We never give up.
Printfleet develops software to collect data from, monitor, and optimize networks of printers and other imaging devices. FirePower was engaged to find strategic buyers with a global reach who could better monetize the software.
The company was in the midst of a strategic rebranding, during which it struggled to find the right tone. FirePower's impact was immediate, in that we gave the process direction, crafting a compelling narrative for the most sophisticated parties in the industry. Our M&A Advisory team spent hundreds of hours learning the platform, its value proposition and its technology.
We initiated conversations with 143 potential acquirers, which included global, blue-chip OEMs and sponsor-backed strategics. 4 firms submitted LOIs and 2 were selected as finalists:
- Buyer 1 – a Japanese technology giant and Fortune 500 member that is the worldwide leader in manufacturing the devices PrintFleet tracks.
- Buyer 2 – ECi, the North American market leader in PrintFleet's sector, which is backed by a US-based $60B AUM private equity firm with over 100 portfolio companies.
After a well fought negotiation, we elected to move ahead with the Japanese buyer.
With legals nearing completion, the Japanese strategic went through an internal reorganization and, just four weeks before closing, terminated the deal. Due to our transparent and candid approach, ECi was keen to return to the table. We successfully re-engaged with ECi on the same terms and conditions as the first LOI, a rare feat given ECi (naturally) knew things fell apart with the other buyer, and closed without major challenges.
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.
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.