William Blair acted as the exclusive financial advisor to Point Grey Research, Inc. in connection with its sale to FLIR Systems, Inc. for $256 million. The transaction closed on November 4, 2016.
Transaction Highlights
- Deep sector knowledge: With this transaction, William Blair continues to serve as a leading advisor to industrial technology and high-growth, founder-owned businesses. William Blair’s cross-industry team of industrial technology and technology bankers provided Point Grey with strong access through deep relationships with likely strategic and financial buyers. Buyers were highly motivated to acquire a unique machine vision asset such as Point Grey with its high scarcity value, differentiated technology and leading financial profile.
- Execution excellence and guidance: The transaction was a complex sale of a founder-owned business involving significant, strategic and financial buyer interest. Furthermore, Point Grey Research acquired its largest customer one day prior to the IOI due date and added significant value for interested acquirers. William Blair leveraged this acquisition and the strong competitive dynamic of the process to drive an exceptional outcome.
- Highly strategic acquisition: The acquisition of Point Grey provides FLIR Systems, Inc. a strong, proven, and profitable platform from which to integrate thermal technology into the underpenetrated industrial vision and people counting markets.
About the Companies
Founded in 1997 and based in British Columbia, Canada, Point Grey is a global leader in the development of advanced visible imaging cameras and solutions that are used in industrial automation systems, medical diagnostic equipment, people counting systems, intelligent traffic systems, military and defense products, and advanced mapping systems. Point Grey designs, manufactures, and distributes its cameras and related software to a global base of customers that build systems for improving the efficiency, quality, analysis, and safety of a wide range of processes and products.
FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. FLIR's advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications, including airborne and ground-based surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, environmental monitoring, and chemical, biological, radiological, nuclear, and explosives detection.
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