Guide To Business Valuations

GUIDE TO
BUSINESS
VALUATIONS
ESSENTIAL STEPS TO
VALUING YOUR BUSINESS
DIVESTITURE » SUCCESSION » EXIT PLANNING » SELL
1.888.859.5388 | www.pavilionservices.com

Why do you need a Pavilion Business Valuation?
A current business valuation should be a high priority for your business. It is necessary to establish the share price for
business transactions such as sales, buy/sell agreement, mergers or acquisitions, dissolutions including liquidation or
bankruptcy, estate planning or raising capital.
We specialize in Business Valuations that are based on the “current true market value” and based on over 21 different
valuation methodologies. Pavilion offers the most comprehensive and accurate means to complete the task to assess
your business “fair market value”.
Pavilion offers a comprehensive approach to the Business Valuation process. We employ numerous valuation
methodologies as outlined in this Guide. In addition, we utilize real time access to the following resources:
• Precedent database of completed transactions across North America.
• Real time access to the financial performance in each SIC or Industry sector to enable an independent “yard stick”
for key performance indicators (KPI’s).
• RMA Ratio’s – The Risk Management Association provides a wide range of metrics that we use to assess your
business and provide a “score card” .
The true indicator of a company’s success is measurable by a wide range of factors. One of the main components is the
financial metrics of the business including the Profit and Loss statements and Balance Sheet performance. Our team
works closely with you to review and assess your business “value drivers” that ultimately determine the Enterprise Value.
If you are selling, raising equity capital, liquidating or settling with creditors or vendors, you will want a high valuation.
The opposite is true for those who are buying a company or doing estate planning or gifting. The valuation is useful not
only for transferring a business but as a tool to measure overall company performance. The final value depends on the
methods used and the purpose for which the analysis is performed.
In addition, because the Pavilion team provides Merger / Acquisition and Broker services, we will be able to provide you
with a truly independent assessment based on current real market conditions. Often we experience clients
who present us with a valuation completed by other firms that are in most cases undervaluing the business because
they don’t have the skill-set or access to relevant information. Choose wisely, as whatever decision you make can make a
significant difference to the financial outcome.
Yours sincerely,
Greg Spafford
Managing Director

Table of Contents
What is your Clients’ Business Worth? 3
What are the Benefits of a Business Valuation?
4
Business Valuation Methods
5
Fair Market Value
6
Determining Value
6
Business Valuation Methods
7
The Art and Science of Valuations
7
Can Two Simple Questions Determine the Valuation of your Company
8
What are Six Things you can do to Make Your Business Harder to Replicate?
9
Know the Truth or Face the Consequences
10
What Data is Required for a Professional Business Valuation?
11
10 Benefits of a Professional Business Valuation
12
10 Value Drivers to Sell Your Business for the Highest Price
13
Pavilion Factsheet
14
Contact Pavilion Business Services
To learn more about the various exit options you have as a business
owner and how we can help you successfully sell your company –
call us to arrange an exploratory meeting and discuss your options
in a confidential manner.
1.888.859.5388
www.pavilionservices.com
2

WHAT IS YOUR BUSINESS WORTH?
The Business Valuation
Buyers have deep pockets and are motivated. Now Value
the Business.
There will always be the buyers price, your price and the fair
price. Knowing the fair value provides gut-level comfort and a
huge advantage in this chaotic world.
Some say a company is worth exactly what another person
is willing to pay...or is it? How about the value of the assets?
Or earnings and income? Is it the potential of the business?
Or goodwill? Is it all or some of it? How do you arrive at that
magic number fairly? More importantly, who can provide that
assessment? An accountant? A lawyer? Your neighbour who
sold his business? How can you be certain?
Pavilion Business Services specialize in professional Business
Valuations that are based on the “current true market value”
and based on over 21 different valuation methodologies.
Pavilion offers the most comprehensive and accurate means
to complete the task to assess the business “fair market
value”.
In addition, we utilize real time access to the following
resources:
4 Precedent database of completed transactions across
North America that provide evidence to support the
valuation.
4 Real time access to the financial performance in each SIC
or Industry sector to enable an independent “yard stick”
for key performance indicators (KPI’s).
Key Benefits of a Professional
Business Valuation
4
RMA Ratio’s – The Risk Management Association
provides a wide range of metrics that we use to assess
the business and provide a “score card”.
It is important to get a professional business valuation by a
merger and acquisitions firm who are actively involved in the
marketplace. Based on our experience, valuations conducted by
others grossly over-estimate or under-estimate the value of the
business.
Pavilion is a professional M&A (merger and
acquisitions) firm with the track record
and expertise to not only put the “deal
together”. Moreover, they will have the
industry connections and marketing “know
– how” to enable a satisfactory outcome
with highest sale value and improved terms
for the seller.
The true indicator of a company’s success is measurable by
a wide range of factors. One of the main components is the
financial metrics of the business including the Profit and Loss
statements and Balance Sheet performance.
4
Today, up to 80% of a firm’s value can be associated with
intangible assets, such as brand, reputation, culture,
customer satisfaction, human capital, risk management,
R&D pipelines and a company’s trading license to operate.
Our team works closely with you to assess the business
“value drivers” that ultimately determine the Enterprise Value
in the marketplace.
It takes a team to put a successful deal together: an
accounting firm, M&A advisors and a lawyer are all
essential elements to achieve a profitable deal.
3

WHAT ARE THE BENEFITS OF
A BUSINESS VALUATION?
Business Valuation Methods
There are multiple methods when valuing a business that
include valuing various components of your business,
including good will, tangible and non-tangible assets, and
management knowledge and commitment. A Business
Valuation is a valuable tool.
If your valuation doesn’t consider all factors or if it uses
inappropriate valuation methods, your business will be
significantly undervalued.
A business valuation should suit the needs of the directors
and shareholder requirements. This is especially important
in determining the true enterprise value. Many well meaning
accounting firms provide advice that simply is incorrect and
usually leads to an under-estimation of the business value.
The standard practice by accountant is to rely on EBITA
multipliers and these assumptions are simply incorrect. In
the following pages, more details are provided to enlighten
business owners on the options and considerations involved
in the process.
In many instances, business owners select the wrong firm
to conduct their business valuation. Often accounting
firms attempt this task and the result is an incorrect lower
valuation than the business is actually worth on the open
market.
Accountants perform valuable services for their clients
including bookkeeping, tax advice and year end submissions
to the CRA. This does not qualify them for the task of
determining “fair market value” for your business.
4

BUSINESS VALUATION
METHODS
We offer market valuations to clients who are interested in
determining the fair market value of their business. While
there are a number of methodologies and techniques, they
can typically be categorized into three core approaches:
1. Asset based,
2. Income based,
3. Market Comparison based.
When we conduct business valuations, a blended model
is used based upon the appraiser’s judgment, assets in
question, past and future cash flow capacities, as well as the
depth and breadth of available financial, operational, and
industry relevant data. All applicable methods used are then
presented within the valuation package.
ASSET BASED APPROACHES – The asset, or
cost, approach considers the value of a business
to be equivalent to the sum of its parts; or the
replacement costs for this business. This is an
objective view of a business. It can be effective
in quantifying the fair market value of an entity’s
tangible assets, as it adjusts for the replacement
costs of existing, potentially deteriorating, assets.
INCOME BASED APPROACHES – The income
approach identifies the fair market value of a
business by measuring the current value of
projected future cash flows generated by the
business in question. It is derived by multiplying
cash flow of the company times an appropriate
discount rate. In contrast, the asset based
approaches are very objective. The income based
approaches require the valuator to make subjective
decisions about discount rates or capitalization.
Many considerations and variables are measured
to account for the specific contribution of primary
value drivers in a business that result in influencing
cash flow: revenue drivers, expense drivers,
capital investment, etc. This method, which comes
in several approaches, is useful as it identifies
fundamental factors driving the value of a business.
MARKET COMPARISON BASED APPROACHES –
The Market Comparison approach to a business
valuation is based upon current conditions
amongst active business buyers, recent buy-sell
transactions, and other fairly comparable business
entities. Financial attributes of these comparable
companies and the prices at which they have
transferred can server as strong indicators of fair
market value of the subject company.
5

When a client engages our expertise to conduct a fair market
business valuation, we view that business through numerous
various approaches (all of which fall under the three
primary methods) and then determine which of those are
most applicable to that business and its type of operation,
industry, history and future prospects.
Many business owners think that a buyer should pay them
the money they invested in the business, no matter what the
business is generating in income and profits. Unfortunately,
that’s also not the case.
If you’re selling, knowing the value of your business will give
you the confidence to ask for a fair price.
Having an independent, up-to-date business valuation also
allows you to identify areas of growth and make informed
decisions about the future of your business.
A calculation of value is NOT an appraisal because the
appraiser is not coming to a “conclusion of value”, but
merely a “calculation of value” based on a limited amount of
investigation and due diligence.
“Protect yourself from
costly mistakes and
blunders”
Business Valuations are used for
4 Strategic business planning
4 Securing credit
4 Negotiating a business purchase
4 Partnership dissolution
Fair Market Value
Probable price at which a willing buyer will buy from a
willing seller when:
(1) both are unrelated,
(2) know the relevant facts,
(3) neither is under any compulsion to buy or sell,
(4) all rights and benefit inherent in (or attributable to) the
item must have been included in the transfer.
FMV is generally the basis for tax assessment and court
awards. Also called Fair Market Value.
Asking Price Vs. Selling Price
If the asking price is too high buyers may hesitate to even
make an offer for the business. A high asking price may
place the business outside the maximum price level of
buyers looking for similar businesses, and those looking in
that higher price range may see that the business does not
warrant such a high price.
The important factor to understand is that there isn’t one
magic number that your company is worth. There is a variety
of valuation methods used to determine the monetary
assessment of a company. Each of these methods will
provide a different figure and ultimately, the value of the
company is what someone is willing to pay for it.
Real World Criteria
The value of a business is usually a function of its earnings,
not its tangible assets. Depending upon the nature of the
tangible assets, it is true that a buyer might be willing to pay
more for a business with a lot of assets based on the idea
that if all goes badly, the buyer can at least sell off the assets
and recover some of the investment.
4 Planning an exit strategy
4 Settling legal disputes
4 Marital dissolution
4 Estate planning
4 Management buy-out
4 Raising working capital
If you’re selling, knowing the true fair
market value of your business will
give you the confidence to establish
and defend your asking price.
6

Determining Value
Determining the value of a business is both an art and
a science, it’s a complex and painstaking process. Many
factors have to be considered in valuing a business, such as
future earnings potential, asset analysis, and environmental
influences related to economic and industry conditions.
To reflect the years of hard work in accumulating a business’s
tangible and intangible assets, a business owner must use
much more than tax returns and financial statements as the
basis for the financial presentation of their business.
Business Valuation Methods
We are often asked by business owners to provide them with
an idea of what their companies are worth. In our industry,
this is called “ballparking,” and we refuse to do it because
no one can tell you what your business is worth without
conducting a thorough and complete evaluation.
A related question that we also often hear is: What formula
will you use when valuing my company? Again, at the
outset, we can’t tell you that because we can’t make any
assumptions about which methods will be best to use until
we have done a business valuation on your company.
Anyone who tells you in your first meeting with them that
they either know your value or can tell you which formula
they will use in valuing your business should be avoided. It is
impossible to define that until the evaluation is complete.
The Bare Facts...
No formula can be devised that will be generally applicable
to the multitude of different valuation issues.
A sound valuation will be based upon all the relevant facts,
but the elements of common sense, informed judgment
and reasonableness must enter into the process of weighing
those facts and determining their aggregate significance.
In layman’s terms, this means that the valuation of a privately
held company is ultimately very complicated because
you have to take into account a wide variety of valuation
methods in order to accurately determine value.
The factors that must be examined when valuing a
privately held company are:
A
B
C
D
E
The nature of the business and the history of the
enterprise from its inception
The economic outlook in general and the condition
and outlook of the specific industry in particular
The book value of the stock and the financial
condition of the business
The earning capacity of the company
The dividend-paying capacity
F
G
H
Whether or not the enterprise has goodwill or other
intangible value
Sales of the stock and the size of the block of stock
to be valued
Key assets of the company including: inventory,
equipment, real estate, patents, contracts, etc.
7

The Art and Science of Valuations
As you can see, no one can tell you either what formula they
will use to evaluate your company or what your business is
worth in their initial meeting with you. If they do, chances are
good that they are using the same valuation method on your
business that they use on every company that they work
with. Often these are industry-developed rules of thumb and
not relevant or an accurate reflection of enterprise value.
Sometimes rules-of-thumb can be accurate predictors of
value. However, the danger in using this method alone is that
it does not take into account anything that may be unique
about your company.
Using rules-of-thumb assumes that your business is exactly
like every other company in your niche. In all likelihood, you
have built a business that has specific distinctive features
that could be key to your valuation.
Nor is the rule-of-thumb value based on recast financial
statements. Recasting is an accepted accounting practice
that allows you to restate your historical financials to reflect
your true profitability.
Suffice to say, if you use a rule-of-thumb to define your
value without recasting your financials, you will probably be
undervaluing your company. This is just one of the common
mistakes that many business owners make when selling their
company.
CAN TWO SIMPLE
QUESTIONS DETERMINE
THE VALUE OF YOUR
COMPANY?
As a business owner you should be really concerned about
the value of your company; because your company is
probably the most valuable asset you own.
If your company is your biggest asset, you should want
to grow it so it becomes even more valuable, with the
eventual goal of building the asset to such a value that larger
companies want to purchase it for a large sum, or you can
take it public.
While there are all types of questions and complex analyses
that can be done to try to pinpoint the value of your
business, your value can really be condensed into just two
questions:
1. How hard would your business be to replicate?
2. Would anyone want to replicate your business?
With regards to the first question, how hard would your
business be to replicate, if your business is easy to replicate, it
doesn’t have much value. Because - if others haven’t already
replicated it, at some point they will. And doing so will
dramatically reduce any profit margins you have.
8

WHAT ARE SIX THINGS YOU
CAN DO TO MAKE YOUR
BUSINESS HARDER TO
REPLICATE?
PRODUCTS AND/OR SERVICES – Can you enhance
your products and/or services so they have more
advantages over competitors? And can you develop
intellectual property to protect these advantages?
(i.e. Patents, Trademarks)
HUMAN RESOURCES – Can you improve the
quality of your management team and employees
through better hiring, training and corporate
culture? Can you build an advisory board that gives
you competitive advantage? Do you have complete
HR packages, procedures, job descriptions,
contracts, etc.?
MARKETING – Can you develop unique marketing
skill sets (e.g., salesmanship, online marketing)
that give you a competitive advantage in your
market? Can you forge exclusive partnerships, or
gain a unique spokesperson that allows you to reap
greater revenues and profits?
LOCATION – Can you secure a physical location or
website address that’s proprietary and gives you a
unique ability to succeed?
OPERATIONAL SYSTEMS – Can you build
operational systems that allow you to outperform
competitors? (i.e. ERP, CRM, automation, etc.)
CUSTOMERS – Do you have or can you build
unique customer retention strategies that influence
customers to continue to buy from you and ignore
your competitors?
9

Know the truth or face the
consequences
THE SECOND QUESTION
The second question that determines your value is whether
anyone would want to replicate your business. While you
might have great products, a uniquely skilled workforce and
exclusive marketing partnerships, if your income statements
and balance sheets are weak, then your value is limited.
Being able to show strong revenue and profits, and
continuous growth, adds tremendous value to your
company.
Now that you know the keys to building value, you need
to go build it. Unfortunately this is easier said than done.
The problem is this – most business owners focus on what’s
easiest and/or right in front of them. As a result, much of
their time is spent solving daily problems and getting new
sales to try to hit their monthly numbers.
Business owners need to better plan out their weeks,
months and years. In these plans, they need to devote time
to building those assets that make their businesses harder
to replicate and more valuable, such as building systems
to make the company run smoother, better training of
employees, or forging marketing partnerships. Most of these
business assets cost time and money to build, and bring in
little value in the short-term. But in the longer-term, they
allow your business to flourish.
You need a valuation of your business, so that you know
what it might sell for and what estimates of the taxes
payable. Business owners tend to overstate the value of their
businesses and are disappointed when they finally do their
exit / succession work and find out their company is worth
less than they thought and end up with a tax bill they didn’t
expect.
Most strategic and investment buyers have in-house
business evaluators to ascertain the fair market value of
your business, so completing a valuation in advance of the
negotiation process provides a key advantage for the seller.
Why Do You Need a Business
Valuation?
Pavilion summary reports are usually between 30 and 50
pages and are typically used for the following purposes:
BUSINESS SALE OR PURCHASE – Our Value Report is ideal
for the business seller or buyer. Suitable for lower to middle
market businesses with typical revenues from $1M up to
$500M. Our in-depth methodology exploits all of the key
drivers of value.
PARTNER BUY/SELL AGREEMENT – Our Value Conclusion
Report forms the basis for the Partner Buyout, which satisfies
most Buy/Sell Agreements.
PARTNERSHIP DISSOLUTION – Our Value Conclusion
Report or Calculation Report forms the basis for separating
business assets.
MARITAL DISSOLUTION AND SEPERATION OF BUSINESS
ASSETS – Our Value Conclusion Report or Calculation Report
forms the basis for the separation.
ESTATE, GIFT OR TAX MATTERS – Our Value Conclusion
Report forms the basis for the underlying agreement.
To succeed in business, you need to think longer term. And
each day you must continue to add value to your business.
In doing so, your business will not only become the greatest
asset you own, but an asset that larger, deep-pocketed
companies desperately want to buy.
10

WHAT DATA IS REQUIRED FOR
A PROFESSIONAL BUSINESS
VALUATION?
Valuation Information Checklist
Financial Information
4 Five years of financial statements prepared by
company’s accountant (including “notations”) i.e.
Profit and Loss statements and Balance sheet
4 Interim financial statements for current year
4 Three years of Accounts Receivable and Accounts
Payable listing and ageing
4 Five years of revenue concentration by customer
4 Fixed asset listing with estimated fair market value
4 Debt obligations including terms and conditions
4 Five years of financial forecast with model
assumptions
Corporate Information
4 Ownership shareholding details
4 Details of stock options plans or employee share
purchase plans
How We Work
The Pavilion business valuation methodology uses up to
20 valuation methods, including: Income approach, Market
approach, Cost approach, Custom methods, Deal structure
analysis, “What if” analysis, as well as numerous other
valuation methods and financial tools.
Business valuation is a complex task. If your valuation doesn’t
consider all factors or if it uses inappropriate valuation
methods, your business will be significantly undervalued.
Pavilion can provide an unbiased business valuation. Leave
your emotional baggage behind, be realistic and accept the
valuation for what it is - a snapshot in time.
Our in-house valuation specialists will work closely with you
to ensure your financials represent the true value of your
business.
If you want to discover the true marketplace value for
your enterprise, contact the specialists at Pavilion today at
1-888-859-5388 for a confidential discussion.
4 List of subsidiary or affiliate corporations and
holding companies
4 Three years of corporate income tax returns
11

EXIT OR SUCCESSION PLANNING – Provides a
basis for planning and assessing exit options.
10 BENEFITS OF A
PROFESSIONAL
BUSINESS VALUATION
Most business owners intuitively understand the importance
of knowing the value of one’s business. However, many
business owners do not know the current value of their
business, which can represent a significant portion of their
overall wealth.
Obtaining an independent, professional business valuation
is a critical step in wealth management and succession
planning. However, there are many other reasons to have
your business professionally valued.
It’s important to make sure the valuation is built on a firm
foundation that can withstand challenges. Finding the right
company to value a business can make all the difference in
obtaining an accurate and credible business valuation.
Pavilion Business Services’ broad and unique expertise and
experience results in the creation of very accurate, and
defensible business valuation reports.
Knowing the value of your business
is just good business. It is important
to get a professional business
valuation, since owners may grossly
overestimate or underestimate the
value of their business
WEALTH MANAGEMENT/ENHANCEMENT
– Identifies key value drivers and provides a
benchmark for measuring value enhancement.
PRE-SALE PLANNING – Buyers will only pay
top dollar for the most attractive businesses. A
valuation can help the business become more
liquid and more easily monetized.
SALE OF BUSINESS TO THIRD PARTY – Used as
a basis for negotiations with potential purchasers
(e.g. determine asking price, assess unsolicited
offer, etc.)
INTERNAL TRANSFER OF BUSINESS – Establishes
a price for a shareholder buy-out, management
buy-out or employee share ownership plan.
TAX AND ESTATE PLANNING – Provides support
for the value being transferred and acts as
insurance for potential disputes with CRA (e.g.
estate freezes, reorganizations, related party
transactions, etc.)
LIFE INSURANCE COVERAGE – Provides support
for amount of life insurance coverage to obtain (e.g.
key person, fund buy-sell agreement, fund taxes on
death, etc.)
SHAREHOLDER DISPUTES – Can help avoid
legal disputes over value (i.e. full disclosure to all
shareholders)
MATRIMONIAL SEPERATION – Provides support
for value of the business to be included in net
family property statement for the division of assets
TRUSTEE/EXECUTOR PROTECTION – Protection
against possible estate administration tax
reassessments
Since Pavilion also performs mergers & acquisitions services
and business exit planning, they possess expertise and
experience that most business valuation firms do not. This
allows Pavilion to create very accurate, defensible and low
cost business valuation reports.
12

DEVELOP A STRATEGIC PLAN – A formal plan
that presents measurable goals and milestones for
the coming years will give your business credibility
with long-term potential.
10 VALUE DRIVERS TO
SELL YOUR BUSINESS
FOR THE HIGHEST PRICE
Evaluate your company through the eyes of a buyer. Master
these 10 value drivers and sell at the higher range of the
multiples normally associated with your industry.
Selling a business is a challenge. Entrepreneurs need
to maximize value, tread carefully through a complex
transaction, and deal with the emotional stress of handing
over the business that they’ve nurtured over the years.
Letting go isn’t easy. Planning and preparation for the sale
transaction can take years, and entrepreneurs need to invest
the time to get it right.
SEEK ADVICE – you should work with an
experienced outside advisor. Ideally, a M&A
Specialist who can help you prepare your business
for sale, a task that includes having an expert
evaluation conducted. Selling your business is one
of the most important moments of your life. As an
entrepreneur, you need professional advice.
FOCUS ON PROFITS – This is a given for all
businesses, but it’s even truer when you are
planning to sell. Analyze your processes and look
for ways to increase efficiency, cut costs and control
inventory. Brush up your marketing plan and work
to create a diversified customer base that generates
recurring revenue.
CONTINUE TO INVEST AND IMPROVE – One of
the biggest mistakes business owners make is to
take their foot off the accelerator after deciding to
exit. When you start taking less care of the facilities
and process improvements or stop investing in new
technology or equipment, you are reducing the
future value of your company.
CREATE REPEATABLE PROCESSES – Your
business processes need to be repeatable and
teachable. If your business can’t function without
you, you will have a hard time finding a buyer. You
need to train, motivate and empower your team.
A strong, professional team adds value to the
business – especially those with few tangible assets.
STAND OUT FROM THE CROWD – In many ways,
selling your company is a marketing challenge.
That’s why it’s important to showcase to potential
buyers whatever differentiates your product or
service from the competition. Ask some long-term
clients for testimonials.
STRENGTHEN YOUR MANAGEMENT TEAM –
Hiring a solid management team is vital to your
succession plans. The single most important thing
an owner can do to reach the highest sale price is to
make it clear that the business is solid without the
current CEO and owner.
ENSURE CONTRACTS ARE IN WRITING – Having
agreements with customers and suppliers in writing
is an important task to provide assurance to buyers.
After the transition to new ownership, continuity
will not be jeopardized after the sale is complete. It
also helps to ensure the highest possible sale price
for the business.
PREPARE DETAILED FINANCIAL REPORTS –
Having up to date financial management accounts
is critical to the sale process. The management
accounts will come under intense scrutiny during
the sales process. It is also vital to understand the
company’s value drivers and the market values in
advance of the transaction.
ENSURE YOU HAVE DONE TAX PLANNING – It
is vital to prepare your personal tax planning for
shareholders to minimize the amount of tax paid
to the CRA in a legitimate manner. While there are
generous capital gains tax exemptions available,
additional measures are needed to keep as much of
the sale proceeds after the transaction is complete.
13

Pavilion Fact Sheet
Overview
Pavilion Business Services is an independent Merger &
Acquisitions (M&A) advisory firm operating and serving
Canada’s small to mid-cap market. Pavilion provides
specialized advice to management teams of publicly and
privately-owned businesses. Pavilion’s team of experts
are comprised of M&A Specialists, Business Consultants,
Succession Planners, Valuation Experts and Marketing
Specialists. Our team provides advisory
services in the areas of:
• Succession /
exit planning
• Mergers &
acquisitions
• Raising capital
• Business
valuations
• Corporate
restructuring
• Business growth strategies
Pavilion specializes in working with companies and
organizations with typically $2 million – $500 million in
annual revenue.
International Buyers
Pavilion’s extensive networking partners allow us to provide
business advice on an international scale with direct access
to buyers and investors in over 120 countries. We work with
professional equity, strategic buyers and investment firms
from USA, Europe, Middle East, China and Australia.
North America is increasingly being regarded as the
preferred location for business investments. Established
businesses with a solid cash flow are in huge demand from
buyers around the world.
Corporate Information
• Serving clients across Canada
• Attracting strategic and investment buyers across the
globe
• Financial analysis specialists
• Access to domestic, national and international
markets
• Skilled and experienced negotiators
Advantages of Working with a
Merger & Acquisitions Advisor
Pavilion has acted for many respected businesses to
structure, negotiate and execute significant corporate
financial transactions and has successfully completed
numerous transactions in the mid-cap market space.
The advantages of working with Pavilion include:
• Access to objective advice, professional insight and
judgment
• A strategic partner that keeps your best interests in
mind throughout the transaction
• Essential market intelligence both locally, nationally
and globally
• The ability to maximize transaction value based on
our experience and track record
• Access to pre-qualified investors/buyers
Philosophy
The Pavilion management team instinctively know that
great companies are built on the principle of doing the right
thing each and every day, and treating business partners,
customers, and employees honestly, fairly and with respect.
KNOWLEDGE » INTEGRITY » RESULTS
14

MISSION
Our mission is to deliver exemplary personal service
to enable our clients to achieve their goals.
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