Sequeira Partners acted as exclusive financial advisor to Accede Energy Services Ltd. (“Accede”) in its recapitalization by Sandton Capital Partners LP. (“Sandton”). The transaction closed in December 2016:
Description of Transaction
Sequeira Partners was engaged to assist Accede Energy Services in the evaluation of transaction alternatives for the Company, including a recapitalization or sale of the business. Sequeira assisted Accede through a structured process; identifying and targeting potential investors and acquirers, marketing the business, assisting through due diligence, and negotiating terms of a transaction with Sandton and Accede’s previous lenders.
The transaction provided Accede with a reduction in total indebtedness and a new, patient lender that provided management with additional flexibility to meet its growth plans and with minimal dilution to the shareholders.
Based out of Blackfalds, Alberta, Accede was established in 2010 by three shareholders. Through a combination of organic growth and acquisitions, Accede has established a sizable footprint in Western Canada within the energy services space via its three divisions – Rental, Fire & Safety, and Valve Servicing.
Sandton specializes in providing solutions for situations that are too difficult for more traditional sources of capital to navigate. Whether supporting a management team through a complex business transition or helping a bank exit a troubled loan, Sandton is an effective capital source for challenging situations. Since 2009, Sandton has executed transactions totaling approximately $1.5 billion across a diverse range of industries, geographies and financial structures.