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Kasting, Kauffman & Mersen, PC
Credible litigation support
The law firm of Kasting, Kauffman & Mersen needed an objective business valuation to determine an equitable divorce settlement.
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The Challenge
Kasting, Kauffman & Mersen’s client played an active role in the family’s manufacturing business before her marriage declined and was due half the value of the company in the divorce settlement. But her husband’s legal team presented a low valuation of the business to the court.
The Solution
Wipfli provided a business valuation and litigation support for the case. Wipfli toured the company and worked with its accountant to get financial data and other business background. Then we used a market approach and a discounted cash flow (DCF) income approach to determine value. DCF was determined using the weighted average cost of capital. The opposing side used the build-up approach to determine DCF and included marketability discounts on the business. The valuations were over $1 million apart.
The Wipfli team testifies well and can explain complicated financial issues in layman’s terms. Not all experts can do that.
The results
Both experts testified in court to defend their methodology. Wipfli’s analysis was deemed “more credible,” and the business value was ruled to be $2.1 million, the full amount of the Wipfli determination.
