Has acquired The undersigned acted as financial advisor to the sellers in these transactions.

MRC is a nationally recognized leader in revenue enhancement and economic development-related consulting services to municipal governments.

In an environment of federal and state funding cutbacks to cities, advice on enhancing local revenues and building local tax bases became a hot topic.

The partners were not in a position to finance expansion. They sought an acquirer with existing national presences and capital to go "national" with services while providing upward mobility for its employees.

The MRC partners engaged Brereton, Hanley to manage a soft auction with three logical acquirers of the company. Through a strategic review, we determined that municipal bond insurance companies had a vested interest in MRC services.

We arranged meetings with the nation's top three (Fortune 500) municipal bond insurance firms. The company was sold to MBIA Insurance Corporation (NYSE: MBI) for cash and stock.

Client Reference Letter

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