Case Study

Evans-Tedham Lumber

Location: Calgary, AB
Industry: Construction Service and Supply

True North M&A Successfully Advised the Shareholders of Evans-Tedham Lumber on Their Sale to a Strategic Partner

Evans Tedham provides a full line of building products including decking, lumber, industrial insulation and insulated concrete form blocks. Their roots go all the way back 100+ years, and service Calgary and surrounding areas.

  • True North was engaged after an unsuccessful contract with a US M&A firm for 2 years
  • True North’s process produced multiple buyers within a few months
  • Quick close with minimal transition period

True North was contacted by Evans Tedham to advise on the sale of their business, and had several concerns surrounding their minority shareholders. True North worked diligently with Evans Tedham to engage the minority shareholders, outlining the benefits of the potential sale and encouraged the team to seek the same objective. Support for the sale from all shareholders was established, which made the sales process easier for everyone involved.

True North constructed an extensive target list, and within a short period of time they had put together a group of interested parties. With no specific price listed for the business, True North coached the potential buyers to submit offers in a range which would result in a very competitive multiple/sale price.

Multiple offers were submitted, and there was one clear winner, which was vetted through a site visit, and several meetings to discuss details. Although the buyer was adamant on negotiating a lower price, True North was able to overcome the objections as their assessment of value was based on industry information, an extensive business valuation (completed by a third party) and areas of growth and opportunity for Evan Tedham were outlined. The buyer eventually agreed with the justification of value, and the business closed a few months later after due diligence was complete.

Many thanks to Patti and the other shareholders atEvans Tedham for your trust in True North on the successful sale of your business.


True North took great leadership of the entire sales process, and quickly diminished my hesitation of using another M&A firm. They were masters of negotiating, very thoughtful, kind, and knowledgeable. I am very happy with the final outcome/sale price, and True North made the experience as seamless as possible, guiding me through each step with compassion, and a winning strategy during an emotional time in my life. I can’t thank True North enough!

P. Parlow

Former Owner of Evans Tedham Lumber