Executing acquisition to support national expansion
F12.net (“F12”), a leading Canadian Managed Service Provider (MSP), was executing on a highly successful acquisition strategy, however, all their acquisitions had been in Western Canada. The company was now looking towards Ontario, and specifically, the GTA area for expansion, and FirePower was engaged to find appropriate targets.
FirePower’s team worked with F12 to understand their acquisition strategy, then built a comprehensive target list and crafted a story that emphasized F12’s amazing corporate culture. This was key to generating interest from potential targets in the MSP space, as it is dominated by younger business owners. Apps on Tap was of particular interest as it represented an exciting, potentially synergistic addition to F12’s eastern operations. FirePower’s team worked to make contact and build a relationship with the company.
Apps on Tap was ultimately sold on the benefits of joining the F12 family. With FirePower’s support, F12 acquired Apps on Tap in May,2018, thus taking a significant step forward in developing its GTA presence.
TFI is the largest distributor of specialty food preparation equipment and training programs in Canada, supplying over 10,000 locations. FirePower's investment banking team advised management on financing the buy-out of existing shareholders.
One of three equal shareholders of Corrosion Service, an infrastructure services company, approached FirePower, seeking to buy out the other two. Although this was a highly sensitive situation, we were able to raise the debt financing necessary for a successful close.