VRC Leaders to Present at M&A Science Spring Summit
Patel, Sapnas and Mellen will delve into the state of valuation in 2024 and share insights into the current market environment.
Intangible Asset Valuation for Tax Purposes
Dive into the complexities of valuing intangible assets for tax purposes and unravel the differences between Fair Market Value and Arm’s-Length Standards.
The Practice and Potential Pitfalls of Using Non-Competes to Reduce Tax Exposures Associated with Golden Parachutes
The value of a non-compete may help lower the tax bill, but it needs to be appropriately valued to avoid potential scrutiny by tax authorities.
VRC Named Valuation Firm of the Year by M&A Turnaround Awards
Honored by The M&A Advisor Awards for Valuation Firm of the Year!
2024 Deals Outlook and Valuation Trends
In the year ahead, expectations are for transformative deals by increased cross-border activity, a positive private equity outlook, ESG considerations, global tax changes, and more.
Donald Jacobs
Mr. Jacobs has over 40 years of experience in performing business valuations across all industry segments. For more than 25 years, he has specialized in…
Molly Shepard
Ms. Shepard specializes in valuations of businesses and intangible assets for a variety of purposes, including fair value measurement, allocation of purchase price, impairment testing,…
VRC Receives Top M&A Advisor Honor: Valuation Firm of the Year 2023
Firm receives top industry honors for the eleventh consecutive year.
Estate Planning Valuation Considerations for Privately Held Businesses Preparing for Sale
Business owners preparing for a sale but still needing to execute their estate plan may see beneficial opportunities in using a common estate planning tool.
Tax and Financial Reporting Differences in an Allocation of Purchase Price
One of the key differences in valuations for tax vs. financial reporting lies in the definition of value.
Eugene Wu
Mr. Wu specializes in the valuation of business enterprise, intangible assets and liabilities for M&A, financial and tax reporting, and other strategic matters. He has…
Presiyan Lazarov
Mr. Lazarov has over 15 years of experience in valuation advisory spanning from pre-revenue start-ups to late-stage, middle market companies for a variety of purposes…
FASB Implements Improvements to Deferred Revenue Accounting in Acquisitions
New FASB guidance allows companies to apply the revenue recognition standard (ASC 606).
With $3.6 Trillion in Goodwill on the Books of U.S. Companies, Panelists Argue Attention Must Be Paid
The continued growth of goodwill raises the stakes for U.S. & international standards setters considering changes to the way companies account for the assets.
Tom Gottfried
Mr. Gottfried specializes in business enterprise, credit/debt instruments, equity, intangible asset and portfolio valuations. He has over 15 years of experience in planning, facilitating and…
Bryson Miller
Bryson Miller leads VRC’s Dallas office. He has provided numerous business, intangible asset, and equity valuations for a variety of purposes, including fair value measurements…
Anshumita Agrawal
Ms. Agrawal specializes in business enterprise valuations, purchase price allocations, impairment analyses and intellectual property valuations for financial reporting and tax purposes. Prior to VRC,…
What Is a Global Brand Worth?
Before making a purchase, acquirers should make sure a plan is in place to maximize the value of the acquired brand.
In Flux: The Current State of Goodwill & Impairment
As public companies enter the traditional fourth-quarter impairment testing period, two big question marks are hanging over the market…
New World Order Valuations
Developing valuations in a COVID-affected economy means taking new, altered views of a company along with making industry analysis de rigueur.
Rollover Equity for Private Equity Deals
Valuation considerations for rollover equity in PE platform acquisitions.
Top 10 Drivers to Enhance Company Value
Now is an ideal time for private company owners to focus on factors that will improve their business value in the event of an opportunity to sell.
Avoiding Valuation Surprises in M&A
Not every company uses the same method for valuation. Recently, VRC and one of its key partners shared insight into their valuation “secret sauce.”
Bulls vs. Bears vs. a Pandemic: How do Control Premiums Change?
In market downturns, can we anticipate the impact on control premiums? VRC analyzed the data.
Best Practices in Accounting for M&A Transactions (Part 2)
In the second episode of VRC’s video series, we discuss non-controlling interest in private equity deals and step acquisitions.
Cross-Border Tax Planning and Asset Transfers
How have in-house tax executives transitioned valuation considerations to mission-critical?
Best Practices in Accounting for M&A Transactions (Part 1)
In the first episode of VRC’s video series, we discuss determining the purchase price allocation in the deal, earnout structures, rollover equity, non-controlling interest in PE deals, and step acquisitions.
Podcast: Navigating Intangible Asset Valuation
Patel: In today’s environment where companies are more intangible asset-based rather than tangible asset-based, there’s probably an evolution that needs to happen in terms of how you value inventory.
Rollover Equity: Don’t Just Take It At Face Value
Several factors, including the rights and preferences of the rollover equity compared to the private equity sponsor’s shares and the sources of deal financing, have important implications for valuation.
The State of Goodwill & Impairments
A video discussion about corporate goodwill, goodwill impairment, and financial analysis techniques that aid in determining if a business combination is living up to performance expectations.
How to Win Your Fantasy Football League? Use Valuation Methodologies!
Want to crush your fantasy football championship? Take a page out of a valuation professional’s playbook.
Understanding Tax Amortization Benefit Considerations and the International Impact
Tax amortization benefit rules differ between countries, and they can also change over time.
Q1 2019 Economic Snapshots
Quick-hit visual summaries of the leading economic and financial indicators in major economic markets.
The Evolution of the Distributor Method
Originally considered a unique approach to determining the fair value of customer-related assets, the method has become mainstream methodology and evolved into a foundational analytical tool.
Contingent Consideration: Practical Pointers for Earnouts in Business Combinations
Contingent consideration can salvage a business combination when buyer and seller can’t agree on value, which is especially true in a frothy deal environment with high valuations and overpayment concerns.
Podcast: Tax Reform’s Impact on Valuation
Nearly a year since the Tax Cuts and Jobs Act was signed, there are still a number of questions about how to apply the new law but some areas, such as valuation, are beginning to get some clarity.
Personal Goodwill: Hunting & Bagging an Elusive, Tax-Advantaged Prey
Allocating a portion of proceeds from the sale of assets of a private company to the personal goodwill of a major shareholder can result in significant tax benefits to buyer and seller.
Podcast: Valuations in M&A
“We’ve come a long way in terms of determining how to calculate fair value.”
Oil & Gas
VRC provided a required valuation of tangible and intangible assets for a Master Limited Partnership (MLP) client in support of a purchase price allocation. There were no detailed fixed asset records; VRC needed to overcome significant data limitations.
Financial Sponsor: Hedge Fund
A hedge fund client held convertible note in a company that restructured outstanding debt. As part of restructure, the note was exchanged for two separate Term Loans.
Charitable Gift Valuations Before Business Sale
During robust M&A cycles, donor-advised funds tend to become popular philanthropic vehicles.
Kevin Hagemeier
Mr. Hagemeier has significant experience with public and private corporate needs including transactional consulting. He specializes in valuation engagements including intangible assets for business combinations,…
Introduction to a Refined Approach to Inventory Valuation
With limited authoritative guidance around inventory valuation best practices in business combinations, these modifications may improve the valuation process.
Energy
We were retained by an energy production company whose subsidiary acquired distressed energy assets from an energy & production company. In selecting a valuation methodology, we needed to consider the significant divergence in the enterprise value of the business versus the un-discounted value of the assets given the dramatic drop in commodity prices at the time.
Mercedes Falcon
Ms. Falcon has extensive experience in business valuation for financial and tax purposes, project management and corporate finance. Prior to joining Valuation Research, Ms. Falcon…
The Only Legal Requirement for Fairness Opinions
California Corporations Code Section 1203 requires an affirmative fairness opinion to provide target shareholders with greater protection in takeover transactions.
The Impact of the 2017 Tax Act on Business Valuation
Q&A: How is the Tax Cuts and Jobs Act impacting company value and valuation approaches?
Adriana De La Mora
Ms. De La Mora has extensive experience preparing valuations for financial reporting, tax, M&A, and strategic planning purposes utilizing discounted cash flow, guideline company, and…
What Directors Consider During Takeover Talks
What issues must board members contemplate when facing a competitor’s takeover offer?
Keys to Avoiding Failed M&A Deals
50 percent of M&A deals fail. How can a board avoid deal failure before an acquisition?
Technology
A PE-sponsored cloud based provider granted equity compensation incentives to executives. To comply with financial reporting requirements of Accounting Standards Codification 718 (ASC 718), the provider engaged VRC to determine the fair value of the issued units.
Consumer Products
A brand valuation that estimated the fair value of intangible assets acquired in a business combination was needed by a personal care product company for the sale of its branded and private label products.
Financial Sponsor: Private Equity
A technology company was purchased by large private equity investor. With the purchase price set, the new entity was capitalized with debt and three different types of equity securities.
Steven Schuetz
With over 30 years of experience in valuation, corporate finance and mergers and acquisitions, Steve Schuetz is a Senior Advisor to the firm. Mr. Schuetz…
Charles Sapnas
Mr. Sapnas is a practice leader specializing in the valuation of domestic and international businesses, intangible assets and liabilities for financial reporting and tax compliance…
Anthony Pumphrey
Mr. Pumphrey has over 15 years of experience in valuation engagements for public and private companies in support of business combinations (ASC 805), impairment testing…
Doug Peterson
Doug Peterson specializes in the valuation of business enterprises related to mergers and acquisitions, reorganizations, shareholder transactions, tax planning and compliance, and financial reporting. He…
Parag Patel
Mr. Patel supports the alternative investment community with quality valuations of illiquid and hard-to-value assets for BDCs, banks, credit funds, hedge funds and venture capital…
PJ Patel
Mr. Patel is co-CEO and senior managing director and is a member of our board of directors. Mr. Patel specializes in the valuation of businesses,…
Wes Nichols
Mr. Nichols specializes in the valuation of machinery and equipment for domestic and international clients. For over 15 years, he has prepared valuations for allocation…
Chris Mellen
Mr. Mellen has over 30 years of experience across a wide range of industries providing valuation services in support of tax planning and compliance, strategic…
Francis Mainville
Mr. Mainville specializes in the valuation of complex securities such as options, warrants, preferred and common stock in privately-held companies, management incentive plans (including those…
Vincent Flaherty
Mr. Flaherty specializes in valuations for financial reporting, incentive compensation, mergers & acquisitions, and tax restructuring/planning purposes. Mr. Flaherty has experience as a valuation advisor…
John Bintz
John Bintz started in the financial services industry in Chicago in 1987. He has specific financial service experience related to public finance, private equity, investment…
Mergers & Acquisitions
ASC 805 & ASC 350 make it critical for buyers & sellers to consider how a transaction impacts financial reporting
Tax and Dealmaking
A valuation partner who understands the role and responsibilities of the tax professional can bridge solutions to meet acquisition objectives.
Managing Deal Stakeholders
Valuations need to meet the requirements of all stakeholders – corporate development, financial reporting & tax. Can it be done?
Deal-Related Accounting Implications
The role of the CFO and the corporate controller’s group continues to grow and evolve into a critical position with the deal team.
Stakeholder Alignment
Whether it is the original deal price, accounting related issues, or tax-related issues, you really have to have all of those parties on the same page, speaking the same language and communicating. Valuation is at the center of that.
Goodwill Hunting: Elimination of Step 2 & the Implications for Public Companies
The FASB has sought to simplify the accounting for goodwill impairment for several years.
Pharmaceuticals
In order to comply with Accounting Standards Codification 815 (ASC 815), an early stage pharmaceutical company asked VRC to analyze the entire convertible callable note and determine the fair market value of each of the embedded derivatives.
FASB Issues Accounting Standards Update Clarifying the Definition of a Business
Within the ASU guidelines, there are two main thresholds to determine if an entity is a business.
Technology
A private equity sponsored cloud based provider of manager content, enterprise lending services granted certain management incentive units to participating executives, as compensation to incentivize management performance.
Preparing for FASB Changes to Revenue Recognition and Lease Accounting
FASB guidance addresses inconsistency and weakness in existing revenue recognition and lease accounting requirements.
Agribusiness
A leading commercial agribusiness client in Argentina was interested in selling their company, which was focused on cultivating and producing olive oil, table olives and wines.
VRG: Our International Capabilities
We invite you to meet our international affiliate team and learn more about the depth of our capabilities and expertise.
Financial Sponsor: Hedge Fund
A shareholder of a closely-held hedge fund was not receiving the appropriate level of compensation per agreement with the controlling interest shareholder.
Pre-Acquisition Valuation: Intangible Assets and Contingent Consideration
In several instances, the knowledge gained from valuation support in the due diligence phase results in modifications or cancellations of transactions.
Brands: Food & Beverage
A leading manufacturer of branded food products engaged VRC to estimate the fair value of certain intangible assets acquired in a business combination.
Golden Parachute Payments Under Section 280G
Golden parachute payments may be made to disqualified individuals contingent upon a change in control.
Consumer Products
A large multinational consumer products company acquired a South American company operating in the same space. VRC was engaged to estimate the value of the PP&E and intangible assets for financial reporting purposes.
Challenges in Valuing Contingent Consideration
ASC 805 provides guidance for whether it is contingent consideration or compensation.
PCAOB Comments Increase Auditor Scrutiny of Fair Value Measurements
Auditors have increased scrutiny around management forecasts which provide the foundation for valuation methods based on an income approach.
Pre-Acquisition Valuation Key Step in Due Diligence Process
Identifying and valuing intangible assets in advance of a purchase has become a valuable step in the due diligence process.
Professional Services
VRC was asked by the attorneys representing the seller to provide multiple common stock valuations on a retrospective basis that would withstand a Big 4 audit review under tight deal closing deadlines.