Tell us about your firm and why you believe your deal was
selected for recognition?
For over 30 years, Crosbie’s business has been built around
helping clients successfully complete private company
transactions. While we are in a transactional business, we
take a consultative approach and often build relationships with
clients over many years before there is a transaction. This type of
approach works very well with complex situations and with family
businesses. Blue Mountain represents a good example of this.
We provided advice and worked with the Weider family a number
of times over a 10 year period before helping them sell their 50%
interest in Blue Mountain.
What were the benefits of the deal to the Dealer/Issuer and
The sale allowed the Weider family to crystalize the significant
value built over 60 years, and ensured that the legacy established
by Blue Mountain’s founder, Jozo Weider, would continue under
the strong stewardship of Intrawest. However, there were
challenges in getting to this outcome. Not only was Intrawest the
most logical buyer but it already owned 50% of Blue Mountain
which limited our negotiating leverage. Notwithstanding, we
helped our client achieve a great outcome with an excellent
valuation and good terms.
What was the broader impact of your deal? Has your deal
helped the economy or business sector in some way (e.g.
local, regional or national impact in jobs, investment,
This transaction is significant because it puts 100% of the
Blue Mountain business under a single strong owner. This will
provide some efficiencies within the business and should also
make it easier for Intrawest to justify making further investments.
Presumably, Intrawest’s relatively low cost of capital should
also help facilitate future investment. Accordingly, given
Blue Mountain’s status as an important, high profile regional
ski destination, this represents a long-term positive for the
Collingwood area as a strong source of employment and tourism.
Why do you think other firms should nominate their deals for
the PCMA Private Capital Deals of the Year Awards?
Given the vast number of private companies, firms like ours have
a very important role to play in the Canadian economy.
We arrange M&A transactions and access to capital for many of
these private businesses. However, it sometimes seems like the
importance of this role is not on many peoples’ radar screens.
Accordingly, getting recognition for some of our successes is
very gratifying. We also believe that integrating PCMA Award
recognition into our marketing is very helpful from a business
2015 Private M&A Deal of the Year
Crosbie & Company Inc.
Blue Mountain Resorts Limited
Winner of the 2015 PCMA Private Capital Markets Deals of the Year Award