Redcap&Truss acted as exclusive financial advisor to the ownership of Excel Projects Ltd. (“Excel”) on its sale to Utility Infrastructure Group Limited (“UIG”).
Excel, based in Edson, Alberta, specializes in pipeline construction ranging in size from 2” to 16”. Excel offers several full-time pipeline and facility crews located across Western Canada with concentrated activities in Central Alberta. Excel’s experienced team has successfully completed projects ranging from oil and gas gathering systems (Steel, Fiberglass, Fiberspar, Flex Steel or HDPE), line repairs, riser installations, multiple well tie-ins, compression projects, plant turnarounds and maintenance.
UIG is a Canadian based company focused on the construction and design of utility and infrastructure assets.
Redcap&Truss acted as the exclusive financial advisor to Excel’s shareholders and facilitated the sale by:
- Analyzing Excel’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 Excel’s shareholders with an analysis of the various proposals offered and making 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 UIG
“As Excel was growing, it became evident that we required a strategic partner to assist in the continued growth of the Company. Redcap&Truss identified UIG, as a strategic partner that would provide us with additional expertise in the construction industry while enabling us to continue to grow our business.” – JD Kehler, shareholder of Excel Projects Ltd.
If you are interested in learning more about selling your business, the current market environment or are looking to acquire, please contact us.