“Buying a business is a long road, and Calder made it a manageable one. Matt, Hannah, and Logan were responsive, candid, dependable, and patient from the first introduction to the close. We couldn’t have done it without them.”
– Nick Smarto, Co-Owner, Peak Petroleum, Boulder, CO (Buyer)
“The professionalism Calder showed as well as the patient, deliberate approach to the very long process was impressive. Logan Granger and I clicked from the start, and I felt as long as I could have the continued chance to interact with Logan and Matt, that things would eventually be finalized. I’m grateful to everyone at Calder who deserves a lot of credit for the introductions to both Nick and Kurt whom I feel are going to be outstanding new owners.”
– John Hafen, Former Owner, Peak Petroleum, Denver, CO (Seller)
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Transaction Summary
Calder Capital, a nationwide mergers and acquisitions advisory firm, is thrilled to announce the successful acquisition of Peak Petroleum Testing Services of Denver, Colorado, by Nick Smarto of Boulder, Colorado, and Kurt Skvarla of Pittsburgh, Pennsylvania.
The Acquisition Story
Lifelong friends Smarto and Skvarla hold more than 30 years of combined experience across engineering, technology, financial services, real estate, and business operations functions. Both earned MBAs from Carnegie Mellon University. Smarto also holds a mechanical engineering degree and gained extensive experience at a magnificent seven technology conglomerate; meanwhile, Skvarla’s career is rooted in financial planning, business leadership, and real estate investment. Seeking an established business they could help grow while preserving its culture and strengths, Smarto and Skvarla engaged Calder’s Buy-Side team to identify and pursue an acquisition aligned with their operating experience and long-term ownership goals.
Smarto and Skvarla’s engagement led to Calder Capital sourcing and facilitating the acquisition of Peak Petroleum Testing Services.
Founded in 2001, Peak Petroleum Testing Services is a petroleum and aviation fuel testing business with laboratories in Denver, Colorado, and North Salt Lake, Utah. The company provides testing for jet fuel, diesel, gasoline, and other petroleum products, helping customers evaluate fuel quality and meet applicable specifications. Peak’s specialized technical services and established management team aligned with the buyers’ interest in industrial service businesses, while its laboratory operations offered a particularly relevant fit with Smarto’s engineering background. When Calder Capital connected with owner John Hafen, he was beginning to consider the next chapter of his life and what the future might hold for the business he had built. As he explored the possibility of retirement, John was open to finding a new leader who could carry the company forward.
Smarto stated, “Every test we run helps keep people safe, equipment online, and bad fuel out of the environment. That’s meaningful work, but what really blew me away was the talent on this team. Peak is full of sharp, dedicated chemists who care about getting it right, and I’m excited to grow this business with them.”
Hafen commented, “While I’m looking forward to continuing to support Nick and Kurt and the employees I left behind whom I love, I’m really happy I get the chance to work around my Wyoming ranch full time and enjoy all the unique opportunities my adopted state provides like fly fishing, skiing, hiking, and numerous other outdoor things.”
Calder Capital’s Transaction Team and Sale Process
Matthew Baas of Calder Capital served as the Lead Mergers & Acquisitions Advisor to Nick Smarto and Kurt Skvarla. Serving on the Calder Capital deal team were Buy-Side Director, Hannah Nabhan, and Buy-Side Associate, Logan Granger.
Calder’s Buy-Side team generated 39 off-market seller introductions, leading to 13 client pursuits, five offers on unique businesses, and resulted in the successful acquisition of Peak Petroleum Testing Services. Calder Capital introduced the parties in March, the Letter of Intent was executed in June, and Calder successfully closed the transaction in October.
Smarto reflected, “Buying a business is a long road, and Calder made it a manageable one. Matt, Hannah, and Logan were responsive, candid, dependable, and patient from the first introduction to the close. We couldn’t have done it without them.”
Hafen noted, “The professionalism Calder showed as well as the patient, deliberate approach to the very long process was impressive. Logan Granger and I clicked from the start, and I felt as long as I could have the continued chance to interact with Logan and Matt, that things would eventually be finalized. I’m grateful to everyone at Calder who deserves a lot of credit for the introductions to both Nick and Kurt whom I feel are going to be outstanding new owners.”
“Our clients were thoughtful about finding a business they understood and felt confident they could grow,” explained Baas. “I’m excited to see Nick and Kurt build on the strong foundation established by John and the Peak team; congratulations to each of you on completing this transition!”
Sam Scharich, Calder’s Managing Director, remarked, “Helping entrepreneurs take the step into business ownership is one of the most rewarding parts of buy-side M&A advisory. Calder Capital’s buy-side M&A expertise helps entrepreneurs evaluate and acquire specialized industrial services businesses, including petroleum testing companies where technical capabilities and fuel quality assurance are central to the business. We are looking forward to seeing Nick and Kurt apply their complementary experience to an established industrial services business!”
Calder Capital served as the Exclusive Buy-Side Mergers and Acquisitions Advisor Nick Smarto and Kurt Skvarla. Andrew DiPaolo of Aegis Law provided legal counsel to the buyers, and MidCap Advisors provided quality of earnings services. Kyle Brunger of McLeod Brunger PLLC provided legal counsel to the seller.
About Peak Petroleum:
Founded in 2001, Peak Petroleum Testing Services provides petroleum and aviation fuel testing through laboratories in Denver, Colorado, and North Salt Lake, Utah. The company’s ISO/IEC 17025-accredited testing capabilities support customers seeking to assess fuel quality and conformity with applicable specifications. Services include testing for jet fuel, diesel, gasoline, and alternative fuels, as well as on-site sampling and inspection. To learn more, please visit www.PeakPetroTesting.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.
Notice: Calder Capital, LLC is not affiliated with any similarly named organizations or entities. To verify communications from our firm, visit our website or contact [email protected].
