A design firm in the region was acquired by a former Subway franchisee from Canada.
Ada-based 2B Studio, a concept-to-production firm that offers design, development and prototyping services, was recently acquired by Herman Grewal, founder of Innovation Studios, based in Canada, according to Grand Rapids-based Small Business Deal Advisors (SBDA), which served as the mergers and acquisitions adviser on the transaction.
Terms of the deal were not disclosed.
Founded in 1992 by Bruce Sienkowski, 2B Studio has eight employees and is based at 6420 E. Fulton St. in Ada.
The company serves clients primarily in the furniture and medical industries.
Sienkowski will continue as president of the company.
"(SBDA) brought many qualified buyers to the table, including Herman, who is a fantastic fit for the future of the business," Sienkowski said. "I'm thrilled with the outcome."
Grewal told SBDA he has had a lifelong passion for creativity and design. After several years in his family business — owning and operating Subway franchises — he decided he was ready to buy a business better aligned to his interests. He was immediately drawn to 2B Studio's capabilities and process expertise.
Scott Nicholson, the SBDA associate who served as M&A adviser on the transaction, provided advisory expertise and managed the preparatory, marketing, due diligence and negotiation phases of the transaction.
The Business Law Group in Grand Rapids served as legal adviser to 2B Studio.
Grand Rapids-based Rhoades McKee served as legal adviser to Innovation Studios.
Originally published in Grand Rapids Business Journal, April 13, 2020
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