Founded in 2006, GRV offers hydrovac services to a wide range of industries from its headquarters in Spirit River, Alberta.
Ignite Energy Services is a portfolio company of 32 Degrees Capital and provides fluid production hauling, vacuum and pressure truck services to clients in Western Canada.
Redcap&Truss acted as the exclusive financial advisor to GRV’s shareholders and facilitated the sale by:
- Analyzing GRV’s financial statements, asset list and its service offering (both historical and future) and developing an initial estimate of sale value
- Providing GRV’s shareholders with an analysis of the various proposals offered and making recommendations on the pros and cons of each
- Quarterbacking all due diligence and documentation communications required between all the potential buyers, accountants and lawyers involved in the transaction
- Negotiating the final LOI (letter of intent) and PSA (share purchase and sale agreement) with Ignite
“I initially met Redcap&Truss at the end of 2012. At that time they advised me to continue to grow my business as they thought it was too early to sell it. By the summer of 2014, we engaged them and they thoroughly managed the sales process through the end of 2014 ensuring that our business was sold just prior to the downturn in 2015.” – Craig Heitrich, majority shareholder of Glacier Ridge Ventures Ltd.
If you are interested in learning more about selling your business, the current market environment or are looking to acquire, please contact us.