With the recent acquisition of Re-Source Industries by Waséyabek Development Company, Calder Capital/SBDA have successfully pushed transaction #21 of 2020 over the finish line, continuing the firms’ record-smashing pace and bringing the realistic possibility of 30 – 2020 closings into sight.
“It’s unbelievable to me. I never imagined that we would achieve this level of transactions when I founded Calder seven years ago,” noted Max Friar, Managing Partner. “We did not achieve 21 closings until December last year. We only need three more closings to beat our record of 23,” highlighted Friar. “We have a growing backlog of clients under contract that should close over the next few months. I anticipate that we ride out 2020 on a very strong note.”
Friar continued, “I am encouraged at the increased number of manufacturing transactions we are handling. Our last three closings have all been Western Michigan-based manufacturing companies: C.G. Witvoet in Grand Rapids, Elite Tooling in Kalamazoo, and Re-Source Industries in Muskegon. Historically, about 40-50% of our transactions have been manufacturing and I’m encouraged to see that percentage ticking up!”
Here is a complete list of Calder/SBDA closings through August 29, 2020.
|Client||City of Client||Advisor||Buyer Type||Industry|
|Laser Access, Inc.||Grand Rapids, MI||Calder||Individual||Manufacturing|
|Topps Safety Apparel, Inc.||Rochester, IN||Calder||Strategic||Manufacturing|
|Premier Paper & Supplies, Inc.||Grand Rapids, MI||SBDA||Strategic||Distribution|
|Family Wellness Center||Midland, MI||SBDA||Individual||Service|
|Family Fitness||Holland, MI||SBDA||Individual||Service|
|D.C. Martin & Sons Scales, Inc.||Grand Rapids, MI||Calder||Strategic||Distribution|
|Boelcke Heating & Air Conditioning||Stevensville, MI||Calder||Individual||Service|
|Foxbright||Grand Rapids, MI||Calder||Individual||Service|
|Campbell Murch Memorials||Mattawan, MI||SBDA||Strategic||Manufacturing|
|College H.U.N.K.S.||Des Moines, IA||SBDA||Individual||Service|
|2B Studios||Ada, MI||SBDA||Individual||Service|
|eVideon/Spectrum Health Ventures||Wyoming, MI||Calder||Strategic||Healthcare Manufacturing|
|Graphics Embossed Imaging||Grand Rapids, MI||Calder||Individual||Manufacturing|
|Dickey’s BBQ Pit||Novi, MI||SBDA||Individual||Restaurant|
|Stonewall Road Automotive Group, LLC||SE Michigan||Calder||Private Equity||Service|
|Electric Motor Service||Grand Rapids, MI||SBDA||Individual||Service|
|A&W Restaurant||St. Charles, MN||SBDA||Individual||Restaurant|
|Corridor Coffee||Grand Rapids, MI||SBDA||Individuals||Restaurant|
|CG Witvoet & Sons, Inc||Grand Rapids, MI||Calder||Investment Group||Manufacturing|
|Elite Tooling||Kalamazoo, MI||Calder||Strategic||Manufacturing|
|Re-Source Industries||Muskegon, MI||Calder||Strategic||Manufacturing|
Overall, from an industry standpoint, the breakdown of deals has been as follows:
- Service – 38%
- Manufacturing – 38%
- Restaurant – 14%
- Distribution – 10%
13 transactions have been in West Michigan, 4 in out-state Michigan, and 4 in other states including Indiana, New York, Iowa, and Minnesota. Among the buyers, 12 have been individuals, 7 have been strategic buyers, and 2 have been private equity/investment groups.
Regarding the market as a whole, Friar had the following to say, “Buyers are very aggressively pursuing businesses that are pandemic-resistant. They are willing to pay strong multiples for solid businesses. During the peak months of COVID, sellers were very quiet. We are starting to see seller activity pick up. I imagine that we will have a strong fall for new engagements. All in all, things feel pretty good.”
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 $2-100MM primarily in the segments of 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.