Among the challenges overcome to sell the business were:
- An eight figure operating loss;
- Technology had been supplanted by 4G LTE.;
- One primary customer who was not reordering;
- Division was not a platform company;
- Buyer was unable ability to verify significant purchase orders from new customers; and
- CFO left Aviat in a critical time during negotiations with the buyer.
In 2011, GCA Partner Kevin W. Shultz, then at FTI Consulting, Inc. led the successful sale of Aviat’s WiMAX equipment business to Canadian-based Eion Wireless, Inc. In early 2012, both he and the deal team were awarded the 2011 Middle Market Distressed M&A Deal of the Year by The M&A Advisor.