December 2019 – Calder Capital is pleased to announce the successful sourcing of an equity investor for Augusta, Michigan-based Turf Works.
Turf Works approached Calder Capital in 2019 seeking to grow and build upon the Company’s current customer base. After consulting with Calder Capital’s Managing Partner, Max Friar, it was decided that the best move going forward was not to pursue a sale but instead to look for an investor willing to provide growth capital. After considerable searching, Calder Capital introduced an individual investor who proved to be a perfect fit.
Turf Works co-owners, Mr. Konkle and Mr. Boucher weighed in, “Thank you to the Calder Capital team for your patience and flexibility working with us. While we went back and forth debating whether to sell our Company, Max never pressured us in any direction. Calder Capital provided us with several quality investors and after careful consideration, we are very pleased with our new partner and believe we have succeeded in beginning to take our Company to the next level.”
According to Calder Capital owner, Max Friar, “We are very pleased with the outcome of this transaction. When people think about mergers and acquisitions they generally do not think about partner buy-ins, however, there are a lot of qualified investors interested in taking majority and minority positions in established and profitable companies like Turf Works. Taking on a partner is a sensitive issue and we are very pleased it worked out so well for Kevin and Dave at Turf Works.”
Calder Capital, LLC served as the M&A Advisor for Turf Works and Ghazey Aleck, Calder Capital Mergers & Acquisitions Associate, served as the Lead Advisor. The Turf Works transaction was a record 21st on the year for the Calder/SDBA team!
About Turf Works:
Turf Works is a trusted professional landscape management company offering a variety of top-notch lawn care services. The Company provides mowing, fertilization and turf management, tree and shrub trimming, and comprehensive snow removal services, as well as a 24/7 emergency hotline. The Company has built an outstanding reputation with over 20+ years of immaculate service always keeping client satisfaction as their number one priority. The Business services a diversified customer base including industrial, retail, residential, education and municipal clients. Learn more at https://www.turf-works.com/.