A mix of economic optimism and the availability of capital should yield another strong year for acquisitions in 2017.

Published in Manufacturing
Sunday, 08 January 2017 17:22

MiBiz Growth Report: Jan. 9, 2017

zHere is the MiBiz Growth Report for Jan. 9, 2017. 

• M&A: Grand Rapids-based Irwin Seating Co. signed a letter of intent to purchase American Seating Co.’s architectural fixed seating business in a deal expected to close in March 2017, pending due diligence. The business includes products for stadiums, auditoriums and other large venues. The company’s move to divest a “higher profile part of our business was an extremely difficult decision to make,” Chairman and CEO Ed Clark said in a statement announcing the transaction. The sale comes as American Seating seeks “to optimize its operations and resources in order to pursue significant growth opportunities” in its transportation seating business, where the company will continue to focus. American Seating intends to lay off 80 workers early this year as a result of the deal. However, a portion of that workforce may transition into roles at Irwin Seating, according to the statement. Terms of the deal were not disclosed.

Published in Breaking News

Martin Stein, founder and managing director of Grand Rapids-based private equity firm Blackford Capital, was named Private Equity Professional of the Year in the 15th Annual M&A Advisor Awards.

Published in Breaking News

As waves of baby boomers continue to reach retirement age, many have faced the prospect of selling the manufacturing companies they’ve built over the years. 

Published in Manufacturing

Martin Stein always noticed Grand Equipment Co. alongside I-196 when he drove through Hudsonville.

Published in M&A Award Profiles
Sunday, 16 October 2016 19:27

MiBiz Growth Report: Oct. 17, 2016

Here is the MiBiz Growth Report for Oct. 17, 2016: 
• M&A: Grand Rapids-based Ranir LLC, a manufacturer of a variety of oral care products, has acquired Toronto-based BrushPoint, a maker of toothbrushes. In the deal, for which terms were not disclosed, Ranir will increase its product offerings and distribution footprint in the U.S., Canada and Europe. The BrushPoint acquisition comes on the heels of a deal in July of this year in which Ranir purchased the Rembrandt teeth-whitening brand from Johnson & Johnson Consumer Inc. Last month, the company also said it had purchased the 200,000-square-foot facility at 4701 East Paris Ave. SE where it had been a tenant for 20 years.

Published in Breaking News

GRAND RAPIDS — After purposely avoiding deals in the automotive industry, private equity firm Blackford Capital has shifted its strategy with the acquisition of a Southeast Michigan supplier.  

Published in Manufacturing

Grand Transformers Inc. in Grand Haven acquired Warner, N.H.-based Warner Power, a designer and manufacturer of electrical transformers and power systems.

Published in Breaking News

Quality Aluminum Products Inc. — a maker of siding, gutters, roof edging and other exterior products for the residential housing industry — became the seventh portfolio company for the Grand Rapids-based Blackford Capital’s Michigan Prosperity Fund.

Published in Breaking News

If you want to sell your business this year, you still have a pretty good chance of cutting a favorable deal as the seller’s market continues.

Published in Finance
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