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Published in Economic Development

MiBiz Growth Report: March 28, 2022

BY Sunday, March 27, 2022 06:02pm

M&A

  • Recruitment platform Job.com has acquired QCI Healthcare Staffing, a Grand Rapids-based health care staffing agency. The deal was the fourth staffing agency acquisition by Job.com, which seeks to acquire small to medium-sized staffing agencies. Terms of the deal were not disclosed.
  • Grand Rapids-based water treatment solutions provider J. Mark Systems Inc. has been sold to Delaware-based industrial water treatment finance and operations platform WTRBox LLC. Founded in 1984, J. Mark Systems has spent more than 30 years designing, building and assembling water treatment solutions for clients in industries that include automotive, aerospace, electronics and appliances. Grand Rapids-based M&A firm Calder Capital LLC advised J. Mark Systems on the deal.
  • An individual investor has purchased Hudsonville-based restaurant and bar Hudsonville Grille. The American-style restaurant underwent extensive renovations and a rebrand after being purchased by John and Holly Hams in 2018. The duo has now sold the establishment, located at 4676 32nd Ave. in Hudsonville, to focus on other business pursuits. Terms of the deal were not disclosed.
  • Two companies specializing in outdoor cooking spaces have merged. Kalamazoo Outdoor Gourmet recently announced that it has merged with Quebec, Canada-based Urban Bonfire to form what will be known as Pleina Group. Both companies will remain independent entities with no changes to their headquarters but will leverage their collective knowledge and resources to deliver outdoor cooking and entertaining experiences to clients. Kalamazoo Outdoor Gourmet develops appliances and cabinetry for outdoor cooking spaces while Urban Bonfire is a designer and manufacturer of outdoor kitchens.
  • Marana Group, a family-owned, Kalamazoo-based technology solutions provider, was recently sold to TMK Worldwide LLC. Marana Group was established in 1977 under the name Lake Michigan Mailers and specializes in working with clients to address their data, document and distribution needs. Marana Group works with clients throughout the United States, Canada, Europe and Australia. “TMK Worldwide approached me with an extremely interesting strategy for Marana Group’s future,” company President David Rhoa said in a statement. “This strategy was based on their exceptional commitment to our associates and a promise to leverage our profound technology for a much larger purpose. I genuinely believe TMK Worldwide will customize our workflow for customers crossing every sector.”
  • Grand Rapids-based Heartland Home Services, which operates a portfolio of HVAC, plumbing and electric businesses around the Midwest, recently completed a string of acquisitions. The company, which is owned by New York City-based private equity firm The Jordan Co., announced that it has acquired National Heating and Air Conditioning in Cincinnati, St. Louis-based Faszold Heating & Cooling and Buckner’s Heating and Cooling, which is located in Kansas City, Mo. Heartland Home Services already operates Grand Rapids-based HVAC companies Vredevoogd Heating & Cooling and Schaafsma Heating & Cooling.

EXPANSION

  • West Michigan’s “rich tradition of furniture making” has helped lure high-end lighting and furniture maker Roll & Hill to build a second manufacturing facility in Wyoming. The Brooklyn, N.Y.-based company, along with state and local economic development officials, announced the $1.5 million investment for a second facility in Wyoming that’s expected to create 50 jobs. The new location at 6192 Valduga Drive is near the company’s existing production facility by U.S. 131 that opened in 2020. 

Capital raise

  • Grand Rapids-based HR technology developer Wedge recently closed a $2 million funding round. The company, which equips HR departments with a recruiting platform that centers on video screening, received investments from the Michigan Capital Network, a trade association representing five regional angel investment groups, in addition to Michigan Rise, a wholly owned subsidiary of the Michigan State University Foundation. “With their support, we’re going to continue Wedge’s mission by introducing new product offerings, expanding our partnerships and changing the way hiring happens,” Wedge CEO Matt Baxter said of the investment.

REAL ESTATE & DEVELOPMENT

  • The Michigan Strategic Fund has approved a brownfield plan totaling $14 million in state tax capture for Spectrum Health’s Center for Transformation and Innovation that is under construction in Grand Rapids. The office campus is located at 635, 706 and 725 Bond Ave. NW in Grand Rapids’ Monroe North district. Plans for the $100 million development include a new eight-story building that will be connected by a two-story bridge to the existing Brassworks building. The development also will include two, seven-story parking structures.

HEALTH CARE

  • Grand Rapids-based Advanced Radiology Services P.C. joined Palmetto, Fla.-based Strategic Radiology LLC, a coalition of independent radiology practices with more than 1,500 members nationwide. ARS has 214 subspecialty radiologists covering 30 hospitals, 10 health care systems and several outpatient imaging centers, physician offices and urgent care centers in Michigan.
  • Grand Valley State University will expand its applied Medical Device Institute (aMDI) with help from a $1 million federal funding appropriation. Established in 2015, aMDI is a non-academic program in GVSU’s Padnos College of Engineering and Computing. Students and faculty in the program work with clients from health systems, contract manufacturers and individual entrepreneurs on ideas for new medical devices. The institute provides engineering analysis, design, fabrication and testing services to these clients as they develop new devices.
  • Mercy Health and a Pennsylvania operator of psychiatric hospitals could get final approval soon to build a new inpatient facility in Kent County. The two companies said last week that an administrative law judge has upheld a 2021 recommendation by Michigan Department of Health and Human Services (MDHHS) staff to award certificate of need approval to a Universal Health Services Inc. (UHS) affiliate for a new facility with 60 adult inpatient beds. The administrative law judge’s ruling clears the way for MDHHS Director Elizabeth Hertel to issue a final decision within a few weeks and allow the project to proceed. 

AGRIBIZ

  • Seven Michigan farmland preservation programs have received $2 million in state funding to assist farmers with costs related to development rights on agricultural land and conservation easements. The funding from the Michigan Department of Agriculture and Rural Development (MDARD) and Michigan Agricultural Preservation Board will help preserve 1,144 acres, state officials announced. Programs in Ottawa, Kent, Barry and Berrien counties received nearly $1.2 million in combined funding, including $657,750 for Barry County.
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