Recent

Publicly traded provider of technology-based solutions for government and commercial customers – including communication products and systems, intelligence solutions, and managed services

We assisted with the following projects:
  • Purchase price allocation for a multi-billion-dollar acquisition for reporting associated with ASC 805. Our analysis included the valuation of intangible assets, fixed assets, real estate, inventory, and deferred revenue for over twenty separate acquired subsidiaries.
  • Impairment testing associated with goodwill and long-lived assets for a major reporting unit as part of reporting for ASC 350 and ASC 360. This project involved the analysis of intangible and fixed assets as part of Step Two goodwill impairment procedures – and included the valuation of developed technology, customer relationships, and a trade name.
  • Valuation of over 30 interests in a variety of domestic and international subsidiaries – including operating entities, companies which own intellectual property, and sales-focused entities – for tax planning and reporting associated with corporate restructuring.
  • As part of the divestiture of certain operations, valuation of various businesses to assist with the allocation of goodwill at various dates.

Financial reporting projects reviewed by Ernst & Young

Software-as-a-service company which had a Q4 2016 IPO

We assisted with the following projects:
  • Valuation of common stock in conjunction with ASC 718 / Section 409A reporting (at various valuation dates prior to the planned IPO).
  • Valuation of warrants with anti-dilution triggers and debt with change-in-control provisions.

Reviewed by PricewaterhouseCoopers

National operator of membership-based primary care practices

We assisted with the valuation of intangible assets related to the acquisition of a company which developed a health-related, mobile app. Assets valued included developed technology, customer relationships, non-competition agreements, and a trade name.

Reviewed by PricewaterhouseCoopers

Risk analytics firm

We provided consulting to the company’s owner and a potential investor to assist with negotiations related to the sale of an equity interest in the business.

Publicly traded data analytics and software-as-a-service company

We assisted with the following projects:
  • Analysis of complex equity awards requiring sophisticated valuation techniques, including Total Shareholder Return equity awards using Monte Carlo simulations.
  • Analysis of values associated with over ten reporting units as part of goodwill impairment testing.
  • Valuation of an earn-out associated with a pending division divestiture for tax reporting purposes.

Reviewed by KPMG

Privately held, family winery based in Sonoma County

We are working on a valuation analysis to assist with a management buyout of the company.

Private equity firm specializing in investments in middle market companies

We assisted with the valuation of intangible assets related to three acquisitions for reporting related to ASC 805 (Private Company Council option). The acquired companies were involved in providing research and analysis associated with specialized financial and legal data. Assets valued included trade names/brands and content-related intellectual property.

Reviewed by BDO USA, LLP

Provider of retirement plans, consulting services, and trust services

We assisted with the valuation of intangible assets (including customer relationships and trade names) for several acquisitions as part of reporting for ASC 805. Purchase prices for the acquisitions ranged from approximately $25 million to over $90 million.

Reviewed by Burr Pilger Mayer

Publicly traded provider of staffing and consulting services

We assisted with the valuation of intangible assets associated with the acquisition of a business intelligence consulting firm. Assets valued included customer relationships, non-compete agreements, and a trade name.

Reviewed by PricewaterhouseCoopers

Privately held mobile gaming company with studios in several cities

We assisted with the valuation of an earnout/contingent consideration and intangible assets associated with the acquisition of a mobile game developer. Our analysis associated with the earnout considered a Monte Carlo framework, and intangible assets valued included developed technology, in-process research and development, a user base, a non-compete agreement, and a trade name.

Reviewed by PricewaterhouseCoopers

Privately held portfolio of wineries generating over $100 million in revenue

We assisted with the following projects:
  • Valuation modeling to assist management with evaluating the impact of a potential acquisition.
  • Valuation of the company’s common stock for reporting associated with Section 409A / ASC 718.
  • Goodwill impairment testing calculations.

Goodwill impairment calculations reviewed by Moss Adams

Minority shareholders with interests in a privately held janitorial company

As part of a dispute associated with the company’s planned repurchase of the clients’ shares, we assisted with valuing their subject interests. Based on our analysis, the clients were able to successfully negotiate a repurchase based on a value which was almost two times greater than the company’s initial purchase offer.

Private equity-owned pharmaceuticals company

We assisted with the following projects:

  • Purchase price allocation work for three acquisitions for reporting related to IFRS 3. Purchase prices ranged from $90 million to over $2 billion, and our analyses involved the valuation of intangible assets, inventory, and contingent consideration.
  • Impairment testing related to over 20 previously acquired products.
  • Goodwill impairment testing related to three cash generating units (one based in the U.S. and two based in Europe) for reporting related to IAS 36.

Reviewed by Deloitte & Touche

Developer of an online platform to develop, deploy, and host websites

We valued intellectual property which was contributed by an executive as part of his E-2 Visa investment requirements. Our analysis was successfully approved by the U.S. consulate in the European country which reviewed the client’s Visa application.

Private company specializing in management training and performance enhancement

We assisted the client with valuation analyses for negotiations with a potential acquirer (an international publicly traded company). Clairent was asked to assist target management after it received a low, initial offer from the acquirer. Within 24 hours of presenting Clairent’s valuation models and value proposition to the acquirer (which included an emphasis on the value of certain IP developed by the client), the initial offer for the client’s business was tripled.

Publicly traded portfolio of wineries

We assisted with the valuation of intangible assets related to the acquisitions of two closely-held wineries, including brands, distributor relationships, and customer (consumer) relationships. For one acquisition, we also assisted management with issues associated with the valuation of inventory (both bottled and bulk wine).

Reviewed by Moss Adams

Producer and distributor of tea products

We assisted with the following projects:

  • Valuation of intangible assets associated with the company’s acquisition by a private equity firm. Assets valued included the company’s brand, channel and customer relationships, and proprietary tea recipes/blends.
  • Consulting and valuation associated with an executive’s equity grants.

Developer of cancer treatment systems

We assisted with the following projects:
  • Valuation of certain assets (including technology, customer relationships, and a trade name) as part of fresh start accounting related to a post-bankruptcy reorganization of the company.
  • Valuation of the company’s common stock for reporting associated with Section 409A / ASC 718.

Reviewed by Singer Lewak

Local surgical practice

As part of a planned merger with another medical practice, we developed a detailed business valuation which was utilized for both tax and Stark Law-related compliance and documentation.

Acute care hospital

We assisted with the following projects:
  • Analysis of goodwill for one reporting unit utilizing a qualitative assessment framework.
  • Valuation of intangible assets related to the acquisition of an imaging center.

Reviewed by Moss Adams

Owner of a healthcare services-related trade name

We assisted with valuing the subject trade name to assist the client with negotiations with a potential buyer.

Publicly traded designer, manufacturer, and distributor of agricultural and infrastructure maintenance equipment

We assisted with the following projects:
  • Purchase price allocation work for an acquisition for reporting related to ASC 805. Our analysis included the valuation of the business enterprises and certain assets for four separate acquired divisions.  Assets valued included inventory, fixed assets, customer relationships, trade names / trademarks, and patents / technology.
  • Consulting to assist management with assessing goodwill impairment for over 20 reporting units.

Reviewed by KPMG

Regional bank

We valued the trademark assets associated with a major sporting event to assist the bank with the evaluation of loan collateral.

Private equity-owned digital media provider

As part of an acquisition, we valued archival imagery for financial reporting purposes.

Reviewed by Deloitte & Touche

Provider of supply chain solutions for Fortune 100 companies

We prepared several valuation scenarios to assist the client with planning and negotiations related to a lawsuit involving a minority interest in a closely held business.

Law firm

Valuation consulting related to a lawsuit involving a minority interest in a business which designs and sells specialty clothing and outdoor gear. Our analyses were utilized as part of settlement negotiations related to the case.