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Multidisciplinary Valuation and Corporate Advisory Firm Transparently Serving the Full Range of Attorneys, Asset Managers, CFOs, and CPAs TM

NAV Valuation & Advisory LLC - Alternative Investment Valuation & Financial Advisory Firm

Alternative Investment Valuation and Financial Advisory Firm Transparently Serving the Full Range of Asset Managers, Attorneys, CFOs, and CPAsTM

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Justin Kuczmarski,

ESOP & ERISA Valuation Opinions


NAV's employee stock ownership plan ("ESOP") valuation practice delivers a leading, diversified experience across plans of all sizes.

We have valued ESOPs not just for financial reporting but also within the real-world context of M&A. ESOPs have distinct valuation nuances such as IRS Section 409(h) that demands the Company, or ESOP sponsor, buy back the stock from participants.

The participants have received distributions from the plan. The put option inherent to the ESOP stock forces the Company to purchase the stock from participants at the (FMV), fair market value. Independent valuation analysts derive the FMV.   

The latter is a key distinction as many ESOP valuation specialists lack any semblance of actual experience as an M&A advisor for ESOP-funded companies seeking to acquire, divest, or issue securities. Similar to private equity valuation, the structuring, taxes, and overall intricacy of ESOP valuation is well-suited for our firmwide, multidisciplinary expertise within M&A, valuation, and accounting.  

How We Assist Clients


NAV's team delivers ESOP feasibility findings and detailed valuation reports to help clients analyze the possible strengths and weaknesses of an ESOP plan. We next confer with all parties to communicate the time frame and risks of establishing an ESOP. Finally, our team helps establish milestones and a time frame for transitioning both ownership and management functions. 

The following presents the key stages of ESOP M&A and ESOP valuation. 


How We Are Transparent


We perform our services on a flat-fee or hourly basis with leading attorneys, alternative investment funds, CFOs, CPAs, and other C-suite corporate executives. We strongly feel engagement scope and fee ranges should be communicated effectively and efficiently.

We accordingly serve clients in stages, and we encourage clients to take a methodical, calculated approach to deciding which professional offerings are necessary or optional. 

Our first service stage is dubbed the NAV Situation Scan (TM). The Situation Scan helps both our clients and our teams diagnose the services necessary for fulfilment of client objectives. We then communicate the results of the Situation Scan to derive a suggested road-map. The NAV team next proposes a time frame for delivery of service milestones. We are inherently flexible, and our Situation Scans outline a proposed plan of action and not a mandatory obligation. We have found clients cherish this "ramp-up or ramp-down" flexibility that can be implemented at any time.