INDUSTRY
Ace Aquatec, an innovative marine technology manufacturer, was looking to grow the business and strengthen its market position. Avondale Corporate guided and advised on the sale of a minority stake with long-term potential.
Ace Aquatec primarily provides deterrent and stunner technologies to the global responsible fish farming market, manufacturing at two UK locations. They have a Head Office in Dundee, Scotland and worldwide distributors.
Avondale Corporate originally became involved with Ace Aquatec a few years back. We assessed that there was significant on-going growth potential, but concluded that the business would optimise its position by approaching the market seeking either a majority or minority share sale in 2019, when newly developed product lines had gained traction in international markets.
Avondale were making early preparations to approach the market during 2018 and 2019, when several companies approached Ace Aquatec. After several in-depth meetings and negotiations with both trade and investment companies, it was concluded that a minority share sale to investment firm Aqua-Spark, with their complementary portfolio of marine agriculture businesses, was the ideal partner to take the business forward.
Aqua-Spark have the potential to assist the global growth of Ace Aquatec and they also seek to invest long term, which suits the shareholders of Ace Aquatec.
After thorough due diligence and negotiations, supported by Simon Baldwin at Avondale Corporate working closely with all parties, Ace Aquatec Managing Director Nathan Pyne-Carter was delighted to announce the official completion in October, 2019.
