Tequity acted as the exclusive financial advisor to Idle Tools Corp., a full-service provider of Salesforce solutions headquartered in Raleigh, North Carolina, in their acquisition by Nubik Inc. This is Tequity’s sixth Salesforce partner transaction.
As someone whom had never had the experience of selling a company, Tequity guided me through the process and helped me understand what to expect and what to prepare. They facilitated meetings with the buyer and ensured we continued with positive momentum throughout the process. They helped make the experience a resounding success.”
Scott Thomas, CEO, Idle Tools Corp.
Nubik is a Montreal-based provider of cloud-based business solutions powered by Salesforce, and has been recognized as a Salesforce Platinum Partner for the quality of its consulting and implementation practices.
Under the agreement, Nubik and Idle Tools will merge their business operations to strengthen their offering in Digital Transformation to Manufacturers and Distributors, and High Tech and Professional Services organizations, as well as providing the company with strategic positioning on North America’s East Coast.
According to the terms of the agreement, Nubik will acquire Idle Tools’ assets, personnel, and customer contracts, and the merged organization will operate under the Nubik brand. The expanded business will serve over 800 organizations across the USA and Canada, with a total count of over 100 employees operating remotely on the continent.
The Nubik executive team is excited to welcome Idle Tools’ staff, their profound expertise in recommending and implementing Salesforce-based business solutions, and their hundreds of satisfied customers. Nubik has always been committed to the ongoing success of its customers and this merger confirms that the organization is serious in becoming a key player in the manufacturing landscape to better serve businesses undertaking the journey towards digital transformation.
“Our mutual expertise in Salesforce solutions for the manufacturing and distribution industry, coupled with our complementary footprint throughout the U.S. East Coast, was the driving force that led to this win-win partnership”, explained Katie Bussières, President of Nubik Inc. “However, a collaboration such as this one would not be possible without a strong cultural fit. During our discussions, it quickly became apparent that we share a commitment and a strong set of values towards our customers and employees.”
This transaction has obvious synergy. Over the years, Idle Tools has developed several intelligent business tools based on the Salesforce platform that bring added value for manufacturers. Paired now with Nubik’s business solution that encompasses Lead Acquisition to Contract Renewals, customers will thrive in their shift to becoming digitally-powered smart factories or organizations.
Katie Bussières added, “Tequity’s knowledge of the Salesforce ecosystem is outstanding. Because they understand the market they were able to help us quickly see the cultural fit and helped us a lot to align this merger strategically.”
“We are extremely thankful for the company we were able to build and very proud to become a part of the Nubik family”, said Scott Thomas, CEO of Idle Tools. “Becoming collectively stronger is the main driver in our decision to merge with Nubik. We both share a passion for building customer success on the Salesforce platform. We have been warmly welcomed and the positive Nubik culture established with their employees is already tangible and appealing for our people. We look forward to working together as a unified team.”
Nubik helps customers to streamline business operations for profitability and growth with leading the cloud technologies. The company enjoys an excellent track record amongst its North American customers and is a highly respected employer. In recent years, it has received important recognition in this regard. In June 2018, it was nominated “Best places to work in Canada”. In August 2016, Nubik was named the winner of the Montreal Young Chamber of Commerce award and Quebec Government for Best Work Life Balance. www.nubik.ca
Tequity provides exit, merger, and carve-out advisory services exclusively to mid-market Software, IT Services, and Information Technology companies across North America and around the globe. We assist CEOs and shareholders to find the right strategic buyer and achieve an optimal outcome in a transaction. As business operations and growth specialists who have built companies, raised capital, and successfully exited, we bring real world experience to any M&A discussion.
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