February 2020 – Calder Capital, LLC is pleased to announce the successful sale of D.C. Martin & Son Scales, of Grand Rapids, Michigan, to Mettler Toledo International Inc. (NYSE: MTD).
Founded in 1955, D.C. Martin & Son Scales sells, installs, maintains and calibrates industrial scales and weighing systems. The Company’s direct sales and service personnel serve virtually every industry from food and pharmaceutical to discrete manufacturing, agriculture, and distribution. Overall, D.C. Martin offers a complete line of counting scales, floor scales, heavy capacity (truck and rail) scales, and high precision scales.
Founded by their grandfather, Dave C. Martin, a first-generation immigrant from Scotland who achieved commercial success with little more than a 6th-grade education and a lot of grit, D.C. Martin & Son Scales owners David Martin and Pam Meier have worked in the business since 1984. Under David and Pam’s ownership and direction, D.C. Martin & Son was able to make incredible strides generating considerable business outside of West Michigan. Both David and Pam handled critical functions of the business and when Pam expressed a desire to slow down and pursue a transition, she and David thought it best to look for a successor for the business that would allow her to exit and allow David to continue with the business longer term. David and Pam approached Calder in 2018 to assist with confidentially representing and marketing the business.
“David and Pam have managed and grown an incredible business,” stated Calder Managing Partner, Max Friar. “We are grateful to have worked with them on the sale of their 65+-year-old company. It is uncommon for such a gem of a company to present itself for sale right here locally and we are honored to have represented David and Pam on their journey. It is fantastic what they were able to do with the business over the past 35 years, in making it nicely profitable and more importantly, delivering a legacy of exceptional customer service to customers daily.”
Mettler-Toledo Industrial Floor Scale, one of many products represented by D.C. Martin.
David Martin added, “While it was a difficult decision to sell our family business, which was now on the third generation, it was the right decision. We can’t say enough good things about working with Matt Uhl and Calder Capital. Very little in life can prepare you for the emotions and realities of parting ways with your business. In working with Calder we knew we had a partner that stood up for our interests and represented us fairly and professionally. Calder kept the sale process quiet and confidential and were always in good communication. We received multiple offers and knew ultimately that we choose the best buyer in Mettler-Toledo!”
Matt Uhl, the lead advisor on the transaction noted, “It was a true pleasure working with David and Pam. They were always available, transparent, thoughtful and reasonable to work with. I couldn’t have asked for a better client. Selling a business, especially a third-generation family business is not an easy decision, but after being presented with buyers of a good fit, and excellent offers, they have good reason to feel extremely accomplished and comfortable in the decision they made. The buyer is an outstanding fit and we are very happy for their success.”
The buyer, Mettler-Toledo, is a global manufacturer and marketer of precision instruments for use in laboratory, industrial and food retailing applications. It is the largest provider of weighing instruments for use in these market segments. The company also provides various analytical instruments, process analytics instruments, and end-of-line inspection systems. Mettler-Toledo is geographically diversified with sales in 2019 derived 30% from Europe, 39% from the Americas and 31% from Asia and other countries. The Company has an extensive global sales and service organizations with approximately 8,150, or approximately one-half, of our employees providing sales, marketing and service in 40 countries. The Company has a manufacturing presence in Europe, the United States, and China.
Calder Capital represented D.C. Martin & Son Scales as its exclusive Mergers and Acquisitions Advisory firm. The terms of the transaction were not disclosed. The D.C. Martin transaction represents Calder Capital’s first sale to a publicly traded company!
