Holsag Canada (“Holsag”) is a manufacturer and distributor of institutional furniture for a variety of end markets including: retirement communities, restaurants, hotels, and education. The Company is headquartered two hours northeast of Toronto in Lindsay, Ontario.
NewPoint was retained by the shareholders of Holsag Canada to explore a potential sale of the Company in order to provide liquidity for the Company’s founder and key shareholder. NewPoint assisted the company through the comprehensive operational and financial due diligence process, as well as, the negotiation of all key transaction terms and agreements related to closing.
NewPoint planned and executed a highly confidential sale process including a limited number of financial and highly qualified strategic buyers. After receiving several offers, the offer from Mity Inc., a portfolio company of Prospect Capital Corporation, was chosen due to the certainty of closing and numerous synergies between the two companies.