High-End Hotel Service Provider Purchased by West Michigan Investors!
Grand Rapids, MI — Calder Capital, LLC is pleased to announce the acquisition of the Suite Spa, LLC management division by local West Michigan entrepreneurs.
Formed in 2011 by entrepreneurs and spa industry veterans Vickie and Victor Bennett, Suite Spa’s patented in-room spa cart system and spa services have been utilized primarily in luxury hotels in New York City and Washington, DC including Hyatt and Andaz.
“We have had a lot of fun and excitement building Suite Spa over the past 5 years,” commented founder Vickie Bennett regarding her tenure overseeing the daily operations of the business. “Victor and I plan to continue manufacturing the cart systems, however we decided about a year ago that it would be in the best interest of the customers and the business if we spun off the management division. We are extremely pleased to turn the reins over to the new buyers. They are young, already successful business owners and have the energy and spark to take the business to the next level!”
Regarding the acquisition, buyer and current CEO Andrew Studebaker commented, “The minute I saw the business come on the market, I just knew it was the right fit. Having already built a largely digitized and virtually-operated business, I felt strongly that I could scale Suite Spa. Britany and I are very excited about the future!”
The transaction closed in January 2017. Max Friar, Calder Capital Managing Partner, noted, “2017 has started off strong. Starting in the first week of January our phones and emails have been buzzing off the hook with investors looking for opportunities. I’ve never seen so many buyers signing up to receive notifications. There is a sense of bullishness in West Michigan that I haven’t seen for some time. It’s definitely a great time to be a seller!”
About Suite Spa, LLC
Suite Spa is a family owned business driven by the values of Learning, Imagination, Friendship, and Excellence. Suite Spa consists of an innovative spa cart, systems, products and protocols developed to fit high-end hotel culture. Presently Suite Spa is a preferred vendor for Corporate Hyatt in hotels such as Andaz 5th Ave NYC, Grand Hyatt NYC, Andaz Wall Street NYC, and the Park Hyatt in Washington DC. World class spa experiences no longer need to come with a world class price tag. Suite Spa expects to expand into other hotel and resort chains and health care communities either corporately owned or franchised. Learn more at www.suitespa.net. Contact Suite Spa at:
Calder Capital, LLC was the exclusive M&A Advisor to Suite Spa, LLC. The transaction closed in 2017.
“Pankaj & Max, thank you so much! We spent a lot of time working unsuccessfully with another firm. We are happy to report that mere weeks after engaging with Calder, you brought us lots of buyers and helped us to narrow it down to the particular buyer that was an excellent fit for the future of our company! We closed the transaction only a few months later, in a shorter time than we expected! We will definitely recommend Calder Capital to any business owner seeking to sell!”
– Vickie & Victor Bennett, Founders, Suite Spa, LLC (Seller)
“Thanks to Calder Capital for your support and help. You diligently worked on behalf of your client while assisting both sides from LOI to Closing!
– New Owners, Suite Spa, LLC Management Division (Buyer)