Venture capital investors obtain liquidity

The Challenge 
The Company, owned by two venture capital funds, developed near infrared on-line process control devices.  The devices were primarily used in food processing and environmental cleanups. Although a technological leader, the Company was unsuccessful in marketing its devices, and the venture capital funds did not want to make additional investments in the Company. 

True North’s Role
A principal of True North worked with the investors to develop an exit strategy, identified and contacted potential buyers, assisted management in making presentations, and conducted the negotiations.  After receiving a number of offers, the investors sold the Company to a subsidiary of a NYSE-traded technology company.  In the transaction, the investors received cash and an earn-out, and the president and founder received an offer to head a research lab and stock options in the acquiring entity.