1. Duff & Phelps
Duff & Phelps helps clients optimize their transaction and
investment strategies, and enhance fundamental company
value. Whether a company is contemplating a transaction,
allocating capital, addressing profitability issues, or
weighing alternative growth strategies, we provide advice
and management tools based on a rigorous valuation-
oriented perspective.
Duff & Phelps Strategic Value Advisory
professionals advise senior management
and boards of directors of public and private
companies that are evaluating transactional
alternatives, looking to raise capital, or
considering mergers, acquisitions, joint
ventures or divestitures. We also help
companies identify, value, and prioritize
decisions on business growth strategies,
capital allocation, and operational
improvements.
Strategic Value Advisory (SVA) solutions
address core strategic, operational and
transactional issues that impact the bottom
line and drive shareholder value. Our
valuation-focused professionals are
uniquely equipped to assist clients in
understanding and maximizing value by
applying industry experience, know-how in
corporate finance and capital markets,
proven valuation methods and powerful
tools and analysis.
Pre-Deal Advisory – maximize value of
transaction strategies
yy Industry and market scoping studies to
prioritize potential targets
yy Development of financial projections to
support transaction, licensing and capital
investment decisions
yy Valuations to assist management with
merger & acquisition, joint venture,
capital-raising, and divestiture strategies
yy Evaluation of the financial impacts of
alternative transaction structures
Strategic Valuation – maximize value of
business strategies
yy Identification of value-maximizing
business growth strategies
yy Analysis, evaluations and
recommendations for profitability
improvement strategies
yy Valuation and prioritization of capital
spending or R&D investments
yy Financial projections and financial models
to support strategy evaluation
Strategic Value
Advisory Services
Strategy
Value
Advisory
Strateg
ic
Maximize Value
Pre-Deal
Advisory
Strategic
Valuation
Transactions Operations
Strategy

2. Duff & Phelps
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 more than 1,000 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, capital raising and restructuring 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. DP140064
Duff & Phelps - Strategic Value Advisory
Pre-Deal Advisory:
Capital Raising and Restructuring of a
Global Firm.
To support a possible company restructuring,
we valued a pharmaceutical firm’s operating
companies in the U.S., Japan and Europe.
Our valuation was based on probability
weighted cash flow projections that
considered pipeline products’ probability of
technical success and approval, launch
timing, market size, share, time-to-peak, R&D
expenses and operating costs. The results
gave management a deep understanding of
the companies’ value, guided decisions on
the terms of the restructuring, facilitated
communications among the board and
stakeholders and helped our client raise
capital at an attractive valuation.
Pre-Deal Advisory: Paying the Right Price.
A mid-size entertainment industry player was
considering the acquisition of a company
with digital technology crucial to the future
of their core business. Our client was
uncertain about whether the high price the
target wanted was warranted. Our work
included projecting opportunity and share in
10 markets, some of which were unfamiliar
to our client. We also provided a quantitative
risk profile, highlighted the key value drivers
in the markets less familiar to the client, and
quantified the deal synergies. The Board of
Directors was “truly impressed … [this]
valuation helped put the Board at ease
regarding how much we should be willing to
pay.” Armed with this improved understanding,
our client closed the deal at less than 10% of
the seller’s original price.
Pre-Deal Advisory: Evaluating
Transaction Terms.
While negotiating the term sheet for an
acquisition of a private company, our client
needed assistance in understanding the
implications of various transaction
structures. We analyzed the financial
implications of the existing terms and of
alternate transaction structures. Our analysis
helped the client understand the impact of
the terms under negotiation and also helped
them renegotiate certain terms to make the
transaction more favorable.
Strategic Valuation: Profitability by
Product Line.
Our client, a retailer with hundreds of stores,
had recently experienced an unanticipated
decline in profit margins. They needed to
improve their understanding of profitability by
product line, to support strategic decision-
making in a politically charged environment.
We worked closely with the client’s Finance, IT,
and regional sales organizations to develop a
model of profitability by product line. We
received buy-in from all the key stakeholders,
allowing the client to avoid contentious political
battles. The client is now contemplating
appropriate strategic actions, with full support
from the CEO, CFO and the product managers.
Strategic Valuation: Developing a
Growth Strategy.
Our client, a mid-market family-owned
company that is #1 in the US in a niche
segment of the chemical industry, had grown
consistently over several decades, but recent
growth had stalled as their primary market
had reached a plateau. We helped the team
envision, flesh out and evaluate three growth
strategies with the potential to take the
company to the next level. We helped them
achieve consensus by pointing out the flaws
in some proposed growth strategies, allowing
the client to avoid some losing paths. The
executive team was energized and began
implementing the strategies. As a result,
revenues grew 35% over the next 2 years in
a difficult economic environment.
Strategic Valuation: Facility Strategy.
This landmark project for New Jersey’s Motor
Vehicle Commission (NJ MVC) has been
embraced by the press, agency officials, and
the public. We determined the best portfolio
of NJ MVC service facilities, including
investments in new, consolidated, expanded
and relocated facilities by:
yy Conducting quantitative market research
with over 7,500 customers, 100 facility
managers, and key agency officials
yy Developing credible estimates of population
growth, transaction volumes, costs and
customer service under each option
yy Addressing possible changes to business
processes, such as digital driver licensing
and adoption of web-based services
The MVC implemented many of our specific
recommendations for opening, closing and
consolidation of facilities, optimizing the use
of limited funds while reducing waiting and
drive times and improving facility quality.
Selected Engagements