Aquaculture Systems

Our longest engagement required two marketing campaigns and is in Sequoia’s due diligence “Hall of Fame”, at least figuratively.

With one week until closing, the multinational purchaser-to-be completed arrangements for a closing celebration and booked flights to Vancouver. At the same time, a discrepancy was inadvertently uncovered in a key employee’s immigration paperwork — it was forged! A last minute request by the buyer’s counsel for direct access to the immigration authorities transformed the atmosphere from anticipation to trepidation. Unable to evade the request, the key employee capitulated and admitted to tampering with the entry records, leading to immediate termination of the employee’s contract and the collapse of the deal. Needless to say, the imminent retiree shareholders were devastated.

Unfazed by the setback, Sequoia remained committed and redoubled its efforts with a new marketing effort. Again, multiple offers were garnered for the company, including one from a party that was not in “acquisition mode” previously. This party eventually became the successful bidder.