Situation

A private equity-owned leading provider of test and measurement solutions to the flat panel display industry was initially working to carve out and sell one of its two major operating divisions in order to focus on its core business. Subsequent to that sale the company was sold in its entirety to a major, publicly-traded Japanese global technology provider. The company needed CFO-level expertise and leadership to assist with these two significant events while managing day-to-day accounting and reporting activities and leading process improvement initiatives.

Solution

First, a NextLevel principal joined the company to assist with the sale of its optical and illumination design software division. After that sale a different NextLevel executive team member with substantial transaction experience came in to assist with the ultimate sale of the company. Both processes included data room organization and control, and responding to buyers’ due diligence requests relating to finance, accounting and tax-related matters, financial analysis, and setting working capital targets. The company sale also required financial projections including cash flows, market and income-based valuation analyses and assessment of foreign capital gains tax consequences.

Results

  • The company completed the carve-out and sale of its optical and illumination design software division for an undisclosed amount.
  • The private equity group completed the sale of the company for $230 million to the large Japanese conglomerate, who plans to integrate the company into its sensing business unit.
  • Both transactions yielded sizable returns for the Seattle-based private equity group.

Ready to create value?

As a strategic partner to corporate leadership and management teams, we optimize processes, catalyze performance, and build enterprise value.
Let's Talk