January 2020 – Calder Capital, LLC is pleased to announce that it has represented and advised on the sale of Foxbright to an Individual Investor. Foxbright, originally founded in 2002 in Grand Rapids, Michigan, is a software and web services company whose primary goal is to help schools improve and manage their websites. To accomplish this, the Company combines a process-driven approach with its proprietary, education-focused content management solution and highly skilled staff. The result is a dramatic improvement in the form and function of school websites.
Foxbright approached Calder Capital in 2019. At the time, two co-owners, Catherine Ettinger and Paula Whisman, managed Foxbright and Catherine had decided to pursue an exit from the business.
“Once the Company came to market, in late 2019, there was a lot of immediate interest,” mentioned advisor Ghazey Aleck. “Foxbright has all the characteristics most buyers look for, including: recurring revenue contracts, low overhead, scalable growth opportunities, excellent relationships with clients, optimal work-life balance, among others. By bringing buyers to the table in an efficient manner, we were able to secure multiple offers.”
Advisor Ghazey Aleck had more to say regarding the transaction, “It was great to work with both Foxbright co-owners through the transition. Hannah Lawrence is a great fit for the future of the company. Ultimately, I’m pleased to have been a part of a smooth transition between partners, and I look forward to seeing what the future holds for Foxbright!”
Calder Capital represented Foxbright as its exclusive Mergers and Acquisitions Advisory firm. The terms of the transaction were not disclosed.