Calder Capital is pleased to announce that its client, Weinkauf Plumbing & Heating, Inc., has been acquired.
Established in 1959 by Walter and Theresa Weinkauf, Weinkauf Plumbing & Heating is a second-generation family plumbing and HVAC contractor located in Alpena, Michigan. Prior to the sale, the business was owned and operated by siblings Rob Weinkauf, Karen Lankheet, Alan Weinkauf, and Steve Weinkauf.
The four co-owners of Weinkauf Plumbing & Heating were approaching retirement age and wanted to ensure a successful and careful transition for the business, its dedicated employees, and loyal customers. They engaged Calder Capital in 2020 in order to find its successor.
Weinkauf Plumbing & Heating was acquired by a group of individual investors led by Alpena native, Luke Gerhart. Luke will assume a leadership role in the company and will use his decades of construction management experience to build and grow the company for its continued long-term success.
“I am thrilled to continue what the Weinkauf family has built,” commented Luke Gerhart. “I look forward to taking the helm and leading Weinkauf through the next decade. Our group is committed to investing in the business, its employees, and the community of Alpena.”
Matt Baas of Calder Capital served as the lead Mergers and Acquisitions Advisor to the shareholders of Weinkauf Plumbing & Heating.
“This transaction was an interesting and rather remarkable ride,” remarked Baas. “Weinkauf Plumbing & Heating is a longstanding and reputable family-owned company in Northern Michigan. We were determined to find them a solid fit. It’s rare that you have four company owners and four investors consummating a transaction. There were a lot of moving parts, communication was key, and it was exciting to see the pieces fall into place.”
“I’ve got to hand it to Matt Baas,” noted Calder Managing Partner, Max Friar. “Watching him navigate through this transaction reaffirmed to me why he was awarded DealMaker of the Year this year. Matt is ultimately logical, fair, and strives to be in strong, organized communication with all parties – buyers, sellers, lenders, and attorneys. It’s a recipe for success.”
Calder Capital, LLC served as the exclusive Mergers & Acquisitions Advisor to Weinkauf Plumbing & Heating, Inc.
Dan White of White, Wojda, and Curtis served as legal counsel for Weinkauf Plumbing & Heating. Andrew Longcore of The Business Law Group acted as legal adviser to the buyer group. Transaction financing was provided by Jeff Kleinschmidt and his wonderful team at Old National Bank.
About Weinkauf Plumbing & Heating, Inc.
Weinkauf Plumbing & Heating, Inc. has been proudly serving the Alpena, Michigan community and surrounding areas since 1959. Weinkauf has been voted Sunrise Side’s Best Plumbing, Heating, and Air Conditioning Service Provider for multiple years by loyal customers. Weinkauf’s factory-trained professionals provide plumbing service on any system for commercial, residential, industrial and institutional customers. They also sell and install furnaces, air conditioners, boilers, stoves, fireplaces, sinks, faucets, toilets, and other related HVAC systems.