SATOV’s work with businesses across North America often takes us to new and exciting places. A recent case we completed with Clearspring Capital Partners did just that.
Clearspring is a long-time client of ours, and we have worked with them on numerous transactions and on value creation initiatives in their portfolio. We always have a great experience working with the Clearspring team, so we were thrilled when they called us to support commercial due diligence for a new asset they were buying: INNOTEX, a Canadian leader in firefighter safety gear and equipment.
We are no stranger to public safety and first-responder industries, having spent time working with Demers Ambulances, another Clearspring-owned asset, as well as BK Technologies, a provider of communication equipment to fire departments all over the world. As with any CDD engagement, our goal was to analyze the market and assess the target’s position within it. By providing an objective, fact-based analysis, we delivered insights to enhance Clearspring’s decision making process and identify the path forward together.
Our approach centered on primary research; given the unique position of decision-makers within the industry, we had to get creative to reach our interview targets. Fortunately, our project timeline aligned with FDIC, North America’s largest annual firefighting conference. With over 30,000 professionals present, FDIC was a prime opportunity to gain hands-on experience in a fast-paced and dynamic industry. We connected with manufacturers, suppliers, fire chiefs, dealers and reconnected with our old clients at Demers and BK. The conference allowed the SATOV team to reach dozens of experts in just a few days, which greatly accelerated our learning.
Throughout this engagement, we also had a transparent and open process with INNOTEX management, facilitating open communication, collaborative analysis and a smooth diligence process overall.
Congratulations to Clearspring and INNOTEX on getting the deal closed back in July. We are pleased to share that Mark will also join the INNOTEX Board. We look forward to seeing the company’s continued success.