Mergers & Acquisitions

Mergers & Acquisitions

Michigan firm acquires Lake Shore Wisconsin Corp.
Troy, Mich.-based Talmer Bancorp Inc., parent company of Talmer Bank and Trust, today announced that it has successfully completed its merger with Lake Shore Wisconsin Corp. of Glenwood City in northwestern Wisconsin.
Prior to closing, Lake Shore spun off its wholly-owned subsidiary, Hiawatha National Bank, to its shareholders. Lake Shore’s remaining assets consisted of cash and cash equivalents, of which, Talmer retained approximately $26 million following the merger. Many of Lake Shore’s shareholders elected to receive shares of Talmer stock in the transaction and are now shareholders of Talmer.
Two members of Lake Shore’s leadership team, Gary Collins and Hugh McLean, have taken management positions with Talmer Bank.
"This transaction is significant on two fronts: First, Talmer received $26 million of additional equity capital, which is an encouraging endorsement of our growth and acquisition strategy; and second, we have two great veteran Midwestern bankers in Gary and Hugh permanently on our team. Their proven track records, leadership skills and experience in the type of relationship-driven, community-oriented approach we embrace can’t be underestimated, especially as we continue to prudently explore expansion opportunities throughout the Midwest," said David Provost, president and chief executive officer of Talmer.

Cleary Gull sells Michigan company
Cleary Gull of Milwaukee acted as the exclusive financial advisor to Roll-Rite LLC in a recent acquisition. Alger, Mich.-based Roll-Rite, an automated tarping manufacturer, was acquired by private investment firm Capital Partners of Greenwich, Conn.
Roll-Rite’s products are used to cover trucks in the construction, waste and agriculture industries. A sale price was not disclosed.
The combination of a strong management team, end market dynamics and trends and its product portfolio made Roll-Rite an attractive company, said Ron Miller, managing director at Cleary Gull.
“A lot of companies got hit pretty hard in ‘09 and they just have roared back,” he said.
New York firm acquires Wright Business Solutions
Farmingdale, N.Y.-based Robocom Systems International announced today it has acquired Wright Business Solutions, based in Lake Geneva.
The transaction marks Robocom’s second acquisition in 2011 of supply chain execution software companies and its third in the past four years.
Fred Radcliffe, president of Robocom said, "Wright’s expertise of supply chain execution solutions in the publishing industry and third party logistics as well as its proven SaaS solution will be terrific additions to the Robocom solution portfolio. Wright’s strong products and customer base will allow Robocom to continue to expand its product offering.”
Bryan Wright, who founded his company in 1997, will join Robocom as vice president.
"We believe Robocom’s labor management, voice directed technology and transportation solutions will be of great value to the Wright customers. This is a terrific step forward for both companies as well as the Robocom and Wright customers,” Wright said.
“Adding the Wright Team and products to Robocom will result in stronger solutions and deeper expertise for our customers,” Radcliffe said.

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