Program produced by XPX Long Island.

It's Back! A Long Island Case Study for 2020-2021

As you know by now, XPX is a multi-disciplinary community of professional advisors who work collaboratively to help owners build valuable businesses and assist them in preparing and executing a successful transition.

As an association of seasoned advisory professionals for business owners and their companies, we are all focused on delivering the highest level of subject matter expertise to our clients. However, none of us can work in a vacuum; each of us are part of a collective team effort that has to encompass a holistic approach to our clients and their needs. Each client is unique, as are the facts and circumstances surrounding each of our engagements. As a result, there are no standardized answers or ‘cookie-cutter’ solutions.

With this in mind, XPX Long Island has attempted to create a ‘typical’ case of a business owner and some (but certainly not all) of the issues that the owner is facing. We will be using this as our ‘client’ for this program year and will be building upon this case for each XPX-LI event this year so that there is consistency and continuity throughout the year. The full case study will be sent in advance and our first session will cover:

• Case Introduction / Identifying the Core Issues
• Creating a Strategic Plan to Maximize Value

Our Panel:

Diane Johnston
Financial Advisor, Bernstein Private Wealth Management

Diane Johnston is a Vice President and Financial Advisor at Bernstein Private Wealth Management in the New York office. Diane’s focus is offering institutional quality wealth management to entrepreneurs, families and institutions, as well as their respective trusts, estates, foundations, endowments and pension plans. Before joining the firm in 2018, she was a director and senior investment leader at Willis Towers Watson, a global consulting firm. Prior to consulting, Diane was a director at WHV Investments, a VP at OppenheimerFunds, and a director at Fidelity Management & Research. Her 20-plus year career in capital markets also included roles in investment banking, trading and private offerings. Diane holds a BA in economics from Sewanee: The University of the South, and an Executive Certificate in business administration from the Mendoza College of Business at the University of Notre Dame.

Gershon Morgulis
Principal, Imperial Advisory - Outsourced CFOs and Consultants

Gershon is the founder and principal of Imperial Advisory - Outsourced CFOs and Consultants. As an Outsourced CFO, Imperial Advisory serves as the financial strategist and helps businesses make more money while reducing risk. They look at the business holistically, take on the role of and act as advisors to the CEO/owner, and point management in the right direction, assisting company leadership in making more educated financial decisions for their business. In addition, Gershon is an Adjunct Professor of Finance at Touro College where he helps mold the next generation of business students.

Program produced by XPX Maryland.

Navigating Maryland's Business Climate

Please join us as Duane Carey, President of Maryland Free, provides a no-holds-barred view of Maryland politics and discusses business-related bills that passed the 2020 Session of the Maryland General Assembly. Duane will outline how these bills will impact business in Maryland now and in the future.

Founded in 1983 as Maryland Business for Responsive Government, the organization changed its name to The Maryland Free Enterprise Foundation (“Maryland Free”) in 2019. Maryland Free is a statewide, nonpartisan political research and education organization supported by corporations, trade associations, chambers of commerce, small businesses, and individuals, and is dedicated to improving the business climate and job creation in Maryland. Maryland Free’s members range from national corporations like McCormick and AT&T to regional concerns like Katz Abosch and Merritt Companies to small “mom-and-pop” businesses.

Along with his leadership role at Maryland Free, Duane Carey is the owner and lead strategist of IMPACT Marketing & Public Relations, a 15-year old digital marketing company with clients from California to India. Duane holds an MBA in Corporate Finance from Johns Hopkins University and lives in Howard County with his wife and three teenagers.

Program produced by XPX Philadelphia.

Small and Micro Business Valuation Under Covid-19

Cover ways to calculate micro and small business value during times of increased risk and uncertainty. Covid-19’s effects on the economy has magnified risk and uncertainty for small business – making the job of valuators more difficult.

The program will dive into problematic areas of actual small business valuation cases to review theory and tie it into the actual application of methods using best practices and professional judgment. This webinar will be hands on with audience questions and succinct opinions welcomed.
 

Our Speaker:

Gregory R. Caruso, JD, CPA,CVA (Partner at Harvest Business, LLC)

Gregory R. Caruso, JD, CPA, CVA, is a Partner at Harvest Business, LLC. His unconventional career path gives him a unique perspective on, and expertise in, business valuation. Having served as a business valuator with 100’s of small business, a business broker responsible for 60+ transactions, a real estate broker for 30+ years, a transactional attorney, and a serial business owner, he understands the topic from a variety of viewpoints. He also serves as Editor-In-Chief of Around the Valuation World, the National Association of Certified Valuators and Analysts’ monthly business valuation continuing education webinar.

Program produced by XPX Tri-State.

Post-Election Analysis

XPX Tri-State - covering New York (New York City & Long Island), Connecticut (Fairfield & Hartford), and New Jersey - meeting with core coverage areas including:

The state of the economy and business environment, nationally and regionally.

Wealth planning, the corresponding tax implications and how the specific factors play into the merger & acquisition environment as we close out 2020 and leading into 2021.

Please join our line-up of experts for this ‘rapid Fire” format:

Introduction: 
  Ramsey Goodrich, XPX Tri-State Chairman
  Managing Partner at Carter Morse & Goodrich 

Economic & Business Outlook: 
   Key Note Speaker:
   Philip J. Lane, Fairfield University 

Estate Taxes: 

   Panelist:
   Michael Clear, Wiggin Dana

Wealth Management: 
   Panelist:
   Michael Delgass, Wealthspire

Corporate Taxes: 

   Panelists:
   Eric Mauner, BDO

M&A Environment: 
  Panelists:
  Steve Pappas, Touchstone
  Mike Richmond, DAK Group

Program produced by XPX New England.

Planning with Uncertainty

Post-election 

Following a polarizing election season and the potential for a “blue wave” there is heightened uncertainty around the outlook for business and personal tax policy as well as corresponding sale and succession planning. Join XPX NE for a panel discussion about the potential impact of the elections and what planning opportunities exist amid the uncertainty.

The panelists will help business owners and advisors assess:

• What policy changes are likely and which ones will have the biggest impact on business owners?
• What can owners and business advisors accomplish before year end?
• What are sensible long term or strategic planning considerations given the future uncertainty of policy changes and the business environment?
  

  
  

Moderator

Trammel Martin, UBS Private Wealth Management

Panelists

Melissa Sydney, Tarlow Breed Hart & Rodgers

Travis Blais, Blais Halpert Tax Partners, LLP

Shane Lieberman, UBS US Office of Public Policy

Program produced by XPX Atlanta.

Seeking Capital: Debt and Equity Options 

An XPX Atlanta panel on Seeking Capital in a post-Covid environment. There’s no question that the cost, amount and availability of debt & equity have changed in 2020. Moderated by @Bob Tankesley, join panelists @Jason Sleeman, @Phillip Williams and @Jamie Elias for fascinating perspectives on the how to help your clients avoid mistakes and get ready for the capital they need.

Why Join Us?

• New and interesting ideas to implement and share
• Keep up to date on building value, exit and succession
• Our unique, curated roundtable format
• Gain an appreciation of the power of the XPX Advisor Principles!

Our Panel:

Bob Tankesley MBA CPA, Principal - Neri Capital Partners

A CPA and 4th generation entrepreneur, Bob thoroughly enjoys helping owners of closely-held businesses culminate their long-term efforts in a successful sale transaction. Bob’s 20-year track record has led to focus on sectors such as industrial, manufacturing, healthcare, IT, B2B and professional services. He is also a Co-Founder of XPX Atlanta and presents to many different professional audiences.

Jason Sleeman, Vice President – Craft Beverage Lending at United Community Bank

Jason Sleeman leads the national craft beverage lending vertical for United Community Bank. His focus is on providing strategic growth to breweries, wineries, and distilleries through leveraging debt as a funding source. By being a financial partner for these companies they can strategically grow their production operations to achieve maximum business growth.

Phillip Williams, CEPA, President - P&P Business Solutions

Phillip Williams established P & P Business Solutions, as a Principal Consultant after a 30-year commercial banking career with both national and community banks. Phillip leverages his knowledge and experience to provide expert coaching to help his clients navigate the ever-changing financial market, to improve cash flow, establish working capital and grow their business.

Jamie Elias, Partner - Trivest Partners

Trivest was founded in 1981 and has $2.0+ billion in assets under management. Mr. Elias is involved in all aspects of the firm, including the origination of founder and family-owned investment opportunities, completing acquisitions, portfolio oversight and overall firm management. He oversees Trivest Growth Investment Fund which focuses on making growth and non-control investments in founder/family owned business.

Program produced by XPX Fairfield County and XPX Hartford. 

The heart of XPX is the inter-disciplinary nature of exit planning. As advisors to business owners we understand that it takes a team of experts working together to navigate a successful exit. Working in the middle and lower middle market, no matter our own discipline, we’ve heard tales of businesses in need of serious improvements to their financial management and reporting systems to appeal to buyers and to maximize value. Please join us as we dive below the surface with a case study that will deepen our knowledge of the roles of financial management and accounting in the exit process.

• What issues can delay or scuttle a deal? What are the remedies?
• What are the red flags to be on the lookout for?
• “Before and After” a comparison of actions and results from a financial make-over
• What exactly is a “quality of earnings report” and how does it benefit the exit process?
• “Show me the money” – how can investing in good financial systems and reports impact the sale price?
• When is an audit necessary? What is involved in that process?

Our Panel:

Kevin Donovan, CPA, Fiondella, Milone & LaSaracina, LLP

Kevin has over 22 years of accounting experience, having served both in a national public accounting firm and in the financial leadership program at the Fortune 500 Corporation. Kevin has been with FML since the firm's inception and is responsible for overseeing assurance services provided to public and private technology and service industries. He also provides advisory services to public companies related to their Sarbanes-Oxley initiative, as well advisory services for both public and private companies regarding private equity and venture capital backed transactions, due diligence support and other areas of financial expertise.

Robert Pravder, Robert Pravder Consulting, LLC

Robert Pravder is an entrepreneurial, growth-oriented finance executive with a passion for managing change to position companies for long-term growth. As CFO, guided three high-potential middle-market companies, including a private equity portfolio company, through successful turnarounds. Proven track record blending finance with strategy and execution and applying a holistic view of business grounded in hands-on experience in operations, manufacturing, software development and online marketing. Unique blend of large corporate and entrepreneurial/middle market experience primarily in health & wellness, nutrition, healthy foods, eLearning and software/digital content markets.

Program produced by XPX Chicago.

Year-end Tax Planning

The final quarter of the year presents last minute opportunities for tax planning.

We will focus on a few areas:

• Purchase and expensing of equipment to be in service before year end.
• Election to be a cash basis taxpayer.
• How does PPP Loan forgiveness come into play.
• Year-end estate planning for business owners
• Planning to maximize the QBI deduction
• Cares Act provisions you should be aware of Other year end items

Program produced by XPX New Jersey.

The Election and the M&A Market 

The New Jersey chapter is excited to continue our programming year with another thoughtful and insightful meeting. Our chapter is growing and welcoming professional advisors who help business owners plan for a successful exit. As we continue to examine many of the different planning considerations and decisions an owner needs to face, our members participate in this interactive discussion. We welcome your attendance at our next meeting.

The New Jersey chapter is ready to support our members and their guests as we continue to manage through the pandemic. We have established a virtual meeting environment to allow our members to participate safely and engage with others during this time. This month our discussion will be lead by Valentina Midura, a Senior Managing Director with BDO Capital Advisors, LLC as well as Mark Borda, a Director within Citrin Cooperman’s Transaction Advisory Services. Our meeting will address the upcoming election and its impact on the M&A market. What is the current state of the M&A market and will the election impact an acceleration of transactions before year end? What should advisors know to guide their clients properly during this time? How would the M&A environment change after an election or is it business as usual? Will there be an increase pickup in deal’s closing before year end in 2020 or will many buyers subscribe to the wait and see model? Our discussion will be led by industry leaders with insight to these questions and many more.

This highly interactive session will allow for participation by attendees in a collaborative format. As an association of experienced advisory professionals for business owners and their companies, we are all focused on delivering the highest level of subject matter expertise to our clients and we would value your expertise and insights. We invite you to join us for this exciting event and for the entire series this year! Please register for this highly informative event. Final information for the Zoom webinar will be sent to all of those registered.

About Valentina Midura:

Ms. Midura is a Co-Founder and Senior Managing Director at BDO Capital Advisors with more than 20 years of investment banking experience. Ms. Midura advises privately held and family-owned businesses with transaction structures including leveraged recapitalizations, shareholder transitions, management buy-outs, exclusive sales, corporate divestitures and private placements. Ms. Midura has closed transactions in a variety of industry segments including Manufacturing & Distribution, Healthcare & Life Sciences, Business Services and Technology, Media & Telecom. Geographically, Ms. Midura is focused on managing BDO Capital’s relationships and clientele along the Eastern Seaboard.

About Mark Borda, CPA, CFA

Mark provides pre-acquisition financial diligence services and post-closing integration services to private equity and corporate acquires. Mark also provides a comprehensive offering of buy-side and sell-side financial due diligence services to his clients focusing on middle-market and lower middle-market transactions.

Mark's finance and accounting background includes extensive experience in M&A advisory, audit/assurance and industry/corporate finance related roles. Prior to joining Citrin Cooperman, Mark worked in M&A advisory at a highly-specialized financial consulting firm in Philadelphia.

Program produced by XPX South Florida.

Fireside Chat with TWO Seasoned Business Owners and Their Exit Experiences

The new XPX South Florida Chapter is excited to present a Fireside Chat with three seasoned business owners who will reflect upon their experiences exiting their well-established businesses and share the triumphs and pitfalls of their actual exits.

The event’s agenda consists of three professional advisers’ discussions with business owners, then allowing about 15mins for Q&A session.

Our Panel:

Brad Tuckman
Former Owner of Global Content Creation Network
with Vincent DeLuca, Bank of America

A photographer turned entrepreneur, Brad was classically trained to be a photographer at the Rochester Institute of Technology. Brad’s first internship was an accidental recommendation which turned out to launch his career. He went on to build the largest global content creation network by empowering creatives with integrated proprietary technology, and maximizing the creation and deployment process for global brands. Brad’s exit involved crafting a simultaneous merger and PE investment in 2015, with a final exit in August 2020 to Accenture.

Phillip Knapp
Former Owner/President Paper Brokerage and Distribution Company
with Mike Sluka, B2B CFO

A gifted, talented and roll up the sleeve entrepreneur, Phillip is known to focus on operations and finance, plus he performs turnarounds for small to mid-size businesses. A Purdue University business graduate, Phillip spent 20 years running SNEPCO Inc., a leading National Paper Brokerage/Distribution company. Philip grew revenues to $25 million and negotiated complex and lucrative outsourcing agreements with US, Canadian and Asian suppliers. Phillip’s focus is to streamline and improve operations, sales, overall growth, and profitability. Phillip is a current landowner of productive Natural Gas Wells in the State of Michigan.