Outstanding Members—Third Quarter 2017
NACVA would like to thank and recognize the following outstanding members:
Sarah von Helfenstein, MBA, CVA
A more than 30-year veteran of the start-up wars, Sarah von Helfenstein, has created, launched, and managed numbers of new initiatives inside/for established enterprises and on a stand-alone basis. For the past twenty years, she has held a variety of roles within the financial valuation sector, the last ten of which spent as a practicing business appraiser. Ms. von Helfenstein has published and presented academic papers on theoretical finance, economics, real options, and complex systems in the U.S. and internationally. She has also authored valuation courses and exams, developed valuation curricula and conferences, and edited a number of key valuation books.
Robert F. Reilly
Robert Reilly is a managing director with Willamette Management Associates. His practice includes business valuation, forensic analysis, and financial opinion services.
Mr. Reilly has performed the following types of valuation and economic analyses: economic event analyses; merger and acquisition valuations; divestiture and spin-off valuations; solvency and insolvency analyses; fairness and adequacy opinions; ESOP formation and adequate consideration analyses; private inurement/intermediate sanctions opinions; acquisition purchase accounting allocations; reasonableness of compensation analyses; restructuring and reorganization analyses; tangible asset/intangible asset intercompany transfer price analyses; and lost profits/economic damages analyses.
He has prepared these valuation and economic analyses for the following purposes: transaction pricing and structuring (merger, acquisition, liquidation, and divestiture); taxation planning and compliance (federal income, gift, and estate tax; state and local property tax; transfer tax); financing securitization and collateralization; employee corporate ownership (ESOP employer stock transactions and compliance valuations); forensic analysis and dispute resolution; corporate strategic planning and management information; bankruptcy and troubled company support (recapitalization, reorganization, restructuring); financial accounting and public reporting; and regulatory compliance and corporate governance.
Mr. Reilly has valued the following types of business entities and securities: close corporation business enterprise, close corporation fractional ownership interests, public corporation restricted stock, public corporation subsidiaries/ divisions, complex capital structures (various classes of common/preferred stock; options, warrants, grants, rights), general and limited partnership interests, joint ventures, proprietorships, professional service corporations, professional practices, LLPs and LLCs, license agreements, and franchises.
He has performed valuation, remaining useful life, lost profits/economic damages, and arm’s-length royalty rate/transfer price analyses related to the following types of intangible assets: advertising campaigns and programs, appraisal plants, broadcast licenses, building permits, cable TV franchises, certificates of need, computer software, computer databases, contract rights, core depositors, copyrights, credit information files, customer and supplier contracts, customer lists and customer relationships, development/commercialization rights, distribution rights, distribution systems, employment contracts, engineering drawings, film libraries, franchise contracts and rights, going-concern value, goodwill, leasehold interests, licenses, literary compositions, loan portfolios, management contracts, manuscripts, mining and mineral rights, mortgage servicing rights, musical compositions, noncompete covenants, patent applications, patents, patient charts and records, permits, possessory interests, prizes and awards, procedural manuals, production backlogs, proprietary technology, solicitation rights, subscriber lists, technical documentation and libraries, trained and assembled workforces, trade names, trademarks, trade secrets, training manuals and documentation, and air/water/land use rights.
Mr. Reilly has performed business and property valuations in the following industries: accounting and consulting, advertising, administrative services, aerospace, apparel, appraisal, automobile dealerships, automobile manufacturing, automobile suppliers, aviation, bottling, broadband, brokerage, cable television, cement, chemical, commercial banking, chemicals, communications, computer services, construction and contracting, consumer finance, consumer products, cosmetics, cruise ship lines, data processing, decontamination, defense, distribution, education, entertainment, equipment leasing, fast food, financial services, food processing, food service, forest products, grocery, health care, home health services, hotel and hospitality, insurance, internet, investment banking, leasing, manufacturing, marine, medical and dental practice, mining and mineral extraction, money management, natural resources, petrochemical, petroleum, pharmaceuticals, plastics, printing, public utilities, publishing, radio broadcasting, railroad, real estate development, recreational services, refinery, restaurant, retailing, shipping, steel, telecommunications, television broadcasting, textiles, thrift institutions, transportation and trucking, vacation and leisure, vocational training, waste management, water and wastewater, and wholesaling.
He has prepared financial advisory analyses and economic analyses for merger and acquisition purposes: identification of M&A targets, valuation of target company synergistic/strategic benefits, identification and assessment of divestiture/spin-off opportunities, economic analysis of alternative deal structures, negotiation of deal price and terms, assessment of fairness and solvency of proposed transactions, and design/valuation of alternative equity and debt instruments.
Mr. Reilly has been accepted as an expert witness in various federal, state, and international courts and before various boards and tribunals. This expert testimony has related to business, stock, and property valuation matters and to lost profits/economic damages matters. He has served as an expert witness in the following types of litigation: bankruptcy, breach of contract, breach of fiduciary duty, condemnation, conservatorship, corporate dissolution, expropriation, federal income tax, federal gift and estate tax, intellectual property infringement, lender liability, marital dissolution, dissenting shareholder appraisal rights/shareholder oppression, property tax appeal, reasonableness of executive compensation, solvency and insolvency, stockholder suits, tort claims, wrongful death/personal injury, and reasonableness of royalty rates and/or transfer prices. He has served as a court-appointed arbitrator with respect to squeeze-out merger dissenting shareholder rights actions.
Prior to Willamette Management Associates, Mr. Reilly was a partner and national director of valuation services for the Deloitte & Touche accounting firm. Prior to Deloitte & Touche, he was vice president of Arthur D. Little Valuation, Inc., a valuation services firm. Prior to that, he was the director of corporate development for Huffy Corporation, a manufacturing company. Prior to that, he was a senior consultant for Booz, Allen & Hamilton, a management consulting firm.
Mr. Reilly holds a master of business administration degree in finance from the Columbia University Graduate School of Business. He holds a bachelor of arts degree in economics from Columbia University.
Mr. Reilly holds the following credentials:
Mr. Reilly has performed the following types of valuation and economic analyses: economic event analyses; merger and acquisition valuations; divestiture and spin-off valuations; solvency and insolvency analyses; fairness and adequacy opinions; ESOP formation and adequate consideration analyses; private inurement/intermediate sanctions opinions; acquisition purchase accounting allocations; reasonableness of compensation analyses; restructuring and reorganization analyses; tangible asset/intangible asset intercompany transfer price analyses; and lost profits/economic damages analyses.
He has prepared these valuation and economic analyses for the following purposes: transaction pricing and structuring (merger, acquisition, liquidation, and divestiture); taxation planning and compliance (federal income, gift, and estate tax; state and local property tax; transfer tax); financing securitization and collateralization; employee corporate ownership (ESOP employer stock transactions and compliance valuations); forensic analysis and dispute resolution; corporate strategic planning and management information; bankruptcy and troubled company support (recapitalization, reorganization, restructuring); financial accounting and public reporting; and regulatory compliance and corporate governance.
Mr. Reilly has valued the following types of business entities and securities: close corporation business enterprise, close corporation fractional ownership interests, public corporation restricted stock, public corporation subsidiaries/ divisions, complex capital structures (various classes of common/preferred stock; options, warrants, grants, rights), general and limited partnership interests, joint ventures, proprietorships, professional service corporations, professional practices, LLPs and LLCs, license agreements, and franchises.
He has performed valuation, remaining useful life, lost profits/economic damages, and arm’s-length royalty rate/transfer price analyses related to the following types of intangible assets: advertising campaigns and programs, appraisal plants, broadcast licenses, building permits, cable TV franchises, certificates of need, computer software, computer databases, contract rights, core depositors, copyrights, credit information files, customer and supplier contracts, customer lists and customer relationships, development/commercialization rights, distribution rights, distribution systems, employment contracts, engineering drawings, film libraries, franchise contracts and rights, going-concern value, goodwill, leasehold interests, licenses, literary compositions, loan portfolios, management contracts, manuscripts, mining and mineral rights, mortgage servicing rights, musical compositions, noncompete covenants, patent applications, patents, patient charts and records, permits, possessory interests, prizes and awards, procedural manuals, production backlogs, proprietary technology, solicitation rights, subscriber lists, technical documentation and libraries, trained and assembled workforces, trade names, trademarks, trade secrets, training manuals and documentation, and air/water/land use rights.
Mr. Reilly has performed business and property valuations in the following industries: accounting and consulting, advertising, administrative services, aerospace, apparel, appraisal, automobile dealerships, automobile manufacturing, automobile suppliers, aviation, bottling, broadband, brokerage, cable television, cement, chemical, commercial banking, chemicals, communications, computer services, construction and contracting, consumer finance, consumer products, cosmetics, cruise ship lines, data processing, decontamination, defense, distribution, education, entertainment, equipment leasing, fast food, financial services, food processing, food service, forest products, grocery, health care, home health services, hotel and hospitality, insurance, internet, investment banking, leasing, manufacturing, marine, medical and dental practice, mining and mineral extraction, money management, natural resources, petrochemical, petroleum, pharmaceuticals, plastics, printing, public utilities, publishing, radio broadcasting, railroad, real estate development, recreational services, refinery, restaurant, retailing, shipping, steel, telecommunications, television broadcasting, textiles, thrift institutions, transportation and trucking, vacation and leisure, vocational training, waste management, water and wastewater, and wholesaling.
He has prepared financial advisory analyses and economic analyses for merger and acquisition purposes: identification of M&A targets, valuation of target company synergistic/strategic benefits, identification and assessment of divestiture/spin-off opportunities, economic analysis of alternative deal structures, negotiation of deal price and terms, assessment of fairness and solvency of proposed transactions, and design/valuation of alternative equity and debt instruments.
Mr. Reilly has been accepted as an expert witness in various federal, state, and international courts and before various boards and tribunals. This expert testimony has related to business, stock, and property valuation matters and to lost profits/economic damages matters. He has served as an expert witness in the following types of litigation: bankruptcy, breach of contract, breach of fiduciary duty, condemnation, conservatorship, corporate dissolution, expropriation, federal income tax, federal gift and estate tax, intellectual property infringement, lender liability, marital dissolution, dissenting shareholder appraisal rights/shareholder oppression, property tax appeal, reasonableness of executive compensation, solvency and insolvency, stockholder suits, tort claims, wrongful death/personal injury, and reasonableness of royalty rates and/or transfer prices. He has served as a court-appointed arbitrator with respect to squeeze-out merger dissenting shareholder rights actions.
Prior to Willamette Management Associates, Mr. Reilly was a partner and national director of valuation services for the Deloitte & Touche accounting firm. Prior to Deloitte & Touche, he was vice president of Arthur D. Little Valuation, Inc., a valuation services firm. Prior to that, he was the director of corporate development for Huffy Corporation, a manufacturing company. Prior to that, he was a senior consultant for Booz, Allen & Hamilton, a management consulting firm.
Mr. Reilly holds a master of business administration degree in finance from the Columbia University Graduate School of Business. He holds a bachelor of arts degree in economics from Columbia University.
Mr. Reilly holds the following credentials:
Accredited in Business Valuation (ABV)
Accredited Senior Appraiser (ASA)
Accredited Tax Advisor (ATA)
Certified Business Appraiser™ (CBA™)
Certified in Financial Forensics (CFF®)
Certified Management Accountant (CMA)
Certified Public Accountant (CPA)
Certified Real Estate Appraiser (CREA)
Certified Review Appraiser (CRA)
Certified Valuation Analyst® (CVA®)
Certified Valuation Consultant (CVC)
Chartered Financial Analyst (CFA)
Chartered Global Management Accountant (CGMA)
Enrolled Agent (EA)
Accredited Senior Appraiser (ASA)
Accredited Tax Advisor (ATA)
Certified Business Appraiser™ (CBA™)
Certified in Financial Forensics (CFF®)
Certified Management Accountant (CMA)
Certified Public Accountant (CPA)
Certified Real Estate Appraiser (CREA)
Certified Review Appraiser (CRA)
Certified Valuation Analyst® (CVA®)
Certified Valuation Consultant (CVC)
Chartered Financial Analyst (CFA)
Chartered Global Management Accountant (CGMA)
Enrolled Agent (EA)
He is a member of the American Bankruptcy Institute, American Economic Association, American Institute of Certified Public Accountants®, American Society of Appraisers, Business Valuation Association, The ESOP Association, Illinois Society of Certified Public Accountants, Institute of Business Appraisers™, CFA Institute, Institute of Professionals in Taxation, Institute of Certified Management Accountants, International Association of Assessing Officers, National Association of Business Economists, National Association of Real Estate Appraisers, and Ohio Society of Certified Public Accountants.
Mr. Reilly is a state certified general appraiser in the state of Illinois and several other states.
