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The Deal

Bought By
Sheret Ross and Michael Levine
Year
2021
Vehicle
Spruce Grove Capital, backed by Maven Equity Partners, The Cambria Group, Red Forest Capital and Applied Equity
Kind
Software

Software and services for companies that reimburse employees who drive their own cars for work, out of Toronto. Bought from an owner looking to retire, with both searchers taking day-to-day operating roles.

What Happened Next

Recapitalized in 2023, with the searchers staying on as minority owners, and a chief executive from outside the search took the seat in 2024.

They recapitalized 2 years in, in 2023, without handing over the company.

The exit ends of journeys like this one, where the buyer has announced the purchase itself, are on Buyers.

Backed by the Same Firms

Vonzeo Capital

Aspect Investors

Endurance Search Partners

Maven Equity Partners

The Cambria Group

Red Forest Capital

Applied Equity

Method & Source

This record is double-sourced: it joined when the purchase and, where the company has traded on, the exit could both be read in primary accounts.