What this service is
RwE Growth Partners provides independent fairness opinions to boards and special committees evaluating proposed transactions. Each engagement begins with a documented independence and conflict review and is run by partners.
Fairness opinions are prepared on the basis of a defined engagement scope, agreed methodology, and the information provided by the parties. Conclusions are subject to independent internal review before issuance.
We do not act as a securities dealer, legal counsel, or auditor. Where the engagement requires, work is coordinated with those professionals.
When clients engage RwE
Related-party transactions
Transactions involving insiders, controlling shareholders, or affiliates where independent financial advice supports the board's review and any disclosure obligations under MI 61-101 or analogous regimes.Going-private transactions
Take-private mergers, plans of arrangement, and squeeze-out transactions where minority shareholders are entitled to independent financial advice and a fairness opinion is part of the disclosure package.Shareholder votes on a transaction
Acquisitions, dispositions, recapitalisations, or amalgamations being put to a shareholder vote, where the board wants independent input into its recommendation.Contested or competing transactions
Hostile bids, interloper bids, or competing offers where the board needs independent analysis of the financial terms across competing alternatives.Special committee mandates
Mandates to a special committee to evaluate a transaction at arm's length from interested directors. RwE is retained directly by the committee, with independence reviewed at intake.Board fiduciary review
Review of a proposed transaction in support of the board's discharge of its fiduciary duties — even outside transactions that strictly require an opinion under securities law.
What we deliver
Independence and conflict review
Documented assessment of independence and any disclosable conflicts.Financial analysis
Discounted cash flow, comparable company, and comparable transaction analyses.Premia and sensitivity analyses
Implied-premium and downside / upside scenario work that contextualises the fairness conclusion against comparable transactions.Written fairness opinion
Formal opinion letter delivered to the board or special committee, drafted in a form suitable for filing or public disclosure.Board / special committee presentation
Methodology, key inputs, conclusions, and Q&A delivered live to the committee at the meeting where the opinion is rendered.Engagement-file documentation supporting professional review
Engagement memo, analyses, and conclusions retained at the standard required for independent and regulatory review.
How we work
Independence review
Conflicts and independence assessed and documented before scoping.
Engagement scoping
Written engagement letter defining scope, fee structure, and deliverables.
Information request and analysis
Defined information request; structured workpaper build and review.
Methodology and conclusion
Application of recognised valuation methodologies; reconciliation and review.
Independent review and delivery
Internal review before opinion is finalised and presented to the board.
Credentials and approach
All engagements are managed by Richard W. Evans, who holds CBV and ASA credentials and brings extensive Canadian transaction experience. Independence is reviewed at intake and documented in the engagement file. Final fairness opinions are subject to independent internal review before delivery.
Frequently asked questions
When is a fairness opinion required?
A fairness opinion is typically obtained when a board or special committee is evaluating a proposed transaction and wants independent financial advice on whether the consideration is fair, from a financial point of view, to the relevant party. The specific circumstances in which an opinion is appropriate vary by transaction and jurisdiction.
How is independence assessed?
Independence is assessed at intake based on the relationships, fee arrangements, and nature of the engagement. Findings are documented in the engagement file and reflected in the opinion letter.
How long does a fairness opinion take?
Timelines depend on transaction complexity and the availability of information. RwE confirms a target timeline at scoping and updates the board if circumstances change.
Will you present to the board or special committee?
Yes. Where the engagement involves it, RwE presents the analysis and conclusion to the board or special committee directly and answers questions on methodology and assumptions.
Do you coordinate with legal counsel and other advisors?
Yes. Fairness opinion engagements typically involve coordination with legal counsel, the company's auditors, and other transaction advisors. RwE works alongside those professionals; we do not provide legal, audit, or securities-dealer services.
Disclaimer
Disclaimer
Fairness opinions are issued only on the basis of a defined engagement scope, documented independence review, and review by the appropriate professional advisors. Nothing on this website constitutes a fairness opinion or financial advice.