DBusiness Daily Update: Ohio Company Acquires UP Paper in Manistique, and More

Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies.
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Giant UP Paper rolls
UP Paper, a producer of recycled kraft paper in Manistique, has been acquired by ProAmpac in Ohio. // Photo courtesy of UP Paper

Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies. To share a business or nonprofit story, please send us a message.

Ohio Company Acquires UP Paper in Manistique

ProAmpac, an Ohio-based provider of flexible packaging and material science, has acquired UP Paper, a producer of recycled kraft paper in Manistique in the Upper Peninsula. Terms of the transaction were not disclosed.

“The UP Paper team has done an incredible job building this great business,” says Greg Tucker, founder, vice chairman, and CEO of ProAmpac. “We look forward to building on their existing relationships and production expertise to serve our customer base with a broader suite of sustainable packaging products.”

UP Paper, established in 2016, is a leading North American producer of 100 percent unbleached recycled kraft paper for packaging applications. UP Paper and ProAmpac, together will leverage combined fiber and film-based materials science expertise to create environmentally friendly flexible packaging products. Pritzker Private Capital, management, and other co-investors jointly own ProAmpac.

“UP Paper will expand ProAmpac’s portfolio of recycled paper packaging products and extend the company’s presence in growth-oriented end markets,” says Kaitlyn Desai, principal at Pritzker Private Capital. “We look forward to continuing our strong support of ProAmpac through both organic and acquisition growth.”

DTE Energy, Consumers Energy Rate Low in ACSI Study of Energy Utilities

Consumers Energy in Jackson and DTE Energy in Detroit ranked 22nd and 25th, respectively, out of 28 of the nation’s energy utilities reviewed in the American Customer Satisfaction Index (ACSI) Energy Utilities Study 2023-2024, based in Ann Arbor.

Consumers Energy posted a scored of 72 (out of 100) and DTE Energy scored 71. The industry average is 75. Atmos Energy in Texas led the way with a score of 77.

“Providers appear to be improving the use of technology to interface with customers during outage periods and other complaint handling scenarios,” says Forrest Morgeson, associate professor of marketing at Michigan State University in East Lansing and director of research emeritus at the ACSI. “This is essential to improving overall satisfaction and is a significant reason why the industry is trending in the right direction.

“However, despite the current momentum, energy utilities will continue to face challenges beyond their control, like extreme weather events that cause longer power outages. Combined with inflation, this creates an environment where maintaining strong customer relationships will be critical as the industry pushes toward rebuilding and strengthening infrastructure.”

Overall, providers receive their strongest customer experience benchmarks for their ability to provide reliable electric service (82), mobile app quality (82), and mobile app reliability (82). Customers give strong marks for website satisfaction (80), and ease of understanding their bill (80).

Ally Bank Launches Home Grant Program Alongside New Eligibility Search Tool

North Carolina-based Ally Financial Inc., which has a large office in Detroit, announced that Ally Home, its residential mortgage lending arm of Ally Bank, will offer a $5,000 grant for eligible homebuyers in three major metro areas to apply toward down payment, closing, or other costs.

The grants will be available to homebuyers in Charlotte, Detroit, and Philadelphia within select markets with consideration to expand in the future.

To help consumers take advantage of this assistance, Ally is partnering with HouseCanary to provide consumers with tools to easily identify grant-eligible properties via the Ally ComeHome search portal.

“The homebuying process is overwhelming enough without the added complexity of identifying and securing the assistance you may need to afford a home in the first place,” says Glenn Brunker, president of Ally Home. “With the support of HouseCanary’s technical capabilities, we’re removing these hurdles by creating a one-stop-shop with all the tools, resources and products a homebuyer needs throughout their entire journey.”

For more information, visit here.

May Mobility Recognized on Fast Company’s 2024 list of the Most Innovative Companies

May Mobility in Ann Arbor has been named one of Fast Company magazine’s Most Innovative Companies in the Automotive category.

The recognition is a result of May Mobility’s efforts to revolutionize the autonomous vehicle industry with its differentiated business-to-government (B2G) and business-to-business (B2B) go-to-market strategy and its Multi-Policy Decision Making (MPDM) technology.

May Mobility’s self-driving technology leverages decades of artificial intelligence research. With the ability to imagine thousands of “what if” scenarios every second, MPDM can learn a driving strategy that is fine-tuned for the car’s current situation, optimizing safety even in unknown circumstances. This technology also enables May Mobility to scale to new markets and cities at a fraction of the cost and makes it possible to remove the safety operator from behind the wheel.

Bankjoy Named “Best Digital Banking Platform” in Annual FinTech Breakthrough Awards

Detroit-based fintech company Bankjoy has been named a winner in the 8th annual FinTech Breakthrough Awards for the category, “Best Digital Banking Platform.”

FinTech Breakthrough is an independent market intelligence organization that recognizes the top companies, technologies, and products in the global FinTech market today.

As the recipient of the “Best Digital Banking Platform Award,” Bankjoy exemplifies a commitment to innovation and has rolled out several new products and feature enhancements to its client base, according to the judges. Among the new digital tools and features the company has launched in the last 12 months include:

  • Online Account Opening 2.0
  • Business Banking 2.0
  • Real-time fraud monitoring and prevention
  • Built-in account aggregation
  • Online loan applications
  • Conversational AI and phone banking

“Bankjoy provides modern digital tools to financial institutions of all sizes, supporting their digital transformation efforts and keeping customers satisfied,” says Steve Johansson, managing director of FinTech Breakthrough. “Competition for deposits is fierce, and if the economic outlook remains positive, demand for loans will rebound, which means shoring up deposits.

“Bankjoy helps any size institutions plan and execute strategically planned marketing campaigns that attract and convert new account holders, as well as deepen relationships with existing account holders, generating sustained deposit growth.”

Innovative Learning Group in Troy Marks 20 Years in Business

Innovative Learning Group Inc. (ILG), a corporate training and performance improvement provider in Troy, is celebrating 20 years in business today.

With more than 200 clients across 35 diverse industries, ILG’s achievements over the past two decades include:

Creating award-winning solutions: ILG’s custom learning solutions have garnered national recognition with the company winning 15 Brandon Hall Group Excellence Awards and three Chief Learning Officer Learning In Practice Awards. ILG’s award-winning solutions blend engaging content, expert instructional design, and the latest learning technology to address specific performance needs in areas such as leadership, DEI, sales enablement, onboarding, systems, and compliance.

Embracing technology changes in the industry: Recognizing the changing landscape of learning technology, ILG has continually leveraged new technological tools from e-learning to mobile, augmented reality to virtual reality, and now artificial intelligence.

Building long-term client relationships: ILG works closely with its clients to gain an understanding of their unique business issues and designs and develops smart, practical learning solutions that work in all areas of the clients’ businesses to drive measurable results.

“Our relentless focus on performance, our unwillingness to stand still, and our commitment to client success have been instrumental in our success,” says Lisa Toenniges, owner and CEO of ILG. “I’m especially proud that the solutions we’ve created over the years have touched millions of people around the world, and I look forward to innovating and empowering individuals and organizations to achieve their full potential for many years to come.”

Michigan Good Food Fund Announces the Inaugural Seed Award Winners

The Michigan Good Food Fund announced an investment of nearly $150,000 in 11 food and farm businesses across Michigan as part of its inaugural Seed Awards.

The total awarded amount of $148,569 was distributed strategically across various regions of Michigan, with $52,569 allocated in southeast Michigan, $34,500 in west Michigan, $30,000 in northern Michigan, $17,500 in southwest Michigan, and $14,000 in south central Michigan.

Local recipients are:

  • Baobab Fare in Detroit
  • City Commons Cooperative in Detroit
  • Old City Acres in Belleville
  • Sanctuary Farms in Detroit

Michigan Good Food Fund is a statewide collaborative that invests in food and farm entrepreneurs, offering flexible financing, and tailored business assistance to support vibrant, equitable communities across Michigan.

The Seed Awards focus on supporting businesses dedicated to furthering racial equity, enhancing healthy food access, fostering job creation, and embracing resilient climate practices.

Local Author Gerry Boylan to Host a Book Launch Fundraiser to Benefit PAL

Local author Gerry Boylan is launching his latest book, “No Deals at the Pearly Gates,” at a fundraiser from 6-8 p.m. April 8 at The Corner Ballpark (1680 Michigan Ave.) in Deroit’s Corktown neighborhood. The event will benefit the Detroit Police Athletic League.

“No Deals at the Pearly Gates” is a memoir that captures the ascent by Boylan to the upper rungs of the business world. ​​The narrative is textured by “heart-tugging” tales melded into a rollercoaster of personal growth and professional accomplishments.

To celebrate the launch of the book, a panel of local business leaders will join Boylan for a conversation. Panelists include Michele Lewis Watts, Dan Varner, John Sznewajs, Naimish Patel, and Mike Tenbusch. The event will begin with an introduction from Anne Doyle and will be moderated by Maria Duey. Attendees will have the opportunity to engage in discussions and gain insights from the panelists.

Attendees will be treated to pizza provided by Michigan & Trumbull for a minimum donation of $20, which will include a free copy of Boylan’s book, with 100 percent of the proceeds of the event and book sales to benefit the PAL.

To RSVP, visit here. For more information about the author, visit GerryTales.com.