Established Grand Rapids, MI-Based Die Cutting & Finishing Manufacturer Acquired by Individual Investor

November 2018 – Calder Capital, LLC, a mergers & acquisitions firm focused on lower middle market industrial and service transactions, is pleased to announce the successful acquisition of Grand Rapids, MI-based Performance Die Cutting & Finishing, LLC.

Established in 1987, Performance Die Cutting specializes in die cutting of sheets, cardboard, foam, cloth, and other materials for a growing base of West Michigan-based customers primarily in the printing and packaging industries.

Performance was acquired by Steven Weber of Grand Rapids. Mr. Weber was very excited about the opportunity to purchase and grow Performance Die Cutting. “I’m very much looking forward to taking the reins and growing the business,” stated Mr. Weber. “There are a lot of opportunities to market the business to additional customers as well as add services. The owners of Performance have done a wonderful job of building a company that focuses on customer service and quality and I feel blessed to be the one that will take it to the next level while maintaining their core values.”

grand rapids manufacturing company acquisitions

Established in 1987, Performance Die Cutting specializes in die cutting of sheets, cardboard, foam, cloth, and other materials for a growing base of West Michigan-based customers primarily in the printing and packaging industries.

Performance Die Cutting had been owned by three partners since they initially acquired the business in 2007. Co-owner Carl Pease had served as the primary operator of the company since the acquisition. Mr. Pease was equally excited about the sale. “We were very pleased to sell the company to Steve. He is smart and ambitious, and we feel very confident that he is the best fit to grow the business while taking care of the existing customers. I agree that there are a lot of opportunities to grow the business and make it stronger and better, but for me, it was time to retire.”

Max Friar, Managing Partner of Calder Capital, noted that the acquisition went very smoothly and he was pleased with the professionalism of all parties involved. “From start to finish the sales process took about 6 months,” stated Friar. “That is well below the current average of over 9 months. All sides, including the various advisors, remained calm and level-headed regarding valuation, financing and legal. Selling/buying a business is never easy and it’s a pleasure to have worked with a great team.”

Regarding the state of the M&A market, Friar commented that there appear to be a number of factors in play that are tilting the scales towards buyers. “Interest rate increases, stock market turbulence and the continuing and growing desire of the boomers to retire are beginning to work together to put downward pressure on valuation. It’s basic economics: money is more expensive and there is more supply coming to market. The result is that buyers are generally becoming choosier and lenders are constraining their ability to pay multiples that we’ve seen in past years. This is not to say the sky is falling. By no means is it a bad time to sell. The economy remains strong and most economists are projecting continued growth through 2019.”

The Performance Die Cutting sale marked the 11th closing for Calder Capital in 2019. “Combined with Small Business Deal Advisors, we’ve hit a record 15 closings for the year,” noted Friar. “I feel that 2019 will also be a strong year.”

“Thank you to Ghazey Aleck and the Calder Team. We are pleased with the number of qualified buyers you presented to us and we are extremely happy to say that we got the deal done with the best buyer for the future of our business. Thank you very much! Highly recommended.” – Carl Pease (Seller)

 

Calder Founder Max Friar Wins 2018 ACG Dealmaker of the Year Finalist Award!

Calder Capital is pleased to announce that Founder and Managing Partner, Max Friar, has won the 2018 ACG/MiBiz Dealmaker of the Year Finalist Award!

Max Friar wins Dealmaker of the Year Finalist after founding Calder Capital only 5 years ago. Calder also sourced and closed the Deal of the Year <$25MM.

As a highlight to Calder Capital’s commitment to facilitate lower middle market transactions in West Michigan, ACG awarded Friar with 2018 Dealmaker of the Year Finalist in October 2018.

Since its founding in July 2013, Calder has already facilitated over 50 M&A transactions, 15 alone as of 10/31/18. “With the expansion of our team and the addition of Small Business Deal Advisors, our main street business brokerage arm, the pace of closings continues to accelerate,” noted Friar. “We fully intend on closing over 20 transactions in 2019, which would easily make the Calder/SBDA team the largest by transaction volume in West Michigan and perhaps even the entire state.”

When asked what continues to drive the company’s growth, Friar noted that he is driven deeply by a love of entrepreneurship and challenge. “Mergers and acquisitions continually provide for the creation of entrepreneurial opportunities and the ability to help entrepreneurs, about which I am most passionate. This extends beyond helping buyers find businesses; we are a very entrepreneurial organization and I find a lot of joy from bringing in new team members and showing them how, if they are smart and hard-working, they can create a fulfilling career with considerable economic opportunity, lifestyle flexibility, and continuous challenges.” On the latter point, Friar stated, “Although similarities exist, every transaction is a unique blend of multiple challenges – emotional, financial, personality, transition management – that are difficult. It’s rarely boring. This is a primary reason I’ve stuck with M&A for nearly 15 years.”

When asked what he was most excited about looking forward, Friar noted a number of things. “When I started Calder, it was all about the next deal. We had little in terms of resources and opportunities. We had no name for ourselves so 100% of our focus was signing clients on and trying to get deals done. Of course, that remains preeminently important; however, personally, I have also enjoyed growing the team, which is not necessarily something I expected out of the gate. I think it’s every owner’s dream to surround themselves with good people, a team with integrity, drive, honesty, and ambition. We have that at Calder/SBDA. The people make this happen, not me. Without Calder’s associates and administrative team, we would be closing a handful of deals at most, not 20.”

Friar also noted that he continues to be excited about the Boomers retiring. “We are seeing more and more of what I call ‘bull run exhaustion’,” noted Friar. “It took until 2013-2014 for many small businesses to recover from the damage of 2008-2010. Since then, many have been riding a bit of a gravy train, with sales and profits at or above historical highs. It’s hard to let go when the money is good. But we’re seeing cracks in the past few years: employees are very difficult to find and retain, and the constant demands of a strong economy have wearied many owners. They are now looking to transition out of their businesses. At the same time, interest rates are still historically low and buyers – individuals, strategics and institutional – are looking for quality companies.”

Heading into 2019, Friar expects that the M&A will remain strong. Demographically, there will just be more and more sellers coming out. Buyers can expect to come into an environment where they have more choices than they’ve had in the past. Deal multiples may continue to be impacted somewhat by rising rates, however, good companies will still fetch reasonable valuations and there will be competition among buyers. “I’m looking forward to the next few years. West Michigan is a wonderful place to live and transact business and I feel very confident that conditions will remain favorable for deal-making.”

Investor Seeks Lower Middle Market E-Commerce or Business Services Company Acquisition

Calder Capital has been retained to assist an individual investor with significant middle market, entrepreneurial, management, and investment experience with his strategy to acquire a lower middle market e-commerce or business services company in Southwest Michigan. The investor is seeking to leverage his intricate experience which includes ventures in title insurance, cellular software billing services, and a cellular phone service provider.

Acquisition Criteria

Target: Established niche lower middle market e-commerce or business services business

Geography: Southwest Michigan (greater Saugatuck area)

Revenue: $2,000,000 – $15,000,000

Cash Flow: $500,000 – $2,500,000

Deal Structure: The Acquirer is flexible regarding deal structure; he prefers 100% buyouts with potential for management stock participation.

Profitability: The Acquirer is looking for established businesses with proven profitability.

Management Team: The Acquirer prefers businesses with a strong, established management team in place who is motivated to stay on and grow the business long term.

Time Frame: Acquirer is able to move quickly on the right opportunity.

 

About the Investor

The buyer has invested in and successfully grown several middle market businesses. His experience in guiding and managing small to medium-sized businesses stems from a long career of successful ventures in the business services and e-commerce space. He is now looking to leverage his previous experience in order to purchase and grow a similar company in the lower middle market. The investor is looking to partner with strong management teams to not only grow the company, but also to preserve the culture, history, and legacy of the business.

The investor has experience in running his own law practice as well as starting or investing in ventures in the real estate title insurance space, a cellular software billing firm, and a cellular phone service provider. With this previous experience, the investor can add tremendous value to companies through operational and strategic guidance which can help boost the long-term growth and stability of the business.

With a history of entrepreneurial pursuits and successful investments, our client is excited to work alongside the management team of a currently established business and continue the growth trajectory of whichever company he becomes involved in.

If you are interested or know of a potentially interested party, please complete the form below or contact Patrick Robey at 517-240-2895 or patrick@caldergr.com.

West Michigan Investment Group Seeks Manufacturing and Distribution Acquisitions

Calder Capital has been retained to assist GVD Industries, a Holland, MI-based family office, with its strategy to acquire West Michigan-based manufacturing, industrial, service, and distribution businesses. After recently divesting two of the Firm’s holdings, GVD is searching for opportunities to invest in the community for long-term growth and development.

Target: Manufacturing, industrial, service, or distribution companies with the exception of automotive OEM suppliers or injection molding companies.

Geography: West Michigan (down to South Haven and up to Muskegon)

Revenue: $3 million to $12 million

Cash Flow: $750,000 to $2 million

About Our Client

GVD Industries is a West Michigan-based family-owned private equity firm. Since 2003, GVD has been acquiring small to mid-size companies that share its vision of creating business success through a participative management style. GVD believes that an environment which empowers employees through a culture of integrity, trust, and servant leadership will yield the innovation required to reach a company’s maximum potential.

Squeegee Squad of Grand Rapids Acquired by Local Investor


Calder Capital is pleased to announce the successful sale of Grand Rapids-based Squeegee Squad to an Individual Investor, Troy Butler, of West Michigan.

Squeegee Squad is a profitable and growing window cleaning franchise operating in Grand Rapids, MI and the surrounding areas. The Company serves both the residential and commercial markets, including buildings ranging from single-story homes to 15-story high-rises. Additionally, the Company offers its customers pressure washing, gutter cleaning, and ancillary services.

Squeegee Squad is a franchise partner that has a superior commitment to excellence and a growing list of first-rate customers.

Matt and Jamie Graif were very pleased with the outcome, “We’ve worked very hard over the past ten years to bring quality and reliability to our customers. We are excited to transition the business to Troy and believe that his skills, drive, and connections will take SqueeGee Squad to the next level.”

Troy Butler, the acquirer, was equally excited. “I’ve been looking for the right business for some time. Squeegee Squad proved to be a great fit for my entrepreneurial interests. Matt and Jamie did a tremendous job of building the company from a start-up to an established and well-respected name serving commercial, residential and municipal clients throughout West Michigan. The phenomenal team at Squeegee Squad has successfully completed over 65,000 jobs in the area and we look forward to many more. I am very excited to take the reins and move things forward!”

Max Friar, Managing Partner of Calder Capital, LLC, noted that the pace of Squeegee Squad’s continuous growth occurs at an opportune time to capitalize on a growing Grand Rapids market. “Squeegee Squad is at a prime time to take advantage of record level demand and with the key customers relationships they have developed they are in an excellent spot,” Friar noted that the pace of acquisitions continues to be strong. “We have closed 7 transactions with number 8 on the way. This is a record amount of closings for us through May and we do not see interest waning. It’s a great time to be in M&A in West Michigan!”

Calder Capital served as the exclusive M&A advisor to Squeegee Squad.

 

About Calder Capital, LLC

Calder Capital, based in Grand Rapids, MI, is a leading provider of comprehensive mergers and acquisitions advisory services. Calder advises clients in all industries using a results-oriented focus and multidisciplinary approach in order to achieve the optimal outcome. For more information, please visit www.caldergr.com.

Investor Seeks Chemicals / Manufacturing Company Acquisition in Northern Indiana, Southern Michigan, or Western Ohio


Calder Capital has been retained to assist an investor with his acquisition strategy. Our Client is seeking chemicals, water chemicals, adhesives, lubricants, and similar manufacturing companies in Northern Indiana, Western Ohio, and Southern Michigan.

Acquisition Criteria

Target: Established chemicals, water chemicals, adhesives, lubricants, and similar manufacturing companies

Geography: Northern Indiana, Western Ohio, and Southern Michigan

Revenue: $1 million – 10 million

Cash Flow: $200,000 – 1 million

Valuation/Deal Structure: The Investor is flexible in regards to deal structure; he is open to 100% buyouts or controlling-interest positions that allow the Seller to cash out over time, potentially at a higher price.

Track Record/Profitability: The Investor is looking for profitable companies with an established history and track record in the industry.

Time Frame: Investor will give preference to companies that wish to complete a transaction quickly.

 

 

About the Investor

As a business and strategy leader who has transformed units of multi-billion dollar corporations, our client is looking to leverage this experience and acquire a mid-sized chemicals, water chemicals, adhesives, lubricants, or similar manufacturing business in the Midwest. The Investor designs and implements revolutionary strategies that maximize revenue growth and streamline operations. His achievements include launching successful strategies for market expansion, new market entry, e-commerce solutions, and business process transformation.  

The Investor has extensive experience in human resources and personnel management, operations, strategic management, distribution and retail operations, sales management and other relevant areas. As a high-level strategist with operational intelligence, the Investor knows how to transform businesses into market leaders. The investor has several highly distinguished degrees including a Bachelor of Technology in Chemical Engineering, a MS in Polymer Chemistry, a PhD in Polymer Science, and an MBA with a concentration in marketing strategy and general management. Our client believes that this background and experience, together with the history and track record of an established chemicals business, will help him in aggressively growing this business

 

If you are interested, or know of a potentially interested party, please contact: 

Patrick Robey
Direct: 517-240-2895
patrick@caldergr.com

 

Westshore Design Seeks to Acquire West Michigan Engineering and Controls Business

Calder Capital has been retained to assist Westshore design, a West Michigan software, electrical and mechanical manufacturing and engineering company, with its strategy to acquire a company with similar capabilities. Westshore is in Holland, Michigan and has broad experience in embedded controls, instrumentation, automotive, industrial, medical, and various LED lighting applications.

Acquisition Criteria

Target: B2B businesses specifically involved in electronics design and manufacturing, PCB boards, LED lighting, controls etc.

Geography: West Michigan (Greater-Grand Rapids, Lakeshore)

Revenue: $3 million to $12 million

Cash Flow: $750,000 to $3 million

Valuation/Deal Structure: The Acquirer is flexible regarding deal structure; they are open to the seller keeping a minority share in the business but would prefer 100% buyout.

Manufacturing Capabilities: Embedded controls, instrumentation, automotive, industrial, medical, and various LED lighting applications capabilities. 

Management Situations: The Acquirer is flexible in terms of the management situation and whether the current management team would like to stay on post-close.

Profitability: The Acquirer is looking for established businesses with proven profitability.

About the Company

Founded in 2003, Westshore Design is a leader in servicing industrial and commercial manufacturers of high end quality products. They have combined a strong service offering and broad manufacturing capabilities with deep industry knowledge and development strategies to become one of most effective electronic engineering and manufacturing firms in West Michigan. This allows them to not only provide clients with the optimal products, but also sets the foundation for future growth. 

Westshore Design would like to leverage its infrastructure and expertise in the industry to grow vertically via acquisitions. They are looking for opportunities with businesses that specialize in electronic engineering and design, electronics assembly and manufacturing, PCB boards, LED lighting, controls and other similar products and capabilities.

 

If you are interested or know of a potentially interested party, please contact:

Patrick Robey
Direct: 517-240-2895
patrick@caldergr.com

 

Highly Profitable Tree Service Company (Under LOI)

This opportunity is presently under exclusive Letter of Intent and cannot be discussed. Please submit your information below. We will contact you if this opportunity again becomes available. Thank you!

This well-established business offers several tree services to a diverse base of both commercial and residential customers. Its services include tree trimming, grinding, stump removal, and more. The Company has an equipment base that far exceeds that of other industry operators. On top of that, cash flow margins have been consistently high as the business generates a significant amount of cash annually.

The owners oversee several business interests and have decided to transition the Company to new ownership. They are willing to provide assistance to a new owner through a reasonable transition period.

Financial Snapshot

Asking Price: $950,000

2017 Revenue: 913,524

2017 Cash Flow: 386,857

 

Investment Highlights

1) Extensive Equipment Portfolio: The Company holds a large amount of high value equipment that provides a competitive advantage. Another crew of tree servicers could be hired without the need for further equipment investment.

2) Cash Flow Generation: The Company has been able to maintain high cash flow margins. This has allowed for the advanced investment in equipment without the need for debt.

3) Reputability: The Company has become well-known in the area for the quality of services provided. Customers are advocates for the Company online and provide word-of-mouth referrals on behalf of the Company.

 

Growth Opportunities

1) Enhanced Marketing Strategy

2) Underutilized Equipment

3) Focused Management

 

The BEST way to receive confidential information about this opportunity is to fill out the form below.

Upon doing so you will be redirected to review and sign our confidentiality agreement. Once signed we will be able to further the conversation and send you the confidential Offering Documents. Interested parties must demonstrate proof of financial capability and sign a Non-Disclosure Agreement. Please contact info@caldergr.com with any questions. Inquire today about this profitable and growing tree service business for sale in Northern Indiana!

Profitable Machinery Moving Business for Sale

OVERVIEW

Located in the Midwest and serving a large region that extends into Illinois, Ohio and Michigan, the Company has earned a reputation for its quality and professionalism. The business is a highly profitable operation with decades of experience specializing in complete, turn-key plant relocation, hassle-free machinery moving, rigging, machine assembly, disassembly, and electrical equipment hookup.

Ownership has decided it is time to transition the business to new owners with a vision to grow and sustain the business for many more years to come.

 

 

 

FINANCIAL SUMMARY

2017 Sales: $3,555,848

2017 EBITDA: $819,174

 

INVESTMENT HIGHLIGHTS

Extremely Profitable: Over the past three years, the business Net Income has averaged more than 10% of revenue and cash flow has averaged 20%. The Company does not compete on price – it competes on capability and quality. It specializes in the most challenging and complicated machinery moving projects.

A Company Backed up by Hard Assets: The individual or organization that purchases the business will not only be purchasing a strong and consistent cash flow, but an array of well-maintained equipment and vehicles. These hard assets will be useful to a new owner if they choose to use bank financing for the transaction.

Experienced Employee Base: The company’s employees are highly skilled and can operate the business with little supervision.

Customer Diversification: In 2017, the business served over 150 customers from a broad swath of industries. Its top customer was responsible for less than 20% of revenue.

 

 

GROWTH OPPORTUNITIES

Reshoring Trend: There is an increase in reshoring of manufacturing activities in the United States. Driving this trend are favorable economic conditions; automation, robotics, and the Internet of Things; reduced domestic energy costs; lowered corporate tax rate; aggressive tax incentives from various states; as well as increased labor costs overseas.

Ancillary Services: Machinery moving requires many ancillary skills and capabilities. A new owner may choose to bring in-house certain services that it currently subcontracts. These include Engineering, Crane Rental, Electrical Service, Engineering, Concrete Work, Long Distance Trucking and Freight Forwarding Services.

 

The BEST way to receive confidential information about this opportunity is to fill out the form below.

Upon doing so you will receive a link via email to review and sign our confidentiality agreement. Once signed we will be able to further the conversation and send you the confidential Offering Documents. Please contact info@caldergr.com with any questions. Interested parties must demonstrate proof of financial capability, sign a Non-Disclosure Agreement, and answer a few questions related to their background and interests. Inquire today about this profitable machinery moving business!

Profitable & Diversified Metal Fabricating and Machining Company For Sale

Established in West Michigan over a decade ago, this Company assists businesses throughout the region in the development and manufacturing of fabricated metal solutions, machined parts, and assemblies. The sellers, who typically work thirty to thirty-five hours per week, refer to the Company as a “Money Making Machine” and rightfully so. However, instead of simply pulling money out of the business, they have re-invested in equipment and expansion to help ensure the Company’s long-term success.

While the Company specializes in sheet metal fabrication, its wide array of internal equipment and capabilities enable it to solve numerous and complex manufacturing challenges for its large and ever-growing customer base. These customers include manufacturers in the furniture, industrial technologies, lighting, and OEM industries.

This is a very profitable and stable business, with diversified and long-standing customers and loyal, reliable employees. Both characteristics are the direct result of the Company’s unwavering commitment to ethical behavior and excellence.

The sellers have reached retirement age, but are open to staying on with the Company post-transaction to assist with the transfer of knowledge and relationships.

Financial Overview

2017 Revenue: $1,500,553

2017 Cash Flow: $543,637

 

This is a very profitable and stable business, with diversified and long-standing customers and loyal, reliable employees.

Investment Highlights

Substantial and Strategic Reinvestment
Since 2010, the Company has invested nearly $1M in an expansion, equipment purchases, and upgrades. The Company is perfectly positioned for continued growth and success with minimal investment.

Total Customer Solution is a Competitive Advantage
The company sets itself apart from the competition by offering a suite of customer solutions, from design through finished products/assemblies. Additionally, the Company offers design/engineering support and its manufacturing capabilities include sheet metal and machining, which few competitors in the area offer to the extent that the Company does.

Broad, Diverse, and Loyal Customer-base
The Company’s customer base is comprised of over 300+ customers from diverse industries. Its top four customers (which comprise 65% of total revenue) have all been doing business with the Company for at least 10 years.

Proven Sales Reps
Although sales reps are rare among small manufacturers in West Michigan, the Company has nurtured several loyal reps that consistently send high-margin work to the Company. Two of these sales reps are from outside of the West Michigan region, adding geographic diversity to the Company’s customer-base.

Since 2010, the Company has invested nearly $1M in an expansion, equipment purchases, and upgrades. The Company is perfectly positioned for continued growth and success with no/minimal investment.

Growth Opportunities

Invest in Turret Press
Acquiring a turret press (low-cost metal punching instead of laser cutting) would help the Company go after some “cost sensitive” customers. The facility could be expanded to accommodate such a piece of equipment.

Pursue Additional Complex Work
Go after more business that involves not only sheet metal fab but also machined parts to be assembled/welded. This business is very profitable because not many fabricators in the area can do it in a timely manner with a sufficient level of quality.

Custom One-off Projects
Local furniture companies outsource their work for trade show booths and prototype development. With the addition of the right person, this could become a nice opportunity/niche for growth.

 

The BEST WAY to receive confidential information about this opportunity is to fill out the form below.

Upon doing so you will receive a link via email to review and sign our confidentiality agreement. Once signed we will be able to confirm with the owner and then send you the confidential Offering Documents. Please contact us at info@caldergr.com with any questions. Interested parties must demonstrate proof of financial capability, sign a Non-Disclosure Agreement, and answer a few brief questions. Inquire today about this profitable metal fabricating and machining company!

Calder Capital, LLC

Click to Call: 616-965-2771

Toll Free: 844-452-4445