True North Avionics was the leading provider of in flight connectivity to long range wide and narrow body business jets.
The Company engaged Welch Capital Partners to assist in a strategic sale to one of the top connected aircraft companies in the world ultimately creating a full suite connectivity platform like nothing else in the industry.
WELCH CAPITAL PARTNERS’ APPROACH
True North had no shortage of prospective Buyers, however, Management recognized that there was really only a small buyer pool that would recognize and pay for the strategic merit of the opportunity. They realized that a competitive process would be necessary to help drive additional value and generate negotiating influence. Additionally, True North had an existing and unique IP licensing agreement with one of the prospective buyers that required a unique marketing strategy and deal structure to protect the Company’s value throughout the process. Through a well thought out competitive process, Welch Capital Partners created an effective amount of competitive tension that translated into multiple strong offers for the company.
THE WELCH CAPITAL PARTNERS ADVANTAGE
This approach resulted in a higher than expected sale price for True North and limited any prospective buyers’ ability to put downward pressure on the sale price despite a relatively small number of buyers that were a logical fit.