Calder Capital is excited to announce the acquisition of Fortress Manufacturing of Benton Harbor, Michigan by Local Investor, Andrew Petro.
Established in 1996, Fortress Manufacturing is a specialized manufacturer, primarily focused on short-run prototyping. The company manufactures sheet metal components and assemblies, utilizing various techniques such as stamping, fabrication, welding, machining, CAD, and part finishing. Since 1998, Fortress had been exclusively owned by Fred Huff.
In March, Fred made the decision to entrust Calder Capital with the task of finding a successor who would not only carry on his legacy but also ensure the well-being of his dedicated team.
Andrew (Drew) Petro, based in Saint Joseph, Michigan, brings over a decade of experience in manufacturing and business development. He has developed a deep manufacturing understanding through working across a multitude of plant styles and sizes throughout Michigan, Ohio, Mexico, and the East Coast. With his background and desire for local entrepreneurship, Drew proved to be the ideal buyer for Fortress.
During the due diligence process, Drew and Fred developed a strong bond, assuring Fred that Calder had found the right buyer. The employees at Fortress Manufacturing, including Fred’s son, Peter Huff, are looking forward to working with Drew to ensure the company’s continued success.
When asked what excited him most about the acquisition, Drew shared “I am most excited to build on the foundation that Fred has built over the last 27 years. Fortress Manufacturing has a very strong reputation, an amazing team, and excellent capabilities. Fred has set the company up for sustained success, and I am excited to see where we can take it moving forward.”
“As part of our mission to provide high-quality sheet metal fabrication to Michigan and the Midwest, we are adding additional capacity for new clients. If you have any needs for metal fabrication and/or components, please reach out to us at dpetro@Fotressmfg.com. We would be happy to discuss our capabilities and describe how we can serve you better.” he added.
Scott Nicholson of Calder Capital served as the lead Mergers and Acquisitions Advisor to Fortress Manufacturing, Inc.
The Calder Capital team executed a remarkably streamlined process, attracting 134 qualified buyers who expressed their interest. Fortress Manufacturing made its market debut on May 25th, garnered eight offers, accepted one by June 28th, and successfully completed the acquisition on October 13th.
“Scott and the Calder team were professional, transparent, and knowledgeable,” Drew commented. “From the first exploratory discussion, I felt at ease with a trustworthy team.”
“Scott and Calder were great to work with, I was very pleased,” Fred shared. “I valued their attitudes, availability to answer questions, the communication throughout the process, and the ease of working with them.”
“This was an exciting transaction to be a part of,” Scott shared. “Pete has always worked for his father and felt it important that we found a buyer that left his father’s legacy in the right hands. Fred and Pete’s enthusiasm and confidence in Drew have made this experience all the more rewarding. I look forward to seeing Fortress Manufacturing’s continued success. Congrats to all parties!”
“This type of transaction and transition is heartwarming,” noted Calder Managing Partner, Max Friar. “This is why we do what we do, to help one generation of entrepreneurs transition to the next successfully. Congrats to Drew, Fred, and Pete on executing the American entrepreneurial dream!”
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to Fortress Manufacturing, Inc.
The terms of the transaction were not disclosed.
About Fortress Manufacturing
Fortress Manufacturing is a short-run prototyping manufacturer. The Company was founded in 1996 by Fred Huff and Craig Klein when they saw a need for short-run, low-volume prototyping for customers they had dealt with in previous jobs. In 1998, Fred became the sole owner of the Company. Fortress works with a diverse range of industries to manufacture parts such as brackets, panels, appliance skins, and welded assemblies.
About Calder Capital
Founded in 2013, Calder Capital, LLC 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.