“The Calder Capital team provided tremendous support throughout this sale. Jared’s professionalism and persistence were key factors in achieving a very timely and successful outcome for all parties.”
– Bob Miller, CFO, Iroquois Industrial Group, Watseka, IL (Seller)
“Jared and Drew’s professionalism and industry insight were critical in helping us close within 71 days. They were fair in representing their client and pleasant to work with.”
– Jonathan Simmons, President, Green Valley Manufacturing, Decatur, IL (Buyer)
Calder Capital is pleased to announce the successful sale of Benda Conveyor Solutions, located in Tinley Park, Illinois, to Green Valley Manufacturing, based in Decatur, Illinois.
Benda Conveyor Solutions was founded in February of 2022 upon the legacy and foundation of Benda Manufacturing; the organization has more than 40 years of conveyor system design and fabrication expertise. The Company provides product handling and automation solutions across industries such as food and beverage, pharmaceuticals, and contract packaging. After turning the company around, the Benda ownership group of Iroquois Industrial Group and Big Shoulders Capital engaged Calder Capital’s sell-side team to sell the company to a more active and hands-on ownership group, able to offer focused leadership and investment, and an ability to increase the company’s sales efforts.
Green Valley Manufacturing, established in 1995, is an industry leader in die and mold handling equipment. Green Valley offers advanced manufacturing and engineering capabilities, serving a diverse range of industries including aerospace, automotive, construction, medical, defense, and more.
“We are excited to see the continued successes at Benda and the growth opportunities that Green Valley can provide,” shared Bob Miller, CFO of Iroquois Industrial Group. “Equally important is that the company remain in Tinley Park for the community and its team of valued employees, who were integral in bringing the company to this point.”
Jonathan Simmons, President of Green Valley Manufacturing, stated, “We are excited to add an independent team with over 40 years of experience in the material handling space. The Benda name has a rich history in food-grade conveyance, automation, and handling systems. We were excited to retain all key employees, including William Benda, to help carry on the legacy the family built. The Benda division has a great team in place with a highly skilled workforce. They are true craftsmen in their positions. We were thrilled to see the quality of the products they build. The group has a true passion for the industry and its customers.”
Jared Friar of Calder Capital served as the Lead Mergers & Acquisitions Advisor to Benda Conveyor Systems. Serving as Lead Analyst was Drew Woods of Calder Capital.
The transaction drew significant interest from the market. Calder Capital’s sell-side process generated 126 Confidential Information Memorandums (CIMs) distributed to qualified buyers and resulted in 6 competitive offers. From Iroquois Industrial Group and Big Shoulders Capital’s engagement with Calder Capital to the Letter of Intent was 41 days; the closing occurred just 30 days after the signed Letter of Intent.
Miller commented, “The Calder Capital team provided tremendous support throughout this sale. Jared’s professionalism and persistence were key factors in achieving a very timely and successful outcome for all parties.”
Simmons shared, “Jared and Drew’s professionalism and industry insight were critical in helping us close within 71 days. They were fair in representing their client and pleasant to work with.”
“Bob Miller was instrumental throughout this transaction,” stated Jared Friar. “He was my key contact throughout the process, handled facility tours, provided any and all necessary documentation, and was very timely and responsive throughout the entire process. The deal wouldn’t have gotten done without him being a good steward.”
Max Friar, Founder and Managing Partner of Calder Capital, added, “When a business owner needs to sell their company promptly, Calder is up to the task. We are grateful that Big Shoulders Capital and Iroquois Industrial Group chose our team to lead their sale of Benda. In less than 3 months, we generated 6 competitive offers and sold the business for more than expected. That is the type of result that Calder’s marketing powerhouse can generate for sellers.”
Calder Capital served as the exclusive Sell-Side Mergers and Acquisitions Advisor to Iroquois Industrial Group and Big Shoulders Capital in the sale of Benda Conveyor Solutions.
About Benda Conveyor Solutions:
Benda Conveyor Solutions, based in Tinley Park, Illinois, is a designer and manufacturer of custom conveyor systems and automation solutions. The company specializes in sanitary and industrial conveyors serving industries such as food and beverage, pharmaceuticals, and contract packaging. With an emphasis on precision, reliability, and engineering excellence, Benda delivers turnkey solutions that streamline production and optimize efficiency. To learn more, please visit www.BendaInc.com
About Green Valley Manufacturing:
Founded in 1995, Green Valley Manufacturing is a leading producer of die and mold handling equipment. Operating in Decatur, Illinois, the company serves major industries including aerospace, automotive, construction, defense, and medical manufacturing. Green Valley prides itself on its values of quality, efficiency, and safety. To learn more, please visit www.GreenValleyInc.com
About Iroquois Industrial Group:
Iroquois Industrial Group provides strategic guidance, capital, and operational support to help companies grow and improve profitability. With expertise across manufacturing, engineering, and business management, IIG supports long-term success through shared services, strategic planning, and performance optimization. To learn more, please visit https://IroquoisIndustrialGroup.com/.
About Big Shoulders Capital:
Big Shoulders Capital is a family office focused on debt and equity investments in lower middle-market manufacturing companies. Their mission is to provide strategic guidance and resources to help businesses achieve their full potential. To learn more, please visit https://www.BigShouldersCap.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.
