Nash assisted Av-Comm with the acquisition of STEP Electronics, owned by Hills Limited, facilitating an expedient and effective acquisition process.
The owners of Av-Comm engaged Nash Advisory to assist with the approach to Hills Limited, due diligence, negotiation, and eventual acquisition of STEP Electronics from Hills Limited. Over a short time frame, the Nash Advisory team, led by Sean O’Neill and Kevin Han, were able to diligently and efficiently analyse the business, and present and agree to a formal term sheet for the acquisition. The transaction was diligently managed to avoid disruption to either business.
Industrials and telecommunications
Av-Comm engaged Nash Advisory to approach Hills Limited with the aim to acquire Step. Nash Advisory was the commercial and financial advisor on the transaction.
Nash Advisory undertook diligence, drafted a Term Sheet and negotiated details with Hills, resulting in signing a Term Sheet within 90 days of their market announcement. Ultimately, Av-Comm were able to acquire the business, contracts, and offer employment to all STEP Electronics staff, completing the transaction within 130 days of the market announcement.
We mobilised quickly and acted decisively, working together with Av-Comm to assess and value the STEP business.
Engaged with the seller to expedite the Q&A and diligence process, noting the business was being sold through a competitive process.
Presented a unique structure to mitigate risks for Av-Comm, while still providing value to the seller.
Worked diligently through negotiations on terms to secure an NBIO and subsequently agree and sign sale agreements. We also sourced a competent law firm to assist on the transaction.
Engaged by Av-Comm to investigate and conduct diligence on STEP Electronics.
Within 30 days, in collaboration with Av-Comm, we were able to present a detailed NBIO to Hills Ltd for consideration.
Begin to draft and negotiate business sale agreement, employee contracts and other key terms.
Assist Av-Comm with finalisation of key sale documentation and signing.
Finalise conditions, precedents, and transfer of contracts and staff. This achieved completion of the acquisition.
The team at Nash Advisory can help you with every step of a business acquisition, ensuring a successful outcome. Get in touch for expert advice.