Strategic Sale

The Company is a leading developer of unmanned, underwater vehicles (UUV).

Transaction Overview:

The Company had achieved great success in developing and deploying UUV prototypes . The Company needed capital to move the prototypes to full production and were faced with a decision of whether to raise equity capital or sell the business to another company with the requisite resources to commercialize the technology.  Trestle was asked to help the Company evaluate their strategic options and execute on the best alternative.

Results:

The Company ultimately decided that acquisition by a larger entity was the optimal way to get the technology to market and maximize value for the Company’s shareholders.  Trestle was asked to undertake a very targeted process that centered on one discussions with one strategic acquiror who the Company believed to be their best potential partner.  The Company was sold to this publicly traded corporation in a cash deal that included an initial cash payment as well as an earn-out payment based on future technical milestones, which was fully achieved.