Our client, a major provider of telemetry services to the oil and gas industry, had been in operation for over 30 years, and in that time established itself as a market leader in its field. The major shareholders of the company had reached retirement age and were eager to explore options to sell the company.
Despite our client’s business being based in Australia, most of our client’s customers were located throughout Europe and North America, and our client’s competitors were primarily located in North America.
How We Helped
We were retained to advise our client on potential exit options, and as part of this engagement we advised our client to conduct a confidential, off-market, competitive sales campaign that involved approaching the three biggest competitors to our client and seeking their offers to acquire our client.
We conducted an internal review of our client’s operations and financial performance, and prepared the company for the market, including providing valuation advice and preparing information memorandums which appropriately presented the opportunity whilst managing the confidentiality risks inherent in offering the business to our client’s major competitor.
We then worked with our client to approach their competitors and seek out initial interest in the opportunity, and to negotiate offers from each competitor. Our success in this process was demonstrated by the fact that each company which we approached made an offer to purchase the business.
We assisted our clients with navigating the complexities of completing a high value, cross-border transaction and made ourselves available at all hours to facilitate negotiations with the acquirers and to help manage the due diligence process.
We also partnered closely with our client’s accounting and legal advisors both in Australia and overseas to ensure our work tied in closely to their long-term plans for the client.
Completing A Successful Sale
Our expertise assisted to generate an optimum sale result for our clients on terms that were consistent with their goals.
Find Out More
Groves & Partners are experts in completing strategic business sales. Contact one of our team today to find out more.