Equitax Transaction from Brereton, Hanley & Co.

Equitax

ESP Solutions, Incorporated

Has acquired

The undersigned acted as financial advisor to
Equitax in this transaction.

Equitax is a nationally recognized contingent fee tax recovery audit practice.

Private sector businesses hire Equitax to audit tax payments, real property assessments, sales & use taxes and other assessments. The objective is to recover overpayments.

The owners sought 100% divestiture of assets and responsibilities for business operations in order to travel extensively.

Brereton, Hanley and Company arranged due diligence meetings with three of the nation's largest publicly traded business service companies. A confidential soft auction yielded two acceptable offers at the high end of the valuation range.

EPS Solutions Corporation purchased Equitax for a blend of cash, notes and stock. We also negotiated a separate stock pool for key employee retention. The owners were required to stay with the company for only 90 days.

Client Reference Letter

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