Pita Pit Canada
Arranging financing to support acquisition and growth.
Pita Pit Canada ("PPC") is the franchisor to 228 Pita Pit locations across Canada. Pita Pit restaurants sell Mediterranean-style pita sandwiches, and offer a healthy alternative to traditional high fat, high-calorie fast foods. FirePower was engaged to arrange financing for PPC's acquisition of a majority interest in Pita Pit International ("PPI"), with a lender that would accommodate PPC's future expansion plans.
FirePower's Investment Banking division generated multiple proposals from lenders, then negotiated and structured favourable terms and pricing for PPC. With respect to the PPI acquisition, FirePower guided PPC to craft and negotiate a compelling offer that was attractive to both the seller and the lender.
FirePower negotiated the debt facility as part of a strengthened banking relationship for PPC, successfully positioning the company to move forward with the PPI acquisition and to execute on its future expansion plans.
FirePower was engaged to prepare PrintFleet for an exit to strategics, and guide the company through to closing. Four weeks before closing, the buyer with whom PrintFleet signed an LOI following a competitive auction, a Japanese Fortune 500 company, terminated the deal because of an internal reorganization. Far from giving up, FirePower re-ignited conversations with a Texas-based strategic who had done well in the auction, and closed without any major challenges at an attractive price, terms and conditions.