Beacon Completes Sale of Rand Electric to a Strategic Buyer
Toronto, Ontario, June 2019 – Beacon Corporation (“Beacon”) is pleased to
announce the completion of the sale of Rand Electric (“Rand”), a leading GTA
electrical contractor, to a strategic buyer (“Buyer”), with the deal completing in
June 2019. Beacon was the exclusive sell-side advisor to Rand.
Beacon was engaged by Rand Electric in November of 2018. After running a
confidential sale process for approximately four months, the business owners
accepted a strong offer from a strategic buyer with a portfolio of complementary
businesses in March of 2019. Following extensive due diligence, the
transaction completed in June 2019.
“When selling a contracting business, even as established and reputable as
Rand, it is all about finding the right buyer with understanding and interest in this
particular trade. While we had no lack of interested parties for the business, the
focus always was on identifying a strategic buyer that saw the value and knew the
industry well. The fact that the business is thriving, and growing post-acquisition
is a true testament of how important finding this right fit is”, noted Alex Shteriev,
Partner and Co-Founder at Beacon.
About Rand Electric
Established in Ajax in 1981, over its 35-year history, Rand Electric grew to
become one of the premier and most respected electrical contractors in the
Durham Region. The business has a diversified portfolio of clients with a large
base of commercial accounts and a well-recognized brand among residential
customers. Built on punctuality and quality of work, the business has developed a
strong brand name backed by its exceptional staff.
Beacon is a full-service business merger & acquisition advisory services firm with
offices in Toronto and Washington, D.C. Beacon’s services include business
valuations, targeted confidential marketing, qualification and pre-screening of
prospects, assistance in negotiation and due diligence process in a holistic
Transaction Advisory approach. Beacon is a twice recipient of the Consumer
Choice Award for Best Business Brokerage Firm in Toronto, and a member of
several international M&A organizations.