American supercenter chain Meijer will open its first two Meijer Grocery stores in southeast Michigan at Orion Township and Macomb Township on 26 January 2023. Spanning over 75,000-90,000 square feet each, the Meijer Grocery stores will feature produce and grocery, meat, bakery, full-service deli, pharmacy, health and beauty care, card and party and floral departments, […]
An investor group led by Littlejohn & Co., a US-based private equity company, has acquired a majority stake in Lipari Foods from alternative assets investment firm H.I.G. Capital in a transaction for an undisclosed amount. The Lipari family along with the company’s management, Sterling Investment Partners, and H.I.G. Capital will continue as minority investors in […]
Ford Motor Company has said that it has completed its exit from the Sollers Ford joint venture (JV) in Russia with Sollers OJSC by selling its 49% stake. The American automobile company said that its stake will be transferred to Sollers Ford for a minimal undisclosed value. It further stated that the company has the […]
Axar Capital Management said that it has acquired Pavonia Life Insurance Company of Michigan for an undisclosed price. Established in 1980, Pavonia Life Insurance Company has license for underwriting business in 49 states and the District of Columbia in the US as well as Canada. Mark Zesbaugh — Pavonia Life Insurance Company Executive Chairman said: […]
Highstreet Insurance Partners, a Michigan-based insurance agency, has acquired specialty insurance agency Paragon Underwriters for an undisclosed price. Also based in Michigan, Paragon Underwriters operates a program manager with an exclusive focus on law firms and attorneys. David Lipson — Paragon Underwriters President said: “We are excited to join Highstreet, and expand our reach, serving […]
Dayco, a Michigan-based supplier of engine products and drive systems for the automotive and aftermarket industries, has agreed to be acquired by private equity firm Hidden Harbor Capital Partners for an undisclosed price. Established in 1905, Dayco is engaged in research, designing, manufacturing, and distribution of essential engine drive systems as well as aftermarket services. […]
Vista Group International, a New Zealand-based film industry technology provider, said that Vista Cinema has wrapped up the $6.5 million acquisition of the assets of Retriever Software, a US cinema software company that trades as Retriever Solutions. Based in Denver, Retriever Solutions is engaged in providing fully integrated theatre management, web solutions, point-of-sale, and IT […]
American Water Works Company has wrapped up the previously announced $6 million sale of its utility operations in Michigan to Ullico’s infrastructure business, through its portfolio company, Triton Utilities. The divested Michigan utility operations of American Water Works consist of nearly 5,000 customer connections and a population of around 12,000 people in five townships across […]
First Merchants Corporation, a financial services holding company in Central Indiana, has signed a merger deal worth around $323.5 million with Michigan-based bank holding company Level One Bancorp. Post-merger, Level One Bank, the banking subsidiary of Level One Bancorp, will merge with and into First Merchants Bank, the banking subsidiary of First Merchants Corporation. Level […]
New York Community Bancorp’s previously announced $2.6 billion acquisition of Flagstar Bancorp has been approved by shareholders of both banks. The all-stock deal, which was announced in April 2021, is anticipated to be finalized during the fourth quarter. It remains to be subject to the meeting of some closing conditions and regulatory approvals. Sandro DiNello […]