Location: Kelowna, BC
Industry: Saas / Technology / Support
True North M&A Successfully Advised the Shareholders of Liveport Wireless on their Sale to Strategic US Buyer
Liveport provides the hospitality industry’s easiest and most reliable high-speed wireless Internet solution and 24/7 toll-free guest support to hotels across Canada.
- Multiple offers from US and Canadian parties
- Sold for 5.5X multiple
- All cash close within approx 8 months
Liveport contacted True North to be their advisor on the sale of their business. True North recommended a strategy to work with a 3rd party business valuator, and started drafting a detailed CIM and target lists for their outreach. True North wanted to ensure that they were reaching targets across PE firms, strategic buyers, and entrepreneurs. By targeting all three segments across North America, Liveport would be marketed at a multinational level which True North felt would produce the highest sale price.
The outreach was successful and garnered a list of bidding parties, with competitive offers. True North advised Liveport on the various Letters of Intent, and looked at the options holistically, as there were many terms and details in each offer. The top 2 were asked to complete a site visit and evaluation. Based on the meetings, and direction from True North, Liveport chose a strategic US buyer.
Due diligence began, and the US buyer began bargaining, trying to discount the value of Liveport. True North was determined to maintain the price that was initially agreed upon, and spent many meetings negotiating, until the prospective buyer conceded and agreed to pay the price agreed on.
Liveport sold for a great multiple over industry average, and the transition period was under 3 months.
Thank you to Gerry and Danny Liveport for putting your trust in True North for the successful sale of your business.
True North was always professional, structured and disciplined. They always had the utmost integrity without ever compromising our position. Not only did I feel that they had my best interests at heart, they were also there to have my back in any conversation or negotiation that came up. From the first introduction to the final signature, True North was there to represent me, and negotiate the highest sale price.
Former Owner of a BC Tech Company