Having served together on the board of the local Chamber for a number of years, Otter Co-op CEO Jack Nicholson understood the way that Ashdown’s Brad Kiendl and his team operate. Jack entrusted Ashdown with the process of finding financing to support this transaction, as well as Otter Co-op’s continued growth thereafter.
Ashdown left no stone unturned, seeking and ultimately receiving financing offers from seven lenders. The way that the Ashdown team structured the deal was especially attractive to a local credit union that shared Otter Co-op’s community-minded values. Their offer was competitive on price and flexibility, and importantly, contained financial covenants that were structured to support continued growth. The deal proved to be the largest in the credit union’s history, making it a big win for the client, lender and community.
Given the quick movement of the transaction, a concentrated effort was made to expedite the financing process, and the deal escalated from Ashdown engagement to fully-funded within a swift, 16-week timeline. Otter Co-op is now in the process of integrating the new locations into their existing systems and infrastructure, and enjoys the distinction of being the largest private liquor retailer in BC.