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Micro Nav acquired by Quadrant Group

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Effective August 23, 2012 – BCMS Corporate has finalized the sale of software company Micro Nav Ltd., a global market leading specialist developer of air traffic control simulation software and training systems to Quadrant Group. BCMS Corporate served as the exclusive advisor on the transaction. Under the terms of the sale both businesses will continue to trade separately.

“We are delighted to have facilitated this company sale. I am extremely confident that Micro Nav will continue to lead its market with the support of Quadrant,” stated BCMS Corporate Deal Leader, Steve Marston.

Micro Nav is a global market leader in the Air Traffic Control Simulation business, with particular strength in Europe, Asia and the Middle East. It has developed a complete range of proprietary software-driven simulation products, the most widely known being the “BEST” range of ATC simulation systems. Micro Nav, founded in 1988 by two of its current shareholder directors, was awarded the Queen’s Award for Enterprise in 2010, recognizing its consistent strong growth in export markets. It has more than 50 blue chip customers in over 25 countries around the world.

The founders made the decision to lead Micro Nav into the next phase of its growth via a sale to a strategic acquirer and retained BCMS Corporate to deliver this objective. Mike Male, Managing Director of Micro Nav states, “The purchase by Quadrant provides an ideal fit for Micro Nav and as part of a larger integrated company, with shared values, we are now ideally placed to continue with our ambitious growth plans.”

Commenting on the acquisition David Coghlan, the Quadrant Group Chairman said, “we are delighted that Micro Nav will be joining Quadrant – Flight Simulation and Air Traffic Control Simulation are closely aligned specialist niches within the worldwide aviation training market, with opportunities for increasing technical convergence between them. Combined revenues of the two businesses approach $31.6 Million, with around 180 staff now in the enlarged Quadrant Group”.

Mike Male, Managing Director and co-founder of Micro Nav, also welcomed the transaction and said “this is an excellent way forward for Micro Nav to become part of a larger organization in a compatible field, and we particularly like the fact that the values and focus on customer service are very well matched. My fellow directors and I are very much looking forward to leading Micro Nav in the next phase of its growth as part of the enlarged Quadrant Group.”

“We are excited about the prospects for Quadrant Group and have been working with the management team to put in place a facility that will be able to support the development of this successful SME in an attractive global market.” said Kirsty Sadler, Relationship Director at Lloyds Bank Wholesale Banking and Markets.

Jeff Sandiford, CEO of Quadrant Group, was enthusiastic about potential synergies and added “Micro Nav will continue to operate as at present with all Directors, Management and Staff remaining in position. The shareholders of Micro Nav will retain ongoing interests in the business as active shareholders of the enlarged Group”.

BCMS Corporate is a leading, independent lower-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), Africa, Europe and Asia.

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Posted Aug 2012
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