Advisory Board

Mike Adhikari has 15+ years of M&A experience and 17+ years of operating experience with a Fortune 500 company. He teaches at the Kellogg Business School of the Northwestern University. He has three post-graduate degrees, including an MBA from the University of Chicago. His valuation work has been quoted in the Wall Street Journal and US Congress. Mike used early version of BVXä to quantify reduction in valuation of small businesses due to 12/99 tax law change that repealed installment sale provision. Wall Street Journal quoted this analysis and U.S. Congress used it during the hearings to reverse the tax law change. Mike worked actively with various organizations in Washington to help achieve reinstatement of the installment sale provision in 12/2000. Mike Adhikari continues his M&A practice as the President and owner of Illinois Corporate Investments Inc. (ICI), a mid-market M&A Intermediary firm handling transactions valued between $1-100 Million. Over the last 15 years, ICI has successfully completed sell-side assignments, buy-side engagements, business valuations, and special M&A projects. ICI specializes in manufacturing , service and distribution businesses and has successfully represented clients in the U.S., Europe and Asia. ICI has completed transactions involving profitable, unprofitable and under-performing businesses for private and public companies. Prior to purchasing ICI, Mike worked for a $400 million division of a Fortune 500 company manufacturing graphic arts equipment and supplies. He held various positions including Director of Marketing, Director of Strategic Planning, Director of Manufacturing and Manager of R&D. Mike has earned an MBA-Finance (1977, University of Chicago), an MS-Computers (1972, Cleveland State University), an MS-Mechanical Engineering (1970, Illinois Institute of Technology), and a BS-Mechanical Engineering (1968, India). Since 1994, Mike has been teaching Mergers & Acquisitions, as a guest speaker, in the Entrepreneurial Finance class of the MBA program at the Kellogg Business School of the Northwestern University. This class has been ranked in the "Top 12" in the country by Business Week magazine.

Sid Shaver serves as Managing Director of the Houston, Texas office. His focus is primarily on privately held business transactions including mergers, acquisitions, management buyouts, corporate finance, and recapitalizations often involving private equity groups. Prior to joining Hunter Wise Financial Group, he was managing partner of a certified public accounting firm and a software technology firm. Mr. Shaver serves on the Executive Board of the Alliance of Merger & Acquisition Advisors and the editorial board of the Merger & Acquisition Connection publication. Mr. Shaver is a Series 7 and 66 Registered Securities Representative and a Series 24 Registered Securities Principal. He is also a Certified Public Accountant and a Certified Merger & Acquisition Advisor.

Chris began his career with a progressive CPA and Consulting firm, BiggsKofford located in Colorado Springs immediately after graduating with a degree in Accounting. Chris progressed quickly and made Partner at BiggsKofford after only 6 years with the Firm and later became the firm’s President and CEO.

Today, Chris plays a key role by directing several sectors of BiggsKofford’s business including the Firm’s Merger & Acquisition Practice. As a result, the Firm has become a leader in this sector throughout the Western U.S., as demonstrated by the Firm’s involvement in over 300 merger, acquisition, or sale transactions in California, Arizona, New Mexico, and Colorado.

Chris’ commitment to the acquisition and sale industry is personified by earning the Certified in Merger & Acquisition Advisor (CM&AA) designation, and by obtaining his Series-7 Securities License. He is now the lead instructor for the CM&AA designation, taught through Loyola University’s Executive MBA Program in Chicago.

Chris has been active in many professional organizations, including sitting on the board of the Alliance of M&A Advisors in Chicago, Colorado Springs Technology Incubator, High Altitude Angel Investors, CU Chancellor’s Leadership Council, and formally on the board of the Colorado Association of Business Intermediaries. He is a member of the Alliance of M&A Advisors (AMAA), Association of Corporate Growth (ACG), Colorado Association of Business Intermediaries (CABI), AICPA, and the Colorado Society of CPA’s.  

Stone Carlie & Company, L.L.C. is a provider of tax and business advisory services to small and medium-sized companies and their owners and executives in the Midwest region. Stone Carlie has over 50 years of experience in providing extensive business and individual services including all levels of tax preparation and tax planning services, assurance services, Financial Insights Services, Tax Insight Services, Technology Risk and Security Services, strategic business planning, executive financial planning, financial education workshops, investment advisory services and estate and succession planning. Stone Carlie also provides valuation services, business performance reviews, merger and acquisition services, and healthcare consulting including medical practice management.

ACT Consultants, Inc. is a premier West Coast merger and acquisition firm with middle market intermediaries located in Seattle, Portland, San Francisco and New York. Dr. Campbell is principal and managing director of the Portland/Vancouver office with primary offices located at 110 Columbia Street, Suite 203, Vancouver, WA 98660. Dr. Campbell has managed over $750 million in successful mergers & acquisitions during his career.  He serves as chairman of AM&AA's research committee.

Ronald D. Rudich, CPA/ABV/CFF, MS, CVA, CBA, CM&AA, CMEA, SBA, BVAL the Director of the Business Valuation, Machinery and Equipment Valuation, and Litigation Support Services Department of the accounting and business consulting firm of Gorfine, Schiller & Gardyn, PA, is an authority in this area. Since 1966, Mr. Rudich has provided expert guidance, due diligence and services to clients and their businesses. Mr. Rudich's responsibilities include valuations of closely held and publicly traded companies, machinery & equipment appraisals, strategic business planning, cost segregation studies, budget and complex forecasting services, business consulting, business loss computations, depositions and court testimony.

Lloyd advises business owners on the strategies necessary to build long-term shareholder value. He assists his clients with value growth – seeking opportunities to build value and understanding risks that erode value – with the goal of helping to achieve the business owner’s liquidity goals. This assistance often involves buying or selling a business, securing adequate growth capital or optimizing the company’s capitalization. Lloyd’s range of expertise extends to all aspects of financial and operational management. His experience allows him to identify the drivers of corporate value, which is vital in assessing the viability and worthiness of capital transactions. His knowledge of the financial marketplace enables him to structure transactions in a manner most advantageous to his clients. In addition, he provides business owners with advice on financial management, including performance measurement, costing and budgeting, with the goal of maximizing shareholder value. Before joining Meaden & Moore, Lloyd held positions in credit, finance and commercial lending with a commercial lending institution.

James W. Cornell is President of Praxiis Business Advisors. Since 1980, Jim has advised clients with revenue from $1 million to $4 billion in organizational development, management, marketing, due diligence, negotiations, business transfers, capital transactions, business valuations, turnaround of troubled operations and companies, security, and government contracts . He and the firm also provide Business Coaching and Mentoring to entrepreneurial start-ups and growth stage ventures. He holds a Bachelor of Science in Business, Management and Economics, and a Master of Business Administration from SUNY Empire State College. He has been awarded the professional credentials of Certified Business Counselor, Certified Turnaround Professional, Certified Merger & Acquisition Advisor, Certified Protection Professional, Certified Business Appraiser, and Certified Review Appraiser.

Mr. Davis has significant experience providing investment banking services to clients in a wide variety of manufacturing, distribution and service industries. His clients have ranged from closely held private companies to large cap publicly-traded corporations. Mr. Davis has advised clients on mergers & acquisitions, financial restructurings and private placements of debt and equity. In addition, he has advised clients on structuring and financing ESOPs, recapitalizations, leveraged buyouts, management buyouts, going-private transactions and has provided complex financial analysis for the rendering of fairness and solvency opinions.

* BS Electrical Engineering, Purdue University, 1969
* MS Industrial Administration, Krannert School, Purdue University, 1969
* 30 Years experience in corporate management with 3M, Bemis Packaging, GE Major Appliance, Hillenbrand Industries, Batesville Casket & Premier Bedding, LLC;
* 20 years experience at the Senior Management level
* 20 Years experience in Marketing & Strategic Planning
* 10 years experience in Manufacturing, Logistics & General Management
* 20 Years experience on various corporate Boards of Directors
* Owner/Manager of various small businesses
* Licensed Florida Real Estate Broker
* Licensed Indiana Real Estate Broker
* Certified Business Intermediary
* M&A Master Intermediary
* Certified M&A Advisor

*Member:
Alliance of M&A Advisers (AM&AA),
Association for Corporate Growth (ACG),
Business Brokers of Florida (BBF),
International Business Brokers Association (IBBA),
M&A Source,
MainSource

* Co-Chair, AM&AA Licensure Task Force, 2006 to present

* Honors:
AM&AA Chairperson of the Year, 2006
AM&AA Member of the Year, 2007
AM&AA Member of the Year 2008