Forecasts show West Michigan’s manufacturers should find conditions ripe for growth in the new year, but it appears the region’s automotive and furniture sectors are taking two different paths toward expansion – organic growth and M&A. According to John Kerschen, Managing Director, The Charter Group, when “the economy is going gangbusters,” manufacturers are more apt to grow organically. That’s because acquisitions typically become less affordable as companies perform better as the economy improves, he said. On the other hand, the availability of cheap debt and banks’ willingness to work with acquirers and sellers on the transactions has a positive impact on M&A activity. more