Program produced by XPX New York 

Using Delaware Statutory Trusts for 1031 Exchanges

Real Estate is one of the more commonly held investments across all types of investors including many small to medium size business owners. As a result, many of the professionals within the XPX community are familiar with the concept and powerful tax benefits of 1031 Exchanges

However, how many are familiar with a passive and potentially more efficient 1031 Exchange solution such as Delaware Statutory Trusts (DST’s)? These passive 1031 Exchange strategies will be the focus of our discussion and what XPX members will find useful when advising clients selling real estate or more specifically those selling businesses that might not want to actively manage real estate going forward.

Meet our Speaker:

James Child, Advisor - Third Seven Capital (TSC)

James is currently an advisor with Third Seven Capital (TSC). TSC is an alternative investment firm in New York City and James leads the firm’s efforts in 1031 Exchange Solutions and other real estate alternatives. Prior to joining TSC, James spent twelve years with the Credit Suisse Private Bank’s Fixed Income Group. During his career at the bank he was a fixed income credit specialist and helped manage an almost $30 billion cash management business. He left the bank as a Director and holds both his Series 7 & 63. He is also a licensed NJ Real Estate Agent. James obtained his Bachelors of Science in Management from Tulane University’s AB Freeman School and his MBA from NYU’s Stern School of Business with a focus on International Finance and Economics.

 A Client Case Study Produced by XPX Atlanta

Effectively preparing to sell a business requires different approaches based on the time horizon a company has prior to a transaction. Business owners should take defined actions early on, mid-way through, and even in the late stages to get ready for a buyer’s comprehensive assessment to increase their chances of a successful sale. Join our panel of experts as they illustrate practical best practices to prepare for an exit within the context of a real-world case study. 

Video below. Click here to download the case study for the breakout discussions. 

Moderator:

Perry Walter - Senior Vice President & Investment Counselor - Capital Group Private Client Services

Perry works directly with high net worth individuals and families to design customized plans for protecting and growing their wealth, often across multiple generations and also helps nonprofit foundations and endowments. Prior to joining Capital Group, Perry spent more than nine years as managing director at HDH Advisors, a business valuation and M&A advisory firm. Earlier in his career, he founded and managed two businesses and a venture capital consulting firm focused on the wireless, networking and data communications industry. Prior to that, Perry was a senior vice president at the Robinson Humphrey Company and an analyst at Raymond James Financial. Perry is a CFA® charter holder and has served as a director of the Southern Capital Forum for the last two years.

Panelists:

Michael L. Van Cise – Partner - Private Wealth Practice - Arnall Golden Gregory LLP

Michael guides families and individuals of high net worth through sophisticated wealth transfer planning, federal and state wealth transfer taxation, business succession planning, charitable giving, and probate and estate administration. Michael works with family-owned and closely held business owners on business succession planning and liquidity planning. He advises clients on shareholders agreements, lifetime gifting, life insurance planning, and management and control transition. His experience also includes estate planning for non-resident aliens and international wealth transfer planning.

Bridgette Boucha – Founder – The Betterment Project

Bridgette is a seeker of expansion. As a CPA, former corporate CFO, she realized after 15 years in her traditional corporate career that this path no longer served her. She founded The Betterment Project with one concept in mind: Make Measurable Progress. As a profitability coach, she helps small businesses and individuals optimize their resources in order to live in greater abundance. In her most aligned state, she is enthusiastically coaching, speaking, writing, and facilitating experiences designed to elevate women who have gone through career transition and are finding light on the other side.

James Marosek, CPA, WMBO CPA Group

Business owners, including engineering and architectural firms, rely on James’ more than 25 years of experience with tax compliance, tax planning strategy, budgeting, and long-term planning. He recognizes that exit planning begins on day one. As a business owner focuses on the day-to-day, James understands their business and the importance of planning and preparing for the long-term, which he assists them to accomplish through his expertise and his extensive professional network.

Thank You to our EVENT SPONSOR!

Since our recent PPP Round Table, the SBA has issued new rules for loan forgiveness. There are so many questions and ever-changing answers about the rules of the program and how to manage this.  To help make sense of things, we’re hosting this open forum to hear from our panel the latest information on the PPP in the video below (slides here) including:

• Current status of the program
• Forgiveness criteria
• What the audit will look like
• What/how to track qualifying expenses
• SBA application for forgiveness worksheet

Our panel will outline the basics but spend most of the program answering your questions.  The panelists are XPX Members who collaborate through The Transition Group:

• Steven Bankler, CPA
• John Dini, CExP, CEPA 
• James Rosenblatt, JD, MBA

Program produced by XPX New Jersey

This powerful discussion addresses the reopening process for the business community. Our discussion will be led by Christopher Collins who is Director of Executive Master of Human Resource Management Program (EMHRM) in the School of Industrial and Labor Relations at Cornell University.

Since the start of the covid crisis Dr Collins has spoken with human resources leaders at over 40 companies. He shares what he's been hearing in the video. 

Business owners are now facing the next phase of challenges as they transition to reopening while protecting the safety of their employees and customers. What are the common techniques and planning efforts that owners need to take to achieve a successful transition? Christopher has been active with the business community and various experts offering guidance and input to achieve success.

About the speaker

Christopher J. Collins is Associate Professor of Human Resource Studies and Director of Executive Master of Human Resource Management Program (EMHRM) in the School of Industrial and Labor Relations at Cornell University. He earned his Ph.D. in Organizational Behavior and Human Resources from the Robert H. Smith School of Business at the University of Maryland.

Dr. Collins' teaches, conducts research, and does consulting in the areas of strategic human resource management, the role of HR practices and leadership in driving employee engagement, and the role of HR in driving firm innovation and knowledge creation. His research has been accepted for publication in the Academy of Management Journal, Journal of Applied Psychology, Personnel Psychology, Human Resource Management Review, and Human Performance. In addition, Dr. Collins serves on the editorial boards of the Academy of Management Journal, Journal of Applied Psychology, the Journal of Management, and Personnel Psychology.

He currently teaches courses in Human Resource Management, Organizational Consulting, and Business Strategy to masters and undergraduate students in the ILR School at Cornell University. Dr. Collins has taught executive development programs at Cornell University and the Society of Human Resource Management. He has also worked as a private HR consultant or conducted executive development programs to multiple Fortune 500 organizations and several startup organizations. His consulting work has primarily focused on talent management, employee engagement, and strategic HR planning.

We’re at a crucial moment with the PPP program as companies in the first round of financing are reaching the end of their eight-week expense period. There are so many questions and ever-changing answers about the rules of the program and how to manage this.  To help make sense of things, we’re hosting this open forum to hear from our panel the latest information on the PPP including:

• Current status of the program
• Forgiveness criteria
• What the audit will look like
• What/how to track qualifying expenses
• SBA application for forgiveness worksheet

Our panel will outline the basics but spend most of the program answering your questions.  The panelists are XPX Members who collaborate through The Transition Group:

• Steven Bankler, CPA
• John Dini, CExP, CEPA 
• James Rosenblatt, JD, MBA

Video from this program is below. Slides are here. We will also send the sample spreadsheet next week after a few updates. Thanks all!

Program produced by XPX Philadelphia

WHAT ARE PRIVATE EQUITY GROUPS

LOOKING FOR NOW IN DEAL FLOW?

Instincts and experience suggest that it will be difficult to close deals for the next several months. Currently, many of us in the XPX community have noticed what appears to be an aggressive outreach by PE firms. XPX is going to have a discussion with two business development professionals from leading mid-market private equity groups. We are going to explore whether this phenomenon is real and if so what is driving it. As advisors, what should we tell our clients about all of this outreach.

Please join us for a lively discussion with our guests:

• Jason Cunningham, Vice President of Business Development at Argosy Private Equity http://www.argosyprivateequity.com/team/
• T.J. Haas, Managing Director of Business Development at Eureka Equity Partners https://www.eurekaequity.com/team/.

Program produced jointly by XPX Fairfield County and XPX Hartford

You know the saying – value is the price negotiated between a willing buyer and a willing seller. So how are buyers in the lower middle market approaching valuation in this new world?

• What is changing in their valuation models?
• Are EBITDA multiples going to be adjusted?
• Will deal structures change?
• Will there be Covid add-backs?
• What will it take to complete transactions in 2020 and beyond?

For answers to these question we have assembled a panel of three Private Equity buyers, moderated by Ken Pia, the leader of the Business Valuation Industry group at Marcum.

Moderator:

Kenneth J. Pia, Jr., Parter - Business Valuation Industry Leader

Kenneth J. Pia, Jr. is a partner and the leader of the Business Valuation Industry group. With more than 30 years of professional business valuation and litigation support experience, Ken has developed a national reputation working on a wide range of complex valuation engagements. He has performed valuations of businesses and partial business interests for a variety of purposes including, but not limited to, family law matters, employee stock ownership plans, business damages, buy-sell agreements, shareholder litigation, estate and gift tax matters, and buying and selling businesses.

Adam Fitzner, Managing Director - HRCP

Adam Fitzner joined HRCP in 2017 and has led transactions, overseen portfolio company investments, and is a member of the Investment Committee. He currently serves as director of Inspire Automation and American Roller. He has previously served as a director of several other privately owned and sponsor-backed businesses. Prior to joining HRCP, Adam worked for Corinthian Capital conducting all aspects of middle market investments, including growth and operational improvement initiatives. He began his career as an investment banker with Evercore, Miller Buckfire, and Houlihan Lokey. Adam earned a dual B.S. in Finance and Marketing from Lehigh University and an M.B.A. from the Johnson School at Cornell University where he was a Park Fellow.

Kyle P. Madden, Partner - KLH Capital

Kyle is a Partner with KLH Capital and is primarily responsible for identifying, structuring and executing transactions, due diligence, and portfolio management. He serves on the Board of Directors for BMI Merchandise. Prior to joining the private equity group in 2009, he was involved in a variety of brokerage-related capacities within the wealth management and insurance industry. An active member of the M&A industry, he has served on the Board of Directors of the M&A Source, was the 2013 chairman of the Alliance of Merger & Acquisition Advisors (AM&AA), and is asked to speak regularly at industry-related events and conferences.

Kyle is a native of Amherst, New Hampshire. He graduated from the University of Tampa’s John H. Sykes College of Business with a Bachelor of Science degree in Finance. He enjoys fishing, boating, snow skiing, and spending time with his wife, Christine, and son, Grant.

Lamar Stanley, Vice President - Gen Cap America.

Before joining Gen Cap in 2016, Mr. Stanley was with Diversified Trust Company, a Nashville-based wealth management firm where he worked in their private-equity strategy group. Prior to Diversified Trust Company, Mr. Stanley served as an Intelligence Officer in the United States Navy. He holds a B.A. degree from The University of the South, in Sewanee, TN and an M.B.A. from The University of Chicago.

Program produced by XPX New York

Thinking about short-term planning in the context of long-term recovery. How should businesses make short-term decisions that allow them to stabilize their businesses while making sure they can take advantage of the eventual recovery?

Steve Ronan will review a framework for stabilizing, prioritizing, and positioning a business’ operations in this time of uncertainty and share proprietary research about where companies in the middle market stand on crucial aspects of their decision making right now.

Meet our Speaker:

Steve Ronan, Principal and Consulting Practice Leader

Steve Ronan is a Principal and the leader of Citrin Cooperman’s Strategy & Business Transformation and Outsourcing Practices. He specializes in the theory and execution of improving business value. Steve has partnered with a range of companies, from Fortune 100 to middle-market, to develop and implement strategies that improve profitability, create scalable businesses, and strengthen customer relationships. His projects have created over $100M in value through top-line growth and bottom-line savings. Steve’s experience includes strategic planning, process improvement, and organizational transformation. Previously, Steve owned a boutique consulting firm and was a senior manager at Deloitte Consulting.

Program produced by XPX Atlanta

COVID-19 is the latest challenge affecting the trajectory of business exits. Destabilizing events and the related uncertainties affect the path and approach for achieving successful exits and protections must be tailored to the changing transactional environment. Join our panel of legal experts for a focused review of how present-day challenges are affecting the three Ds: deal structure, deal agreement and due diligence.

Video includes Post Meeting Q&A Session

Moderator

Jeff Leonard – Cohen Pollock Merlin Turner, P.C.

Jeff serves as outside general counsel to Georgia-based privately-held companies and family businesses who seek a trusted strategic advisor who is able to react to and anticipate their legal needs. Jeff's practice focuses on corporate and transactional matters involving business owners and the operational aspects of their companies. He routinely handles corporate and transactional matters such as the selection and formation of business entities, venture capital investments and private equity offerings, business consolidations, asset sales, mergers and acquisitions, preparation of shareholder, partnership and limited liability company agreements, succession planning, buy-sell agreements and exit planning.

Speakers

Rob Swartwood - consilium

Rob is a corporate attorney and outside general counsel to small and middle market businesses. He leverages over a decade of experience with large law firms – representing strategic and financial acquirers in mergers, acquisitions and other transactions – to assist business owners with successful exits. Rob founded and is the Managing Member of consilium, a concierge law firm providing comprehensive corporate counsel to businesses that have no general counsel. Rob is a true counselor and trusted advisor for owners, executives and boards of directors throughout the Southeast, and his methodical problem-solving approach, commitment to excellence, and passion for service have distinguished him as a value-added partner in the exit planning ecosystem. Prior to becoming an attorney, Rob was an Army officer with fourteen years of service including multiple overseas tours. He is a West Point graduate and a two-time recipient of the Bronze Star Medal.

Ian Platt – Freed Grant LLC

Ian J. Platt is a Partner with Freed Grant LLC. Ian is a business attorney, with more than 20 years of diverse experience representing clients in organizational formation and governance, mergers and acquisitions, debt financing, leasing, licensing, vendor and sales contracts, workouts, restructurings, distressed sales and wind downs, employment agreements, compliance and more. He has assisted clients from solo startups to Fortune 100 corporations in the finance, technology, healthcare, manufacturing, retail, business services, and other sectors. Ian’s broad experience includes prior practice at an Am Law 100 law firm and in-house at a major finance company.

Thank You to our EVENT SPONSOR! Consilium

Program produced by XPX Chicago

There is still ambiguity regarding the process of spending Paycheck Protection Program (PPP) loan funds during the 8-week period of receiving the funds. This has left borrowers wondering, how can I become eligible for loan forgiveness?

In this webinar we'll discuss how your PPP loan funds should be spent and how they should be tracked so your loan can become eligible for forgiveness. 

This is an unprecedented time in our country's history and economy. Don't miss this opportunity to learn how to maximize your PPP loan funds so you can receive the most loan forgiveness.

Thanks to our great presenters:

Gene Barinholtz, CPA, Partner & Shareholder

Gene manages KRD's Outsourced Accounting Services group. His substantial knowledge of accounting and business enables him to advise clients on a wide array of financial concerns, including tax strategies, tax incentives and entitlements, business consulting and litigation support. He began his career in corporate accounting, moved to a small CPA firm and started his own firm in 1987. Gene graduated from Northern Illinois University with a Bachelor of Science in Accounting. He is a Certified Public Accountant and a member of the AICPA and Illinois CPA Society.

Paul Wilkin, CPA, Tax Manager

Paul has over 30 years in public accounting. He is a Certified Public Accountant licensed in the state of Illinois. Paul has extensive experience working with small to medium-sized businesses and their owners. He attended the University of Illinois, where he earned his bachelor of science in accountancy. He then went on to earn a master’s degree in taxation from DePaul University.

See full video below. The PPP program slides are here.