“Calder Capital did an excellent job of generating interest in the company and delivering bona fide offers in the price range they said was achievable. The process was very well organized. Most importantly, Garrett Monroe was easy to work with and did an excellent job. I would certainly recommend Calder to prospective business sellers.”
– Jerry McGrath, Former Owner, Bush Concrete Products, Muskegon, MI (Seller)“Calder and Garrett in particular were very responsive to our needs as the buyer, ensuring that we had the documentation, information and access as required to feel confident in the purchase.”
– Andy Wieser, CEO, Wieser Concrete Products, Maiden Rock, WI (Buyer)
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Transaction Summary
Calder Capital, a nationwide mergers and acquisitions advisory firm, is pleased to announce the successful sale of Bush Concrete Products, Inc. of Muskegon, Michigan, to Wieser Concrete Products, Inc. of Maiden Rock, Wisconsin.
The Acquisition Story
For nearly a century, Bush Concrete has manufactured high-quality standard and custom precast concrete products for contractors, municipalities, engineers, and property owners across a range of infrastructure and site-development applications. Owner Jerry McGrath, engaged Calder’s Sell-Side team as he prepared to exit the company, seeking a disciplined process designed to identify not only the most qualified buyer, but the right buyer for Bush’s next chapter. Although achieving a strong outcome was important, his objective was never solely to maximize value. McGrath was equally focused on finding a long-term steward who would invest in the company’s future, protect its employees, and preserve the reputation and values Bush Concrete Products had built over generations.
Bush Concrete’s engagement led to Calder Capital marketing and advising the sale of the business to Wieser Concrete Products.
Founded in 1965, Wieser Concrete is a family-owned manufacturer of precast concrete products for agricultural, underground, highway, commercial, wastewater, and stormwater applications. With facilities across Wisconsin, Illinois, and Minnesota, the company serves customers throughout North America. Wieser’s Midwestern roots, complementary product capabilities, and long-term operating outlook made Bush Concrete a strong strategic fit.
McGrath commented, “I am looking forward to being fully retired. I have truly enjoyed my relationship with Bush Concrete Products over the last 25 years but the time to become a genuine, full-fledged retiree has arrived.”
Andy Wieser, CEO of Wieser Concrete Products, noted, “Both Wieser and Bush have been built around the same values – hard work, quality products, taking care of customers and treating employees like family. We are hoping to bring additional support, resources, manufacturing capabilities and a broader range of precast products that will allow the Michigan operation to continue to grow and serve its customers.”
Calder Capital’s Transaction Team and Sale Process
Garrett Monroe of Calder Capital served as the Lead Mergers & Acquisitions Advisor to Bush Concrete Products. Serving as Lead Associate was Jonathan Dykstra, with Nick Browning as Lead Analyst.
Calder’s Sell-Side team generated strong market interest, distributing 307 Confidential Information Memorandums (CIMs) to qualified buyers and receiving 39 indications of interest. After reviewing the proposals, the Bush Concrete Products team chose to focus on three buyers it believed represented the strongest fit for the company’s next chapter, resulting in three letters of intent for consideration.
McGrath stated, “Calder Capital did an excellent job of generating interest in the company and delivering bona fide offers in the price range they said was achievable. The process was very well organized. Most importantly, Garrett Monroe was easy to work with and did an excellent job. I would certainly recommend Calder to prospective business sellers.”
Wieser noted, “Calder and Garrett in particular were very responsive to our needs as the buyer, ensuring that we had the documentation, information and access as required to feel confident in the purchase.”
Monroe remarked, “Bush Concrete built an exceptional reputation through its precast expertise and commitment to its customers and employees. Deeply rooted in West Michigan, the company serves customers throughout the Midwest and across the country. I am certain that Wieser will continue the Bush legacy and grow the company’s impact. I congratulate both teams on this exciting next chapter; it was a privilege to advise Bush Concrete and be a part of these two great companies coming together.”
Max Friar, Calder’s Managing Partner, commented, “Precast concrete plays an important role in the infrastructure we depend on every day. Having worked with businesses across the precast concrete and industrial manufacturing industries, Calder recognizes the strong fit between Bush Concrete and Wieser. Congratulations to both teams on a successful transaction!”
Calder Capital served as the Exclusive Sell-Side Mergers and Acquisitions Advisor to Bush Concrete Products. Advising the sellers were: Plante Moran who provided quality-of-earnings services, Schmidt, Koning, Villarreal & Associates, LLC who served as tax advisor, and Varnum who served as legal counsel. The buyer’s advisors included EisnerAmper as M&A Advisor, Godfrey & Kahn as legal counsel, First American Title Insurance Company, and AKT Peerless as environmental consultant.
About Bush Concrete Products, Inc.:
Based in Muskegon, Michigan, Bush Concrete Products manufactures standard and custom precast concrete solutions for underground infrastructure, wastewater, stormwater, and site-development applications. To learn more, please visit www.BushConcreteProducts.com.
About Wieser Concrete Products, Inc.:
Founded in 1965 and based in Maiden Rock, Wisconsin, Wieser Concrete Products is a family-owned manufacturer of precast concrete solutions for agricultural, underground, highway, commercial, wastewater, and stormwater markets. To learn more, please visit www.WieserConcrete.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.
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].
