Victoria-based Totem Towing has been acquired by Reliable Fleet Services

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About the client

Founded in 1973, Totem Towing has grown from a service-provider with one tow truck to a fleet of over 30 tow trucks and trailers to meet the needs of the local Victoria area.

After more than five decades successfully running Totem Towing, the owner felt it was time to retire. But he wanted to walk away from the business feeling confident it would be left in safe hands, and that existing employees would continue to be treated well.

Our M&A team came on board at the start to help the owner with his succession planning goals. They assisted with each stage of the sales process—from taking the business to market and finding the right buyer who could offer a fair price, to due diligence and tax services.

Speed was important for this deal, as the owner was looking to retire as soon as possible. Having a team of experienced advisors on-hand to manage some of the complexities helped the owner with reaching his goals more efficiently than doing it alone. Reliable Fleet Services soon became the new owner of Totem Towing, and the business will now continue with same team of employees providing the same trusted service for customers.

Fast facts

Client

Totem Towing

Transaction type

Divestiture

Services provided

M&A

Sector

Towing

Close date

December, 2024

The client experience

"Working with the M&A team helped me feel confident with my decisions throughout the sales process from start to finish. The advisors were responsive to any questions and helped the deal close efficiently—we couldn’t be happier with the outcome and would be happy to work with the team again!"

Totem Towing