This document provides an overview of Navigant Consulting's valuation services for commercial situations. It discusses why valuations are needed, common types of commercial valuations including fairness opinions and solvency opinions. It highlights Navigant's expertise in various industries including energy, their leadership team, and capabilities in valuation models and risk analysis. Navigant positions itself as a trusted advisor able to provide independent, accurate valuations utilizing their industry and technical experience.
EY Valuation & Business Modelling - Luxembourg officeeyluxembourg
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The need for transparent and robust valuations to support corporate transactions and to meet regulatory requirements has increased. Justifying the value of assets and liabilities has grown more complex and is increasingly critical for businesses. Our experienced valuation professionals ask the right questions and help you find the right answers.
Do any of the below statements apply to you?
1. I am in the early, startup phase of building a business
2. I am trying to scale an established business
3. I am working towards an exit
If you answered yes to any of the above questions, Dragon Argent ran an online webinar - Enterprise Value as a Framework for Growth. Weâre sharing the presentation for business owners and management team.
The webinar was hosted by James Taylor, Chief Commercial Officer and Strategy Advisor at Dragon Argent. James has previously started, scaled, and exited his own business and now advises clients at Dragon Argent on how to grow their business, avoiding some common pitfalls along the way. In the webinar, James covered:
âĸ What is Enterprise Value and why is it important?
âĸ When to start thinking about Enterprise Value
âĸ Enterprise Value as a Framework for Growth
âĸ The 3 Drivers of Enterprise Value
âĸ Realising Enterprise Value: Exits & Disposals
The webinar covers a very broad range of considerations that founders and entrepreneurs have to consider when building a valuable business, from go-to-market strategy, corporate structure, accounting best practices and risk management. It will provide leaders with the ability to build simple, effective plans to increase the holistic value of their business as they grow and move towards an investment round or exit.
We hope this is a valuable resource.
UK based management consultancy firm offering consultancy services to businesses in Saudi Arabia - The consultancy has presence in UK, India and Saudi. Contact me for any consulting inquiries.
EY Valuation & Business Modelling - Luxembourg officeeyluxembourg
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The need for transparent and robust valuations to support corporate transactions and to meet regulatory requirements has increased. Justifying the value of assets and liabilities has grown more complex and is increasingly critical for businesses. Our experienced valuation professionals ask the right questions and help you find the right answers.
Do any of the below statements apply to you?
1. I am in the early, startup phase of building a business
2. I am trying to scale an established business
3. I am working towards an exit
If you answered yes to any of the above questions, Dragon Argent ran an online webinar - Enterprise Value as a Framework for Growth. Weâre sharing the presentation for business owners and management team.
The webinar was hosted by James Taylor, Chief Commercial Officer and Strategy Advisor at Dragon Argent. James has previously started, scaled, and exited his own business and now advises clients at Dragon Argent on how to grow their business, avoiding some common pitfalls along the way. In the webinar, James covered:
âĸ What is Enterprise Value and why is it important?
âĸ When to start thinking about Enterprise Value
âĸ Enterprise Value as a Framework for Growth
âĸ The 3 Drivers of Enterprise Value
âĸ Realising Enterprise Value: Exits & Disposals
The webinar covers a very broad range of considerations that founders and entrepreneurs have to consider when building a valuable business, from go-to-market strategy, corporate structure, accounting best practices and risk management. It will provide leaders with the ability to build simple, effective plans to increase the holistic value of their business as they grow and move towards an investment round or exit.
We hope this is a valuable resource.
UK based management consultancy firm offering consultancy services to businesses in Saudi Arabia - The consultancy has presence in UK, India and Saudi. Contact me for any consulting inquiries.
how can i use my minded pi coins I need some funds.DOT TECH
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If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. đ I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
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The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new productâit signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
what is the future of Pi Network currency.DOT TECH
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The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Exploring Abhay Bhutadaâs Views After Poonawalla Fincorpâs Collaboration With...beulahfernandes8
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The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
how to sell pi coins at high rate quickly.DOT TECH
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Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
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USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The European Unemployment Puzzle: implications from population agingGRAPE
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We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
where can I find a legit pi merchant onlineDOT TECH
Â
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
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Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the worldâs largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
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financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
âĸ The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
âĸ The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
âĸ The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
âĸ Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and assetâs value is determined by companyâs performance. There are two major types of equity securities: common stock and preferred stock.
ī Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the companyâs board of director or the business decisions to be made.
ī Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for companyâs growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
4. Why do you need a valuation ?
Start by asking the key scoping questions !
ī§ What is the valuation needed for ?
ī§ Why is a professional valuation requested ?
ī Required Valuation-Accounting & Taxation
ī Expert Valuation
ī Commercial Situations
ī§ Who is the audience ?
ī§ What is the standard of value ?
ī§ What is really at stake ?
ī§ How should it be priced ?
5. Commercial Valuation
Commercial valuation work is most often associated with
investment bankers and corporate development teams
ī§ It serves a commercial, business, or transaction objective
ī§ The standard of value is not specified â it is more commercial than theoretical
ī§ The Audience is the Board of Directors, shareholders, and investors
ī§ Investment banking techniques are utilized such as:
ī Comparable companies
ī Precedent transactions
ī Discounted cash flow models
ī LBO analysis
ī Merger models
ī§ The point of view for the valuation is first person, not third person.
6. Commercial Valuation Examples
ī§ Fairness Opinions
ī§ Solvency Opinions
ī§ Commodity Curve Analysis & Stress Testing
ī§ Shareholder Value Analysis
ī§ Buy or Sell Side Consulting
ī§ IP Licensing
ī§ Financial Instruments Structuring Advisory
ī§ Synergy Assessment
ī§ Business Case ROI Analysis
ī§ Portfolio Valuation
ī§ Monte Carlo Simulation Model Design
ī§ Red Team Advisory
7. Risks & Pricing
Risks
ī§ Transaction
ī§ Market
ī§ Operational
ī§ Financial
ī§ Credit
ī§ Reputation
ī§ Litigation
Pricing
ī§ Value based - Fees are
calculated based upon the
value at risk of the work
product
ī§ Variable - Time and
Expenses
ī§ Fixed â usually for
Fairness and Solvency
Opinions
8. Essential Success Factors
ī§ Broad and deep industry experience,
ī§ Wall Street credentials,
ī§ Financial and commodity markets execution
history, and
ī§ Technical quantitative finance capabilities.
10. Navigant Consulting, Inc.
Business Description
Navigant Consulting, Inc. is a
specialized, independent
advisory firm that supports
companies, lenders,
institutional investors, legal
counsel, and government
agencies. The company focuses
on entities and industries
facing the challenges of
uncertainty, risk, distress and
significant change, and on the
issues driving these
transformations.
Ticker NCI (NYSE)
2013 Revenue $834 million
Professionals 4,000+
Headquarters Chicago, IL
Senior Management
â Julie Howard, CEO and
Chairman, Navigant
â Cindy Baier, CFO and EVP
â Richard D. Hitt, Managing
Director, Head of Navigantâs
Corporate Finance Practice
Navigant Consulting, Inc. (âNavigantâ)
NCIâs 2,500+ professionals maintain a presence in 45 cities internationally
throughout North America, Europe and Asia, including a significant concentration of
resources in Chicago, Houston, London, New York, and Washington DC.
11. Comprehensive Energy Complex Coverage
ī§ Commodity Hedge Funds
ī§ Energy Services
ī§ Energy Trading & Marketing
ī§ LNG
ī§ Oil and Gas - Upstream
ī§ Oil and Gas â Midstream
ī§ Power Generation, Transmission, & Distribution
ī§ Refined Products
ī§ Renewable Energy
12. Comprehensive Valuation Capabilities
We have valuation expertise across the range of structures. We commonly
value:
ī§ Investment grade debt
ī§ High yield and distressed debt
ī§ Complex securities
ī§ Hybrid securities
ī§ Common and preferred equity
ī§ Options, warrants & other derivatives
ī§ Partnership interests
ī§ Real estate and other tangible assets
ī§ Exotic options
ī§ Commodities and futures contracts
ī§ Interest rate and currency swaps
ī§ Earnouts and other contingent claims
ī§ Power Purchase Agreements
ī§ PIPEâs
ī§ Take or Pay contracts
ī§ Restricted stock
ī§ Oil and gas royalties
ī§ Mining interests
ī§ VPPâs
ī§ Intellectual property
ī§ IPR&D
ī§ Trade names
ī§ Goodwill
ī§ Customer relationship intangibles
ī§ Loan portfolios
ī§ Insurance reserves
ī§ Economic loss damages/lost profits
13. Our Strengths
ī§ Broad and deep expertise across the Energy Complex
ī We have consulting, banking, and corporate experience in diverse financial and commodity
markets, in addition to valuation & financial reporting technical capabilities. Our experienced
team includes MBAs, CPAs, CFAs, CBAs, ASAs, CAIAs, and MAIâs.
ī We are a one-stop shop, as we do complex commodity derivatives valuations alongside our
business and corporate valuation work.
ī§ Collaborative process
ī While our opinions are independent, you are involved throughout our process, because you
know your investments better than anyone. We want to understand your thinking, and we want
you to understand ours.
ī§ Thoroughness and accuracy
ī We give you more than just the conclusions. We give you thoroughly supported, accurate
valuation reports.
ī§ Integrity
ī We are only interested in getting to the right answer, employing generally accepted valuation
principles.
ī§ âTrusted Advisorâ to our clients
ī Our clients view us as business partners, working together to establish best practices in valuation
and transaction work as competitive advantages for their firms.
What makes Navigant unique?
14. Accepted in the Marketplace
ī§ Our work has supported KPMG, PwC, Deloitte, E&Y, BDO, GT, and other
audit firmsâ technical & audit staffs, undergoing detailed review of our fair
value analyses for financial reporting and tax purposes.
ī§ Our work has been reviewed and accepted by the SEC in numerous filings.
ī§ We have extensive experience defending our valuations before the IRS
(including Tax Court) and other tax and regulatory bodies.
ī§ Our senior professionals have performed technical reviews during their
tenure at the major accounting firms. We maintain continuing professional
relationships with current reviewers at these firms.
ī§ Our methodologies and findings have been presented to, and accepted by
numerous rating agencies, qualified institutional buyers and certified
investors.
ī§ Our professionals have published and spoken extensively on valuation
topics as they pertain to the investment community.
15. Trusted Advisor
Service
A combination ofâĻ..
âĻ resulting in a âTrusted Advisorâ relationship creating
valuation as a competitive advantage.
Flexibility
Collaboration
Accuracy
Thoroughness
Timeliness
Integrity
Expertise
16. âExcellent communicationâ
âVery responsive from a process and analysis standpointâ
âExceeds expectations in response time â
âInvestors have reached out to Navigant on methods and assumptions and have only
provided positive feedbackâ
âMeets all schedules and deadlinesâ
âProvides creative ideas and suggestionsâ
References available upon request
What our clients say about usâĻ.
17. Navigant vs. Big 4
ī§ We have a diverse skill set; not just CPAs,
ī§ We have corporate industry experience, they do not,
and
ī§ We are not limited by rules-based thinking and
checklists.
18. Navigant vs. Wall Street
ī§ We do not have trading and marketing desks, so we
can be more objective,
ī§ We understand regulatory and statutory valuation,
bankers sometimes do not, and
ī§ We understand all of the accounting and tax rules that
are unique to the Energy Complex.
19. Navigant vs. Boutique Firms
ī§ Our balance sheet and brand stand behind our work,
ī§ We can deploy a wide variety of resources globally,
ī§ We do not have to outsource or sub-contract
anything, we are a one-stop shop, and
ī§ Small firms cannot be counted on to be there with
you through all of your regulatory challenges.
21. Resumes
Richard D. Hitt, Jr.
Managing Director
National Practice Leader
Navigant Consulting
30 South Wacker Drive
Suite 3100
Chicago, IL 60606
Cell: 312.953.7197
Tel: 312.583.2621
rhitt@navigant.com
Professional History
īˇ Navigant Consulting, Inc.
īˇ BearingPoint, Inc.
īˇ KPMG, LLP
Education
īˇ M.S.A., Eastern Michigan University
īˇ B.S., University of Michigan
Licenses & Certifications
īˇ Certified Public Accountant
Richard Hitt is a Managing Director and the Practice Leader for the Valuation & Financial Risk Management
practice of Navigant Consulting, Inc., based out of the Chicago office. He has more than 25 years of valuation and
financial advisory experience working with financial institutions and energy companies of all sizes.
In his current role at Navigant Consulting, Mr. Hitt oversees engagements governing acquisitions and sales of
banks and thrifts and is a leader in the firmâs efforts to develop and employ effective valuation and due diligence
techniques. His clients include some of the largest and best known financial service and energy corporations in
America, including Deutsche Bank, Bank of America, Bank of Montreal, KeyCorp, Charles Schwab, First Republic
Bank, E*Trade Financial Corp., NRG, LS Power, Primary Energy and Aquila.
Formerly a Managing Director of BearingPoint Incâs Valuation and Financial Services Advisory practice, Rick led
the development of a multi-faceted practice that focused on banks, thrifts, specialty finance and energy companies.
His experience includes financial advisory to community and regional banks, including due diligence, fairness
opinions, shareholder value analyses, merger and acquisition transactions as well as capital raising and investment
strategies. Prior to BearingPoint, Mr. Hitt was a partner in KPMGâs Valuation Services Practice.
Recent assignments Mr. Hitt has directed include:
âĸ Valued individually all the domestic and international electric generating facilities of a $5 billion utility for
asset-backed funding purposes. The project included separate valuations of the power contracts and
merchant plants.
âĸ Valued the domestic and international electric generating, electric and gas transmission and distribution
assets of a $4 billion utility for asset-backed funding purposes. The project also included valuing complex
electricity and natural gas derivatives.
âĸ Performed financial analyses for the domestic operations of a $10 billion utility for debt restructuring
purposes.
âĸ Rendered a fairness opinion to a Midwest life company as part of establishing a mutual holding company.
âĸ Rendered a fairness opinion to a retail self insurance fund related to an investment in a workers
compensation insurance company.
âĸ Provided SFAS 141 and 142 valuation assistance in the merger of two $150 billion US banks.
22. Thomas J. McNulty
Director
Navigant Consulting
909 Fannin St. Suite 1900
Houston, TX 7010
Tel: 713.646.5078
Cell: 832.472.3717
thomas.mcnulty@navigant.com
Professional History
īˇ Navigant Consulting, Inc.
īˇ Sirius Solutions LLP
īˇ Plains All American
īˇ Duke Energy
īˇ Enron International
īˇ US Foreign Service
īˇ Brown Brothers Harriman
Education
īˇ M.B.A. (Accounting & Finance),
Kellogg, Northwestern University
īˇ B.A. (History), Yale University
Tom McNulty is a Director in the Valuation & Financial Risk Management practice of Navigant Consulting,
Inc. His specialties are transaction and commercial analytics, valuation, and risk management. Specifically, his
practice offers clients a unique combination of strategic, financial, and transactional advisory services. Mr.
McNulty is based out of the Houston office, and he has more than 20 years of financial advisory and related
experience work.
As a consultant, Mr. McNulty has advised clients drawing on his valuation, transactions, risk management,
treasury and international credentials. Specifically, he has assisted with the valuation of securities, business
units, acquisition targets, derivatives, and equity incentive plans. In industry, and as an advisor, he has
worked on more than $38 billion in MD&A deals and has valued more than $8.5 billion notional in futures,
options, and other derivatives.
In his current role at Navigant Consulting, Mr. McNulty directs engagements governing acquisitions and
divestitures throughout the energy complex, including upstream oil & gas, midstream, merchant power,
renewable energy, energy services, trading and marketing, as well as LNG. He also performs valuation work
for clients with complex equity, fixed income, and commodity derivative instruments.
Recent assignments Mr. McNulty has led include:
âĸ Provided ASC 815 assistance to several energy companies related to their derivatives portfolios.
âĸ Rendered a comfort opinion to a energy hedge offering a new midstream oil & gas fund.
âĸ Rendered an opinion to an oilfield services company for a related party transaction.
âĸ Directed ASC 805 project for the reverse merger of two private drilling companies.
âĸ Provided ASC 718 valuation assistance to a publicly traded oilfield services company for its restricted stock
units and stock options.
âĸ Delivered ASC 718 valuation assistance to a privately held upstream oil & gas company for its equity
incentive plan.
âĸ Led the valuation work on the GP interest in a privately-held midstream company for a large litigation
engagement.
Resumes
23. Tom Houlihan
Director
Navigant Consulting
1180 Peachtree Street N.E.
Suite 1900
Atlanta, GA 30309
Tel: 404.602.5038
Cell: 404.849.1243
thomas.houlihan@navigant.com
Professional History
īˇ Navigant Consulting, Inc.
īˇ Intercontinental Exchange
īˇ Mirant Corporation
īˇ JC Bradford & Co
Associations and Licenses
īˇ FINRA Series 7 & 63
īˇ Candidate Member, American
Society of Appraisers
Education
īˇ MBA, Finance, Vanderbilt
īˇ BSBA Finance, Creighton
Thomas Houlihan is a Director in the Valuation & Financial Risk Management practice of Navigant
Consulting, Inc.
Mr. Houlihanâs principal focus is on valuation and advisory engagements related to the energy sector. In this
role, has provided clients with valuation consulting services for purposes including transaction due diligence,
fairness opinions, capital raising & investment strategy as well as litigation, tax and regulatory purposes. With
more than 16 years of valuation and financial advisory experience, Tom has provided valuation and
transaction assistance for client engagements involving some of the worldâs largest energy companies and
utilities, as well as midâsized companies, energy startâups and private investment funds.
Prior to joining Navigant Consulting, Tom held various roles in investment banking and corporate finance,
including senior positions in the debt capital markets division of JC Bradford & Co (now UBS Capital Markets)
and more recently in corporate development and asset management positions with Mirant Corp (Southern
Energy) and as Director of Finance and Strategy for Intercontinental Exchange (ICE).
Recent assignments Mr. Houlihan has directed include:
âĸ Fair Market Value of multiple nuclear power plants - Retained by a large investor owned utility to assist
with evaluating options with respect to the early buyout or termination of lease financings secured by
the companyâs interest in several nuclear power plants.
âĸ Valuation of a municipal waste-to-energy generation facilities to assist a client with evaluating lease
repurchase and financing options;
âĸ Acted as primary valuation advisor to support a clientâs effort to finance the $210 million purchase of 680
MW North American peaking facility. NCI provided the client with additional valuation services to
support the company with allocation of purchase price for financial reporting.
âĸ Performed the valuation of North American gas distribution system serving approximately 426 active
meters through approximately 11 miles of gas distribution mains. NCI provided an estimate of the fair
market value of the business to assist the clientâs effort to secure just compensation for the assets, which
were taken through condemnation proceedings.
âĸ Retained by a major investment bank to provide an estimate of the prospective fair market value of a of
1,161MW CCGT. The estimate of value was necessary for financial reporting purposes, including
disclosures related to residual value guarantees stipulated in lease finance transactions for the plant.
Resumes
24. Neeli Souli Kohan
Associate Director
Navigant Consulting
90 Park Avenue, 10th Floor
New York, NY 10016
Tel: 646-227-4654
Cell: 646-232-8855
Neeli.kohan@navigant.com
Professional History
īˇ Navigant Consulting, Inc.
īˇ Deloitte Financial Advisory Services
LLP
īˇ Overseas Shipholding Group
Education
īˇ M.B.A., Finance, Pace University
īˇ B.S., Accounting, Yeshiva University
Accreditation
īˇ Chartered Financial Analyst (CFA),
CFA Institute
īˇ Certified Public Accountant (CPA),
NY and NJ
īˇ Candidate, ASA
Neeli Kohan is an Associate Director in the Valuation & Financial Risk Management practice of Navigant
Consulting, Inc. Ms. Kohan is based out of the New York office.
Ms. Kohan has more than 16 years of experience in the valuation of public and private businesses, securities,
and intangible/tangible assets. She has performed valuations for purposes of financial reporting (including
Business Combinations, Goodwill and Long Lived Asset Impairment Testing for US GAAP and IFRS), Federal
tax, project financing, sale/leaseback transactions, M&A due diligence, and management information purposes.
Industries served include power generation, gas, electric, water and wastewater utilities, alternative energy
providers, private equity, media and entertainment, shipping and transportation.
Ms. Kohan is a Certified Public Accountant, a Chartered Financial Analyst and a candidate of the American
Society of Appraisers. She has a B.S. from Yeshiva University in Accounting and an M.B.A. from Pace
University in Finance. Prior to joining Navigant Consulting, Ms. Kohan was with the Valuation practice of
Deloitte Financial Advisory Services, LLP.
Resumes
26. Technical Upstream Services
Opportunity Screening and Evaluation
Strategic framework and prospect screening, detailed analysis, and project
execution planning.
Economic and Capital Program Valuation
Reserves valuation, economic assessments, post-installation appraisals, risk
analysis, and stochastic modeling.
Asset Exploration
Exploratory drilling, regulatory planning/administration, and environmental
agencies reporting.
Oil & Gas Asset Evaluation & Exploitation
Drilling, completion, testing, production initiation, operations execution, drill-
bit to sales project execution, regulatory planning, and administration.
Capital Project Design & Implementation
Infrastructure and production facilities development, planning and
scheduling, full field development, portfolio management, basic engineering
design, FEED, construction, procurement, PMO, engineering data
management, wastes management, and water management.
27. Technical Upstream Services contâd
Operations Management
Artificial lift methods, facility assessments, completion techniques and
design, subsurface assessment and configuration, cost and expense
management/efficiency, well integrity, real-time operations optimization,
and integrated operations.
Reserve & Reservoir Engineering
Reserves re-assessment, recovery enhancement & production
optimization, reservoir management, and infill programs.
Asset Management
Operating asset rationalization, asset integrity management, and
turnaround optimisation.
Data Management & Innovation
Subsurface data management & data flow optimization, real-time data
management, and digital oilfield rationalization and optimization.
28. Terry Manning
Liya Dossybieva is an upstream oil & gas professional with over 14 years of international experience in
hydrocarbons production operations, business strategy & transformation, investment & divestment
projects evaluations, business optimisation and continuous improvement. She is an expert in
optimisation of upstream operations, operational excellence, and integrated operations models. Liya
develops and leads delivery of strategic and business transformation initiatives and programmes with
the view to optimise production assetsâ efficiency, reduce operational costs, increase production levels,
and improve recovery. Liya will deliver data analysis and hypothesis creation for Clients.
Liya Dossybieva
Terry Manning, a Director in Navigantâs global Oil & Gas practice based in Houston, is an upstream oil
and gas professional with more than 35 years of practical execution and asset management experience.
He is an experienced practitioner in the areas of production optimization, streamlining operations,
reservoir management and portfolio rationalization, including well completions, reserve analysis and
managing oil and gas assets to improve profitability. Terry has relevant and specific work experience in
many of the producing basins in the United States and in Canada. He is a strong advocate that drilling
and completion program optimization originates from repeatable processes for effective and efficient
development planning and real-time implementation appraisal. Terryâs Houston location provides
direct access for North American client personnel.
Mike Dyson is a Director in Navigantâs global Oil & Gas practice. He brings 30+ years of experience in
the upstream oil and gas business, having worked at Shell and BG Group around the world. His core
expertise is in well and production operations, capital projects, supply chain strategies and new
technology development and implementation. He is focused on providing consulting advice to oil & gas
E&P companies looking to improve their business performance, and is a strong advocate of holistic and
sustainable improvement by tackling all elements of transformation. These include rigorous operations
planning and execution, collaborative working across the supply chain, application of new technology,
teamwork, communications and personal leadership.
Mike Dyson
Our Upstream Professionals