Telephoto has been a provider of services to the horse racing industry for over 50 years. These services include video recording of all races, a photographic record of all horses that finish each race and additional camera services under contract with race track owners. The Company provides its services under contract with the Federal Government. Telephoto has entered the "Digital-Out-of-Home" advertising business using its network within the North American horse racing industry.
NewPoint was retained as exclusive financial advisor to a group of business executives who planned to invest in one or more businesses that would benefit from their strategic, financial and corporate governance capabilities. They were in early-stage discussion to purchase Telephoto.
NewPoint played a key role in determining a purchase price, led the negotiation of the purchase and structured and raised the financing necessary to complete the acquisition of Telephoto. The successful negotiation of a vendor note led to the maximization of the equity percentage received by the client.
Management Buy-In of Niche Service Provider.