Calder Capital is proud to announce ADAC’s acquisition of EBW Electronics was recognized as a finalist for the Outstanding Growth Award – Deal of the Year (Between $10MM–$20MM) by ACG West Michigan. Calder Capital served ADAC of Grand Rapids, Michigan as its exclusive buy-side advisor in their acquisition of Holland, Michigan-based EBW Electronics.
The transaction, completed in April 2025, was a strategic West Michigan-based acquisition that supports ADAC’s continued innovation, end-market diversification, and long-term growth. Calder Capital served as exclusive buy-side advisor to ADAC, guiding the company through sourcing, diligence, and successful execution.
Patrick Robey of Calder Capital served as the Lead M&A Advisor to ADAC, with Hannah Nabhan as Buy-Side Director and Alex Flechsig as Buy-Side Associate.
Over the course of the engagement, Calder Capital facilitated 36 introductions to prospective acquisition targets, ultimately identifying EBW Electronics as a strong strategic and cultural fit. The acquisition aligns closely with ADAC’s long-term vision to expand its capabilities and accelerate growth within its electronics platform.
“We are glad to see ADAC receive this recognition. They had the right acquisition strategy and an intentional approach to find the right long-term partner, “commented Buy-Side Managing Director, Sam Scharich. “EBW is an excellent cultural and strategic fit, and we’re proud to have supported ADAC throughout the process.”
Founded in 1992, EBW Electronics has grown into a global leader in electronic manufacturing solutions, specializing in sensors, switches, actuators, and lighting systems. The acquisition enhances ADAC’s capabilities and supports its goal of scaling its electronics division while maintaining strong cultural alignment between the two organizations.
The recognition from ACG underscores the importance of experienced buy-side advisory and an ability to identifying opportunities that balance strategic growth with cultural fit. The honor also reinforces West Michigan’s position as a strong market for sophisticated M&A activity, particularly among family-owned and founder-led businesses.
ACG West Michigan’s Outstanding Growth Awards recognize standout transactions based on value, complexity, perseverance, and growth potential. The ADAC–EBW Electronics transaction was named a finalist for its significance and impact on the regional M&A landscape.
Read the full press release for the ADAC acquisition of EBW Electronics here.
The Deal of the Year Award in this category was awarded to the acquisition of Harlo by Borgman Capital, another transaction advised by Calder Capital on the sell-side. View the full list of ACG Outstanding Growth finalists here.
About ADAC:
ADAC, headquartered in Grand Rapids, MI, is a leading diversified solutions provider to the automotive, industrial, medical, marine and other industries offering design, development, customization, quality control, testing and validation, prototyping, and manufacturing. To learn more, please visit https://www.ADACCompanies.com.
About EBW Electronics:
EBW Electronics, based in Holland, MI, is a global leader in LED circuit board design and electronic manufacturing. The company specializes in high-performance printed circuit board assemblies and innovative LED applications tailored for a wide range of industries. To learn more, please visit https://EBW-Electronics.com.
About ACG West Michigan:
ACG West Michigan is a leading organization that supports middle-market growth and connects professionals across the regional dealmaking community. As part of the global Association for Corporate Growth (ACG), it brings together leaders from private equity, investment banking, corporate development, lending, legal, and accounting to foster relationships and recognize impactful transactions in West Michigan.
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.
Notice: Calder Capital, LLC is not affiliated with any similarly named organizations or entities. To verify communications from our firm, visit our website or contact [email protected].