Background

• Engaged by investors of agtech company to sell company
• Company had applications in 3 major areas- crop/animal /human probiotics

Activities

• Commenced sell side M&A process to a find an acquirer
• Quickly found that different parties wanted different elements of the company – some were interested in entire company
• Numerous interested parties which condensed to four
• Two of them were with existing partners who were not offering attractive valuation and were not pursued
• Remaining two were very interesting and attractive offers
• Pursued transaction with company looking to acquire entire company in all cash transaction
• Managed discussions with other interested party to keep them close and given potential licensing opportunities
• Preferred acquirer ended up buying another company, became very distracted and ultimately deal fell apart
• Due to ongoing dialogue with other interested party acquisition talks where immediately picked back up

Results

• Ended up selling one application from company to large international strategic at over 3x valuation of their initial offer
• Complicated and challenging transaction due to complexity of certain patents (licencing in and out etc.)
• Managed the relationship and transaction to close