Holland & Hart represented Vaporsens, Inc. (Vaporsens), a Utah-based technology company specializing in nanofiber chemical sensing research and development, in its recent acquisition by Gentex Corporation (Gentex). Gentex purchased all of Vaporsens' stock for $10.5 million, which was in addition to its previous $3 million equity investment in Vaporsens. Gentex is a technology company, proficient in a wide range of core competencies that yield a unique fusion of technologies. The transaction closed on April 8, 2020.
Gentex funded the acquisition with $7.1 million in cash payments, with the remaining $3.4 million of consideration paid with restricted common stock of Gentex. The acquisition of Vaporsens will enable Gentex to complement and expand its product offerings.
Holland & Hart’s M&A team advised Vaporsens on the transaction, led by partner Jeff Steele with assistance from core team members associate Scott Baird and summer clerk Rossetti Farrell. The team also included subject matter expertise and support from Nathan Archibald, Sanna Deerrose, Shaun Kennedy, Mark Langer, John Ludlum, Sara Shelly, Lindsay Silber, and Trent Timmons.