The shareholders and management team of Nehemiah were looking to complete a full sale of the business and hired Ascend due to our deep expertise in software, as well as the cybersecurity and risk management ecosystem. We shepherded Nehemiah through the entire lifecycle of the transaction:
- Organizing and preparing the Company for a sale including a bottoms-up financial model, detailed cross-sell and upsell analysis for each buyer, and KPI deep dive analysis along with positioning and marketing materials
- Conducting outreach efforts by developing a bespoke universe of prospective buyers and facilitating communications with each group
- Creating a competitive environment to maximize price and terms
- Soliciting and negotiating letters of intent
- Managing the due diligence process
- Liaising with the buyer’s advisors to close the transaction
- Software & Technology
- Sell-Side Transactions
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After defining the "ideal buyer" with Nehemiah, we developed a limited universe of prospective buyers with a known interest in risk quantification software. Based on the specific interests and gaps of prospective buyers, we then curated materials and analysis specifically targeted for that audience with a goal of building competitive tension through scarcity of time (setting hard dates and milestones) and value (one-of-a-kind asset that will trade to a competitor).
Unknowingly, we faced an uphill battle as COVID struck right after launching the marketing process. However, our positioning of Nehemiah, extensive connectivity in the space, and disciplined approach enabled us to successfully solicit multiple LOIs from various buyers during the height of the pandemic.
Ascend was an incredibly valuable partner to our team throughout the sale process. They are a relationship-focused team and never lost sight of the bigger picture. Their extensive insight and knowledge around positioning and buyers, and their disciplined approach to negotiations helped us achieve a great outcome for everyone.
- Chief Executive Officer at Nehemiah Security