Calder Capital, LLC is proud to announce the successful acquisition of Central Oil Co. of Warren, MI by Major Brands Lubricants & Oil of Holland, MI. Owned and managed by second-generation owners Kyle and Justin Klingenberg, Major Brands has had over 30 years of steady and measured growth, resulting in one of the premier branded lubricants and oil distribution suppliers in the country. Central Oil is focused on providing customers with the highest quality coolants, lubricants, oils, and specialty chemicals products in the fastest and most cost-effective manner possible, making it an exceptional addition to Major Brand Oil & Lubricants. Central offers SE Michigan and Ohio geographic and strategic marketing positioning from a distribution footprint perspective for Major Brands, while also growing Major’s presence in diversified industrial lubricants. Additionally, Central offers blending and mixing capabilities previously not in-house at Major. Central Oil and Major Brands have been in talks for the last year and a half, and although there were some minor delays due to the current COVID-19 pandemic, the owners of the two companies were able to work toward a mutually beneficial closing in November. Incorporated in 1981, Major Brands Oil Company continues the tradition of a Michigan family […]
Calder Founder Max Friar Selected for Grand Rapids Top 200 List!
Calder Capital, LLC is pleased to announce that Managing Partner, Max Friar, made the Grand Rapids 200! The Grand Rapids 200 is a comprehensive list of the top 200 executives in Grand Rapids compiled yearly by the Grand Rapids Business Journal. This list is compiled based on a number of factors including the size of a given company or organization, growth rate, geographical reach, and extensive personal contacts. 2020 has been a big year for Friar. He also made the Grand Rapids Business Journal’s 40 Under 40 list, Calder Capital/SBDA just closed record deal #35 of 2020, and the firm has several more deals racing towards the finish line before December 31. If you think this successful year means that he’s earned himself a chance to phone it in 2021, you might be right, but this isn’t Friar’s style. “I was pretty excited that 2019 was a record year, and that only motivated me to make 2020 bigger and better. I’m proud of what the firm was able to accomplish, especially through the pandemic, and I think next year will be massive.” Growth is certainly what Friar fosters at Calder Capital. In fact, several of the firm’s advisors began at […]
Strategizing the Sale of Your Business With Your Community & Legacy In Mind
It probably won’t surprise you to know that locally owned / family-owned businesses are good for the economy and good for the community as a whole. The sale of your business, and the subsequent trajectory of its future, affects more than just those directly involved in your company. Your company’s future affects the surrounding community, making the task of finding the right buyer that much more important. How do family-owned businesses affect the local economy? We all know local businesses are important. But how exactly do they affect the economy differently than larger corporations? Grand Valley State University’s Family Owned Business Institute took a survey in 2014 assessing how family businesses operate within the local economy. Of course, this study was specific to West Michigan, but it’s safe to assume that many of these nuances are similar in other communities as well. Here are some highlights of what GVSU’s study found: Local business owners generally operate with a sense of loyalty to the overall community and to their employees. In times of economic downturn, layoffs are a last resort taken by most family-owned businesses. In fact, it’s typical for owners to take a cut in their distributions and/or salaries, followed […]
Featured: Garrett Monroe
Mergers & Acquisitions Advisor at Calder Capital Graduate of Grand Valley State University Fantasy Football Aficionado Motto: Intelligence is the ability to adapt to change. Favorite Activity: Hiking and walking with his wife Karaoke Night Song: Queen’s “Don’t Stop Me Now” What motivated you to become an M&A advisor? I get to help business owners through one of the biggest/most emotional events in their life. Additionally, I have a flexible work schedule. I get to control my pathway to financial, personal, and intellectual growth. How did you come to work at Calder Capital? I love the culture here, and I was immediately drawn to it after having my initial meetings with Max [Managing Partner at Calder Capital]. We all like to work hard and play hard while being ethical in everything that we do. What kinds of businesses do you like to work with? I like to work with all business owners because I love to learn about the different characteristics that make a business owner tick and operate. I also enjoy learning about each industry and what makes each company’s services/products unique and attractive in the marketplace. What motivates you to work hard each day? To pave a […]
Calder Capital/SBDA Close 30th Transaction of 2020, Continue Blistering Pace!
Demonstrating their adeptness at maneuvering during the pandemic, Calder/SBDA prove that they are among the fastest-growing M&A firms in the US.
The Do’s and Dont’s of Selling Your Business
Before You Sell There are a handful of elements that are fundamental to positioning a company for a sale. It is well worth a business owner’s time upfront to understand these elements. – Don’t force an owner-operator situation by making yourself irreplaceable or indispensable. It narrows the pool of buyers tremendously. – Don’t borrow a bunch of money – especially right before you sell. Over-leveraging is a real problem and will reduce the amount of cash a seller walks away with at closing. Your debt ratio will be examined closely. The potential buyer must calculate enough cash flow to satisfy debt service and their desired investment income. – Don’t tell your employees. I know this sounds counter-intuitive but it can cause unnecessary strain on the employees and business as a whole. Numerous transactions have been sidelined by key employees. – Do make sure your books are up to date. If you wait until the end of the year to do your bookkeeping, your business broker will not be able to complete the in-depth financial review, analysis, and repacking that is required. – Do have conversations with partners and family members that the sale may affect. Share your intentions and plans […]
Featured: Scott Nicholson, Mergers & Acquisitions Advisor
About Scott Nicholson Mergers & Acquisitions Advisor at Calder Capital Bachelor of Science in Economics from Aquinas College Master of Business Administration from West Michigan University Skilled Vocalist & Showman Motto: Be brutally honest and treat each client like they are your parent. Favorite Activity: Hanging with friends – the activity is just a bonus. Karaoke Night Song: “Brown-Eyed Girl” What motivated you to become an M&A advisor? I have worked for years as a mortgage loan officer. I have enjoyed the transactional nature of the career. The M&A business is the same but instead of many small deals, you work on fewer big more complicated transactions. All the moving parts and intense emotions involved motivate me and keep things challenging. How did you come to work at Calder Capital? Max [Managing Partner at Calder Capital] and I became friends over a number of years. We talked about each other’s business and came to enjoy certain aspects of each. As Max grew he suggested I might enjoy taking on a project or two and I agreed. The relationship has grown from there. What kinds of businesses do you like to work with? I like the people more than the businesses. […]
HEI Wireless Acquired By Individual Investor!
Calder Capital is proud to announce that Benton Harbor, MI-based HEI Wireless has been acquired by an Individual Investor, Jasen Drenth. Don Scharnowske, the seller, greatly enjoyed owning and operating HEI Wireless for over two decades, and he fostered a great work environment for his staff, as well as exceptional customer satisfaction. He has spent the past few years strategically positioning the Company for a smooth succession, and he is looking forward to traveling the country with his wife and spending more time with his two daughters before they head off to college. “I believe Calder Capital has found an excellent fit with the current buyer to continue the story of HEI Wireless and its growth trajectory,” said Mr. Scharnowske. “Jasen is qualified, energized, and ready to grow HEI Wireless. I appreciate the effort Calder put forth in qualifying a buyer that would fit HEI Wireless’ standards, and I am glad I chose Calder Capital to represent the sale of my business. The Calder team proved themselves to be collaborative partners every step of the way.” Jasen Drenth has a vast background in engineering, sales, and marketing, and he has taught finance and accounting at Davenport University. His combined engineering […]
Days Machinery Movers of Elkhart, IN Acquired by Barnhart Crane & Rigging!
Calder Capital, LLC is pleased to announce the successful sale of Days Machinery Movers of Elkhart, IN to Barnhart Crane & Rigging of Memphis, TN. Founded in Memphis, TN in 1969, Barnhart Crane & Rigging is a well-known heavy transport brand with over 40 branches across the United States. Barnhart provides innovative solutions to complex lifting and transportation challenges faced by heavy industry, from power generation to petrochemical to renewable energy, and beyond. The acquisition of Days Machinery Movers will strengthen Barnhart’s presence in the Midwest, where Barnhart already operates several branches in Indiana, Illinois, Iowa, Nebraska, Michigan and Ohio. Days Corporation has its own rich history, having started in 1913, with its main moving equipment being horse-drawn carriages. According to Jim Chapman, Regional Director for Barnhart, “Days Corporation has a stellar reputation in this region. Its employees and its services are all first class. We are blessed to make the Days Machinery Movers operations a part of our team. We think current Days Machinery Movers customers will be pleased with the expansion of services and equipment this acquisition will bring.” Both Companies are exemplary American success stories, and Calder Capital couldn’t be more pleased to see these organizations join […]
Quick Calder Q&A with Advisor Shane Kissack
Why did you become a business broker? Ten years ago I was building my own small businesses – several of them – simultaneously. The work I did expanding those enterprises culminated in positive exit experiences when I sold two of the businesses a few years later. Although I used a business broker for one of the transactions, I discovered that my background and knowledge were accretive to managing the process myself with the buyer and our respective attorneys for the second sale. Following the sales of my businesses, I remained in an advisory role to the new ownership developing business plans, growth plans, budgets, succession plans, and even exit plans. From there I was enlisted to lend my skills to an economic development enterprise, managing real estate development projects and guiding developers and companies through incentive programs in conjunction with local government and state partners. Tasked with attraction, retention, and expansion of these businesses, I developed a keen understanding of the unique challenges and opportunities that growth affords. What has resulted, is a career in business brokerage – the intersection of my acumen for business strategy and my personal experience. What kinds of businesses do you like to work with? […]