Modern Group of Companies acquired by VINCI Construction
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Summit Electric has been acquired by Sabre
About the client
As a leading industrial electrical contracting company, B.C.-based Summit Electric has been serving clients for almost 20 years across the mining, forestry, and oil and gas sectors.
After being approached by several potential buyers, the shareholders decided the time was right to sell but they didn’t want to go through the sales process alone—and without business advice they could trust. They wanted to prioritize looking after their financial interests, existing employees, and legacy.
Our team was engaged to advise on the sales process. We initially drafted the pricing analysis, then later facilitated conversations with Summit Electric shareholders as they negotiated deal terms and advised them as they navigated complex legal processes. In addition, we provided accounting, tax, and due diligence assistance.
The transaction was ultimately completed with shareholders at Summit Electric and Sabre both achieving their goals. Summit Electric is now set to continue under new ownership, providing the same high standards of safety, workmanship, and performance.
Fast facts
Client
Summit Electric
Transaction type
Divestiture
Services provided
M&A
Sector
Power and Utilities
Close date
February, 2022
The client experience
"The Grant Thornton team was excellent to work with, providing reliable advice and quick responses to our questions. There’s a lot more to selling your business than finding a buyer—as we discovered—so having knowledgeable M&A advisors who’ve led transactions of this nature before helped us smoothly navigate the process. We’re excited to see Summit Electric continue under the new owners at Sabre!"
Trevor Streek, Vice President of Operations/Owner
Summit Electric
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