Weinress & Associates

Business Valuation Services

Specializing in ESOP Valuations

Weinress & Associates is a provider of quality valuations and financial opinions across the United States.

Weinress & Associates is a 30+ year old provider of quality valuations of the equity of closely-held private businesses that are utilized in their purchase or sale as well as for gift and estate purposes. The value of both controlling and minority positions can be provided.

The firm's primary focus is the valuation of the equity owned - or to be purchased or sold - by Employee Stock Ownership Plans (ESOPs). Both the initial valuations as well as the periodic updates can be rendered as needed.

Weinress & Associates also has the capability to issue valuations in order to determine option exercise prices as well as the value of the options for compensation expense purposes as required by Internal Revenue Service Code Section 409A.

In cases where it is required, fairness opinions can be issued to assure the equitable treatment of all shareholders.

Weinress & Associates core values are RELATIONSHIPS, INTEGRITY and TRUST.

Having completed thousands of valuation reports for clients over the years, many for ESOP purposes, our team has extensive experience in valuing a wide range of businesses in diverse industries, at different stages during their life cycles. We focus on creating and maintaining strong relationships with our clients by working closely with them throughout the process while building a trusting environment for everyone. We are sensitive to keeping the integrity of our clients information and data secure and confidential. You can trust us to ensure the information you share with us will remain confidential and will not be shared with any unrelated entities.

Weinress & Associates has performed Business Valuations for clients in diverse industries throughout the US. Examples of assignments include, but are not limited to, the following industries:

Aerospace Component Manufacturer
Architectural Engineering Firm
Association Management Company
Auto Accessory Manufacturer
Automobile Dealer
Commercial Contractor
Commercial Printing Company
Corrugated Box Manufacturer
Defense Intelligence Contractor
Fruit Packing & Distribution Co
Home Health Care Agency
HVAC Contractor
Internet Web Site Developer
Landscape Contractor

Manufacturers Representative
Moving & Storage Company
Mutual Fund Management Company
Nursing Home Chain
Restaurant Supply Distributor
Retail Bldg. Supply Centers
Retail Shoe Chain
Software Developer
Steel Forging Company
Supermarket Chain
Theater Chain
Value Added Reseller of Computer Systems
Wireless Network Manufacturer

M.O. "Tony" Weinress

Founder & Principal

Tony has over 30+ years of Appraisal work, specializing in ESOPs.

Josh Kelly, ASA

Principal

Josh has 16 years of Appraisal work, specializing in ESOPs.

Margaret "Kirk" Hammock

Associate

Kirk has over 4+ years of Appraisal work, specializing in ESOPs.

Standard or Formal Report

Depending upon client requirements, Weinress & Associates can issue either a standard or formal valuation; the latter containing the extensive corporate and financial information which is required for legal examination and validation. The standard valuation is, essentially, a short form version of the formal evaluation, provides a range of values, and is issued in cases where a formal valuation is not mandated.

The formal valuation contains the following elements:

A dissertation on the legal considerations involved in the valuation of a company.
A full description of the company being valued which includes a discussion of its business, its management, its employees, the overall market in which it operates, and an analysis and review of its financial history and present status.
A valuation discussion which sets forward in detail the valuation methodologies utilized by the appraiser. The calculations are based upon methods which arrive at an end result using varying relationships between adjusted operating earnings, net worth, the capacity to pay dividends and sales. The adjustments take into account items such as compensation levels, non-recurring income or expenses, etc.

ESOP Valuation

As the financial advisor to the ESOP Trust, we provide services that include annual update appraisal services, transaction analysis and fairness opinions, company analysis and feedback regarding performance, and general financial consulting. We work with new ESOPs in structuring a transaction and/or determining the price at which a transaction can take place.

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Fairness Opinions

We advise board of directors, special committees, companies, minority shareholders, and other fiduciaries with an unbiased assessment of the financial fairness of a pending transaction.

Gift & Estate

We provide valuations for tax purposes, including gifting, estate tax, charitable donations, S Corporation conversions and limited partnerships.

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Business Valuation Process

At Weinress & Associates, our process is an interactive process in which the client is involved during all phases of the analysis. We value our client relationships and the integrity of our client's data by using secure controls to protect data and information provided to us.

Engagement

Phase I - Engagement with Trustee and Indemnification and Fee Payment by Company.

Information gathering

Phase II - Gather Company Documents/Information, perform a thorough review of the information collect and setup a Field Visit along with discussions with Company Management.

Market Analysis

Phase III - Collect and analyze Market data and continue to have informational reviews with the client.

Company Analysis

Phase IV - Determine appropriate valuation methodology to be used, conduct a valuation analysis, consider ESOP-specific Characteristics and consideration of Discounts and Premiums.

Report Conclusions

Phase V - Create the draft Appraisal Report, submit to client for review and comments. Only after the draft document has been thoroughly discussed with the client will we issue the final Conclusions/Report to the Trustee.

At Weinress & Associates, our valuations are performed in conformity with the provisions set down by the ASA (American Society of Appraisers) under USPAP (Uniform Standards of Professional Appraisal Practice) and the IRS (Internal Revenue Service) Ruling 59-60 issued in April, 1959 (as modified by Revenue Ruling 65-193). Section 409A analyses are performed subject to the guidelines issued by the AICPA (American Institute of Certified Public Accountants).