Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies, including updates about the COVID-19 pandemic. To share a business or nonprofit story, please send us a message.
Nominations Now Open for ACG Detroit’s 2022 M&A All Stars Awards Program
The Detroit Chapter of the Association of Corporate Growth (ACG) is seeking nominations for its 7th Annual M&A All Star Awards program. The awards, for 2021 activity, include Deal, Dealmaker, Advisor, Investment Banker, or Rising Star in Michigan.
The deadline to submit is Jan. 27, 2022. Last year’s winners, cited for 2020 activity, include:
- Deal of the Year Over $50 Million in Revenue: Alta Equipment Group Inc.’s IPO SPAC Merger
- Deal of the Year Under $50 M in Revenue: Peninsula Fund VI Limited Partnership’s acquisitions of Center for Computer Resources and Business Communications Systems
- Advisor of the Year: Alexis J. Schostak of Dykema
- Advisor of the Year: Jeffrey A. Hoover of Howard & Howard Attorneys
- Investment Banker of the Year: Alex J. Conti of UHY Corporate Finance
- Rising Star, Matthew B. Feldman of Cascade Partners
- Dealmaker of the Year: O2 Investment Partners
- Lifetime Achievement: Justin G. Klimko of Butzel Long
Automotive and Plastics Industry Veteran Frank Macher Dies at 80
Former Continental Structural Plastics (CSP) Chairman and CEO Frank Macher has died. Macher, 80, retired from CSP in 2017, following the successful sale of the company to Teijin Limited.
Macher joined CSP (now Teijin Automotive Technologies) in 2010 and played a key role in turning the company into the successful and innovative Tier One supplier it is today. It was through his vision that CSP built up its R&D capabilities to develop the lightweighting technologies for which the company is known. He led the organization to global growth and significant profitability, culminating in the 2017 sale to Teijin.
CSP achieved the following milestones under Macher’s leadership:
- The 2013 move into a new world headquarters facility that includes a 29,000-square-foot R&D and Prototype Center staffed by Ph.D. chemists, chemical engineers, polymer engineers, materials scientists, and technicians.
- The 2013 acquisition of a 130,000-square-foot manufacturing and R&D facility in Pouancé, France, where CSP currently conducts most of its research in carbon fiber and other advanced technologies.
- The acquisition of five plants from Magna’s composites operations in 2014, further expanding CSP’s footprint to 14 facilities.
- The introduction of the revolutionary Tough Class A (TCA) Ultra Lite material in 2014.
- The 2014 formation of a 50:50 joint venture with Qingdao Victall Railway Group in Tangshan, China, to form CSP Victall.
Under his leadership, CSP won multiple industry innovation awards including Automotive News PACE Awards, JEC Innovation Awards, and multiple CAMX and SPE Innovation Awards. Macher himself also earned a number of industry distinctions, including Automotive News Newsmaker of the Year; the Society of Plastics Engineers Lifetime Achievement and Business Innovation Awards, and was a finalist for the EY Entrepreneur of the Year Award.
Macher’s career in the automotive industry spanned more than 50 years. He began his career at General Motors before moving to Ford Motor Co., where he served for 30 years before retiring in 1996 as a vice president and general manager of the Automotive Components Division. He came out retirement to become the president and CEO of ITT Automotive in 1997; served as chairman and CEO of Federal Mogul from 2000-2003; and chairman and president of Collins and Aikman from 2008 to 2009 before joining CSP in 2010.
In addition to his executive positions, Macher served on the boards of several organizations, including Martinrea, Achates Power, Decoma International, Federal Mogul, Tenneco, The Detroit Historical Society, and Detroit Renaissance.
In retirement, he was living in his lakefront home in Charlevoix and served in a variety of consulting roles. He is survived by his four children, 12 grandchildren, and two great grandchildren.
Shinola Unveils New Forged Carbon Monster Automatic Dive Watch
Shinola has unveiled its new Forged Carbon Monster Automatic Dive Watch, inspired by the Black Beach of northern Minnesota.
To create the Forged Carbon Monster’s case, carbon fiber is chopped into short pieces then mixed, melded, and molded with resin under intense heat and pressure.
Popularized by brands including Lamborghini and Callaway, forged carbon is five times stronger than steel, yet 50 percent lighter and seven times more resistant to stretching, making it a high-performance material. The Forged Carbon Monster features a 45mm case crafted from forged carbon with a stainless-steel core, a material that takes carbon fiber to the next level.
Applied polished gunmetal indices with blue C1 lume fill and cream-tipped hands provide easy legibility in the dark for divers. Priced at $2,995, the Forged Carbon Monster comes in a special edition gift set with a black rubber strap and woven orange nylon strap with a leather backing.
High Life Farms Launches Popcorn Small Buds Product Line in Michigan
Chesaning-based cannabis company High Life Farms is making Popcorn Buds Pre-Packaged Flower, a line of premium small buds featuring vintage, carnival-style packaging, is now available across Michigan dispensaries.
Soft-launched at the end of December 2021, Popcorn Buds Pre-Packaged Flower joins High Life Farms’ wide range of flower products cultivated and manufactured in the company’s facilities.
The launch of Popcorn Buds comes on the heels of several other recent releases from High Life Farms as the company puts a renewed focus on pre-packaged flower.
“With new flower options such as Popcorn Buds and pre-packaged favorites such as Alien OG and Kush Mints, the cultivation team at High Life Farms is focusing our efforts toward crafting higher-end, premium strains tiered to meet the varying needs and desires of our diverse customer base,” says Vinnie Celani, co-founder of High Life Farms.
All of High Life Farms pre-packaged flower is available in Grove Bags featuring TerpLoc Technology, which utilizes a blend of several film elements to create the optimal cannabis climate inside every package and protect product quality.
For more information, visit here.