Understanding the How and Why of ESOP Transactions

Recorded On: 02/05/2013


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ESOPs are becoming an increasingly popular exit strategy for construction (and other) companies. In this presentation, we take an in-depth look into: case studies highlighting challenges faced by newly formed ESOP companies and how the adversity was managed, why it makes sense for the surety professionals to be familiar with ESOPs, how the surety industry should be involved in the process, and much more.

Elaine Ervin

Partner, Moss Adams LLP

Elaine Ervin, CPA, Partner, Moss Adams LLP has been in public accounting since 1986. She is the firm-wide leader of the Construction, Real Estate, Professional Service Firms and Hospitality Industry Groups.  She specializes in providing accounting and business advisory services to closely-held businesses, with a particular focus on clients in the construction and real estate industry. Ms. Ervin participates in all phases of audit and review engagements including planning, compliance testing, supervision, and report preparation for clients. She has an extensive background in relation to bonding and banking issues as they relate to financial performance and she is active in the CFMA, the AGC, a member of ULI, and is the President of the AGC Education Foundation.

Wayne D. Fjeld

Senior Manager, Moss Adams LLP

Wayne D. Fjeld, CFA, ASA is Senior Manager with Moss Adams Advisory Services. He provides a range of valuation services for operating companies, family limited partnerships and limited liability companies, with a special emphasis on ESOPs. He received his B.Comm from the University of Victoria, B.C.  He is an Accredited Senior Appraiser (ASA) in business valuations from the American Society of Appraisers and is past president of the Seattle Chapter. Mr. Fjeld has written articles on the subject of valuations and has lectured on valuation and financial analysis to professional groups.

Dena Herbolich

Partner, Moss Adams LLP

Dena Herbolich, CPA, Partner, Moss Adams LLP has practiced public accounting since 1993. She serves as chair of the Puget Sound Employee Benefit Plan Services Group. She is involved with audits of more than 90 defined contribution and defined benefit retirement and health plans annually, including ESOPs, and assists with firm wide benefit plan education and quality control. Ms. Herbolich is a recipient of the Moss Adams Technical Excellence Award for her knowledge of the employee benefit plan industry. She frequently speaks at conferences including the Washington Society of CPAs, Western Pension and Benefits Conference and the American Institute of CPAs and serves on the AICPA Employee Benefit Plan National Conference Planning Committee.

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