Economic Development

ABC Supply Holding Corp., the parent company of Beloit-based American Builders & Contractors Supply Co. Inc., has entered into a definitive agreement to redeem all of the shares held by its minority shareholders, an investor group led by Advent International.
Upon the closing of the transaction, 100 percent of the shares of ABC Supply will be controlled by the company’s co-founder, Diane M. Hendricks.
 

Northern Trust Corp. announced it has received no objections from the Federal Reserve Board to its proposed 2013 capital plan.
 

Pewaukee-based Waterstone Mortgage Corp. has unveiled a new logo as part of a rebranding campaign.
 

Milwaukee-based ARI Network Services Inc., a provider of software and data solutions, announced it has entered into definitive agreements with investors in a private placement of $4.8 million of its common stock at a purchase price of $1.50 per share.

Company owners interested in learning more about the process and prospects of buying or selling businesses are invited to attend the annual BizTimes M&A Forum, which will take place Friday, May 3, at the Pfister Hotel in downtown Milwaukee from 7:30 to 11:30 a.m.

Wisconsin's seasonally adjusted unemployment rate spiked to 7.0 percent in January, up from 6.7 percent in December, according to preliminary estimates released by the state Department of Workforce Development on Thursday.

Milwaukee-based Artisan Partners Asset Management Inc. held an initial public offering last week with shares priced at $30 on the New York Stock Exchange. The share price quickly rose to $36.

Glendale-based Johnson Controls Inc. is considering a divestiture of its automotive electronics business.

Racine-based Johnson Financial Group announced the appointment of Todd Shaffer as chief risk officer for the company.

BMO Private Bank announced it has hired Peter Koleske as vice president and private banker in Milwaukee.