HONEYWELL
SITUATION
Seale & Associates was engaged by Honeywell for the divestiture of Tensor, a provider of precise measuring tools, and systems for petroleum exploration and underground utility boring industries and is known for systems used for directional surveying and navigation.
SEALE & ASSOCIATES' APPROACH
“As compared to the many other investment banks we worked with at Allied Signal [Honeywell], Seale’s commitment to process stood out and their target identification and pre-qualification skills were truly second to none.
Seale is very hands on, and unlike many other banks, actually willing to do the hard work, like preparing first drafts of management presentations, rather than just reviewing or commenting on a client prepared draft.
In my experience, Seale was unusual in that they were the only boutique investment bank I can recall that had the specialized skills, knowledge and relationships to be successful handling the global M&A demands of our diversified industrial conglomerate.”
Martin Cohen, former Vice President of Corporate Development, Honeywell
Seale professionals began a competitive auction process, in which Seale identified all strategic and potential buyers. Subsequently, GE pre-empted the process, and Seale managed a preferred buyer process while using its research and relationships to leverage deal terms.
OUTCOME
Seale used its relationships in the industry and potential to expand from the preferred buyer process to a competitive auction to successfully negotiate a transaction on seller friendly terms and conditions.