Success Story

Transaction Support

Engagement

In spring 2012, Defran Systems was approached by multiple private equity-backed strategic buyers interested in acquiring the company. Defran retained ST Advisors for our suite of Transaction Support services, giving us the opportunity to serve as an M&A coach and trusted advisor to its founder and CEO.

Our first order of business was to assist Defran in the selection of an investment banker to execute a market check, enabling us to help the company’s management optimize valuation and other key considerations. We subsequently worked alongside the banking team to build the financial model, broaden the list of potential suitors, develop marketing materials, ensure a strong management presentation, and assess term sheets and deal terms.

ST Advisors also enjoyed a strong relationship with the acquiring company’s board and management team, enabling us to act as the voice of reason throughout the process. In this role, we were able to help both parties “get to yes” and close a transaction that benefited both buyer and seller.

Results

In December 2012, Defran Systems was acquired by Netsmart Technologies, the leading provider of clinical solutions for health and human services organizations nationwide. Defran’s CEO remained a senior Netsmart executive until Netsmart’s ultimate sale to GI Partners and Allscripts in 2016.

EXPLORE CASE STUDIES
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As I navigated the sale of my business, ST Advisors was my trusted guide through the entire process. From the idea stage through close, they assisted with everything including banker selection, creation of the potential buyer short-list, financial modeling, management presentation coaching and negotiations. However, most importantly, ST Advisors was an instrumental asset during the most contentious period of the deal process. I have no doubt that we were able to achieve a successful close because of ST Advisors’ involvement and contribution.

Fran Loshin-TursoCEO of Defran Systems
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Ben’s knowledge of the industry, and his ability to moderate and serve as the voice of reason during a complex process, proved to be the key to making a difficult transaction come to fruition. Whether a transaction is small or big, experience is critical, and Ben’s experience makes all the difference when it comes to bringing two organizations together.

Mike ValentineCEO of Netsmart Technologies
ADDITIONAL CASE STUDIES