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Published in Economic Development

MiBiz Growth Report: March 7, 2016

BY MiBiz Staff Sunday, March 06, 2016 01:53pm

Here is the MiBiz Growth Report for March 7, 2016.

  • M&A: Dowagiac-based Mno-Bmadsen, the economic development arm of the Pokagon Band of Potawatomi Indians, has acquired a controlling interest in WBK Engineering LLC, a civil engineering, surveying, planning and environmental resources firm in St. Charles, Ill., according to a statement. The company employs 40 people at two Illinois offices and serves clients throughout the Midwest. WBK President John Wills will continue to lead the firm.

  • M&A: Spring Lake-based Noble Company, a manufacturer of membranes and shower elements for the plumbing and tile industry, was acquired by Cleveland, Ohio-based Federal Process Corp., according to a statement. The acquisition comes as Federal Process attempts to add additional products and manufacturing capabilities to its portfolio of companies. Executives do not expect any management changes to occur at Noble, which was advised by Grand Rapids-based BlueWater Partners.

  • M&A: Ferndale-based Magnuson-Hagopian Enterprises Inc., which does business as Johnson Michigan Automotive & Industrial Coatings, has been acquired by paint distributor FinishMaster Inc. of Quebec, according to a statement. Johnson Michigan operates facilities in Battle Creek, Lansing and Ferndale and primarily serves the automotive industry. A subsidiary of Uni-Select Inc., FinishMaster made the acquisition as part of its strategy to strengthen its presence in Michigan and in its industrial business segment, according to the statement.

  • Expansion: Holland-based packaging supplier Bradford Co. has expanded its operations in Gallatin, Tenn., about 30 miles from Nashville, according to a report in The Tennessean. The business plans to invest $5.1 million and hire an additional 25 people.

  • Expansion: The proprietor of Fish Lads LLC plans to open Carvers, an artisan butcher shop, in adjacent space in Grand Rapids’ Downtown Market. Proprietor Jeff Butzow said the growth of Fish Lads led to his decision to open the butcher shop. Carvers is scheduled to open this summer and offer meat to go and an on-site kitchen.

  • Expansion: Zeeland-based Disher Design & Development plans to increase its workforce by approximately 30 percent with the help of a $200,000 performance-based grant from the Michigan Economic Development Corp. The design, engineering and manufacturing firm, which has offices in Zeeland and Ann Arbor, plans to deploy the grant as part of a larger $1.4 million investment in its workforce, according to a statement. Disher Design plans to create 42 new positions throughout its organization as a result of the investment. The company employs 130 workers between its Zeeland and Ann Arbor offices.

  • Fundraising: Armune Bioscience Inc. raised nearly $9.1 million in a capital round to support further commercialization of a blood test to screen for prostate cancer. Part of a $9.4 million Series A capital raise, the funding in the Kalamazoo-based firm came from 46 investors, according to a regulatory filing with the U.S. Securities and Exchange Commission. Formed in 2008, Armune Bioscience this year intends to begin raising a subsequent $25 million in Series B growth capital after launching its Apifiny diagnostic blood test last April. Since signing a deal in December with Quebec City-based Aeterna Zenteris Inc. to co-market Apifiny, Armune has secured a number of deals with labs and provider networks to extend the blood test’s deployment across the U.S. and globally.
Read 3461 times Last modified on Thursday, 10 March 2016 10:43