With the successful acquisition of Grand Rapids, MI-based West Michigan Technical Supply/The Bolt Bin, the Calder Capital/SBDA team crushed an unprecedented milestone of 40 successfully closed transactions in 2020.
“What a remarkable year!” noted Max Friar, Calder’s Founder and Managing Partner. “I’m only a slightly superstitious person and it sure is interesting how ’40’ surrounded 2020. 40 closings, I received the 40 Under 40 Award, and I turned 40. All great things except the latter,” he chuckled.
Friar continued, “We ended the year up 73% in transaction volume with 112% revenue growth. I feel like this is quite an accomplishment considering that industry-wide transactions are down 22% for small businesses and 13-15% for all transactions domestically and internationally.”
In terms of the types of transactions that are getting done by Calder/SBDA in 2020, manufacturing (33%), service (28%), and distribution (18%) transactions lead the way with restaurant, technology, construction, and retail rounding out the industry list.
Here is a complete list of Calder/SBDA closings through December 31, 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/Tech|
|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|
|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|
|Waseyabek Development Corp||Muskegon, MI||Calder||Strategic||Manufacturing|
|Environmental Products Manufacturer||Candler, GA||Calder||Strategic||Manufacturing|
|Castle Brewing Co||Greenville, MI||SBDA||Strategic||Restaurant|
|Bridal Gallery||Grand Rapids, MI||SBDA||Strategic||Retail|
|Integrated Manufacturing Concepts||Ceresco, MI||Calder||Individual||Manufacturing|
|Oinks Dutch Treat||New Buffalo, MI||SBDA||Individual||Restaurant|
|Foam Works||Ludington, MI||SBDA||Individual||Construction|
|Window Genie||Olathe, KS||SBDA||Individual||Service|
|Days Machinery Movers||Elkhart, IN||Calder||Strategic||Service|
|Major Brands Oil||Holland, MI||Calder||Strategic||Distribution|
|HEI Wireless||Benton Harbor, MI||Calder||Individual||Service|
|Ink Addict||Ferndale, MI||SBDA||Strategic||Distribution/eCommerce|
|Michigan Woodwork||Williamston, MI||Calder||Individuals||Manufacturing|
|Michigan Chandelier||Southfield, MI||Calder||Private Equity||Distribution|
|Power Manufacturing, Inc.||Elkhart, IN||Calder||Individual||Manufacturing|
|Custom Millwork & Display, Inc.||South Bend, IN||Calder||Individual||Manufacturing|
|Lubricants Distribution Company||Farmington Hills, MI||SBDA||Strategic||Distribution|
|Holistic Medicine Practitioner||Grand Rapids, MI||SBDA||Individual||Service|
|The Bolt Bin||Grand Rapids, MI||Calder||Individual||Distribution|
Overall, from an industry standpoint, the breakdown of deals has been as follows:
- Manufacturing – 33%
- Service – 28%
- Distribution – 18%
- Restaurant – 13%
- Technology – 5%
- Construction – 3%
- Retail – 3%
21 transactions have been in Western Michigan, 10 in out-state Michigan, and 9 in other states including Indiana (4), New York, Iowa, Georgia, Kansas, and Minnesota. Among the buyers, 23 have been individuals, 14 have been strategic buyers, and 3 have been private equity/investment groups.
Friar concluded, “With the election finalized and COVID vaccines rolling out, I am very confident that 2021 will be a strong year. Based on the decline in transactions nationwide during 2020, it is clear that many sellers are on the sidelines. Many of those will come to the market in 2021 and we are seeing them already start to surface.”
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.