Linas Cicenas is a Director in the Transaction Opinions business unit, based in Los Angeles. Linas has over 15 years of experience in advising companies, boards of directors, special committees, limited partner advisory committees, corporate counsels, trustees and shareholders.
Linas Cicenas is a Director in the Transaction Opinions business unit, based in Los Angeles. Linas has over 15 years of experience in advising companies, boards of directors, special committees, limited partner advisory committees, corporate counsels, trustees and shareholders.
Linas specializes in the execution of transaction opinions and valuations in the context of M&A, private placements and recapitalization transactions. He has provided fairness and/or solvency opinions in a variety of public and private company transactions, including GP-led secondary recapitalizations, take-privates, leveraged buyouts, asset sales, reverse mergers, tender offers, related-party transactions, spin-offs, capital raises, dividend recapitalizations and ESOP transactions.
Some of the noteworthy transactions on which Linas has advised include
- Blackstone Inc.(NYSE:BX): rendered multiple fairness and solvency opinions on numerous engagements, mostly in the real estate sector
- Cogentix Medical (NasdaqGM:CGNT): rendered a fairness opinion to the board in connection with the sale to Laborie Medical Technologies
- Driscoll’s: advises the board of directors and provides ongoing annual valuation services of the company’s common stock
- Match Group (NasdaqGM:MTCH): rendered a solvency opinion to the board in connection with its separation from IAC/InterActiveCorp
- Neon Therapeutics, Inc. (NasdaqGM:NTGN): rendered a fairness opinion to the board in connection with the sale to BioNTech (NasdaqGM:BNTX)
- Paramount Group (NYSE:PGRE): determined the relative value of investment funds and management company and rendered a fairness opinion with respect to their relative values prior to its conversion to a REIT and IPO
- RedBox Entertainment Inc. (NasdaqGM:RDBX): rendered a fairness opinion to the board in connection with the sale to Chicken Soup for the Soul Entertainment, Inc. (NasdaqGM:CSSE)
- Starwood Hotels and Resorts Worldwide, Inc. (formerly NYSE:HOT) rendered a solvency opinion in connection with the spin-off of its vacation interval business
- SunPower Corporation (NasdaqGM:SPRW) rendered a solvency opinion in connection with the spin-off of its solar module manufacturing business
Prior to joining Kroll, Linas was a Senior Associate at a Los Angeles-based boutique valuation firm. Before that, he was a Financial Analyst with Houlihan Lokey’s Financial Advisory Services practice. He is also the Founder of the Tennis Pyramid—a tennis league for working professionals.
Linas received an MBA from UCLA Anderson School of Management, where he graduated with an Excellence in Finance award. He also has a B.A. in business administration from Loyola Marymount University, where he graduated cum laude and captained the tennis team. Linas is a Registered Representative holding FINRA Series 79 and 63 licenses.
Corporate Finance and Restructuring
M&A advisory, restructuring and insolvency, debt advisory, strategic alternatives, transaction diligence and independent financial opinions.
Fairness and Solvency Opinions
Duff & Phelps Opinions is a global leader in Fairness Opinions and Special Committee Advisory, ranking #1 for total number of fairness opinions in the U.S., EMEA (Europe, the Middle East and Africa), Australia and Globally in 2023 according to LSEG (FKA Refinitiv).
Fairness Opinions
#1 ranked provider of fairness opinions for boards of directors and special committees.
Solvency Opinions
Duff & Phelps Opinions practice is a globally recognized leader in solvency opinions. Since 2005, we have rendered more than 2,585 fairness and solvency opinions for transactions with an aggregate deal value of over $8 trillion.
