Economic Development

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.

The Wisconsin economy is expanding at a somewhat sluggish pace and has struggled to gather any sustained momentum given declining factory activity, according to the State Monitor report released by BMO Capital Markets Economics.

New Berlin-based Nassco Inc. has acquired of Messner Inc. of Madison.
Messner began in 1941as the Refrigeration Equipment Co.

Blackthorne Partners Ltd., a Mequon-based private equity firm, announced it has acquired Berlon Industries, a Hustisford-based manufacturer of buckets and attachments for skid loaders, telehandlers and compact utility tractors.

U.S. Bancorp Fund Services LLC (USBFS), a Milwaukee-based subsidiary of U.S. Bancorp, announced it has agreed to acquire AIS Fund Administration (AIS), a provider of fund administration and related services to alternative investment managers.

Racine-based Johnson Outdoors Inc. announced it has closed on its acquisition of Jetboil Inc., the world's No. 1 brand of outdoor cooking systems.

Neenah-based Legacy Private Trust Company announced that Paul Kasriel, retired senior vice president and chief economist at Northern Trust Bank, has joined Legacy as a senior economic and investment advisor and consultant.

Cleveland, Ohio-based Cohen Fund Audit Services, which opened a Milwaukee office in September, has decided to make Milwaukee one of its hubs.

Heartland Financial USA Inc., the parent company of Madison-based Wisconsin Bank & Trust, announced it has closed on the purchase of First Shares Inc. (FSI), parent company of First National Bank of Platteville.

Grafton-based Kapco Inc., which is projecting 20-percent annual sales growth in each of the next several years, is launching a new initiative to expand its vendor base and augment its growth.