Book a Call

Academy/ Financial Services/Guides

Case Files

Longer, step-by-step walkthroughs you can work from.

A basket that swallowed every claim the buyer had — Treadstone Academy

A bolt-on that broke the platform's service model — Treadstone Academy

A courier operation with owner-operator drivers — Treadstone Academy

A CRA audit opened three weeks before closing — Treadstone Academy

A CSBFP application that failed on eligibility — Treadstone Academy

A data room leak that reached a competitor — Treadstone Academy

A dental practice sold with the associate leaving — Treadstone Academy

A disclosure schedule filed the night before signing — Treadstone Academy

A farm operation with quota attached to it — Treadstone Academy

A foreign buyer facing a national security review — Treadstone Academy

A franchisor who refused to approve the buyer — Treadstone Academy

A freeze done ten years too late — Treadstone Academy

A grocery store with unrecorded cash sales — Treadstone Academy

A landlord who wanted a new personal covenant — Treadstone Academy

A licence held personally, not by the company — Treadstone Academy

A machine shop whose largest press was leased — Treadstone Academy

A material adverse change claim that failed — Treadstone Academy

A minority holder who blocked the sale — Treadstone Academy

A minute book that stopped in 2009 — Treadstone Academy

A non-compete unenforceable across two provinces — Treadstone Academy

A personal guarantee the buyer's spouse refused — Treadstone Academy

A process run to one buyer instead of eight — Treadstone Academy

A receivable ledger propped up by one debtor — Treadstone Academy

A resale priced without the renovation obligation — Treadstone Academy

A restaurant with a liquor licence in the vendor's name — Treadstone Academy

A retrade three days before the closing date — Treadstone Academy

A sale to the founder’s own holding company — Treadstone Academy

A seller note the bank refused to postpone — Treadstone Academy

A share deal converted to an asset deal late — Treadstone Academy

A shared purchasing programme across three sites — Treadstone Academy

A shotgun clause triggered on a Friday afternoon — Treadstone Academy

A software business with month-to-month subscribers — Treadstone Academy

A staffing firm whose margin sat in one contract — Treadstone Academy

A stalking horse bid that was topped at auction — Treadstone Academy

A supplier agreement with an exclusivity trap — Treadstone Academy

A teaser that gave away the vendor’s identity — Treadstone Academy

A trade mark registered to the founder personally — Treadstone Academy

A transaction that crossed the notification threshold — Treadstone Academy

A trust structure for a thirty-employee company — Treadstone Academy

A turnaround that needed a new lender in month four — Treadstone Academy

A union certification the vendor never mentioned — Treadstone Academy

A vendor take-back repaid early on a refinancing — Treadstone Academy

A vendor who kept giving instructions to staff — Treadstone Academy

A working capital peg set on the wrong month — Treadstone Academy

An earn-out measured on a metric the buyer controlled — Treadstone Academy

An equipment fleet older than the depreciation showed — Treadstone Academy

An escrow neither side could agree to release — Treadstone Academy

An HVAC business with unbilled service contracts — Treadstone Academy

An online retailer built on one advertising channel — Treadstone Academy

An oppression claim during a sale process — Treadstone Academy

An owner salary set at nil for five years — Treadstone Academy

An undischarged lien from a repaid equipment loan — Treadstone Academy

Buying the assets while the trustee held the keys — Treadstone Academy

Cash flow that turned negative in month two — Treadstone Academy

Cash swept out of the company the week before closing — Treadstone Academy

Contractors who were employees in all but name — Treadstone Academy

Customer contracts that all terminated on notice — Treadstone Academy

Deadlock between two equal owners — Treadstone Academy

Debt service that failed on a seasonal low month — Treadstone Academy

Disclosure delivered late in an Ontario resale — Treadstone Academy

Exclusivity granted for six months without milestones — Treadstone Academy

Financing conditional on a client contract renewal — Treadstone Academy

Goodwill allocation the vendor could not accept — Treadstone Academy

Inventory counted twice across two warehouses — Treadstone Academy

Long-service staff with no written contracts — Treadstone Academy

Managers with the skills but none of the capital — Treadstone Academy

One accounting policy across four companies — Treadstone Academy

Passive investments that blocked the exemption — Treadstone Academy

Personal vehicles running through the company — Treadstone Academy

Pricing that had not moved in seven years — Treadstone Academy

Revenue booked before the work was done — Treadstone Academy

Rollover equity that changed the seller's answer — Treadstone Academy

Shares issued but never actually paid for — Treadstone Academy

Shares that failed the holding period test — Treadstone Academy

Sixty per cent of revenue from one customer — Treadstone Academy

Software licensed to a person, not the business — Treadstone Academy

Source deductions two quarters in arrears — Treadstone Academy

Splitting proceeds across a spouse and a trust — Treadstone Academy

Splitting the operating company from the property — Treadstone Academy

The customer list that did not survive the handover — Treadstone Academy

The earn-out year the buyer changed the sales team — Treadstone Academy

The founder who was also the only estimator — Treadstone Academy

The lease with eleven months left on it — Treadstone Academy

The lender who required a bigger equity cheque — Treadstone Academy

The manager who wanted to leave in week three — Treadstone Academy

The owner who could not take a two-week holiday — Treadstone Academy

The rebate cheque that inflated gross margin — Treadstone Academy

The second-in-command who resigned at signing — Treadstone Academy

The successor who was not ready to run it — Treadstone Academy

Three add-ons in eighteen months, one brand — Treadstone Academy

Three years of statements, two sets of books — Treadstone Academy

Twelve months of preparation, thirty per cent more — Treadstone Academy

Two children in the business and one outside it — Treadstone Academy

Two operating companies, one shared workforce — Treadstone Academy

Two payroll systems and one pay run — Treadstone Academy

Two valuations four hundred thousand apart — Treadstone Academy

Unfiled GST returns found in the data room — Treadstone Academy

Vacation accrued and never paid out — Treadstone Academy

Walking away in week two on a single number — Treadstone Academy

Warranties that expired before the problem appeared — Treadstone Academy

The Canadian benchmark

What do businesses like this one actually sell for?

Nobody publishes Canadian transaction data, so every valuation in this country quotes an American benchmark. We are building the Canadian one — multiples, asking-to-sale spreads and days on market, by sector and by city. Leave an email and you will see it first.

No pitch, no listings. One email when the first report lands.