Insights
- The company’s founders wanted to:
- Position the company for a timely sale
- Provide for the exit of the founders within a short time frame
- Take care of their management team and employees
Action
- Two Newport partners served as the exclusive financial advisor to the company
- Preliminary valuation expectations were set with the founders
- Transaction sale documents were developed (teaser, CIM, updates)
- Due diligence materials were prepared and managed in virtual data room
- A buyer list was developed and a sales strategy was executed
Results
- Newport partners ran the sales process and executed the transaction on favorable terms
- Newport managed the entire sales process virtually due to the ongoing pandemic and was able to close the deal on time
- The founders were pleased with the sales process and have moved on to their next chapter in life.