Finance

Here is the MiBiz Growth Report for Nov. 12, 2018.

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GRAND RAPIDS — A lukewarm initial public stock offering by drinkware and cooler-maker Yeti Holdings Inc. spelled a smaller-than-expected payout for a prominent West Michigan family office. 

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GRAND RAPIDS — Even when it first acquired Dickinson Press LLC more than three years ago, Blackford Capital saw Brainerd, Minn.-based CJK Group Inc. as a potential buyer.

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Seven credit unions in Michigan plans to open a new trust bank late in the first quarter of 2019 after receiving approval from state regulators.

 

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MiBiz, in conjunction with the Association for Corporate Growth of Western Michigan, highlighted the winners and finalists of the 2018 M&A Deals and Dealmakers of the Year Awards on Oct. 28 at the Gerald  R. Ford Presidential Museum in Grand Rapids. 

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Here is the MiBiz Growth Report for Oct. 29, 2018.

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An already strong M&A market could get even more competitive in 2019, driven by a good U.S. economy and plenty of available capital.

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The spring acquisition of TCSB Bancorp Inc. in Traverse City, combined with strong loan growth, drove earnings higher for Independent Bank Corp. in the third quarter.

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Macatawa Bank Corp. grew earnings more than 40 percent in the third quarter.

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Stryker Corp.’s sales grew nearly 8 percent during the third quarter to $3.24 billion. The quarterly result compares to sales of $3 billion in the same period last year.

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Marijuana for recreational use by adults could become a $1.4 billion industry in Michigan in the years ahead.

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A tribal-owned architecture and engineering firm in Southwest Michigan plans to relocate its headquarters to a new Kalamazoo commercial development.

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ChoiceOne Financial Services Inc., the parent company of ChoiceOne Bank, recorded higher earnings for the third quarter.

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A West Michigan manufacturer of wood-based products has acquired Pak-Rite Ltd., a Milwaukee,Wis.-based packaging design and manufacturing firm.

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Shoulder Innovations Inc. closed on $2.5 million raised in a Series A equity funding round led by the Michigan Angel Fund of Ann Arbor.

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Mercantile Bank Corp. grew third quarter earnings by more than 20 percent compared to a year ago.

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MiBiz, in conjunction with the Association for Corporate Growth Western Michigan, is pleased to present the sixth-annual M&A Deals and Dealmakers of the Year Awards.

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Friends and family saw Stephen Waterbury heading toward a career in law before he ever did.

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A recapitalization in late 2010 put Grand River Aseptic Manufacturing Inc. on the path to triple-digit annual growth.

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Acquiring Sparta-based Old Orchard Brands LLC in April allowed a Canadian beverage company to add a modern plant in Michigan to better access the Midwestern market.

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Faced with an industry sea change and the loss of a major customer, Benton Harbor-based Midwest Timer Services Inc. needed to take action to remain a growing business.

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Aaron Zeigler fell in love with the car business as a teenager.

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The recent scale and scope of M&A activity around the region has made for a “pretty cool year” for deal advisers like Rajesh Kothari. 

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By focusing on the smaller end of the M&A market, Max Friar has sought to expand the deal flow for his Grand Rapids-based advisory firm.

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Here is the MiBiz Growth Report for Oct. 15, 2018.

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Venture capital investors made fewer deals in Michigan during the third quarter than the same period a year earlier, although the amount invested more than tripled.

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Huntington Bank plans to close 31 branches in Michigan and consolidate them with nearby offices.

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The Michigan Venture Capital Association presented Jody Vanderwel, the former president of Grand Angels, with its Lifetime Achievement Award.

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Blackford Capital’s latest deal brought a new investment partner to the table: Gun Lake Investments, the economic development arm of the Gun Lake Tribe.

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Closing fundraising for a $50 million private equity fund gives Auxo Investment Partners a year-long breather before preparing to raise capital for a second fund.

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In the 12-month period from June 2017 to June 2018, Commerce Bank’s outstanding commercial loan balances in West Michigan grew by 100 percent.

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ST. JOSEPH — United Federal Credit Union’s opening of two offices this summer in South Bend and Mishawaka follow the organization’s plan to build a broader presence in the northern Indiana market.

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The proposed formation of a trust bank by seven Michigan credit unions gives new fodder to a long-standing battle in the financial services industry.

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GRAND RAPIDS — The pending acquisition of 13 offices from an Ann Arbor mortgage company would extend Northpointe Bancshares Inc.’s reach into new markets.

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GRAND RAPIDS — Investment firm Grand Angels plans to launch its third venture capital fund, MiBiz has learned.

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GRAND RAPIDS — The newest investment fund in West Michigan offers a new model for individual investors to take their first steps into the world of venture capital.

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GRAND RAPIDS — An M&A firm catering to small businesses took on a new name as it began to pick up clients and reach out nationally.

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A new $20 million venture capital fund aims not only to generate returns for investors but also address a wide gender gap in the investing industry.

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Despite strong business optimism and continued economic expansion, bankers say they still see their West Michigan business clients taking a cautious approach to debt.

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A pair of initiatives across Southwest Michigan have a similar goal: supporting entrepreneurs starting small businesses in their respective cities and urban cores. 

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Chairman, President and CEO, Fifth Third Bancorp Inc. 

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Rising interest rates won’t lead to change in how banks underwrite credit, although business borrowers need to monitor their effects if they opt for a variable-rate commercial loan.

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