COVID-19: Nash Advisory support for your business COVID-19 response.

Services

Our team are experts in a range of services. Whatever your business goals happen to be, we can help you achieve them.

See all services

Industry reports

Gain deeper insight into your industry and competitors with the help of our comprehensive industry reports

See all industries

Case study: Av-Comm

How we secured a key business acquisition in a highly technical industry

Overview

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.

Industry

Industrials and telecommunications

Key outcomes

  • Through our network at Nash Advisory, we quickly obtained a meeting with the CEO of Hills Limited and began discussions around an acquisition
  • Undertook a detailed commercial and financial due diligence process, submitting a non-binding indicative offer within 30 days
  • The time between the Nash engagement and the agreement on the non-binding indicative offer was under 60 days, and the transaction completed within a further 60 days

The situation

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.

How we got results

1

Assess the business value

We mobilised quickly and acted decisively, working together with Av-Comm to assess and value the STEP business.

2

Diligence and Q&A

Engaged with the seller to expedite the Q&A and diligence process, noting the business was being sold through a competitive process.

3

Provide value for buyer and seller

Presented a unique structure to mitigate risks for Av-Comm, while still providing value to the seller.

4

Negotiations and agreement

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.

Get in-depth insights and analysis for your industry

See your industry
When advising on an acquisition, a key part of the process is understanding and factoring in the post-acquisition integration, and how that will affect value. Our team worked with both our client and the vendor to ensure the risks were known and accounted for every step of the way.
Sean O'Neill
Sean O'Neill
Director

The people involved

Timeline of the sale

August 2019

Engaged by Av-Comm to investigate and conduct diligence on STEP Electronics.

September 2019

Within 30 days, in collaboration with Av-Comm, we were able to present a detailed NBIO to Hills Ltd for consideration.

October 2019

Begin to draft and negotiate business sale agreement, employee contracts and other key terms.

November 2019

Assist Av-Comm with finalisation of key sale documentation and signing.

December 2019

Finalise conditions, precedents, and transfer of contracts and staff. This achieved completion of the acquisition.

Services offered

Achieve a success acquisition for your business

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.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.