Client’s parent De La Rue is the world's largest commercial security printer and papermaker, involved in the production of over 150 national currencies and a wide range of security documents such as travelers cheques and vouchers.
Trefethen professionals were engaged to advise on the sale of Sequoia Voting Systems, a leading provider of voting equipment systems, election print materials, software and election services in the U.S.
On December 2, De La Rue announced its intention to sell Sequoia by the following March, providing less than four months to identify and contact buyers, structure a transaction, complete due diligence and close the sale transaction.
For the first six months of the fiscal year, client generated $15.3M in revenue and ($4.9M) of losses.
Smartmatic, a network device company with election systems products sold outside of the U.S., was looking build a presence in the U.S.
The transaction brought together two leading suppliers in the global voting systems market.
Trefethen professionals completed the sale in slightly over three months, nearly three weeks ahead of the time frame publicly set forth by De La Rue