On October 13, 2020, Simply Green Home Services Inc. (“Simply Group”) completed its acquisition of SNAP Financial Group Inc. (“SNAP Financial Group”) through one of its affiliated corporations. The acquisition includes SNAP Financial Group’s Canadian consumer financing division, SNAP Home Finance, which offers loans to homeowners, through an extensive dealer network, to acquire HVAC equipment and fund home improvement projects. The transaction, with an enterprise value of $511 million, includes $412 million of consumer loan assets, and represents a cash equity investment of $73.5 million.
Simply Group provides industry leading, high-efficiency, home comfort equipment and financing solutions to customers, to modernize their residential, commercial and industrial properties, and currently has more than $1.25 billion in assets under management.
Miller Thomson advised Simply Group in the transaction with a team comprised of James Rumball, Mack Hosseinian, Eric Kleine, John Ferber, Adam Bata, Luigi Valente, Paul Nicholas Dimerin, Desmond Christy, Brandon Meyer and Vita Dos Santos (Corporate/M&A); Amanda Plastina and Ethan Campbell (Financial Services); David Tsai (Labour & Employment); Karen Durell (IP); Eric Dufour and Reema Mahbubani (Competition); Manjit Singh and Josiah Davis (Tax); and Linda Spina, Rebecca Asrula, Martha Tovar and Emily Hartnett (Clerk).
