Buy/Sell Consideration

Background

Martin Hanan is a Managing Director with 40 years of business valuation, transaction and business economics consulting experience. He was the founder and President for ValueScope, and joined Marshall & Stevens in 2024, with their acquisition of ValueScope. He works primarily in transaction advisory and financial valuation.

Having created two industry-leading firms, Mr. Hanan has managed hundreds of engagements for other professional advisors, and government and corporate clients in a wide array of industries.

Mr. Hanan’s expertise includes the valuation of closely held business interests, financial derivatives, and intellectual property; governance issues including executive compensation; and financial and tax reporting issues including transfer pricing, transactional assistance and methods designed to accelerate corporate cash flow and value.

Mr. Hanan’s strengths include deep insight into econometrics, theory and methodology, business appraisal, and empirical analysis. He is highly analytical, quantitative and creative, and utilizes these skills in assignments ranging from value measurement to value harvesting to expert testimony.

Professional Highlights

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Background

Brent Shockley is a Managing Director with twenty-five years of experience performing business valuations for transaction and tax purposes, fair value analysis for financial reporting, healthcare valuations, and litigation support. He joined Marshall & Stevens in 2024, with the acquisition of ValueScope.

Mr. Shockley is experienced in business appraisal and valuation of underlying intangible assets for financial and tax reporting, merger and acquisition analyses, and litigation support. He has broad industry knowledge with particular valuation experience in technology, health care and financial services. His experience in valuing intangible assets includes trade names, trademarks, customer lists (or relationships), and noncompete agreements. Mr. Shockley has experience in valuing several types of securities, including common stock, options, warrants and partnership interests.

Mr. Shockley was a senior analyst with Value Management Group where he provided business valuation and transaction advisory services to publicly traded health care companies, hospital networks, independent surgery centers, surgical hospitals and diagnostic imaging centers. During his tenure, he performed fair market value analyses of minority and controlling equity interests for acquisitions, joint ventures and transaction pricing. In addition, Mr. Shockley developed pro forma and feasibility analyses for early and mid-stage health care ventures.

As a senior consultant with CBIZ Valuation Group, LLC, Mr. Shockley performed valuation, financial advisory and litigation support services for publicly traded and closely held companies, partnerships, and joint ventures. His experience included engagements for financial reporting and regulatory compliance, including goodwill and intangible asset impairment, purchase price allocation, in-process research and development, and noncompete covenants. He was also involved in transaction and financing analyses including fairness opinions, employee stock option plan (ESOP) valuations, buy/sell agreements and financial advisory services. In addition, he performed various engagements for management requirements including options and restricted securities, economic value added, business plans, financial restructuring and strategic and market analysis. During his tenure with the firm, he co-authored “Pros and Cons of Stock Option Valuation Methods,” published in Investment News.

Mr. Shockley held analyst positions with Dain Rauscher, Inc. (now RBC Wealth Management) and PaineWebber (now UBS Wealth Management).

Professional Highlights

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Background

Jason Wainwright is a Managing Director with two decades of experience working in financial valuation. He joined Marshall & stevens in 2024 with the acquisition of ValueScope.

Mr. Wainwright has worked on and managed numerous business valuations and projects for firms spanning multiple industries, including energy, defense, consumer products, professional services, and healthcare. These projects have included financial modeling and Monte Carlo simulation, analysis of distressed debt investments, business appraisals, valuation of complex securities, litigation support, statistical and econometric forecasting and analysis, and corporate consulting projects including strategy, value enhancement, and capital structure optimization.

Mr. Wainwright’s prior industry experience includes serving as a senior analyst for one of the nation’s leading aerospace and technology companies, Lockheed Martin, where he held key positions in both the finance and strategy departments. His work there included the qualification and analysis of merger and acquisition candidates as well as assessing new business opportunities in the energy market. Additionally, he supported the development of the organization’s annual strategic plan and market forecast and conducted competitive intelligence research. Prior to Lockheed Martin, Mr. Wainwright was a contributing author and editor at Kaplan Schweser, a global education company focused on preparing professionals for financial designations. He has authored content related to quantitative financial analysis, asset management, financial risk management, alternative investment analysis, securities analysis, and valuation.

Mr. Wainwright is recognized in the areas of new business analysis and strategic planning. His strengths include deep insight into investment opportunities and the preparation of investment analyses and recommendations.

Professional Highlights

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Background

Matthew R. West, is a Principal and Executive Managing Director with Marshall & Stevens Incorporated.  He serves as National Practice Leader for the Healthcare Practice and the Energy & Infrastructure Practice. He is also active in the Financial Valuation & Consulting Practice.

Mr. West specializes in the valuation of healthcare systems, physician practices, business enterprises, debt and equity instruments, and intangible assets. Analyses performed are used for compliance and consulting purposes including buy/sell consideration, purchase price allocation (FASB ASC 805), capital stock/stock option valuations (IRC 409A, FASB ASC 718), impairment (FASB ASC 350), estate and gift tax reporting, ESOP formation and reporting, and financial reporting of complex financial instruments including auction-rate securities (FASB ASC 820). He also leads Fairness Opinion engagements.

Mr. West has a specialty in the valuation of dialysis centers and practices.

Mr. West has provided expert witness testimony in valuation and economic damage assessments on separate occasions in the states of Colorado and Oklahoma.

Mr. West earned a Master's in Business Administration with an emphasis in Accounting and Taxation from St.  Louis University and a Bachelor of Science in Business Administration and Finance from the University of Kansas. 

Mr. West is an Accredited Senior Appraiser (“ASA”) of the American Society of Appraisers, in the Business Valuation discipline and in Intangible Asset Valuation.  He has also received a Certification of Completion, American Society of Appraisers— Advanced Multidisciplinary Healthcare Valuation Education Program.

Professional Highlights

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