Gary is a director in the Milwaukee office in the Valuation Advisory Services practice. He provides direction and technical support for special-purpose, large multi-property, and multidiscipline engagements.
Gary has extensive experience in the valuation of businesses and assets in the following industries: oil and gas; mining and extractive; process industries; light, medium, and heavy capital goods manufacturing; and various service industries. He has served companies engaged in upstream, midstream, and downstream oil and gas operations, as well as companies engaged in the mining of construction aggregates, frac sand and other industrial sand, hard rock minerals, metallurgical-grade limestone, precious metals, coal, clay minerals, trona, and other extracted minerals. Gary also has extensive valuation experience with heavy manufacturing and process industry businesses, and conducts appraisals involving the valuation of business enterprises, capital stock, tangible and intangible assets, and tangible mineral reserves for purchase price allocation, as well as market value determinations for tax purposes.
In a cost analysis capacity, Gary has undertaken cost segregation studies to determine the appropriate capitalized basis of assets for federal tax, financial accounting, and retirement purposes.
Other industry experience includes valuations of businesses and assets in the chemical processing, branded/unbranded food and nondurables, high technology, and leisure and gaming sectors.
Gary has provided valuation expert witness and deposition testimony in Delaware court, federal tax and state courts, and international courts. In 2001, American Appraisal was awarded a valuation contract based on a circuit court judge’s findings in favor of American Appraisal’s methodology as presented by Gary. In 2007, Gary testified in Delaware court as an expert witness in valuation regarding an international value dispute between a group of minority investors and a control owner. In 2008, Gary provided expert valuation deposition testimony in support of a corporate entity’s position regarding its tax dispute with the US Treasury related to a debt equity swap in Mexico. In 2011, Gary provided testimony in New Zealand as a mining industry valuation expert regarding a disputed valuation of an iron sands mine.
Gary joined American Appraisal (now Duff & Phelps) in 1980. He has an MBA from Marquette University and a B.S. in construction administration from the University of Wisconsin – Madison. He is an Accredited Senior Appraiser by the American Society of Appraisers.