Redcap&Truss acted as exclusive financial advisor to Polyphase Engineered Controls (1977) Ltd. (“Polyphase” or the “Company”) on the Company’s sale to the wholly-owned subsidiary of Wajax Corporation (“Wajax”), Tundra Process Solutions Ltd. (“Tundra”).
Polyphase, based in Edmonton Alberta, was founded in 1977 and employs 44 people, including a team of skilled wiring and panel assemblers, and operates facilities in Calgary and Edmonton. It delivers electrical controls for the oil and gas, utilities, mining, forestry and agricultural sectors.
Founded in 1999 and acquired by Wajax in 2021, Tundra plays a key role in Wajax’s Industrial Parts and Engineered Repair Services growth strategy. It provides maintenance and technical services to customers in the western Canadian midstream oil and gas, oil sands, petrochemical, mining, forestry and municipal sectors. Tundra also distributes a diverse range of industrial process equipment, representing industry-leading manufacturers of valves and actuators, measurement and analytical solutions, electrical solutions – including motors, drives and electric vehicle charging, electrical and control buildings, boilers and water treatment solutions.
Redcap&Truss acted as a financial advisor to Polyphase and facilitated a transaction by:
- Analyzing Polyphase’s financial statements, asset list and its service offering (both historical and future) and developing an initial estimate of value
- Creating a target list of suitors and drafting all marketing materials to be used with potential buyers
- Approaching targets and gauging their interest in continuing a dialogue with Polyphase
- Quarterbacking all due diligence and documentation communications required between Polyphase’s advisory team and Wajax/Tundra’s
- Advising on the LOI (letter of intent) and Definitive Documentation (share purchase and sale agreement) with Wajax/Tundra
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