Here is the MiBiz Growth Report for Oct. 29, 2018.
- Grand Rapids-based Lacks Enterprises Inc., a manufacturer of composite wheel systems, trim and coatings for the automotive industry, has acquired Emergent Carbon Wheels, a Kansas City, Kan.-based manufacturer of carbon fiber composite wheels. Terms of the deal, which was completed Sept. 19, were undisclosed. Emergent founder Colin Snyder will now serve as the technology director for Lacks, which added roughly 10 employees with the deal. Lacks generates roughly $500 million in injection molding sales and is the 13th largest injection molding company in the United States, according to Plastics News.
- Grand Rapids-based Fox Motor Group LLC has signed purchase agreements to acquire K&M Dodge RAM and Van Andel & Flikkema Chrysler Jeep, stores located a mile apart on Plainfield Avenue north of Grand Rapids, executives confirmed to MiBiz. The company acknowledged the deals were not finalized and still required the approval of automaker Fiat Chrysler Automobiles NV, but it expects to close on the transactions in January.
- Orchard Creek Capital LLC, a Northville-based private equity firm that specializes in acquiring small U.S. manufacturing businesses, has acquired Grand Rapids-based Classic Die Holding Inc. The plastic injection molder offers full-service mold manufacturing, including mold design, prototyping and construction. According to a statement, the acquisition is the first for Orchard Creek Capital. Grand Rapids-based M&A firm NuVescor Group LLC advised Classic Die on the sale. Terms of the deal were undisclosed.
- Grand Rapids-based Universal Forest Products Inc. (Nasdaq: UFPI) has acquired Pak-Rite Ltd., a Milwaukee,Wis.-based packaging design and manufacturing firm. The deal will expand the company’s capacity in custom packaging solutions, according to a statement. Currently, Pak-Rite specializes in foam and plastic components and wood crating systems for the medical, aerospace and automation equipment sectors. Terms of the deal were undisclosed. Pak-Rite generated sales of nearly $15 million in the 12-month period through September 2018.
- Kalamazoo-based Seven Generations Architecture & Engineering plans to relocate its headquarters on Dec. 1 to The Foundry, a new commercial office redevelopment at 600 East Michigan Ave. in Kalamazoo, according to a statement. The company, owned by Mno-Bmadsen, the independent non-gaming investment arm of the Pokagon Band of Potawatomi Indians, has been located on the campus of Western Michigan University’s Business Technology & Research Park. The Michigan Economic Development Corp.’s Tribal Business Development unit provided a $215,000 grant to the company for the office renovation and to purchase new equipment.
- Air compressor manufacturer Gast Manufacturing Inc. plans to invest $6 million and add up to 30 new jobs at an existing facility in Benton Township in Berrien County. According to a statement, Gast’s investment will go toward modernized labs, research and development functions, and offices and conference rooms. Cornerstone Alliance, an economic development agency in Berrien County, provided support to Gast Manufacturing for the project.
- Kentwood-based Amphenol Borisch Technologies plans a $3.7 million expansion of its campus on East Paris Avenue in a project that could add 82 jobs to the headquarters. The company produces electromechanical assemblies, cable harnesses, circuit cards and discrete mechanicals for the aerospace and defense industries. Amphenol also plans to renovate its existing facility and buy new machinery and equipment. The Michigan Strategic Fund supported the project with a $410,000 performance-based grant.
- DealerOn Inc. plans to expand its Grand Rapids office with a $1.6 million capital investment over three years that could create 44 new jobs. The Maryland-based DealerOn provides a range of technology services to the automotive dealership industry. DealerOn’s Grand Rapids office employs 25 people. The Michigan Strategic Fund supported the expansion with a $300,000 performance-based grant.
- Grand River Aseptic Manufacturing Inc., a contract manufacturer of injectable pharmaceuticals, plans to add 107 new jobs with a $63.5 million expansion at a new location on Butterworth Street south of downtown Grand Rapids. The new 62,400-square-foot facility will house additional production space. The Michigan Strategic Fund supported the expansion effort with the approval of a $1 million performance-based grant.
- Smile Dental Partners opened a new practice, Smile Cascade, on Cascade Road in Grand Rapids. The practice consists of three specialties: Smile Cascade for adult and teen dentistry, Little Smiles for pediatric dentistry, and Smile Orthodontics. Smile Dental Partners opened Smile Grand Haven in 2008.
- United Bank opened a new branch at 44 Ionia Ave. SW in downtown Grand Rapids. The branch extended Grand Rapids-based United Bank’s footprint to 12 offices in West Michigan.
- Sparta-based ChoiceOne Bank opened a branch office at 330 Market Ave. in Grand Rapids. The bank will grow further to 13 offices in West Michigan with the planned opening in December of a branch on East Division Street in Rockford.
- Spectrum Health’s venture capital arm joined other groups to invest $20 million into Los Alto, Calif.-based Gauss Surgical Inc., the developer of a medical device to accurately measure blood loss during surgeries and births. Spectrum participated in the round with the venture capital arms of six other large health systems. The funding round was led by Northwell Health in Great Neck, N.Y.; SoftBank Ventures Korea, the global early-stage venture capital arm of SoftBank Group; and the LS Polaris Innovation Fund that has offices in San Francisco and Boston.
- Holland-based Shoulder Innovations Inc., the developer of a new shoulder replacement implant, closed on $2.5 million in a Series A equity funding round led by the Michigan Angel Fund of Ann Arbor. Grand Rapids-based Wakestream Ventures LLC participated in the round, along with Holland-based Genesis Innovation Group and the venture capital fund cultivate(MD). The company will use the capital to continue product development and build inventory.