Description of Transaction
Sequeira Partners was engaged to assist McCoy Corporation with the divestiture of Peerless Limited, a non-core operating segment. The sale supports McCoy Corporation’s strategy to become a pure play developer and provider of advanced tubular products and technologies, as well as increase their focus on international expansion. Sequeira Partners provided advisory assistance to McCoy Corporation through a structured sale process including pricing, the approach to targets, due diligence, the negotiation of transaction terms and final deal completion.
Founded in 1944, and had been part of McCoy Corporation since 2004, Peerless is a highly specialized trailer and chassis designer and manufacturer for a variety of industries including oil and gas, mining, forestry, logging and construction. Peerless Limited’s innovative and high quality products have earned it a strong reputation as a premier manufacturer of custom chassis and oilfield trailers. It offers products under two well-recognized brands in the heavy-haul and custom chassis market: Peerless in Western Canada and Scona in the United States.
McCoy Corporation provides innovative products and services to the global energy industry. McCoy Corporation operates internationally through direct sales and distributors with its operations based out of Western Canada, the U.S. Gulf Coast, Europe and Asia-Pacific. McCoy Corporation’s corporate office is located in Edmonton, Alberta, Canada with offices in Alberta, Louisiana, Texas, Aberdeen, Singapore and Luxembourg.
Manac is the largest manufacturer of trailers in Canada and a leader in the manufacturing of specialty trailers in North America. The Company offers a wide range of vans, flatbeds and specialty trailers such as dumps, low beds, grain hoppers, chip and logging trailers. Manac services the heavy-duty trailer industry for the highway transportation, construction, forestry and agricultural sectors and manufactures its trailers in facilities located in Saint-Georges, Quebec as well as Oran and Kennett, Missouri.