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Case study: Striven Group

How we found new opportunities for a business to diversify their portfolio

Overview

We helped Striven Group find companies for an acquisition that were outside of their industry sector.

Striven approached Nash Advisory with the intent of finding a way to grow their business into new sectors to increase market share. They wanted a comparable company of size, complimentary customers, and technology which would give their business a chance to grow.

We assisted Striven Group with a buy side acquisition search to find them suitable options. Our deep analysis of the market provided multiple targets to put Striven on the right path to finding an ideal candidate.

Industry

Software

Key outcomes

  • Identified new business expansion options
  • Established a new acquisition strategy
  • Helped the board to develop a long term strategy

The situation

Striven Group has been operating in their industry for over 15 years. The point of sale market in Australia has undergone substantial change with the advent of digital technology that's changed the way customers access products and services.

Striven Group wanted to capitalise on their already strong position in the marketplace. They saw the need to grow their business portfolio by acquiring a new business and wanted to investigate the possibility of extra avenues for growth. They wanted to investigate the possibility of additional expansion routes but they didn't know where to start.

How we got results

1

Detailed market analysis

We carried out a detailed market analysis on point of sale businesses. We developed key insights through targeted questions and due diligence on potential targets.

2

Proprietary research

We condensed our comprehensive list of businesses with a detailed market analysis, discussions with potential targets, and working to preliminary criteria provided by Striven Group.

3

Deep industry analysis

Our deep analysis of the industry was conducted by speaking to management, industry participants, and competitors. This research gave us an informed position from which to conduct further analysis.

4

Submission of reports

Our strong backgrounds in financial and commercial analysis led to a well-developed report that was created in house. This in depth report was presented to Striven Group's management.

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"With the advent of digital technology and the disruptive effect of app-based solution providers, there was a fantastic opportunity for Striven Group to capitalise on the strength of their position in their market. We explored the option of acquisition-based growth as a way to add substantial value to their customer base."
Lucas Couper
Lucas Couper
Managing Director

The people involved

Timeline of the sale

December 2017

Initial contact with Striven Group and reaching out to target businesses.

February 2018

Undertake preliminary management due diligence.

April 2018

Present initial findings to board and management.

May 2018

Undertake deep diligence, negotiate legal agreements, employment agreements, and undertake technology review.

June 2018

Finalise business agreements.

August 2018

Completion of initial acquisition and shift focus to integration.

Services offered

Find the right sales strategy for your business

At Nash Advisory, we invest considerable time in market research both domestically and internationally. We'll narrow down a list of potential businesses that perfectly match your acquisition goals. With detailed market analysis reports, we'll help you make an informed and confident decision.

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