Calder Capital, LLC is very pleased to announce the successful acquisition of 100+-year-old multi-location stalwart Michigan Chandelier, Inc. of Southfield, MI by Uniprop Corporation of Birmingham, MI and Seneca Partners of Southfield, MI.
A lighting fixtures and electrical supplies company founded in 1913, Michigan Chandelier began in manufacturing and pivoted to distribution/retail during WWII when, out of necessity, all raw metals were focused on the war effort. Michigan Chandelier’s resilience and longstanding prosperity make it stand out among Michigan’s family-founded companies.
“This is what we’re all about at Uniprop,” said Roger Zlotoff, President of Birmingham, MI-based Uniprop, a family office, about the transaction. “Our vision is to invest in and grow outstanding companies like Michigan Chandelier. We realize that an individual investor may not have the reserves or the support to continue the Company’s century-long momentum, and that’s where we come in. We are very excited to be able to provide the operational support necessary to keep Michigan Chandelier a continued part of Southeast Michigan’s fabric.”
Ed and Judy Berne have been the majority owners of Michigan Chandelier since the 1980s when they bought out the previous generation. Having lived in California since 2011, the Bernes are looking forward to fully retiring now that they’ve successfully exited their ownership role of Michigan Chandelier. Ken Sanders, President and minority owner of Michigan Chandelier, will assist in making a smooth transition to new ownership and continue in his role as President for the medium term.
Ghazey Aleck, Mergers and Acquisitions Advisor at Calder Capital, served as Lead Advisor for Michigan Chandelier. “We couldn’t have been more pleased with Ghazey’s hard work, steady energy, and attention to detail,” commented Ed Berne on the acquisition. “We believe he’s found Michigan Chandelier excellent allies in the Uniprop and Seneca teams, and we’re thrilled to know that the Company’s legacy will continue to thrive.”
Mr. Aleck noted about the transaction, “I genuinely enjoyed working with Ken and Ed. They are men of integrity and that shines through in the efficient, disciplined, and profitable way that they operated Michigan Chandelier for so many decades. I couldn’t be more proud of how this transaction turned out. Uniprop and Seneca are the right fit for the future and I wish them the best of luck!”
The transaction marks 34 successful transactions for the Calder Capital/SBDA team in 2020, and the firm anticipates padding its record-shattering year with a few more closings before the year is out.
About Michigan Chandelier
Michigan Chandelier has been serving Michigan since 1913 by providing quality lighting and electrical materials at the lowest prices combined with the best service in the industry. Michigan Chandelier is headquartered in Southfield, MI, and maintains lighting showrooms and warehouses in Troy, Novi, and Rochester, MI. Originally a manufacturer of lighting fixtures, during World War II the Company shifted from manufacturing to wholesale and retail. For over a century, the Company has prospered through its commitment to reliability, honesty, and fair pricing, and by offering a comprehensive catalog of products. Read more: https://michand.com/index.html
Uniprop is a family office headquartered in Birmingham, Michigan that makes real estate and direct company investments. The acquisition of Michigan Chandelier will make for a mutually beneficial partnership. Read more: https://www.uniprop.com/
About Seneca Partners
Seneca Partners is one of the most productive independent sponsors in the US and the Michigan Chandelier transaction is Seneca’s fifth closed transaction in 2020. Seneca and Uniprop have successfully partnered on several other transactions to date. Read more: http://senecapartners.com/