January 2020 – Calder Capital, LLC is pleased to announce that it has represented Topps Safety Apparel (“Topps”) in its successful sale to Pinnacle Textile Industries, LLC (“Pinnacle Textile”). Topps Safety Apparel, based in Rochester, IN, is a leading designer and manufacturer of public safety and flame resistant industrial apparel. Headquartered in Rochester, IN, Topps offers a complete range of premium flame-resistant and public safety garments, including NOMEX® garments, wildland fire fighting, extrication suits, EMS gear, squad suits, tactical wear, lined coveralls, and uniform suits. The products are manufactured out of the company’s Edmonton, KY plant and are sold through a network of distributors and garment rental companies. The distributors sell into several markets including oil and gas, petrochemical plants, gas and electric utility providers, and wildland fire fighting. Topps Safety Apparel was originally founded by the Elin brothers in 1938 as Toppmaster. In the 1990s, Topps became one of the first manufacturers to attain (UL) certification of compliance with NFPA standards. Alan Dorrell, president and CEO, purchased Topps through BTQ, Inc., the US Division of BTQ Group, a United Kingdom-based holding company of entities that specialize in protective clothing for people at work. While Alan has thoroughly enjoyed managing […]
Wyoming, MI-based Precise CNC Routing, Inc. Acquired by Individual Investors!
December 2019 – Calder Capital is pleased to announce the successful acquisition of Wyoming, MI-based Precise CNC Routing, Inc. by local investors David and Carey Lefere. Established in 1995 by Rick Lemson, Precise CNC Routing is a family business that values commitment to problem-solving and customer service above all things. Precise CNC Routing offers a wide range of services to its customers including CNC machining, digital and screen printing, wood powder coating, plastic fabrication, and fulfillment. Having operated the business for almost 25 years, Mr. Lemson engaged with Calder Capital as he desired to pursue retirement with his wife, Laura. After spending years building the Company, Rick strongly desired a new owner who would carry on the outstanding reputation Precise CNC Routing had established with their customers and ensure the Company was successful long into the future. Calder Capital immediately began searching for a buyer for Precise CNC Routing. Mr. Lemson made his decision when Calder introduced him to David and Carey Lefere, who pursued the acquisition diligently and expediently. From start to finish, the transaction took only 4 months. The buyers of Precise CNC Routing are a perfect fit for the Company. Mr. Lefere is well-versed in the industry, […]
Calder/SBDA Continue to Smash Own Record with 21st Closing of 2019!
Recent Mergers & Acquisitions 2019 December 2019 – The Calder Capital/SBDA Team is very pleased to announce the expansion of its closing record with the successful sourcing of an equity investment for Augusta, MI-based Turf Works Supply. Calder Advisor Ghazey Aleck served as the lead project manager. According to Calder Managing Partner, Max Friar, “2019 is nearing its end but our firms continue to produce results. I am very thankful for the continued effort that our team members provide daily. M&A can be a rollercoaster and it takes grit to thrive in this industry.” Year-to-date Calder Capital has closed 12 transactions and Small Business Deal Advisors has closed 9. Here is a listing of recent mergers and acquisitions 2019 from the Calder/SBDA Teams: Company Name City Broker 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 Grand Rapids, MI Calder Distribution Laundry Tyme Douglas, MI SBDA Retail Jamestown Quik Stop […]
Individual Investor Provides Growth Equity for Turf Works!
December 2019 – Calder Capital is pleased to announce the successful sourcing of an equity investor for Augusta, Michigan-based Turf Works. Turf Works approached Calder Capital in 2019 seeking to grow and build upon the Company’s current customer base. After consulting with Calder Capital’s Managing Partner, Max Friar, it was decided that the best move going forward was not to pursue a sale but instead to look for an investor willing to provide growth capital. After considerable searching, Calder Capital introduced an individual investor who proved to be a perfect fit. Turf Works co-owners, Mr. Konkle and Mr. Boucher weighed in, “Thank you to the Calder Capital team for your patience and flexibility working with us. While we went back and forth debating whether to sell our Company, Max never pressured us in any direction. Calder Capital provided us with several quality investors and after careful consideration, we are very pleased with our new partner and believe we have succeeded in beginning to take our Company to the next level.” According to Calder Capital owner, Max Friar, “We are very pleased with the outcome of this transaction. When people think about mergers and acquisitions they generally do not think about […]
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, […]