Calder Capital is pleased to announce the acquisition of Courtesy Driving School, based in Shelby Township, MI, by Anthem Management Group, a Chicago-based firm.
Founded in 1970 by David Semrau, Courtesy Driving School has been a trusted provider of affordable and safe driver education across Michigan for over five decades. Following David’s passing, his wife Patricia and son Brandon turned to Calder Capital to identify a successor who could carry forward David’s vision and passion.
Anthem Management Group, founded in 2023 by Daven Shastri, emerged as the ideal partner to continue Courtesy’s legacy. With an Honors Business Administration degree from the Ivey Business School at Western University and a career that began on Wall Street, Daven brings a wealth of experience working with notable companies.
Garrett Monroe of Calder Capital served as the exclusive M&A advisor to Courtesy Driving School.
The Calder Capital team ran a robust and competitive process that resulted in 240 qualified buyers requesting and receiving the CIM. Of those, 38 buyers submitted serious offers.
“We continue to see robust buyer interest in sellers whose businesses are performing well,” stated Calder Founder Max Friar. “Nearly all of our $1M+ EBITDA opportunities are receiving 25+ offers, resulting in strong multiples, solid deal structures, and great choices for our sell-side clients. 2024 will go down in the books as a strong sellers’ market. Congratulations to Courtesy and Anthem on a transaction well-executed.”
“Calder Capital met and exceeded our expectations at every turn,” Brandon commented. “They were incredibly responsive, consistently hitting targets, deadlines, and fulfilling every commitment. What truly stood out was their professionalism, timeliness, and honesty. The communication and transparency made the entire process seamless. Thanks to their expertise and the exceptional, over-the-top CIM, we attracted multiple buyers. Garrett was outstanding throughout the process, and we couldn’t have asked for a better partner in this journey.”
Calder Capital served as the Exclusive M&A Advisor to Courtesy Driving School. Levenfeld Pearlstein, LLC and CliftonLarsonAllen, LLP served as the buyer’s attorney and CPA respectively. Dustin Daniels and Stephen Reaume of Miller Johnson served as the seller’s attorneys.
About Courtesy Driving School
Founded in 1970 by David Semrau, Courtesy Driving School has educated thousands of drivers across Michigan. The school is known for providing quality, affordable driver education with a strong emphasis on safety.
About Calder Capital
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.
