Select Transactions
These are a few of the exits where I have permission to publish the details.
Parasun Technologies
At Parasun's second strategic planning retreat in September of 2005 the board and management agreed that the exit strategy was to sell the company for more than $10 million by late 2006 or early 2007.
The LOI was signed early in 2007, but the price was $14.8 million.
"Basil...drove the Board and management politely but relentlessly to maximize the value and attractiveness of the company." -Barry Carlson, Parasun past CEO and Chairman
Case Study | Testimonials | Part 4 of this video describes why the Parasun exit completed on schedule but for 50% more than the goal.
The Sunaptic Sale
The acquisition of Sunaptic by Visiphor is another good example of how multiple bidders can increase the final price by 50% or more.
"[Basil] then worked tirelessly to ensure that the entire process went smoothly for both parties, brokering discussions, suggesting solutions to impasses, and generally supporting the process."
-Mike Hilton, President of Sunaptic
The PCS Wireless Exit Transaction
Occasionally an exit goes much better than anyone dared to hope...the PCS Wireless exit worked out exceptionally well for some of the participants even after the company looked like it wasn’t going to be a success.
"Your strategy worked so well that the companies merged and on the back of the Broadband Network sale, our stock went up over 400%."
-Ralph G. Scobie, CEO of PCS Wireless
Nexus Engineering
I founded Nexus while I was still in grad school. It was my first company and I learned everything about running a company on the job. Unfortunately, I made the classic mistake of thinking that I could also learn fast enough to execute the exit myself. The exit closed, but only because we were lucky - several times.
Parts 1, 2 and 3 of this video describe all of the things I did wrong in my very first exit and the first time I lost several million dollars. Part 4 contrasts the Nexus exit with the Parasun case where everything proceeded according to a well developed plan.
