Valuation advisory services for JV formation and step acquisition

Valuation advisory services for JV formation and step acquisition

When a leading manufacturer of RVs partnered with a New Zealand tourism company to form a joint venture focused on bringing innovative technology-based solutions to RV customers, Stout performed the acquisition accounting of the newly formed company. We valued the intangible assets contributed by each party, including multiple developed and in-process technology platforms that focus on enhancing the enjoyment and safety of RV enthusiasts, trade names and trademarks, and various relationships.

A few years later, our client acquired control of the joint venture and an option to purchase the remaining noncontrolling interest in exchange for cash, preferred units, and the transfer of certain intellectual property usage rights. Due to the unique structure of the transaction consideration, we first valued the total invested capital, including the previously held equity interest, non-controlling interest in the acquiree, and employee appreciation rights liability. We then valued the intangible assets of the company, including developed technology, trade names and trademarks, and user / partner relationships.

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