FirePower Capital guided EuCan Distribution Inc. to secure growth capital
FirePower Capital (“FirePower”), Canada’s entrepreneurial investment bank and investor for the mid-market, is pleased to announce that it acted as the exclusive advisor to EuCan Distribution Inc. (“EuCan”), the North American distributor of a premium German bicycle brand, with regards to its recent financing to support its rapidly growing business.
EuCan’s main challenge was finding the right lender to manage its working capital requirements, which are highly seasonal. Traditional banks could not support a large enough credit facility to satisfy EuCan’s needs.
EuCan gave FirePower the mandate to arrange this working capital financing, on a short timeline. We presented the opportunity to 26 non-traditional lenders, whom we believe would have an appetite, in a way that facilitated their decision-making. We received credible proposals from 4 of them, negotiated and eventually completed the deal, knowing that we had a favourable structure in place.
“I’m thrilled for EuCan”, said Ilan Jacobson, Founding Partner and CEO of FirePower, “the new credit facility we put in place for them is a tremendous match for their growth requirements and objectives.”
“The FirePower team took on the challenge of finding us the right financing as if EuCan was their own business”, said Mark Cator, CEO of EuCan, “the quality of their industry contacts, depth of skills and experience, combined with their dedication and passion made it happen.”
About EuCan Distribution
EuCan was founded in 2014 to import and distribute high-end conventional and pedal-assisted bikes in North America, from a leading German brand. www.cube-bikes.ca
About FirePower Capital
FirePower Capital is the investment banking and private capital firm built for Canada’s entrepreneurs. The firm helps mid-market businesses complete mission-critical transactions. www.firepowercapital.com
Our client, a software distributor, sought to optimize the pricing of its products and the incentives of its salesforce . Within the 3-month duration of the VMX exercise, EBITDA run-rate increased by 15%, with visibility into more increases down the road.