UMB Fund Services (UMBFS), a Milwaukee-based division of UMB Financial Corp., will renovate its 72,000 square foot office at 803 W. Michigan St. in downtown Milwaukee this summer. "We're looking to grow our business and reconfigure our offices to become more efficient and have better flow," said John Zader, chief executive officer of UMBFS. "Our offices here were kind of piecemealed together over the years."

The Milwaukee division is one of UMB's fastest-growing divisions, Zader said. It currently has 160 employees in Milwaukee, and the local office will grow to about 180 workers by the end of the year if it meets its projections. The renovation includes new exterior signage, a new rooftop deck, new carpet and paint, upgraded audio-visual systems with wireless audio and video conference, and reconfigured and upgraded work stations. With the renovation project, the company will be able to accommodate up to 250 employees. UMB Financial Corp. is headquartered in Kansas City and is traded on the NASDAQ exchange under the symbol of UMBF.

UMBFS serves mutual funds, offering accounting, administration, cash management, distribution, custody and transfer agency. It also offers administrative, accounting and investor services to hedge funds. Most of the funds that UMBFS serves have $100 million to $10 billion in assets and as many as 100,000 shareholder accounts. To help fuel its growth, UMBFS launched a new service named Total Distribution. The new service helps mutual funds and other UMBFS clients track their most profitable financial intermediaries and best prospects, Zader said.

"This allows (clients) to see who is actually selling their funds and what they are doing with the funds," he said. "We're using the technology so our clients can target their best prospects for growth." Total Distribution uses AccessDiscovery, a new product developed for UMBFS by Access Data, a provider of data management services for mutual fund companies and financial intermediaries, and Discovery, a database of financial intermediary information. AccessDiscovery and the Total Distribution offering were developed based on what UMBFS was hearing from clients, Zader said.

"We're the only service provider that will offer end-to-end distribution for our clients and their prospects," he said. "Everybody else that does administration, accounting and custody doesn't have a product like this to offer now. I think it will help us grow our business and faster than we could do without it."

MW Bank will become Securant Bank & Trust
MWBank announced it has adopted a new name, Securant Bank & Trust. The name change is accompanied by a new identity. Both will be launched in mid-June. The new name and identity are designed to convey the institution's 94-year-old brand personality, as well as its future vision. "We are remaining true to our commercial banking core and using that foundation to pursue aggressive growth plans," said Michael Peters, executive vice president and chief operating officer of the bank. "We're adding branches, services and employees. The identity change reflects a substantive shift in how we are going forward."

Securant's headquarters are in Menomonee Falls, and the company operates a branch in Milwaukee at 6001 W. Capitol Drive. The name Securant Bank & Trust reflects both new perspectives by referencing trust services and eliminating any geographic associations. MWBank had evolved from Milwaukee Western Bank. One change on the horizon for the bank is the addition of wealth management services. Another is planned expansion in southeastern Wisconsin and possibly beyond.

"We are here to find solutions that meet our clients' needs," said Michelle Luckiesh, bank marketing manager. "And that means we first seek to understand what our clients are trying achieve and then we figure out a way to make it happen." The new name and identity were created by Milwaukee-based Red Brown Kle' Marketing Communications. Red Brown Kle' is also working with the bank to roll out the new identity.

Regal Beloit acquires Chinese firms
Regal Beloit Corp. has acquired Joyce Court Holdings Ltd. and Grand Delight Investments Ltd., sole shareholders of Wuxi Hwada Motor Co. and Wuxi New Hwada Motor Co. in Wuxi, China. Hwada is a leading designer and manufacturer of Integral IEC and NEMA electric motors, which are used in various industrial applications such as compressor, pump, paper and steel processing, and power plants. The purchase price was $27.6 million in cash and the assumption of approximately $8 million in net liabilities. Additionally, under the terms of the transaction, the company will pay to the seller up to $8.5 million received by the company in the future upon the sale of certain real property rights owned by Hwada. Approximately 50 percent of Hwada's product sales are in the Chinese industrial markets. The other half are exported to Europe, the United States and Southeast Asia. The business will be reported as part Regal Beloit's electrical segment. The acquired businesses are expected to add approximately $75 million to $80 million in sales for the Beloit-based company. Henry Knueppel, chairman and chief executive officer of Regal Beloit, said, "We are very excited to announce the acquisition of Hwada. This is another significant, strategic-focused expansion of our industrial business in high growth markets. The acquisition represents our first wholly owned industrial motor facility in China. Hwada is currently one of the top industrial motor companies in China. It enjoys a reputation of product excellence and rapid growth and comes with an excellent management team."

Growing Pewaukee company acquires Milwaukee painting firm
Pewaukee-based Facility Services Group Inc. has acquired the assets of Performance Painting LLC, more than doubling its current commercial/industrial painting capabilities in southeastern Wisconsin. Performance Painting's Milwaukee office and warehouse at 223 S. 2nd St. will remain open, but will become a Facility Services Group office. Six Performance Painting employees will be retained by the merged company. Facility Services Group acquired Performance Painting from Michael Wolters. Financial terms of the transaction were not disclosed. "The requests for painting and related services from building owners and property management companies has grown significantly," said Dean Puccetti, president of Facility Services Group. "Expanding our commercial painting capabilities responds directly to our customers' desire to improve and maintain their properties.” Facility Services Group provides building improvement solutions to commercial and industrial facilities throughout southeastern Wisconsin with expertise in interior and exterior renovations. Wendee Puccetti of Facility Services Group said, "We brought six employees into Facility Services Group and did not eliminate any. In fact, we plan to add more as we grow this division."

Rockwell to acquire California software company
Milwaukee-based Rockwell Automation Inc. has reached a definitive agreement to acquire Incuity Software, Inc., a privately held company that is a leading supplier of Enterprise Manufacturing Intelligence (EMI) software. Headquartered in Mission Viejo, Calif., Incuity manufactures software that provides real-time intelligence for business decision support to improve operations and reduce production waste by providing valuable management insight into a company's operations. Financial terms of the transaction were not disclosed.

"This acquisition is a key milestone in the continued expansion of our FactoryTalk software suite," said Kevin Roach, vice president of Rockwell Software. "Their newest software, IncuityEMI 2.6, easily integrates many disparate information sources from production operations and other enterprise systems. IncuityEMI 2.6 delivers unique insights into enterprise performance and key operational metrics, and empowers personnel to drill down and analyze the root causes associated with manufacturing problems. Combining Incuity's capabilities with the FactoryTalk integrated production management and performance suite will create tremendous value for our customers."

Doug Lawson, CEO, Incuity Software, said: "Getting enterprise manufacturing information into the hands of decision-makers now is a vital business need. IncuityEMI is the most innovative and exciting application in the market for this purpose. This acquisition combines our business with the resources, technology, customer base and global delivery capabilities of Rockwell Automation and will be good for our customers. Rockwell Automation is the perfect partner for Incuity."

Magnetek to sell off division
Magnetek Inc. plans to sell its Telecom Power Systems business, which is based in Menomonee Falls. The division, which generated approximately $16 million of Magnetek's total sales of $103.8 million in fiscal 2007, employs about 25 people in Menomonee Falls and another five people in a sales office in Dallas, Texas. Magnetek said it will focus its efforts on enhancing shareholder value through investment in and growth of its core power control and systems businesses, as well as strategic acquisitions in its product lines serving the material handling, elevator, and alternative energy industries. "Magnetek's strategy is to focus on our core businesses where we have growth opportunities and a sustainable competitive advantage," said Magnetek chief executive officer David Reiland. As previously announced, Magnetek recently acquired the assets of Enrange LLC of Canonsburg, Pa., a wireless control manufacturer providing radio remote controls for the material handling, industrial, hydraulic and rock mining industries. Beginning with the fourth fiscal quarter, Magnetk will account for the Telecom Power Systems business as a discontinued operation.

Bucyrus pursues joint venture in China
South Milwaukee-based Bucyrus International Inc. has entered into a preliminary framework agreement with Huainan Mining Industry (Group) Co. Ltd. to seek to establish a joint venture in the Huainan mining area of the Anhui Province in the People's Republic of China. The preliminary agreement contemplates Bucyrus owning a controlling interest in a joint venture that would involve the building of a new state-of-the-art manufacturing facility in the Huainan mining area of China that would initially manufacture belt systems and armored face conveyors for resale on a preferential basis to Huainan Mining, as well as to other third parties in China and elsewhere.

It is possible that the joint venture could manufacture and sell additional underground mining equipment as well. Both Bucyrus and Huainan Mining would contribute an undisclosed amount of cash, as well as other assets and personnel, to the joint venture. Bucyrus president and chief executive officer Tim Sullivan said, "The joint venture which we hope will result from this preliminary framework agreement will benefit both Bucyrus and Huainan Mining. The first step in a resulting joint venture will extend our market coverage and provide us with a low cost manufacturing base in China. Huainan Mining will benefit from the higher technology of our products, and the region will gain through the development of a high technology manufacturing base in Anhui Province. There is also the future potential for exports using our international sales network."

Badger Meter files application for listing on the 'The Big Board'
Badger Meter Inc. has filed an application to list its common stock on the New York Stock Exchange (NYSE).
Pending approval of its application, Milwaukee-based Badger Meter anticipates that its stock will begin trading on the NYSE in mid-June, under its current symbol "BMI." Until that time, Badger Meter's shares will continue to trade on the American Stock Exchange.

"We are honored to be eligible to join the many leading companies on the Big Board. Badger Meter has enjoyed a 37-year relationship with the American Stock Exchange that has served us well and has helped us to grow as a public company. However, with the increasing value of our shares, higher trading volume and improved financial performance, we believe our move to the NYSE is an appropriate next step that will give Badger Meter more visibility in the financial market and improve our stock's liquidity," said Richard Meeusen, chairman, president and chief executive officer of Badger Meter.

In other business, shareholders voted to declassify Badger Meter's board of directors. As a result, beginning at the 2009 annual meeting of shareholders, all directors will stand for reelection annually. "Our board recommended this change to our shareholders as part of our commitment to maintaining best practices in corporate governance," Meeusen said. Shareholders also approved the company's 2008 restricted stock plan, which allows the company to make periodic grants of restricted stock to officers and certain employees. Badger Meter is a manufacturer and marketer of products incorporating liquid flow measurement and control technologies.

Bradley Center board reverses naming rights decision
The Bradley Center Board of Directors did an about-face and rescinded its decision to seek to sell the naming rights for the Milwaukee facility. The reversal came after board members were sent a letter from Lynde Bradley Uihlein and David Uihlein Jr., the daughter and son of the late philanthropist Jane Bradley Pettit, who donated $90 million to build the Bradley Center in 1988.

The letter by the Uihleins stated: "Sadly, Jane Pettit's $90 million gift in honor of her father could be degraded if those initiatives result in a renamed facility. Moreover, a sale of naming rights will barely impact the financial challenges facing the Bradley Center's future. We believe that there are better solutions to the current funding dilemma. Now is the time for state and city government, the Bradley Center board, the Wisconsin Center District and the Milwaukee Bucks to work together to ensure that Milwaukee remains a major-league city. In order to achieve that goal, we believe that Milwaukee's sports, entertainment and convention resources must be unified in order to fully derive the benefits of current taxpayer support and efficient operations. For our part, the Bradley family will continue our longstanding and diverse philanthropic efforts in and around Milwaukee." A Milwaukee Biz Blog calling for unified leadership on the future of the downtown entertainment district on March 24 had generated additional discussion among Bradley Center board members.

Ulice Payne Jr., chairman of the Bradley Center board of directors, issued the following statement: "We have reviewed the statement from Lynde Bradley Uihlein and David V. Uihlein Jr., and we greatly respect their comments. After discussing their statement with other members of the Bradley Center Board, we have decided to end any efforts to seek naming rights for the building as a way to help strengthen the long-term health of the Bradley Center. As we have stated previously, it was always our intention to approach this issue in a respectful manner and with the family's involvement.  With their new statement today, we are ending any effort to seek a naming rights partner for the Bradley Center. Like everyone else in our community, we are grateful for the long-standing and diverse philanthropic efforts of the Bradley family."