Calder Capital, LLC is thrilled to announce that Kelm-Acubar of Benton Harbor, Michigan has been acquired by The Armor Group of Mason, Ohio.
Kelm-Acubar is an industry-renowned provider of precision machining services, with a wealth of expertise and experience in the field. Kelm-Acubar prides itself on supplying only the highest quality OE and aftermarket machined components. The owner, Andy Bodnar, ready to tackle new projects and spend more time with family, engaged Calder Capital to find his successor.
Kelm-Acubar was acquired by The Armor Group. The Armor Group is a corporation whose divisions manufacture highly engineered products and provide aftermarket services. Armor holds nine companies that offer diverse capabilities serving a variety of industries. Armor’s mission is to earn business by being a trusted provider of on-time quality manufactured solutions, engineered equipment, and aftermarket services.
When asked about the process, Andy Bodnar had the following to say, “There were definitely ups and downs along the way, but I sincerely applaud the efforts of Calder and Advisor Shane Kissack. Shane is patient and knowledgeable. He always took the time to answer my questions and I felt he was always on my side. He did an excellent job.”
Shane Kissack of Calder Capital served as the lead Mergers and Acquisitions Advisor to Kelm Acubar.
“I am happy we could connect Armor with Andy for his divestiture of Kelm-Acubar, it is a great fit. After working on this project for close to two years it is satisfying that we have the right outcome for Andy and the legacy of Kelm.” Shane shared regarding the transaction.
According to Calder Managing Partner Max Friar, “Kelm-Acubar is a long-standing and well-respected manufacturer in Southwest Michigan. Both Andy and Shane (Advisor) exhibited tremendous patience and determination in getting this transaction to the finish line. I am extremely happy for Andy and that Kelm will continue to flourish in the hands of such a capable buyer.”
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to Kelm-Acubar.
Kelm Manufacturing Company was founded in 1963 by Otto Kelm and was purchased by Andy Bodnar in 1986. Andy started Acubar in its current location in 1991. In 2002, Kelm Manufacturing Company was relocated into the Acubar facility and the two companies were merged into Kelm-Acubar. Their ability to hold close tolerances and unique large-part capabilities have made them an ideal vendor for aerospace, defense, nuclear, and many more applications.
About The Armor Group
The Armor Group, Inc. is a corporation that has divisions that manufacture highly engineered products and provide aftermarket services. Armor, which consists of nine companies, offers diverse capabilities that serve a variety of industries. In business for over 90 years, Armor has a deep understanding of their clients and a strong dedication to exceeding expectations. They are headquartered in Mason, Ohio, with additional facilities in Ohio, Indiana, Michigan, and China.
About Calder Capital
Calder Capital is a lower middle market investment bank providing mergers and acquisitions advisory services to business owners, entrepreneurs, family offices, and investors across the United States. Our dedicated team of professionals combines extensive industry experience, technological innovation, negotiation savvy, and key relationships to exhibit exceptional execution. Calder’s services include mergers and acquisitions advisory, private funds and capital markets advisory, and business valuations.