Big Stone Boring

Big Stone Boring

Transaction experience - Big Stone Boring

Redcap&Truss acted as exclusive financial advisor to the ownership of Big Stone Boring Ltd. (“Big Stone”) on its sale to Big Bore Directional Drilling Ltd. (“Big Bore”).

Big Stone was founded in 2012 to provide specialized Directional Drilling services to the oil and gas industry.

Based in Lloydminster, Alberta, Big Bore Directional Drilling was started in 2009.  Big Bore primarily specializes in Directional Drilling, Boring, Trenchless Installation and Horizontal Drilling.

Redcap&Truss acted as the exclusive financial advisor to Big Stone’s shareholders and facilitated the sale by:

  • Analyzing Big Stone’s financial statements, asset list and its service offering (both historical and future) and developing an initial estimate of sale value
  • Reviewing the proposal documents presented to Big Stone by Big Bore and advising on the terms and conditions of their proposal
  • Quarterbacking all due diligence and documentation communications required between Big Bore, their accountants and lawyers

Negotiating the final LOI (letter of intent) and PSA (share purchase and sale agreement) with Big Bore

 

When we were having preliminary discussions with Big Bore, we had a general sense of what a fair deal would look like from a money perspective.  The guys at Redcap&Truss confirmed our initial thinking, but also brought to the table some creative ideas on the other non-financial deal terms that we were not as familiar with. They did a great job in a short amount of time and negotiated a great deal for all sides .” –  Michael Dorsett, shareholder of Big Stone Boring Ltd.

 

If you are interested in learning more about selling your business, the current market environment or are looking to acquire, please contact us.