Sonavision acquired by Nortek AS
International M&A specialist, BCMS Corporate, has completed the sale of a sonar technology provider, Sonavision, to Nortek AS for an undisclosed fee.
After successfully implementing a number of internal initiatives, the owners’ of Sonavision realized that any further growth was going to require greater resources. It was at that point that Sonavision approached BCMS Corporate to help find a strategic acquirer that would be able to further develop the business.
Bob Wilkinson, Director of Sonavision commented:
“We have spent the last few years instigating a program of change within the business and felt it was an appropriate time to seek outside investment. That has come in the form of Nortek AS and I look forward to working with them to develop Sonavision into the company I know it can become.”
BCMS immediately set out on a global search for a strategic acquirer; nearly half of all the top prospects identified were from overseas. Sonavision’s technology and industry focus received an overwhelming amount of interest; however, it was Nortek that proved to be the best match.
Nortek is a Norwegian-based developer and manufacturer of Acoustic Doppler Current Profilers (ADCP) and current meters for use in the ocean, rivers, lakes and laboratories. Nortek pursued the acquisition of Sonavision in order to help expand their presence in the Oil and Gas sector. Sonavision will continue to manufacture, sell and enhance its current range of sonars and subsea products and it will benefit from Nortek’s strong global technical and distribution strengths.
Mark Lucas, Deal Leader at BCMS Corporate says:
“We are delighted to have completed the sale on behalf of Sonavision. It is a dynamic business with a great product range and we have every confidence that its new owners, Nortek AS, will provide it with the necessary resources to continue to grow globally. This sale also continues to highlight that international buyers see great value in the success and professionalism of our clients’ companies.”
BCMS Corporate is a leading, independent middle market advisor with over 20 years of excellence serving clients worldwide. It is focused exclusively on the middle market, advising clients on sell side transactions, acquisitions, and private placements of debt and equity. The firm’s unique understanding of private company owners’ objectives and issues facing private companies during the transaction process has enabled BCMS to successfully execute over 400 transactions across a diverse group of sectors. BCMS currently employs over 200 professionals with offices in North America (New York, Dallas / Fort Worth, Los Angeles and Calgary), Europe, and Asia.