Investor acquires construction firm
A local construction firm has been acquired by an out-of-state investor.
Mike Coyne, sole partner of the investment firm ASA Group, which is based in Granger, Indiana near South Bend, acquired majority ownership of Grand Rapids-based Bazzani Building Company. The deal closed on April 22.
Guy Bazzani, founder of Bazzani Building Group, is the minority owner and will remain on the firm's board. Bazzani President Peter Skornia will remain in his current role.
Bazzani Building Group will continue to operate primarily in West Michigan for the immediate future, Coyne said, adding he would like to expand into the South Bend area later.
Coyne has also stepped into the role of CEO of Bazzani, the Business Journal previously reported.
He has over 30 years of leadership experience in transportation, health care services, logistics and mergers and acquisitions, with deals ranging from $2 million to $750 million.
Coyne said Bazzani’s investment in the “triple bottom line” philosophy — people, planet and profit – was one of the major factors that attracted him to the firm and that focus will remain the same under his leadership.
“I think what you might see in a little while is some new projects coming on board maybe at a little faster pace,” Coyne said.