Silkstone Granite & Tile
Location: Calgary, AB
Industry: Construction Service and Supply
True North M&A Successfully Advised the Shareholders of Silkstone Granite & Tile on their Sale to a Sole Proprietor
Silkstone and Granite provides a variety of products, including countertops, fireplaces, kitchen and bathroom vanities, cabinets for residential and commercial needs in the Calgary and surrounding area. The business has been a staple in the community for over 15 years.
- True North was engaged after an unsuccessful contract with a local Business Broker for 2 years
- True North’s process produced multiple buyers within a few months
- Quick close at full asking price
Silkstone and Granite had contracted an Alberta Business Brokerage for 2 years to sell their business with no success. When True North reached out to Silkstone, they had lost confidence in the sales process, and thought they would have to liquidate their business, and take a loss. True North stepped in and provided consultation on how to sell their business in the current market conditions, and what an approximate fair market value would be. Very quickly, Silkstone realized the issue wasn’t their business, but the broker they had initially chosen.
True North recommended a strategy to work with a 3rd party business valuator, and concurrently, started drafting a compelling CIM and target lists for their outreach. By working diligently on separate tasks, True North was able to penetrate the market in a very short timeframe and garnered several full-price offers. True North and Silkstone met with all interested buyers on the property discretely after hours.
Once all meetings were wrapped up, True North advised Silkstone on the risks and opportunities with each of the buyers. Silkstone ended up choosing the sole proprietor to take over the business, as the financing was most favorable to the seller, and there was a quick due diligence period and expedited transition period.
Thanks to the shareholders of Silkstone for trusting True North in the successful sale of your business.
I didn’t think I was ever going to be able to retire after the first time we tried to sell the business. When I met True North, I felt much better, and I was confident that they would do what they said they would do. I was so happy with them, and everything that they did for the sale of the business and real estate. They were always there to help me, answer questions and carry the transaction forward with efficiency. I got the price that I wanted, and was able to fulfill my dreams and retire in Panama!
Former Owner of Silkstone Granite and Tile