Calder Capital is pleased to announce the acquisition of Double Otis, Inc. of Grand Rapids, Michigan by Tony Castiglione of Farmington Hills, Michigan.
Established in 1997, Double Otis, Inc. (“Double O”) is a leader in the commercial glazing, window, door, and historic restoration industry. With over 25 years of experience, the company has expanded to a team of 26 employees. The Company’s founder, Michael Otis, passed away in 2022 and is remembered as a strong leader and passionate family man. His wife, Linda Otis, engaged Calder Capital to identify a successor to carry forward her husband’s legacy.
“I’m not sure I will completely retire,” Linda shared. “But selling Double-O has given me the opportunity to consider what is next for me. Because of the management of Double-O, I have been unable to focus on what is most important to me which is firstly my family and friends. From there I will move on to exploring what I can or want to do based on my own unique talents and abilities.”
Scott Nicholson, Jon Pastoor, and John Harrington of Calder Capital served as the lead Mergers and Acquisitions Advisors to Double Otis, Inc.
“Mike was an entrepreneur, and leader, with many years of experience as a business owner and specifically in the window industry. He was known as the “window guru” of West Michigan. Those were some hard shoes for me to step into. I was faced with many “new” experiences and firsts. Selling a business was one of those firsts,” Linda commented. “Understanding this, Calder started by coaching me on how to speak with potential buyers. They posed some of the questions I would receive preparing me on how to answer effectively. They also screened the many, many requests for information from potential buyers leaving me to only have conversations with those that were legitimate, viable buyers. Before every conversation, Calder gave me their perspective and an overview of the buyer. They were a part of every conversation. We did follow-ups on those conversations weeding through who we saw as the best fit for Double-O. Double-O has been a family-owned, small business from the foundation. Calder understood that I desired to have someone who would care for our employees and continue the legacy that Mike left.”
The Calder Capital team orchestrated a swift and efficient process, impressively bringing Double O to market for just 22 days and completing the entire transaction in only 46 days from launch to close. Double O launched to market on September 7th, garnered interest from 117 qualified buyers, had an offer accepted by September 29th, and concluded the acquisition on October 23rd.
“Calder stepped into my decision to sell at a time that I needed them most! They were able to discern very quickly what I wanted in a buyer,” Linda added. “They understood immediately what both Mike and I would have wanted for the next owner of Double-O. I will never regret my decision to use them.”
“Transactions like this are truly special,” shared Scott. “Linda is a wonderful person and we really enjoyed working with her and finding a buyer to continue her husband’s legacy. We extend our best wishes to Tony and anticipate Double O’s future growth and success!'”
“I huge congrats to John, Scott, and Jon, who worked seamlessly and tirelessly to bring about one of the quickest and most efficiently-run transactions in Calder’s history. We are very happy for Linda, and for Mike’s legacy, that Double O will continue on a path to growth and success,” stated Max Friar, Calder’s Managing Partner.
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to Double Otis, Inc.
The terms of the transaction were not disclosed.
About Double Otis, Inc.
Double Otis, Inc. (“Double O”) is a local leader in the commercial glazing, window, door, and historic restoration industry. Founded in 1997 by Michael Otis, the company has grown to 26 employees. Based out of Grand Rapids, Michigan, the Company is well-regarded and has a reputation for quality work and customer service.
About Calder Capital, LLC
Founded in 2013, Calder Capital, LLC is a lower middle market investment bank providing mergers and acquisitions advisory services to business owners, entrepreneurs, family offices, and investors across the United States. Our dedicated team of professionals combines extensive industry experience, technological innovation, negotiation savvy, and key relationships to exhibit exceptional execution. Calder’s services include mergers and acquisitions advisory, private funds and capital markets advisory, and business valuations.
