Here is the MiBiz Growth Report for April 25, 2021.
- Grand Rapids-based investment banking firm Charter Capital Partners served as the exclusive M&A adviser to Littleton, Mass.-based Optical Phusion Inc. in its sale to Sole Source Capital LLC, a Santa Monica, Calif.-based private equity firm. OPI is a self-service kiosk, enterprise mobility and wireless technology integration solutions company. Sole Source Capital simultaneously acquired Peak-Ryzex Inc., a Columbia, Md.-based reseller of barcoding and data collection solutions, and merged it with OPI, according to a statement. Terms of the deal were not disclosed.
- Turn Key Installation LLC, a Grandville-based contracting company that specializes in conveyor systems, made a recent strategic acquisition by purchasing another West Michigan business. The company, founded by Bradlee Hager and Matt Chayer in 2011, recently closed on the purchase of J&J Electrical Services Inc., which is located in Muskegon and has eight employees. J&J Electrical Services is an electrical contractor that works with residential, commercial and industrial clients. By acquiring J&J Electrical Services, Turn Key Installation, headquartered at 3056 Dixie Ave. SW, will be able to provide more nuanced project management services for its clients while also expanding its client base.
- Grand Rapids-based RedWater Collection has entered into a purchase agreement to acquire its eighth golf course in West Michigan. RedWater, which operates a portfolio of restaurants, event spaces and golf courses throughout West Michigan, plans to purchase the Muskegon Country Club, which was founded in 1908 and is located at 2801 Lakeshore Drive. RedWater is buying the country club from 11-member investor group MCC Partners LLC.
- The owners of Wyoming-based Garage Bar & Grill are selling the bar to the owners of India Town, an adjacent restaurant along South Division Avenue. India Town owners Manjit and Tony Multani, via Manny’s Bar & Grill LLC, are buying the bar from an affiliated entity of Grand Rapids-based Third Coast Development LLC and told MiBiz they are not planning to change the business.
- The largest power sweeping company in the United States recently expanded its footprint with the acquisition to two West Michigan companies. Cleveland-based Sweeping Corporation of American (SCA) announced that it has bought Kalamazoo-based Superior Sweeping Services Inc. and Rockford-based West Michigan Sweepers (WMS). At the end of 2020, SCA also purchased Detroit-based C&J Parking Lot Sweeping. The recent flurry of acquisitions makes SCA the largest sweeping provider in Michigan.
- A Boston private equity firm has acquired Traverse City-based High Street Insurance Partners Inc., an insurance brokerage platform company formed in 2018 that has since acquired two-dozen agencies across the U.S. Abry Partners LLC, which manages $5 billion in capital across its active funds, announced the High Street Partners acquisition from Huron Capital Partners LLC. Terms of the deal were undisclosed. Detroit-based Huron Capital Partners formed High Street Partners three years ago.
- B2B Industrial Packaging has acquired Kalamazoo-based Fibers of Kalamazoo, marking the 14th major acquisition for the Addison, Ill.-based company, which provides a wide range of packaging equipment and supplies for its 6,000 active clients. Fibers of Kalamazoo, which specializes in packaging, janitorial and safety products, has been in business for 35 years.
- Automotive supplier Magna Cosma Casting is planning to invest $31.9 million into an expansion of its facility in the Fort Custer Industrial Park in Battle Creek. Owned by Canadian Tier 1 automotive supplier Magna International Inc., Cosma is planning a roughly 50,000-square-foot expansion to its facility for additional manufacturing space. Cosma, which specializes in high-pressure aluminum castings to create lighter weight vehicles, expects to hire 68 new employees over the next three years.
- Grandville-based Grand River Bank recently opened a new office at 50 Crahen Ave. NW in Grand Rapids Township. The new office adds to the bank’s growing presence in the Ada/Cascade area and houses retail bankers, commercial and mortgage lenders, operations personnel, and administrative staff. Cascade-based BDR Inc. developed the office.
- A Pennsylvania-based civil engineering firm that specializes in the design, inspection and rehabilitation of bridges is opening an office in Grand Rapids. Modjeski and Masters Inc. — which also offers bridge maintenance, research and code development — was established more than 125 years ago and is headquartered in Mechanicsburg, Pa. Modjeski and Masters recently hired Laura Rampersad as regional director of the firm’s new Grand Rapids office, where she manages operations across the state and surrounding region.
- MWS Wholesale Auto Outlet in Grand Rapids is expanding operations just north of its current location after acquiring property that houses Al’s Trailer Mart. MWS Wholesale owner Chris Wawee closed on the seven properties along Leonard Street and White Avenue on Grand Rapids’ west side that make up Al’s Trailer Mart, which has been in business for the last 70 years. Wawee purchased the properties from Al’s owner Kenneth Kruh for a total of $495,000. In addition to keeping the existing building on the property, Wawee said he plans to add a used car lot to the site while continuing to sell trailers at the location.
- The Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, or Gun Lake Tribe, will add a hotel and resort amenities as part of a $300 million expansion planned at its Gun Lake Casino. The project, which will be the largest expansion yet for the casino, will add 250,000 square feet to extend the property west toward US-131. New additions to Gun Lake Casino will include a 250-room hotel with luxury suites, a full-service spa and a restaurant. The expansion also includes a fully enclosed glass domed pool and nightlife entertainment space.
- Colorado-based manufacturer Woodward Inc., which specializes in designing, manufacturing and servicing control systems for the aerospace industry, plans to expand its operations in Zeeland. The company operates a campus located at 700 N. Centennial St. in Zeeland, currently designated as Woodward’s home for combustion testing. Woodward plans to use the site to expand its efforts in additive manufacturing, which is an alternative to machining and casting metal parts.
- Spectrum Health named Kelly Dyer as president of the Spectrum Health and Helen DeVos Children’s Hospital foundations. Dyer, with 17 years of experience in philanthropy that includes major gift fundraising and strategic planning, will succeed foundation President Vicki Weaver in late May. Weaver retires at the end of April after 28 years with Spectrum Health. Dyer will join Spectrum Health from the University of Michigan’s Office of University Development, where she serves as senior executive director of leadership and major gifts.
- Spectrum Health will join Blue Cross Blue Shield of Michigan’s Medicare Advantage PPO network beginning July 1. Already a network provider for Blue Cross and Blue Care Network commercial plan members and Blue Care Network HMO Advantage Medicare plans, Spectrum will accept Blue Cross Medicare Advantage PPO plans at physician offices and its 14 hospital locations in Western Michigan.