When Winnipeg’s ID Fusion wanted to purchase another business that would be a perfect fit with its growth strategy, the company needed help to make it happen.
The Aboriginal/Métis company creates innovative software and provides IT consulting services to Manitoba customers and national systems integrators. It also contributes to helping Aboriginal youth seeking careers in IT. The purchase would help it secure a large contract which would lead to further growth and opportunities.
While the company was eager to take this next step forward, it did not want to dilute ownership or reduce cash flow. The owners turned to BDC with whom they had a long-standing relationship.
Having provided previous loans to ID Fusion, BDC was ready to support the company based on its growth potential and strong leadership and vision. BDC paired up with a local Aboriginal financial institution to provide the financing needed to acquire the business. BDC’s flexible terms, including deferred capital payments and longer amortization periods, helped ID Fusion purchase the business, attract new clients and expand while protecting cash flow and ownership.
“As a direct result of the acquisition we were quickly able to land key contracts with a number of organizations,” says ID Fusion CEO Christian Dandeneau, who appreciates the sound advice and networking opportunities provided by BDC.
The company doubled consolidated revenues and staff over five years, and today, more than half of its 26 employees are Métis.