We don't describe what we do in theory. Every engagement looks different, but the outcome is always the same: a more valuable business, clearly positioned for the future.
A family-owned drilling and blasting contractor serving construction and infrastructure clients across Eastern Ontario. The founder had built the company over 25+ years into a trusted regional operator — but with no formal financial infrastructure, no digital reporting, and succession entirely unplanned.
When Front Line Capital engaged with Frank's Drilling & Blasting, the business was profitable but operationally opaque. Revenue was strong, crews were experienced, and client relationships were exceptional — the hallmarks of a boomer-era contractor who built the right way.
But the business had no real-time P&L visibility. Jobs were estimated on experience and intuition. There was no CRM — client relationships lived in the owner's phone. Crew scheduling happened verbally. The business was worth less than it deserved because it would fall apart without the owner in the room.
The mandate: assess, document, and transform — without disrupting the operations or the relationships that generated the cash flow.
| Metric | Before Engagement | After Engagement |
|---|---|---|
| Financial Reporting | Annual tax returns only | Monthly P&L + job-level reporting |
| Job Estimating | Experience-based, no model | Structured cost model, variance tracking |
| Client Management | Owner's personal contacts | Full CRM, documented history |
| Crew Scheduling | Verbal coordination | Digital schedule, 2-week visibility |
| Business Continuity Risk | Entirely owner-dependent | Processes documented, transferable |
| EBITDA Multiple (est.) | 3.5–4.5x | 5.5–6.5x (projected) |
A second-generation mechanical contractor with 34 years of continuous operation, serving institutional and commercial clients across Southern Ontario. The owner, approaching 60, had no succession plan and was increasingly frustrated by the administrative weight of running the business.
Meridian Mechanical was introduced to Front Line Capital through a referral from the owner's accountant. The business had strong revenues, a loyal workforce, and a deep client list — but the owner was exhausted and had never seriously engaged a buyer because he didn't believe anyone would pay what it was worth.
The core problem: without documented systems, institutional buyers couldn't underwrite the business. Revenue was real. Processes were not. The gap between what the owner thought it was worth and what a buyer would pay was roughly 2x EBITDA — entirely a documentation and systems problem.
Front Line Capital spent 14 months in a pre-sale advisory engagement before entering a definitive agreement to acquire a majority stake.
If you're a construction company owner thinking about your next chapter, we'd like to have a conversation. Confidential. No pressure. Just a conversation.