Associated Banc-Corp said it is buying Eden Prairie-based risk and benefits consulting firm Ahmann & Martin Co. for at least $48 million and will fold it into Associated’s subsidiary Associated Financial Group. The transaction is expected to close next month.
Ahmann & Martin has 130 employees, and the combined operation will employ 370 and serve approximately 14,000 clients, Associated said. Ahmann & Martin also had offices in Edina.
Green Bay, Wis.-based Associated Banc-Corp is parent company of Associated Bank, Minnesota’s sixth largest by deposit market share.
POLARIS BUYING BRAMMO BIKE UNIT
Polaris Industries said it has acquired the electric motorcycle business of Brammo Inc. and will make a lending investment in the company. Terms were not disclosed.
Polaris, based in Medina, plans to market a variety of electric vehicles with Brammo’s lithium-ion electric drivetrain technology. Brammo will continue developing electric vehicle powertrains.
Polaris will begin manufacturing electric motorcycles in the second half of 2015 at its Spirit Lake, Iowa, facility.
Polaris has been a strategic investor and partner with Oregon-based Brammo since 2011.
BRIEFLY
Apogee Enterprises, Bloomington, said it raised its quarterly cash dividend to 11 cents per share from 10 cents per share, payable Feb. 19 to shareholders of record Feb. 5.
