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 YoY
  • 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 opinion 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 & 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

European Insights Webinar, Spring 2021: Key Takeaways from our Capital Advisory, M&A, and Valuations & Opinions Groups

With one quarter of 2021 under our belts, Lincoln’s capital advisory, M&A and valuation & opinions professionals convened in a recent webinar to discuss current trends and their outlook for… 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

CFO Dive | Despite Gains in Hard-Hit Sectors, Be Realistic on Valuations

Originally published by CFO Dive on April 14, 2021. The outlook across sectors is better than expected, but forecasts must be achievable. When the pandemic began, CFOs tended to be… Read More

Software Financings and the Rise of the Non-Bank Lending Market

On Wednesday, April 14, 2021, Lincoln International hosted a webinar to discuss the latest trends in software financings. With a shift in the market towards non-bank lenders, software businesses that… Read More

Meet Our Senior Team with Valuations & Opinions Expertise