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Case study: TenderSearch

How we successfully facilitated a sale during COVID-19


In May 2020, we were engaged by the owner of TenderSearch who wanted to investigate options for divestment of the business. Through direct experience in the software and tendering market in which TenderSearch operates, our Nash Advisory team had a strong understanding of the best strategy for the company's business.

We initially reached out to a limited group of parties and identified BCI Media Group as the successful bidder in July 2020. We then proceeded to diligence.

We created a comprehensive data room, managed via remote video conferencing due to COVID-19. Both BCI and TenderSearch showed exceptional commitment, navigating the challenge of remote communications while embracing a new way of conducting business.

Completion occurred in early October, and all TenderSearch staff retained their roles under the new ownership. At completion, the teams from both companies had still not met in person — but we hope that a face-to-face meeting can happen soon!


IT and digital

Key outcomes

  • TenderSearch was successfully sold to BCI Media Group in October 2020
  • All employees were retained by BCI and continue in their pre-existing roles
  • Successfully completed entire transaction via video conferencing

The situation

The owner of TenderSearch founded the company in 1984, and after a lifetime of hard work, sought to retire from the business.

Significant investment had been made in recent years to build an eProcure platform. We needed to find the right party that would generate value from this investment.

The owner and leadership team were passionate about retaining the long-term staff who worked for TenderSearch. It was essential these dedicated employees could continue their journey under new ownership.

How we got results


Assessed options for divestment

Our team already had a strong understanding of the software and tendering market, so we were quickly able to identify the most suitable strategic acquirers for TenderSearch.


Made contact with potential buyers

We reached out to the relevant parties, and started the process of whittling away the right candidates for the tender of the business. TenderSearch agreed BCI was the right fit, and we moved on to next steps.


Negotiations and agreement

Our team worked diligently with both BCI and TenderSearch owners to ensure the transfer of the business was to satisfaction, and legal contracts were drawn up.


Created a comprehensive data room

Before the owner retired, we created a data room to handover to the new owners of TenderSearch. This was conducted exceptionally well via video conferencing, with fantastic dedication from both businesses.

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The successful completion of this transaction was particularly pleasing given the challenges of COVID-19. We were fortunate that both TenderSearch and BCI were both innovative forward-thinking companies that embraced the circumstances and completed a highly strategic transaction.
Paul Nemets
Paul Nemets

The people involved

Timeline of the sale

May 2020

Nash Advisory was engaged by TenderSearch to conduct a divestment.

June 2020

We approached a select number of strategic parties for the potential acquisition of the business, and identified BCI as the successful buyer.

July 2020

Within 2 months of being engaged by TenderSearch, we proceeded to due diligence and contractual discussions with the assistance of Kain Lawyers.

October 2020

We completed the transaction, and assisted in the handover between TenderSearch and BCI by creating a data room.

Services offered

Find the right sales strategy for your business

Our team at Nash Advisory assists throughout the divestment process, ensuring a strategic and valuable outcome for business owners. Contact us for advice from the experts.

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