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Client Work

Comact Equipment purchased by former employees

Fasken
Reading Time 1 minute read
Client

Confidential Client

Mtre Chaurette represented a group of employees who together decided to purchase the company they worked for, Comact Equipment Inc. This purchase was concluded in 2006 when the company was put up for auction by a business broker on behalf of the seller. The transaction called for the negotiation and establishment of financing with the Fonds de solidarité des travailleurs du Québec (FTQ), Desjardins Venture Capital, Roynat Capital Inc. and the Business Development Bank of Canada. The successful conclusion of the transaction was conditional, if the purchase was to be closed, on part of the company's assets, namely two factories operating abroad, being sold to third parties.