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Valcon Partners, Ltd. - Sample Engagements

Ad Valorem Tax Appeal

Members of our team performed various tax appeal valuations of several facilities for a major candy and pet food company. The valuations were unsuccessfully challenged by the taxing authority. The state tax commission made several very complimentary comments about the appraisals and the appraiser. Over a period of three years, the company saved several hundred thousand dollars in personal property taxes.

Members of our team performed a series of retrospective valuations for a major automotive supplier.  These valuations assisted the company and their tax consultants in negotiating over $500K worth of tax refunds and a reduced taxable basis for a period into the future, providing further tax savings.

Purchase Price Allocation

Members of our team performed a purchase price allocation for a major specialty chemical manufacturer which was purchased by a foreign entity. This valuation met both U.S. and foreign accounting standards. This project included several major manufacturing and distribution locations in the United States, Europe, and South America.

Members of our team performed a purchase price allocation for a major hand tool manufacturer which formed a partnership with a foreign entity. This project included several major manufacturing and distribution locations in the United States and Europe.

Members of our team performed a series of purchase price allocations for a major food manufacturing company based in Europe.   These valuations were performed under both U.S. and foreign accounting standards.  As part of these projects, we assisted the company in cleaning up the fixed asset records which allowed the company to better identify and track their assets.   Better control over assets results in more accurate property tax values and insurable values.

Due Diligence

Members of our team performed a due diligence project which included both an asset verification and valuation of several locations in Mexico in conjunction with the purchase of the locations by a major tier one automotive supplier. This project resulted in a reduction in the sales price of approximately $2 Million and an accurate fixed asset record.

Members of our team developed and executed an asset sampling plan for a client who purchased another company which had over 40,000 product dispensers located throughout the United States.  This sampling plan was used to verify the existence or non-existence of these dispensers and to also assist in the negotiation of the final price paid for the company.

Insurance And Asset Management

Members of our team performed an asset verification and valuation of several locations in Mexico for a major tier one automotive supplier. This project entailed tagging over 10,000 assets in a two week time frame, which was significantly shorter than the time frame projected by the client if they had performed the project on their own. In addition to tagging the assets, our team also performed a reconciliation of the fixed asset record and valued all of the assets for insurance purposes. The results were an accurate fixed asset record and a system that will be used by the client's maintenance and financial personnel to track asset status and history allowing them to achieve a high degree of traceability, something that did not exist prior to this project.

Asset Management

Members of our team performed an asset verification, reconciliation, and tagging project for a food manufacturer with over 1.4M square feet of floor space.  The results of the project included:  creating a cross reference between the fixed asset records and the maintenance records so maintenance costs could be directly attributed to each asset; breaking up several “grouped” assets into their major components which allowed the company to better track assets for various purposes including rebuilds and retirements; identifying assets which were not longer on site which resulted in tax and insurance savings; individually bar coding the production assets which allowed better control of the assets; and identifying certain improvements to be made to the asset receipt and tracking system.

Members of our team performed a detailed analysis of the asset tracking systems in place for a provider of in-home health care equipment. Prior to the project, the status and location of individual equipment could not be verified with 100% accuracy. The team analyzed all of the internal procedures including, but not limited to the following: asset purchase procedures; current asset booking and retirement procedures; current asset tracking software in use; current warehousing, repair and check out procedures; and current retrieval procedures. The team recommended a complete program that would assure accurate asset tracking including recommending new hardware purchases, procedural changes at each stage of the asset life, and follow up procedures so that the client would be aware of the asset's location and availability throughout its life cycle.

Management Planning

Members of our team valued several thousand assets of a 275 bed hospital in a two week period in order to assist management in planning for future disposition of the assets. We were also instrumental in identifying potential buyers for some of the equipment.

Specific references are available upon request.

 
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