INDUSTRY
“Avondale’s knowledge and experience has been invaluable to us and I have already recommended you to another business owner!”
Business growth requires focus and Licence Check owner, Richard Brown, as a successful entrepreneur with multiple business interests, recognised this.
Having built the business over many years and following the recent launch of a leading new web-based driver and vehicle fleet compliance platform, Richard appreciated that to realise the full potential of the business would require the focus and resources of either a dedicated strategic partner, or one which could provide the necessary funding to maximise the business’s potential through accelerated growth.
And so, during mid 2017 Richard and fellow shareholder Terry Hiles chose Avondale to assist them in their search for suitable candidate organisations and thereafter ensure a successful move for the business.
Following an extensive research project, targeted with identifying the most suitable strategic potential acquirers, Principal Consultant Simon Baldwin introduced Licence Check to a carefully qualified short list of potential acquirers. These included 3 potential strategic acquirers and an investment company with an existing portfolio of companies, including one which had synergies with Licence Check.
Interest was high from everyone within this group but as discussions, sympathetically chaired by Simon, progressed it became apparent that there were two clear front-runners each finally submitting a highly compelling bid. These offers were both highly attractive and close in value, with one from the investment company and another from a company operating within the same sector. After careful and deliberate consideration, Richard and Terry selected Ebbon-Dacs which provided the strongest synergies due to operating within the same sector.
Principal Consultant Simon Baldwin added “It has been a pleasure to work with Richard and Terry and to establish the ideal acquirer that brings the extra resource and synergy that will help accelerate the future growth of Licence Check.”
“Avondale have been extremely supportive and Simon was instrumental throughout the whole process. He guided us consistently and expertly through the whole exercise and was always willing to assist in the sometimes difficult negotiations to ensure we achieved a successful outcome not only in terms of realising the best price for the business but also securing a buyer who can really help the business achieve its potential. I look forward to watching it go from strength to strength. Avondale’s knowledge and experience has been invaluable to us and I have already recommended Simon and Avondale to another business owner!”
Richard Brown, Licence Check
