William Blair acted as exclusive financial advisor to Zonar Systems in connection with its majority sale to Continental AG. The transaction closed on November 1, 2016.
Transaction Highlights
- Continuing client relationships: Following a successful William Blair–advised minority investment in June 2015 by Daimler Trucks North America (DTNA), Zonar Systems' management team and board of directors continued to work closely with William Blair to evaluate strategic and financial options.
- Execution excellence leads to premium valuation: William Blair’s team led a highly competitive strategic and sponsor focused process, driving an exceptional outcome for the company.
- Trusted guidance: William Blair’s senior deal team was integrally involved in each step of the process, providing key buyer insight and in-depth situation analysis. William Blair successfully guided the company through intense strategic negotiations with multiple strategic parties. Further, William Blair helped the board navigate a unique dynamic with DTNA as a meaningful customer who will also remain a minority investor.
About the Companies
Founded in 2001, Zonar has pioneered smart fleet management technology by providing innovative technology that has changed fleet operations in the vocational, pupil, and commercial trucking industries. With a unique focus on this field, the company offers a complete suite of solutions and specialized platforms for customers in multiple markets. Its patented, award-winning technology keeps fleet owners and managers connected to their fleets and drivers to dispatchers. Based in Seattle, Zonar also has a Technology Development Center in downtown Seattle, a regional office in Cincinnati, and a distribution center outside Atlanta.
Continental develops intelligent technologies for transporting people and their goods. As a reliable partner, the international automotive supplier, tire manufacturer, and industrial partner provides sustainable, safe, comfortable, individual, and affordable solutions. In 2015, the corporation generated sales of €39.2 billion with its five divisions: Chassis & Safety, Interior, Powertrain, Tires, and ContiTech. Continental currently employs approximately 215,000 people in 55 countries.
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