Displaying items by tag: Michigan Strategic Fund
Here is the MiBiz Growth Report for Feb. 5, 2018
• M&A: Grand Rapids-based Alliance CNC Cutter Grinding Services Inc. was acquired by GWS Tool Group LLC of Tavares, Fla., according to a statement. Alliance CNC is a designer and manufacturer of tight tolerance drills, reamers and micro-tools. With the deal, GWS adds hole-making tool capabilities to its existing focus in round tools, endmills and inserts. Terms of the deal were not disclosed, but Alliance CNC will continue to operate out of its Grand Rapids area plant with its existing management team. GWS Tool Group is a vertically integrated manufacturer of engineered cutting tools for the aerospace, defense, power generation, automotive and medical industries.
For the fourth time since 2014, the Grand Rapids Downtown Market has asked permission to keep paying only the interest on its loans tied to a state economic development incentive as it seeks to restructure its debt load.
Here is the MiBiz Growth Report for Jan. 22, 2018:
• M&A: Bridgman-based Kruger Plastic Products has been acquired by Chicago-based private equity firm HC Private Investments, according to a statement. Kruger President Pat Brandstatter and VP of Engineering Dirk Kruger retained “significant stakes” in the custom injection molding company. Terms of the deal were not disclosed. Grand Rapids-based Varnum LLP served as legal counsel to Kruger, which was advised on the transaction by BlueWater Partners LLC, a Grand Rapids-based investment banking and consulting firm.
GRAND RAPIDS — After running into challenges with leasing retail space at a prominent downtown redevelopment, a DeVos-held entity got permission from the state to delay its incentive loan repayments.
GRAND RAPIDS — The developers of a mixed-use project being built on the southwest side of downtown just completed an $8.7 million capital raise to finalize a construction loan.
An affiliate entity of Rockford Construction Company Inc. today received approvals and state Brownfield funds from the board of the Michigan Strategic Fund to move forward with its proposed “superblock” on Grand Rapids’ west side.
Legislation that passed the state Senate last Thursday seeks to level the playing field for economic development organizations trying to attract companies to Michigan’s border communities.
Developers of an apartment project along the Grand River north of downtown Grand Rapids secured state backing.
WEST MICHIGAN — 2016 has featured a flurry of commercial real estate news, in a year that’s been defined by dwindling vacancies for developers and rising costs for end users.