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Detroit - Articles

July 22, 2019

Ocuphire Raises Over $5M To Complete Late Phase 2 Clinical Trials

Investors include RBI Opportunities Fund, Belle Capital Fund, Grand Angels Fund, First Capital Fund, Michigan Angel Fund, Biosciences Research and Commercialization Center, Ann Arbor Angels, Woodward Angels, Kalamazoo Angels, BlueWater Angels and other individual and institutional investors....

By Mark Scott

July 22, 2019

Huron Capital-Backed Sciens Building Solutions Buys Firm

The transaction represents the latest acquisition for Sciens since Huron Capital formed the platform in 2016 to pursue a buy-and-build investment strategy in the fire service and integrated solutions sector....

By Mark Scott

July 18, 2019

Huron Capital's Albireo Energy Buys Alabama Controls

Huron Capital formed Albireo in 2014 with the goal of building an industry leader in the fast-growing U.S. market for energy efficiency, building automation and energy management....

By Mark Scott

July 18, 2019

Dave Zilko On Selling Garden Fresh Gourmet

Dave Zilko talks about how the Garden Fresh Gourmet deal got done, the emotional toll that dealmaking can take and the move Campbell’s made earlier this year to sell the business....

By Mark Scott

July 16, 2019

Chemical, TCF Deal Receives Regulatory Approval

The combined company is expected to have over $46 billion in total assets and be a top 10 bank in the Midwest based on deposit market share....

By Mark Scott

July 12, 2019

Tower International set to be acquired by Autokiniton Global for $900M

Tower International Inc. is set to be acquired by Autokiniton Global Group in a deal valued at $900 million....

By Adam Burroughs

July 9, 2019

Don Nystrom On Dealmaking Pitfalls

Don Nystrom, CEO of Dynamic Aerospace and Defense, shares his insights into the common mistakes to avoid in the dealmaking process....

By Mark Scott

July 9, 2019

Beaumont Health To Buy Summa Health

The two health systems, with combined annual revenue of more than $6 billion, have signed a letter of intent to draft a definitive agreement and expect to finalize a deal by the end of the year. Summa Health would maintain local leadership, including a local board....

By Mark Scott

July 1, 2019

Fisher Building Owners Close On $36M Refi Loan

The deal provides New York-based HFZ Capital and The Platform, a private development firm in Detroit, with money to knock out prior debt on the building, according to a statement on the UC Funds website, clearing the way for preservation work....

By Mark Scott

July 1, 2019

Padnos Buys Regal Recycling, Adding Two New Scrap Locations

The plant in Howell will be operated by Padnos while the Whitmore Lake location will be managed by GLR Advanced Recycling, a partner of Padnos....

By Mark Scott

July 1, 2019

Huron Capital Leverages Growing Number Of Independent Sponsors

Independent sponsors are a growing part of the M&A landscape, and Detroit’s Huron Capitalis taking advantage of the deal opportunities they provide, says Gretchen Perkins, business development partner....

By Mark Scott

June 27, 2019

Be Sure You Can Manage Your Capital Before You Take It

Competition is strong among financial institutions engaged in M&A activity, which creates risk for companies looking to make a deal, says says Richard C. Hampson, state president and head of commercial banking at Citizens Bank, Michigan....

By Mark Scott

June 26, 2019

MedKairos raises $1.46 million angel round

The company, a developer of a cancer diagnostic device that automates the biopsy process to aid in early-stage cancer detection, previously received a $50,000 grant from the National Science Foundation in 2016....

By Michael Marzec

June 26, 2019

MentorcliQ closes $6.3M in funding, led by Plymouth Growth

The Columbus-based employee mentoring software provider obtained the funding in a round led by Plymouth Growth Partners, an Ann Arbor, Mich.-based growth capital investment firm....

By Jayne Gest

June 26, 2019

StockX Attains Unicorn Status After Record Michigan VC Raise

The company also hired eBay executive Scott Cutler as its new CEO, succeeding co-founder Josh Luber, who will continue to serve on the executive leadership team and board....

By Mark Scott

June 26, 2019

Esperion Lands $200M Funding Agreement from Oberland Capital

The original Esperion was acquired by Pfizer in 2004 for $1.3 billion, but a new Esperion was founded and subsequently bought the rights to the product from Pfizer....

By Mark Scott

June 25, 2019

Huron Capital’s Danielle Lalli Tabbed As PE Rising Star

Huron Capital Vice President Danielle Lalli was selected as one of 10 rising stars in private equity by Mergers & Acquisitions, a magazine and website that tracks the M&A industry."[Lalli] has quickly...

By Jayne Gest

June 24, 2019

WorkForce Software Receives Equity Investment

WorkForce Software has raised $17 million through a Series A round, a venture round and now a private equity round, according to Crunchbase....

By Mark Scott

June 24, 2019

Gores Forms JV To Redevelop Palace Of Auburn Hills Land

Schostak Brothers will serve as the lead partner and manage the future mixed-use development, which is expected to include corporate office, research & development and technology companies. The Palace was the home of Detroit’s NBA franchise from 1988 to 2017....

By Mark Scott

June 20, 2019

James Tolston’s handshake deal pays off big

How the Detroit entrepreneur took a handshake deal to build North American Assemblies and then buy it from 14 stockholders — 13 of whom didn't want to sell....

By Jayne Gest

June 19, 2019

Capital One buys Detroit online luxury retailer Jewel

The bank holding company says the acquisition of the online luxury retailer will add to its efforts to develop tools that help customers make smarter financial decisions....

By Jayne Gest

June 18, 2019

Masco to sell cabinetry and windows businesses

Livonia-based Masco Corp. said it will pursue the sale of Masco Cabinetry, Milgard Windows and UK Window Group in three separate transactions....

By Michael Marzec

June 13, 2019

Bain Sells Impact Fitness to Morgan Stanley Capital Partners

Impact Fitness operates 29 Planet Fitness clubs across Michigan, Indiana, British Columbia and Ontario. It was founded by Chris Klebba in 2006 with the opening of the first Planet Fitness club in the Greater Detroit market....

By Mark Scott

June 13, 2019

East Lansing Accounting Firms Merge with Cincinnati Firm

Warmels & Comstock and Layton & Richardson have agreed to merge with Clark Schaefer Hackett, a top 100 CPA and advisory firm....

By Mark Scott

June 13, 2019

Priority Health buys Southfield' CAM Administrative Services

The third-party administrator of health benefits will continue to operate under its current name....

By Michael Marzec

June 13, 2019

Woodward Angels Ready To Spark Entrepreneurial Growth

Lauren Hoffman of Woodward Angels and Tim Parker of Grand Angels talk about their effort to make connections and spark more early-stage entrepreneurial growth in Southeast Michigan....

By Mark Scott

June 12, 2019

Spring Labs Raises $23M in Series A Funding for Auto Loan Blockchain Work

The round was led by GreatPoint Ventures out of San Francisco with significant participation from existing investors, including August Capital, as well as GM Ventures, the corporate venture capital arm of Detroit’s General Motors....

By Mark Scott

June 10, 2019

Federal Heath buys Advance Graphic Systems

The acquisition provides Federal Heath with an established customer base of large retailers, design firms, architects, turnkey solutions companies, construction businesses, and exhibit houses....

By Michael Marzec

June 7, 2019

Chemical and TCF shareholders approve merger of banks

The combined operations will be based in Detroit and operate under the TCF name following the closing, which is expected in the third quarter....

By Jayne Gest

June 7, 2019

Health Alliance Plan to buy Medicaid plan

The move by the Henry Ford Health System subsidiary marks a re-entrance into the state of Michigan’s Medicaid HMO service area known as Region 10....

By Jayne Gest

June 7, 2019

Trevco Acquires California Print-on-demand Company

Trevco works with licensors such as Warner Bros., Hasbro and Paramount Pictures to manufacture consumer products and create digital e-commerce campaigns....

By Mark Scott

June 7, 2019

Motor City Industrial Makes Third Acquisition

Purchase of Quality Fastener and Supply, a distributor of industrial consumables and ancillary products based in Oxford, will expand the company's product and service offerings....

By Mark Scott

June 6, 2019

Arsenal’s Maria Thompson: Investors Want Businesses That Solve Problems

Investors aren’t looking for unique business opportunities, says Arsenal venture partner Maria Thompson. They want business models that solve problems, preferably big ones....

By Mark Scott

June 5, 2019

Toledo's Waterford Bank to buy Clarkston State Bank

The deal is valued at $34.8 million. Clarkston, founded in 1998, has total assets of $219 million and operates two offices in Oakland County. Waterford Bank, founded in 2007, has assets of $748 million....

By Michael Marzec

June 3, 2019

Joyson Safety Systems Forms Tri-Party Joint Venture

The new tri-party joint venture will be called Joyson ANAND Abhishek Safety Systems Private Ltd. The merger of the two entities is subject to approval of the National Company Law Tribunal....

By Mark Scott

May 31, 2019

Italy's Tiberina Purchases 10 Acres Of Industrial Land

ICP, a Cleveland-based developer, and IRG, a real estate development and investment firm based in Los Angeles, originally acquired the property in 2014 from Detroit’s American Axle & Manufacturing Inc....

By Mark Scott

May 30, 2019

DTE, Consumers Energy Commit To Spend $15B To Grow Michigan Businesses

An average of 60 cents on every dollar being spent by the energy providers will go to a Michigan supplier through 2024....

By Mark Scott

May 30, 2019

RSM'S Mike Dingwall: Why You Need Professional Sell-Side Due Diligence

RSM's Mike Dingwall discusses sell-side strategies that can set you up for positive outcome in the sale of your business....

By Mark Scott

May 29, 2019

Part D Advisors Acquires Eligibility Verification Business

The Livonia-based administrator of Medicare’s Retiree Drug Subsidies made its second deal in two months with the purchase of select assets from Plymouth-based Health Decisions....

By Mark Scott

May 29, 2019

Super C Group buys 190 salons from Regis

The salons being sold and refranchised are currently branded as Famous Hair, Best Cuts, Fiesta Salons, First Choice Haircutters and BoRics Hair Care. They will be converted to Supercuts and Cost Cutters over the next several months....

By Mark Scott

May 29, 2019

Huron's High Street Insurance Buys Traverse City Agency

Huron Capital-backed High Street Insurance Partners has acquired KorthaseFlinn Insurance & Financial Services, the fourth acquisition for High Street since its formation by Huron Capital in 2018....

By Mark Scott

May 28, 2019

Dan Gilbert hospitalized after suffering stroke

Rock Holdings and Cleveland Cavaliers owner Dan Gilbert was hospitalized Sunday after suffering a stroke while being treated at a Detroit-area hospital....

By Michael Marzec

May 24, 2019

Gilbert completes sale of Greektown Casino for $1B

VICI Properties bought the land and real estate assets of the property for about $700 million, while Penn National Gaming bought the operating assets for about $300 million....

By Mark Scott

May 23, 2019

A good M&A strategy starts with a compelling story

M&A advisor Joseph Valentic explains why a good M&A strategy starts with a good story, but also needs a solid team and attention to detail....

By Mark Scott

May 22, 2019

American Battery Solutions Forms, Acquires Assets

Under the proposed agreement, ABS will acquire the testing lab assets for high-voltage battery systems and will lease 40,000 square feet of space for prototype battery pack assembly and offices located in Lake Orion....

By Mark Scott

May 22, 2019

NHI Acquires Assisted Living Facility In $13.5M Deal

NHI is a real estate investment trust specializing in sale-leaseback, joint venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments....

By Mark Scott

May 22, 2019

NASCAR Buying ISC, Michigan International Speedway In $2B Deal

Acquisition will give the auto racing sanctioning and operating company control of more than a dozen raceways, including Michigan International Speedway....

By Mark Scott

May 20, 2019

Clinc raises $52 million Series B round to scale AI platform

Ann Arbor, Mich.-based Clinc, which is developing a conversational AI platform, has raised a $52 million Series B, with investments from Drive Capital, Insight Partners, DFJ Growth, Hyde Park Venture...

By Jayne Gest

May 20, 2019

Huron-backed Pueblo Makes Fourth Add-On Acquisition

Huron Capital acquired Pueblo in December 2017 to pursue a buy-and-build strategy in the commercial HVAC market in the southwestern U.S....

By Mark Scott

May 16, 2019

P&M Advises on Sales of Three Michigan Firms to Carlisle

Southfield-based P&M served as the exclusive financial adviser to the acquisition of Hosco Fittings, Classic Precision and Integrated Dispense Solutions in their sale to Carlisle Fluid Technologies...

By Mark Scott