Let’s Refresh: Purposes and Content of Business Valuation Reports sponsored by KIKO Realtors, Auctioneers & Advisors

Date: Tuesday, March 14, 2023
Time: 11:30am - 1:30pm
Location: Union Club and Zoom
Speaker: Matthew Hricko and Patrick Polomsky

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If attending in person, please arrive at 11:30 am for networking time in advance of lunch. Lunch will be served at noon with the meeting beginning at 12:20 pm.
If attending virtually, the webinar session will begin at 12:20 pm.

About the Program
For family-owned companies, succession planning is typically an important, and sometimes complex, issue that requires an assessment of the value of the business under various exit strategy or planning options. These issues typically require the assistance of legal counsel and other advisors who are oftentimes given the responsibility by their clients to coordinate a current view on the valuation of the business from an independent advisory firm. The purposes for a board of directors or legal counsel to consult with an independent advisory firm for a valuation analysis vary widely based on the facts and circumstances, although common reasons include a strategic assessment of exit planning or capital structure alternatives, gift and estate tax planning, succession planning, the issuance of synthetic equity, an inbound indication of interest, or structuring of a buy-sell agreement. This presentation will provide helpful information for the audience to consider when reviewing the business valuation process by providing an overview on several key areas worth discussing, including the engagement letter process, reviewing the engagement objectives, standards of value, business valuation fundamentals, common valuation approaches, valuation discounts and premiums, as well as other practical tips.

About the Speakers

Matt Hricko is a Managing Director at Stout where he leverages 15+ years of financial advisory experience to provide investment banking and valuation consulting services to companies primarily for transaction advisory, shareholder planning, and annual reporting purposes. More specifically, Mr. Hricko has built an expertise on projects involving interests held by Employee Stock Ownership Plans (“ESOPs”), including consulting and analyses related to formation, sell-side transaction advisory, determination of transaction fairness, and annual valuations. Having worked on over 800 projects in his career, he brings extensive public and private middle market experience to the firm. In addition to his practical experience, Matt serves as Stout’s Cleveland office leader where he is tasked with growing the office and leveraging and collaborating with other members and their different focus areas across Stout’s various service lines.

Patrick Polomsky is a Director at Stout also with the Valuation Advisory group. He has 10+ years of experience providing a broad range of business valuation and financial advisory services for public and private enterprises, with a primary focus within the firm’s Trust and Estate Valuation practice. His experiences cover a broad range of industries for a variety of purposes, including estate and gift taxation, income tax requirements, shareholder and succession planning, buy-sell agreement consulting, shareholder disputes, and other tax, corporate, and litigation related matters. He specializes in Fair Market Value engagements involving closely held business interests, FLP/LLC valuation discount analyses, restricted stock and blockage discount opinions, personal goodwill valuations, preferred stock valuations, promissory note valuations, and Subchapter C to S conversions.

Michael Wear, Esq., AEP® │ 2022-2023 Program Chair

Continuing Education – EPC Cleveland will request approval for this program from the CFP® Board of Standards for CFP® designation holders and from the Supreme Court of Ohio for Ohio attorneys to receive CLE credit. A certificate of completion will be available for those AEP®, CPA, and CWS designees who feel the program satisfies their continuing education requirements.  

Reservation Policy

IN PERSON: All attendees are encouraged to register in advance and walk-in reservations will be accepted on a space-available basis only.  The meeting cost is $35 for members when paid in advance before noon 03/13/23, $50 for members at the door, $50 for guests, and $210 for a table of six (can be mix of members and non-members - please submit names to admin@epccleveland.org by 03/10/23).  If you reserve and are unable to attend, please call the office to cancel by noon 03/13/23 to avoid a no-show reservation billing.

VIRUTAL: All attendees must register in advance. The meeting cost is $10 for members and $15 for guests. You will receive login credentials with your registration confirmation email.    

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