Calder Capital is pleased to announce the sale of its client, Husky Precision Machining, “Husky,” to an individual investor.
Founded by Rich Seleno and Glenn Schleicher in 1997, Husky is a precision machining and fabrication company located in Roseville, Michigan. The Company offers a full array of machining services including milling, grinding, assembly, fabrication, and finished painting with a focus on large format CNC machining and boring mill machining.
Husky works on large products with a maximum quantity of 20 units. The Company provides services to industries such as automotive, aerospace, testing equipment, military, and special machine builders.
Rich Seleno was the active President of Husky. He and his wife, Kathy, worked together to successfully run the Company for 25 years. Ready to focus their energy on personal interests, the pair engaged Calder Capital to assist in the sale of the Business. Ron Bryce, the Company’s general manager, will continue with Husky under new ownership.
“When we decided to sell Husky, our top priority was finding the right fit for our employees and customers. Calder was successful in providing multiple offers in a short period of time. Jennifer’s experience and commitment to our employees and business practices is what we were looking for. We are confident that Husky Precision Machining, Inc will continue to be a ‘top shop’ in the future,” stated Rich Seleno.
Husky was acquired by Jennifer Spicer of Plymouth, Michigan. Jennifer has previous experience working as a general manager and controller in the machining industry. She will be using her extensive knowledge to successfully take over the Company.
Jennifer Spicer stated “After looking for a few years for the right manufacturing company to purchase, I came across Husky. Due to Husky’s commitment to its customers and employees, I knew this was the right opportunity. I am excited to collaborate with the great team Rich has assembled and look forward to continuing Husky’s legacy.”
Garrett Monroe, Mergers and Acquisitions Advisor at Calder Capital, was the lead advisor on the transaction. He worked closely with Rich Seleno and Glenn Schleicher to find the right buyer for Husky.
“This was a bread-and-butter deal for Calder. Due to COVID’s particularly adverse effects on the manufacturing industry, manufacturing M&A throughout 2020-2021 was down versus previous years. When we launched Husky to market in late 2021 there was a flurry of interest, resulting in many offers for Rich and Glenn to digest. Jennifer battled through a competitive bidding process and proved herself to be the top buyer for Husky. She has a background in accounting and operations, which will pair nicely with Ron’s machining and business ownership experience as the general manager of Husky. I am excited to see what this duo can do with the foundation that Rich and Glenn built,” stated Garrett Monroe, Calder M&A Advisor at Calder Capital.
“Nearing the halfway point of 2022 things are feeling as robust as ever,” noted Calder Managing Partner, Max Friar. “Certainly, the tides are shifting a bit as supply chain issues work themselves out and the market digests significant interest rate hikes, however, we continue to see strong buyer activity and high-quality businesses come to market. I expect deal activity to remain strong for the rest of the year!”
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to Husky Precision Machining.
The terms of the transaction were not disclosed.