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Here is the MiBiz Growth report for June 20, 2022:

M&A

  • Iron Mountain-based Boss Snowplow, a division of The Toro Co. (NYSE: TTC), has acquired the liquid deicing assets of Le Center, Minn.-based Voigt Smith Innovation LLC, according to a statement. Privately held Voigt Smith Innovation manufactures brine making liquid deicing equipment and applicators, including connected technologies, that are used by snow and ice contractors. Under the agreement, Voigt Smith Innovation’s staff will join the Boss team. Terms of the deal were not disclosed. The strategic acquisition follows a period of growth last year at Boss Snowplow’s headquarters in the Upper Peninsula. The company announced plans to double its office space in October, and completed a 44,000-square-foot manufacturing expansion in April 2021. Toro acquired Boss for $227 million in 2014. 
  • Grand Rapids-based private equity firm Blackford Capital made four exits of portfolio companies last week. Blackford sold Grand Equipment Co. in Hudsonville to Chicago-based investment firm Cognitive Capital Partners LLC. The exit comes seven years after the Grand Rapids-based Blackford Capital acquired Grand Equipment, a dealer for new and used heavy construction equipment and parts. Cognitive Capital Partners invests in technical and business services, as well as manufacturing and industrial products and services. Terms of the sale by Blackford’s Michigan Prosperity Fund were undisclosed. Also last week, International Inc. — a subsidiary of Carolina Wholesale Group — announced that it acquired Buffalo Grove, Ill.-based International Toner Co., Reno, Nevada‐based Supplies Wholesalers, and Illinois-based Cartridge World USA from Blackford Capital.
  • Chicago-based Help at Home, a national provider of in-home care for seniors, acquired Alliance Home Health Care Services in Holland. Alliance Home Health provides in-home care services in seven counties in Southwest Michigan and has offices in Allegan, Dowagiac, Holland, Muskegon, St. Joseph and Grand Rapids. The acquisition expands Help at Home’s existing nine-branch network in Michigan. Jennifer Lemkuil, Alliance president and CEO, became director of market operations for Michigan for Help at Home.
  • Gemini Media in Grand Rapids, a wholly owned subsidiary of Troy-based Hour Media, acquired Holland-based Group Tour Media, publisher of Group Tour Magazine, Youth Travel Planner Magazine, Heritage & History, Urban St. Magazine and Pike Magazine. The portfolio includes a quarterly publication serving a national audience of group tour planners, as well as related custom publications, most notably Circle Michigan.
  • Food retailer and distributor SpartanNash Co. has closed on a deal to purchase the Shop-N-Save Food Center chain of grocery stores. After announcing last month that it had struck an agreement to purchase the three-store chain with locations in Benzonia, Fremont and Ludington, SpartanNash (Nasdaq: SPTN) formally announced the deal last week and its plan to rebrand the three locations as Family Fare stores, one of SpartanNash’s marquee brands. By rebranding the three Shop-N-Save stores, SpartanNash now operates 86 Family Fares.
  • Grand Rapids-based insurance brokerage and fintech Acrisure LLC announced that it has acquired independent and tech-enabled insurance agency QuickInsured, which is based out of Columbus, Ohio. Under the deal, Acrisure acquired …….

    Source: https://mibiz.com/sections/economic-development/mibiz-growth-report-june-20-2022

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