Calder Capital is pleased to announce the successful acquisition of Phillips Lifestyles, a premier leisure product dealer based in Northern Michigan, by individual entrepreneur Dennis Riedel of Naples, Florida.
Founded in 1980 by Rick Phillips, Phillips Lifestyles has grown into a leading dealer of hot tubs, grills, fireplaces, and game tables. The company, located in both Grawn and Traverse City, Michigan, is an authorized dealer for top brands like Jacuzzi, Hot Spring, Napoleon, and Brunswick. In addition to product sales, Phillips Lifestyles provides service and installation.
After more than 40 years of leadership, Rick enlisted Calder Capital to find a successor to allow him to retire and dedicate more time to his family.
Dennis Riedel, a seasoned entrepreneur and founder of Chef’s Cut Jerky, acquired Phillips Lifestyles with the goal of continuing its legacy of excellence in Northern Michigan. After selling his previous company, Dennis was eager to return to Michigan and take on this new venture.
Rick Purcey of Calder Capital served as the lead Mergers and Acquisitions Advisor to Phillips Lifestyles.
Rick Purcey of Calder Capital commented, “It has been an honor to work with Rick and Dennis on this transaction. Phillips is a well-regarded name in Northern Michigan, and this transition is a great step for the company and its employees.”
“Congratulations to Dennis and Rick on a successful transaction,” stated Calder Managing Director Max Friar. “Most M&A firms overlook entrepreneurial buyers and do not know how to recruit them. Calder continues to demonstrate that we are experts at attracting both strategic and entrepreneurial buyers in a competitive situation to ensure the best price and fit for our clients.”Calder Capital served as the Exclusive Mergers and Acquisitions Advisor to Phillips Lifestyles. Troy Stewart of Kuhn Rogers served as the Seller’s legal counsel.
About Phillips Lifestyles:
Phillips Lifestyles, established in 1980, is a leading dealer of hot tubs, grills, fireplaces, and game tables in Northern Michigan. Based in Grawn and Traverse City, the company is an authorized dealer for several top brands and provides installation and service to its customers. To learn more, visit https://phillipslifestyles.com/.
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. Calder’s services include mergers and acquisitions advisory, private funds and capital markets advisory, and business valuations.
