The situation.
After several years of rapid growth, the shareholders of Union Four Electronics recognised that the business needed a larger partner to make the most of the opportunities in front of it. They appointed Leith M&A as exclusive adviser.
Our approach.
A full commercial audit of the business, preparation for sale and an agreed sale strategy.
A confidential teaser and information memorandum, prepared by our research team.
A map of the international market, covering trade and strategic acquirers as well as private equity, family office and venture capital investors.
Confidential approaches to the approved list, narrowed down to a small number of serious suitors.
What made it difficult.
Cross-border deals bring different time zones, cultures and expectations on pace, and a listed multinational makes decisions very differently from a single-site UK business. Managing both sides’ expectations, with some late nights and early mornings on each side of the Atlantic, kept the deal on track.
The outcome.
Meetings chaired by David Nelson produced several competing bids. OSI Systems Inc. was in the strongest position to complete and was granted exclusivity. David then worked with the shareholders, their accountants and their solicitors, Downs Solicitors LLP, through due diligence and the share purchase agreement to completion.
