started to hang out their own shingle in enterprises that move them away from the familiar tribal-owned casino.
Aerospace suppliers are turning bullish on military contracts ahead of what many see as a surge in defense spending, despite the sector taking a backseat in recent years to the commercial aircraft industry.
JR Automation Technologies plans to invest $1.9 million in an expansion project that will increase production space at its Stevensville operation.
A Los Angeles-based real estate investment trust (REIT) with a focus on health care facilities has acquired a Battle Creek medical office building.
Spectrum Health has formed a new venture capital fund that could invest up to $100 million into health care-related companies over the next decade, MiBiz has learned.
Bank of America’s planned move to a new regional office in downtown Grand Rapids comes as the bank seeks to grow its West Michigan presence.
Despite a relatively stable outlook for the automotive sector, industry experts have started noticing evidence of “stress fractures” appearing in an otherwise healthy market.
California Closets plans to establish a new manufacturing facility in Grand Rapids in a bid to support customers in the country’s eastern portion.
Mercy Health Saint Mary’s in Grand Rapids, Holland Hospital and Spectrum Health Zeeland Community Hospital rank among the top hospitals in the U.S. for 2017.
Fuel distributor Crystal Flash Inc. has expanded its geographic footprint into Southeast Michigan with a new acquisition, its tenth since 2011.
Patriot Solar Group LLC of Albion on Monday filed Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Western District of Michigan.
Former prime minister of the United Kingdom, David Cameron, will visit Grand Rapids on June 19 to speak at The Economic Club of Grand Rapids 30th Annual Dinner meeting.
A group of investors hopes to redevelop one of downtown Grand Rapids’ last vacant buildings into low-income housing.
Steelcase Inc. has partnered with global tech to capitalize on the growing market for connected devices in the office.
Universal Forest Products Inc. plans to break into the hardwood products with the acquisition of an Indiana-based manufacturer.
Here is the MiBiz Growth Report for March 6, 2017:
• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.
GRAND RAPIDS — Despite the many accolades for West Michigan’s economy in recent years, prosperity hasn’t necessarily reached all people in the broader community to the same extent.
COLDWATER — When Clemens Food Group began searching for a site to house its new 550,000-square-foot pork processing facility, access to wastewater capacity emerged as its top requirement.
JACKSON — Indian Brook Trout Farm Inc. plans to leverage $150,000 it received through a state grant to win vital contracts with national grocery retailers.
GRAND RAPIDS — Backed with capital from a Chicago private equity firm, Grand Rapids Ophthalmology PC plans to expand across Michigan and eventually into neighboring states.
EAST LANSING — Early-stage investment fund Quantum Medical Concepts plans to invest larger amounts in health care startups after spinning off from its founding organization and securing an additional investment partner.