MERGERS AND ACQUISITIONS Ecumen, Shoreview, has purchased the Seasons of Maplewood, a 150-unit senior housing facility. The facility will be renamed Ecumen Seasons of Maplewood and is expected to open this fall. Ecumen also completed construction on a 108-unit expansion to its Meadows of Worthington facility that includes independent living, assisted living and Alzheimer's care units.
H.B. Fuller Co., Vadnais Heights, has completed the acquisition of Revertex Finewaters Sdn Bhd in Malaysia from Revertex (Malaysia) Sdn Bhd. The company announced its intention to acquire the industrial adhesives business in March of this year. The results of this business will be included in the company's Asia Pacific operating segment going forward.
IntriCon Corp., St. Paul, has sold RTI Electronics Inc., Anaheim, Calif., one of its non-core electronics businesses, to an affiliate of Shackleton Equity Partners, a Los Angeles-based private equity group. Terms were not disclosed. IntriCon makes body-worn medical and electronics devices.
NEW PRODUCTS Target Corp., Minneapolis, said it will roll out Amazon.com's Kindle reading device in its stores nationwide on Sunday.
NEW BUSINESS Ameriprise Financial Inc., Minneapolis, completed the first of three funding cycles for 2010, awarding more than $1.1 million to nonprofit organizations. Seventy-two grants were made under the company's three funding platforms: meeting basic needs, supporting community vitality, and volunteer-driven causes. Among the organizations receiving grant money was Funding Hearts & Hammers-Twin Cities, an organization that enables seniors and physically disabled homeowners to continue living independently in their own homes.
DEBT AND EQUITIES Christopher & Banks Corp., Plymouth, declared a quarterly cash dividend of 6 cents per share, payable July 21 to shareholders of record on July 7.
Nortech Systems Inc., Wayzata, has entered into a new financing agreement with Wells Fargo Bank. Nortech Systems entered into a third amended and restated credit and security agreement with Wells Fargo Bank and its Business Credit operating division, which provides a $12 million line of credit through May 31, 2013, and real estate term notes maturing on May 31, 2012.
