Our solvency opinions deliver a comprehensive analysis of a company’s balance sheet strength, its ability to repay debt, and the reliability of its cash flow.
As you prepare for a corporate transaction, trust Eton’s extensive experience in transaction valuations and advisory services to ensure thorough, confident due diligence—providing the clarity and assurance you need to move forward with certainty.
Eton Venture Services offers independent solvency opinions to boards of directors at private and public companies, attorneys, hedge funds, pension and private equity funds, family offices, and lenders.
As leveraged transactions and recapitalizations rise, the need for rigorous, objective analysis has never been more critical.
Our team works closely with yours to deliver a thorough solvency review, ensuring your transaction is sound and sustainable. Should your decision ever face scrutiny, Eton stands behind its opinion and will defend it in court if necessary—providing not just a service, but the assurance that your business is protected against future risks.
Unbiased, third-party analysis of a transaction to determine whether the deal terms are fair to the shareholders of the companies involved.
Eton offers robust, independent transaction opinions that bring fairness, transparency, and risk mitigation to your full deal process.
Our advisory services support you at every step of the M&A process, whether you’re buy-side or sell-side.
Our opinion helps companies avoid subjecting the firm to undue financial distress and potentially fraudulent transfers.
At Eton, we serve boards of directors at private and public companies, attorneys, hedge funds, pension and private equity funds, family offices, and lenders.
With our specialism in valuations and broad range of transaction experience, we can bring a confident objectivity to your decision-making process.
Eton works with many Attivo Partners clients and we are confident introducing Eton to our clients for their valuation needs. Eton is easy to work with, process oriented and reasonably priced. Eton listens to what our client needs, understands their business model, and provides a level and ease of communication that is rare among valuation firms. Eton’s old-school approach to customer service is refreshing! 
As a firm, Kruze Consulting is extremely confident in introducing Eton to our clients for valuation work. Eton is super responsive, reasonably priced, and they take customer service to impressive levels. Eton is a great partner for us and the companies we work with! 
I've seen a lot of 409As in my time at places like Uber, Canoo, and now The Routing Company. Eton is unquestionably leagues ahead of its competition. I've personally benefited from 5+ valuations performed by Eton. The Eton team's combination of legal background, experience working with boards of directors and all the audit firms is critical. I wouldn't waste a single moment working with anyone but Eton for valuation work.
The team at Eton is fantastic! Those guys cut their teeth as securities lawyers at premier firms in Silicon Valley so no matter how complex a situation we have presented to them, they are quick on the uptake, and they quickly produce great work. Plus, I can talk to the founder of the firm by simply picking up the phone. Eton truly exceeds our expectations! 
Working with Eton has been a fantastic experience, and they have been a great partner of ours. The team provides us with well-priced services, delivers quickly and is very responsive to our requests and questions, whether those communications are from our board of directors, our outside counsel, or from our financial statement auditors. 
I cannot thank Eton enough for delivering our business enterprise valuation so quickly. We had initially hired a different firm, who didn’t make any progress in three months. Eton provided a thorough and accurate report in five business days. They were amazing to work with, and I will refer them to everyone I know. I am so thankful for Chris and the entire Eton team.
As a fast-growing startup, we needed a valuation partner that could keep up with our dynamic needs. Eton has exceeded our expectations in every way. Their unique combination of legal expertise and financial know-how has made navigating the valuation process a breeze. We couldn't be happier with their service and will continue to rely on them as our go-to valuation firm.
Eton has been supporting us at Joby for more than a decade as we've grown from being a small startup through to the company that we are today.
As a CFO, I know that accurate and reliable valuations are crucial to our company's success. Eton Venture Services has been an invaluable partner in this regard, providing robust and defensible valuation calculations, analyses, and reports. Their deep industry knowledge and ability to navigate complex situations have enabled us to make informed decisions with confidence. Their third-party objectivity and close collaboration with our team and advisors have resulted in fully-documented analyses that comply with relevant valuation standards, mitigating risk and achieving the best possible outcome. Eton sets the benchmark for valuation services, and I highly recommend them to any CFO in need of accurate and reliable valuations.
As a startup founder, I have found Eton Venture Services to be an essential partner in helping me navigate the complexities of valuation. Their team's expertise and deep industry knowledge have enabled them to provide me with clear and comprehensive analyses that are crucial in making informed decisions for my company's future. They work closely with my team and advisors to ensure that all relevant standards are met and that our valuations are defensible. Their emphasis on documentation has been invaluable in mitigating risk and achieving the best possible outcome. I highly recommend Eton Venture Services to any startup founder in need of accurate and reliable valuation services.
As an investor in early-stage technology companies, I know that proper valuation is critical for a company's success. Eton Venture Services has been an essential partner for the companies in which I invest, providing comprehensive and reliable valuations that comply with relevant standards. Their deep industry knowledge and ability to navigate complex situations have been instrumental in helping these companies make informed decisions with confidence. Their commitment to exceptional service and responsiveness to our specific needs have been invaluable in maintaining compliance, mitigating risk, and getting it done right. Eton sets the benchmark for valuation services, and I highly recommend them to any company / investor in need of expert and reliable valuation services. 
Eton Venture Services plays a critical role in our valuation projects, providing deep industry knowledge, expertise, and comprehensive analyses on an aggressive timeline while demonstrating an unwavering commitment to exceptional service and compliance. Their personalized approach and trustworthiness have made them an invaluable partner in maintaining compliance and allowing us to focus on our core business. We are also impressed by Eton's responsiveness to auditor requests, further demonstrating their dedication to client success. Eton's rigorous methodologies and industry knowledge have exceeded our expectations and instilled complete trust in their valuations, allowing us to focus on our core business with peace of mind. 
I have had the pleasure of working with Eton on multiple occasions, and their exceptional service never fails to impress me. The team's ability to provide accurate, thorough, and audit-defensible valuations under extreme time constraints has been vital for our company. Their dedication to understanding our unique business needs and providing tailored solutions sets them apart from other firms. Eton is our go-to choice for valuation services.
As a Controller, I understand the importance of accurate and reliable valuations for our company's success. Eton Venture Services has been an invaluable partner, providing us with robust, defensible, and reliable valuation calculations, analyses, and reports. Their deep industry knowledge and ability to navigate complex situations have been instrumental in helping us make informed decisions with confidence. Their third-party objectivity and close collaboration with our team have resulted in fully-documented analyses that comply with relevant valuation standards, mitigating risk and achieving the best possible outcome. I highly recommend Eton Venture Services to any company in need of accurate and reliable valuations.
As a founder / CEO dealing with complex tax compliance valuation matters, I turned to Eton Venture Services for guidance. They played a critical role in our valuation project, providing expertise, deep industry knowledge, and comprehensive analyses on an aggressive timeline. Eton's commitment to exceptional service, responsiveness, and compliance sets a new standard. Their trustworthiness and personalized approach made them an invaluable partner in making sure that we comply with tax law. I highly recommend Eton Venture Services to any founder seeking accurate, reliable, and trustworthy valuations.
Chris and the Eton team are great to work with. They are responsive, thorough, and have deep industry knowledge. Our valuation report was completed on time, and I received status updates throughout the process. As a second time founder, I have worked with several valuation firms in the past - Eton Venture Services has been the best without a doubt.
We have been using Eton Venture Services for valuation services for years. Their team's remarkable combination of legal expertise, financial acumen, and deep industry knowledge enabled them to dissect the intricacies of our unique financial instruments with ease. Eton's services were quick and efficient, and their comprehensive analyses helped us make informed decisions. We look forward to a continued partnership in the future.
Eton Venture Services has been a trusted partner for our company's valuation needs. Their deep industry knowledge, expertise, and comprehensive analyses have been instrumental in helping us make informed decisions with confidence. Eton has consistently demonstrated their dedication to client success since day one of our partnership. Their rigorous methodologies and industry knowledge have exceeded our expectations and instilled trust in their valuations, allowing us to focus on our core business. I look forward to our partnership and working with them on future valuation needs.
As a Founder and CEO, it's important to have a reliable partner for our company's valuation needs. Eton Venture Services has been just that, letting us make informed decisions with confidence. Their excellent service and responsiveness have been crucial in maintaining compliance and mitigating risk, and their emphasis on documentation has helped achieve strong outcomes. I would recommend Eton Venture Services to any CEO in need of accurate and reliable valuations.
Eton Venture Services has been a game-changer for our company. Their team's ability to efficiently handle complex financial situations with ease and professionalism is unmatched. I've had the pleasure of working with Eton on multiple valuations, and I can confidently say that their dedication to providing top-quality service is unparalleled. We'll never look elsewhere for our valuation needs!
As the Interim CFO of Definitive Intelligence, a Web3-focused company, I required top-notch, independent valuation services and immediately turned to Eton for their unparalleled service and expertise. I have worked with Eton on several other companies, including Notion, Preset, and Convex, across various valuation needs at different companies and have consistently been amazed by their meticulous approach, swift delivery, and cost-effective solutions for all projects. Eton has always gone above and beyond, offering a unique combination of valuation expertise, legal insight, experience liaising with the C-suites and boards of directors, and seamless collaboration with us on any post-valuation questions. The unparalleled level of comprehensiveness, precision, and reliability in their valuation and advisory services sets them apart from the competition.
A solvency opinion is a formal evaluation conducted by independent financial experts to assess a company’s capacity to meet its financial obligations after a significant transaction, such as a merger, acquisition, or leveraged buyout.
The analysis reviews assets versus liabilities (the balance sheet test), where the subject company will be able to pay its debts when they mature, and the health of the companies cash flows.
Solvency opinions are essential in providing stakeholders with confidence in the financial soundness of the proposed transaction. They serve as a vital risk management tool, supporting corporate governance and informing decision-making processes.
When considering significant financial transactions, a solvency opinion becomes a critical element of due diligence. It is particularly relevant in leveraged buyouts, substantial dividend recapitalizations, major share repurchases, and complex mergers or spin-offs that materially affect the company’s capital structure.
Obtaining a third-party solvency opinion is a cost-effective way for a board of directors to fulfill its fiduciary duty during transactions.
This opinion helps mitigate risks, including potential personal liability for directors, by providing critical information on the company’s ability to remain solvent and pay dividends, thereby protecting against claims of fraudulent conveyance and breaches of fiduciary duty.
The solvency opinion process entails a rigorous financial analysis over several weeks (or shorter, but that comes at a higher fee).
Key stages include:
How long the process takes varies with transaction complexity.
It requires close collaboration between the advisory firm, company management, and legal counsel to ensure a thorough assessment of post-transaction financial viability.
Solvency opinions are independent, objective assessments that evaluate a company’s ability to meet its debt obligations and continue operations following a significant transaction or restructuring event. These opinions offer several benefits in the context of corporate restructuring, including:
