Recommendations for Lenders on a Europe-Canada Engineering/Software Deal
August 02, 2024
by a searcher from IESE Business School in Waterloo, ON, Canada
Hi everyone,
Does anyone have recommendations for lenders that would be interested in providing a loan for the acquisition of a European software distributor / engineering service provider by a relatively new Canadian software distributor / engineering service provider?
Background:
After 10 years working directly for a software development company, I recently (end of###-###-#### founded a software distributor and engineering service provider to help that company bring their software to the North American market. We now have the opportunity to acquire one of the European distributors of that same software - they are ready to retire. It is a relatively small company (~1M€ revenue).
I am looking for a loan of around $250k CAD to complete the acquisition, but have been running into some hesitation from local Canadian banks because the other company is in Europe, and because my company is so new, there is not much of a financial history to work from. I am in discussion with BDC about a startup loan, but would like to consider other options. I am hoping the Searchfunder community might have some good tips which lenders to speak to, as they are accustomed to evaluating a deal based on the other company's financials.
Any advice would be very welcome!
Best regards,
Alex
from Indian Institute of Technology, Madras in Toronto, ON, Canada
from Massachusetts Institute of Technology in Portland, OR, USA
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