What is the maximum the investor group should offer

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Question - Note: The following information is common to the two questions on Avantes Engineering Corp.

The estimated enterprise value of Avantes Engineering Corp., a private engineering consulting firm located in Boston, is $125.47 million. The company's long-term debt currently equals $20.55 million. You have been retained by an investor group interested in acquiring Avantes to help with estimating the appropriate amount to offer. Based on recent transactions, you have determined that an illiquidity discount of 25% and a control premium of 20% are appropriate for Avantes.

What is the maximum the investor group should offer for a 25% investment in Avantes? Report your answer in millions of dollars to two decimal places. Do not round numbers in intermediate steps.

Reference no: EM132913464

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