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 been around for almost a century, and we are happy to have found a buyer with the time, passion, and resources to help us grow the company even more than we’ve been able.”
Eli Everhart, Chief Customer Officer of C.G. Witvoet & Sons had this to share, “We enjoy deep and trusting relationships with our customers. Given the opportunity to add additional services, capacity, and expertise to our existing client base is a significant part of our decision to explore additional partners to assist in our growth.”
Pete Musser, Chief Financial Officer of C.G. Witvoet, added, “While we very much enjoy running C.G. Witvoet, we had been looking for a new partner who would help us bring resources to the company to scale it more quickly. I believe we have found that partner.”
Craig Lydigsen, JBLR Managing Director, commented on the purchase: “Our group had been searching extensively for the right business acquisition with West Michigan roots. Witvoet has built an impressive business platform on a national level, with substantial opportunity for additional growth. Our plan is to continue building scale organically in the near term and longer-term through future strategic M&A to further expand the Company’s footprint and its customer base. Brian, Pete, and Eli have done a wonderful job growing the Company to its current level and our investor group is excited about teaming up!”
Calder Capital Lead Advisor Matt Uhl worked on the transaction for Witvoet, culminating in a successful transaction process that lasted less than a year. The transaction’s completion in June of 2020 displays that no matter the environment, transactions can get done.
Calder Capital’s Managing Partner, Max Friar, had this to say about the transaction, “The C.G. Witvoet transaction was #19 for the Calder/SBDA team on the year so far. We are extremely pleased to have completed this transaction, and despite the pandemic, our team continues to close transactions at a record-breaking pace. We continue to receive multiple inquiries daily from buyers looking for quality opportunities. We continue to invest in our team, new technologies, and new ideas. Despite these challenging times, we are moving ahead at record-breaking pace!”
Calder Capital represented the C.G. Witvoet & Sons as its exclusive Mergers and Acquisitions Advisory firm.