Displaying items tagged: Gun Lake Investments
M&A due diligence goes deeper, draws out deals as cost of capital increases
West Michigan M&A professionals describe a market where deals today get closer scrutiny, particularly as lenders ask more questions as the economy slows with higher interest rates.
Market unpredictability leads Gun Lake Investments to boost due diligence, forecasting
As tribally owned Gun Lake Investments dives into planning for a massive redevelopment project along U.S. 131 north of Gun Lake Casino, the non-gaming investment arm of the Match-E-Be-Nash-She-Wish Band of Pottawatomi, or Gun Lake Tribe, also is revisiting its overall strategic plan. CEO Monica King said emerging market forces could spur GLI to consider different kinds of deals in the years ahead.
3 Michigan tribal economic development entities form ‘historic’ construction joint venture
A trio of non-gaming tribal economic development entities has formed a rare real estate development, construction and property management joint venture that’s considered the first of its kind in the Midwest.
Effecting change from the inside: Former tribal investment exec leads national effort to connect minority businesses to capital
In his former role leading Grand Rapids-based Gun Lake Investments, Kurtis Trevan was a vocal critic of the inequities tribally owned firms face when applying for Minority Business Enterprise certifications at the regional level.
People in the News: May 23, 2022
Here is the MiBiz People in the news report for May 23, 2022
Gun Lake Investments taps former deal partner to run operations
After a seven-year career in tribal economic development at Waséyabek Development Co. LLC for his tribe, Jimmy TenBrink now finds himself heading up operations for a familiar tribal partner.
MiBiz Growth Report: April 25, 2022
Here is the MiBiz Growth Report for April 11, 2022.
Tribally owned GLI takes full operating control of technology firm with new investment
GRAND RAPIDS — Gun Lake Investments assumed full operating control through a new investment in Dallas, Texas-based Hall Technologies LLC, a designer and producer of professional audio/visual systems.
MiBiz Growth Report: January 31, 2022
Here is the MiBiz Growth Report for January 31, 2022.
MiBiz on WOOD-TV: Gun Lake Investments names permanent CEO
Gun Lake Investments — the non-gaming economic development arm of the Match-E-Be-NashShe-Wish Band of Pottawatomi Indians, or Gun Lake Tribe — has named Monica King as permanent CEO of the organization effective Jan. 1.
King named permanent CEO of Gun Lake Investments; activity to accelerate in 2022
Gun Lake Investments started 2022 with a permanent CEO in place and plans to become more active in the market.
Tribes renew partnership with acquisition of two Holland transportation companies
The investment arms of two West Michigan tribes have partnered to acquire a pair of transportation companies in Holland.
Gun Lake Investments CEO Kurtis Trevan resigns
GRAND RAPIDS — The CEO of Gun Lake Investments — the economic development arm of the Match-E-Be-Nash-She-Wish Band of Potawatomi Indians, or Gun Lake Tribe — has resigned after six years in the position.
Tribal enterprises persist as gaming revenues tank during pandemic
As the COVID-19 pandemic wreaked havoc on tribal casino gaming revenue, officials with the non-gaming economic development arms of several Michigan tribes say their flow of capital and projects largely held steady.
Tribes leverage similar investment philosophies in McKay Tower transaction
The seeds for the joint purchase of the iconic McKay Tower building in downtown Grand Rapids took root years ago when the CEOs at Waséyabek Development Co. LLC and Gun Lake Investments started talking about doing deals together.
Casino closures make case for Michigan tribes’ further economic diversification
In mid March of this year, all 24 of Michigan’s tribally operated casinos fell silent, their more than 22,280 slot machines spitting out their final paydays for lucky patrons or taking one last injection of cash for the house.
Tribally owned firm secures $161M federal contract, expands GR headquarters
GRAND RAPIDS — A federal contracting firm owned by Waséyabek Development Co. LLC has begun work on a five-year, $161 million contract with the Department of Energy to provide site operations and support services at three National Energy Technology Laboratory locations.
Business owners discuss reacting, coping and planning for the future in the era of coronavirus
Call it the six stages of COVID-19 coping: Experiencing shock. Assessing. Recalibrating. Cash Flowing. Helping. Imagining. That seems to sum up an emotional and intellectual path many West Michigan business owners have travelled recently as their companies faced extraordinary circumstances brought on by the spread of coronavirus.
EDITOR’S NOTEBOOK: Tribes reiterate commitment to GR with McKay Tower deal
More than a decade ago, Grand Rapids business leaders lobbied hard to block the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, known locally as the Gun Lake Tribe, from opening a casino near Wayland.
Groups like 23 is Enough and MichGO drove the narrative that any casino development south of Grand Rapids would “siphon off” jobs and investment from the city’s then-rebuilding downtown, limiting growth in entertainment options and economic opportunity alike. They cited a study commissioned by the Grand Rapids Area Chamber of Commerce in the early 2000s that estimated $880 million of “economic hemorrhaging” in the surrounding counties if Gun Lake Casino were ever allowed to move forward.
Looking around downtown Grand Rapids today, it’s hard to find evidence that their worst fears were in any way realized.
Tribes partner in $17.5 million purchase of iconic McKay Tower in Grand Rapids
GRAND RAPIDS — Tribally owned Gun Lake Investments and Waséyabek Development Co. have jointly acquired McKay Tower in downtown Grand Rapids, MiBiz has learned.
M&A Roundtable: Buyers continue chasing deals as limited inventory of quality sellers persists
ROUNDTABLE: The M&A market ended 2019 in good shape and professionals who work in the field expect dealmaking to remain strong in the new year.
‘Perfect fit:’ Gun Lake Investments invests in Stockbridge project amid push into real estate deals
GRAND RAPIDS — Tribally-owned Gun Lake Investments is making an active push into the West Michigan commercial real estate market with an investment in a high-profile redevelopment and three property acquisitions so far this year, MiBiz has learned.
Artificial barrier or lack of understanding? Tribal entities struggle to secure key minority business certification
Business entities owned by West Michigan-based Native American tribes face a surprising roadblock in gaining access to programs used to grow minority-owned businesses. While tribally-owned businesses often receive the Small Business Administration’s 8(a) disadvantaged business certification, they have not found similar success when it comes to getting “minority business enterprise” (MBE) certification through the Michigan Minority Supplier Development Council (MMSDC).
GAINING MOMENTUM: West Michigan tribes open doors to business opportunities
West Michigan tribes may be relatively new to implementing economic development and diversification plans, but they’ve quickly established themselves as strategic partners for the local business community because of their focus on investing in companies and real estate. Moreover, many of the federally-recognized sovereign tribes are looking to engage with non-tribal businesses, spreading the opportunity beyond just tribal members into potentially powerful economic opportunities across the region.
Blackford Capital sells Dickinson Press in first exit for Michigan Prosperity Fund
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.
After participating in Blackford acquisition, Gun Lake Investments eyes more deals
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.
OPEN FOR BUSINESS: Tribes invest in economic diversification via M&A, real estate deals
Across West Michigan, Native American tribes have started to hang out their own shingle in enterprises that move them away from the familiar tribal-owned casino.
MiBiz Growth Report: March 6, 2017
Here is the MiBiz Growth Report for March 6, 2017:
• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.