Thornapple Excavating of Grand Rapids, MI, Acquired by a Local Entrepreneur

GRAND RAPIDS, Mich. - Rezul -- Calder announces the sale of Thornapple Excavating, Inc. (Thornapple) of Grand Rapids, Michigan, to Scott Dore, also of Grand Rapids, Michigan.

Incorporated in 1985, Thornapple is a premier commercial excavating company providing clearing, demolition, earthwork, utility installation, and site preparation services throughout West Michigan. Under the leadership and ownership of Josh Rich since 2016, the Company has continued to grow substantially. Rich engaged Calder's Sell-Side team to find a successor aligned with Thornapple's legacy.

Rich found himself spending more time on tasks that didn't align with his passion. Through the sale, he aimed to return to what he enjoys most: operating heavy equipment, moving dirt, and meeting with customers one-on-one. Rich is pursuing these passions in his new venture, Airport Aggregate.

Scott Dore, longtime Estimator and VP of Operations for Thornapple, acquired the company from Rich. Dore's understanding of the Company's culture and client relationships ensures that the company will continue on its growth trajectory.

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Marc Blom of Calder served as the Mergers & Acquisitions Advisor to Thornapple. Serving as Lead Associate was Greg Weess of Calder.

Upon taking Thornapple to market, Calder distributed 83 Confidential Information Memorandums (CIMs) to qualified buyers and received 8 offers.

Rich noted, "The Calder team truly understood what mattered most to me: ensuring Thornapple's people and customers would be well cared for. Their dedication to that end exceeded my expectations. After vetting multiple offers, we determined that the best succession plan, one that would honor our past and place us on the best path forward, was the one that involved someone I have known and worked with for several years. I am grateful to have gone to market through Calder, to have met with strategic and financial buyers, and to have obtained the assurance that Scott is the best successor."

Dore added, "The dynamic of purchasing a company from someone who happens to be your employer is quite unique. However, between my existing friendship with Josh and the courtesy that Marc extended, the process couldn't have been any better. Marc did a tremendous job representing Josh and walking me through the process."

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Max Friar, Managing Partner of Calder, shared, "Our team takes great pride in helping business owners like Josh achieve premium sales results while ensuring the ongoing vitality of their respective businesses."

Calder served as the exclusive sell-side advisor to Josh Rich, Owner of Thornapple.

To learn more about Thornapple, please visit www.ThornappleExcavating.com.

About Calder Capital:
Founded in 2013, Calder is a cross-industry mergers and acquisitions advisory firm with offices across the United States. Calder provides valuation, sell-side, and buy-side services. We are nationally recognized for excellence in advising $1-100M enterprise value transactions in manufacturing, construction, distribution, and business services. Learn more at www.CalderGR.com.