Andy Ward has over 20 years of experience in performing valuation and financial advisory services for a variety of purposes and has significant experience in performing analyses for a broad array of industries. In particular, Andy has extensive ESOP valuation experience, and has advised numerous fiduciaries and companies in connection with ESOP transactions.
Andy is an active member of the ESOP Association’s Board of Directors. In addition, he is the former Chair of the Valuation Advisory Committee of the ESOP Association, where he also served two terms on the Board of Governors. He frequently speaks at professional conferences and seminars and authors articles on valuation and ESOP-related topics.
Prior to joining Stout, Andy was a senior associate with a national valuation firm and a consultant in the specialty consulting division of a Big 4 international accounting and consulting firm. In these roles, Andy performed, supervised, and executed numerous valuation, financial advisory, and litigation consulting engagements.
Select Publications
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The ESOP Association’s ESOP Report February 2010
The Impact of Public Stock Market Volatility on Private ESOP Company Valuations
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Willamette Management Associates ‘Insights’ September 2004
A Second Fairness Opinion Can Bring Independence to M&A Decision Making
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Willamette Management Associates ‘Insights’ March 2003
Taxpayer-Friendly Letter Ruling Describes Estate Planning Strategy for Control Owners of ESOP Corporations
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Willamette Management Associates ‘Insights,’ Special Issue January 2002
Minimizing Audit Concerns Regarding Purchase Price Allocations to Player Contracts
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Willamette Management Associates ‘Insights’ January 2001
ESOP Fairness Opinions
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Robert F. Reilly, Robert P. Schweihs, Contributing author: Andrew Ward (New York: McGraw-Hill)
Valuing Small Businesses and Professional Practices
Select Presentations and Speeches
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The ESOP Association Annual Conference May 2017
Current Financing Market
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The ESOP Association's Annual Conference May 2017
ESOP Transaction Financing Issues and Market Update
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The ESOP Association’s Las Vegas Conference & Trade Show November 2016
Strategic Alternatives for Partially-Owned ESOP Companies
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The ESOP Association’s Annual Conference May 2016
ESOP Transaction Financing Issues and Market Update
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The ESOP Association’s Las Vegas Conference & Trade Show November 2015
Evaluating Offers and Selling an ESOP Company
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The ESOP Association’s Las Vegas Conference & Trade Show November 2014
Strategic Alternatives for Partial ESOP Companies
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The ESOP Association’s Las Vegas Conference & Trade Show November 2013
Use and Valuation of Synthetic Equity
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The ESOP Association’s Annual Conference May 2013
Seller Financing in ESOP Transactions
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The ESOP Association’s Las Vegas Technical Conference and Trade Show November 2012
The Role of the ESOP Fiduciary When a 3rd Party Makes an Offer to Buy Your ESOP Company
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The ESOP Association’s Tri-States Chapter Conference May 2012
Trends in Executive Compensation for ESOP Companies
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The ESOP Association’s Annual Conference May 2012
Basic Valuation and Introduction to Repurchase Obligation
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The National Center for Employee Ownership Conference April 2012
Executive Benefits In An ESOP Company
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The ESOP Association’s Las Vegas Technical Conference and Trade Show November 2011
Impact of Repurchase Obligation on Valuation
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The National Center for Employee Ownership (NCEO) Webinar May 2011
Handling the Repurchase Obligation-How Repurchase Affects Valuation
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The ESOP Association’s Annual Conference May 2011
Advanced Valuation Issues
Practice Areas
Focus Industries
Education
B.A., Economics and Management, DePauw University
McDermond Center for Management and Entrepreneurship Management Fellow
Professional Memberships
ESOP Association - Former Chair of the Valuation Advisory Committee
ESOP Association - Elected to the Board of Governors
National Center for Employee Ownership (NCEO)
Business Valuation Association of Chicago
Community Engagement
Perspectives Charter Schools - Board of Directors