Orca helped us make the case for our value and kept the complex process moving right to the end. The outcome, both in price and terms, exceeds our expectations.
–Bob Davis Former CEO, TraneOregon

TraneOregon

Orca representation provided the way to optimize price and terms with a multibillion, global single suitor.

Orca Capital advised the sale of Portland, OR based TraneOregon to Trane US, a subsidiary of Ingersoll Rand, a $13 billion global company. TraneOregon is the premier company in the region’s commercial heating, ventilating, and air conditioning HVAC industry.

Thought Ahead

Bob Davis, chief executive of TraneOregon for 33 years, had informally consulted Orca for four years before the transaction. Though the contractual terms of his relationship with IR required a single buyer transaction, Bob knew the value of being prepared.

Taking the Story to Senior Management

Orca counseled that when working with a very large acquirer, it is vital to create a package that lays the basis for value, and to anticipate buyer factual needs. We wrote an Information Memorandum which articulated TraneOregon’s strengths and value, and made the multilayer corporate communication process move ahead consistently. Orca set up the comprehensive virtual data room in anticipation of buyer due diligence, which assured that questions were answered.

The Deal

With Orca’s packaging guidance and representation in the negotiations, Bob Davis was able to sell his company with both price and terms that exceeded his expectations. His management team was able to sustain the high performance of the company without undue distraction during the transaction.

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