TH Vac was founded in 1991 and provides vacuum truck and other fluid services to the oil and gas industry in the greater Kindersley Saskatchewan region. Torq Energy Logistics is a progressive and independent energy logistics and midstream company that operates multi-product terminals, storage and associated trucking and rail logistics in Western Canada.
Redcap&Truss acted as the exclusive financial advisor to TH Vac’s shareholders and facilitated the sale by:
- Analyzing TH Vac’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 TH Vac’s shareholders with an analysis of the various proposals offered and made 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 Torq Energy Logistics
“Chris and Patrick did a fantastic job of guiding our shareholder group on how to sell our business. They handled all the little details, set up a process that gave us piece of mind that we were getting a fair price for our business and gave us no nonsense and honest answers to all our questions. We are extremely pleased to have hired the Redcap&Truss team.” – Tim Harris, majority shareholder of TH Vac
If you are interested in learning more about selling your business, the current market environment or are looking to acquire, please contact us.