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 and business savvy make him a natural successor to take on the continued growth of HEI Wireless, and he is eager to get to work.
The acquisition of HEI Wireless marks 31 closed deals for the Calder Capital/SBDA team in its already record-breaking year of 2020. “This acquisition is a great example of why we do what we do,” commented Max Friar, Managing Partner at Calder Capital. “A business owner like Don isn’t going to sleep well at night until he knows that the Company he invested decades of his life into will continue to thrive after he retires, just as he helped it thrive when he acquired it from the previous owner. Jasen is the ideal business owner to take the Company beyond what the original founder could’ve envisioned.”
Garrett Monroe, Mergers and Acquisitions Advisor at Calder Capital, worked closely with HEI Wireless to find the right buyer and facilitate the acquisition.
“Garrett really helped me along this process of selling the business, and I appreciate his hard work every step of the way. I hope he and Calder Capital continue to have success,” said Mr. Scharnowske.
Mr. Drenth also enjoyed his experience with Calder. “The professionalism and personal touch displayed by Calder Capital allowed the transaction to happen on a short timeline and gave both myself and Don great confidence in the sale,” said Jason Drenth. “I appreciate the efforts Garrett put into ensuring that the needs of both sides were satisfied.”
About HEI Wireless
HEI Wireless is a full-service two-way radio and communication equipment company. The Company specializes in engineering, building, operating, installing, and maintaining two-way radio systems, including public safety, private, commercial, and public access networks. The Company was in operation for over 60 years when it was acquired by Don Scharnowske in 1998. Mr. Scharnowske was the sole owner of the Company up until now, and he has worked tirelessly to grow it to what it is today.