Already operating in Manitoba and Saskatchewan, Encore enlisted First West Capital to help secure financing to acquire Vancouver-based RSC Group (RSC) in 2013 to target the B.C. and Alberta marketplace, which essentially doubled the company. This enabled Encore to expand its reach into Western Canada and build value for existing clients through increasing the expertise of the existing team and product and service offerings.
Glen Vanderhaeghe, Encore CFO, made the initial contact with First West Capital vice president, Robert Napoli. “I was referred to Rob by an industry colleague – First West Capital came highly recommended,” says Vanderhaeghe,”Rob was the first person I contacted regarding the deal and immediately he built a rapport with us. He was instrumental in pushing the deal along and we were impressed when it came together so quickly.”
”Rob was the first person I contacted regarding the deal and immediately he built a rapport with us. He was instrumental in pushing the deal along and we were impressed when it came together so quickly.”
“We pride ourselves on providing service to our clients beyond their financial needs. We were able to provide Encore with support on how best address their unique financing challenges and create a customized solution that worked,” says Robert Napoli, vice president of First West Capital, “Encore is experiencing the outcome that we strive for – we are very pleased to see Encore’s success as a result of a well-executed merger. We look forward to watching this dynamic company grow.”
Reaping the benefits of becoming a larger, stronger company
Aside from achieving their objective of positioning Encore as an industry leader in Western Canada, the acquisition resulted in an unexpected, but very valuable, perk. “Recruitment of experienced consultants and salespeople is always a challenge for us. As a result of the acquisition of RSC we able to utilize the strength of the B.C. team, without the expense and time of hiring and training.
In addition, our reputation as a leader in the industry has considerably increased our ability to recruit top talent,” explains Natalie Armstrong, vice president of corporate communications, “Candidates are actively pursuing employment with us. It’s a nice surprise.”
To top off a stellar year Encore also achieved Microsoft Dynamics President’s Club for the 16th time and membership to Microsoft Dynamics Inner Circle, a worldwide recognition of the top 50 Microsoft dealers. “This was a great achievement and an important win for us, especially because we had missed out on receiving this award during the last few years,” says Armstrong, “It acknowledges our hard work as a team to maintain, and improve, our service level throughout the merger.”
The future is now
In March 2014, Encore added B.C. based Microsoft Dynamics and SYSPRO partner Candlewest Systems into its fold, reinforcing its continued strategy to be an industry leader. “We have applied what we learned during the merger with RSC Group, which has allowed us to be more efficient with integrating acquired companies into our business,” notes Armstrong, “Our goal is to leverage our resources in order to maintain a very high level of customer service and product offerings – it differentiates us in the market.”
The next steps for Encore include scouting out more opportunities to acquire within the industry. “We are always seeking new opportunities, and we want to facilitate conversations with business owners looking to align themselves with a reputable and growing business,” adds Armstrong.