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.
Versature is a rapidly growing Canadian VoIP service provider that had been through an unsuccessful sale process with another corporate finance firm. FirePower’s M&A Advisory team crafted a story highlighting Versature’s strong growth, brand, people and processes. The most compelling offer came from net2phone, a subsidiary of US public company, IDT. Under this new ownership, Versature is well-positioned to accelerate its growth trajectory.
GrowthGenius is an AI-assisted sales prospecting service provider for B2B businesses, based in Toronto. The company needed financing to fund its rapid expansion. Raising equity was unappealing because of the high cost of dilution, so the founders sought out a debt solution. After meeting with multiple lenders, they selected FirePower, whose efforts to get to know the founders, understand the business, and tailor a loan structure that worked for the company and its owners proved to be the difference.
From the archives: April 2020
Leadership during the COVID pandemic in the Canadian mid-market: a virtual roundtable of owners.
COVID-19 has upended billions of people’s lives. The economic damage is already significant and far-reaching. In Canada, mid-market business owners are deeply concerned about…