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Company: Calder Capital, LLC, Grand Rapids, MI
Company Description: Founded in 2013 by Max Friar, Calder Capital, LLC is a lower middle market Mergers & Acquisitions Advisory Firm focused on representing sellers of industrial, distribution, and business service companies with enterprise value from $1-$100M; and strategic buyers seeking platform and bolt-on acquisitions in the same market segments.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Financial Services - Small
 Nomination Title: Fast Growing M&A Firm Continues Blistering Growth, Achieves Inc. 5000!
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since January 1 2020, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 198 words used.
Founded in 2013, Calder Capital, LLC, and subsidiary Small Business Deal Advisors, LLC (collectively “Calder Capital”), are boutique mergers & acquisitions firms headquartered in Grand Rapids, Michigan. The firms focus on helping smaller, traditionally underserved family-owned businesses ensure that transfers of ownership are handled professionally and confidentially. The distinction in branding exists based on the size and type of client handled. Operations, personnel, and marketing are essentially uniform.
Calder has grown every year since 2013. In 2020, through the pandemic, Calder set a record by growing sales 85% and closing 40 transactions. Calder was able to achieve spectacular growth in the face of an overall M&A Industry that declined by 13-15% year-over-year vs 2019 (Sources: Statista). In 2021, the company continued its blistering growth, growing sales by 66% and closing 42 transactions. Calder's significant growth, particularly in an industry that has faced considerable adversity during the pandemic, landed it on the prestigious Inc. 5000 fastest-growing companies list in 2021 and 2022 Inc Regionals Midwest Top 250!
Since 2020, the firm has added eleven (11) full-time hires, expanded its intern program from 3 interns to 9 interns, and has remained active in giving back to local charities and non-profits.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 184 words used.
Since the beginning of 2020, Calder Capital has enjoyed the following achievements/recognitions:
Recognized as #1 Area M&A Firm by Number of Transactions (2018-2021)
Founder Max Friar Awarded Grand Rapids 40 Under 40 Award (2020)
Founder Max Friar Awarded Top 200 Business Leaders Award (2019-2021)
Celebrated the firm’s first sale of a client to a publicly-traded company, Mettler-Toledo (NYSE:MTD) (2020)
Calder Associate Matthew Baas Named Top Young Dealmaker of the Year (2021)
Gold Stevie ® Company of the Year - Financial Services (2021)
Bronze Stevie ® Entrepreneur of the Year - Max Friar (2021)
Bronze Stevie ® Fastest-Growing Company of the Year - Calder Capital, LLC (2021)
Inc 5000 Fastest-Growing Private Company of the Year(2021)
Inc 5000 Regionals - Fastest-Growing 250 in the Midwest (2022) (see attached)
Calder associate, Scott Nicholson, is a Board member and Calder is a financial contributor to Home Repair Services, a local non-profit that helps low-income homeowners stay in their homes by providing construction repair and accessibility modifications. Additionally, Calder maintains a 5-year pledge to financially support the Children's Advocacy Center, a non-profit that combats child sexual assault.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 187 words used.
It has taken two full years for business sale transactions to get back to where they were. As you can see from the chart in this report, small business sales nationally were essentially consistent in Q4 2019 with where they were in Q4 2021, suffering a steep decline in the years between. It is significant that in 2019, Calder closed 23 transactions, and then through the downturn 40 in 2020, and 42 in 2021. During this time, the company grew its revenues from $1.69M to $5.2M, growth of 207%. As noted above, this was particularly exceptional in 2020, when the industry declined between 13-15%.
Since 2020, Calder has also significantly invested in its team, which is now at 26 full-time staff. The firm has remained committed to developing young talent via its internship program, which grew uninterruptedly throughout COVID. Calder has made five full-time hires from university students that grew through its intern program since 2020.
Additionally, Calder has added three (3) new offices throughout the Midwest: Chicago, Louisville, and Pittsburgh during 2020-2021 and has now completed transactions in 16 different states across the country.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 64 words used.
The supporting documents include:
- Press releases for Inc 5000, Stevie, 40 Under 40, and Dealmaker of the Year awards.
- Charity donation letter from Home Repair Services & Children's Advocacy Center.
- Issues of Grand Rapid's Top 200 Business Leaders featuring Calder owner, Max Friar
- Email notification that Calder has made the Inc 5000 Regionals as one of the top 250 fastest-growing companies in the Midwest.
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