Corporate Finance in Atlantic Canada

Commentary on corporate finance issues for small- & mid-market private companies in Atlantic Canada

Edible Matters restaurant deal

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https://www.thechronicleherald.ca/business/local-restaurant-edible-matters-gobbled-up-248996/

The Chronicle Herald is reporting that the Hammond Plains restaurant/bar Edible Matters has been sold.  The Webber family sold to the Doherty family, which owns the Old Triangle bars throughout the Maritimes.

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Written by Dan Jennings

November 23, 2018 at 2:13 pm

Business succession in NL

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https://soundcloud.com/vocm/sept-1st-greg-london-dan-jennings-of-bdo-valuing-your

On a recent VOCM radio show in NL (hosted by BDO partner Nancy Snedden), tax colleague Greg London and I talk in-depth about the challenges of business succession in NL.  We covered a wide variety of topics, such as demographics, taxes, the buyer landscape and more.

Written by Dan Jennings

October 26, 2018 at 1:34 pm

Maritime Fuels acquires Affordable Fuels

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https://www.thechronicleherald.ca/business/discount-fuel-delivery-company-bought-by-maritime-fuels-251969/

The Chronicle Herald is reporting that Halifax-based Affordable Fuels has been sold to Maritime Fuels.   Steve Williams was the vendor while Charles Higgins and Ivan Cassell are the principals behind Maritime, which in turn acquired the former Pepco business in Atlantic last year.

This is further consolidation of the heating oil distributor market in NS, which I’ve commented on here over the last several years.

Written by Dan Jennings

October 23, 2018 at 5:06 pm

CRA announces MBO

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http://thechronicleherald.ca/business/1596714-don-mills-reflects-on-40-years-with-cra-and-looming-retirement

The Chronicle Herald is reporting that Don Mills has sold Corporate Research Associates (CRA) to three members of his management team.   Halifax-based CRA is well known in the market research sector and has offices throughout Atlantic as well as Ottawa and Bermuda.

This is another example of a management buyout (MBO), where existing management acquire the business they work for.  Many entrepreneurs are surprised to know that MBOs are a viable succession/exit alternative and that’s because of the prevalence of capital in the marketplace to fund such acquisitions.  Every financial institution likes to fund MBOs and there are also plenty of private equity funds interested in backing management teams.

Written by Dan Jennings

September 13, 2018 at 8:36 am

More insurance broker consolidation

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http://thechronicleherald.ca/business/1558403-long-standing-independent-brokerages-merge

The Chronicle Herald is reporting that Antigonish Insurance and AA Munro Insurance (both Antigonish, NS-based insurance brokers) are merging.

This continues the consolidation trend in the P&C insurance brokerage industry.

Written by Dan Jennings

April 3, 2018 at 9:15 am

Levy’s Leathers sold to Florida buyer

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http://thechronicleherald.ca/business/1546463-antigonish-business-levy%E2%80%99s-leathers-bought-by-u.s.-company

The Chronicle Herald is reporting that Antigonish-based Levy’s Leathers has been purchased by Florida-based Gator Cases.  A manufacturer & reseller of guitar straps and cases, Levy’s Leathers has been operating in Antigonish, NS for decades.  Gator Cases has made several acquisitions over the years in the musical instrument manufacturing/distribution industry, while its US manufacturing is based in Indiana.

Written by Dan Jennings

February 20, 2018 at 8:52 am

Engineering industry consolidation

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http://englobecorp.com/canada/en/nouvelles/february-7-2018-englobe-corp-and-crandall-engineering-ltd-are-joining-forces-in-atlantic-Canada

Quebec-based Englobe has announced an acquisition of Moncton-based Crandall Engineering.  Crandall was employee-owned and is an engineering firm specializing in municipal, water/wastewater, buildings and traffic engineering.  Englobe calls itself one of Canada’s largest engineering firms and specializes in soils, materials and environmental engineering.

This continues the consolidation trend in the engineering sector, including across Atlantic Canada.

Written by Dan Jennings

February 8, 2018 at 10:11 am