Fairness Opinions and Valuations

TM Capital provides fairness opinions and valuations to public and private companies in connection with mergers, acquisitions and other transactions. These opinions provide client companies and boards of directors with a professional, independent analysis of complex transactions. The firm’s capabilities in providing opinions and valuations include:

		Analyzing the company and transaction utilizing a broad range of sophisticated valuation methodologies
		Preparing thoroughly researched and detailed presentations for clients which substantiate the opinion or valuation
		Providing supporting testimony for the opinion or valuation

TM Capital's experience in fairness opinions and valuations is illustrated by the following assignments:

Smith & Wollensky Completes Sale TM Capital advised the Special Committee of the Board of Smith & Wollensky (NASDAQ) on the Company’s $98 million sale to a consortium led by Bunker Hill Capital, L.P. Review Transaction	Oceanaire Completes Equity Financing TM Capital advised the Special Committee of the Board of Directors of The Oceanaire, Inc. on the Company’s private placement to existing investors led by Clarion Capital Partners Review Transaction
Benihana Declares Stock Dividend TM Capital advised the Board of Directors of Benihana Inc. (NASDAQ) on the Company’s three-for-two stock split in the form of a Common stock dividend paid to both Common and Class A stockholders Review Transaction	B&G Completes Recapitalization TM Capital advised the Special Committee of the Board of B&G Foods (NYSE) on the recapitalization and repurchase of its Class B common stock in connection with its $208 million IPO of Class A common stock Review Transaction
BioLok Acquired by Healthpoint Capital TM Capital rendered a fairness opinion to the Board of Directors of BioLok International Inc. (OTC) with respect to the sale of BioLok to Healthpoint Capital Review Transaction	Wilshire Completes Self-Tender Offer TM Capital advised Wilshire Enterprises, Inc. (AMEX) in connection with its tender offer for its common stock Review Transaction
Industrial Defender Recapitalization TM Capital advised the Special Committee of the Board of Directors of Industrial Defender, Inc. on the Company’s recapitalization from existing investors Review Transaction	Kodak Divests Light Management Films TM Capital advised Eastman Kodak Company (NYSE: EK) on the divestiture of its Light Management Films business to Rohm and Haas Company (NYSE:ROH) Review Transaction
Reinhold Acquired by Jordan Company TM Capital advised Reinhold Industries, Inc. (NASDAQ) in its sale to The Jordan Company for a value of approximately $41.3 million Review Transaction	Omega Completes Share Repurchase TM Capital was retained by the Board of Directors of Omega Protein (NYSE) to act as financial advisor in connection with Omega’s $47.5 million share repurchase from Zapata Corporation (NYSE) Review Transaction
Atlantic Acquired by J.F. Lehman TM Capital assisted the Board of Directors of Atlantic Marine Holding Company in the evaluation of the acquisition by J.F. Lehman & Company Review Transaction	Reinhold Declares Special Dividend TM Capital advised Reinhold Industries, Inc. (NASDAQ) in declaring a $19.6 million shareholder distribution Review Transaction
National Vision Acquired by Berkshire TM Capital advised National Vision, Inc. (AMEX) in its sale to Berkshire Partners and its simultaneous acquisition of Consolidated Vision Group in transactions with an aggregate enterprise value of $190 million Review Transaction	Nautilus Acquires PEARL iZUMi® TM Capital acted as an advisor to the Board of Directors of Nautilus Inc. (NYSE) in connection with its $74 million acquisition of PEARL iZUMi USA Review Transaction
Reinhold Declares Special Dividend TM Capital advised Reinhold Industries, Inc. (NASDAQ) in declaring a $38 million shareholder distribution Review Transaction	Methode Completes Recapitalization TM Capital advised Methode Electronics, Inc. (NASDAQ) in completing a $25 million share repurchase which recapitalized Methode into a one-share, one-vote structure Review Transaction
Riverside Completes Debt-Equity Exchange TM Capital advised the Riverside Group, Inc. (OTC) regarding an exchange of $13.9 million of indebtedness for an equity interest in Wickes Inc. Review Transaction	Immucor Goodwill Valuation Analysis TM Capital provided Immucor, Inc. (NASDAQ) with an analysis of goodwill balances for potential impairment pursuant to FAS 142 Review Transaction
Electronics Boutique Divests BC Sports TM Capital assisted Electronics Boutique (NASDAQ) in completing the sale of its BC Sports Collectibles division to Sports Collectibles Acquisition Corp. Review Transaction	TAB Products Co. Sold to HS Morgan TM Capital assisted TAB Products Co. (AMEX) in its $32 million sale to HS Morgan Limited Partnership Review Transaction
CompuCredit Corporation TM Capital provided financial advisory services to CompuCredit Corporation (NASDAQ) Review Transaction	Fedders Completes Recapitalization TM Capital assisted Fedders Corp. (NYSE) in a recapitalization converting its two publicly traded classes of stock into a single voting class of common stock Review Transaction
MCM Capital Closes Equity Financing TM Capital advised MCM Capital Group (OTC) regarding the completion of the placement of Participating Convertible Preferred Stock Review Transaction	Hypertherm, Inc. Establishes ESOP TM Capital assisted Hypertherm, Inc. in establishing an Employee Stock Ownership Plan and arranged $40 million of senior debt financing Review Transaction
SteriGenics Acquired by IBA TM Capital completed the sale of SteriGenics International, Inc. (NASDAQ) to Ion Beam Applications s.a. of Belgium for $214 million in cash Review Transaction	IFR Systems Acquired by Aeroflex TM Capital assisted IFR Systems, Inc. (NASDAQ) in its $60 million sale to Aeroflex Inc. (NASDAQ) through a cash tender offer Review Transaction
CIDCO, Inc. Acquired by EarthLink, Inc. TM Capital assisted CIDCO, Inc. (NASDAQ) in its sale to EarthLink, Inc. (NASDAQ) through cash tender offer and follow-on merger Review Transaction	Acclaim Completes Senior Financing TM Capital advised Acclaim Entertainment (NASDAQ) in transactions relating to the amendment of its $30 million credit agreement Review Transaction