Description of Transaction
Sequeira Partners was engaged by the majority shareholders of IPAC to assist with the divestiture of their stake in the business. The Sequeira team advised IPAC 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 IPAC to Strait allowed IPAC shareholders to monetize their investment, while allowing Strait to provide its customers with a larger labour and equipment resource base, additional expertise and service lines, and an expanded geographic footprint.
IPAC Services Corp
IPAC Services Corp has been in operations since 1989 with a Project Management Office in Calgary and operations centers in Grande Prairie AB and Fort St. John BC, specializing in industrial coatings in both shop and field, powder coating, scaffolding, insulation, structural steel, carbon and stainless steel piping fabrication, pipe rack modules and skid fabrication and facility construction and maintenance.
Strait Group Ltd.
Strait Group Ltd. has been in operation since 2007 with a Corporate Office in Calgary and operations center in Fort St John BC. Strait specializes in oil & gas pipeline and facility construction, maintenance and turnaround projects, integrity, and maintenance projects across Western Canada.