Powering Sound Decisions
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Corporate Finance
M&A Advisory
Financial Sponsors Group
Fairness and Solvency Opinions
Restructuring Advisory
Private Placement of Debt and Equity
Transaction Advisory Services
Dispute and Legal Management Consulting
Transaction Lifecycle
Our Professionals
Valuation
Financial Reporting Valuation
Tax Services
Transfer Pricing
Real Estate Services
Alternative Asset Advisory
Contents
What happens when you combine complex data with human insight? When the certainty of the numbers is mixed with the skepticism of a trusted advisor? When what you want to hear is tempered by what you need to know?
Diligence becomes scrutiny. Facts become insights. And customers become lifelong partners.
At Duff & Phelps, our combination of technical analysis and industry expertise is the difference that enhances value, helps our clients build businesses and gives them peace of mind when making important decisions.
Our disciplined thought process helps us dig deep to challenge assumptions. And we strengthen our analysis through years of real-world application.
In the end, it’s all about one thing: powering sound decisions.
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Valuation
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Financial Reporting Valuation
Companies turn to Duff & Phelps for an objective and independent assessment of value for
financial reporting purposes. Our technical knowledge of accounting and corporate finance,
combined with industry specialization and mastery of sophisticated valuation methodologies,
helps clients fulfill even the most complex requirements. Our valuations are fully defensible
and thoroughly documented to provide support upon scrutiny from regulatory bodies, auditors
and other stakeholders. Our professionals closely monitor the regulatory landscape and
consistently provide input to the FASB, IASB and other standard setting bodies as they
develop implementation guidance and new rules with valuation implications.
Services Offered
Purchase Price Allocation
Goodwill and Intangible Asset Impairment
Impairment of Long-Lived Assets
Intangible Asset Valuation
Business Valuation
Machinery and Equipment Valuation
Fresh Start Accounting Valuation
Contingent Asset and Liability Valuation
Stock Option Valuation
Financial Instruments and Derivative Valuation
Strategic Value Advisory
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Valuation
Services Offered
Tax Services
Our corporate tax professionals have the knowledge and expertise required to address
today’s changing tax and regulatory landscape, helping clients maximize savings
opportunities and capitalize on available benefits and incentives. Duff & Phelps provides
tax-related valuation and consulting services for a range of issues related to transactions,
compliance, planning and disputes. Our team is skilled at navigating complex tax issues,
developing and executing effective tax strategies, and defending valuation positions.
Duff & Phelps is a market leader in providing tax compliance, advisory services,
technology and business process outsourcing to manage all phases of the tax lifecycle —
from valuation and payments to appeals and negotiations with third parties.
Tax Valuation
Property Tax Services
Business Incentives Advisory
Unclaimed Property and Tax Risk Advisory
Tax Technology
Sales and Use Tax Services
Strategic Tax Advisory Review Services
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Global and Country Specific Transfer Pricing Documentation
OECD Policy Analysis and Implementation
Transfer Pricing Risk Assessment
Global Supply Chain Strategies
Advance Pricing Agreements (APAs)
Intercompany Loan Agreements
Cost Sharing/Cost Contribution Arrangements
Intangible Migration Strategies
Expert Services, Litigation and Audit Support
Services Offered
Transfer Pricing
Fulfilling complex transfer pricing requirements can be a daunting task for any
multinational organization. As experts in transfer pricing, Duff & Phelps provides an
independent and uncompromised perspective on all aspects — including compliance,
planning, controversy and implementation. Our internationally recognized transfer pricing
advisors have the technical expertise and industry experience necessary to reach
conclusions that can be understood, implemented and supported.
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Valuation
Real Estate Services
We are a market leader in real estate valuation and consulting to support acquisitions,
dispositions, financial reporting, taxation or financings. We do this work principally for
corporations, REITs, private equity firms and hedge funds. Our team combines technical
and industry expertise with local market knowledge, leveraging our scale and geographic
coverage to support clients wherever they have needs.
Real Estate Valuation and Consulting
Corporate Real Estate Consulting
Real Estate Restructuring
Cost Segregation
Real Estate Fairness and Solvency Opinions
REIT Roll-up Relative Valuations and Fairness Opinions
Management Company Internalization Transaction Valuations and Fairness Opinions
Underwriting Due Diligence
Real Estate Transaction Due Diligence
Services Offered
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Alternative Asset Advisory
Duff & Phelps provides supportable, transparent valuations of illiquid, difficult-to-value
investments and complex securities to issuers, investors, service providers and regulators. Our
Portfolio Valuation and Complex Asset Solutions services focus on the valuation of assets for
which no “active market” exists. Market participants turn to Duff & Phelps as both an objective
advisor and sounding board as they navigate an environment characterized by heightened
regulatory concern and increased investor scrutiny.
Services Offered
Portfolio Valuation
y Validation of Fair Value Methodologies
y Valuation of Illiquid Assets
y Development and Review of Valuation Policies and Procedures
y Response to Regulatory Inquiries
Complex Asset Solutions
y Valuation of Complex Securities
y Risk and Derivative Solutions
y Hedge Effectiveness
y Capital Structure Analysis
y Securitization Structuring Advisory
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Valuation
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Dispute and Legal Management Consulting
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Dispute Consulting
When facing disputes where litigation is a possibility or even a reality, attorneys and their clients
rely on Duff & Phelps’ seasoned experts. Our global team leverages technical and industry
expertise to clarify facts, quantify damages and communicate findings clearly, concisely and
objectively. Our dispute consulting services are designed to assist clients through all phases of
litigation, arbitration, mediation and trial. We also offer computer forensic, fraud and investigative
services for regulatory proceedings, internal investigations and litigation. Our team has provided
expert witness testimony in state, federal and international courts, before administrative and
regulatory agencies, and in alternative dispute resolution forums. Ultimately, we provide our
clients with objective analysis and practical advice that leads to sound business decisions.
Services Offered
Intellectual Property Disputes
Commercial and Shareholder Disputes
Fraud, Forensic and Investigative Services
Bankruptcy Litigation
Forensic Technology and Analytics
Business Insurance Consulting
M&A Purchase Price Disputes and Arbitration
Tax Litigation
Monitoring Trustee Services
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Dispute and Legal Managment Consulting
Legal Management Consulting
Duff & Phelps helps corporate legal departments, law firms and governmental agencies
improve business performance, spend management and organizational effectiveness on a
sustainable basis. Our professionals have extensive experience and deep knowledge of the
legal industry, especially its sourcing practices and underlying technologies. We leverage this
expertise to advise clients on best practices and to implement solutions that work for them.
Services Offered
Strategy and Operations
y Organization Assessment, Design and Development
y Workload and Sourcing Management
y Performance Management and Benchmarking
y Budgeting and Alternative Fee Arrangements
Information Governance and Lifecycle Management
Technology Planning and Implementation
y Matter Management and eBilling
y Document and Content Management
y Contract Management
y Intellectual Property Management
Litigation Readiness and Management
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Corporate Finance
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Buy-Side Advisory
Sell-Side Advisory
Capital Raising
M&A Advisory
Duff & Phelps’ M&A team has advised public corporations, financial sponsors, family-owned
businesses and other middle-market and growth companies on hundreds of sell-side,
acquisition and carve-out advisory transactions. Our teams in North America, Europe and
Asia seamlessly support both local and cross-border transactions. Our industry practices
provide dedicated coverage to the Consumer, Retail, Food, Restaurant, Energy, Healthcare,
Industrials and Technology sectors. Duff & Phelps consistently ranks in the top 5 for U.S.
middle-market transactions (<$250 million), according to Thomson Securities Data.
Services Offered
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Corporate Finance
Financial Sponsors Group
Duff & Phelps’ Financial Sponsors Group provides private equity, venture capital and hedge
funds with dedicated support and access to our corporate finance and valuation capabilities,
including M&A advisory, fairness opinions, transaction advisory services, capital raising,
restructuring and portfolio valuation, among others. Our footprint in North America, Europe
and Asia gives financial sponsors access to our middle-market deal flow, superior transaction
execution and industry expertise.
Services Offered
M&A Advisory
Fairness and Solvency Opinions
Transaction Advisory Services
Capital Raising
Restructuring
Portfolio Valuation
Financial Reporting Valuation
Tax Services
Complex Asset Solutions
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Fairness Opinions and Special Committee Advisory
Solvency Opinions
Commercially Reasonable Debt Opinions
ESOP/ERISA Advisory
Fairness and Solvency Opinions
Duff & Phelps serves as an independent advisor to boards of directors, special committees
and other fiduciaries, and in this capacity, we are a leading global provider of fairness
and solvency opinions in corporate transactions. Our team has particular expertise in
situations where advisor independence is paramount and scrutiny is elevated. Examples
of this include deals in which a banker stands to earn a substantial contingent fee, stapled
financings, going-privates, leveraged dividends, spin-offs, transactions involving heavy insider
participation and transactions between related parties. We are also confident providing
opinions in transactions involving minority interests, debt securities and transactions lacking
a market-clearing mechanism. Duff & Phelps consistently ranks at or near the top of the
league tables for U.S. fairness opinions.
Services Offered
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Corporate Finance
Restructuring Advisory
Duff & Phelps’ global restructuring team advises companies, financial sponsors, lenders,
creditors and other stakeholders involved in challenging situations and distressed
transactions. For decades, our practice has forged longstanding working relationships with
the most active stakeholders and investors in the distressed community. Our team includes
more than 200 restructuring and insolvency professionals in the U.S., Canada and Europe.
We offer financial advisory services such as distressed M&A, operational and financial
performance, and insolvency and refinancing. Also, in our UK, Irish and Canadian practices,
we act as the court officer appointed to oversee the restructuring process under relevant
legislation. We provide a unique, multidisciplinary approach that leverages our wide array of
services, including M&A and valuation, and we seamlessly support multinational transactions.
Services Offered
Corporate Restructuring
Distressed M&A and Special Situations
Debt Advisory
Formal Insolvency Appointments
Business Consulting
Independent Business Reviews and Financial Monitoring
Property Asset Management
Tax Arrears Solutions
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Acquisition Financing
Growth Capital
Recapitalizations and Restructurings
Leveraged and Managed Buyouts
Private Placement of Debt and Equity
Duff & Phelps has extensive experience in the placement of senior debt, subordinated and
mezzanine debt, convertible and equity-linked securities and private equity. For companies
seeking a range of financing alternatives, we arrange private placement of debt and equity
securities. Through our relationships with institutional and private investors, we have
developed a strong private placement track record by helping clients expand, complete
ownership transitions, recapitalize and acquire other companies.
Services Offered
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Corporate Finance
Transaction Advisory Services
Duff & Phelps advises strategic and private equity buyers, sellers and lenders on the
financial, tax, compensation and benefits, information technology and operational
aspects of the buy- and sell-side due diligence process. Our expertise includes complex
acquisitions and divestitures, refinancings, public filings and working capital disputes,
among others. We provide comprehensive due diligence and analytical services
throughout the deal lifecycle from decision support at origination to closing and beyond.
Our focus is on the value drivers of a business, deal issues, quality of earnings and cash
flows. Further, our flexible approach shows sensitivity to the client’s business needs,
ensuring seamless coordination with other advisors.
Services Offered
Financial Due Diligence
Tax Due Diligence
Information Technology Due Diligence
Distressed Investments Advisory
Portfolio Company Support
Segment Reporting Assistance
Working Capital Analysis
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Assessment of Strategic Alternatives
Investment
Transaction Consulting
y Transaction identification
y Buy-side / Sell-side advisory
y Industry and market scoping studies
y Financial projections and transaction modeling
Transaction Pursuit
y Financial due diligence
y Business valuation
y Fairness opinions
y Accretion/Dilution analyses
y Carve-out analyses
y Strategic tax planning
Change of Control Acquisition
y Purchase price allocation
y Valuation and structuring of contingent consideration, earn-outs and stock-based compensation
y Valuation of guarantees and indemnifications
y Tax valuations
Duff & Phelps delivers consistent transaction support from the first hello to the final handshake.
Reporting and Operating Performance Improvement
Financial and Tax Reporting
y Goodwill and intangible asset impairment testing
y Transfer pricing
y Tax legal entity valuations
y Unclaimed property reporting
Cash Flow Improvement
y Property tax consulting
y Real property cost segregation
y Real estate consulting
y Business incentives advisory
Financing
y Private placement of debt and equity
y ESOP and ERISA advisory
y Collateral valuation
Financial Distress
y Restructuring advisory
y Solvency opinions
y Fresh start accounting
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Exit Planning and Sale
Exit Preparation
y Sell-side M&A advisory
y Sell-side due diligence
Post Sale
y Dispute analysis/litigation support
y Post acquisition disputes
y Shareholder disputes
y Expert witness testimony
y Recurring asset valuations for financial reporting
Transaction Lifecycle
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Our Professionals
The professionals at Duff & Phelps bring a balance of deep technical skills and extensive industry expertise to every engagement. Our backgrounds are diverse, with degrees in accounting, applied mathematics, business, economics, engineering, finance, law, management science and statistics, among others. Additionally, our professionals stay current on the latest industry trends by maintaining involvement in relevant trade associations. We leverage our technical skills and decades of experience to deliver unvarnished, objective analysis and advice to clients, and serve as advisors to the world’s leading standard setting bodies on valuation issues and best practices.
Consumer, Retail, Food and Restaurants
Energy and Mining
Financial Services and Asset Management
Financial Sponsors
Healthcare and Life Sciences
Industrials
Media and Entertainment
Real Estate
Technology and Telecommunications
Industry Focus
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For more information please visit: www.duffandphelps.com
About Duff & Phelps
Duff & Phelps is the premier global valuation and corporate finance advisor with expertise in complex valuation, dispute consulting, M&A and restructuring. The firm’s employees serve a diverse range of clients from offices in North America, Europe and Asia. For more information, visit www.duffandphelps.com.
M&A advisory and capital raising services in the United States are provided by Duff & Phelps Securities, LLC. Member FINRA/SIPC. Pagemill Partners is a Division of Duff & Phelps Securities, LLC. M&A advisory and capital raising services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd., which is authorized and regulated by the Financial Conduct Authority.
Copyright © 2014 Duff & Phelps LLC. All rights reserved. DP140067