Q1 Capital did a great job representing Wallace Wireless in our recent acquisition by Vocera Communications. Mike Middleton and his team were invaluable; they managed the M&A process and let us focus on running our business. Q1 was great to work with, but more importantly were able to maximize the value our shareholders received.
Mike was a pleasure to work with, helping keep my feet on the ground while also pushing the other party for maximum value. His communication and negotiation skills are among the strongest I’ve ever seen. Mike is also fair, honest, and direct and I would recommend him in a heartbeat.
Over the last decade, Mike Middleton and his team at Q1 Capital have been a key part of our capital strategy. From raising cash and debt to advising on acquisitions, Mike has been a trusted and committed advisor to us. I recommend Mike unequivocally and would hire him again in a heartbeat.
As an angel investor, I typically work with emerging tech companies. Mike Middleton and his team at Q1 Capital is my go-to advisor and agent when considering small market and mid-market M&A transactions. While keeping costs down and eliminating unnecessary work, Mike offers realistic and informed market assessments, personal intermediation, and direct, unvarnished, valuable advice and remains tenacious and loyal when deals take longer than predicted.
There isn’t anyone else working with entrepreneurs today with a comparable network plus real-world experience in tackling these issues.
We were contacted by Mike to consider the acquisition of Langley, BC-based Maddocks Systems by our Cleveland, Ohio investee company, TMW Systems. We found his company well prepared and the experience of working across the table from Mike as Maddock’s investment banker was excellent. During all phases of the transaction Mike worked to ensure a win/win outcome and facilitate a successful transaction. We continue to maintain a relationship with Mike and look forward to the possibility of working with him and his firm in the future.
Wmode has had a 16-year relationship with Mike, beginning at Fusion Capital where he sourced and negotiated a $4.5 million equity financing with Teleglobe. In November 2006, we again engaged Mike to raise an additional $6 million, which he successfully completed with Wellington Financial. In 2016, Wmode was in the process of going public by way of a reverse take- over when the Company received an unsolicited acquisition offer from AppDirect, a San Francisco-based technology company. Mike was engaged by our Board of Directors to provide a written report to our Board comparing the RTO option to the AppDirect offer on the basis of relative valuation, Terms and Conditions, Stakeholder benefits and challenges, comparable transactions and current market conditions. Our Board decided to pursue the AppDirect offer and engaged Q1 to provide a formal Fairness Opinion. Mike has played an integral role in our capital raising initiatives and is viewed by Wmode management as a trusted and valued professional who consistently strives to contribute to the success of our company.
Mike was engaged to prepare our company, identify and approach potential acquirers, and negotiate the sale. Mike worked closely with management to thoroughly prepare us for the process. He was a pleasure to work with and was an excellent strategic advisor in our discussions with potential acquirers. His hard work and advice ensured that we were well prepared for discussions and his negotiation skills ultimately resulted in a transaction that I was extremely happy with. I have absolutely no hesitation in recommending Mike to anyone looking for a professional to profitably sell their business. Maddocks was acquired by Cleveland-based TMW Systems, which was a portfolio company of Wachovia Capital Partners.
We’d built the company to sell it. But the first and most enticing interest in acquiring Clay Tablet caught us off guard – easily a year before we expected it. As I scrambled to prepare for that ever-so-crucial first meeting with the interested buyer, one name kept coming up: Mike Middleton. I knew enough to know that I didn’t know enough about this process. In my first call with Mike, it was clear that he knew everything. And that was the beginning of our incredibly successful transaction.
Mike’s support, wisdom, guidance, and, yes, admonishment when it was warranted (I am, after all, a headstrong, Type A CEO) ensured the deal stayed on the tracks despite the inevitable challenges and hiccups along the way. If you’re looking to sell your firm, and especially if it’s your first transaction, there’s no better way to ensure success than to have Mike and the team at Q1 on your side of the table.
Virtual Marine Technology is a St. John’s, Newfoundland-based technology company recognized as the world leader in the offshore Oil & Gas Health Safety and Environmental sector for its development and implementation of advanced simulation technologies to train rig employees in the safe launch, navigation, and recapture of lifeboats in hostile marine environments.
Our company engaged Q1 Capital Partners to help us raise equity to grow our business. We had just made sales to key reference customers and needed additional capital to finance our expansion into export markets.
Mike Middleton worked with me to prepare our company to go to the capital markets. This preparation included creating presentation documents, creating a Confidential Investment Memorandum, and structuring and directing preliminary due diligence and creation of a data room. Mike identified and contacted potential strategic investors in Canada and throughout the US, Germany, UK, Norway, and Scotland. As a result of Mike’s help, we were successful in meeting our goals and raised the largest single investment our company has received since its reception.
Mike has proven to be a great coach and mentor. He freely shared his wealth of experience with me and helped me to focus my efforts on the key items that ultimately lead to our success. I am also happy to say that our relationship evolved to a strong friendship based on trust and respect.
Mike Middleton and Q1 Capital will continue to be or ‘go-to’ investment bankers as we continue along our growth path.
Mike Middleton and his firm, Q1 Capital, were retained by the founding shareholders and management team of DSPA Software Inc. (“DSPA”) to spearhead the process of divestiture of the company. DSPA is a Toronto-based provider of compensation software to the insurance industry on an international basis. At the time of the divestiture, DSPA had approximately 80 staff and had seen its revenue grow by over 70% in the most recent fiscal year. The utilization of Mike allowed the management team to continue to focus on the business and not get caught up in the complex negotiations, which were being handled by Mike.
Mike, after reviewing the interest expressed by dozens of firms, brought four serious parties to the table in a competitive bidding process that resulted in a very favourable valuation and conditions of sale. The divestiture was completed in November 2007 with Mike arranging the acquisition of the company by a large US-based multinational. The compensation paid to Mike was small in comparison to his contribution to the increase in the overall value received by the shareholders. I would strongly encourage anyone contemplating a divestiture to use a professional and have no hesitation in recommending Mike for the role.