Selected Case Studies

Terra Footwear Limited, an internationally recognized manufacturer of branded industrial safety footwear, was acquired by Kodiak Group Holdings, Inc., Canada's leading supplier of branded industrial footwear and outerwear.

Crosbie acted as financial advisor to the shareholders of Terra, initiated the transaction and assisted in the negotiations.

The Transaction

Canadian branded safety footwear manufacturer Terra Footwear was acquired by Kodiak Group Holdings, a leading supplier of branded footwear and outerwear.

This highly synergistic transaction brought together Canada's two strongest brands in the safety footwear market and combined Terra's state-of-the-art domestic manufacturing capabilities and international distribution network with Kodiak's world class off-shore sourcing capabilities and successful apparel licensing program.

About the Company

Terra Footwear was a successful second generation family-owned business that evolved over the past 15 years from being a simple manufacturer of safety footwear into a market leading producer and distributor of branded safety footwear. Terra operates two facilities in Canada which are recognized for their use of advanced manufacturing technologies and producing safety footwear with unparalleled quality and attractive styling. Terra has also developed a successful, high growth international distribution strategy, with sales in over 20 countries worldwide.

Crosbie's Role

As investment banker to Terra's family shareholders, Crosbie managed the sale process and provided advice on all business matters relating to the transaction. Crosbie conducted a targeted worldwide search of strategic buyers in the footwear, apparel and safety workwear industries, generating significant interest from major players in North America, Europe and Asia. This process, conducted on a highly confidential basis, was designed to create a competitive environment that helped to maximize value for the Terra shareholders.