Any experiences with Calder Capital (broker)?

July 23, 2022

by an investor from University of Michigan - Ann Arbor in Chicago, IL, USA

I’ve come across a deal interesting deals marketed by Calder Capital. Calder is a broker that seems to be focused primarily on Midwest companies. The CIMs they put together seem very organized and well thought out. Has anyone had any experiences with them? Good? Bad?

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Reply by an intermediary
in Texas, USA

I’d say overpaying slightly can be justified if the business checks other critical boxes—like location, seller financing, and your ability to grow it post-close. But paying 3x SDE, especially if some of it is questionable, is risky unless you have very strong conviction on upside or strategic fit. I’d try to negotiate down, or at least tie some of the price to future performance via an earn-out. Overpaying just to “do a deal” can trap you in something that drains more time and cash than expected—especially in construction, where margins and labor can be volatile.

Reply by a searcher
from University of Colorado at Boulder in Camas, WA, USA

We had some meetings with them when we were attempting to sell our Denver-based manufacturing company. Although we decided to go a different route (for other reasons altogether), we were impressed with Calder's people, approach and knowledge of the space. They also have buyers on hand that are vetted and ready to pull the trigger. Definitely worth checking out.

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