Mavco Plumbing & Heating
Location: Penticton, BC
True North M&A Successfully Advised the Shareholders of Mavco Plumbing & Heating on their Sale to a Private Equity Firm, CAI Capital Partners
Mavco P&H provides plumbing, heating, air conditioning and refrigeration services to residential, commercial and strata properties, as well as care homes, hospitals, government facilities, restaurants and wineries across the Okanagan.
- Delivered results within Mavco’s tight timelines of 6 months
- Multiple offers from strategic partners, private equity firms, and individual entrepreneurs
- Negotiated favorable terms for the seller including a minimal transition period due to the seller’s health condition
True North was contacted by Mavco as a prospective advisor to assist in selling their business. Mavco met with several firms, but was attracted to True North based on their proven structured sales process, aimed to produce a bidding environment, with multiple offers for sellers to consider. Mavco was also needing to adhere to tight timelines, as there were some health issues with the main shareholder which needed more attention.
True North produced a CIM and a full marketing program for Mavco in a short time frame. True North wanted to ensure that they were reaching targets across PE firms, strategic buyers, and entrepreneurs, all while carefully maintaining the confidentiality of the business.
The outreach was successful and garnered a list of bidding parties, with competitive offers, and great terms. True North advised Mavco on the options, and the top 3 were asked to complete a site visit and evaluation. Based on the meetings, and direction from True North, Mavco chose a private equity company which not only paid the highest multiple on the business, but also agreed to proceed with a short transition period.
The due diligence process was seamless, and completed within a month. Mavco continues to be a staple HVAC business in the interior of BC, with many plans for growth and expansion.
True North thanks the shareholders of Mavco for their trust and commitment during the sales process, and successful closing.
The team at True North Mergers & Acquisitions were always easily accessible, and took the time to understand our business and overall scope. They quickly received multiple offers due to their knowledge and excellent marketing… We were very pleased with their expertise and integrity.
Former Owner, Mavco Heating & Plumbing