Selling a Canadian business in the global marketplace.
Applied Comfort is a designer and manufacturer of non-standard HVAC systems for commercial, industrial and institutional facilities. The CEO and sole owner determined that, while the company was well positioned for future growth, it would require a strategic partner to fully realize its potential.
We targeted 140 buyers worldwide, connected with 85% of them and generated 6 formal offers that were acceptable to the company’s owner. A Swedish and a UK firm were the ultimate contenders; the former made a proposal that would yield a significantly larger payment, but it was contingent on future performance. Our client wanted a clean transaction: an all-cash deal on close, which the UK firm offered. The UK buyer had opened with a lower offer, but we negotiated a significant increase and exceeded all expectations in price, structure and the CEO’s involvement post-transaction. Under new ownership, Applied Comfort now has the resources to accelerate US growth.
F12.net (“F12”), a leading Canadian Managed Service Provider (MSP), was executing on a highly successful acquisition strategy, and FirePower was engaged as the company looked towards the GTA area for expansion. The FirePower team built a comprehensive target list and crafted a story emphasizing F12’s amazing corporate culture. Of the potential targets, Apps on Tap represented an exciting synergistic addition for F12, and with FirePower’s support, F12 acquired Apps on Tap in May, 2018.
Versature is a rapidly growing Canadian VoIP service provider. Previously, the company had been through an unsuccessful sale process with another investment bank, but decided to work with FirePower after receiving assurances about how the sale process would be run. FirePower’s Investment Banking team crafted a story highlighting Versature’s strong growth story, brand, people and processes. The most compelling offer came from net2phone, a subsidiary of US public company, Under new ownership, and with expanded access to capital, Versature is well-positioned to accelerate its growth trajectory in the Canadian market, and collaborate on initiatives within IDT abroad.