Transaction Opinions

Collaborating with our global colleagues and utilizing our deep M&A industry and capital markets transactional knowledge, we provide independent fairness, solvency and other transaction opinions to a diverse range of clients.

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  • 89%
    increase in opinions year-over-year
  • 234
    total transactions in 2020
  • 625+
    professionals aligned for your sucess

Objective Financial Advice supported by Deep Industry Expertise

As a part of the broader Valuations & Opinions Group, Lincoln’s fairness and solvency opinions practice provides best-in-class financial advice to GP’s, boards of directors, special committees, investors, trustees and other corporate decision makers on a broad range of transactions.

We differentiate our fairness and solvency opinions services by integrating industry sector and capital markets expertise from our M&A and Capital Advisory groups on every engagement.

Areas of Focus

Fairness Opinions

  • Cross-Fund/Related Party Transactions
    • Capital Raise by Successor Fund
    • Capital Raise with Significant Minority Investor
    • Mergers of Portfolio Companies
    • Debt for Equity Exchanges
    • Backstopped Rights Offerings
  • GP-Led Secondary Recapitalizations
  • Buy- or Sell-Side M&A
  • Going-Private Transactions
  • Recapitalizations (Minority / Majority)
  • Special Situations (i.e. Debt Exchanges)
  • Bond Indenture Affiliate Party Covenants

Solvency Opinions

  • Dividend Recapitalizations (Leveraged or Unleveraged)
  • Stock Buyback / Redemption Transactions
  • Spin-Offs / Split-Offs
  • Corporate Restructurings and Exchange Transactions

Board Advisory & Other Valuation Opinions

  • Commercially Reasonable Debt Opinions
  • Reasonably Equivalent Value Opinions
  • Board Advisory Valuation Opinions

The Lincoln Difference

Lincoln’s fairness and solvency opinions practice, housed in a global investment bank with highly active M&A and Capital Advisory Groups, brings real world experience and deep industry expertise to every one of its transaction opinion engagements.

Firm-wide collaboration with Global Mergers & Acquisitions Investment Banking Advisory, Capital Advisory, and Valuations & Opinions Groups deliver best-in-class, highly defensible opinions.

M&A Advisory

Valuations & Opinions Group

Capital Advisory Group

M&A industry bankers provide the deal team transactional expertise, extensive industry sector expertise and a comprehensive database of closed deals. Valuations bankers provide the deal team exceptional technical capabilities in valuing all types of securities across various valuation methodologies. Capital markets bankers provide the deal team unparalleled market expertise from raising growth equity, arranging debt financing and providing advisory services involving bespoke securities or restructuring transactions to solve capital structure challenges.

Perspectives & Publications

Halftime Report: How Dealmakers Can Make the Most of H2 2021

As global economies reopen post-pandemic, the investing community is busier than ever. Looking ahead to the second half of 2021, this is a prime moment for deals to get done.… Read More

Bloomberg | Direct Lending Growth Spurt Brings Calls for More Transparency

Originally published by Bloomberg on June 16, 2021. Richard Olson, Managing Director of the firm’s Valuations & Opinions Group, provides insight around the drive for more visibility on valuations with… Read More

Dividend Recap Activity Reaches All-Time High

What drives this activity and what risks do boards face? As the initial economic fallout from COVID-19 dissipated towards the end of 2020, the drought of dividend recaps in 1H20… Read More

Lincoln’s Middle Market Valuations Database Request

Every quarter, Lincoln’s Valuations & Opinions Group values between 1,600 to 1,800 privately held companies owned by private equity groups. At the end of every quarter Lincoln anonymizes and aggregates… Read More

Meet Our Senior Team with Valuations & Opinions Expertise