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Arizona Beverages Partners Air Widely Divergent Value Views

December 2014 | Issue 77 Introduction This valuation proceeding arose out of a four-year litigation struggle between John Ferolito and Domenick Vultaggio, the co-founders of AriZona Beverages. AriZona is the largest privately-owned beverage company in the United States. Stated simply, the case involved the valuation of the AriZona entities (“AriZona” or “company”); a collection of [...] More...

Personal Goodwill, is it Part of Company Value?

September 2014 | Issue 76 PERSONAL GOODWILL, IS IT PART OF COMPANY VALUE? Background Franklin Adell died on August 13, 2006. Included in his estate was a 100% interest in a company called STN.Com, Inc. (“STN”). The estate initially valued STN at $9.3 million. The IRS issued a notice of deficiency which valued STN at [...] More...

Non-Recurring Cash Flows Complicate Hesco Valuation

August 2014 | Issue 75 NON-RECURRING CASH FLOWS COMPLICATE HESCO VALUATION Patricia Laidler  (Petitioner) was a 10% shareholder of Hesco Bastion USA, Inc. (“Hesco”).  The remaining  90% interest in Hesco was owned by Hesco Bastion Environmental, Inc. (“Environmental”).  On January 26, 2012, Hesco was merged into Environmental. Pursuant to the terms of the merger, Petitioner [...] More...

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Testimonials

“I did not think that I needed another meeting this morning; but, was I ever wrong. John Hempsted’s concise and content-rich remarks … on BUY SELL AGREEMENTS was ‘one for the record books’. In short, he educated me on the ins and outs of them… at a considerable cost savings from using another service provider…. and stimulated me to create one for my business and family by 2Q 2013.”

G. A. Taylor Fernley, President & CEO – Fernley & Fernley

“As a business owner holding 100% of the stock in my company, John Hempstead’s presentation challenged me to understand that change is inevitable and to recognize that setting the process for valuing my business NOW would lead to reduced conflict and an equitable sale price at the time I choose to turn over the business to a successor or new owners. The upfront investment is small compared to the knowledge and peace of mind that the years of work will not be transferred without appropriate compensation to me and continued value to the new owners.”

Herb Hess, CEO – CNE, Inc.

“We have always received great service from Hempstead. They have done several valuations for us, have done them very efficiently and have produced a very professional product. I highly recommend their work.”

Aric Spitulnik, Controller – TESSCO Technologies Incorporated

“We frequently need assistance in the estate, gift, and other tax areas of the law. We are consistently pleased with the thorough, prompt and detailed appraisal services provided by Hempstead & Co. to our clients as well as the ease with which they work with us and our clients.”

Frank Demmerly, Esq. – Archer & Greiner, P.C.

“Our company hired Hempstead & Co. to determine a fair market valuation of our stock. We thought that they did a great job for us. They took time to understand our business, their report was finished on time and we were very satisfied with the results.”

Ed Wagman, John Wagman – Monarch Products, Inc.

“You delivered exactly what we requested – on time and on budget.”

William J. Newman, Jr., Esq. – Christian & Barton LLP

“We were initially referred to Hempstead in connection with valuation work needed due to an IRS controversy matter. John Hempstead and Mark Penny have a very good reputation with the IRS and this credibility went a long way in helping to resolve the controversy.

“We have subsequently engaged Hempstead & Co. for a variety of entity valuation projects, mostly in support of foreign affiliates’ values.

“Campbell intends to use Hempstead & Co. for future valuation work and we would recommend the firm to others.”

Richard Landers, V.P. Taxes – Campbell Soup Company

“We highly recommend considering Hempstead to provide your valuation services.”

Bill Steller – Phillips Mushroom Farms

“As a CPA in practice for over 35 years, I have referred many clients to Hempstead & Co. with confidence. My clients have been very satisfied with the depth and diversity of their appraisal reports. I find that their reports are of the highest quality as well as extremely professional when facing the IRS.”

Gregory J. Facemyer, CPA – Bridgeton, N.J.

“Ours was a complex transaction that involved first a restructuring of the company and then a valuation of the newly created non-voting shares.

“We feel that Hempstead & Company’s complete and thorough research provided the necessary underpinnings to ensure the credibility of our judgments.”

Arthur Lukach, President – Micromold Products Incorporated

“I was impressed with the quickness and depth in which Hempstead learned the relevant aspects of my clients’ business and the quality of the analysis. I look forward to the next opportunity to work with Hempstead and to recommend Hempstead to my clients and colleagues.”

Jeffrey P. Resnick, Esq. – Sherman, Silverstein, Kohl, Rose & Podolsky, P.A.

“We worked with Mark in an arbitration concerning a business break-up. He displayed true expertise, preparing a valuation report which provided ample support for its conclusions and by testifying effectively at the arbitration, which assisted in winning a favorable outcome for the client. I’ll certainly engage Mark in the future.”

Robert Herskovits, Esq. – Gusrae, Kaplan, Bruno & Nusbaum PLLC

“Our organization consists of a complex structure of diverse entities encompassing real estate operations and ownership, as well as heavy construction and manufacturing. We turned to Hempstead & Co. for business valuations critical to our needs relative to ownership succession planning. We have not regretted our decision. Their work has been professional and timely. Their reports are clear and precise, and I look forward to continuing our relationship.”

Dean Glick, Vice President Taxes – High Company LLC