Strategic decisions are required to drive disruptive, next-level business growth. Pursuing strategic growth through a business combination, leveraged buyout, divestiture or any other means also requires a qualified, third-party valuation firm that can help your board of directors support its deal-making decisions, mitigate risk, withstand scrutiny and improve shareholder transparency. VRC’s Fairness & Solvency Opinion practice group develops objective, expert analyses for our clients.

Recent Transactions

VRC is proud to share a select list of recently completed engagements and thank our clients for allowing us to serve their needs.

Solvency Opinion

Virgin Pulse has been recapitalized by Marlin Equity Partners. VRC provided a solvency opinion to the company in connection with the transaction.

Solvency Opinion

Vpay has been recapitalized by FTV Capital. VRC provided a solvency opinion to the company’s board of directors in connection with the transaction.

Solvency Opinion

Clarus Commerce has been recapitalized by Marlin Equity Partners. VRC provided a solvency opinion to the company in connection with the transaction.

Solvency Opinion

VRC provided a solvency opinion to the board of directors of Greenway Health in connection with a distribution.

Solvency Opinion

Tank Holding Corp. has been recapitalized by Olympus Partners. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

VRC provided a solvency opinion to the board of directors of GlobalLogic in support of a recapitalization.

Solvency Opinion

Granicus has been recapitalized by Vista Equity Partners. VRC provided a solvency opinion to the company's board of directors.

Solvency Opinion

Matrixx Initiatives has been recapitalized by Gryphon Investors. VRC has provided a solvency opinion to the company's board of managers in connection with the transaction.

Solvency Opinion

Leonard Green & Partners, L.P. and Ares Management, L.P. have recapitalized the company. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

VRC provided a solvency opinion to the board of directors of BJ's Wholesale Club.

Solvency Opinion

Prospect Medical Holdings has been recapitalized by Leonard Green & Partners, LP. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

CORA Physical Therapy has been recapitalized by Gryphon Investors. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Mister Car Wash has been recapitalized by Leonard Green & Partners, LP. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

The company acquired and recapitalized Novusolutions by Vista Equity Partners. VRC provided a solvency opinion to the board of directors.

Solvency Opinion

VRC provided a solvency opinion to the board of directors of Purchasing Power, LLC in support of a recapitalization.

Solvency Opinion

VRC provided a solvency opinion to the board of directors of FIMC in support of a debt recapitalization.

Solvency Opinion

VRC provided a solvency opinion to the board of directors of Fender Musical Instruments Corporation in support of a recapitalization.

Solvency Opinion

Smile Brands has been recapitalized by Gryphon Investors. VRC provided a solvency opinion to the company’s board of directors in connection with the transaction.

Solvency Opinion

Orchid Underwriters has been recapitalized by Gryphon Investors. VRC provided a solvency opinion to the company’s board of directors in connection with the transaction.

Solvency Opinion

Sparta Systems has been recapitalized by Thoma Bravo. VRC provided a solvency opinion to the board of directors.

Solvency Opinion

VRC provided a solvency opinion to the board of directors of EagleView Technology in support of a recapitalization.

Solvency Opinion

VRC provided a solvency opinion to PetSmart, Inc. in connection with a dividend of Chewy, Inc. equity.

Solvency Opinion

ECG Management Consultants has been recapitalized by Gryphon Investors. VRC provided a solvency opinion to the company's board of managers in connection with the transaction.

Solvency Opinion

Return Path has redeemed Vista Equity Partners' shares in the company. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Jensen Hughes has been recapitalized by Gryphon Investors. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

SailPoint has been recapitalized by Thoma Bravo. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Frontier Airlines has paid a dividend to Indigo Partners. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Desserts LLC has been recapitalized by Gryphon Investors. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Accruent, a Genstar Capital portfolio company, has amended, extended, and expanded its credit facilities to reflect its recent growth and add to its acquisition capacity. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Mu Sigma, Inc. has been recapitalized by its investors. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

The company acquired Novusolutions and has simultaneously been recapitalized by Vista Equity Partners. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

USIC has been recapitalized by Leonard Green & Partners, L.P. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

iPipeline has been recapitalized by Thoma Bravo. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Sandvine Corporation has been recapitalized by Francisco Partners. VRC provided a solvency opinion to the company’s board of directors in connection with the transaction.

Solvency Opinion

MRI Software has been recapitalized by GI Partners and TA Associates. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

EZE Software Group paid a dividend to Convoy Diamondback Holdings, LP and Convoy Diamondback Holdings II, LP. VRC provided a solvency opinion to the board of directors.

Solvency Opinion

VRC provided a solvency opinion to the board of directors of PEC Premier Safety in support of a recapitalization.

Solvency Opinion

BJ's has been recapitalized by Leonard Green & Partners, L.P. and CVC Capital Partners. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Fairness and Solvency Opinion

VRC provided a solvency opinion in connection with a leveraged recapitalization. We also provided a fairness opinion in support of the sale of the company.

Solvency Opinion

Autotask has been recapitalized by Vista Equity Partners. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

GHX (Global Healthcare Exchange) has been recapitalized by Thoma Bravo. VRC has provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Mitratech has been recapitalized by TA Associates. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

CVC Capital Partners and Leonard Green & Partners, L.P. have recapitalized the company. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

Truco Enterprises (On the Border® retail products) has been recapitalized by Insignia Capital Group. VRC provided a solvency opinion to the company’s board of directors in connection with the transaction.

Solvency Opinion

2020 has been recapitalized by Vector Capital. VRC provided a solvency opinion to the company's board of directors in connection with the transaction.

Solvency Opinion

DealerSocket has been recapitalized by Vista Equity Partners. VRC provided a solvency opinion to the company’s board of directors in connection with the transaction.

Solvency Opinion

DLC has been recapitalized by Gryphon Investors. VRC provided a solvency opinion to the company’s board of directors in connection with the transaction.

Fairness Opinion

Marlin Equity Partners has merged Whitlock with AVI-SPL. VRC provided a fairness opinion in connection with the transaction.

Fairness Opinion

VRC provided a fairness opinion to the board of directors of Industrial Services of America Inc. in connection with a transaction with River Metals Recycling LLC.

Fairness Opinion

VRC provided a fairness opinion to the board of directors in connection with the acquisition of WatchGuard, Inc. by Motorola Solutions, Inc.

Fairness and Solvency Opinion

VRC provided both a fairness opinion and solvency opinion for the benefit of KCI’s board of directors and its lenders in connection with a recapitalization. Kinetic Concepts, Inc. is a global provider of therapeutic specialty beds and devices.

Fairness Opinion

VRC provided a fairness opinion to the board of directors of AmSafe, a portfolio company of Berkshire Partners and Greenbriar Equity Group LLC, in connection with the sale of the company to TransDigm Group Inc.

Fairness Opinion

VRC provided a fairness opinion to the board of directors of Covalence Specialty Materials Holding Corp.

Fairness Opinion

VRC provided a buy-side fairness opinion to the company's board of directors in connection with its acquisition of Storage Financial Europe.

Fairness Opinion

VRC advised the Farmer Brothers’ board of directors in connection with the acquisition of Boyd's Coffee.

Fairness Opinion

VRC provided a fairness opinion to the Trustees of the Indenture and the Board of Directors of Granite Broadcasting related to the sale of WPTA-TV in Fort Wayne, Indiana.

Fairness Opinion

VRC provided a fairness opinion to GNC in connection with the sale of preferred shares to prospective investors.

Fairness Opinion

VRC provided a fairness opinion to Gradient Resources in connection with a stock transaction.

Fairness Opinion

K1 Ventures acquired a majority interest in Helm Holding Corporation; VRC provided a fairness opinion to the board of directors of Helm Holding Corporation.

Fairness Opinion

VRC provided a fairness opinion in connection with a corporate transaction.

Fairness Opinion

VRC provided fairness opinions in connection with an all-stock merger of two wholly-owned subsidiaries of Huntsman Corporation for the benefit of the board of managers of each of the respective subsidiaries.

Fairness Opinion

iAP Worldwide Services completed a comprehensive recapitalization; VRC provided financial advisory services and a fairness opinion to the board of directors.

Fairness Opinion

VRC completed a fairness opinion for the Infinity Healthcare, Inc. ESOP in connection with its sale to Emcare, Inc., a subsidiary of Envision Healthcare Corporation.

Fairness Opinion

We provided a fairness opinion to the board of directors of Intelligrated and to the respective advisory boards of the private equity firm.

Fairness Opinion

VRC provided a fairness opinion in connection with Kimpton Hotel & Restaurant Group's restructuring.

Fairness Opinion

VRC provided a fairness opinion to support the sale of substantially all of the assets of Meta TV to an affiliate of Comcast Corporation and Cox Communications, which was addressed to the board of directors and the special committee of the board.

Fairness Opinion

VRC rendered a fairness opinion to the board of directors of Milacron in connection with a refinancing of the company.

Fairness Opinion

POET consolidated nine ethanol plants into POET Biorefining, LLC. VRC provided a fairness opinion to the holders of equity interests in POET Biorefining, LLC.

Fairness Opinion

VRC provided a fairness opinion to ONE Industries and Transom Capital in connection with the acquisition of Bravo Sports.

Fairness Opinion

VRC provided a fairness opinion in connection with a change of control transaction.

Fairness Opinion

VRC acted as the financial advisor to the board of directors of American Heritage Arms, Inc., owner of Remington, and issued a fairness opinion on the acquisition of Bushmaster Firearms.

Fairness Opinion

VRC provided a fairness opinion in connection with the recapitalization of Resun Holdings, Inc. for the benefit of the board of directors of Resun and its financial investor.

Fairness Opinion

VRC provided a fairness opinion in connection with Scripps’ sale of United Media Licensing to Iconix Brand Group.

Fairness Opinion

The plastics division of Trostel SEG, Inc., a subsidiary of Albert Trostel & Sons, Co., has been acquired by Dickten & Masch, LLC; VRC provided a fairness opinion to the boards of directors of Albert Trostel & Sons, Co., and Trostel SEG, Inc. in connection with the transaction.

Fairness Opinion

VRC provided a fairness opinion for Turning Point's acquisition of Vapor Supply.

Fairness and Solvency Opinion

VRC provided both a fairness and solvency opinion for the board of directors in connection with various strategic alternatives considered by the board to maximize shareholder value.

Fairness Opinion

VRC rendered a fairness opinion to the board of directors of Vought Aircraft Industries, Inc. and its financial investor advisory committee in connection with its acquisition of The Aerostructures Corporation.

VRC has issued over 1,000 fairness, solvency, and capital adequacy opinions for transactions ranging in value from $10 million to $10 billion in market capitalization.

Partner with the VRC Team.

Partner with the VRC Team.

VRC is one of the first providers of expert opinions, assisting boards in fulfilling their duties since 1980.

+ Connect with us today

VRC Perspective: Solvency Opinions

VRC Perspective: Solvency Opinions

Board members can demonstrate that they have fulfilled their fiduciary duties in dividend recapitalization transactions by obtaining opinions from third-party solvency opinion experts.

+ Approving Leveraged Dividend Recapitalizations

VRC Perspective: Receiving Dependable Fairness Opinions

VRC Perspective: Receiving Dependable Fairness Opinions

Boards of directors can improve the likelihood of receiving a more defendable fairness opinion by making specific inquiries of their opinion provider.

+ Boards Must Rely On a Strong, Defensible Opinion

VRC Perspective: Relying on Solvency Opinions

VRC Perspective: Relying on Solvency Opinions

Company boards often seek third-party solvency opinions in connection with leveraged transactions to assist them in fulfilling their board duties.

+ Considerations for Company Boards

Solvency Opinion Critical for Dividend Recapitalizations

Solvency Opinion Critical for Dividend Recapitalizations

VRC discusses the requirements for a solvency opinion and why a solvency opinion is critical, particularly for dividend recapitalizations.

+ Watch the Video