Calder Capital is pleased to announce the acquisition of Iverson & Company of Des Plaines, Illinois by a local Individual Investor.
Founded in 1931, Iverson & Company is a machine tool distribution and service business. Iverson has become one of the nation’s most recognized names in the service of Hardinge machines due to its employees’ specialty expertise. Ready to pursue their passions and spend more time with loved ones, Terry and Kathy Iverson, third-generation owners, engaged Calder Capital to transition their business.
Terry looks forward to dedicating himself to ChampionNow, which assists young people in pursuing careers in manufacturing. Over the years, Terry has spoken at several manufacturing conferences, written two books, and used his position at Iverson to mentor employees who have gone on to do great things, both within the company and in the industry. By committing himself fully to the organization, he aspires to make an even bigger impact on the community and the country.
“Retirement is probably not a totally appropriate term for my future,” Terry shared. “I plan on continuing to help the company when possible but also grow the CHAMPIONNow organization, programs, and following. I do plan to travel more with my wife Kathy and spend more time with our grandchildren, but I hope to continue many of the things I have been doing, albeit at maybe a less intense pace.”
Iverson & Company was acquired by an individual investor, DeJuan Lever, of Chicago, Illinois. DeJuan brings with him a wealth of expertise acquired through his extensive involvement in supply chain management, sales, business ownership, and marketing-related disciplines. Given his career spanning over two decades within the supply industry, this acquisition seamlessly aligns with DeJuan’s professional background and aptitudes, making it a natural fit.
When asked what excites DeJuan most about this acquisition, he commented, “Embracing the past to build the future. I am ecstatic to lead an organization with dynamic history among the machine tool industry. Expanding Iverson & Co into new markets while continuing to diversify product offerings and services excites me about this acquisition. I look forward to achieving profitable growth at our company”.
Shane Kissack of Calder Capital served as the lead Mergers and Acquisitions Advisor to Iverson & Co.
“I am excited that we could help Terry and Kathy find the right successor for the legacy of their 92-year-old family business,” Shane commented. “This was a complicated and fairly lengthy transaction. I commend Terry, Kathy, and DeJuan for being diligent yet patient throughout the entire process. I wish all parties continued success in the future!”
“My pursuit for an acquisition began two years ago. During this timeframe, I examined countless prospective companies which were accompanied by CIMs among various brokers,” DeJuan shared. “By far, Calder Capital had the best prepared CIM for initial assessment and facilitating my decision to pursue Iverson & Company. Shane was more than an advisor; he was the conduit among all stakeholders during the acquisition. We simply could have not done it without him.”
“Shane was very committed to demonstrating the value that Iverson & Company has to the industry through the hard work, commitment, and talent of all its employees. I was very pleased with the relationship Shane and I shared, and his understanding of finding a good match in ownership was crucial to growing the company and building on what Iverson already has, building onto its 92-year legacy,” Terry commented.
“Congratulations to Terry, Kathy, DeJaun, and Shane on a transaction well-executed. The Calder team continues to excel at sourcing individual entrepreneurs to take over established businesses and lead them successfully into the future. Additionally, we are doubling down on the greater Chicago market and it’s great to see continued growth and success in that market,” commented Calder Managing Partner, Max Friar.
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to Iverson & Co.
About Iverson & Co.
Founded in 1931 by Edward Iverson, Iverson & Co. is a leading distributor of new and used machine tools. With over 90 years of experience, the company offers comprehensive machine tool distribution, service, and parts sales for a wide range of manufacturers. Over the years, Iverson has expanded beyond its origins as a distributor of Hardinge machines and now specializes in distribution, service, and rebuilds for various machine tool manufacturers.
About Calder Capital
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.