MERGERS AND ACQUISITIONS Goldner Hawn, Minneapolis, a private equity firm, has sponsored a significant acquisition by its portfolio company Remmele Engineering, which acquired EL-Tronic Precision Inc., Coon Rapids, a provider of engineering and contract manufacturing services to the medical device industry.
Company news
January 31, 2008 at 3:44AM
NEW BUSINESS Lutheran Social Service of Minnesota, St. Paul, has formed a partnership with Target Corp., Minneapolis, in recognition of a $500,000 grant it received for the LSS Center for Changing Lives, a $27 million social service campus that will include a variety of social services as well as affordable apartments for 48 families who are struggling.
Global Traffic Technologies, St. Paul, a provider of traffic management and safety products that was formed from the Opticom priority control systems and Canoga traffic management businesses of 3M Co., Maplewood, has established a new headquarters at 7800 N. 3rd St. in Oakdale. The company also said that it won a default judgment of infringement in its U.S. patent infringement lawsuit against Tomar Electronics of Gilbert, Ariz.
NEW PRODUCT Digi International Inc., Minnetonka, introduced the Digi connect WAN 3G, an upgradeable third-generation wireless WAN router for primary and backup connectivity to remote sites and devices.
DEBT AND EQUITIES Beverage Creations Inc., Minneapolis, has begun trading under the symbol BVRG on the Pink Sheets.
PERSONNEL MOVES The TwinWest Chamber of Commerce, Plymouth, named Bruce Nustad president. Nustad previously was president and CEO of the Twin Cities North Chamber of Commerce.
BANKS U.S. Bancorp, Minneapolis, and TCF Financial Corp., Wayzata, lowered their prime rates to 6 percent from 6.5 percent at their subsidiary banks.
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The Minnetonka-based health insurer says the new contract “ensures continued, uninterrupted network access” to hospitals and clinics at the Bloomington-based health system.
