Published in Finance

MiBiz Growth Report; August 5, 2019

BY MiBiz Staff Sunday, August 04, 2019 05:06pm

Here is the MiBiz Growth Report for Aug. 5, 2019:

M&A

  • Grand Rapids-based engineering firm Fishbeck, Thompson, Carr & Huber Inc. has acquired Northwest Consultants Inc., a civil engineering firm in Toledo, Ohio. The deal gives Fishbeck a broader presence in Ohio and a greater ability to serve clients in the Midwest. Northwest Consultants has offices in Canton, Mich., Toledo and Dayton, Ohio, and Indianapolis, Ind. The company reached out to Fishbeck as it was going through its succession planning process, which kicked off discussions about the acquisition. Terms of the deal were not disclosed. Grand Rapids-based law firm Rhoades McKee PC advised Fishbeck on the transaction. 
  • Orlando-based Kustom US Inc. has acquired Patriot Restorations LLC, a property restoration services provider based in Michigan City, near Jackson, and with an office in Kalamazoo, where the company has operated since 2008. Patriot’s leadership team, including Matt Snowden, George Newport and Cory Winslow, as well as the company’s production and office staff will stay on under the new ownership, according to a statement. The deal will help accelerate Patriot’s growth and provide the company with additional resources. Terms of the deal were not disclosed. 

Expansion

  • Family-owned Roskam Baking Co. is planning an $85.2 million expansion of its operations at 5565 Broadmoor Ave. SE in Kentwood to make room for two new contracted product lines, according to a statement. Roskam executives estimate the project will result in the creation of 238 jobs. The company currently employs more than 2,000 people. The Michigan Economic Development Corp. backed the expansion with a $1 million performance-based grant via the Michigan Business Development Program. As well, the City of Kentwood plans to consider a property tax abatement for the project. 
  • Refractory product manufacturer HarbisonWalker International Inc. is investing $9 million to expand its plant in Newaygo County. The expansion will allow for additional warehousing space and increase capacity for advanced manufacturing and hydraulic presses, according to a statement. Pittsburgh, Pa.-based HarbisonWalker employs 140 people at the 110,000-square-foot facility, located at 1301 E. 8th Street in Everett Township, just south of the city of White Cloud. The company cited customers’ investments in increased steel production as a main driver of the expansion in West Michigan. 
  • Mead Johnson & Co. LLC, a manufacturer of infant formula, plans to invest $67.7 million to expand its processing plant in Zeeland. The company’s expansion will include building renovations to add a new employee entrance and the installation of new machinery and equipment that will enable the facility to become the global supply and technical center for hypoallergenic infant formulas. The Michigan Commission of Agriculture and Rural Development is supporting the project with a $175,000 grant.
  • Hudsonville Ice Cream is investing $863,300 to add new machinery and equipment at its plant in Holland. The state is supporting the project with a performance-based $60,000 grant, according to a statement from Zeeland-based Lakeshore Advantage Corp.
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