Calder Capital is pleased to announce the strategic investment and recapitalization of SERVPRO of Saginaw and related entities by City Capital Ventures, LLC (“CCV”), a private investment partnership headquartered in Chicago, Illinois.
SERVPRO of Saginaw is a restoration and cleaning services company. Founded in 1997, the company has expanded to seven locations and over 150 employees. After 25+ years of commitment and growth, Randy and Tina Miller engaged Calder Capital to identify a partner for the next phase of the Company’s growth. Randy and Tina will continue to serve as CEO and COO, respectively.
“We are excited to join forces with a company that shares our passion for restoring properties and helping people during times of distress. This collaboration will enable us to deliver even faster and more efficient disaster recovery solutions, ensuring that our clients receive the highest level of service they have come to expect,” shared Randy Miller. “By forging this strategic partnership with CCV, Servpro of Saginaw will enhance their market footprint, business development, and resources to provide a comprehensive range of disaster recovery services. These services will include emergency response, water extraction, drying and dehumidification, mold remediation, smoke and soot removal, structural repair, content restoration, and more.”
Dedicated to growing strong businesses across the US, City Capital Ventures, or “CCV”, is an investment firm whose purpose is to pair capital with business opportunities in a better, more tailored way. CCV partners with passionate leaders who know their customers; and pride themselves on bringing uncommon network expertise to each of our companies. With extensive experience with franchise systems, CCV is well-positioned to assist SERVPRO of Saginaw execute its strategic growth plan.
“SERVPRO of Saginaw, under Randy’s leadership, has demonstrated an exceptional ability to grow by expanding both its footprint and its services,” noted Dan Kipp, Co-Founder and Managing Partner at CCV. “The Company has emerged as an undisputed leader within the SERVPRO system and across the growing and critical national restoration and remediation industry. We are incredibly excited to team up with the Millers and the SERVPRO family to continue to elevate the Company and its mission of providing dependable and timely service to property and business owners when they need it most.”
SERVPRO of Saginaw gained notable interest in the market. Calder presented 199 CIMs, and received 18 indications of interest and 7 serious letters of intent.
Advisor Matt Baas commented, “Buyers’ interest in SERVPRO of Saginaw was strong and driven by several key factors including a differentiated franchise brand, a great management team, exceptional service, and a proven track record of growth across markets. We are honored to have played a role in bringing the SERVPRO of Saginaw team together with its new partners at CCV. We look forward to following the company’s continued success.”
“Calder’s team was incredibly well-versed in guiding us through this process. Their prior experience in dealing with franchisee transactions was a tremendous asset and we could not have been happier with the outcome of this CCV partnership,” Randy Miller commented. “We could not have done it without the Calder team and their outside experts who helped facilitate this in a timely manner.”
Managing Partner Max Friar noted, “I am very happy for Randy, Tina, CCV, and the Calder deal team who executed this transaction to perfection. Calder has significant experience in confidentially marketing and structuring mult-location franchise platform acquisitions. We look forward to working with CCV and SERVPRO in the future!”
Calder Capital, LLC served as the exclusive financial advisor to SERVPRO of Saginaw. Varnum LLP served as legal counsel to SERVPRO of Saginaw. Jones Walker LLP served as legal counsel to City Capital Ventures.
The terms of the transaction were not disclosed.
About SERVPRO of Saginaw
SERVPRO of Saginaw is one of the largest and most well-respected SERVPRO franchises. Since its founding in 1997, the Company has invested heavily in its operations and grown from a small, single-territory franchise to a large, multi-location operation and consistently one of the largest franchisees within the SERVPRO system. SERVPRO of Saginaw employs 155 people across its seven locations. The company has been under consistent ownership since its founding by Randy Miller.
About City Capital Ventures
City Capital Ventures is a lower middle market investment partnership based in Chicago, focused on investing on behalf of their exclusive network of family offices and private market investors in consumer, commercial, and service businesses. CCV invests in growth buyouts of market-leading companies with exceptional leadership and attractive niche positions where it can provide capital and expertise to accelerate and sustain growth.
About Calder Capital, LLC
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. Please see our website at www.caldergr.com for further information concerning Calder and its current opportunities.