“Calder Capital and specifically Kregg Kiel was a very positive experience. Kregg demonstrated a strong understanding of the process and provided steady guidance. He was always available to answer questions and assist in navigating some difficult times. The overall experience of negotiating between both parties was incredibly smooth and made the complex transaction come to fruition.”
– Annette Honan, Former Co-Owner, DELTA Services, Indianapolis, Indiana (Seller)“From the buyer’s side, working with Kregg was GREAT! He was a pleasure to work through the process with all the way to close,” remarked Ditson. “OMCLLC had taken a run at DELTA Services Inc. two times prior to the successful outcome and through it all Kregg stayed ‘in the game,’ encouraging me to stay in touch with the opportunity. As a result of Kregg’s willingness to respond to my continued and persistent follow up communication about DSI’s availability, I was able to stay engaged and followed the company for over a year. Absent his willingness to remain in touch, I may have let this one go. All in all, Kregg is a ‘deal doing’ resource for Calder and in general a great person!”
– Ben Ditson, Managing Member, Octane Management Company, West Homestead, Pennsylvania (Buyer)
Transaction Summary
Calder Capital, a nationwide mergers and acquisitions advisory firm, is thrilled to announce the successful sale of DELTA Services, Inc. of Indianapolis, Indiana, to Octane Management Company, LLC (“OMCLLC”) of West Homestead, Pennsylvania.
The Acquisition Story
Owned and operated by the husband and wife team of Mike and Annette Honan, DELTA Services, Inc. is a full-service environmental and demolition specialty contractor serving customers throughout Indiana. After more than 20 years of successfully leading the Company, Mike and Annette were ready to pursue retirement and spend more time traveling. To ensure a thoughtful transition, the Honan’s engaged Calder Capital’s Sell-Side team to identify a strategic buyer who aligned with DELTA’s values and long-term vision.
Founded in 2018, Octane Management Company, LLC, the management company that owns AbMech Acquisitions, LLC (founded in 1988), is a leading provider of hazardous materials remediation and selective demolition services. AbMech Acquisitions LLC provides these services in Pennsylvania, West Virginia, and Ohio. With more than three decades of experience, AbMech has built a reputation for regulatory excellence, safety-first execution, and a highly certified workforce capable of handling complex remediation projects.
Mike Honan noted, “In retirement, we look forward to traveling to Europe with family and friends and experiencing other cultures. We’ve never had the availability to spend the time it deserves to fully enjoy. Meanwhile, we trust Octane’s leadership to take DELTA Services, and the team, to the next level.”
Ben Ditson, Managing Member of Octane Management Company, LLC stated, “The acquisition of DELTA Services, in conjunction with the current services provided by AbMech, in the markets it serves, expands Octane’s geographic footprint with a common platform of hazardous materials remediation and selective demolition. The combination of these similar companies strengthens its ability to serve clients from the Mid-Atlantic into the Midwest.”
Calder Capital’s Transaction Team and Sale Process
Kregg Kiel of Calder Capital served as the Lead Mergers & Acquisitions Advisor to DELTA Services, Inc. Supporting the acquisition was Riley Hagen of Calder Capital.
Calder’s Sell-Side team generated strong market interest during the sale process, with 310 Confidential Information Memorandums (CIMs) distributed to qualified buyers, 13 indications of interest received, and four letters of intent reviewed. The company closed within four months of signing the letter of intent.
Annette Honan commented, “Calder Capital and specifically Kregg Kiel was a very positive experience. Kregg demonstrated a strong understanding of the process and provided steady guidance. He was always available to answer questions and assist in navigating some difficult times. The overall experience of negotiating between both parties was incredibly smooth and made the complex transaction come to fruition.”
“From the buyer’s side, working with Kregg was GREAT! He was a pleasure to work through the process with all the way to close,” remarked Ditson. “OMCLLC had taken a run at DELTA Services Inc. two times prior to the successful outcome and through it all Kregg stayed ‘in the game,’ encouraging me to stay in touch with the opportunity. As a result of Kregg’s willingness to respond to my continued and persistent follow up communication about DSI’s availability, I was able to stay engaged and followed the company for over a year. Absent his willingness to remain in touch, I may have let this one go. All in all, Kregg is a ‘deal doing’ resource for Calder and in general a great person!”
Kregg shared, “The transaction required persistence and discipline to achieve the right outcome. After early challenges with another prospective buyer, Calder Capital returned to the market to maintain competitive tension and ultimately identify a more aligned party. Mike and Annette were incredibly patient and steady throughout a complex process.” Kiel continued, “Ben was very transparent and amiable during negotiations. The parties worked constructively to ensure a fair outcome for both parties.”
Garrett Monroe, Calder’s Sell-Side Managing Director, commented, “Environmental and specialty service businesses like DELTA Services continue to attract strong strategic interest due to their technical expertise, regulatory barriers to entry, and recurring demand. The Honan’s were resilient, and their approach helped make this a very successful outcome. We’re proud of Kregg and the Calder team for guiding this deal across the finish line!”
Calder Capital served as the Exclusive Sell-Side Mergers and Acquisitions Advisor to DELTA Services, Inc. Providing DELTA Services with legal counsel was Erik Johnson of SLS Group.
About DELTA Services, Inc.:
DELTA Services, Inc. is a full-service environmental and demolition specialty contractor serving customer locations throughout the State of Indiana. The Company specializes in environmental hazard evaluation and control, selective demolition, interior strip-out, and long-term facility maintenance programs for occupied facilities. To learn more, please visit www.DELTAServicesInc.com.
About ABMECH Acquisitions, LLC:
Founded in 1988, AbMech Acquisitions, LLC provides state-of-the-art hazardous materials remediation and selective demolition services across Pennsylvania, West Virginia, and Ohio. The Company is known for its certified workforce, regulatory compliance, and commitment to safety and integrity. To learn more, please visit www.AbmechLLC.com.
About Calder Capital:
Founded in 2013, Calder Capital is a cross-industry mergers and acquisitions advisory firm with offices across the United States. Calder provides valuation, sell-side, and buy-side services. We are nationally recognized for excellence in advising $1-100M enterprise value transactions in manufacturing, construction, distribution, and business services. Calder serves business owners, entrepreneurs, family offices, financial buyers, and investors. Learn more at www.CalderGR.com.
