The Keystone Q4 2011 - Chartwell Exclusive Sponsor of ACEC CFO Council

Please join us for the inaugural event to be held at the ACEC annual conference in Washington, D.C.

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The Keystone Q3 2011 - Overhead Rates and Government Contracts:  What Architectural and Engineering Firms Need to Know

When architectural and engineering firms provide certain services to the government, they are allowed to bill for a portion of their overhead costs related to those services.

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The Keystone Q2 2011 - Hop on Board! MetaField™ Mobile Solution Propels AEC Firm Returns

Everywhere we turn, mobile applications are allowing users to do their jobs more efficiently and effectively. A recent article in Business News Daily¹ described just how essential mobile applications are to the current and future workforce. Research by New York-based AMI-Partners found that the use of smartphones and tablets by U.S. small and medium businesses is skyrocketing. AMI estimates that in the next 12 months, the number of small businesses owning smartphones will increase 40 percent from 3.5 million and those owning tablets will increase 85 percent from 700,000.

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The Keystone Q1 2011 - Spring Conference Findings

Across three conferences, one similar theme stuck out...ownership transition activity is on the rise! After nearly three years of low to moderate activity, the transaction world is heating up and the AEC industry continues to see significant consolidation as a result. Whether you are a buyer or seller, the next few years are likely to bring many opportunities.

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The Keystone Q4 2010 - Monitor Architecture and Engineering Performance with Key Ratios

Architects and engineers know without a strong foundation the stability of a structure is compromised. The same applies to the financial foundation of a company. To monitor financial stability, leaders need access to key information throughout the year. Following are four key financial ratios important to monitoring company performance and financial stability.

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The Keystone Q3 2010 - R&D Tax Credits

Most businesses invest heavily into product or process improvement simply to meet market demand. Many are not aware that tax code changes allow them to recover money spent on daily activities. A major tax law change in 2003 has allowed many companies to claim the research and development tax credit that before was ineligible. The "discovery test" was taken out of the credit in 2003. Since 2003, a company no longer has to make new discoveries to society to claim the credit, just new discoveries for their own company. This means that even though a product isn’t new to society but new to the company, the company can still claim the credit for all the qualified expenses put into product development. By recapturing a percentage of those dollars and reinvesting them back into your business, the R&D Tax Credit is designed to help you stay competitive in the global economy.

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The Keystone Q2 2010 - Chartwell Opens Chicago Office

Chartwell Capital Solutions is proud to announce the opening of a Chicago office and the expansion of our Corporate Finance practice. Gregory A. Fresh as been appointed head of the national group while Will Bloom has been hired to lead the Chicago region. Chartwell’s expanded Corporate Finance offering includes M&A advisory and Capital Markets services. The recent addition of these professionals will significantly augment the firm’s capabilities and experience in the Corporate Finance arena.

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The Keystone Q1 2010 - Increasing Tax Rates

Rising valuations coupled with a fear of significant increases in capital gains tax rates spurred additional merger and acquisition (M&A) activity in 2007 and 2008.  According to Capital IQ, at the peak of the AEC market (the twelve months ended September 30, 2008), there were 73 domestic M&A transactions announced in the “engineering services” industry.  With the failure of Lehman Brothers in September 2008 and the subsequent collapse of the credit markets, the US quickly found itself in a severe recession.  The lack of financing combined with weaker operating performance drove valuations down to levels that reduced M&A activity significantly.  During the trough of the market (the twelve months ended September 30, 2009), there were only 41 M&A transactions announced in the US AEC industry, a decline of 43.8% from the peak.

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In a move to further its West Coast presence, Chartwell Capital Solutions is excited to announce the addition of Pamela Steverango who will lead the firm’s new San Francisco office. Pamela, the former President and owner of Valuation Analysts, Inc., will expand Chartwell’s investment banking, ownership transition consulting and business valuation services to the west coast region, effective January 1, 2010.

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In 1999, Norm Wenck, the founder and CEO of Wenck Associates, Inc. (“Wenck”, or the “Company”) was faced with the dual task of planning for his leadership succession as well as the ownership transition of the Company.

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Private Equity firms face difficult decisions when deciding to invest in or acquire a private business. When going to market, firms typically position themselves in the most favorable light, and their owners are understandably optimistic about the future of their business.

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Located in Boise, Idaho, Biomark provides radio frequency identification (“RFID”) or Passive Integrated Transponder (“PIT”) tag products and related services to the fish, wildlife and livestock markets. PIT tags are used in the tagging of fish for identification by biologists and governments mainly in environmental programs and studies.

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According to the U.S. Census Bureau, there are approximately 1.2 million privately owned businesses in America with 10 or more employees. Fueled by the aging of the baby boom generation, it is estimated 40% to 60% of these businesses will change hands over the next decade.

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Valuation Theory. First, a bit of theory. The value of a business is dependent upon internal company factors, as well as external market factors that are beyond the control of an individual business.

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Ownership Transition Insight: Focus on Family Transfers

As business owners near the exit point for their investment, they are faced with alternatives which may include the sale of the business to third parties, management or their employees, or they may desire to have family members assume an ownership role in the business.

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Expect the unexpected. A well-planned exit strategy can help owners extract cash from their businesses, addressing a variety of transfer scenarios. These may include voluntary transfers such as retirement, gifts to family members, donations to charities, stock compensation plans for managers, or mergers or acquisitions.

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