Deal Completion: Commercial Vehicle Fleet Management Business
Toronto, Canada, April 3, 2023 – The Beacon Transaction Advisory team is excited to announce the completion of another transaction in a busy first quarter of 2023. Having worked with the client from initial valuation and strategy through deal completion, the Beacon team is pleased to see another successful business started by an entrepreneur find a home with a synergistic Private Equity buyer. The transaction, structured as a Share deal, was completed on March 31, 2023, and is subject to the customary post-closing transitions.
Combination of factors attributed to the business sale achieving 100% of the asking price guideline, with a potential performance-based earnout allowing for even further financial upside to Beacon’s client. Some of these factors included an excellent synergistic fit with the purchaser’s business model and investment thesis and a stellar historic performance and outlook for the existing business.
Acquisition financing was provided by the Bank of Montreal and legal counsel by Stikeman Elliott LLP and Owens Wright LLP.
About the Business:
The company provides fleet management, automotive repair, and maintenance services for corporate commercial vehicle fleets. Established almost 15 years ago, the business is seamlessly integrated with the fleet operations of its clients, thus creating a sticky recurring business model.
About the Buyer:
The Purchaser is a Private Equity firm with a presence through several businesses in the automotive service sector. With the acquisition of Beacon’s client, the buyer is looking to expand its offerings to servicing commercial fleets and large corporate accounts.
Beacon Mergers & Acquisitions is a full-service M&A advisory firm focusing on sell-side, transaction advisory, and business valuations to the lower middle market in Canada and the USA. Beacon’s team of experienced M&A professionals, CBVs, and intermediaries is focused on delivering maximum value for business owners through a technology-enabled approach and streamlined processes. Beacon is a member of a number of professional organizations, including Pandion Partners, a global network of M&A advisors with offices in over 30 countries.