Closing the deal when others couldn't
Versature is a rapidly growing Canadian VoIP service provider. The company acknowledges it plays in a very competitive space, albeit one that is ripe for a shake-up of the large, slow-moving incumbents. Versature had positioned itself well to be that disruptor, but needed more resources and sought a strategic partner. Previously, the company had been through an unsuccessful sale process with another corporate finance firm. A decision was made to work with FirePower after receiving assurances that the firm would be undaunting in casting a wide buyers’ net and additionally, would run a carefully considered sale process.
FirePower’s M&A Advisory team crafted a story highlighting Versature’s strong growth story, brand, people and processes, then approached more than 200 prospective buyers, and received bids from 4 strategics. The most compelling offer came from net2phone, a subsidiary of US public company, IDT.
Our team played a critical role throughout the letter of intent (LOI) negotiations, bridging differences in terminology and formulas. As Paul Emond, CEO of Versature explains: “The team's execution was impressive, guiding us through the final stage of the process to a successful close within 90 days of signing the LOI.”
Under new ownership, and with expanded access to capital, Versature is well-positioned to accelerate its growth trajectory in the Canadian market, and collaborate on initiatives within IDT abroad.
Last Call Analytics
When FirePower first met Last Call Analytics, the company was building custom big data analytics and visualization software platforms for frontline sales staff, primarily of beverage & alcohol distributors, but also for clients in other industries. Last Call needed capital to grow, as well as strategic guidance to develop a stronger revenue model and focused direction. FirePower invested both capital and hard work, shifting the revenue model, focusing its resources, and ultimately, helping the company achieve its potential.
One of three equal shareholders of Corrosion Service, an infrastructure services company, approached FirePower, seeking to buy out the other two. Although this was a highly sensitive situation, we were able to structure a deal that led to a successful close.