gbq valuation and financial opinion services brochure
TRANSCRIPT
Valuation & Financial Opinion Services
www.gbqconsulting.com
World-Class Valuation Expertise
GBQ Consulting is a national valuation practice that provides valuation and financial advisory services to companies of all sizes for a variety of purposes. We offer world-class quality, capabilities and service. Our deliverables withstand the highest level of third-party scrutiny.
Our team of professionals has dedicated their careers to the valuation industry and includes recognized thought-leaders who serve as frequent speakers, authors and instructors for various professional organizations and educational institutions. Our highly credentialed team members have earned a multitude of professional designations related to valuation, finance and accounting, including CFA (Chartered Financial Analyst), CPA (Certified Public Accountant), ASA (Accredited Senior Appraiser), ABV (Accredited in Business Valuation), CBA (Certified Business Appraiser), CVA (Certified Valuation Analyst), CFFA (Certified Forensic Financial Analyst) and CFF (Certified in Financial Forensics).
The culture at GBQ reflects our commitment to our firm’s brand attributes, which includes professionals who are highly-motivated, passionate, savvy, responsible, personable and attentive. This culture permeates our approach within GBQ and with the clients we serve.
Transaction Advisory Services
Valuations for Corporate Planning & Assistance
ESOP Consulting & Valuations
Succession & Wealth Planning Valuations
Financial Reporting Valuations
Dispute Advisory & Forensic Services
Services Provided:
Valuations often play a crucial role in achieving corporate and management
objectives. We provide valuation services related to the following corporate
planning purposes:
• Stock Options/Compensation Expense
• C to S Corporation Conversions
• Corporate Redemptions, Recapitalizations & Spin-offs
• Transfer Pricing Studies
• Buy-Sell Agreement Consulting
• Intellectual Property
• Shareholder Transactions
• Assessments of Potential Transactions
• ESOP Feasibility Assessments
Transaction Advisory Services
Valuations for Corporate Planning & Assistance
Pre-Transaction Planning
• Pre-Transaction Gifting Programs
• Pre-IPO & Cheap Stock Valuations
• ESOP Feasibility Studies &
Analyses
Opportunity Evaluation
• Evaluating Targets or Offers
• Exchange Ratio Analysis
• Due Diligence
Transaction Execution & Support
• Fairness Opinions
• Solvency Opinions
• ESOP Implementation
Post-Transaction
• Purchase Price Allocation
• Ongoing Valuations
• Post-Transaction Disputes
GBQ’s transaction advisory services include all aspects of a transaction,
including pre-transaction planning, opportunity evaluation, transaction
execution & support and post-transaction services. Situations that typically
trigger a need for our services include:
• Mergers & Acquisitions
• Divestitures & Spinoffs
• Going-Private Transactions
• ESOP Transactions
• Management Buyouts
• Recapitalizations & Leveraged Buyouts
• Bankruptcies & Reorganizations
Our insightful, independent advice and financial opinions are relied upon with
confidence by companies, shareholders, corporate boards, special committees,
independent trustees and other fiduciaries. We regularly complete
engagements for the following purposes:
Savvy business owners are increasingly discovering how an ESOP offers a
unique ownership transition alternative that rewards employees, preserves a
company’s legacy and provides shareholders and companies with tremendous
economic and tax advantages. GBQ’s professionals regularly assist employee-
owned companies on ESOP matters, and have successfully guided many
companies through the initial evaluation and implementation of an ESOP.
We are active members in the ESOP Association, the National Center for
Employee Ownership and the Ohio Employee Ownership Center. We also serve
as frequent speakers and authors on ESOP-related topics on a local, regional
and national basis. Services provided include:
Independent valuations with reasoned positions and comprehensive
documentation are often the centerpiece of a business owner’s succession
plan. GBQ has extensive experience in performing complex valuation analyses
and documenting our opinions with comprehensive reports that are designed
to withstand potential IRS review and scrutiny. We work closely with client
companies and their advisors on valuations for succession and family wealth
planning purposes, including:
• Estate&GiftTaxPlanning&Compliance
• FLP&LLCDiscountStudies
• RestrictedStock&BlockageDiscountOpinions
• Buy-SellAgreementConsulting
• StockRedemptions
• ShareholderTransactions
• AssessmentsofPotentialTransactions
• ESOPFeasibilityAssessments
ESOP Consulting & Valuation
Succession & Family Wealth Planning Valuations
Pre-ESOP Planning & Evaluation
• Assessment of Alternative
Strategies
• FeasibilityStudies&Analyses
• ESOP Consulting
• Preliminary Valuation
ESOP Formation
• Initial Valuation
• TransactionStructuring&
Financing
• FairnessandSolvencyOpinions
ERISA Compliance
• Annual Valuations
• TrusteeAdvisory
• ESOPTransactions
• Valuation Report Review
Exit Planning
• TransactionAdvisory
• ESOPTerminations
• FairnessOpinions
Corporate boards, CFOs, controllers and executives at both publicly traded
and privately held companies face many challenges in ensuring compliance
with ever-changing financial reporting standards. GBQ is able to provide
sophisticated and supportable valuations in connection with domestic and
international financial reporting compliance, including:
• PurchasePriceAllocations
• Goodwill&IntangibleAssetImpairmentTesting
• Options,Warrants&Swaps
• FairValueMeasurements
• EmbeddedDerivativeValuation
• PrivateEquityPortfolios
• Preferred,Common&ConvertibleSecurities
• EmployeeStock-BasedCompensation
• FreshStartAccounting
• FinancialAssets&Liabilities
• VariableInterestEntities
Whileouranalysesmaybecomplex,webalancethatwithanunderstandable
and concise approach to the facts. GBQ’s team is experienced in all phases
of litigation, including pre-litigation consulting, discovery, economic damages
analysis, forensic accounting, expert testimony and final resolution.
Our clients appreciate our practical and straightforward approach and we have
astrongtrackrecordtobackitup.Examplesofsituationsthatnecessitateour
services include:
• CommercialLitigation/EconomicDamages
• ConstructionDisputes
• IntellectualPropertyDisputes
• ForensicAccountingandFraudInvestigations
Financial Reporting Valuation Services
Dispute Advisory & Forensic Services
GBQ was a critical part of our transaction advisory team. Their valuation analysis gave our Board confidence to move forward with the transaction.
We are proud to work with the nationally-recognized ESOP experts at GBQ.
GBQ’s valuation analysis was extremely comprehensive and well-documented. This valuation report is now the centerpiece of our family’s estate plan.
GBQ was very responsive and brought a unique ability to work collaboratively with our auditors and their valuation team on our purchase price allocation and stock-based compensation valuations. GBQ is now our preferred provider for all of our valuation needs.
Representative Clients
Retail Consumer Products Food & Beverage Finance
Representative Clients
Building Materials Architecture & Engineering
Construction & Contractors
Transportation &Logistics
Representative Clients
Health Care Providers
Medical Devices & Services
BioTech & Pharmaceutical Distribution
Representative Clients
Technology Software & SaaS Energy & Utilities Chemicals & Advanced Materials
Representative Clients
Service
Representative Clients
Manufacturing
Select Financial Reporting Valuation Clients
Select Financial Reporting Valuation Clients
Select Financial Reporting Valuation Clients
Select Financial Reporting Valuation Clients
Select ESOP Transactions
Select ESOP Clients
Locations
Columbus 230 West Street Suite 700 Columbus, OH 43215
Brian D. Bornino, CPA/ABV, CFA, CBA [email protected]
Philadelphia1515 Market StreetSuite 802Philadelphia, PA 19102
David L. Bookbinder, [email protected]
New York100 Park Avenue Suite 1640 New York, NY 10017
Matthew L. [email protected]
IndianapolisChase Tower - Circle111 Monument Circle, Suite 500 Indianapolis, IN 46204
Joseph R. Borowski, CFA [email protected]
Cincinnati 312 Walnut StreetSuite 1600Cincinnati, OH 45202
Keith A. Hock, CPA, CFF, MAFF, CVA [email protected] 513.762.5557
Valuation Leadership Team
Brian D. Bornino CPA/ABV, CFA, CBADirector of Valuation ServicesBrian leads GBQ’s valuation practice. His team is involved with hundreds of valuation assignments annually, often in the contexts of corporate transactions, ESOPs, financial reporting, and shareholder succession planning. Brian is a nationally-recognized industry thought leader, serving as a frequent speaker and author on valuation and ESOP-related topics for various local, regional, and national professional [email protected]
David L. Bookbinder ASADirector, Valuation ServicesDavid leads our East Coast Practice and has a diverse background with over 25 years of corporate finance, transaction, and valuation consulting, with a particular expertise in financial valuation. He has conducted valuations of equity, debt, derivatives, and intangible assets for both privately held and publicly traded companies in connection with financial reporting, transaction advisory, estate & gift tax, and others.
Matthew L. Katzeff Director, Valuation ServicesMatt leads our New York office and for over 20 years he has provided transaction advisory and valuation services for public and private entities, joint ventures and real estate. He has executed over $22 billion in transactions and conducted valuations for fairness opinions, M&A, divestitures, spin-offs, joint ventures, reorganizations, recapitalizations, leveraged and management buyouts, ESOPs, estate planning, and regulatory compliance. To date, he has issued fairness opinions for over $10 billion in transactions. [email protected]
Keith A. Hock CPA, CFF, MAFF, CVADirector of Forensic and Dispute Advisory ServicesKeith has more than 23 years of accounting and finance experience, including more than 20 years providing advisory services to attorneys and clients involved in disputes or litigation. He has testified at trial, arbitrations, in depositions and performed damage analysis.
Joseph R. Borowski CFADirector, Valuation ServicesJoe has performed, led, and contributed to a wide variety of valuation assignments, and has particular expertise with valuations for the following purposes: estate and gift taxation, ESOPs, fairness & solvency opinions, buy-sell agreements, mergers and acquisitions, divestitures and spin-offs, and others.
Rebekah A. Smith CPA, CFF, CVA, MAFF Director of Forensic and Dispute Advisory ServicesRebekah focuses on the areas of business valuations, forensic accounting, economic damages and litigation consulting. She has experience rendering services in litigation matters and has qualified to testify in court as an expert witness. [email protected]
Valuation Leadership Team
Craig T. Hickey CFASenior Manager, Valuation ServicesCraig has performed, led, and contributed to a wide variety of valuation assignments, and has particular expertise with: transaction advisory valuations, purchase price allocations and intangible asset valuations, intangible asset impairment testing, valuations of complex equity, debt, convertible, and derivative securities, ESOPs, fairness & solvency opinions, estate & gift tax valuations and [email protected]
Eric B. Dollin Manager, Valuation ServicesEric has performed, led, and contributed to a wide variety of valuation assignments, and has particular expertise with valuations for the following purposes: estate and gift taxation, ESOPs, fairness & solvency opinions, buy-sell agreements, mergers and acquisitions, divestitures and spin-offs and others.
Jerry P. Cullins Senior Manager, Valuation ServicesJerry has performed, led, and contributed to a wide variety of valuation assignments, and has particular expertise with: valuations of complex equity, debt, convertible, and derivative securities, purchase price allocations and intangible asset valuations, intangible asset impairment testing, enterprise valuations for corporate and strategic planning and others. [email protected]
Paul M. Fullerman CPA, CVA Manager, Forenisc and Dispute Advisory ServicesPaul’s experience includes a wide variety of valuation engagements involving businesses and business interests of privately held companies. These engagements have been performed for numerous purposes including estate and gift taxation, business succession planning, mergers and acquisitions, buy-sell agreements, and other tax, litigation, and corporate-related matters.
Kelly C. Noll CFAManager, Valuation ServicesKelly has performed, led, and contributed to a wide variety of valuation assignments, and has particular expertise with: transaction advisory valuations, purchase price allocations and intangible asset valuations, intangible asset impairment testing, ESOPs, fairness & solvency opinions, estate & gift tax valuations, buy-sell agreements and others.
Brian D. BorninoProfessional Biography
Mr. Bornino is the Director of Valuation Services and National Practice Leader at GBQ Consulting LLC. His broad and extensive experience includes over 2,000 valuation engagements involving businesses, business interests, and intangible assets of privately held and publicly traded companies. These engagements have been performed for numerous purposes including estate and gift taxation, business succession planning, ESOP valuations and consulting, fairness opinions, purchase price allocations, goodwill impairment testing, mergers and acquisitions, going-private transactions, bankruptcies and reorganizations, buy-sell agreements, restricted stock and blockage opinions, pre-IPO planning, stock option grants, shareholder disputes, marital dissolutions, and other tax, litigation, and corporate-related matters.
Prior to joining GBQ in 2005, Brian held leadership positions with various regional and national valuation practices. Most recently, Brian served as Director of Business Valuation Services for a Central Ohio CPA firm. Prior to moving to Columbus from Cleveland in 2003, Brian served as a Director in the Valuation & Litigation Advisory Services group of Stout Risius Ross, Inc. where he co-founded the firm’s Cleveland office, served on the firm’s national Business Valuation Steering Committee, managed a staff of valuation analysts and managers, and was involved with nearly every valuation engagement produced by the firm’s Cleveland office. Prior to joining Stout Risius Ross, Inc., in 2000, Brian was a vice president in the Business Valuation Services unit of KeyBank.
Mr. Bornino is a frequent speaker on valuation topics and has given presentations for the Ohio Society of Certified Public Accountants, the Cleveland Bar Association, the Columbus Bar Association, the Cincinnati Bar Association, the ESOP Association, the Ohio Employee Ownership Center, the National Center for Employee Ownership, the Columbus Estate Planning Group II, the Institute of Management Accountants, and various other professional organizations and educational institutions.
Mr. Bornino was awarded The ESOP Association’s 2014 Membership Recruitment Award for his work championing Employee Stock Ownership Plans. Education:• MBA - Case Western Reserve University
(Finance & Economics)• BBA - Ohio University (Finance & Accounting)
Professional Accreditation:• CPA/ABV - Certified Public Accountant, Accredited
in Business Valuation• CFA - Chartered Financial Analyst• CBA - Certified Business Appraiser
Associations and Memberships:• American Institute of CPAs• Ohio Society of CPAs• CFA Institute; CFA Society of
Columbus• Institute of Business Appraisers• The ESOP Association• National Center for Employee
Ownership• Ohio Employee Ownership Center• Association for Corporate Growth• Estate Planning Group II of
Columbus• Appraisal Issues Task Force
Brian D. BorninoCPA/ABV, CFA, CBA
Director of Valuation Services
614.947.5212
David L. BookbinderProfessional Biography
Mr. Bookbinder joined GBQ Consulting in 2012 and leads our East Coast Practice. Prior to joining the firm, Mr. Bookbinder was a Director with BDO Valuation Advisors, LLC. With over 25 years of experience, Mr. Bookbinder has a diverse background of corporate finance consulting with particular expertise in the area of financial valuation. He has conducted valuations of the securities and intangible assets of public and private corporations under ASC 820, 805, 350 and 718 for various purposes including acquisition/divestiture, fairness opinions, reorganizations, solvency opinions, recapitalizations, estate planning, and regulatory compliance. He has prepared valuations of business enterprises, capital stock and stock options for purposes such as mergers and acquisitions, recapitalizations and S-Corporation conversions. In his capacity at BDO, Mr. Bookbinder was also responsible for the review of the valuations prepared by other experts on behalf of the accounting practice clients. During his career, Mr. Bookbinder has also provided financial advisory services to client companies for strategic planning purposes including buy-side and sell-side M&A, private placements of senior debt, securitization of lease and loan receivables, and pre-acquisition purchase price allocation analysis. Mr. Bookbinder is a frequent speaker and participant on expert panels with regard to valuation services.
Prior to joining BDO Valuation Advisors, Mr. Bookbinder was a Vice President with Management Planning, Inc. in Princeton, NJ, where he was an integral part of the development and implementation of the firm’s corporate valuation practice. Previously, Mr. Bookbinder was a Vice President with Fairmount Partners, a middle-market investment banking firm, where he provided emerging growth companies with strategic and financial advisory, mergers and acquisitions, business valuation and private placement services.
Mr. Bookbinder’s valuation and financial advisory experience also includes CBIZ Valuation Group, Inc., where he was a Senior Manager in the Northeast Region’s financial valuation practice; and CoreStates Capital Markets, where as a Vice President he directed private placements of senior corporate debt and asset-backed securities, conducted merger and acquisition analysis, and provided business valuation services.
In 2014, Mr. Bookbinder was recognized with the SmartCEO Executive Management Award.
Education:• MBA - Drexel University (Finance)• BBA - Temple University (Economics)
Professional Accreditation:• ASA - Accredited Senior Appraiser
Associations and Memberships:• American Society of Appraisers• Greater Philadelphia Senior
Executive Group• Philadelphia Estate Planning
Council
David L. BookbinderASA
Director, Valuation Services
215.568.2306
Matthew L. KatzeffProfessional Biography
Mr. Katzeff joined GBQ Consulting in 2014 and is located in our New York office. Since beginning his career at The Blackstone Group, Mr. Katzeff has developed a successful 20+ year career predominantly focused upon Mergers & Acquisitions advisory, Private Equity sourcing and execution, Valuation and Real Estate across a board array of industry sectors, sizes and corporate situations, including public and private entities, family-owned situations, joint ventures, corporate partnerships, real estate and defense from hostile acquisitions. Since his tenure at Blackstone, Mr. Katzeff was a member of the M&A teams at SBC Warburg Dillon Read (currently UBS), Credit Suisse First Boston and Peter J. Solomon Company.
Mr. Katzeff then became a Vice President with North Atlantic Trading Company, focusing on the sourcing and execution of both stand-alone and “bolt-on” private equity investments, primarily within the consumer products sector. He was also responsible for the financing and refinancing of a number of the company’s investments and acquisitions, including the arrangement of senior debt facilities and high-yield offerings, as well as the ongoing valuations of existing portfolio companies, the evaluation of future strategic initiatives from both an operational, as well as a tax perspective, and the valuation and evaluation of potential new investments and acquisitions.
Mr. Katzeff then became a Managing Director with J Giordano Securities Group, an investment banking boutique in which he focused upon the development, strategy and execution of debt and equity capital transactions as well as M&A across a number of industry sectors. Prior to joining GBQ, Mr. Katzeff was appointed the Head of M&A and Managing Director at Ashir Group, a boutique investment bank predominantly focused upon real estate and Chinese companies who wish to access the American capital markets or require other US investment banking services, such as M&A. Mr. Katzeff’s experience at both bulge-bracket institutions as well as boutique investment firms have given him a unique and very well-rounded perspective enabling him to be truly value-added with respect to valuation, investment, and corporate strategy and development, while maintaining a very strong sense of creativity and objectivity.
To date, Mr. Katzeff has closed transactions amounting to an aggregate value of over $22 billion and possesses a deep rolodex of both corporate as well as private equity contacts across a wide breadth of industries and sizes. Sectors in which Mr. Katzeff has operated include technology, media, telecommunications, consumer products, retail, green technology, business process outsourcing (“BPO”), teleservices, IT services, aerospace & defense, healthcare, building materials, gaming, enterprise software, financial institutions, natural resources, alternative fuels, real estate, lodging, and general industrial & manufacturing. Furthermore, in addition to his substantial domestic and global experience, he has developed significant experience with Chinese companies who wish to access the American capital markets or require other US investment banking, valuation or advisory services, such as M&A. His strengths include highly sophisticated valuation, strategic and financial advisory capabilities, deal origination and business development, transaction execution, analysis and exceedingly strong technical capabilities.
Throughout his career, Mr. Katzeff has conducted valuations of public and private corporations, other legal entities, and real estate across a broad scope of sizes and situations, as well as their respective securities and intangible assets for various purposes including fairness opinions, mergers & acquisitions, strategic combinations, divestitures, spin-offs, joint ventures, reorganizations, recapitalizations, leveraged buyouts, management buyouts, ESOP valuation and implementation, estate planning, and regulatory compliance. To date, he has issued fairness opinions for transactions with an aggregate value in excess of $10 billion.
Mr. Katzeff is Series 7, 63 and 79 licensed and is also proficient in Spanish and Japanese and learning Mandarin.
Education:• BS - Cornell University
Associations and Memberships:• Financial Industry Regulatory
Authority
Matthew L. Katzeff
Director, Valuation Services
212.984.0701
Joseph R. BorowskiProfessional Biography
Mr. Borowski is a Director in the valuation and financial opinion services department of GBQ Consulting LLC. He has performed or contributed to over 700 valuation assignments since joining GBQ in 2005, for the following purposes: estate and gift taxation, Employee Stock Ownership Plans, purchase price allocation in accordance with ASC 805, goodwill impairment testing in accordance with ASC 350, C-Corporation to S-Corporation conversions, litigation support, dissenting shareholder opinions, fairness opinions, divorce proceedings, mergers and acquisitions, segment spin-offs, buy-sell agreements, and promissory notes. In addition to business appraisals, Mr. Borowski serves as editor for GBQ’s Business Valuation newsletter and has graded candidate exams for acceptance into NACVA, a leading national valuation association.
Mr. Borowski’s experience includes business appraisals of entities in numerous industries, including: industrial manufacturing, wholesale/distribution, fabrication, retail, construction, healthcare services, computer software, insurance, advertising/marketing, engineering/architecture, professional services, technology, food service, and holding company/estate planning vehicles. The majority of Mr. Borowski’s appraisal experience has been in the Mid-West states, including Ohio, Indiana, West Virginia, and Michigan.
Prior to joining GBQ, Mr. Borowski served in the operations department of Morgan Stanley Credit Corporation, the mortgage-lending unit of the international financial services company.
Education:• BS - Miami University (Oxford)
Professional Accreditation:• CFA - Chartered Financial Analyst
Associations and Memberships:• CFA Institute; CFA Society of
Columbus• The ESOP Association• Ohio Employee Ownership Center• Association for Corporate Growth• Estate Planning Group II of
Columbus
Joseph R. BorowskiCFA
Director, Valuation Services
614.947.5213 : Columbus
317.423.0150: Indianapolis
Gerald P. Cullins, Jr.Professional Biography
Mr. Cullins is a Senior Manager in the Philadelphia Office. With more than fifteen years of valuation experience, Mr. Cullins has analyzed and valued companies participating in a wide variety of industries. He has conducted valuations of the securities and intangible assets of public and private corporations, partnership interests and Subchapter S corporations for purposes including ASC 718/805/350/360, acquisition/divestiture, fairness opinions, reorganizations, estate planning, and regulatory compliance. Mr. Cullins has prepared valuations of business enterprises, capital stock and stock options for purposes such as mergers and acquisitions and recapitalizations. During his career, Mr. Cullins has also provided valuation advisory services to client companies for strategic planning purposes and pre-acquisition purchase price allocation analysis.
Prior to joining GBQ, Mr. Cullins was a Vice President with BDO Valuation Advisors, LLC in Philadelphia, where he provided valuation services to client companies and provided audit support in the review of a variety of third-party analyses including derivatives including SWAP, foreign exchange and oil and natural gas futures, among others. Prior to BDO Valuation Advisors, Mr. Cullins was a Manager with CBIZ Valuation Group.
Education:• BS - Richard Stockton College
Gerald P. Cullins, Jr.
Senior Manager, Valuation
Services
215.568.2307
Craig T. HickeyProfessional Biography
Mr. Hickey is a Senior Manager in the valuation and financial opinion services department of GBQ Consulting LLC. He has performed or contributed to over 300 valuation assignments for the following purposes: estate and gift taxation, Employee Stock Ownership Plans, purchase price allocation in accordance with ASC 805, goodwill impairment testing in accordance with ASC 350, stock option valuation in accordance with ASC 718, buy-sell agreements, fairness opinions, solvency opinions, and mergers and acquisitions.
Mr. Hickey’s experience includes business appraisals of entities in numerous industries, including: industrial manufacturing, wholesale/distribution, fabrication, retail, construction, computer software, engineering/architecture, professional services, technology, airline, pharmaceutical, and holding company/estate planning vehicles.
Prior to joining GBQ, Mr. Hickey was a Senior Analyst at Stout Risius Ross, Inc. and Barnes Wendling Valuation Services, specializing in valuation for financial reporting and transaction advisory.
Education:• BSBA - The Ohio State University (Finance)
Professional Accreditation:• CFA - Chartered Financial Analyst
Associations and Memberships:• CFA Institute; CFA Society of
Columbus• The ESOP Association• Association for Corporate Growth
Craig T. HickeyCFA
Senior Manager, Valuation
Services
614.947.5315
Kelly C. NollProfessional Biography
Ms. Noll is a Manager in the valuation and financial opinion services department of GBQ Consulting LLC. Her experience includes over 150 valuation engagements involving businesses, business interests, and intangible assets of privately held and publicly traded companies. These engagements have been performed for numerous purposes including estate and gift taxation, business succession planning, purchase price allocations, goodwill impairment testing, mergers and acquisitions, ESOP valuations and consulting, buy-sell agreements, stock option grants, shareholder disputes, and other tax, litigation, and corporate-related matters.
Ms. Noll is a frequent author and speaker on topics related to valuation, ESOPs, buy-sell agreements, transactions, and other related topics.
Prior to joining GBQ, Ms. Noll was an Assistant Vice President at National City Bank, where she worked as a commercial lending officer and underwriter, specializing in cash flow and asset based loans to national retailers.
Education:• BBA - Ohio University
Professional Accreditation:• CFA - Chartered Financial Analyst
Associations and Memberships:• CFA Institute; CFA Society of
Columbus• Worthington Estate Planning
Council• The ESOP Association• Association for Corporate Growth
Kelly C. NollCFA
Manager, Valuation Services
614.947.5227
Eric B. DollinProfessional Biography
Mr. Dollin is a Manager in the business valuation and consulting services department of GBQ Consulting LLC. He has performed or contributed to over 300 valuation, merger and acquisition, and forensic/litigation assignments during the last four years for the following purposes: estate and gift taxation, Employee Stock Ownership Plans, purchase price allocation in accordance with ASC 805, goodwill impairment testing in accordance with ASC 350, fairness opinions, C-Corporation to S-Corporation conversions, transaction advisory, mergers and acquisitions, calculation of economic damages, dispute advisory, buy-sell agreements, and promissory notes.
In addition to business appraisals, Mr. Dollin regularly grades and prepares questions for candidate exams for acceptance into the National Association of Certified Valuation Analysts (NACVA), a leading national valuation association.
Mr. Dollin’s experience includes business appraisals of entities in numerous industries, including: industrial manufacturing, wholesale/distribution, oil and gas, fabrication, retail, construction, healthcare services, banking, computer software, insurance, automotive, advertising/marketing, engineering/architecture, professional services, technology, food service, and holding company/estate planning vehicles. The majority of Mr. Dollin’s appraisal experience has been in the Mid-West states.
Education:• BS - Miami University (Oxford) (Finance and
Statistics)
Associations and Memberships:• CFA Institute• The ESOP Association• Young Professionals of Central
Indiana
Eric B. Dollin
Manager, Valuation Services
317.423.9306