Wenk, Don

Don Wenk, CPA, ABV, CFA, ASA, CFF

Partner

Don Wenk is a highly credentialed business valuation professional who has provided business valuation services for: 

Don received a Bachelor of Science in Accounting from Arizona State University in 1992 and earned his Master of Business Administration (MBA), also at Arizona State University, in 1996.
Don has been a guest speaker for the State Bar of Arizona and the Arizona Society of CPAs and has written several articles on business valuation. He has provided expert testimony in federal court and been admitted as an expert in the field of business valuation.
Prior to joining Kotzin Valuation Partners, Don was a director at Ringel Kotzin Valuation Services and a senior consultant in the Corporate Value Consulting Group in the Phoenix and Los Angeles offices of PricewaterhouseCoopers LLP.

Education
Arizona State University, M.B.A., Corporate Finance, 1996
Arizona State University, B.S., Accounting, 1992
Certifications and Designations
PROFESSIONAL AFFILIATIONS
American Institute of Certified Public Accountants
Arizona Society of Certified Public Accountants
CFA Institute
American Society of Appraisers
Arizona State University MBA Council

Business and Intangible Asset Valuation Experience

Conducted detailed financial and industry analyses to determine the value of closely held businesses, business units and intangible assets; valuations included income, market and asset based approaches
Performed business valuations for a variety of purposes, including marital dissolution, estate and gift taxes, financial reporting, spin-offs, collateral evaluation for asset securitization purposes, buy-sell agreements, bankruptcy and reorganization proceedings, mergers and acquisitions, S-corporation conversions, shareholder disputes, stock option issuance, and damages in commercial litigation
Performed valuations of identifiable intangible assets pursuant to Accounting Standards Codification Topic (ASC) 805 for purposes of purchase price allocation subsequent to acquisition
Performed valuations of reporting units for private companies and SEC-registered clients for determination of goodwill impairment as stipulated by accounting pronouncement ASC 350
Valuation engagements were conducted across a broad spectrum of industries, including manufacturing, retail, distribution, high tech, health care, restaurants, gaming, direct selling, and agriculture, plus recent experience in the valuation of businesses in the legal marijuana industry
Developed financial models, analyzed industry trends and risk characteristics, and developed discount rates for the valuation of franchised health club locations, franchised convenience and gas stores, franchised quick service and casual dining restaurants, and independent grocery/supermarket locations for debt securitizations collateralized by commercial mortgages and business enterprise values
Valued stock options of privately held and publicly held companies for purposes of executive compensation, financial reporting, and marital dissolution
Assisted owners of private companies in preparing offering memorandums, locating and connecting potential buyers, and negotiating the sale of the company

Commercial Litigation and Forensic Accounting Experience

Assisted legal counsel in the pre-complaint through trial phases of various commercial litigation matters; support services included business valuation, lost profit and damage analysis, detailed financial analysis, forensic accounting analysis, and preparation of expert reports
Reviewed accounting records of various entities for purposes of analyzing and identifying fraudulent conveyance allegations and asset diversions
Prepared graphs and exhibits used by legal counsel at trial

General Financial Consulting Services

Traced cash receipts and disbursements and reconstructed accounting records and financial transactions for a variety of clients, including SEC-registered companies
Served as interim controller for a mining company in bankruptcy, with tasks including supervising accounting staff, performing month-end closings, and preparing financial statements for the U.S. Trustee
Performed specified audit procedures on target companies prior to acquisition by client
Presentations
“Valuation Pitfalls in Buy-Sell Agreements,” Business Law Section, State Bar of Arizona, January 2011
“Helping Your Clients Navigate the Valuation Pitfalls in Buy-Sell Agreements,” Arizona Society of Certified Public Accountants, September 2010
“Evaluating the Butler-Pinkerton Method”, Group Discussion Leader, Arizona Society of Certified Public Accountants, February 2008
“Business Valuation Overview,” Genworth Financial, Inc., September 2006
“Business Valuation Issues,” Second Saturday Series (monthly seminar to the public on marital dissolution issues), October 2004
“Business Valuation – An Introductory Guide,” Sunrise Bank, February 2002
Articles
Addressing Valuation Issues Is Essential to an Effective Buy-Sell Agreement,” Public Accountant Magazine, September 2011
Valuing Private Companies in a Volatile Economy,” Valuation Perspectives , September 2009
“Valuing Minority Interests in Closely Held Companies,” Real Estate Trends and Insights, Winter 2009
“Purchase Accounting: The Evolution Continues with SFAS 141R” (co-author), ASCPA eNews, July 2008
“SFAS 141R and the Valuation of Identifiable Intangible Assets” (co-author), Valuation Alert, December 2007
“Section 409A a Lurking Beast for Private Companies” (co-authored with Lynton Kotzin), AZ CPA, February/March 2007
Valuation Issues with Respect to Preferred Stock” (co- authored with Lynton Kotzin), Valuation Perspectives, Fall 2006
“Structuring the Deal,” Valuation Perspectives, Spring 2006
“Active M&A Market Driving Up Valuation Multiples,” Valuation Perspectives, Winter 2006
Post-Valuation Date Events: to Use or Not to Use?” (co- authored with Lynton Kotzin), Valuation Perspectives, May/June 2005
Blockage Discounts in the Valuation of Public Stock,” (co- authored with Lynton Kotzin), Valuation Perspectives, January/February 2005
The Effect of Potential Built-In Gains Taxes on Valuation” (co-authored with Lynton Kotzin), Valuation Perspectives, November/December 2004
Using an Optimal Capital Structure in Business Valuation” (co- authored with Lynton Kotzin), Business Appraisal Practice, Spring/Summer 2004
"Business Valuation, Real Estate Appraisal, or Both?" Valuation Perspectives, September 2003
Professional Background
Kotzin Valuation Partners (Phoenix: Partner (2009-present)
Ringel Kotzin Valuation Services (Phoenix), Director (2000-2009)
PricewaterhouseCoopers LLP (Phoenix and Los Angeles): Senior Consultant, Corporate Value Consulting Group (1996–2000)
Miller, Allen & Co., P.C. (Phoenix): Auditor (1992-1994)
Community Activities
Friends of Namibian Children: Treasurer
Junior Achievement: Former volunteer
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