New York, New York – Calder Capital, a leading middle-market investment bank, is proud to announce its recognition as a finalist at the 24th Annual M&A Advisor Awards in the category of Private Equity Deal of the Year. The honor highlights Calder’s role as the Sell-Side advisor in the sale of Harlo Products, a Grandville, Michigan-based manufacturer of rough terrain forklifts, to Borgman Capital, a Milwaukee-based private equity firm.
Founded in 1949, Harlo has long been a trusted name in the materials handling industry, known for its high-quality products and commitment to its customers. The ownership group sought a partner who could honor Harlo’s 75-year legacy while investing in its team and future. Calder Capital played a critical role in identifying and securing Borgman Capital as that partner, ensuring both continuity and growth.
“It’s an incredible honor to be named a finalist for Private Equity Deal of the Year,” remarked Calder Capital Founder Max Friar. “We’re thrilled to see Harlo’s future in the hands of such a capable and committed partner in Borgman Capital. We extend our gratitude to Harlo’s owners for entrusting us with the opportunity to pair their legacy company with a forward-thinking investor who will carry the business confidently into its next chapter of growth.”
The transaction required careful coordination of founder goals, employee considerations, and investor strategy. Calder’s expertise in structuring the deal, navigating due diligence, and aligning stakeholder interests was key to its success.
Borgman’s growth strategy centers on expanding its workforce, enhancing operational efficiency, and driving product innovation. The firm has identified opportunities to enter new U.S. markets and strengthen its dealer network by addressing existing coverage gaps. Among the process improvements already implemented and expected to grow is the addition of a robotic welding cell to support scalable production. Borgman also plans to further invest in the official launch of a new compact forklift featuring modular attachments, including a shovel and rake, broadening the company’s reach into new markets nationwide. A prototype of the model was showcased earlier this year at the World AG Fair in California.
The transaction preserves Harlo’s proud legacy and the livelihoods of its employees while positioning the company for long-term success under the guidance of a capable and patient ownership group. For stakeholders, including employees, customers, and dealers, this partnership ensures stability, sustainable growth, and the continued stewardship of one of the most trusted names in rough-terrain forklifts.
For a complete list of the award finalists from the 24th Annual M&A Advisor Awards, please click here.
To read the full press release about the acquisition, please click here.
About The M&A Advisor:
Now in its 27th year, The M&A Advisor was founded to offer insights and intelligence on mergers and acquisitions, establishing the industry’s leading media outlet in 1998. Today, the firm is recognized as the world’s premier leadership organization for mergers & acquisitions, restructuring, and corporate finance professionals, delivering a range of integrated services to accelerate the pace of dealmaking. Learn more at www.MaAdvisor.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.