QUALIFICATIONS AS AN APPRAISER OF CORPORATE SECURITIES
Mr. Penny, who holds the designation of senior member in the American Society of Appraisers (ASA), prepares valuation analyses of privately held firms for numerous purposes including recapitalizations, equitable distributions, estate planning, employee stock ownership plans, mergers and acquisitions, fairness opinions, purchase price allocation and calculation of economic damages. Mr. Penny is also experienced in estimating the value and useful life of intangible assets including goodwill, customer lists, franchises, trademarks, tradenames and professional degrees.
Mr. Penny has prepared valuations for a wide range of businesses including manufacturing companies, communications firms, various professional practices, small businesses and agricultural enterprises.
Mr. Penny has been qualified as an expert witness and testified in New Jersey, New York, Pennsylvania, Delaware and Florida. He has lectured on the topic of business valuation on behalf of the National Center for Employee Ownership and before estate planning groups.
Employment History
- 1985 to date – Hempstead & Co. Inc. – business valuation and merger and acquisition consultants. Associate, later Partner and Managing Director.
Educational Background
- 1984 – MBA with concentration in finance, Temple University
- 1981 – BA economics, University of Pennsylvania
