We are delighted to have advised rFpro on their sale to AB Dynamics.
Founded in 2007, rFpro provides high quality simulation software for the automotive sector. Historically the company served Formula 1 and motorsport by creating Digital Twins of tracks. More recently, rFpro has been providing solutions for the wider automotive industry, specifically for vehicle dynamics simulation and the testing of autonomous vehicles.
Favourable market dynamics driven by increasing investment into the autonomous vehicle space meant that rFpro was at an inflection point and requiring further support and investment to benefit fully from the increasing demand for their software solution. This prompted the shareholders’ to investigate a sales process.
Following a competitive tendering process, the shareholders engaged with us due to our global presence.
We supported the shareholders by providing extensive research to formulate a targeted list of strategic global buyers who were then presented with the key value drivers in a way that created a highly competitive process.
The process flushed out a number of interested parties and enabled the team to agree and complete a deal within a month of providing exclusivity to the eventual buyer AB Dynamics plc. The deal value represents a c.16x multiple resulting in a fantastic result for the shareholders and an ideal strategic owner for rFpro going forward.
Our advice and the discreet and focussed process ensured that the outstanding value achieved was maximised and sustained through to completion.
We are extremely happy with the outcome achieved and are grateful for the support that we received from Nigel, Will and the Grant Thornton team. The team were great to work with and their advice and process ensured a fantastic outcome for all involved. The future of rFpro under ABD’s ownership is a truly exciting one.Founder and shareholder rFpro