Economic Development

U.S. Bank, lead bank of U.S. Bancorp, announced it is acquiring Jacksonville, Fla.-based FSV Payment Systems, a prepaid card processing company known for its expertise managing a broad range of prepaid programs for companies, governments and other financial institutions.

The U.S. economy grew much faster in the third quarter than originally reported, as the Gross Domestic Product (GDP) was revised to 2.7 percent from the original estimate of 2.0 percent, according to the U.S. Commerce Department.

Milwaukee-based ARI Network Services Inc. announced it has completed the acquisition of the retail division assets of 50 Below Sales & Marketing Inc. of Duluth, Minn.

Waukesha-based MetalTek International has acquired Lakeland, Fla.-based industrial metal fabrication and machining company Specialty Maintenance and Construction Inc.

U.S. HealthWorks, one of the largest operators of occupational health care centers in the United States, announced it has acquired four health care centers and two worksites from Sensia Healthcare in Wisconsin.

Waukesha-based Generac Holdings Inc. announced it plans to acquire Latin American generator manufacturer Ottomotores UK Ltd. for $46.5 million.

Cudahy-based Lucas-Milhaupt Inc., a subsidiary of Handy & Harman Ltd., announced it has acquired Inmet Metal Processing Plant Ltd. of Gliwice, Poland.

The U.S. economy is showing positive signs of continued recovery with a variety of sectors witnessing significant growth, according to BMO Private Bank's December Outlook for Financial Markets Report.

Milwaukee-based private equity firm Mason Wells has acquired Whitehall Specialties Inc., a Whitehall-based cheese products manufacturer.

Milwaukee-based manufacturer Brady Corp. has sold its Varitronics LLC division to Minnesota private equity firm Renaissance Equity Partners. Milwaukee investment banking firm Emory & Co. advised Brady in the transaction.