Valuation
EQUIVAL
Understand a company’s economic value before a transaction process defines the price.
Capital partner search · Confidential document
A BUILDER.
NOT JUST A SOURCE
OF CAPITAL.
We are looking for an entrepreneur who has built a business, created value, completed an exit—and now wants to build again.
Our ambition is to combine entrepreneurial capital, proprietary deal flow, and proven execution capabilities to build a sector consolidation platform in Canada.
01 · The opportunity
THE BEST COMPANIES WILL HAVE NO SHORTAGE OF BUYERS.
The advantage will come from seeing them early, understanding their potential, becoming the preferred buyer—and then creating more value after the transaction.
01
See before the marketReach entrepreneurs and companies before a formal process begins.
02
Buy with disciplineBase the price on the company’s economic quality rather than auction dynamics.
03
Create after closingMake integration, governance, talent, and execution the drivers of value creation.
04
Use timeDeploy when the right company appears. Wait when the market does not offer the right opportunity.
02 · Why 1+1
WE COME FROM OPERATING BUSINESSES. NOT FROM CAPITAL.
For fifteen years, 1+1 has worked alongside owners and management teams on strategy, governance, execution, and value creation. That proximity has created an ecosystem that is difficult to replicate.
Transaction
CARDINAL
Support acquisition execution, structuring, and the critical stages of a transaction.
Access
RÉSEAU 1+1
Entrepreneurs, executives, and shareholders with whom we work directly, often before any formal intention to sell.
03 · The model
ONE PLATFORM. MULTIPLE ACQUISITIONS. ONE DISCIPLINE.
Consolidation is the vehicle. Operational value creation is the engine.
01 · SOURCE
BEFORE THE MARKET
Identify quality companies through the proprietary relationships of the 1+1 ecosystem.
02 · ACQUIRE
WITH DISCIPLINE
Establish an anchor platform, then progressively complete add-on acquisitions.
03 · INTEGRATE
WITHOUT BREAKING
Install governance, systems, talent, and operating cadence without destroying what makes the company perform.
04 · CREATE
OPTIONS
Build a stronger asset with multiple options for ownership, recapitalization, or exit.
04 · The roles
TWO PARTNERS. TWO RESPONSIBILITIES.
THE CAPITAL PARTNER
- Provides the capital required to develop the platform.
- Serves on the board and contributes to major strategic decisions.
- Challenges acquisitions, financing, capital allocation, and exit decisions.
- Puts their experience and network to work for the company.
- Governs. Does not run day-to-day operations.
1+1
- Provides sourcing, the investment thesis, and analysis.
- Leads integration and operational value creation.
- Establishes governance, systems, and execution cadence.
- Supports management teams and reports to the board.
- Carries the execution responsibility.
We are not looking for someone to finance our work. We are looking for someone to build with.
05 · Profile sought
THEY HAVE SOLD. BUT THEY ARE NOT FINISHED.
THEY ARE LOOKING LESS FOR AN INVESTMENT THAN FOR THEIR NEXT ENTREPRENEURIAL CHAPTER.
Our ideal partner has experienced value creation from the inside. They understand the pressure of payroll, a major customer, a team, and a balance sheet.
They now have capital, but more importantly, the judgment that comes from having had to create it.
They probably no longer want the first call when a plant shuts down. But they still want to understand, decide, contribute, mentor, create—and win.
06 · Signs of fit
WE WILL QUICKLY KNOW IF WE ARE SPEAKING WITH THE RIGHT PERSON.
Signal 01
THEY ASK “WHO?” FIRST
The team, the leader, and their capabilities matter before the multiple.
Signal 02
THEY WANT TO UNDERSTAND VALUE CREATION
Not only how the transaction will be financed.
Signal 03
THEY CAN SAY NO CLEARLY
Fast, candid, direct, and predictable in their decisions.
Signal 04
THEY DISTINGUISH GOVERNANCE FROM MANAGEMENT
They challenge in the boardroom, then let those responsible execute.
Signal 05
THEY PREFER BUILDING TO COLLECTING
The number of acquisitions is not the score. The quality of the business built is.
Signal 06
THEIR WORD CARRIES WEIGHT
Contracts frame the relationship. Trust makes it possible to build together for ten years.
07 · Exclusion criteria
THIS PARTNERSHIP IS NOT FOR EVERYONE.
Exclusion 01
OPERATIONAL CONTROL
Wants to take over day-to-day management of the company.
Exclusion 02
INSTITUTIONAL CYCLE
Must deploy or exit according to a rigid external timeline.
Exclusion 03
CAPITAL WITHOUT OPERATING EXPERIENCE
Has never personally carried responsibility for a business.
Exclusion 04
PASSIVE RETURN
Seeks only financial exposure to privately held businesses.
Exclusion 05
DEALS BEFORE BUSINESS
Measures progress by the number of deals rather than the value created.
Exclusion 06
MANAGEMENT SEEN AS A COST
Assumes existing entrepreneurs and leaders are replaceable.
08 · Our moral contract
THREE PRINCIPLES BEFORE THE FIRST DOLLAR IS INVESTED.
TOTAL TRANSPARENCY
Numbers, risks, mistakes, and bad news travel quickly. No managed surprises in the boardroom.
CLEAR GOVERNANCE
The board decides the major directions. 1+1 and management execute. Decision rights are established in advance.
ECONOMIC ALIGNMENT
The partner, 1+1, and management must win for the same reasons. The structure must make the right behaviours rational.
09 · Next step
1+1’S NEXT PARTNER IS PROBABLY ALREADY AN ENTREPRENEUR WE RESPECT.
They built something. They created value. They sold.
And now they are asking: “What do I build next?”
And now they are asking: “What do I build next?”
If this sounds like you—or brings someone in your network to mind—we would welcome the conversation.