Calder Capital is pleased to announce that Positive Chimney & Fire Place of Cadillac, Michigan has been acquired by individual investors.
Positive Chimney was acquired by four of the Company’s employees –Chris Richardson, Mike Gamble, and Cody and Kassie Richardson.
Founded in 1982, Positive Chimney provides Northwest Michigan residents with professional sales, installation, and service for all hearth and home needs. After over 40 years in the business, partners and founders Herb Smith and Dave Nederhoed are ready to retire. They engaged with Calder Capital in April of 2021 in order to find the right succession plan. Shane Kissack, Mergers and Acquisitions Advisor at Calder Capital, served as the lead advisor on the transaction.
“Before we formally launched to market, we had the opportunity to engage with key employees and learned there was the skill and desire in-house to transition the company to the next generation,” remarked Kissack. “Within months the buyers and sellers were under a signed Letter of Intent. Both the buyers and sellers had the same goal so the process went very smoothly. I am very happy to have helped the company transition internally.”
“I’m thrilled to know Positive Chimney will be taken over by several of our top performers,” commented Dave Nederhoed, one of the sellers of the Company. “Chris, Mike, Cody and Kassie know the business inside and out. We couldn’t have asked for a better takeover, and we wish them the best of luck going forward.”
Chris Richardson, one of the successors, has experience managing operations of Positive Chimney. “My partners and I are very excited to be continuing what Herb and Dave started,” said Chris Richardson. “They’ve worked hard to make this Company what it is, and their retirement is well deserved! A big thank you to Shane for walking us through all of the logistics of the transition.”
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to Positive Chimney & Fire Place.
About Positive Chimney & Fire Place
Positive Chimney has been at the forefront of the hearth and home industry for 40 years. Headquartered in Cadillac, Michigan, the Company expanded to a second location in Ludington and serves residents throughout the northwest portion of Michigan’s Lower Peninsula. Positive Chimney offers sales, services, and installation of fireplaces, stoves, masonry, PDC spas, Nordic hot tubs, and more.