Calder Capital in Grand Rapids has announced the acquisition of Michigan Chandelier Inc. in Southfield by Uniprop of Birmingham and Seneca Partners of Southfield.
Terms of the deal were not disclosed. Michigan Chandelier is a lighting fixtures and electrical supplies company founded in 1913.
Originally, the focus of the business was manufacturing. The company pivoted to distribution and retail during World War II when, out of necessity, all raw metals were focused on the war effort.
“We are very excited to be able to provide the operational support necessary to keep Michigan Chandelier a continued part of southeast Michigan’s fabric,” says Roger Zlotoff, president of Uniprop.
Ed and Judy Berne have been majority owners of Michigan Chandelier since the 1980s when they bought out the previous generation. They have recently exited their ownership in the business and will be retiring. Ken Sanders, president and minority owner, will assist in making the transition to new ownership and continue in his role.
Ghazey Aleck, merger and acquisition adviser at Calder Capital, served as lead advisor for Michigan Chandelier.
The transaction marks 34 transactions for the Calder Capital team in 2020.
Michigan Chandelier provides lighting and electrical materials, Uniprop makes real estate and direct company investments, and Seneca is an independent sponsor.
Calder Capital is a M&A firm specializing in advisory services for businesses in the Midwest. It has offices in Michigan, Chicago, and Alabama.