Deal closed: October 2019
Oasis M&A mandate: Sell-side
Sectors: Hospitality, Catering, Food & Beverage / Technology
Sub-sectors: Hospitality Software
Background & motivation
H&L Australia (H&L) is a technology leader in the hospitality industry, offering a complete suite of integrated hospitality point of sale, workforce management and booking solutions. After previously working with Oasis Partners on board and strategy work, the owners of H&L decided the time was right for a strategic exit.
H&L is a company rich in intellectual property. During the execution of the mandate, there was strong interest from private equity companies who were not across the technologies. This required Oasis M&A to adequately educate the potential acquirers about the worth of the IP, so that H&L could be properly valued.
Oasis M&A approached a number of companies in software development, point-of-sale technologies, and professional services, as well as private equity. There was strong interest in H&L, with several offers tabled from both local and overseas acquirers.
Oasis M&A used the fact that there were several offers to generate competitive tension in the bidding process.
Through this approach, Oasis M&A was able to extract more value for the owners and garner better terms for the sale of the business. Ultimately, H&L was acquired by Valsoft Corporation Inc., a Canada-based aggregator of software technology.