Oakville Hydro Corporation Acquires Peninsula Video & Sound Inc.

Active in Ontario’s locates business since their recent acquisition of El-Con Construction, a utility asset services business serving Halton Region, OHC saw PVS as a strong compliment and opportunity to expand both the revenue and geographic service area of their business.

For more than 30 years, PVS has been one of Southern Ontario’s leading asset inspection, repairs and maintenance, and installations services. Based in the Niagara Region, PVS is an industry leader with a solid reputation and prominent, long-term customers in the municipal, utility, commercial, telecommunications and residential markets.

“PVS seemed to us an attractive acquisition for both for strategic and defensive reasons,” said Rob Lister, CEO at Oakville Hydro Corporation.“We had been shaping our energy services growth strategy and saw an opportunity in the Provincial consolidation of strong, performing businesses in the asset mapping and marking sector,”

“But the infrastructure services market is a hot one these days so we also saw the danger of a potentially well-capitalized competitor gaining market entry via a solid player like PVS, and that was daunting. We needed to explore the acquisition of PVS,” he continued.

Acting as exclusive M&A advisor on behalf of the energy services business, Spara Capital worked with OHC to determine the most appropriate outreach strategy and the requisite information to properly understand and value the business. Spara also spent time understanding OHC’s strategic needs and wants as well as their internal processes and culture.

“Spara Capital used a professional and collaborative approach in managing this Transaction, “said Scott Mudie, Vice President of OHC. “I think both OHC and PVS were appreciative of Spara’s work to keep us focused on the issues and ultimately for a smooth Closing,” he added.

Spara’s efforts were indeed recognized by both the Buyer and Seller as being a major force in the speed and efficiency with which the Transaction was completed.

“Spara Capital was instrumental in establishing an aggressive tempo and a fair and pragmatic process that gave me great confidence that this deal was going to close,” said Rich Dekker, Founder of PVS.

“Spara’s experience in the infrastructure services business, their strong process and tenacity played a big part throughout this Transaction,” he added.

Spara Capital originated, structured and negotiated the Transaction.