INDUSTRY
Established in the early 1960s, Reliant Design Solutions was a highly specialist designer and manufacturer of test equipment, supplying high-profile government projects.
After 23 years in business, the directors of Reliant Design Solutions were keen to retire. Due to the specialist nature of the company’s services, they recognised that finding a suitable acquirer was likely to prove complex. The directors engaged Avondale to generate interest in the sale of their company in order to pave the way for its sale.
Avondale conducted a thorough international market research campaign. From here, the team was able to make discreet advances on behalf of Reliant Design Solutions’ owners, targeting a small amount of carefully vetted parties. This process led to a number of offers, from which a suitable buyer for the company was eventually selected. Though the deal seemed straightforward at first, a series of legal complications arose, putting the future of the sale at risk.
Drawing on its deal execution expertise, Avondale was able to help resolve the legal aspects of the transaction and Heads of Terms were agreed within seven months. The sale project, from start to finish, took eleven months, allowing Reliant Design’s former owners to enjoy a well-earned retirement.
