Calder Capital is thrilled to announce the successful acquisition of Thread-Craft of Sterling Heights, Michigan, by Depatie Fluid Power Group of Portage, Michigan.
Founded in 1958 by Lloyd Johnson and Ture Lindholm with just three employees, Thread-Craft has grown into a leading manufacturer of mechanical linear movement actuators, including ball screw assemblies, acme or lead screws, and precision spindles. Since 1984, under the leadership of the second-generation owner, Dennis Johnson, and his wife, Celeste, Thread-Craft expanded its team to 46 employees and established itself as a well-respected aerospace manufacturer. After 40+ years of dedication, Dennis and Celeste Johnson engaged Calder Capital to assist in transitioning the business to the next generation, ensuring its continued success and growth.
“Wherever the retirement road takes us personally or professionally, Dennis and I will strive to be productive, continue to set goals, and continue to accomplish those goals with the same amount of passion we had while Thread-Craft was present in our lives,” Celeste shared.
Founded in 1956, Depatie Fluid Power Group has over six decades of experience in fluid power automation, serving the hydraulic and pneumatic power needs of numerous customers across Western Michigan and Northern Indiana. Operating primarily within the aerospace and defense sectors, the acquisition of Thread-Craft allows Depatie to further extend its service offerings to include ball screw manufacturing.
Garrett Monroe of Calder Capital served as the lead Mergers and Acquisitions Advisor to Thread-Craft.
The Calder Capital team orchestrated a robust and efficient process, launching Thread-Craft to the market on October 13th. In the 40 days that followed, Calder attracted the attention of 159 qualified buyers and secured 21 offers. By November 22nd, Thread-Craft and Depatie had entered into a letter of intent (LOI). Just 140 days after Thread-Craft’s initial launch, the transaction was successfully concluded on March 1st.
“After a number of attempts with other brokers, Dennis and I had little faith in our ability to sell the business. However, after our first meeting with the Calder Capital team, we were given hope, in large part because we felt Garrett understood our vision and appreciated the importance of finding the perfect buyer to acquire Thread-Craft. We were looking for a specific buyer who had manufacturing experience, had a desire to grow the business, and was committed to keeping our workforce intact,” Celeste remarked.
“Calder Capital and Garrett Monroe found a perfect fit in The Depatie Fluid Power Group and we will be forever grateful. Garrett’s unwavering support, hard work, expertise, diligence, drive, and attention to detail were instrumental in navigating the complexities of this transaction. Garrett was truly the reason this transaction was successful; he is more driven than anybody we have ever known. Without Garrett’s commitment and partnership, we wouldn’t be where we are, celebrating our retirement,” she added.
“Depatie acquired a phenomenal company in Thread-Craft. It was a synergistic add-on acquisition for Depatie and a perfect culture fit,” Garrett remarked. “Both Depatie and Thread-Craft have stellar reputations in their respective industries/markets, and I am thrilled about the partnership. Dennis and Celeste deserve a rewarding and relaxing retirement after pouring most of their life into building Thread-Craft into a market leader. Congratulations to Dennis, Celeste, and the Depatie team!”
“A big congratulations to Dennis, Celeste, and the Depatie Fluid Power team on a successful acquisition,” noted Calder Managing Partner, Max Friar. “The Thread-Craft / Depatie transaction is yet another shining example of an established strategic buyer making a synergistic acquisition while respecting the legacy of the owners. It also serves as an example of the steady resurgence of manufacturing transactions post-COVID. We are looking forward to many more in the years to come!”
Calder Capital, LLC served as the exclusive Mergers and Acquisitions Advisor to Thread-Craft. Miller Johnson served as legal counsel to Depatie Fluid Power Group. Foster Swift served as legal counsel to Thread-Craft.
The terms of the transaction were not disclosed.
About Thread-Craft, Inc.
Thread-Craft is a full-service ball screw and repair facility capable of evaluating and repairing or remanufacturing products to OEM specifications. In addition, the Company offers precision machining, ID and OD grinding, CNC turning and milling, and thread grinding services.
About Depatie Fluid Power Group
Depatie Fluid Power Group, headquartered in Portage, Michigan, with nine locations, serves thousands of customers not only in the Midwest but throughout the United States and abroad. Depatie is a distributor across Hydraulics, Pneumatics, and Fluid Connectors. Beyond parts, they provide engineering services to scope, source, and validate custom solutions for their clients.
About Calder Capital
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.