Having spent decades developing a strong team and reputation in Langley BC, Foreman’s Integra Tire Auto Centre was ready to expand its business through the acquisition of a retiring competitor’s business in Surrey. They approached their incumbent lender to obtain the financing required to complete the purchase but were met with an inadequate financing proposal.

Ashdown’s Josh Richardson came aboard to assess the business’ needs and determine how best to achieve the financing package required for growth. Josh went to market, approaching lenders he though would offer competitive terms for the acquisition loan, and replace existing facilities.

Josh sourced a strong offer from a new lender, including the required acquisition loan and a line of credit for the Surrey location, as well as a line of credit to replace their existing Langley location facility at a better rate. The total amount of term debt and revolving facilities secured exceeds the total initially requested, providing flexibility for day-to-day operations at both locations.

Foreman’s Integra Tire Auto is primed to offer top-tier service in both Langley and Surrey, with financing to support growth in both locations.

“Having Josh take care of this step of the purchase made my life much easier. I could concentrate on my current running business, as well as confidently negotiate the purchase of my second location. The savings of time and energy on my part for this step had incredible value to me and Josh delivered exactly what I needed, and more!” – Peter Foreman, Owner

• Term Loan
• Line of Credit