Published in Finance

MiBiz Growth Report: June 10, 2019

BY MiBiz Staff Sunday, June 09, 2019 07:00pm

Here is the growth report for June 10, 2019.

Mergers & Acquisitions

  • Mt. Pleasant-based Milan Supply Co., a supplier of water well and wastewater equipment, was acquired by Ft. Wayne, Ind.-based Franklin Electric Co. (Nasdaq: FELE) for $5.9 million, according to a statement. Milan Supply generated around $22 million in consolidated annual sales. The company will join Franklin Electric’s Headwater Companies LLC, a portfolio of groundwater distribution businesses. Milan Supply operates six locations in Michigan, including Sparta, Traverse City and Grayling.
  • Detroit-based business law firm Kotz Sangster Wysocki PC acquired Rockford-based Van Eck Law PC, according to a statement. The deal adds a seventh office in Michigan for Kotz Sangster Wysocki. Attorneys Todd Van Eck and Haley Clough, plus office administrator Brittney Houseman, joined Kotz Sangster Wysocki as a result of the transaction. They will continue to serve clients from the Rockford location and Kotz Sangster’s downtown Grand Rapids offices.
  • Paducah, Ky.-based Paxton Media acquired the Grand Haven Tribune, the Tribune reported. Paxton Media publishes more than 50 daily and weekly newspapers in the Midwest and South. They include The Herald-Palladium in St. Joseph. Paxton Media bought the Tribune’s website and digital operations, the West Michigan News Review, and the newspaper’s downtown office building.
  • Laundry Tyme, a laundry service company based in Douglas, sold recently to investor Brian Gowen. The company provides self-serve and full laundry services in its retail spaces in addition to bulk linen service for vacation rentals, bed and breakfasts and hotels in the area. Gowen plans to use the existing space and business to start a Zoom Express laundry franchise. James Wiley, the founder of Laundry Tyme and J.I. Wiley Enterprises LLC, decided to sell the Douglas Laundry Tyme location to pursue other interests, according to a statement. Grand Rapids-based Small Business Deal Advisors LLC advised J.I. Wiley Enterprises. Terms of the transaction were not disclosed.
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