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David Norman & Associates

*  Business Valuations

    Questions to Ask
  1. Do you have a shareholder buy/sell agreement, or is the existing agreement out-of-date with respect to determination of value?
  2. Are you interested in selling the company, or a part interest:  Is there an interest in acquiring your company?
  3. Do you want to transfer/gift shares to heirs or others?
  4. Are shareholders/management interested in value-based planning?

    Description of Service
    A systematic process whereby the value of a business, or identifiable segment, is determined.

    Benefits
  • An independent, objective valuation based on the current (or "as of") date
  • Proven, standard methodologies and a reconciliation of the differences
  • Conclusions regarding value taking into account appropriate discounts for lack of marketability and lack of control

    Examples

    The General Manager of a high nd hosiery firm desired to purchase the president's interests and to begin a process of upgrading equipment and facilities. Results -- The valuation served as a starting point for negotiations with the added benefit of highlighting how much shareholder value had been lost over time due to poor management.

    The majority of shareholders in a computer hardware/software integrator wanted to sever ties with a disgruntled minority shareholder. Results -- The valuation established a price to purchase the minority interest and remove the shareholder's interference in day-to-day operations.

    Changes in the medical industry deterring self-referrals pressured an orthopedic practice to value its physical therapy practice segment. Results -- Once a range of values were determined, negotiations focused on real and perceived value to the prospective purchaser gaining the highest sale price received locally for a physical therapy practice.

    A former principal in a ladies lingerie manufacturing firm died, leaving a minority interest to his spouse who needed a value for the estate. Results -- The valuation provided an opinion sufficient for IRS purposes.


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