Calder Capital is pleased to announce that Crete Mechanical Group of Tampa, Florida has acquired a majority stake in Hillard Electric of Cedar Springs, Michigan.
Hillard Electric, founded in 2005 by Neil Hillard, specializes in high-tech commercial, institutional, and industrial electrical service and installation projects. The company combines state-of-the-art technology with a solid, traditional work ethic to deliver top-tier electrical, automation, and communication services. Neil engaged Calder Capital’s Sell-Side team to find a partner to assist in accelerating the Company’s growth.
“By joining the Crete Partner network, we not only expand our geographical reach but are able to offer our customers additional services while ensuring the same quality workmanship and service we are known for,” said Neil Hillard, President at Hillard Electric.
Crete Mechanical Group is a nationwide multi-service solutions provider with a vast network of local partners. Through its partners, the Company offers essential building services, including commercial HVAC, electrical, plumbing, and building automation and controls. The partnership with Hillard Electric adds over 50 highly specialized employees to the Crete family.
“Hillard Electric embodies the entrepreneurial spirit we look for when partnering. The new partnership expands the reach of our network, marking our entry into the Michigan market,” said Mike Cox, Chief Executive Officer at Crete.
Matt Baas of Calder Capital served as the lead Mergers & Acquisitions Advisor.
The Calder Capital team ran a highly efficient process closing the deal within 75 days of launching to market.
“I’m thrilled for Neil and the rest of the Hillard Electric team,” commented Calder advisor, Matt Baas. “It was a pleasure advising Hillard and working with Crete Mechanical during the transaction process. Crete is the ideal partner to support the company’s next phase of growth.”
Calder Capital, LLC served as the exclusive financial advisor to Hillard Electric. Rhoades McKee PC served as legal counsel to Hillard Electric.
The terms of the transaction were not disclosed.
About Crete Mechanical Group
Crete Mechanical Group is a nationwide multi-service solutions provider with a vast network of partners. Through its partners, they provide a host of essential building services across commercial HVAC, electrical, plumbing, building automation, and controls. For its partners, Crete provides the resources of a large organization while maintaining their freedom to continue operating their successful businesses. Partners in the Crete network are united in delivering superior service, advanced expertise, stringent safety standards, and a relentless commitment to operational excellence, innovation, and integrity.
About Hillard Electric
Hillard Electric is an experienced electrical business with the capacity to deliver and service complete electrical systems and automation solutions for commercial, industrial, manufacturing, and municipal customers.
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.
