Based on the financial results as of March 31, the combined company will have pro forma total assets of $7.5 billion, deposits of $6.3 billion and loans of $4.9 billion, inclusive of Nicolet’s prior acquisition announcement of Mackinac Financial Corp. on April 12.

“Our collective founder-entrepreneurial mindset makes for a distinctive culture that resonates with our employees and customers. One of the goals of every acquisition is to find better ways to serve communities. This partnership is an intentional, strategic move to become the premier agriculture lender throughout Wisconsin,” said Mike Daniels, president and CEO of Nicolet.

“Nicolet is a like-minded partner who shares our focus on people, community and serving the customer. With the added scale and capital of Nicolet, this partnership will rapidly accelerate our ability to serve existing customers and build new relationships. I am very optimistic about where we can go as a combined company. We remain committed to the markets and industries we serve, especially the dairy sector, and above all, keeping banking local,” said Tim Schneider, president of County.

The boards of directors of both companies unanimously approved the transaction. It is subject to both County and Nicolet shareholder approval, regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter of 2021.

Under the terms of the merger agreement, Nicolet will acquire County with Nicolet being the surviving corporation. In the merger, County shareholders have the right to receive for each share of County common stock, at the election of each holder and subject to proration, either cash of $37.18 per share of County common stock or 0.48 shares of Nicolet common stock.

County shareholder elections will be prorated to ensure the total consideration will consist of approximately 20 percent cash and approximately 80 percent Nicolet common stock. Based on Nicolet’s closing price of $71.75 as of June 21, the merger consideration is valued at approximately $219 million.

Nicolet will appoint a member of County’s current board of directors to the boards of directors of Nicolet and Nicolet National Bank upon the completion of the transaction. Post-merger, Investors’ Schneider will join the senior management team at Nicolet as senior vice president, agriculture lending manager.

Upon consummation of the transaction, Investors’ existing branch at 960 Hansen Road, Green Bay, is expected to close and consolidate with continued service out of the legacy Nicolet office at 2363 Holmgren Way, Green Bay. All other Investors’ branches are anticipated to become Nicolet branches.

Workhouse Group was a finalist for the contract, which would be worth billions depending on how many vehicles the Postal Service needs. Oshkosh Corp. won the contract in February to build 50,000 to 165,000 delivery vehicles over the next decade.

Oshkosh Corp. has filed as an intervenor in the case against the Postal Service, as it will be affected by the case’s outcome.

In addition to New North, the Greater Green Bay Chamber and the Young Enterprising Society, the program’s creators, will run Blueprint Green Bay. The seed accelerator program will be based at the Urban Hub in Green Bay. The training initiative targets businesses owned by people of color, women and veterans.

“Partnering with the chamber will assist us in scaling the initiative across our region,” said Barb LaMue, president and CEO of New North. “We also thank WEDC for its support of New North, Inc. to provide seed capital to the founders upon successful completion of the program.”

The Blueprint program was created by the Young Enterprising Society, which is based in Milwaukee.

Just over a year ago, FMM won a contract worth up to $5.5 billion to build 10 frigate ships for the U.S. Navy.

Vandroff is a retired Navy captain and has been with Fincantieri Marine Group since early in 2021. He previously was the senior vice president of business development.

“Our company’s continued growth afforded us an opportunity to expand our senior leadership team and to better organize to exceed our customer’s needs,” said Dario Deste, CEO of Fincantieri Marine Group.

Vandroff reportedly spent over 30 years in the Navy and has a bachelor of science in physics from the United States Naval Academy and a master of science in applied physics from Johns Hopkins University.

Allman had run FMM since 2014. To learn more about FMM, please read our June cover story.

U.S. Venture Inc. announced Academy Award-winning actor, United Nations Messenger of Peace and philanthropist Charlize Theron will be this year’s celebrity guest at the U.S. Venture Open. The funds raised at the annual event, being held in person on Wednesday, Aug. 11, aim to end poverty in Northeast Wisconsin.

While Theron may be most recognized for her iconic film roles in “Monster,” “The Italian Job,” “Bombshell,” and “Mad Max – Fury Road,” she is equally known for her activism and philanthropic endeavor to create the Charlize Theron Africa Outreach Project. CTAOP champions young people living in Africa by investing in organizations that prioritize and advance the health, education, community support of youth, and supporting their ability to keep themselves safe from HIV and reach their full potential.

“We’re grateful for the generous support of the U.S. Venture Open. Their commitment to ending poverty is truly inspiring and so aligned with the values of CTAOP. We are honored to be a beneficiary of their philanthropic efforts, and the support will strengthen CTAOP’s work to improve the lives of youth in Africa,” said Ashlee George, executive director of CTAOP.

Theron’s dedication to youth in Africa is one of the many reasons U.S. Venture leadership pursued her involvement in the U.S. Venture Open. Since 2001, the U.S. Venture/Schmidt Family Foundation and team members have supported VICODEC, a K-8 school in Kenya, along with collaborative partner Kenya Works. Through charitable giving, child sponsorship, employee trips and leadership support at VICODEC, U.S. Venture recognizes the work Theron and CTAOP are doing to invest in the next generation of leaders in Africa.

“U.S. Venture is committed to eliminating the root causes of poverty, and this event is truly a community-wide endeavor,” said John Schmidt, CEO and president of U.S. Venture, Inc. “We are proud to welcome Charlize Theron whose foundation is making an impact to help millions of African youth and people living with HIV.”

Theron will make a personal appearance at the U.S. Venture Open and be interviewed at the dinner reception held for registered guests that evening at Van Abel’s of Hollandtown.

Since 1986, the nation’s single-largest, one-day charity golf outing, $51 million has been raised and $41 million granted through the Basic Needs Giving Partnership to non-profits that end poverty with health and education being a large focus.

Charles Lepper

Chris Matheny

The Fox Valley Technical College presidential search committee has selected two candidates to recommend to the board of trustees in its search for a new president. Board chair Patty Van Ryzin announced the finalists today.

Charles Lepper, Ph.D., is vice president for student affairs and enrollment management at Salt Lake Community College in Salt Lake City, Utah. He previously served as vice president for student affairs at Tidewater Community College in Norfolk, Va. Lepper earned a Doctor of Philosophy with an emphasis in educational administration from Indiana State University in Terre Haute, Ind.; a Master of Education with an emphasis in secondary, higher and adult education from Grand Valley State University in Allendale, Mich.; and a bachelor of arts in human resources and personnel management from Ball State University in Muncie, Ind.

Christopher Matheny, Ph.D., is executive vice president and chief academic officer at Fox Valley Technical College. He previously served as vice president for instruction and chief academic officer at Fox Valley Tech. Matheny earned a Doctor of Philosophy in educational leadership and policy analysis from the University of Wisconsin-Madison; a Master of Business Administration with a concentration in organization and management from Illinois Institute of Technology in Chicago; and a bachelor of arts in psychology from DePaul University in Chicago.

“We would like to express our gratitude to the college community for their continued support in this process to identify who will be our next president,” Van Ryzin said. “Members of the presidential search committee have put in an exceptional effort and I want to personally thank them for their contributions.”

Each candidate will be at Fox Valley Technical College the week of June 14, where they will meet with college leadership, tour campus, interview with the full board and participate in forums.

Dr. Susan May, who has served for 13 years as president of the college, will retire effective July 31.

“The Economic Development Administration is pleased to support the Menominee Indian Tribe of Wisconsin’s efforts to build economic development strategies designed to boost coronavirus recovery and response efforts,” said Molly Ritner, EDA chief of staff. “This investment will allow the tribe to hire staff, conduct an economic development assessment of the Menominee Reservation and create a plan to respond to the coronavirus pandemic and future economic disruptions.” 

This project is funded under the CARES Act, which provided EDA with $1.5 billion for economic assistance programs to help communities prevent, prepare for and respond to the coronavirus.

A pop-up shop is a temporary retail space that allows entrepreneurs to test the advantages and disadvantages of a retail location while also providing affordable market insight to business owners considering a brick-and-mortar store.

The city is looking for entrepreneurs looking to open a pop-up shop during the 2021 holiday season. Click here to learn more about to apply and to find the application form. The deadline to apply is June 30.

For more information about the Sheboygan County Economic Development Corp.’s entrepreneurial services, email info@SheboyganCountyEDC.com or call (920) 452-2479

The funds from the Brownfield Site Assessment Grant from the Wisconsin Economic Development Corp. bring the total of WEDC funds dedicated to the River Point District to $524,550.

The newest funds will cover soil and groundwater investigation and reporting expenditures necessary before the state Department of Natural Resources allows redevelopment to move forward. The assessment should be completed by the end of the year.

Property development plans include the installation of streets, utilities, lighting, and possible trails and streetscape. The largest of the planned projects is an 87-unit apartment project that will be six stories. Another planned project is the relocation and expansion of PetSkull Brewing, which is expected to open in July. A new restaurant and recreational rental establishment also are planned for the development.

The River Point District consists of a 20.1-acre peninsula bound to the north, south and west by the Manitowoc River. The redevelopment of this former industrial peninsula has been part of the city’s vision for over 20 years.

Five entrepreneurs/innovators will receive a $1,000 grant, with a panel of judges assessing the ideas and selecting one to receive a $10,000 grand prize. The winner will be announced in December.

Anyone with a business idea, product or service they want to drive forward can apply and learn more about the Business Challenge at AccelSC.com.

“Producing one patent every three days, Sheboygan County is an epicenter of innovation and industry,” said Don Hammond, chair of the Sheboygan County Economic Development Corp. Foundation. “We already have the most industrious entrepreneurs in the country, and it is our mission to accelerate that growth.”

Accelerate Sheboygan County is a public-private effort to provide outreach and engagement solutions to attract, retain and encourage business resiliency and a more diverse and inclusive community that is essential to growth.