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Published in Economic Development

MiBiz Growth Report: April 25, 2022

BY Sunday, April 24, 2022 06:49pm

M&A

  • Gun Lake Investments assumed full operating control through a new investment in Dallas, Texas-based Hall Technologies LLC, a designer and producer of professional audio/visual systems. Gun Lake Investments — the non-gaming economic development arm of the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, or Gun Lake Tribe — initially invested in Hall Technologies in 2018 alongside Grand Rapids-based private equity firm Blackford Capital. Gun Lake Investments owned a majority stake in Hall Technologies and received a board seat, although Blackford Capital held operating control. The latest investment raises Gun Lake Investments’ majority stake in the company and transitions operating control to the tribally owned firm.
  • Grand Rapids-based commercial cleaning services company Aggressive Cleaning Services Inc. has been purchased by a strategic buyer. Aggressive Cleaning Services, which was owned by company president Ryan VanderGraaf, primarily services office buildings and medical facilities throughout greater Grand Rapids. The name of the buyer, a full-service building services company represented by Grand Rapids-based M&A advisory firm Calder Capital LLC, was not disclosed. VanderGraaf will remain with the company.
  • Family-owned pest management company Rose Pest Solutions, which is based in Troy and has locations all across Michigan’s Lower Peninsula, has acquired Cobb’s Pest Control, which is headquartered in Traverse City. This is Rose’s second acquisition in the area after acquiring Traverse City-based Collier’s Pest Control last year. Founded in 1860, Rose Pest Solutions is one of the oldest pest management companies in the country.
  • New Lenox, Ill.-based HVAC and plumbing parts distributor Munch’s Supply has expanded into Michigan’s plumbing market by acquiring T.A. Gentry Supply Inc., which operates branches in Holland, Kalamazoo and Lansing. Munch’s, which staffs more than 1,200 employees and operates 70 locations across 17 different states, is owned by St. Louis-based Marcone, a leading distributor of home appliance, HVAC and plumbing repair parts. T.A. Gentry offers wholesale supplies for kitchens and baths. 
  • Heartland Home Services Inc., a Grand Rapids-based business that operates a variety of HVAC, plumbing and electrical home service brands throughout the Midwest, added to its portfolio with the recent acquisition of 100-year-old Deljo Heating and Cooling, headquartered in the Chicagoland area. The company announced that the acquisition strengthens Heartland’s presence in Illinois and opens up opportunities in the North Shore market of Chicago. Heartland Home Services collectively serves more than 700,000 customers while operating brands in Illinois, Indiana, Kentucky, Missouri, Ohio, Wisconsin and its home state of Michigan. Heartland owns and operates Grand Rapids-based Vredevoogd Heating & Cooling and Schaafsma Heating & Cooling.
  • Traverse City-based Hagerty Inc., a publicly traded specialty insurance provider and automotive lifestyle brand, has acquired tech company Speed Digital, which offers technological solutions for car dealers, auction houses, collectors and enthusiasts. These digital products include Dealer Accelerate, a subscription-based software that helps dealers manage car inventories, and Motorious.com, an online marketplace for dealer-verified collector cars. Speed Digital also provides digital tools that help to manage the assets of private car collections. “When we talk about our passion for strengthening and growing car culture for future generations, we mean the whole automotive ecosystem, including those who help get collector cars in the hands of enthusiasts,” Hagerty CEO McKeel Hagerty said in a statement.

EXPANSION

  • Fusion Fluid Equipment LLC, a manufacturer of fluid mixing equipment, plans to invest $6.1 million to expand and double the size of its northern Muskegon County facility. The Whitehall Township-based business — which builds blending equipment for the pharmaceutical, personal care, food and beverage, waste treatment, oil and gas and other industries — will add on to its existing 42,000-square-foot facility located at 8555 Silver Creek Road. After the expansion, the facility will feature 94,000 square feet of total space. Fusion Fluid CEO Tom Swiatek told MiBiz that the expansion would be used for additional manufacturing space, while additional office space also is in the works. 
  • A Traverse City-based credit union plans to enter the West Michigan market with the planned opening of three branches in Holland, Zeeland and Muskegon, along with several more in the years ahead. Each of the new offices for 4Front Credit Union will open in former TCF Bank branches that were among dozens in Michigan that closed last year following TCF’s acquisition by Huntington Bancshares Inc. The new locations will extend 4Front Credit Union’s market beyond the northwestern Lower Peninsula, where it has 15 offices. The credit union wants to expand further in West Michigan beyond the three planned lakeshore locations and could have up to 10 branches in the region within five years, CEO Andy Kempf told MiBiz.
  • A West Michigan couple who launched their business through online platform Etsy in 2014 is now preparing to open their second brick-and-mortar retail store in downtown Grand Rapids. Kayla and Alex Benda recently opened lifestyle store Courage and Soar next to their first storefront, Oh, Hello Paper and Gifts, which opened at 40 Monroe Center St. NW at the start of the pandemic in early 2020. Courage and Soar is a sister business of Oh, Hello Paper and Gifts, where the couple sells their own goods as well as products from 60 local vendors.

REAL ESTATE & DEVELOPMENT

  • Nonprofit housing organization Dwelling Place is partnering with First United Methodist Church and Hope Church to develop a 46-unit, affordable apartment development in downtown Holland. The proposed development at the corner of Tenth Street and Pine Avenue may need a zoning change or special use approval based on a recent overhaul of the city’s zoning codes, known as its new Unified Development Ordinance.

HEALTH CARE

  • Hospitals, physician groups and other care facilities owned and operated by Trinity Health in Michigan will change their names as the health system transitions to a common brand identity. Under the rebranding plan announced this month, all of the Catholic health system’s locations in Michigan — including Mercy Health facilities and operations in West Michigan — will blend “Trinity Health” into their new names with the markets in which they operate. All Trinity Health Michigan locations will rebrand as new exterior signage is installed over the next eight months, beginning this month in Muskegon and Ann Arbor.
  • University of Michigan Health-West has opened a new outpatient medical center in Allendale. The 15,000-square-foot Allendale Health Center on Becker Drive at Lake Michigan Drive sits two miles from the health system’s existing location that opened in 2009. Since then, Allendale Township’s population has grown more than 28 percent. The larger health center houses physicians in primary care, family practice, OB/GYN and sports medicine. University of Michigan Health-West also intends to rotate specialists into the office and may add even more care providers. The Allendale Health Center also offers walk-in visits and same-day appointments, onsite lab services and imaging.
Read 400 times Last modified on Monday, 02 May 2022 09:44
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