CERTIFIED BUSINESS APPRAISERS
DARWIN BENZ, CPA, CBA
Wilkerson, Guthmann & Johnson, Ltd.
55 East Fifth Street, Suite 1300
St. Paul, Minnesota 55101
Phone: 651.222.1801
Fax: 651.297.6929
Email: DBenz@WilkersonCPA.com
Mr. Benz is a shareholder in the firm of Wilkerson, Guthmann & Johnson, Ltd. He is a member of the American Institute of Certified Public Accountants, the Minnesota Society of Certified Public Accountants, the ESOP Association, the Institute of Business Appraisers, and the National Litigation Support Services Association.
www.WilkersonCPA.com
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RICHARD C. BERNING, CPA/ABV, CBA, CVA, CFF, CFP, CMA
Berning & Heidebrecht, Ltd.
809 Meander Court
Medina, Minnesota 55340
Phone: 952.544.1212
Fax: 952.767.0112
Email: Rick@BHExperts.com
Mr. Berning’s credentials include being a CPA, Accredited in Business Valuation (ABV), a Certified Business Appraiser (CBA), a Certified Valuation Analyst (CVA), Certified in Financial Forensics (CFF), a Certified Financial Planner (CFP) and a Certified Management Accountant (CMA). He has been involved in hundreds of business valuations involving companies with revenues from $100,000 to over $600,000,000. Mr. Berning is a frequent speaker, both locally and nationally, on business valuation and divorce-related topics. He has acted as a court-appointed neutral expert and has provided expert witness testimony on many occasions.
Mr. Berning’s litigation support experience includes extensive work in the divorce area, including involvement in more than 1,000 divorce proceedings. His work in the divorce area includes business valuations, spousal maintenance calculations, tax consulting, non-marital tracing and frequent expert witness testimony. Berning & Heidebrecht, Ltd. is dedicated exclusively to providing business valuation and litigation support services.
www.BHExperts.com
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MARK N. GEHRIG, CBA, ASA, CFA
Grant Thornton, LLP
500 U.S. Bank Plaza North
200 South Sixth Street
Minneapolis, Minnesota 55402
Phone: 612.677.5139
Fax: 612.332.8361
Email: Mark.Gehrig@GT.com
Mr. Gehrig specializes in the appraisal and valuation of businesses and fractional equity ownership interests. He has extensive experience in the appraisal of intellectual property and intangible assets and also performs valuation analyses of preferred stock, fixed income and derivative securities. Mark serves both publicly traded and privately held client companies.
The various reasons for which he has provided appraisal services include most tax, financial statement reporting, transactional and internal management planning functions. Notable among these are gift and estate tax, GRAT, 141/142 purchase price allocation/goodwill impairment analysis, merger and acquisition, buy-sell agreements, charitable donation, recapitalization, entity conversion, condemnation, general corporate planning, financing, ESOP, and various regulatory requirements. Mark has testified in both federal tax and state court, served as a court appointed neutral appraiser, and regularly serves on dispute resolution appraisal panels. Mark was formerly employed by Arthur Andersen, LLP; American Appraisal Company; and Patchin Appraisals, Inc.
www.GrantThornton.com
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PAUL J. HALVERSON, ASA
527 Marquette Ave., S., Suite 1700
Minneapolis, Minnesota 55402
Phone: 612.230.3100
Email: paul.halverson@chartwellcapitalsolutions.com
Paul has provided financial advisory services to privately-held companies since 1987. He is recognized as a leading authority on business valuation, particularly with respect to ownership transition issues. He has extensive experience assisting business owners in the transfer of ownership to family members, management teams and third parties. A substantial portion of his work relates to Employee Stock Ownership Plans and providing independent financial advisory services to ESOP Trustees and other corporate fiduciaries. Paul has been involved in structuring several complex transactions.
Paul is a nationally recognized speaker on business valuations. He has been featured at various events including The ESOP Association, the National Center for Employee Ownership and the American Society of Appraisers.
Paul is an active member of The ESOP Association, where he serves as a member of the Valuation Advisory Committee. He is also a member of the National Center for Employee Ownership, the American Society of Appraisers and the Institute of Business Appraisers.
Paul is an Accredited Senior Appraiser and Certified Business Appraiser. He is a past President of the Twin Cities Chapter of the American Society of Appraisers. Paul holds a Bachelor of Arts degree in finance, with honors, from the University of St. Thomas.
www.chartwellcapitalsolutions.com
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Investment Analysts Network, Inc.
502 Beltrami Avenue, Suite4
Bemidji, Minnesota 56601
Phone: 218.308.2322
Fax: 218.444.3530
Email: JCHawthorne@att.net
Mr. Hawthorne is President and sole owner of Investment Analysts Network, Inc. He established the company as a vehicle through which to perform independent valuation consulting and BV teaching assignments. He is a past member of the Business Valuation Committee of the ASA, past president of the Twin Cities/MN Chapter, a member of the ASA’s teaching faculty and a member of the ASA’s Speaker’s Bureau. During his 20+ years of practice, Mr. Hawthorne has participated in over 1,000 valuation and corporate financial consulting projects. Client corporations ranged in size from business start-ups to businesses with over $500 million in sales. Some of the specialized industries he has valued include: government contractors, telecommunications and dot.com companies, banking and insurance and agriculture-related companies.
In recognition of extraordinary contributions to NCCIBA, the Board has granted Lifetime Member status to Mr. Hawthorne.
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THOMAS HELLING, MBA, CPA, MCBA
Presidents Solutions, Inc.
5005 Aldrich Avenue South
Minneapolis, Minnesota 55419
Phone: 612.824.8030
Cell: 612.518.1190
Email: Tom@PresidentsSolutions.com
Thomas Helling of Presidents Solutions, Inc. in Minneapolis is a 24-year veteran in the business transition area. Tom has been involved in buying, selling and valuing over 500 closely-held businesses from under $1 million to $180 million in annual revenues. Tom has spoken for national conferences, executive committee groups, financial and insurance organizations, chambers of commerce, board trustees and business-owner groups in the Midwest. He is one of 33 Master CBAs in the United States.
www.PresidentsSolutions.com
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WILLIAM C. HERBER, CBA
Shenehon Company
88 South Tenth Street, Suite 400
Minneapolis, Minnesota 55403
Phone: 612.333.6533
Fax: 612.344.1635
Email: BHerber@Shenehon.com
Mr. Herber is Vice President and Director of the Business Valuation Group for Shenehon Company. Shenehon is a commercial real estate and business valuation firm located in Minneapolis, Minnesota. Bill has over 23 years of valuation experience, specializing in estate and gift, buy/sell agreements, mergers and acquisitions, divorces and special use properties. He is published in both local and national trade journals and has served as an instructor for numerous seminars. He has also testified in various court settings, including Federal Tax Court. Mr. Herber received his BA in Accounting from the University of St. Thomas and is accredited as a “Certified Business Appraiser” by the Institute of Business Appraisers (IBA).
www.Shenehon.com
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MILES LOCKETZ, CBA, CPA/ABV
Lehrman, Flom & Co., PLLP
600 Highway 169 South, Suite 820
Minneapolis, Minnesota 55426
Phone: 952.546.5306
Fax: 952.546.8882
Email: MHL@LehrmanFlom.com
Mr. Locketz has over 45 years experience in accounting, auditing, tax consulting, business valuation, litigation support and business consultation. He is accredited as a “Certified Business Appraiser” by the Institute of Business Appraisers and also accredited in Business Valuation by the American Institute of Certified Public Accountants. He is a frequent speaker at legal, accounting and other forums on tax and business valuation subjects. He is a member of both the Taxation and Business Valuation and Forensic & Litigation Consulting sections of the AICPA. He formerly was a member of the National Review Board of AICPA. He has served as chairperson of Minnesota Society of CPAs Professional Ethics Committee. He has appeared as an expert witness in Federal and State courts for business valuations and as a court-appointed appraiser.
www.LehrmanFlom.com
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MICHAEL W. MEAGHER, CBA, MBA
MWM & Associates, Inc.
5901 Long Brake Trail
Edina, Minnesota 55439
Phone: 612.759.4833Fax: 952.546.9001
Email: MWMeagher@mwmassociates.com
Mr. Meagher has over 25 years of management and financial consulting experience. He is a member of the Institute of the Business Appraisers. Mike completed his MBA at Stanford University. Following that, he worked for Chase Manhattan Bank in New York, NY. During his time with Chase, Mike spent two years in Brazil managing a $200 million loan portfolio. Subsequently, he founded and served as CFO for the San Francisco Grocery Express. Upon its sale, Mike joined Merrill Lynch Private Capital as a Senior Associate. He is experienced in the financial analysis and due diligence aspects of private companies for financial transaction purposes. He also served as the lead analyst in the approval process for bridge loans, acquisition, and asset sales of companies. Most recently, Mike served as a Senior Manager with Allianz Life Insurance Company, where he managed 25 employees and directed a $150 million business unit.
www.mwmassociates.com
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STEVEN J. NELSON, ASA, CBA
Chartwell Capital Solutions
17th Floor Rand Tower
527 Marquette Avenue South
Minneapolis, Minnesota 55402
Phone: 612.230.3131
Fax: 612.230.3101
Email: Steven.Nelson@ChartwellCapitalSolutions.com
Mr. Nelson has provided financial advisory services to privately-held companies since 1991 and is a recognized authority on business valuation and ownership transition issues. He specializes in valuation issues related to ESOPs and is an active member of the ESOP Association and the NCEO. Throughout his career, Mr. Nelson has advised clients on a wide variety of corporate finance, valuation and fairness issues for ESOP, mergers, acquisitions and divestitures, general corporate and tax related purposes.
He has performed valuations as a court-appointed appraiser and his valuation opinions have withstood scrutiny by the Internal Revenue Service and the Department of Labor.
He has written articles and made various presentations on valuation topics for professional groups including the Minnesota Chapter of the ESOP Association, National Center for Employee Ownership and various boards of directors.
www.ChartwellCapitalSolutions.com
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RANDALL K. SCHOSTAG, CFA, MCBA, ASA, AVA, BVAL
MN Business Valuation Group
223 Little Canada Road
St. Paul, Minnesota 55117
Phone: 612.240.0309
Fax: 612.677.3881
Email: RSchostag@BusValGroup.com
Randall (Randy) Schostag has conducted business analysis, valuations, and deal structuring for more than 30 years. He is president of Randall Schostag Inc., doing business as Minnesota Business Valuation Group; LLC. MBVG is a wholly owned subsidiary of Olsen Thielen & Company, LTD St. Paul.
Randy is a Chartered Financial Analyst (CFA) (Association for Investment Management and Research - AIMR), a Master Certified Business Appraiser (MCBA) (Institute of Business Appraisers - IBA), and an Accredited Senior Appraiser (ASA) (American Society of Appraisers - ASA). In addition, Randy has earned the designation of Accredited Valuation Analyst (AVA) from the National Association of Certified Valuation Analysts (NACVA) and the designation of Business Valuator Accredited for Litigation (BVAL) from IBA.
Randy has provided litigation support on valuation matters, including working with court panels, bench report submissions, and expert testimony, and has also been a plaintiff in a valuation damages matter which required mediation, arbitration, federal district court, as well as appeals. He has completed valuation/consulting engagements for estate settlements and gift transactions, employee stock ownership plans, buy/sell agreements, merger/acquisition transactions, shareholder oppression, management buyouts, options, technology, intangible assets, early-stage companies, 141 purchase price allocation, 142 goodwill impairment, 123 (R) employee option valuation, as well as SFAS 133 & 144.
www.BusValGroup.com
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ROBERT J. STRACHOTA, MCBA, MAI, CRE, BVAL, FIBA
Shenehon Company
88 South 10th Street, Suite 400
Minneapolis, Minnesota 55403
Phone: 612.333.6533
Fax: 612.344.1635
Email: Value@Shenehon.com
Mr. Strachota is President of Shenehon Company. He has a B.A. in Finance, and a Masters in Business Administration. He has over 30 years of appraisal experience in the preparation of real estate and business enterprise valuations. He has served as an expert witness in numerous Federal, State and District courts, commission hearings and special government proceedings. He has served as an ad hoc professor for three degree-accredited universities, and as an instructor for various seminars and extension courses. He has acted as a court-approved arbitrator, commissioner or magistrate on numerous real estate and business valuation disputes. His writing experience includes published articles in various local and national trade journals.
www.Shenehon.com
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SCOT A. TORKELSON, CBA
Shenehon Company
88 South 10th Street, Suite 400
Minneapolis, Minnesota 55403
Phone: 612.333.6533
Fax: 612.344.1635
Email: STorkelson@Shenehon.com
Mr. Torkelson is Vice President-Director of Information Systems at Shenehon Company. He is a Senior Business Appraiser, with over 19 years of business valuation experience. Scot specializes in the areas of estate and gift, intangible asset valuation, high technology and start-up companies, and special problems. He is a member of the IBA. Scot prepares lectures for seminars and classes at the University of St. Thomas, and is a frequent speaker at national and local conferences of the Institute for Business Appraisers.
www.Shenehon.com