Case Study: Quadshift Acquires POSitec Solutions Advised by Veer Business Advisors

“We’re thrilled to welcome Positec into the Quadshift family. Positec is a market leader in pharmacy retail POS software in Canada, operating in a stable, non-cyclical industry with deep customer relationships. Under the strong leadership of CEO Mark Dunlop, the company and its team has built a stellar reputation. ”

John Paterson, CEO, Quadshift

Axial Members

Member Type	Holding Company	M&A Advisory Firm
Axial Member Since	2020	2019
Headquarters	Aurora, ON	Coquitlam, BC
Axial Closed Deals	1	1
Axial Profile	View Profile	View Profile

The Business

Location: Surrey, British Columbia, Canada

Description: POSitec Solutions is a point-of-sale (POS) provider for pharmacies and retail businesses in Canada. Clients include full-service retail pharmacies, health center pharmacies (with two registers of fewer), and non-pharmacy retail businesses, such a vitamin and supplement stores, clothing stores, and gift shops.

Reason for exit: Owners Brian and Deb Joel wanted to ensure a strong, stable future for their employees and customers as they transitioned into retirement. They sought a buyer who would preserve the company’s legacy, invest in growth, and provide long-term stability—and found that in Quadshift.

Website  |  LinkedIn

Quadshift is a 14-person holding company that acquires and builds B2B software companies in a variety of vertical markets. The firm currently has more than 10 businesses in its portfolio.

Quadshift joined Axial in 2020 and had looked at 60+ deals on the platform before discovering POSitec in Q2 2024. The project, titled “Canadian POS Software Company For Sale”, was brought to market on Axial on April 8, 2024 by Candice Hartwell of Veer Business Advisors; Veer has been a sell-side platform member since August 2019.

Despite the project’s high pursuit rate of 18.32% (about double the platform average), Quadshift stood out amongst the interested buyer pool due to their distinct strategy of acquiring and scaling mission-critical vertical market software businesses. After spending a couple of months of getting to know one another, POSitec and Quadshift went under LOI in late Q2, aiming for an end-of-summer close. And while deal teams were faced a few minor hold-ups during the diligence process, the acquisition — which was the first Axial deal closure for both Quashift and Veer Business Advisors — ultimately closed in mid October.

Axial Deal Data