Sequeira Partners acted as exclusive financial advisor to Tartan Canada Corporation (“Tartan”) on its sale to Stuart Olson Inc. (“Stuart Olson”).
Description of Transaction
Sequeira Partners was engaged by Tartan to assist with the divestiture of the business. The Sequeira team advised Tartan through a sale process including initial valuation analysis, running the marketing process; negotiating deal terms, transaction structure, and consideration; managing the due diligence process and negotiating final transaction terms.
The sale of Tartan to Stuart Olson allowed Tartan shareholders to monetize their investment, while allowing Stuart Olson to expand the abilities of its Industrial Services division, providing access to a larger share of the industrial market.
Founded in 1953, Tartan is a leading provider of heavy industrial services in Western Canada. Headquartered in Calgary, Alberta, the Company has expanded to provide an extensive suite of mechanical maintenance, repairs, and operations (MRO) services. Tartan serves conventional oil and gas, oil sands, upgrading, refining, petrochemical, midstream, power and utilities, pulp and paper, potash and mining industries. Over the past 65 years, Tartan has developed a reputation for excellence in quality and safety.
Stuart Olson Inc. provides general contracting and electrical building systems contracting in the public and private construction markets as well as general contracting, electrical, mechanical and specialty trades, such as insulation, cladding and asbestos abatement, in the industrial construction and services market. The Company operates office locations and projects throughout Western Canada, Ontario and the territories. Stuart Olson was recognized as one of Alberta’s Top 70 Employers in 2018 for the second consecutive year.