MABVP Spring News

Posted on March 29, 2021  

Spring 2021: Volume 26, Number 4

Next Meeting:    May 20, 2021

Place: Remote Meeting via Zoom (contact Natalie at to request a meeting invitation)

Time: Noon – 1:30 PM

Agenda: Owner transitions can take many forms, from private equity transactions to employee purchases, including Employee Stock Ownership Plans (ESOPs). Join the Minnesota Association of Business Valuation Professionals as we listen to Dan Markowitz from Boulay PLLP present how ESOPs can help accomplish an ownership transition and what it takes to have a successful transition.

Notes from the February 18th Chapter Business Meeting:  

Michael Schaefer presented on changes in GAAP and facilitated a discussion on how such changes can impact valuations.  Thank you, Michael, for your presentation and leading the conversation!

MABVP History Snapshot

Recently, Tom Helling, a founding member of the original IBA chapter and a lifetime member of the MABVP, caught up with Ken MacKenzie while in Florida.  Ken is the former Co-Executive Director of the Institute of Business Appraisers (IBA), which preceded our current organization.  Tom graciously provided a brief writeup commenting on his meeting with Ken and the history of our organization.  You can read all about the history and check out a picture of Tom and Ken from their recent meeting below.  Thanks, Tom, for providing this!

Upcoming Meeting Schedule:                        

  • Thursday, May 20, 2021 – Alternative Exit Strategy – Transition to an ESOP Plan, Dan Markowitz
  • Thursday, September 16, 2021 – Annual Chapter Business Meeting – tentative date pending board approval
  • Thursday, December 16, 2021 – Annual Business Valuation Contest – tentative date pending board approval

You can reach MABVP President Joshua Johnson at  Natalie Mandley can be contacted at or at 612.767.9452.

MABVP History Snapshot

March 12, 2021

To:          Minnesota Association of Business Valuation Professionals

From:    Tom Helling

Re:         Ken MacKenzie 

Ken MacKenzie was Co-Executive Director of the Institute of Business Appraisers (IBA) during 1983-1996.  He is still sharp at 87, and a great mentor.  Recently, we had lunch in Palm Beach, Florida. (See picture). Ken and Ray Miles (Father of Business Valuation & Author of Basic Business Appraisal) were excellent partners. Ken was the primary growth generator and Ray, the primary tactician. Quality work and relationship building with peers were cornerstones of the IBA. Great education programs advanced the new business valuation profession.

Prior to the IBA, Ken was Director of Outside Sales for Xerox Corporation. He & his team of 8,000 were instrumental in the invention & growth of fax machines & printers. This revolutionized the speed of business communications. 

Ray founded the IBA in 1978 and grew it to 300 members in 5 years. Ken then grew membership to 4,200 by 1996. Due to rigorous peer reviews of two reports, strong standards, appraisal experience and an exam, it was difficult to obtain the Certified Business Appraiser (CBA) rank.  Roughly 150 attained the CBA and out of those roughly 35 obtained the Master Certified Business Appraiser level (less than 1%).  

Quality in report writing is critical to good business valuation, as was synthesizing outstanding research. Ken’s famous line was, “If you can think of it, I considered it.”  This thought process & understanding management helped me do many deals, although Kens’ skills were far beyond mine. While serving on the Quality Review Committee for 5 years & the Joint Professional Responsibilities Board of IBA & NACVA, I met many wonderful people across the country. 

In 1991 John Hawthorne, myself and other appraisers formed the North Central Chapter of the IBA. Ray & Ken flew in for our first meetings. Roughly 12 chapters in the U.S. formed shortly after.  IBA later merged with NACVA. Our chapter evolved into the Minnesota Association of Valuation Professionals (MABVP) today.  30 years later, we say, “Well done, Ken MacKenzie”.