Case Study
Passing the Torch:
How Promac Engineered a Win-Win Succession & Sale
“ ”
Thanks to Whitehorn for all their help. The team’s demeanour and business-like approach kept the process smooth-sailing and allowed me to achieve my retirement objectives. I would have no qualms recommending their services.
Sean Monaghan, Promac Founder & President
Company Background:
Promac Industries is a Western Canadian contract machining shop specializing in mass manufacturing of turnkey products. Headquartered in Calgary, the company also offers assembly, prototyping and engineering design services to its customers. The company primarily serves the energy sector.
Seeking a Strategic Transition:
The shareholders wanted to retire but also ensure their business, team of employees, and legacy remained intact. They were seeking a strategic party who understood and aligned with their company culture and objectives.
How Whitehorn Maximized Value:
Creating a Competitive Market: Solicited multiple offers from various strategic buyer groups, including for the real estate.
Minimize Business Disruptions: Assisted with due diligence including financial assessment, legal assistance and operational review, allowing the owners to focus on the business performance throughout the transaction process.
Legacy Secured: All employees kept their jobs. The Promac name continues to operate until today. The shareholders achieved a satisfactory price for the business and the real estate.
