Calder Capital Closes on the Successful Sale of Custom Millwork & Display
Custom Millwork and Display (South Bend, IN) has built a strong reputation for intricate craftsmanship in its decade and a half of operation.
GRAND RAPIDS, Mich., January 5, 2021 (Newswire.com) - Calder Capital, LLC is proud to announce the acquisition of Indiana-based Custom Millwork & Display by an individual investor.
Founded in 2005, Custom Millwork is a family-owned manufacturer of custom-made millwork, architectural millwork, and furniture for universities, schools, churches, and businesses. Based in South Bend, Indiana, Custom Millwork is known for its creativity, reliability, and flawless craftsmanship. For the past several years it has been owned and operated by the founder, Jerrel Mead, and his son and partner, Dustin Mead.
The Company was acquired by Kurt Madvig, an entrepreneur with a diverse background in economics, business operations, management, and product development, as well as experience in the automotive industry. This past year, Kurt took a leap by removing himself from the corporate world in order to pursue entrepreneurship, and the acquisition of Custom Millwork is a huge step in achieving his goal.
Over their 15 years running Custom Millwork, Jerrel and Dustin built a standout reputation that allowed them to earn a comfortable living while doing the work they love. With 2017-2019 being the Company’s most successful years, Jerrel decided it was a good time to sell and sought Calder Capital’s aid in finding the right buyer. “COVID-19 created some obstacles for Custom Millwork, and the transaction took longer than we anticipated,” commented Garrett Monroe, Mergers and Acquisitions advisor at Calder Capital. “However, we found a great fit in Kurt, and I believe he’ll team up well with Dustin to help fuel Custom Millwork’s growth going forward. COVID threw some wrenches our way but we were able to get Jerrel and Dustin a great fit for their business at an excellent price and terms.”
The acquisition of Custom Millwork & Display was Calder Capital’s 37th transaction of 2020. Calder’s Managing Partner Max Friar had to say, “I’m immensely proud of our team’s hard work and continued momentum throughout 2020. Looking back, I don’t think we missed a beat."
Scott Nicholson and Garrett Monroe partnered as lead Mergers and Acquisitions Advisors working alongside Custom Millwork & Display. Calder Capital, LLC served as the exclusive Mergers and Acquisitions advisor to Custom Millwork & Display, Inc.
About Custom Millwork & Display, Inc.
Custom Millwork & Display is an Indiana-based manufacturer of custom-made millwork, architectural millwork, and furniture for universities, schools, churches, and businesses. The Company carved out a niche within the millwork industry by focusing heavily on intricate and complex projects that require specialized manufacturing capabilities and skillsets. Although Custom Millwork can service many end markets, the majority of the Company’s business over the last few years has been for universities and institutions, such as the University of Notre Dame, Purdue University, and Hillsdale College.
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Source: Calder Capital, LLC
Categories: Production and Manufacturing