Today, Inc. revealed that Calder Capital, a leading nationwide M&A Advisory Firm, has earned the rank of No. 2276 on the 2025 Inc. 5000, Inc.’s prestigious, annual list of the fastest-growing private companies in America. This marks Calder Capital’s fourth appearance on the list.
On the list, Calder Capital was ranked No. 35 of 88 in Michigan and No. 5 of 16 headquartered in the Grand Rapids region. The prestigious honor was given to Calder Capital, considering Calder’s 188% 3-Year revenue growth (2021 to 2024).
“Making the Inc. 5000 list four times is no small feat, with less than 10% of Inc. 5000 honorees making the list four or more times,” stated Calder Capital’s Founder, Max Friar. “Calder’s trajectory is fueled by our remarkable clients, incredible team, as well as our significant investments in technology and marketing automation. We are built to scale, and our sustained presence on this list is proof of that. We are honored to be our clients’ buy-side advisor, sell-side advisor, and valuation service provider of choice.”
The Inc. 5000 judging process is rigid and entirely merit-based on sales numbers, with eligibility requiring:
- Revenue by March 31, 2021
- At least $100,000 in revenue in 2021
- At least $2 million in revenue in 2024
- Privately held, for-profit, U.S.-based, and independent (not a subsidiary or division)
- All revenue figures are verified via tax returns and an independent CPA review.
Calder’s inclusion this year is especially notable given the ongoing headwinds in the M&A industry since 2021. In 2024, global deal volume and multiples remained below pre-2022 levels amid persistent inflation, high interest rates, and geopolitical uncertainty.
Despite that backdrop, Calder completed 46 transactions in 2024. The firm also expanded its team, invested in firm-wide process improvements, and further cemented its national reputation in the lower middle market.
“This is not an easy business model to scale, but our team at Calder makes it possible,” stated Buy-Side Director Sam Scharich. “We have built a culture where resources, tools, and mentorship are in place for everyone to succeed.”
Sell-Side Director Garrett Monroe added, “The M&A landscape is constantly evolving, and firms that adapt, innovate, and keep talent engaged will thrive. Calder is doing just that. Being recognized again by Inc. 5000 is a great validation of our momentum going into the second half of 2025 and beyond.”
Within the last three years, 2021 to 2024, Calder Capital has been provided with numerous challenges and opportunities to grow. Our people have shown resilience through COVID-19 and the macroeconomic turbulence experienced over the last few years from supply chain shifts, tariffs, interest rate hikes, and inflationary pressures. Calder’s past recognitions by Inc. are as follows:
Calder’s History on Inc. 5000 Fastest-Growing Companies Lists
| Year | Geography | Rank Overall | Rank in State | Rank in City |
| 2021 | Nationwide | No. 2,896 | No. 42 | No. 12 |
| 2023 | Nationwide | No. 1,498 | No.24 | No. 8 |
| 2024 | Nationwide | No. 1,409 | No. 22 | No. 6 |
| 2025 | Nationwide | No. 2,276 | No. 35 | No. 5 |
| 2022 | Midwest Region | No. 61 | No. 5 | No. 1 |
| 2023 | Midwest Region | No. 80 | No. 4 | No. 2 |
| 2024 | Midwest Region | No. 73 | No. 7 | No. 3 |
| 2025 | Midwest Region | No. 30 | No. 2 | No. 1 |
Looking ahead, Friar remains focused on sustainable, long-term growth. Friar shared, “my goal is to make this list as many years as possible. The Inc. 5000 is not only a morale boost for our team, it’s also a magnet for the kind of driven, innovative people we want on board. We believe that our growth attracts top talent and perpetuates our trajectory. I believe we’re just getting started.”
The complete list of 2025 Inc. 5000 honorees may be found here.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels, including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent.
The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.Inc.com.
About Calder Capital
Founded in 2013, Calder Capital is a cross-industry mergers and acquisitions advisory firm with offices across the United States. Calder provides valuation, sell-side, and buy-side services. We are nationally recognized for excellence in advising $1-100M enterprise value transactions in manufacturing, construction, distribution, and business services. Calder serves business owners, entrepreneurs, family offices, financial buyers, and investors. Learn more at www.CalderGR.com.