We conduct business appraisals for litigation, estate planning, transactions and other purposes.
In a litigation context, it is important to deliver defensible business valuations and credible results. We have experience defending our business appraisals with respect to complex valuation issues such as cost of capital, discounts and premiums, valuation methods and approaches, adjustments to financial statements, management forecasts, goodwill, and others.
We have experience valuing all sizes of business from very small to several billion in value. Over the years, we have developed specific industry expertise in numerous industries. Examples include the natural and organic foods market, construction, manufacturing, retail, medical and other types of professional practices.
Valuation discounts are one area of frequent dispute in business valuation especially when valuing noncontrolling interests in privately held businesses. We have experience estimating discounts for lack of control and lack of marketability.
Other services include:
- Valuation of debt securities and preferred stock
- Allocation of goodwill between personal and professional
- Review of other experts’ valuation reports
- Valuation of intangible assets such as trademarks and brand names
We are members of several business professional organizations and holders of professional credentials in business valuation from the following organizations:
- American Society of Appraisers – ASA
- AICPA- ABV
- NACVA – CVA
We offer low scope calculations letters, as well as a more extensive option of a full appraisal reports, based on the purpose of valuation.
- Regional grocery chain, revenues $450 million
- Regional hardware store chain, revenues $66 million
- Steel fabricator, revenues $90 million
- Wholesale lumber distributor, revenues $80 million
- Heavy construction equipment distributor, revenues $31 million
- Various medical practices revenues $5-$10 million
- Numerous family limited partnerships, assets up to $50 million
- Harley-Davidson dealerships, revenues $5 million
- Hotel and family restaurant, revenues $600,000
- Dog grooming business, revenues $200,000
- Single-family home builders
- Professional service firms, including engineering, advertising, architectural, real estate brokerage, insurance agencies
- Development stage companies, zero revenues
- Electronic component manufacturer, revenues $2 million
- Notes receivable
- Fractional interests in real estate
Experts & Associate in Business Valuations
CPA, ASA, ABV, CFE
Serena Morones is a damages expert who has testified more than 100 times and helped lead large and complex litigation cases to financial resolution through expert testimony or settlement.
ASA, CFA, ARM-BV, MBA, Director of Valuation Services
Alina Niculita is a valuation and testifying expert who has specialized in business appraisal and appraisal review for litigation cases and business transactions for two decades. She has appraised hundreds of companies in diverse industries and sizes up to several billion dollars in revenue and testified in support of her opinions.
CPA, ASA, ABV, Director of Valuation Research
Paul Heidt serves as the Director of Valuation Research, conducting business appraisals and litigation research. For 20+ years, he has performed 200+ business appraisals for litigation, gift and estate tax planning, marital dissolution, business transactions, reorganizations and succession planning.