Calder Capital, a construction expert M&A business broker, is electrified to announce the acquisition of Allied Electric, a premier electrical contractor based in Walker, MI, by Continuum Legacy Partners of Chicago, IL. This strategic partnership aims to enhance Allied Electric’s service offerings in design-build, low-voltage projects, and specialized installations such as conveyor systems, refrigeration, and fire alarm systems
Quick Facts:
Industry: Construction
Sub-Industry: Electrical Contractor
Seller Location: Walker, MI
Buyer Location: Chicago, IL
The Acquisition:
Established in 1969, Allied Electric is a third-generation, family-owned electrical contractor known for its expertise in design-build, service, and low-voltage work, with niche focuses on conveyor systems, refrigeration, and fire alarm projects. Steve and Drew Hansma, Allied’s owners, engaged Calder’s sell-side advisory team to secure new majority partners. Both Steve and Drew’s top goal was to preserve Allied’s 55-year history and legacy while continuing a sustainable growth trajectory. They are excited to partner with Continuum and help actively grow the business as minority owners for the foreseeable future.
Continuum Legacy Partners, managed by Ethan Walz and David Hodorowski, is dedicated to owning and operating private companies for a long-term hold period. Ethan and David have a proven track record, strong personal bond, and complementary operational skills, which gives them confidence in their ability to successfully manage and grow businesses. Their shared faith and values, along with their love for the Midwest, make them ideal partners with Steve, Drew, and the Allied Electric team.
Garrett Monroe of Calder Capital served as the lead Mergers and Acquisitions Advisor to Allied Electric, Inc. The Calder Capital team attracted the attention of 163 qualified buyers and secured 19 offers.
“Allied is one of the top electrical contractors in West Michigan with a dominant foothold in the design-build space,” stated Lead M&A Advisor Garrett Monroe. “The Hansma family founded Allied, and it has stayed in the family and passed down from generation to generation, so it was a big deal for Steve and Drew to recognize that in order to preserve the company’s market position and legacy, they wanted to proactively find a partner to begin the process of transitioning ownership and responsibilities, as well as ensure that Allied’s remarkable growth would continue.”
Monroe continued, “Ethan and David are perfect partners for Steve and Drew – they are similar to Steve and Drew in many ways, especially in personality, culture, and conservative mindset. I am thrilled that Steve and Drew can still be a part of Allied’s growth story as the four partners take Allied to the next level. My prediction is that Allied will start to become a more prominent player across the Midwest over the next few years. Allied’s engineering and design-build expertise, along with room to grow its service and low-voltage division, provide natural organic growth opportunities. Ethan and David can help Steve and Drew think through inorganic growth opportunities, as Allied is a platform that can handle strategic acquisitions in the near future. I look forward to seeing more and more Allied trucks on the road!”
“A big congratulations to the Allied and Continuum teams on a transaction well-executed,” stated Calder Founder Max Friar. “Calder’s commitment to the construction M&A space is exemplified by a client like Allied Electric. I also want to recognize Advisor Garrett Monroe’s intense and focused effort on this deal. Congrats again to Garrett, Steve, Drew, Ethan, David, and their teams. We hope to have the opportunity to work with Allied and Continuum as they continue to grow!”
“Calder Capital made a process I could never have navigated on my own both manageable and successful,” Steve commented. “Their expertise ensured we maximized every opportunity, and their guidance was invaluable from start to finish. The fair valuation they provided was key in attracting serious buyers, and their support was essential in getting us through to a smooth closing. While there were challenges along the way, Calder’s team and Garrett [Monroe], worked hard to deliver a great outcome. In the end, we found the perfect buyer and achieved a successful deal. I’m grateful for their help and would highly recommend Calder Capital.”
Calder Capital, a construction expert M&A business broker, served as the Exclusive M&A advisor to Allied Electric. Varnum LLP served as legal counsel to Allied Electric. EHTC served as Allied’s tax advisor, QoE provider, and CPA team. Paul Hastings served as legal counsel to Continuum Legacy Partners. Boulay served as Continuum’s tax advisor, QoE provider, and CPA team.
About Allied Electric
Founded in 1969, Allied Electric is a market-leading electrical contractor based in Walker, Michigan, a suburb of Grand Rapids. The company operates three divisions: construction, service, and low voltage (through its subsidiary Shareco). With a dedicated team of over 150 employees and capabilities to service the greater United States, Allied Electric serves diverse sectors, including healthcare, education, food and beverage, commercial, industrial, and institutional markets.
About Continuum Legacy Partners
Continuum Legacy Partners, founded and managed by Ethan Walz and David Hodorowski, is a traditional search fund aiming to acquire privately held businesses with annual revenues of $5-$50 million and/or EBITDA of $2-$10 million. Backed by investors and former operators, they focus on owning, operating, and growing existing businesses. They prioritize people and relationships, leading with humility, accountability, and integrity, and are committed to providing confidence, comfort, and substantial rewards for their stakeholders.
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. Calder is a construction expert M&A business broker.
