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 M&A Advisory division generated multiple proposals from institutional 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 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.
CSR Cosmetic Solutions
The owner of CSR had taken over the business out of bankruptcy. After successfully building it into one of the largest cosmetic contract manufacturers in North America, he was ready for a well-deserved retirement. A previous sale attempt (by a top-tier accounting firm) was unsuccessful in 2015.
Decisive Technologies is a value-added reseller of IT hardware, and BriteSky Technologies is a Canadian, managed cloud services provider (collectively “Decisive”). Decisive needed additional capital to accelerate its expansion plans. The shareholders were adamant that a new institutional partner should share their values and vision for the company, and FirePower was engaged to find an acquirer for a majority stake and negotiate a deal structure that met all of the shareholders’ objectives.