Interview Transcript

This is a snippet of the transcript, sign up to read more.

You touched on signature management versus power management. Within those categories, is there any product line or area where they really focus?

Addressing one of your future questions, why would Advent sell it? Well, they couldn't have chosen a better time. When they bought it, Ultra did not have any contracts related to the AUKUS agreement or AUKUS submarines. There were no contracts on the sheets or expected for AUKUS submarines from Ultra. Then, suddenly, all of that happened, and now they're on the sheets. The valuation jumped for reasons unrelated to anything Advent did; it was due to external factors creating a new market in Australia for UK submarines. It was like a blessing. They have the contracts and are working on them at the preliminary stage. When you have a big contract, the only thing that can happen is something goes wrong. From Advent's point of view, they want to get the cash back. They got a good multiplier, a big escalation in expected value, and they put a decent multiplier on it. So, it was a good time for the sale. I'm not surprised it happened.

This is a snippet of the transcript, sign up to read more.

Sign up to test our content quality with a free sample of 50+ interviews