Calder Capital is delighted to announce the successful acquisition of Progressive Systems of Zeeland, Michigan, by local entrepreneur Joshua Brewster.
Progressive Systems, established in 1990, has carved a niche in the industry as a proficient designer and manufacturer of light gauge steel trusses. The company, co-founded by Stan Sluiter, initially focused on pre-assembled metal stud wall paneling. Stan’s son, Scott took over the majority ownership of the business from his parents over time. In 1994, it strategically expanded into the light-gauge truss sector, a move that soon became its primary business focus. Over three decades, the company has completed more than 13,000 projects, built 275,000 trusses, and shipped 30,000,000 pounds of steel. Under the stewardship of Scott and his wife Susan, Progressive exemplified success and stability.
The search for a suitable successor led the partners to engage Calder Capital. Joshua Brewster emerged as the ideal candidate, bringing with him a robust background in metals, manufacturing, and real estate. His leadership skills and entrepreneurial drive are key assets as he takes over the Company, ready to guide it through its next phase of innovation and growth.
When asked what excites him most about this transaction, Joshua shared “Potential is what excites me about this acquisition and adding to the portfolio to create synergies that many can benefit from. I look forward to carrying on what Scott and his team have worked very diligently on over the last few decades. I’m excited to take Progressive Systems into its next stage of growth and progression (no pun intended).”
Pankaj Rajadhyaksha of Calder Capital served as the lead Mergers and Acquisitions Advisor to Progressive Systems, Inc.
“Having known the Sluiter family, including Scott’s parents, for more than two decades, it was a pleasure to have the opportunity to work with them again,” shared Pankaj. “The business has been a steady presence in the construction industry in West Michigan and around various parts of the country. I truly believe that the company can grow substantially from its existing location for decades to come. I am excited for Scott and Sue to start their transition out of the business and eventually start enjoying retirement. This is also an exciting time for Josh as he takes on the challenges of using his manufacturing expertise and taking the business to the next level.”
“The Calder team and Pankaj were a tremendous resource to work with during this acquisition,” Joshua commented. “They went above and beyond any expectations in making sure the process flowed as smoothly as possible. I would highly recommend the team.”
“I am continually excited and optimistic about the future when I see entrepreneurs in action,” commented Calder Founder Max Friar. “A big congratulations to Scott Sluiter and Joshua Brewster on a successful sale and transition from one entrepreneur to the next. Calder is looking forward to a long future of helping entrepreneurs transition in and out of the world of business ownership.”
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to Progressive Systems, Inc.
The terms of the transaction were not disclosed.
About Progressive Systems
Founded in 1990, Progressive Systems is a premier designer and manufacturer of light gauge steel trusses. Co-founded by Stan Sluiter, the company initially specialized in metal stud wall paneling before pivoting to focus primarily on light-gauge trusses in 1994. Over three decades, Progressive Systems has completed over 13,000 projects and shipped 30 million pounds of steel, under the skilled leadership of Scott and Susan Sluiter. Renowned for its commitment to quality and innovation, Progressive Systems continues to set industry standards in the steel truss sector.
About Calder Capital, LLC
Founded in 2013, Calder Capital, LLC is a lower middle market investment bank providing mergers and acquisitions advisory services to business owners, entrepreneurs, family offices, and investors across the United States. Our dedicated team of professionals combines extensive industry experience, technological innovation, negotiation savvy, and key relationships to exhibit exceptional execution. Calder’s services include mergers and acquisitions advisory, private funds and capital markets advisory, and business valuations.
