CNC Machining Company Elite Tooling of Kalamazoo, MI, Acquired by FabX Industries
With its 20th transaction of the year, Calder Capital helps Elite Tooling partner with FabX Industries. The companies are well-positioned to offer high precision machining and serve customers from West Michigan to Northern Indiana.
With its intentionally low-volume, flawless high-precision, and fast turnaround strategy, Elite Tooling has become a steadfast partner of some of the most recognized pharmaceutical, medical, and aerospace manufacturing giants in the greater Kalamazoo, MI area.
Shane Smith, who founded the business at age 18, plans to remain with the business long-term as the President of Elite. Mr. Smith was pleased with the transition, stating, "Finding the right buyer for Elite and closing the deal took about a year, and it was a relief that the process could continue even in the midst of COVID. I was seeking a growth partner and I am confident that the leadership of Gopi Ganta and Bob Playford of FabX will take Elite to the next tier of success and performance. The Calder Capital team was professional, dedicated, and down-to-earth. I look forward to seeing how Elite Tooling will grow under the direction of FabX Industries."
Gopi Ganta, the owner of FabX Industries, commented, "I had been looking for an established 5-axis CNC acquisition for some time. When I met Shane and toured the facility, I knew I had come across an excellent fit. Shane cares deeply about his team and customers, and that is reflected in the immaculate condition that he keeps his facility. I have rarely seen such attention to detail and pride in ownership. I look forward to a long-term and prosperous relationship with Shane Smith."
Max Friar, Managing Director at Calder Capital, noted that "Elite Tooling is an example of the fact that whether it's 'a good time to sell' depends mainly on the seller and buyer. Mr. Smith's dedication to his company for over two decades brought it to the successful establishment it is today, and FabX Industries has the strategic resources bring it to a whole new level. A fit like this isn't always easy to find, but it's what Calder Capital strives to accomplish with every transaction. We are running full steam ahead and are confident that 2020 will be a record year for our firm!"
Calder Capital represented Elite Tooling, LLC as its exclusive Mergers and Acquisitions Advisory firm. The transaction was the 20th of 2020 for Calder Capital.