White Radio was a distributor of electonic and telecommunications components. Based in Burlington, White had an established business supplying the cable tv and telecom industries, as well as sound systems for auditoriums and similar facilities.

The owners of White Radio concluded that they wanted to achieve greater liquidity for their retirement and engaged Private Capital to assist with a series of considerations to achieve that end. Initially, the owners requested Private Capital to assist with merger discussions with a company in a complementary business. Private Capital worked with both companies, preparing a valuation report for each to provide a basis for discussions as to the ultimate ownership of the combined company. In the end, a failure by the two parties to reach agreement on relative valuations brought this initiative to a close.

Next, Private Capital prepared a full selling document for the Company and conducted a North American search for potential purchasers, both strategic and financial. Ultimately the interested parties were narrowed to three - two based in Canada and one in the U.S. After several rounds of negotiation, a letter of intent was signed with a public company located near Toronto.

During final negotiations, the current year results for White Radio began to deteriorate and the original offer price could no longer be supported. As an alternative, Private Capital worked with both buyer and seller to close the sale for a reduced price with the stipulation that if the targeted results for the current year were achieved the following year, then the original offer price would be paid in full. One year later, the target results were, in fact, achieved and the balance of the purchase price paid.