Financial Opinions

Reliable Insights for Strategic Financial Decisions

Financial Opinions

Empire Valuation Consultants, Financial Opinions Group is a dedicated team of professionals within the firm that delivers valuations, fairness opinions, and solvency opinions. The team’s capabilities and client-centric focus make us the firm of choice for private equity and middle market clients undergoing a strategic transaction. We produce timely and thoughtful analyses and opinions that help sponsors and management groups maximize returns across each stage of the investment lifecycle – from acquisition to disposition.

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valuation engagements

We have extensive experience providing fairness and solvency opinions to boards of directors, transaction committees, independent trustees, lenders and others with a fiduciary obligation to a particular set of existing or prospective stakeholders. Our opinions are independent and objective, built on thorough research and detailed analysis, and provide our clients with added assurance and confidence as they make crucial transaction-related decisions.

Fairness opinions

A fairness opinion is a formally written analysis of the fairness, from a financial point of view, of a potential transaction. The opinion is based on the financial factors of a prospective transaction and provides an independent and objective analysis of the proposed transaction from the point of view of one or more interested parties.

solvency opinions

A solvency opinion examines the ability of a company to meet its debt obligations as they come due, and is typically issued in connection with a highly leveraged transaction, a capital or debt restructuring, or a dividend recapitalization. Most solvency opinions apply three standard tests: the balance sheet test, the cash flow test and the reasonable capital or capital adequacy test. Each of these tests must be satisfied in order for the company to be considered solvent post-transaction.

Bill Johnston

CEO – Senior Managing Director

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Articles

Update: Fairness or valuation opinion to be required by SEC in GP-led secondary transactions.

On August 23, 2023 the Securities and Exchange Commission (“SEC”) voted to adopt new rules and amendments under the Investment Adviser Act of 1940 (the “Advisers Act”).

The Evolving Landscape of the Secondary Fund Market

Historically, LP-led transactions have dominated the secondary fund transaction market.

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