Calder Capital/SBDA Crush Transaction & Sales Records

With the successful sale of manufacturer Kelm-Acubar on 12/30/22, the Calder Capital/SBDA team completed transaction #46 for 2022 obliterating previous annual transaction and revenue records. This is despite global M&A deal volume declining -34% through the first three quarters of 2022 vs 2021 and a whopping -58% in the 3rd quarter of 2022 vs 2021 (Source: Refinitiv / S&P Global). Calder reported 57% revenue growth year-over-year and three-year revenue growth of 383%, setting the firm up for another Inc 5000 year. 

“The tone of 2022 was not a pleasant one and we have had to turn up the grind,” noted Max Friar, Calder’s Managing Partner. “The headlines and macroeconomic picture were dark clouds following us all year. Fortunately, there is nothing that we can do about that. What we can impact is our team, and our focus on setting stretch goals and executing in a steady, disciplined, and determined way. This is what we did all year. In 2022, we renewed our focus on approaching prospects, clients, buyers, and sellers and being very direct and honest with them about what to expect should they embark on a purchase or divestiture.”

Friar continued, “The buyer pool has thinned, weeding out many non-serious buyers, and sellers are more understanding that perhaps the best time to sell has passed for a bit. Being grounded in reality is a positive development and is helping to make deals happen. When sellers are grounded in reality, we are able to consistently deliver multiple offers and multiple buyers to every seller that we work with. Likewise, on the buy-side, we are consistently finding solid off-market sellers at fair prices for our buy-side clients.”

In terms of the types of transactions that are getting done by Calder/SBDA in 2022, service (41%) and manufacturing (30%) transactions lead the way, distribution (15%) and construction (9%) were in the middle of the pack, and sales of restaurants/retail/hospitality came in at the bottom (4% collectively). 

Comparing 2021 to 2022, we saw many more manufacturing opportunities resurface while business services continue to perform very well. 

Here is a complete list of Calder/SBDA closings through December 31, 2022.

More granularly from an industry standpoint, the breakdown of deals has been as follows.

 

Beyond a diversity of industries, Calder/SBDA continues to expand its geographic reach, closing transactions in 2022 in Michigan, Georgia, Iowa, Kentucky, North Dakota, Illinois, Minnesota, and North Carolina. 

Friar concluded, “Owners continue to feel burned out by the doom cycle in the news, the inability to recruit the employees that they need, and the lingering supply chain and energy impacts of COVID and the Ukraine war. Many owners wished that they had sold in 2021 or 2022, however, many are also thinking that they may as well sell now before things turn potentially uglier.”

“At Calder, we are firing on all cylinders. Revenue is up 57% versus 2021. Our sales team is performing exceptionally well, signing on new clients at a rapid pace, which will result in more closed deals in Q1 and Q2 2023. We have spent the entire year becoming more and more disciplined about tracking our sales targets. Additionally, we have continued to invest in our team. 

About Calder Capital, LLC

Founded in 2013 by Max Friar, Calder Capital, LLC is a lower middle-market M&A Advisory Firm focused on representing buyers and sellers with enterprise value from $1-250MM primarily in manufacturing, business services, and distribution. Calder represents sellers primarily in the Midwest and buyers nationwide. 

About Small Business Deal Advisors, LLC

Founded in 2017 by Max Friar and Matthew Baas, Small Business Deal Advisors, LLC is a business intermediary firm focused on serving small, traditionally underserved sellers of businesses with enterprise value generally less than $1MM. SBDA’s clients are customarily franchised re-sales, light industrial, restaurants, and business and personal services. SBDA represents sellers nationwide and in Canada. 

If you are interested in selling your company, please contact us confidentially.