Calder Capital is excited to announce that Kalamazoo, MI-based Elite Tooling, LLC has been acquired by FabX Industries, the parent company of Aquest Machining and LaserTec, machining and fabrication services companies based in Greenville, Michigan. With its intentionally low-volume, flawless high-precision, and fast turnaround strategy, Elite Tooling has become a steadfast partner of some of the most recognized pharmaceutical, medical, and aerospace manufacturing giants in the greater Kalamazoo, MI area. Shane Smith founded Elite Tooling, LLC in 1996, at the age of 18. Over the years, Mr. Smith has handpicked and assembled an excellent team that thrives on fielding technically challenging projects with short deadlines. FabX Industries takes a simple approach: making manufacturing easy for its customers by partnering with clientele and taking care of their employees. The complementary visions between the two companies have made the acquisition a natural fit. Mr. Smith, who plans to remain with the business long-term as the President of Elite, was pleased with the transition, stating, “Finding the right buyer for Elite and closing the deal took about a year, and it was a relief that the process could continue even in the midst of COVID. I was seeking a growth partner and I […]
Demonstrating their adeptness at maneuvering during the pandemic, Calder/SBDA prove that they are among the fastest-growing M&A firms in the US.
July 2020 – Calder Capital, LLC is pleased to announce the successful sale of West Michigan manufacturer, C.G. Witvoet & Sons, Co., to JBLR & Associates, LLC, a specialized investment group actively involved in the ownership and operation of family-held firms. Operating out of two facilities in Grand Rapids, MI, C.G. Witvoet & Sons is a manufacturer of interior elements pertaining to store décor, signage, and displays for the retail sector. C.G. Witvoet is a fourth-generation family business that has grown to be a leader in the manufacture and wholesale distribution of retail décor items. Originally founded in 1932, C.G. Witvoet & Sons has diversified and evolved into a robust manufacturer of custom interior signs and displays, with such capabilities as dimensional lettering, department signage, permanent décor items, aisle directories, LED illuminated décor, digital graphics, vinyl graphics, and more. The company will continue to operate under the C.G. Witvoet name and all key personnel are remaining with the company following the transition. Brian Witvoet, fourth-generation owner of C.G. Witvoet, was pleased with the transaction stating, “Calder Capital represented our company well and located an excellent fit to continue C.G. Witvoet’s rich history and to foster further growth. The company has […]
Well, moving I should say. We’re about 95% there. With original plans scuttled due to COVID, our original move-in month of April quickly became July. While we still have some finishing touches to make, it’s starting to feel like home. We’ll likely be hosting some smaller open houses in the future. Stay tuned!
I really appreciated the chance to contribute to a recent article, Pandemic injects some reluctance into small business M&A market, by Mark Sanchez at Mibiz.com, and wanted to summarize a few factors affecting the M&A transaction market presently that we discussed: Sellers of businesses have pulled back. This is entirely understandable; many owners are concerned about their business, whether it be regaining lost ground or capitalizing on new opportunities that have arisen due to COVID-19. The flip side is that this means that there is a lack of quality sellers on the market and those owners that have decided to sell are often receiving enormous amounts of interest! Buyers are aggressively seeking out new transactions. Calder/SBDA are processing dozens of new buyer inquiries daily – individuals, strategic buyers, private equity, and family office buyers. Economic chaos such as that which has been borne upon us by COVID-19 results in the creation of new entrepreneurs. Additionally, private equity and family office buyers continue to have mandates and liquidity, and are seeking opportunities. Banks are being cautious. Understandably, banks are going to evaluate each business transaction based on how it has performed through 2020 and how it is likely to fair into […]
Review current 2020 M&A deal multiples, deal structure and other Q1 mergers & acquisitions trends and statistics from Calder Capital, LLC
After closing a record 22 transactions in 2019, the Calder Capital/Small Business Deal Advisors team cranked up the volume and drove home 15 closings between January-April 2020, breaking the record for most closings in a four-month period.
May 2020 – Calder Capital, LLC is pleased to announce the successful sale of multi-state MAACO franchise operator, Stonewall Road Automotive Group LLC, to Collision Consolidation Company LLC. Operating in three states in the Midwest, the Stonewall Road Automotive Group LLC (“SRAG”) is a multi-shop operator of MAACO automotive repair centers. SRAG is one of the largest multi-unit franchisees within the national MAACO system and has been consistently recognized as a performance leader in the automotive repair industry. Stonewall Road Automotive Group, through its individual MAACO stores, is a provider of a wide variety of auto collision and repair services including paint services, cosmetic car repairs, fleet and industrial services, paintless dent repair, spray bed lining, windshield repair, truck and oversized equipment outfitting, and direct insurer repair programs. The company will continue to operate under the SRAG name and all key people are remaining with the firm following the transition. SRAG’s world-class operations team is led by a former multi-unit MAACO franchise owner, Taso Bournousouzis, and a former senior executive at MAACO, Doug Engle. SRAG’s industry-renowned operations team also includes other former multi-unit franchisees, experienced general managers, and other MAACO veterans, many of whom boast several decades of experience in […]
Disclaimer: as the PPP is handled at the individual SBA Lender level, the items necessary may differ from lender to lender. Additionally, we are not lenders and the information listed here is FYI only. Please contact your business bank to get connected to the appropriate contact. You are likely receiving a lot of emails and information from various sources regarding the Paycheck Protection Program. The purpose of this post, which may be updated as new information is learned, is to distill the requests and process down to the meat only. So, here goes: Paycheck Protection Program Tips Here is the official PPP Application. You will want to work with your existing SBA-approved bank. We are hearing that due to such high demand, most lenders are prioritizing current customers. If you do not have a good contact, we can provide a list of quality SBA contacts at various banks. Please be aware that their response time will likely be delayed. Remember: Stay in communication with your lender but avoid inundating them down with unnecessary communication as they are certainly already feeling overwhelmed. Paycheck Protection Program (PPP) Checklist Start collecting items that will be requested now. Do not wait for a final […]
Section 1112 of the CARES Act requires the Small Business Administration (SBA) to make payments on new and existing 7(a) loans for six months. These are not deferments. They are full payments of principal and interest that the borrower will never be responsible for again.