A guest blog post by the Voisard Asset Management Group on the power of the Charitable Remainder Unitrust for estate, business and tax planning purposes.
Performance Plus Acquires Colonial Car Wash and Oil Exchange, Inc.
November 2019 – Calder Capital is pleased to announce the successful acquisition of Farmington, Michigan-based Colonial Oil Exchange by Holland, MI-based Performance Plus Quick Lubes. Performance Plus is a Holland, MI-based chain of over 30 retail quick lube locations across the State of Michigan. The Company provides a full-service offering including oil changes, coolant flushes, and other preventative maintenance services. The Company prides itself on professional, fast, convenient, and friendly service. Performance Plus Quick Lubes offers both consumer and commercial fleet oil change and preventative maintenance. A second-generation family-owned business, Performance Plus approached Calder Capital in 2019 seeking to grow and build upon the Company’s outstanding lubes and oil change business with a multi-pronged acquisition strategy. The Company’s strategy included acquisition targets within its oil change business, both single location, and multi-location oil change chains as well as lubes distribution businesses to expand the Company’s geographic reach. After evaluating several opportunities presented by Calder, Performance Plus took a special interest in Colonial Oil Exchange out of Farmington, Michigan. Colonial contained two key businesses of interest, a Car Wash division recognized by the Michigan Car Wash Association as the “Best Car Wash” in 2000 and the Oil Exchange operation offering a […]
Recent Mergers and Acquisitions Trends Q3 2019
It’s More Than Just the Multiples! Recently, the IBBA and M&A Source published their Q3 2019 Market Pulse Report, which gives an excellent synopsized take on the state of the recent market. The Q3 2019 survey was conducted from October 1-15, 2019 and was completed by 236 business brokers and M&A advisors covering 210 transactions. Valuation Multiples! Let’s start with what everyone wants to know: the multiples! Highlighted in yellow are reported Q3 2019 multiples by the size of the transaction. The chart then shows the same multiples in past years dating back to 2014 for comparative purposes. It’s important to explain what we are looking at because there is perennially a lot of confusion in the market over what the multiples are based on. For transactions valued up to $2MM, the multiple shown is the median multiple paid on Sellers Discretionary Earnings (SDE). What this means is that the analyst starts with net income and then adds back interest, depreciation, amortization, taxes (any income taxes paid through the P&L, not FICA), owner perks and benefits, and the total W2 wages of the owner. Or, if there is more than one owner, all owners’ W2 wages may be added back […]
Calder Capital/SBDA Continues Closing Clout With Deal #20 of 2019!
Recent Mergers & Acquisitions 2019 November 2019 – The Calder Capital/Small Business Deal Advisors Team is proud to announce the extension of their closing record with the successful acquisition of Colonial Oil Exchange, Inc. of Farmington, MI by Performance Plus Quick Lubes of Holland, MI. Patrick Robey served as lead advisor to Performance Plus. According to Calder Managing Partner, Max Friar, “2019 continues to be a very successful year for our M&A firms. Closing 20 transactions is an achievement that few M&A firms ever attain and I attribute the success 100% to our team’s persistence and dedication. Every day our team gets up and rises to the challenge!” Year-to-date Calder Capital has closed 11 transactions and Small Business Deal Advisors has closed 9. Here is a listing of recent mergers and acquisitions 2019 from the Calder/SBDA Teams: Client Name Location Advisor Type Think Chromatic, LLC Grand Rapids, MI Calder Service Precision Engineering & Manufacturing, Inc. Nunica, MI Calder Manufacturing GP Manufacturing, Inc. Buchanan, MI Calder Manufacturing Fry Nation, LLC Grandville, MI SBDA Restaurant Fortune Chef Caledonia, MI SBDA Restaurant Bazzani Associates, Inc. Grand Rapids, MI SBDA Service CNC Products, Inc. Niles, MI Calder Manufacturing Fabtec Enterprises, Inc. Byron Center, MI Calder Manufacturing Power Supply […]
How Much Is Enough?
The Calder Capital/Small Business Deal Advisors Team is extremely pleased to announce that they have broken their own closing record of 18 transactions in 2018 with the successful closing of transaction #19, Marco’s New American Bistro, by Small Business Deal Advisor’s Doug Yntema on October 9, 2019.
Calder Capital/Small Business Deal Advisors Team Surpasses Own Record with 19 Closings in 2019
The Calder Capital/Small Business Deal Advisors Team is extremely pleased to announce that they have broken their own closing record of 18 transactions in 2018 with the successful closing of transaction #19, Marco’s New American Bistro, by Small Business Deal Advisor’s Doug Yntema on October 9, 2019.
Muskegon, MI-Based Iroquois Hoods Acquired by Individual Investors!
October 2019 – Calder Capital is pleased to announce the successful acquisition of Muskegon, MI-based Iroquois Hoods by individual West Michigan entrepreneurs Rick Claypool and Nate Thornton. Founded 60+ years ago, Iroquois Hoods is manufacturer of laboratory furniture with an emphasis on custom fume hood products. Fume hoods are local ventilation devices that are designed to decrease an individual’s exposure to hazardous or toxic fumes, vapors, or dust. Fume hoods are considered one of the most important controls within laboratories, keeping workers protected by confining volatile fumes and toxins, removing them from the airflow, and then disposing of them via a laboratory exhaust system. Being one of the most important components of a laboratory, thousands of customers rely on the quality and proper development of these hoods to work appropriately and protect their employees. With over 60 years in the business, Iroquois Hoods has built a reputation on providing high quality, low volume fume hood solutions to a diversified base of customers primarily in the higher education, scientific, manufacturing and governmental markets. Michael Gross, who acquired the business in 2001, has spent years building the company into the well-established business that it is today. After spending years with the company, […]
M&A Market Trends & Statistics Q2 2019
The International Business Brokers Association Q2 2019 Market Pulse recently came out. The Market Pulse Report is one of the most insightful reports on the state of the market and includes the aggregate results of surveys conducted in July 2019 of 288 M&A Advisors. Insights include deal multiples, deal structure, types and motivation of buyers, the timing of the sale, and general commentary from advisors. Here is the full report: IBBA Market Pulse. Hot Industries: Construction/engineering and business services companies lead among hot industries. This is the first time construction/engineering has held such a prominent share of market activity. “Construction activity is hot right now. Companies have strong balance sheets, so they’re expanding their facilities and state and local governments are reinvesting in roads. It makes sense that construction companies are selling now and getting out while things are good,” said Lisa Riley, LINK Business-Phoenix. Who’s Buying? Leading buyers for companies valued between $1 to 5 million have been first-time buyers and serial entrepreneurs, followed by existing companies. Leading buyers for companies valued greater than $5 million have been existing companies (54%) followed by private equity (31%). The primary motivations for the acquisitions of these size companies are gaining a […]
Zeeland, MI-Based Pi Optima Manufacturing, Inc., Acquired by an Individual Investor!
August 2019 – Calder Capital, LLC is pleased to announce the sale of Pi Optima Manufacturing, Inc. of Zeeland, Michigan to an individual investor. Pi Optima is a niche machine shop specializing in custom fixture solutions and magnesium machining. Pi’s customers consist of automotive and aerospace manufacturers nationwide.
Market Update – A Breakdown of Bizbuysell.com’s Q2 Transaction Activity Report
Bizbuysell.com’s National Business-for-Sale Trends and Q2 2019 Transaction Activity Report was recently published and I wanted to share with you a quick synopsis of the data. Bizbuysell.com’s Transaction Activity Report is one of the most insightful reports on the state of the market and includes the aggregate results of thousands of small business transactions nationwide during the present year. Here are the Highlights: Continued Strong Sales Activity: Business sales are down 9.8% compared to 2018, but continue to be very strong relative to the past decade. So far, 2019 is the second most active business-for-sale market since BizBuySell started tracking data in 2007. In 2018, Calder Capital/Small Business Deal Advisors (SBDA) closed 18 transactions all year. Thus far in 2019, we have closed 17 transactions and are on track to broadly beat last year’s company record. We continue to witness strong interest from sellers and buyers in getting transactions to the finish line. Median Revenue of Sold Businesses: The median revenue of all sold businesses rose 14.3% to $601,380, the highest mark on record. Much of that growth can be attributed to the retail and service industries, where the median revenue increased by 20% and 17% respectively compared to Q2 […]