Management Buy-Out (www.idatech.com)
Via its networks, CoreTec learned of the potential to acquire the business of IdaTech LLC. IdaTech is a fuel cell solutions developer with proprietary multi-fuel fuel processing technology, fuel cell stack, power module and fuel cell system integration capabilities.
Understanding the potential of this developer, CoreTec introduced the acquisition opportunity to Investec,Understanding the potential of this developer, CoreTec introduced the acquisition opportunity to Investec, a specialty banking group that provides a diverse range of financial products and services to a niche client base internationally. CoreTec was aware of Investec’s strategy of investing in world-class energy technology assets.
During the acquisition process, CoreTec gave on-going assistance and advice in particular in selecting the appropriate technical and commercial experts to perform appropriate due-diligence. The speed with which CoreTec identified and put forward experts from its networks helped to keep the timetable to completion on track. CoreTec remains in discussions with IdaTech in the identification of suitable members of its non-executive board.