The Fojtasek family is considering various options for the future of their business, including buyouts, a levered recapitalization, and an offer from Heritage Partners. In order to determine the value range for The Fojtasek Companies, we conducted an Adjusted Present Value and Comparable Transactions analysis under both base case assumptions and management projection assumptions. Our analysis found that the value range for the business under base case projections is between $92,863,000 and $96,418,000, and under management projection assumptions, the value range is between $117,941,000 and $132,298,000. While the higher value range is based on more optimistic assumptions, we believe that the base case projections provide a more realistic valuation range given the nature of the business and the current economic environment. Based on these valuations, as well as materials provided by Heritage Partners, the history of The Fojtasek Companies, and the family dynamics, we recommend that both Heritage Partners and the Fojtasek family pursue the proposed transaction.