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2024 ECONOMIC IMPACT AWARDS WINNERS DRIVE GROWTH IN GREATER DES MOINES
GREATER DES MOINES, Iowa, Oct. 29, 2024 /PRNewswire/ — The Greater Des Moines Partnership recently celebrated the winners of the 2024 Economic Impact Awards. Celebrating their 42nd anniversary this year, the Economic Impact Awards originated to recognize and honor companies that have recently made significant contributions to the economic vitality of Greater Des Moines (DSM) in terms of capital investment, job creation and facility expansion.
The 2024 Economic Impact Award winners are:
Bud & Mary’s Cannabis
Bud & Mary’s is Iowa’s first medical cannabis manufacturer and dispensary operator. In 2022, the company recognized that its current capacity wouldn’t be able to serve the needs of the growing medical patient base, so it embarked on a major expansion of the cultivation space, along with packaging, vault storage and office space. The project was key to making sure the company could uphold the obligation to provide safe, tested and legitimate THC projects from marijuana plants grown in its Iowa facility. Overall, the Bud & Mary’s team has invested more than $10 million into the facility. The company was able to triple its flowering cannabis space to more than 10,000 square feet and through this expansion grow its team by more than 15 people – with more to come. These jobs pay more than a living wage, with full benefits – something still not common in the cannabis industry. The company also transformed its space from an empty warehouse to first class facility that should sustain their business for years to come.
Hy-Vee, Inc.
Hy-Vee’s Cumming Distribution Center, opened in May 2024, represents Hy-Vee’s largest investment in its distribution operations in the company’s history, employs approximately 260 workers and offers more than 560,000 square feet of warehouse space to house Hy-Vee’s growing specialty foods offerings. The new facility includes not only warehouse space, but also showers and breakroom facilities for inbound freight drivers, a light duty truck shop and truck wash, specialized storage areas for aerosol and flammable products, and a temperature-controlled storage area for chocolate and candy products. The location on the south edge of Des Moines represents an ideal location for Hy-Vee in relation to its existing distribution facilities, its corporate headquarters and the crossroads of multiple highways and interstates.
Ihle Fabrications, LLC
Ihle Fabrications, LLC’s much needed building expansion of 78,000 square feet includes additional warehouse space, manufacturing space, employee breakroom and restrooms. Along with that was purchases of new equipment which consists of an overhead crane, automated steel loading system, welding area, racking for finished goods/augers/steel/tubes, several dock doors for shipping area, new rollers, a press brake and welding tables. The company also went from 38 employees in 2023 to 55 as of August 2024, with additional openings to be filled yet.
Maverik – Adventure’s First Stop
Maverik’s acquisition of Kum & Go (K&G) propelled the company to become the 12th largest c-store operator in the country, now serving customers in over 800 stores across 20 states supported by nearly 15,000 dedicated Team Members. The growth and integration of the two leading c-store brands is focused on delivering an elevated, differentiated, and adventurous c-store experience to even more customers from the Midwest to the West Coast, with K&G’s longstanding presence in the Greater Des Moines area bolstering Maverik’s ongoing expansion in the region. As a longstanding community partner and subsidiary of FJ Management, Maverik is proud to help fund the mission of Call to Action Philanthropies, which is dedicated to increasing access to food, education, and affordable housing. Since 2007, the organizations have invested nearly $100 million to support these causes in the communities where Maverik Team Members live and work, including nearly $15 million in affordable housing projects in West Des Moines.
Michael Foods, Inc.
Michael Foods is the nation’s largest processor of egg products, producing and distributing value-added egg and refrigerated potato products to foodservice and food ingredient customers. Michael Foods, a subsidiary of Post Holdings, is headquartered in Hopkins, Minnesota. Through a series of business building platforms and a comprehensive manufacturing and distribution network, Michael Foods also offers inspirational culinary and marketing solutions while delivering supply chain efficiencies, back-of-restaurant convenience and food safety. Michael Foods opened a 150,000 square-foot facility, which processes eggs and precooked egg products in 2019 in Norwalk. Recently, the decision to expand was made and will add approximately 132,000 square-feet and is expected to create an estimated 120 new jobs. Construction on the new project is in progress and will be completed in 2025.
Summit Products, Inc
From humble beginnings in a garage, Summit Products has grown into a company that now supplies virtually every coach manufacturer across the country. In 2022, they added a 72,000 square foot building to their manufacturing campus located in Altoona. Today, Summit Products produces a wide range of accessories for high-end motor coaches designed to enhance the appearance while adding grace. With several new product ideas always incubating, the executive team transforms new ideas into products that customers buy. This past year Summit Products moved the unique Matrix topper from prototype into production. The product is such a leap forward that they are expecting to add 125 jobs to support the demand. This helps everyone in the community and showcases Summit Products Inc. commitment to innovation.
Practitioner of the Year Award: Carla Eysink, IOM
Carla Eysink, IOM, is currently the Marion County Development (MCD) Director. Her unique combination of data analytics skills and creative thinking have provided innovation for Marion County’s approach to economic development. Under her leadership, the MCD was selected as one of the first MyEntreNet pilot counties as well as a recipient of the National Go-Getter Award through Synchronist for their rural business retention and expansion employer call program. Through these business retention and expansion efforts, projects in housing, childcare, exit planning and training have been developed. Eysink was awarded the 2004 Iowa Tourism Leadership Award for her innovative work in tourism as well as the 2023 iTIP Joe Tayler Vision Award and over 15 different Iowa Tourism Awards. Through the work of many leaders, Marion County has increased traveler expenditures from $15 million to $55 million.
Jennings Kallen Advisors Entrepreneurial Award: Hummingbirds
Hummingbirds offers a unique, people-powered marketing platform led by two Iowa women. It connects businesses seeking sustainable, authentic growth with hyper-local content creators. By tapping into these local creators’ trusted networks of friends and followers, Hummingbirds generates visibility and sales for brands in specific geographies, helping businesses increase revenue and their social media followings to upwards of 1400% and by 80% respectively. The team has now expanded to 18 cities across the Midwest and employs 12 full-time people in Iowa. These results are all pivotal indicators for small business and Iowa’s economic success. Hummingbirds has also raised more than $4.4 million in financing to date from multiple venture capital firms, including ISA Ventures, Next Level Ventures, InnoVenture Iowa and several Iowa angel investors.
Strategic Headquarters Investment Award: West Bank
West Bank’s strategic investment in a new corporate headquarters reinforces its deep roots in the City of West Des Moines. West Bank’s rich history spans over 130 years, making it the oldest business of any type to be founded and remain headquartered in West Des Moines. The new headquarters on Westown Parkway opened in April 2024 and is a point of pride where teams will work, collaborate, and continue to provide excellent service to its customers for years to come. By choosing a location in need of revitalization, West Bank is contributing to the growth and prosperity of the community, while also providing strong leadership and an investment model for other businesses to follow. The new headquarters will serve as a space for business development and give West Bank more opportunities to build strong relationships with community members and make a positive impact in West Des Moines.
About the Greater Des Moines Partnership
The Greater Des Moines Partnership is the economic and community development organization that serves Greater Des Moines (DSM), Iowa. Together with 23 Affiliate Chambers of Commerce, more than 6,500 Regional Business Members and more than 400 Investors, The Partnership drives economic growth with one voice, one mission and as one region. Through innovation, strategic planning and global collaboration, The Partnership grows opportunity, helps create jobs and promotes DSM as the best place to build a business, a career and a future. Learn more at DSMpartnership.com.
Contact:
Kyle Oppenhuizen
[email protected]
(515) 286-4972
Learn More About DSM USA
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PostEra announces expansion to $610M in their AI drug discovery collaboration with Pfizer
BOSTON, Jan. 7, 2025 /PRNewswire/ — PostEra, a biotechnology company specializing in machine learning for preclinical drug discovery, today announced an expansion of their partnership with Pfizer. The parties will launch a new Antibody-Drug-Conjugate (ADC) collaboration while also expanding their existing $260M AI Lab collaboration, which itself was built upon a successful Generative Chemistry partnership.
The teams will leverage PostEra’s AI platform, Proton, a pioneering innovation in generative chemistry and synthesis-aware design, to advance several programs. These new programs include small molecule therapeutics as well as ADCs, where PostEra will use Proton to optimize properties of payloads.
PostEra will receive an upfront payment of $12M and is eligible to receive additional milestone payments and tiered royalties on any approved products arising out of the collaboration.
Over the last 3 years, as part of the AI Lab, PostEra and Pfizer scientists have partnered closely to advance several small molecule programs. After Pfizer nominated the maximum number of programs, the teams have agreed to expand the collaboration to include additional targets with PostEra receiving additional upfront payment and eligibility for milestones and royalties.
“We’re pleased to significantly expand the use of PostEra’s Proton platform. This builds on peer-reviewed publications with Pfizer validating the real-world impact of AI-driven drug discovery in hitting preclinical milestones faster than anticipated,” said Alpha Lee, Chief Scientific Officer of PostEra. “This third partnership with our long-term collaborators at Pfizer underscores Proton’s depth and strength in making a meaningful impact on real-world drug discovery campaigns,” added Aaron Morris, CEO of PostEra.
About PostEra
PostEra is building a modern 21st century biopharma. We use Proton, our AI platform for medicinal chemistry, to accelerate the discovery of new medicines for patients. PostEra is advancing an internal pipeline while also advancing small molecule programs through partnerships with biopharma. We’ve closed over $1Bn in AI partnerships including 4 multi-year agreements with Pfizer and Amgen. PostEra is also leading an antiviral drug discovery center for pandemic preparedness, funded by one of the largest grants in NIH history.
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The partnership combines Radius’s strategic insights framework with Illuminas’s expertise in the technology and financial services sectors, thereby strengthening Radius’s capabilities across B2B and consumer markets.
NEW YORK, Jan. 7, 2025 /PRNewswire/ — Radius Global Market Research, a leading global insights and strategy firm, has announced its acquisition of Illuminas North America, a multidisciplinary research consultancy with headquarters in Austin, Texas. The acquisition strengthens Radius’s ability to deliver actionable insights for its global clients and enhances its expertise in supporting strategic insights needs of clients across industries.
Financial details were not disclosed.
Combining Expertise for Greater Insights
The acquisition integrates Radius’s Brand Growth Navigator framework with Illuminas’s strength in data science and deep expertise with technology and service-related industries. Illuminas is renowned for bridging gaps in customer understanding through tailored, data-driven solutions that illuminate optimal paths to success and drive growth for global brands.
“Illuminas’s proven capabilities in technology-focused research and their expertise in supporting B2B companies make them an ideal partner for Radius,” said Chip Lister, managing director of Radius Global Market Research. “This partnership enhances our ability to deliver insights that address critical business challenges for our clients, especially in industries where technology and innovation are key drivers of success.”
Expanding Capabilities for Clients Worldwide
Founded in 2002, Illuminas North America has built a reputation as a trusted partner for Fortune 500 companies and industry leaders. With deep expertise in technology, financial services, and dynamic global markets, Illuminas employs innovative and foundational research techniques, including quantitative and qualitative tools, to deliver insights that go beyond data to uncover compelling narratives.
“Our partnership with Radius will allow us to expand the reach and impact of our work,” said Jay Shutter, Principal and CEO of Illuminas. “By combining our customer-focused methodologies with Radius’s strategic insights framework, we’ll be better equipped to deliver actionable research that empowers our clients to make confident, informed decisions. This is a tremendous opportunity to enrich the value we provide to clients across the globe.”
Global Reach and Local Expertise
Illuminas North America’s offices in Austin, Texas, and Great Falls, Virginia, will enhance Radius’s ability to deliver insights worldwide. This acquisition follows Radius’s January 2025 acquisition of 7th Sense and its January 2024 acquisition of London-based Strive Insight, further extending the firm’s global footprint. Together, Radius and Illuminas will provide a seamless integration of advanced research tools and industry-specific expertise to support clients in achieving their goals.
About Radius Global Market Research
Founded in 1960, Radius is a full-service marketing research consultancy headquartered in New York City, with offices across the U.S. and globally. Radius supports brand growth through its Brand Growth Navigator framework, helping clients align insights with strategic priorities to maximize ROI. Its expertise spans industries, including technology, financial services, and consumer goods. Visit www.radiusinsights.com for more information.
About Illuminas North America
Illuminas is a strategic market research consultancy founded in 2002, specializing in bridging gaps in customer understanding. Headquartered in Austin, Texas, with an office in Great Falls, Virginia, Illuminas provides customized research solutions using proprietary methodologies to uncover insights for technology, financial services, and hospitality industries. The team combines quantitative and qualitative research methods to deliver insights that empower decision-making and drive business growth. Visit www.us.Illuminas.com for more information.
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Fintech PR
Fisher Investments Finalizes Strategic Partnership with Advent and ADIA with Completion of Minority Common Stock Investment
Fisher Investments’ Founder Ken Fisher Maintains Majority Controlling Interest
PLANO, Texas, Jan. 7, 2025 /PRNewswire/ — Fisher Investments (“FI”) announced that Advent International (“Advent”) and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) completed a previously announced minority investment in Ken Fisher’s namesake firm, Fisher Investments. The $3 billion common stock investment by Advent and ADIA values FI at $12.75 billion.
The transaction was part of Ken Fisher’s long-term estate planning and ensures FI’s long-term private independence, culture, growth evolution and devotion to exceptional client service. Ken Fisher remains active in his current role as FI’s Executive Chairman and Co-Chief Investment Officer and retains a majority of beneficial ownership and over 70% of voting shares in FI. FI CEO Damian Ornani continues to drive FI’s day-to-day operations and business strategy. In connection with the investment, David Mussafer, a Managing Partner at Advent, has joined the board of directors at FI, and Gabriela Weiss, a Principal at Advent, has joined as a board observer at FI.
As of 12/31/24, FI managed nearly $300 billion for over 170,000 clients globally, including over 130,000 US private clients and 200 of the world’s largest and most well-known institutional clients. This is the first outside investment in FI, with previous ownership solely among family and employees. There is no further FI investment transaction contemplated. The investment in common shares includes neither options nor non-common stock preferences and includes proportional voting to the investors’ beneficial ownership in FI.
Ken Fisher said, “While my health is excellent, this transaction is aimed dually at long-term estate tax and planning purposes should anything untoward happen to me. Advent and ADIA are truly exceptional partners who value us operationally and culturally, and are committed to preserving what differentiates FI in our industry.”
Damian Ornani, longtime FI CEO, said, “We welcome Advent and ADIA’s support of our mission to help more new clients around the world.”
David Mussafer said, “We are thrilled to cement Advent’s partnership with FI at a moment when there is a growing need for the smart, independent and personalized financial expertise that FI is recognized for providing for 45 years. We look forward to closely collaborating with Ken, Damian and the rest of the FI team to support the company’s continued growth, drawing on Advent’s deep expertise in helping financial services companies best capitalize on the opportunities ahead.”
J.P. Morgan Securities LLC and RBC Capital Markets served as joint financial advisors and Paul Hastings served as legal advisor to FI. Ropes & Gray served as legal advisor to Advent. Gibson Dunn served as legal advisor to ADIA.
About Fisher Investments
Founded in 1979, Fisher Investments is an independent, fee-only investment adviser. Fisher Investments and its subsidiaries manage nearly $300 billion across three principal businesses—Institutional, US Private Client, and Private Client International. Founder and Executive Chairman Ken Fisher wrote the Forbes “Portfolio Strategy” column for 32 ½ years until 2017, making him the longest running columnist in its history. He now writes monthly for the New York Post and discreet unique columns in native language, varying by country, in 26 major nations, spanning more countries and more total volume than any other columnist of any type in history. Ken has appeared regularly on major TV news like Fox Business and News, BBN Bloomberg and CNN International. Ken has written 11 investing and finance books, including four New York Times bestsellers. For more information, visit www.fisherinvestments.com.
About Advent International
Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $88.8 billion in assets under management* and have made more than 420 investments across 43 countries.
Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.
As one of the largest privately-owned partnerships, our 650+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.
To learn more, visit our website connect with us on LinkedIn.
*Advent assets under management (AUM) as of June 30, 2024. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.
About Abu Dhabi Investment Authority
Established in 1976, the Abu Dhabi Investment Authority (“ADIA”) is a globally diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. For more information, visit www.adia.ae.
Media Contacts
For Fisher Investments
Naj Srinivas
Executive Vice President, Corporate Communications
[email protected]
For Advent International
Leslie Shribman
Head of Communications
[email protected]
For ADIA
Garry Nickson
Corporate Communications & Public Affairs
[email protected]
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