Machinery and Equipment

Background

Anthony Festa, ASA, is a Managing Director in the New York Office’s Machinery & Equipment Practice of Marshall & Stevens Incorporated. Mr. Festa’s responsibilities include overseeing the delivery of valuation services to the Firm’s machinery and equipment valuation clients.

Mr. Festa leads asset valuations for buy/sell consideration, financing, insurance, tax reporting, and financial reporting purposes including purchase price allocations (ASC 805), impairment testing (ASC 350 and ASC 360), and Internal Revenue Code Sections 861, 382, and 704(c).  Financing engagements include valuations for leasing and other structure finance transactions and bankruptcy/reorganization including fresh-start accounting.

Mr. Festa has served clients in a wide variety of industries including, but not limited to: automotive, aerospace and defense, broadcast and communications, chemicals, entertainment, financial services, food production, healthcare, hospitality, mining and milling, pharmaceutical, pulp and paper, restaurants, semiconductor, telecommunications, textiles, water and other infrastructure projects.

Specific to the water infrastructure industry, he has performed valuations for several Texas-based investor-owned water and wastewater plants for a transaction, a New Jersey township for a transaction, and a New Hampshire wastewater plant for financing purposes. He is an associate member of the National Association of Water Companies (NAWC) and has spoken at numerous professional conferences on the valuation of water utilities including the NAWC Water Summit in 2019.

He is an Accredited Senior Appraiser (ASA) in Machinery & Technical Specialties with the American Society of Appraisers. He has served in multiple leadership roles for New York City chapter of the American Society of Appraisers including President of the chapter in 2010-2011.

Professional Highlights

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Background

Greg Feldman is a Managing Director with Marshall & Stevens Incorporated and MS Capital. He is responsible for business development and client management.

Mr. Feldman joined Marshall & Stevens in 2010. He works with public and private companies and their trusted advisors to provide valuations of businesses, equity and debt instruments, intangible assets, machinery & equipment, and commercial real estate including cost segregation studies. Analyses are provided for buy/sell consideration, financial reporting, financing and recapitalization, tax planning and reporting, insurance placement and dispute resolution.

Prior to Marshall & Stevens, Mr. Feldman successfully served in business development and operational roles within a diverse group of industries including Big 4 and other international accounting firms, retail, consumer products, and printing.

Mr. Feldman has received extensive training in Sales, Sales Management, Negotiation, Project Management and overall Business Development.

He is active on several boards including Bloomingdale Youth Sports Association and the Tampa Chapter of Association of Corporate Growth (“ACG”) serving as the Membership Committee Chair.

Professional Highlights

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Background

Leo Dorsey is a Director for the Machinery & Equipment Practice of Marshall & Stevens Incorporated.

Mr. Dorsey has worked in the valuation industry for over 30 years. He provides analyses of machinery, equipment, buildings and improvements for clients in a wide variety of industries for financing, financial reporting, tax reporting and insurance placement.

Prior to Marshall & Stevens in 2011, Mr. Dorsey was employed in senior technical positions at Mesirow Financial Consulting, Navigant Capital Advisors, LLC, Lease Valuation International, Inc., and American Appraisal Associates, Inc.

Mr. Dorsey is an Accredited Senior Appraiser (“ASA”) with the American Society of Appraisers, Machinery & Technical Specialties (“MTS”) - Machinery & Equipment. He is active in the Equipment Leasing and Finance Association (“ELFA”).

Professional Highlights

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Background

Robert Owens is a Director for the Machinery and Equipment and Cost Segregation practices at Marshall & Stevens Incorporated. He specializes in the valuation of machinery, equipment, buildings and improvements.

Active in the appraisal profession since his association with Marshall & Stevens in 1985, Mr. Owens prepares and supervises appraisals for the purpose of financial reporting (purchase price allocation and impairment), financing, tax planning and reporting including cost segregation, insurance placement, ad valorem, bankruptcy, litigation support, eminent domain.

Mr. Owens has experience preparing valuations for public and private companies in various industries, including, but not limited to agriculture, automotive, educational and religious institutions, electronics, semiconductor and related technology industries, energy production and distribution, food and kindred products, hospitality and gaming, manufacturing, medical, pharmaceutical, research and development, water distribution and waste treatment. His assignments often require international travel for property inspections.

Mr. Owens attended Hillsborough Community College and Oglier Heavener School of Real Estate. He is an Accredited Senior Appraiser (“ASA”) of the American Society of Appraisers, machinery and equipment discipline. He has served in numerous leadership positions for the Tampa Chapter of ASA including Chapter President.

Mr. Owens has testified as an expert witness before the United States Bankruptcy Court.

Professional Highlights

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Background

J. Fernando Sosa is a Managing Director in the Energy & Infrastructure Practice of Marshall & Stevens Incorporated. He is co-leader of its Chicago E&I region and oversees the execution of valuation consulting services to the firm’s public and privately held clients.

Mr. Sosa specializes in valuation and cost estimates of tangible assets and integrated projects/facilities both domestic and international. Independent valuation consulting and opinions are provided for buy/sell consideration, mergers, acquisitions, divestitures, and financings, financial reporting, tax reporting, bankruptcy/restructuring, feasibility, and matters of dispute including litigation support. He is fluent in Spanish and has performed appraisals for clients throughout the United States and for multinational clients in England, Spain, México, Panamá, Dominican Republic, Chile, El Salvador, Colombia, and Puerto Rico.

Mr. Sosa is responsible for the valuation of residential, commercial and industrial, community, distributed generation, and utility scale solar electric generation projects and portfolios, wind electric generation projects, stand-alone energy storage, microgrids, and renewable natural gas projects. He works with our Financial Valuation Practice on financial reporting analyses. He leads the valuation of facilities to qualify for repowering (“80/20 test”).

Tax reporting assignments are most commonly provided for compliance with Internal Revenue Code Sections 861, 382, and 704(c), cost segregation (MACRS) and personal property tax. Financial reporting assignment including purchase price allocations (ASC 805), impairment testing (ASC 350 and 360), and fresh start accounting (ASC 852).

Mr. Sosa has served clients in a variety of industries including aviation, construction, energy generation, entertainment, food processing, hospitality, manufacturing, medical imaging, plastic injection molding, retail, semiconductor, steel reprocessing, transportation, waste collection and recycle, water/wastewater treatment plants, and other infrastructure projects.

Prior to rejoining Marshall & Stevens, Mr. Sosa served in senior roles at Cushman & Wakefield, CohnReznick, and American Appraisal Associates. He started his valuation career in American Appraisal’s Public Accounting Service Group. He was employed by Marshall & Stevens from 2002-2005.

An Accredited Senior Appraiser (ASA) in Machinery & Technical Specialties with the American Society of Appraisers, Mr. Sosa currently serves as Chair of Membership for the International American Society of Appraisers and has served in leadership roles for the Chicago chapter of the American Society of Appraisers including chapter President in 2022-2023. He is a Member of the Royal Institution of Charted Surveyors (MRICS).

Professional Highlights

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