Dear BTF Community,
Three key highlights in this interview with Connor O’Shea, President of Benpro Technologies Corporation and founder of 3Fold Capital:
- Strategic Growth Through Acquisition: After exiting his first startup, Connor O’Shea founded Threefold Capital and acquired two Alberta-based industrial companies, leveraging his oil and gas background to add value and scale effectively.
- Focused Acquisition Criteria: O’Shea prioritizes geography, industry familiarity, and company size when pursuing acquisitions, aiming for businesses with recurring revenue and operational stability to offset sector cyclicality.
- Advice for Sellers: He stresses the importance of working with a strong sell-side advisor to build trust, reduce friction in negotiations, and ensure a smooth transaction process between buyer and seller.
Enjoy,
Mark
Connor O’Shea, President of Benpro Technologies Corporation and Founder of 3Fold Capital, recently brought his unique perspective on mergers and acquisitions to the Alberta Business Transitions Forum in Calgary.
With over a decade of experience at Shell and a successful entrepreneurial exit under his belt, O’Shea now leads two Alberta-based industrial companies. His transition from corporate executive to business owner and investor offers valuable insight for those exploring acquisition strategies and succession planning.
“I spent 11 years at Shell, then left in 2019 to start a company,” says O’Shea. “After selling that business, I didn’t want to start another one—it was too much work. I also didn’t want to get a job, so I decided to buy a company instead.”
That decision led to the creation of 3Fold Capital, a general partnership backed by limited partners. Through that investment firm, O’Shea acquired two operating businesses in a single transaction: Benpro Technologies, which specializes in manufacturing custom metal bends—primarily for the oil and gas sector—and a second company providing destructive and non-destructive testing services.
“About 70 per cent of Benpro’s work is tied to oil and gas pipelines,” he explains. “But we also do fun and diverse projects. For example, we made the bike racks for the City of Calgary and roll cages for John Deere tractors.”
At the Forum in Calgary on April 22, O’Shea took part in a panel focused on business acquisitions—an area he approaches with clear strategic priorities.
“For me, geography is key. I live in Calgary and want to be close to the companies I run,” he says. “Industry is another big one. I’ve spent my career in oil and gas, so I know the customers and can add value. Size also matters—I’m looking for businesses big enough to have some structure, but small enough that I can still compete on the acquisition price.”
While oil and gas is known for its boom-and-bust cycles, O’Shea aims to mitigate risk by targeting companies with recurring or maintenance-based revenue.
“In our case, about half the work is replacing parts on existing infrastructure—not just building new pipelines. That makes a big difference in terms of stability.”
For business owners considering a sale, O’Shea emphasizes the importance of preparation—and the right partners.
“One thing that really helps is hiring a quality sell-side advisor,” he says. “They add trust, help structure the deal professionally, and reduce friction between buyer and seller. That can make or break a deal.”
As a first-time participant in the Business Transitions Forum, O’Shea shared his journey and connected with fellow entrepreneurs, advisors, and investors navigating the world of business succession and growth through acquisition.
Mario Toneguzzi is a veteran of the media industry for more than 40 years and named in 2021 and 2024 a Top Ten Business Journalist in the world and only Canadian. He also made the RETHINK’s global list as a Top Retail Expert 2024 and 2025.