Summit Electric has been acquired by Sabre

Skip to content
Skip to navigation

Services

See the whole picture and strategically move forward with the business advisors at Doane Grant Thornton. We’re focused on helping you thrive.

See Overview

Assurance

Team up with advisors who look beyond the audit itself to create value for your business and stakeholders.

See Overview

Financial reporting and accounting advisory services
You trust your external auditor to deliver not only a high-quality, independent audit of your financial statements but to provide a range of support, including assessing material risks, evaluating internal controls and raising awareness around new and amended accounting standards.
Accounting Standards for Private Enterprises
Get the clear financial picture you need with the accounting standards team at Doane Grant Thornton LLP. Our experts have extensive experience with private enterprises of all sizes in all industries, an in-depth knowledge of today’s accounting standards, and are directly involved in the standard-setting process.
International Financial Reporting Standards
Whether you are already using IFRS or considering a transition to this global framework, Doane Grant Thornton LLP’s accounting standards team is here to help.
Accounting Standards for Not-for-Profit Organizations
From small, community organizations to large, national charities, you can count on Doane Grant Thornton LLP’s accounting standards team for in-depth knowledge and trusted advice.
Public Sector Accounting Standards
Working for a public-sector organization comes with a unique set of requirements for accounting and financial reporting. Doane Grant Thornton LLP’s accounting standards team has the practical, public-sector experience and in-depth knowledge you need.

Tax

Let us provide you with the insightful and strategic advice needed to navigate the rapidly changing tax landscape.

See Overview

Tax planning and compliance
Whether you are a private or public organization, your goal is to manage the critical aspects of tax compliance, and achieve the most effective results. At Doane Grant Thornton, we focus on delivering relevant advice, and providing an integrated planning approach to help you fulfill compliance obligations.
Research and development and government incentives
Are you developing innovative processes or products, undertaking experimentation or solving technological problems? If so, you may qualify to claim SR&ED tax credits. This Canadian federal government initiative is designed to encourage and support innovation in Canada. Our R&D professionals are a highly-trained, diverse team of practitioners that are engineers, scientists and specialized accountants.
Indirect tax
Keeping track of changes and developments in GST/HST, Quebec sales tax and other provincial sales taxes across Canada, can be a full-time job. The consequences for failing to adequately manage your organization’s sales tax obligations can be significant - from assessments, to forgone recoveries and cash flow implications, to customer or reputational risk.
US corporate tax
The United States has a very complex and regulated tax environment, that may undergo significant changes. Cross-border tax issues could become even more challenging for Canadian businesses looking for growth and prosperity in the biggest economy in the world.
Cross-border personal tax
In an increasingly flexible world, moving across the border may be more viable for Canadians and Americans; however, relocating may also have complex tax implications.
International tax
While there is great opportunity for businesses looking to expand globally, organizations are under increasing tax scrutiny. Regardless of your company’s size and level of international involvement—whether you’re working abroad, investing, buying and selling, borrowing or manufacturing—doing business beyond Canada’s borders comes with its fair share of tax risks.
Transfer pricing
Transfer pricing is a complex area of corporate taxation that is concerned with the intra-group pricing of goods, services, intangibles, and financial instruments. Transfer pricing has become a critical governance issue for companies, tax authorities and policy makers, and represents a principal risk area for multinationals.
Succession & estate planning
Like many private business owners today, you’ve spent your career building and running your business successfully. Now you’re faced with deciding on a successor—a successor who may or may not want your direct involvement and share your vision.
Tax Reporting & Advisory
The financial and tax reporting obligations of public markets and global tax authorities take significant resources and investment to manage. This requires calculating global tax provision estimates under US GAAP, IFRS, and other frameworks, and reconciling this reporting with tax compliance obligations.

Related insights:

Tax alert T3 Schedule 15: Does your trust have additional reporting requirements?

In its last update on August 12, 2024, the Department of Finance (Finance) released draft legislation that proposes changes to these rules, which were originally enacted on December 15, 2022. It’s critical that you determine your trust’s reporting requirements each tax year as the non-compliance penalties are significant.

7 min read | 18 Nov 2024

Advisory

A differentiated approach relevant to the unique opportunities and challenges you are faced with today.

See Overview

Transactions
Our transactions group takes a client-centric, integrated approach, focused on helping you make and implement the best financial strategies. We offer meaningful, actionable and holistic advice to allow you to create value, manage risks and seize opportunities. It’s what we do best: help great organizations like yours grow and thrive.
Restructuring
We bring a wide range of services to both individuals and businesses – including shareholders, executives, directors, lenders, creditors and other advisors who are dealing with a corporation experiencing financial challenges.
Forensics
Market-driven expertise in investigation, dispute resolution and digital forensics
Consulting
Running a business is challenging and you need advice you can rely on at anytime you need it. Our team dives deep into your issues, looking holistically at your organization to understand your people, processes, and systems needs at the root of your pain points. The intersection of these three things is critical to develop the solutions you need today.
Creditor updates
Updates for creditors, limited partners, investors and shareholders.

Related insights:

Tax Alert Flipping a house? Your gain could be fully taxable under this new rule

The federal government has released draft legislation for the new residential property flipping rule introduced in Budget 2022. Read more in our summary.

6 min read | 06 Nov 2024

Risk

Running an organization is an ongoing exercise in confronting risk, whether strategic, financial, operational, regulatory or technological.

See Overview

Governance, risk and compliance
Effective, risk management—including governance and regulatory compliance—can lead to tangible, long-term business improvements. And be a source of significant competitive advantage.
Internal audit
Organizations thrive when they are constantly innovating, improving or creating new services and products and envisioning new markets and growth opportunities.
Certification – SOX
The corporate governance landscape is challenging at the best of times for public companies and their subsidiaries in Canada, the United States and around the world.
Third party assurance
Naturally, clients and stakeholders want reassurance that there are appropriate controls and safeguards over the data and processes being used to service their business. It’s critical.

Cloud Accounting

By automating standard administrative and accounting work, cloud accounting with Doane Grant Thornton can free up your time to concentrate on more important...

See Overview

Indigenous Services

Legacy is not only about honouring the past—it’s also about looking forward and continuing to build upon those values, traditions, and achievements to create...

See Overview

Environmental, social, and governance (ESG) and sustainability

Our team is made up of multi-disciplinary, dedicated advisors that can assist your business with a range of ESG considerations, including strategy development,...

See Overview

Family Business Services

Our experienced Family Enterprise Advisors (FEAs) can help establish harmony among all stakeholders in your family business by maintaining a neutral position...

See Overview

Industries

Agriculture

Farming is a lifestyle and a legacy. It’s the heartbeat of your family and the backbone of our communities. Success grows from hard work, patience and...

See Overview

Related insights:

ASPE Sec. 3041 Agriculture Understanding and applying the new ASPE Section 3041 Agriculture
The Canadian Accounting Standards Board (AcSB) has released new guidance on recognizing, measuring and disclosing biological assets and the harvested products of bio assets.

16 Feb 2022
Tax alert Agricultural Clean Technology Program
The Agricultural Clean Technology Program will provide financial assistance to farmers and agri-businesses to help them reduce greenhouse gas (GHG) emissions.

17 Jun 2021
Tax alert ACT Program – Research and Innovation Stream explained
The ACT Research and Innovation Stream provides financial support to organizations engaged in pre-market innovation.

17 Jun 2021
Tax alert ACT Program – Adoption Stream explained
The ACT Adoption Stream provides non-repayable funding to help farmers and agri-business with the purchase and installation of clean technologies.

17 Jun 2021

Cannabis

Whatever your goal, the experts at Grant Thornton are ready to work with you to map out a plan for success. As members of the Global Cannabis Partnership...

See Overview

Charities & not-for-profit

Here’s to the change-makers, the believers and the community-builders. Charities and not-for-profit organizations truly stand apart from the crowd. In today’s...

See Overview

Real Estate And Construction

In the world of real estate and construction, timing is everything. From acquisition to exit—and every point in between—you need high-quality information and...

See Overview

Builders And Developers
Every real estate project starts with a vision. We help builders and developers solidify that vision, transform it into reality, and create value.
Rental Property Owners And Occupiers
In today’s economic climate, it’s more important than ever to have a strong advisory partner on your side.
Real Estate Service Providers
Your company plays a key role in the success of landlords, investors and owners, but who is doing the same for you?

Related insights:

Real estate and construction 2024 Real estate market summary: seeking optimism in uncertainty

Looking back, the theme for 2023 in the real estate industry was one of caution as investors and real estate owners braced for the effects of rising interest and inflation rates to stabilize.

1 min read | 08 Mar 2024

Energy and natural resources

It’s not business as usual within the energy and natural resources sectors. Change has become constant and disruptive, in part a result of consolidation and...

See Overview

Mining
There’s no business quite like mining. It’s volatile, risky and complex – but the potential pay-off is huge. You’re not afraid of a challenge: the key is finding the right balance between risk and reward. Whether you’re a junior prospector, a senior producer, or somewhere in between, we’ll work with you to explore, discover and extract value at every stage of the mining process.
Oil & gas
The oil and gas industry is facing many complex challenges, beyond the price of oil. These include environmental issues, access to markets, growing competition from alternative energy sources and international markets, and a rapidly changing regulatory landscape, to name but a few.

Financial Services

See Overview

Manufacturing & distribution

Canadian manufacturers seeking to grow their businesses must address common issues, including limited access to finance, high raw material costs, inflexible...

See Overview

Private equity

To acquire high-quality assets in today’s unprecedented competitive global market, private equity firms and their portfolio companies must be increasingly...

See Overview

Professional services

Professional services firms face a dual challenge: anticipating and managing change not only for your clients, but also for your business. In today’s...

See Overview

Public companies

See Overview

Private business

Your hard work has taken your business where it is today. Having a clear vision, a strong team and a solid plan are all key to your continued success....

See Overview

Public sector

See Overview

Power & Utilities

At Grant Thornton, we have the real-world experience and knowledge that can help you in considering all of your strategic alternatives. Whether it be managing...

See Overview

About the client

As a leading industrial electrical contracting company, B.C.-based Summit Electric has been serving clients for almost 20 years across the mining, forestry, and oil and gas sectors.

After being approached by several potential buyers, the shareholders decided the time was right to sell but they didn’t want to go through the sales process alone—and without business advice they could trust. They wanted to prioritize looking after their financial interests, existing employees, and legacy.

Our team was engaged to advise on the sales process. We initially drafted the pricing analysis, then later facilitated conversations with Summit Electric shareholders as they negotiated deal terms and advised them as they navigated complex legal processes. In addition, we provided accounting, tax, and due diligence assistance.

The transaction was ultimately completed with shareholders at Summit Electric and Sabre both achieving their goals. Summit Electric is now set to continue under new ownership, providing the same high standards of safety, workmanship, and performance.

Fast facts

Client

Summit Electric

Transaction type

Divestiture

Services provided

M&A

Sector

Power and Utilities

Close date

February, 2022

The client experience

"The Grant Thornton team was excellent to work with, providing reliable advice and quick responses to our questions. There’s a lot more to selling your business than finding a buyer—as we discovered—so having knowledgeable M&A advisors who’ve led transactions of this nature before helped us smoothly navigate the process. We’re excited to see Summit Electric continue under the new owners at Sabre!"

Trevor Streek, Vice President of Operations/Owner
Summit Electric