Economic Development

Baird Capital Partners (BCP), the U.S.-based buyout fund of Baird Private Equity, announced that its portfolio company American Auto Auction Group LLC (AAAG) has acquired Badger State Auto Auctions Inc.

The U.S. stock market continued to recover ground today, as Federal Reserve Chairman Ben Bernanke told the Joint Economic Committee of Congress that the Fed stands ready to act to protect the financial system and the economy in the event that financial stresses from the European crisis escalate.

Modest gains were posted in metro area economic indicators for April as 12 of 23 monthly indicators tracked by the Metropolitan Milwaukee Association of Commerce (MMAC) improved from year-ago levels.

Racine-based Modine Manufacturing Company, a diversified global leader in thermal management technology and solutions, has signed a definitive asset purchase agreement to acquire privately held Geofinity Manufacturing of Surrey, British Columbia.

Tom Lange has been promoted to bank manager at Waukesha State Bank’s Silvernail Road office in Pewaukee.

Industry experts will provide insight on the mergers and acquisitions market in Milwaukee at the BizTimes M&A Forum on Friday, June 8, from 7:30 a.m. to noon, at the Pfister Hotel in Milwaukee.

Franklin-based Hypneumat Inc. has been purchased by John Weber, a Milwaukee-area business executive.

Robert W. Baird & Co. Inc. has named Glen Hackmann its 2012 Brenton H. Rupple Citizenship Award recipient.

Economists at the National Restaurant Association say that Wisconsin’s restaurant industry will hire 16,000 employees this summer, increasing their workforce by 9 percent between March and August to handle the busy summer season.

The Wisconsin Manufacturers & Commerce Economic Outlook Survey in May found that 51 percent of the WMC’s members said they will be expanding in Wisconsin over the next two years.