“Scott, Pankaj, and the Calder team were excellent. We had some great talks these last few months. Scott was there to resolve those issues, and he delivered for me. He and Pankaj really did a great job, and they have become good friends of mine.”
– Lachhman Jindal, Former Owner, Wholesale Builder Supply, Wixom, Michigan (Seller)
“The team at Calder was great to work with and did a good job managing the negotiation process and keeping everyone focused on execution. Scott and Pankaj are great professionals and their experience proved valuable in bringing the transaction to a timely closing.
– Three Thirteen Capital, Owner, Bloomfield Hills, Michigan (Buyer)
Transaction Summary
Calder Capital, a nationwide mergers and acquisitions advisory firm, is delighted to announce the successful acquisition of Wholesale Builder Supply of Wixom, Michigan, by Three Thirteen Capital of Bloomfield Hills, Michigan.
The Acquisition Story
Wholesale Builder Supply has become a trusted cabinet supplier and custom kitchen and bathroom design partner throughout southeastern Michigan. As Lachhman Jindal, the Owner, prepared for retirement, he sought a successor who would prioritize employees while continuing to nurture long-standing customer relationships. He engaged Calder Capital’s Sell-Side team to identify the right cultural and strategic fit to carry the business forward.
Three Thirteen Capital brings decades of financial leadership and investment experience to Wholesale Builder Supply. The firm’s leadership has experience in residential real estate development, structured real estate financing, and global financial services. Three Thirteen Capital’s acquisition search was primarily focused on businesses within the construction, wholesale, and distribution industries, making Wholesale Builder Supply an ideal fit.
Jindal stated, “As I reflect on the transaction, I couldn’t imagine a better group to continue my legacy. It was a top priority for Three Thirteen Capital to take care of my legacy, which is my team. I know that they will be of service and support to my staff, people who have been very loyal over the years.”
Three Thirteen’s president commented, “Lachman is a true gentleman, and his passion for people and doing the right thing is evident in the culture at Wholesale Builder Supply. This organization truly lives by the motto of doing right by its customers, a legacy we hope to continue to invest in and build upon.”
Calder Capital’s Transaction Team and Sale Process
Scott Nicholson and Pankaj Rajadhyaksha of Calder Capital served as the Mergers & Acquisitions Co-Advisors to Wholesale Builder Supply. Serving as Lead Associate was Nick Browning of Calder Capital.
Calder’s Sell-Side team generated strong market interest during the sale process, with 166 Confidential Information Memorandums (CIMs) distributed to qualified buyers, and 10 offers received. The company closed within four months of signing the letter of intent.
Jindal shared, “Scott, Pankaj, and the Calder team were excellent. We had some great talks these last few months. Scott was there to resolve those issues, and he delivered for me. He and Pankaj really did a great job, and they have become good friends of mine.”
When asked about their experience in working with Calder, Three Thirteen commented, “The team at Calder was great to work with and did a good job managing the negotiation process and keeping everyone focused on execution. Scott and Pankaj are great professionals and their experience proved valuable in bringing the transaction to a timely closing.”
Rajadhyaksha noted, “Lachhman built a very well-run company that has thrived over 30 years through difficult and excellent economic periods. We truly enjoyed working with Lachhman and the various buyers who showed interest in the business. Three Thirteen Capital stands out as a group with well-rounded experience, bringing a lot to the business. WBS should be in great hands, and we expect that it will continue to thrive. I expect that I will stay in touch with Lachhman and Three Thirteen Capital in the future.”
Nicholson shared, “This transaction was especially meaningful. Lachhman is a dear man, and as a fellow senior citizen, is incredibly sharp and full of wisdom. With both the buyer and seller sharing similar heritage and values, there was a uniquely special relationship formed during our conversations. Both gentlemen made the process more enjoyable. This closing was an exciting accomplishment to be part of, and I can confidently say Lachhman will be a friend for the rest of my life.”
Garrett Monroe, Calder’s Sell-Side Managing Director, commented, “Calder Capital takes pride in advising founder-owned distribution and construction-related companies, and we are happy to have helped Lachhman transition his life’s work to a highly accomplished financial operator in Three Thirteen Capital.”
“The Old National Bank SBA Team was proud to be the preferred financing partner for Wholesale Builder Supply,” stated Jeff Kleinschmidt, SVP – SBA Group Sales Manager at Old National Bank. “The transition of ownership will facilitate the future long-term viability of this well-established business, and we join our friends at Calder Capital in congratulating both the buyer and seller on completion of the sale!”
Calder Capital served as the Exclusive Sell-Side Mergers and Acquisitions Advisor to Wholesale Builder Supply. Legal counsel to the seller was provided by Dan Parmeter of Rhoades McKee. Jeff Kleinschmidt of Old National Bank provided financing for the buyer and was instrumental in successfully holding the deal together through closing.
About Wholesale Builder Supply, Inc.:
Founded in 1992, Wholesale Builder Supply, Inc. is a Wixom, Michigan-based provider of cabinet supply and custom kitchen and bathroom design services. Serving southeastern Michigan for over 30 years, the Company offers personalized design layouts, premium cabinetry, and exceptional customer service while maintaining affordability for homeowners and builders alike. To learn more, please visit WBSCabinets.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.
