Raphael (Ray) Newman
Raphael “Ray” Newman is a managing director and leader of the Transaction Advisory Services practice, based in the New York office. He leverages over 30 years of transaction experience advising private equity, hedge funds and strategic buyers.
Prior to joining the firm, Ray served as a partner in Arthur Andersen’s Transaction Advisory Services practice. Before that, he held the title of director of worldwide accounting and finance for Home Box Office. Earlier in his career he was a manager at Viacom and he started his career at Deloitte & Touche.
Ray has led numerous transactions with an aggregate value of more than $100 billion. He advises his clients in a wide array of industries, including manufacturing, distribution, transportation, retail, healthcare, technology, printing, publishing, automotive, logistics media and entertainment services. Ray has also acted as an advisor to his clients on U.S. Securities and Exchange Commission (SEC) matters, provided expert witness testimony on technical accounting matters and has been an arbitrator on purchase price and other accounting disputes.
Ray received an MBA in finance and international business with a sub-concentration in marketing from New York University’s Stern School of Business. He also holds a B.S. in accounting from Yeshiva University’s Syms School of Business. He is a Certified Public Accountant licensed in New York. Ray is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. He also holds FINRA Series 63 and 79 licenses.
Ranked No. 1 for Global Fairness Opinions
Duff & Phelps Opinions is a global leader in Fairness Opinions and Special Committee Advisory, ranking #1 for total number of global fairness opinions for full year 2022 and the past 10 years, according to Refinitiv cumulative data from 2013-2022.
Corporate Finance and Restructuring
Middle Market M&A, Strategic Advisory, Debt Advisory and Private Capital Markets, Restructuring and Insolvency Services, Financial Due Diligence, Fairness Opinions, Solvency Opinions and ESOP/ERISA Advisory
Transaction Advisory Services
Kroll’s Transaction Advisory Services platform offers corporate and financial investors with deep accounting and technical expertise, commercial knowledge, industry insight and seamless analytical services throughout the deal continuum. Duff & Phelps acquired Kroll in 2018 and unified under the Kroll brand in 2020.
Sell-Side M&A/Vendor Due Diligence
We unlock hidden value as our clients sell or carve-out a non-core business.
Working Capital Analysis
Balance sheet analysis to establish target working capital and evaluate balances delivered at closing.
Strategy and Commercial Diligence
Strategic perspectives on the target’s market and competitive environment, as well as deeper insights and data on value creation opportunities.
Comprehensive Due Diligence Solution
Our Comprehensive Due Diligence solution helps clients minimize risks and make the most informed business decisions. We support in the areas of tax, compliance and regulatory, ESG, operations/strategy, M&A, financial and accounting, investigations, disputes and cyber/IT risk.
The Opinions Practice of Kroll Rendered a Fairness Opinion to Pathfinder Acquisition Corporation
Kroll's ADG M&A Advisory Team Advised SGL Carbon on the Sale of Its Gardena Composite Solutions Business
Kroll’s Business Services M&A Advisory Team Advised Personify on Its Sale to WilsonHCG
Kroll's Consumer Investment Banking Team Advised HATCH Collection LLC on Its Minority Equity Investment from Marquee Brands LLC
Kroll’s Aerospace Defense and Government Services Investment Banking Team Advised Aerial Armor on Its Sale to Dedrone
Kroll’s Healthcare Investment Banking Practice Advised LSL Healthcare on Its Recapitalization by 5th Century Partners
Kroll's Consumer Investment Banking Team Advised Primanti Bros. on Its Sale to Authentic Restaurant Brands
Kroll's Healthcare Investment Banking Team Advised TRI–AD on Its Sale to Navia Benefit Solutions
Kroll's Transaction Advisory Team Rendered Financial Due Diligence to Denali Growth Partners on Its Investment in Boston Veterinary Clinic
Special Purpose Acquisition Companies – 2022 Highlights and Current Outlook
Mar 01, 2023
by Robert A. Bartell, CFA, Jennifer Terrell, Chris Janssen, Stephen Burt, Raphael (Ray) Newman, David Lu, Mark Kwilosz, David Lee