Patrick Robey Sources & Closes ACG’s Deal of the Year <$25MM!

Calder Capital is pleased to announce that associate and Director of Corporate Development, Patrick Robey, sourced and closed ACG’s Deal of the Year <$25MM.

Patrick Robey, Director of Corporate Development

Excerpted from

Midwest Timer finalized the Lectro Components acquisition in December 2017. The deal is recognized as a winner in the 2018 MiBiz M&A Deals of the Year Awards in the category for transactions valued at less than $25 million. Grand Rapids-based M&A firm Calder Capital LLC advised Midwest Timer on the transaction and helped line up financing for the deal.

After receiving “some good interest” from lenders to back the transaction, a deal with one lender fell apart in the eleventh hour, said Patrick Robey, director of corporate development at Calder Capital. “We had to scramble in mid to late November,” he said, noting the parties aimed to finish the deal by Dec. 20 — before the New Year.

“It was quick,” he said of the deal, noting that Midwest Timer gave the former owners of Lectro a 15-percent stake in the company to get the deal to a close.

“We had to get a little bit creative in terms of how the (former owners) earn that equity (and) how it’s structured over time,” Robey said. “We had to lock those guys down. Without those guys, we couldn’t have done this deal.”

Congratulations to Midwest Timer Service and Lectro Components on a successful acquisition and integration.

Read the complete story here:

“We hope to work with Calder Capital again on our next acquisition and would certainly call them when the times comes to sell our business as well. I would not hesitate recommending their firm to anyone contemplating a business acquisition or sale and can confidently say the cost of their service was the best investment we have ever made. Thank you, Max and Patrick, for your outstanding service!”

– Bruce Chapman, VP of Finance and Co-Owner, Midwest Timer Service, Inc. (Buyer)

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