Robert Reilly

Biography

Robert has performed the following types of valuation and economic analyses: economic event analyses, merger and acquisition valuations, divestiture and spin-off valuations, solvency and insolvency analyses, fairness and adequacy opinions, reasonably equivalent value analyses, ESOP formation and adequate consideration analyses, private inurement/excess benefit/intermediate sanctions opinions, acquisition purchase accounting allocations, reasonableness of compensation analyses, restructuring and reorganization analyses, tangible property/intangible property intercompany transfer price analyses, and lost profits/reasonable royalty/cost to cure economic damages analyses.

He has prepared these valuation and economic analyses for the following purposes: transaction pricing and structuring (merger, acquisition, liquidation, and divestiture); taxation planning and compliance (federal income, gift, estate, and generation-skipping tax; state and local property tax; transfer tax); financing securitization and collateralization; employee corporate ownership (ESOP employer stock transaction and compliance valuations); forensic analysis and dispute resolution; strategic planning and management information; bankruptcy and reorganization (recapitalization, reorganization, restructuring); financial accounting and fair value measurement; and regulatory compliance and corporate governance.

Robert has valued numerous types of business entities and securities, including the following: close corporation business enterprise, close corporation fractional ownership interests, public corporation restricted stock, public corporation subsidiaries/ divisions, complex capital structures (various classes of common/preferred stock; options, warrants, grants, rights), general and limited partnership interests, joint ventures, proprietorships, professional service corporations, professional practices, LLPs, LLCs, license agreements, and franchises.

He has performed valuation, remaining useful life, lost profits/economic damages, and arm’s-length price royalty rate/transfer price analyses related to numerous intangible assets including the following: advertising campaigns and programs, appraisal plants, broadcast licenses, building permits, cable TV franchises, certificates of need, computer software, computer databases, contract rights, core depositors, copyrights, credit information files, customer and supplier contracts, customer lists and customer relationships, development/commercialization rights, distribution rights, distribution systems, employment contracts, engineering drawings, film libraries, franchise contracts and rights, going-concern value, goodwill, leasehold interests, licenses, literary compositions, loan portfolios, management contracts, manuscripts, mining and mineral rights, mortgage servicing rights, musical compositions, noncompete covenants, patent applications, patents, patient charts and records, permits, possessory interests, prizes and awards, procedural manuals, production backlogs, proprietary technology, solicitation rights, subscriber lists, technical documentation and libraries, trained and assembled workforces, trade names, trademarks, trade secrets, training manuals and documentation, and air/water/land use rights.

He has prepared financial advisory analyses for merger and acquisition purposes: identification of M&A targets, valuation of target company synergistic/strategic benefits, identification and assessment of divestiture/spin-off opportunities, economic analysis of alternative deal structures, negotiation of deal price and terms, assessment of fairness and solvency of proposed transactions, and design/valuation of alternative equity and debt instruments.

Robert has valued various types of real property interests, including the following: commercial office buildings, easements, facades, hospitals, hotels, industrial cooperatives, industrial and manufacturing facilities, industrial parks, land improvements and infrastructures, mines, nursing homes, quarries, railroads, regional shopping malls, residential apartment complexes, restaurants, retail stores, rights of way, strip shopping malls, timber land, vacant rural land, vacant urban land, and warehouses. These valuations have encompassed the following real estate interests: fee simple, leasehold interest, leasehold estate, possessory interests, life interests, reversionary interest, air rights, water rights, mineral rights, use rights and development rights.

Robert has been accepted as an expert witness in various federal, state, and international courts and before various boards and tribunals. This expert witness testimony has related to business, security, and property valuation matters, to lost profits/economic damages matters, and to intercompany transfer price matters. He has served as an expert witness in the following types of litigation: bankruptcy, breach of contract, breach of fiduciary duty, condemnation, conservatorship, corporate dissolution, expropriation, federal income tax, federal gift and estate tax, intellectual property infringement, lender liability, marital dissolution, dissenting shareholder appraisal rights/shareholder oppression, property tax appeal, reasonableness of executive compensation, solvency and insolvency, stockholder suits, tort claims, wrongful death/personal injury, and reasonableness of royalty rates and/or transfer prices. He has served as a court-appointed arbitrator with respect to squeeze-out merger dissenting shareholder rights actions.

Previous Experience

Prior to Willamette Management Associates, Robert Reilly was a partner and national director of valuation services for the Deloitte & Touche accounting firm. Prior to Deloitte & Touche, Robert Reilly was vice president of Arthur D. Little Valuation, Inc., a valuation services firm. Prior to that, Robert was the director of corporate development for Huffy Corporation, a manufacturing company. Prior to that, he was a senior consultant for Booz, Allen & Hamilton, a management consulting firm.

Education

• Master of Business Administration, finance, Columbia University Graduate School of Business
• Bachelor of Arts, economics, Columbia University

Professional Affiliations

• Accredited in Business Valuation (“ABV”)—American Institute of Certified Public Accountants
• Accredited Senior Appraiser (“ASA”)—American Society of Appraisers, in business valuation
• Accredited Tax Advisor (“ATA”)—Accreditation Council for Accountancy & Taxation
• Certified Business Appraiser (“CBA”)—National Association of Certified Valuators and Analysts
• Certified in Financial Forensics (“CFF”)—American Institute of Certified Public Accountants
• Certified Management Accountant (“CMA”)—Institute of Management Accountants
• Certified Public Accountant (“CPA”)—Ohio and Illinois
• Certified Real Estate Appraiser (“CREA”)—National Association of Real Estate Appraisers
• Certified Review Appraiser (“CRA”)—National Association of Review Appraisers and Mortgage Underwriters
• Certified Valuation Analyst (“CVA”)—National Association of Certified Valuators and Analysts
• Certified Valuation Consultant (“CVC”)—National Association of Review Appraisers and Mortgage Underwriters
• Chartered Financial Analyst (“CFA”)—CFA Institute
• Chartered Global Management Accountant (“CGMA”)—Association of International Certified Professional Accountants
• Enrolled Agent (“EA”)—licensed to practice before the Internal Revenue Service
• Practicing Affiliate—Appraisal Institute

Robert is a member of the American Bankruptcy Institute, American Economic Association, American Institute of Certified Public Accountants, American Society of Appraisers, Business Valuation Association, The ESOP Association, Illinois Society of Certified Public Accountants, CFA Institute, Institute of Professionals in Taxation, Institute of Certified Management Accountants, International Association of Assessing Officers, National Association of Business Economists, National Association of Certified Valuators and Analysts, National Association of Real Estate Appraisers, and Ohio Society of Certified Public Accountants.

Robert is a state certified general appraiser in the state of Illinois and several other states.

He has completed the following Appraisal Institute real estate appraisal courses: 110–appraisal principles, 120–appraisal procedures, 200R–residential market analysis and highest & best use, 210–residential case study, OL300GR–online real estate finance statistics and valuation modeling, 310–basic income capitalization, 320–general applications, 400–USPAP update, 410A–standards of professional practice, 420–standards of professional appraisal practice, 420B–business practices and ethics, 430C–standards of professional practice, 510–advanced income capitalization, 520–highest and best use analysis, 530–advanced cost and sales comparison approaches, 540–report writing and valuation analysis, 550–advanced applications, SE700–the appraiser as an expert witness: preparation & testimony, online using your HP12C financial calculator, general appraiser market analysis and highest & best use, general appraiser sales comparison approach, general appraiser site valuation and the cost approach, business practices and ethics, historic preservation (façade) easements: appraisal techniques and valuation issues, uniform appraisal standards for federal land acquisitions: practical appreciations, 7-hour National USPAP course, and 15-hour National USPAP course.