MEDI
Four Decades of Documents, One Direct Deal
The Business
MEDI has managed documents for Maryland institutions since 1980, evolving from microfilm services into scanning, digitization, and enterprise content management for state and local governments, banks, and manufacturers. Fourteen employees run an operation whose staff still load the trucks with boxes themselves.
Jim Altig started the company alone in 1980. Joe Castile wanted in badly enough that he worked three months unpaid in 1985 to earn his half of the partnership, and the two ran it together for four decades, Jim on operations and Joe on sales. Approaching retirement, they had been close to a deal several times over the years without one closing. What they wanted was a culturally aligned buyer and a smooth handoff for their people.
Transaction Timeline
How the Deal Happened
MEDI connected with Kevin Calhoun on Rejigg in August 2023, signed an LOI in January 2024, and closed in March 2024, about seven months end to end. The owners pointed to one thing above all: they dealt with their buyer directly, person to person, instead of through intermediaries.
Deal Highlights
Direct Deal
Owners and buyer worked together directly, no intermediaries in the middle.
Strategic Fit
A same-industry buyer extending Midwest operations into the Mid-Atlantic.
Forty-Year Partnership
One partner worked three months unpaid in 1985 to buy into the business.
Seven Months to Close
From Rejigg introduction to a completed deal in about seven months.
The Buyer
Kevin Calhoun owns Document Mountain, an Indianapolis document management company he founded in 1997, vertically integrated across scanning, cloud storage, and shredding. Acquiring MEDI extended his Midwest operation into the Mid-Atlantic, a strategic consolidation by an operator who speaks the same language as the sellers.
Coverage
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