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CASE STU DY
MK&A was involved in key
milestones for this training
company, helping it focus its
financial strategy and avoid
costly missteps in its
business decisions.
FTT has been a leader in offering
practical, theory and skill-based
training on all vehicular handling
equipment since 1978.
THE CHALLENGE
In 2000, the founder and owner of FTT sold the company to a
group of private investors and stayed on as a board member
with expectations of nationwide expansion and company growth.
However, shortly thereafter the new executive’s mismanagement
and misunderstanding of the fundamentals of the industry resulted
in FTT’s financial decline.
The founder could no longer stand on the sidelines. He proposed
to buy the company back, but required expert assistance for this
highly sensitive transaction.
Arthur Brook, founder of FTT, began working with MK&A in 2001
with two goals in mind:
Purchase FTT back from a
group of investors under new
terms that were financially
beneficial to him.
Partner with a financial
business advisor who would
be there every step of the way
to assist in turning FTT around
and help with a transition
strategy down the road.
“Running the company is one thing, but
when it comes to accounting and financial
considerations, it’s totally different.”
~ Arthur B rook, Founder, FTT
CA S E S T U D Y
“MK&A are not just accountants, they’re business
advisors in all aspects: wealth management,
investment, accounting, forward vision; helping you
and your business in every way.”
~ Arth u r Bro o k, Fo u n d e r of F T T
THE SOLUTION
Purchase FTT
back under better
financial terms
2001
Negotiate a financing
and payment plan for
the purchase
When MK&A started working
with Arthur, the aim was to
support the company through the
buy-back, leaving both Arthur
and FTT in a stronger position.
On the brink of
bankruptcy with a
deficit of $600K+
GET IN TOUCH WITH US
Turn FTT around to
become a profitable
organization once
again
By 2016, FTT is a
multi-million dollar
company.
Work on a personal
estate plan to eventually
transition the company
“MK&A helped put the
will together in terms of all the
different scenarios that I wouldn’t think about.
Michael was a huge help.” ~ Arthur Brook
"There was money owed to the group of investors and that’s where MK&A really came in
and helped save over $100,000 through the process of financing and negotiation," says
Matthew, general manager at FTT. “MK&A also helped us with selling office units, and
they helped us structure the transactions such that there were no capital gains taxes. If
we had done it on our own, we would have erroneously treated it as a typical real estate
transaction. MK&A handled everything. All we had to do was pick up the cheque and
drop off the keys.”
Today, MK&A continues to support the company’s growth. “MK&A continuously
provides unique suggestions as to how we might grow the company,” says Arthur. “They
understand our market; for example, our business has been affected by the decline of
manufacturing and so we’ve needed to head in a different direction. We always get
MK&A’s input on what we’re doing as a business and their suggestions are invaluable.
They look after us.”
If you’re looking to maximize the value of your
work at both a personal and business level.
Tatyana Khazova
Accountant
(905) 731-8977
[email protected]
www.mkateam.com
today
UNIQUE
SERVICES RENDERED
• Company buy-back negotiation
• Personal investment planning
• Estate planning
• Exit strategy and succession
planning
• Tax-effective sale of real estate
- proposal, negotiation and
finalizing
ACCOUNTING
SERVICES RENDERED
• Tax minimization strategies
• Annual financial statements
• Personal and business tax filing