An End in Sight

04.10.2021

I have been in Saskatchewan now for two weeks (save for two nights back home in Alberta last weekend), managing the transition of the sale of one of our companies. I'm tired. My mind is wore out. But, I'm happy.

It's not that the company hasn't done well, but we've been wanting to sell it for years now. The first offer we got on it was from a company owned by an ex-NHL player. Apparently not all ex-NHL players are reputable, though, and it didn't take long for that deal to fall through.

In 2018, we were approached by a very large corporation for a potential buyout. They spent a lot of time asking the same questions over and over again, questions that really didn't even apply to our company - which was quite small in comparison to theirs. They couldn't get their crap together, and in the end, we turned down their offer.

Sometime shortly after the large corporation began to show interest, another group of companies also began to show interest. They told us time and again to "name our price" and they'd "write us a cheque."

Since the steel market had been so low for so long, we had managed to stock pile thousands of tonnes of steel, and we weren't going to sell without either getting a good price for all of it in the sale, or shipping it all out prior to selling.

We went back and forth with this third corporation for a while. Finally, once the markets had recovered and we were able to ship out quite a bit of our steel, and the corporation made us an offer. It was an 'OK' offer, but not quite what we were hoping for.

The night before our last meeting, I went over the numbers once more and determined that they would have to pay us quite a bit more than what they'd offered - 50% more - and I went to sleep that night quite depressed that it was likely not going to happen.

When my partner went in to the meeting the next morning, I was only about 30% certain that anything was going to come to pass. Finally I got the call with the details of an updated offer: did we want to accept? We did.

It was then that I was informed that I was to stay here in Saskatchewan to oversee the entire transition and work with staff and the new corporation to make the sale go as smoothly as possible.

Since then it has been many early mornings and late nights, trying to keep up with everything that needs to be done, but there's a light at the end of the tunnel and its approaching rapidly. I can't wait for it all to be over, and the fullness of relief can pass my way.


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