Banking & Finance

Several projects that grew out of research at the University of Wisconsin-Milwaukee have received seed funding from the University of Wisconsin-Extension and the Wisconsin Economic Development Corp.

First Business Financial Services Inc. has agreed to acquire Aslin Group Inc., parent company of Kansas City-based Alterra Bank, for $30.1 million.

Milwaukee-based Baird Capital has sold its portfolio company, Charleston, S.C.-based American Auto Auction Group, to Detroit private equity firm Huron Capital Partners.

Jason Stamm has been named central region president for The Private Client Reserve of U.S. bank. He succeeds Mike Ott, who was recently named president of The Private Client Reserve.

Wauwatosa-based insurance software solutions firm Zywave Inc. has acquired FutureOffice Network and the assets of its parent company, Elm Grove-based Davidson Marketing Group.

First Business Financial Services Inc. has agreed to acquire Aslin Group Inc., parent company of Kansas City-based Alterra Bank, for $30.1 million.

Milwaukee-based Rexnord Corp. reported fiscal fourth quarter net income of $39.9 million, or 39 cents per share, up from $23.9 million, or 24 cents per share, in the fourth quarter of 2013.

Milwaukee-based Brady Corp. today reported fiscal third quarter net earnings of $24.1 million, or 39 cents per share, up from $4.2 million, or 42 cents per share, in the third quarter of 2013.

The Bon-Ton Stores Inc., which has dual headquarters in Milwaukee and York, Pa., today reported a first quarter net loss of $31.5 million, or $1.63 lost per share, compared to a net loss of $26.6 million, or $1.41 lost per share, in the first quarter of 2013.

Menomonee Falls-based Idea Factory Inc. has been acquired by Swedesboro, N.J.-based Ginsey Home Solutions and will close its local operations in the transaction.