RTL WESTCAN

The Situation:

• TriWest Capital, a middle market private equity firm and longstanding client, was in the initial stages of preparing to exit its portfolio company RTL WestCa

• RTL WestCan, a leading hauler of dry & wet bulk commodities in western and northern Canada owned 10 strategically located truck terminals that played a critical role in the Company’s operation

• With the help of Andrew Sandquist and JC Asensio, TriWest Capital is able to identify a materially accretive scenario to the overall exit of the investment in which the company’s real estate would be marketed separately from the sale of the company

• TriWest Capital exclusively retains Andrew Sandquist and JC Asensio to lead a sale/leaseback of RTL WestCan’s owned real estate

The Challenges:

• Bond issuances by RTL WestCan included real estate as part of a collateral pool, precluding TriWest capital from monetizing assets during their ownership of the compan
• Requirement for a simultaneous exit of both portfolio company RTL WestCan and closing of sale/leasebac
• Requirement for confidential marketing of both the marketing of the portfolio company RTL WestCan as well as the sale/leaseback offerin
• Specialized assets in tertiary locations with limited residual value to alternative users

The Results:

• A complex and confidential marketing effort by the execution team generated a high level of interest and several offers from both U.S. and Canadian based institutional investors.
• After a competitive bidding process, a Canadian REIT was selected as the ultimate buyer for the 10-property portfoli
• The transaction resulted in proceeds of $70 million US
• The sale/leaseback transaction created an additional $35 million in net proceeds to TriWest Capital’s exit of RTL WestCan