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Quist works with a wide variety of clients—public and private
companies, national and international businesses and emerging growth
to Fortune 500 companies—in a range of industries. Following
is a list of recent representative engagements that are examples
of our work in the areas of financial reporting, corporate finance,
tax compliance and litigation support.
Financial Reporting
- Delivered four Purchase Price Allocations (SFAS
141) for international acquisitions ranging in value between $20
and $50 million by a technology services company serving the energy
industry. Quist’s valuations were all reviewed and approved
by a Big 4 audit firm.
- Retained by an Italian technology firm to provide
financial reporting services for the acquisition of the U.S. operations
of a Japanese technology manufacturer. Quist’s valuation
was reviewed and approved by a Big 4 audit firm.
- Provided one Fairness Opinion, two Purchase Price
Allocations (SFAS 141), a valuation for a divestiture of a subsidiary
and annual Goodwill Impairment Testing (SFAS 142) for the past
three years for a publicly traded manufacturer in the semiconductor
industry with global operations and revenues of $400 million.
Quist’s valuations were reviewed and approved by three major
accounting firms.
- Tested a technology portfolio with a carrying
value of $10 million under SFAS 144 for impairment. Quist also
provided corporate planning valuations to the Board of Directors
of this publicly traded NASDAQ technology firm.
- Provided a Purchase Price Allocation (SFAS 141)
for the international acquisition of a wireless telecommunications
firm by a publicly traded U.S. company with a market cap of $200
million.
- Valued the international licensing agreements and
trade name for a national retail chain with over 200 stores involved
in a merger with total annual revenues greater than $1 billion.
- Provided the Purchase Price Allocation (SFAS 141)
for a publicly traded U.S. biotechnology equipment manufacturer
that acquired a privately held biotechnology firm. Quist’s
valuation was reviewed and approved by a Big 4 audit firm.
- Provided the Purchase Price Allocation (SFAS 141)
for a publicly traded U.S. industrial equipment manufacturer that
acquired a publicly held architectural equipment manufacturing
division. Quist’s valuation was reviewed and approved by
a Big 4 audit firm.
- Provided the Purchase Price Allocation (SFAS 141)
for a privately owned U.S. transportation service provider that
acquired three regional distribution networks from an industry
peer. Quist’s valuation was reviewed and approved by a Big
4 audit firm.
- Provided three separate Purchase Price Allocations
(SFAS 141) for a pre-IPO computer technology company that acquired
three separate privately held technology companies in order to
vertically integrate their operations. Quist’s valuations
were reviewed and approved by a Big 4 audit firm.
- Established the fair value of restricted stock
(SFAS 123(r)) for an international energy exploration company
with a market capitalization in excess of $2 billion.
- Allocated the purchase price of a critical manufacturing
asset for a highly-publicized emerging company that completed
a successful $200 million IPO in the first quarter of 2006.
Corporate Finance
- Established the purchase price for an emerging
hardware technology firm with revenues in excess of $100 million
in its acquisition of an emerging software development firm. Quist’s
analysis was used for establishing the strike price of stock options,
the purchase price and in the allocation of the purchase price
to tangible and intangible assets.
- Issued a buy-side Fairness Opinion for a publicly
traded U.S. company for the acquisition of a European wireless
telecommunications firm.
- Provided a Fairness Opinion to the Board of Directors
of a large regional retail chain involved in a $1 billion ESOP
transaction.
- Established the value of five divisions of a large
heavy-construction business located in the southeastern U.S. for
corporate planning purposes.
- Provided a sell-side valuation opinion to the
owners of a real estate transaction consulting company to be used
in its negotiations with an interested acquirer.
- Provided the valuation of two separate financial
contracts between a publicly traded aerospace equipment manufacturer
and a foreign bank, which held a large block of shares that the
company purchased and retired.
Tax Compliance
- Provided the valuation of an international trademark
portfolio for an international non-profit organization. The portfolio
included trademarks in 20 foreign countries. The purpose of the
valuation was to enable the non-profit to retain their 501(3)(C)
status.
- Established the value of American Deposit Receipts
(ADRs) held by a multi-billion dollar international entity for
tax planning purposes.
- Established the value of a residential homebuilder
with revenues of approximately $200 million for buy/sell and gift
tax purposes.
- Established the value of a national healthcare-staffing
agency with revenues in excess of $200 million for tax planning
purposes.
- Established the value of multiple business segments
of a large steel and pipe supplier for tax planning purposes.
- Established the value of multiple European subsidiaries
of a publicly traded telecommunication services provider with
revenues in excess of $1 billion for tax planning purposes. Quist’s
valuations were reviewed by two Big 4 audit firms.
- Established the strike price for incentive stock
options for an emerging growth firm involved in the defense industry.
- Provided a valuation of common stock for an internationally
renowned sports apparel company for the tax planning purposes
of its Japanese parent company.
- Provided the valuation of both common and preferred
stock for a struggling manufacturing company for estate tax purposes.
- Established the value of a national producer of
wholesale and retail food products with revenues in excess of
$1 billion for tax planning purposes.
IRC 409A
Through the end of the first quarter of
2006, Quist Valuation has completed more than twenty IRC 409A engagements.
The primary purpose of these engagements was to establish the price
at which common stock options are granted. Examples include:
- Established the price for common stock options
for a privately held information technology company that provides
network security business solutions with 2 rounds of preferred
equity and approximately $5 million in annual revenues.
- Established the price for common stock options
for a pre-revenue biotechnology company that develops early detection
diagnostic testing equipment that had more than five series of
preferred shares, each containing individual rights and conversion
provisions.
- Established the price for common stock options
for a privately held manufacturer of electronic data storage devices
designed for portable use with 2 rounds of preferred equity and
approximately $50 million in annual revenues.
- Established the price for common stock options
for a computer software designer that is a strategic design partner
of the Microsoft Corporation with approximately $2 million in
annual revenues and a single round of preferred equity.
- Established the price for both common stock options
and warrants for a specific preferred class of stock on a quarterly
basis for a pre-IPO, privately held computer network manufacturing
and design company with $100 million in revenues and two classes
of preferred stock.
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