Redcap&Truss acted as exclusive financial advisor to the shareholders of TH Vac on the sale of their business to Torq Energy Logistics.
TH Vac was founded in 1991 and provides vacuum truck and other fluid services to the oil and gas industry in the greater Kindersley Saskatchewan region. Torq Energy Logistics is a progressive and independent energy logistics and midstream company that operates multi-product terminals, storage and associated trucking and rail logistics in Western Canada.
Redcap&Truss acted as the exclusive financial advisor to TH Vac’s shareholders and facilitated the sale by:
- Analyzing TH Vac’s financial statements, asset list and its service offering (both historical and future) and developing an initial estimate of sale value
- Developing a sales strategy, creating the marketing plan and identifying and approaching prospective buyers (both strategic buyers and private equity firms)
- Providing TH Vac’s shareholders with an analysis of the various proposals offered and made 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 Torq Energy Logistics
“Chris and Patrick did a fantastic job of guiding our shareholder group on how to sell our business. They handled all the little details, set up a process that gave us piece of mind that we were getting a fair price for our business and gave us no nonsense and honest answers to all our questions. We are extremely pleased to have hired the Redcap&Truss team.” – Tim Harris, majority shareholder of TH Vac
If you are interested in learning more about selling your business, the current market environment or are looking to acquire, please contact us.