Granite Valuations
Rock-Solid Advice
Services
Valuations • Transactions • Business Advisory
Granite Valuations helps companies facing challenging financial reporting and tax valuations, transactions and business planning and analysis matters. The team’s experience as investors, operators, and advisors means Granite’s clients receive high quality advice and deliverables tailored to their needs. Granite’s Managing Directors are directly involved in all phases of the work and personally deliver efficient, high quality, timely and informed advice to their clients. The goal is to provide the greatest value for fee in all of Granite’s engagements.
Valuations
- Purchase Price Allocation (ASC-805 & IFRS 3 for reporting and IRC 1060 for Tax)
- Equity Valuation (ASC-718/IFRS 2 and IRC 409A)
- Impairment Analysis (ASC-360/IFRS 5 & 36)
- Complex Instruments (incl. derivatives, non-standard options, SAFEs, TSRs, etc.)
- Portfolio Valuation for Venture & Private Equity (ASC-820)
- Intangible Assets (ASC-805/IFRS 3, IRC 1060 and 482, and disputes)
- Gift and Estate Valuation (incl. IRS Form 709)
- Contingent Consideration Analysis (ASC-805)
- Intellectual Property Valuation (incl. IRC 482)
- Valuation of Spin-Outs
- Accretion/Dilution and EPS Determination
- Bankruptcy and Fresh Start Analysis
- Deal Term Analysis and Selection
- Transaction Pricing Analyses and Reasonable Value Ranges
Transactions
Transactions
- Contingent Consideration Analysis (ASC-805)
- Intellectual Property Valuation (incl. IRC 482)
- Valuation of Spin-Outs
- Accretion/Dilution and EPS Determination
- Bankruptcy and Fresh Start Analysis
- Deal Term Analysis and Selection
Business Advisory
- Business Plan and Financial Model Development
- Model Validation and Testing
- Equity Incentive Plan & Management Carve-Out Analysis & Structuring
- Customer Data analysis (e.g., Cohort turnover and economics)
- Support for Technical accounting Projects (e.g. Value of Post-Contract Customer Support)
Representative Clients
The Granite team has served a wide range of clients at all stage of growth. The Managing Directors work with early stage companies completing their initial financing rounds. The team also assists rapidly growing private companies as they add capital, make acquisitions and expand the reach and complexity of their organization. As clients go public Granite is there, advising them on equity compensation issues and preparing filings. For many clients Granite remains with them after their IPO, helping with M&A, tax and financial reporting and compliance issues. In addition, the team serves established public companies across a wide range of valuation issues, as well as aiding them on intellectual property matters, helping with international tax analyses, and special analytical projects.
(WK)
(MODN)
(TNAV)
(QUOT)
About Us
Granite was founded as a principals-led company; each of the key professionals is dedicated to working directly with clients in order to offer the most complete understanding of the issues and the most meaningful advice.
The team has impressive credentials with significant valuation, transaction, and operating management experience. Highlights of prior accomplishments include running the Valuation and Fairness Opinion practice at investment bank Pagemill Partners, founding and growing the San Francisco valuation team at Grant Thornton, helping to start KPMG’s Corporate Transactions office in the Bay Area, leading equity research at Shoreline Pacific, investing with Vertex Ventures and Intel Capital, and consulting with McKinsey.
Granite does not leverage work to junior staff or third parties. Its principals are always actively engaged in the project and available to clients. Each of the Principals has 20 or more years of experience, all of it with a focus on valuation, analysis and decision making. As seasoned businesspeople the Granite team can quickly assess a situation, recognize opportunities and threats, and advise clients on issues both within the scope of a particular assignment and beyond.
Granite’s valuation reports consistently withstand thorough scrutiny by auditors, tax professionals, senior management, and Company Boards. Much of the team’s work comes through referrals and relationships with leading law firms and accounting practices which have come to rely on Granite services.
Granite serves clients in a wide variety of industries and at all stages of growth, from early stage start-ups to IPO-ready firms and multi-national public companies.
About Us
Granite was founded as a principals-led company; each of the key professionals is dedicated to working directly with clients in order to offer the most complete understanding of the issues and the most meaningful advice.
The team has impressive credentials with significant valuation, transaction, and operating management experience. Highlights of prior accomplishments include running the Valuation and Fairness Opinion practice at investment bank Pagemill Partners, founding and growing the San Francisco valuation team at Grant Thornton, helping to start KPMG’s Corporate Transactions office in the Bay Area, leading equity research at Shoreline Pacific, investing with Vertex Ventures and Intel Capital, and consulting with McKinsey.
Granite does not leverage work to junior staff or third parties. Its principals are always actively engaged in the project and available to clients. Each of the Principals has 20 or more years of experience, all of it with a focus on valuation, analysis and decision making. As seasoned businesspeople the Granite team can quickly assess a situation, recognize opportunities and threats, and advise clients on issues both within the scope of a particular assignment and beyond.
Granite’s valuation reports consistently withstand thorough scrutiny by auditors, tax professionals, senior management, and Company Boards. Much of the team’s work comes through referrals and relationships with leading law firms and accounting practices which have come to rely on Granite services.
Granite serves clients in a wide variety of industries and at all stages of growth, from early stage start-ups to IPO-ready firms and multi-national public companies.
Granite Case Studies
Complex Capital Structure Analysis
Granite’s analysis of a client’s highly complex capital structure, including variable payments, shifting priority of claims, and guaranteed returns, allowed them to understand and significantly improve their senior executive incentives.
Valuing of Technology for Spin‑Out
A complex spin-out of Intellectual Property posed problems in establishing the entity value. Granite was able to gather data on private financings, public companies and internal assets to provide a meaningful assessment of the transaction value of the IP, enabling the deal to proceed successfully.
International Tax Transfer Limitations
The overseas sale of a significant software operation was subject to local laws limiting the transfer of assets to overseas buyers. An allocation of assets by both type and domicile provided documentation that the bulk of assets were not being moved out of the seller’s domicile country.
Post Customer Support Analysis
New revenue recognition standards (ASC 606) requires software companies to develop new approaches to analyzing and support certain revenue stream, including the recognition over time of revenue related to Post Customer Support (PCS) and related development, even in cases where the core software license is recognized in a single period. Granite assisted the client in developing the necessary detailed support for this new assumption while leveraging best practices for existing items, smoothing the reporting and audit process.
The Team
Ogen Perry
Managing Director
Ogen Perry has more than 20 years of experience in consulting, venture capital, and mergers and acquisitions. Ogen ran the valuation practices at Financial Intelligence and Pagemill Partners before co-founding Granite Valuations. He was previously a partner with Vertex Venture Capital. Prior to this, he founded a group of angel investors in the Bay Area. Ogen also led several investments while working at Intel Capital and was a partner at Helix Capital, a boutique M&A firm.
Before making the switch to the investment world, he was a consultant with McKinsey and Company in Brussels as well as in San Francisco. Ogen holds a BE and ME from Rensselaer Polytechnic Institute in New York and an MBA with distinction from the Wharton School at the University of Pennsylvania.
Phone: 650.948.3380
Email: operry@granitevaluations.com
Michael Blum
Managing Director
Michael Blum has more than 20 years of financial and management consulting experience. As a result, he has obtained significant experience in the valuation of companies, financial instruments and intangible assets, as well as in developing financial plans, business projections and valuations for venture-funded companies. Michael was a Director with the Valuation Practices at Financial Intelligence and at Pagemill Partners before co-founding Granite Valuations.
As head of Shoreline Pacific’s research department, Michael directed all research and structuring for over $200 million in placements for public and private companies, including valuation of companies and securities. Previously, he worked in KPMG Peat Marwick’s corporate transactions group, specializing in the valuation of companies, technologies and distressed instruments. Michael earned a BSE from the University of Pennsylvania and an MBA from the University of Chicago.
phone: 415.412.1835
email: mblum@granitevaluations.com
Andy Ross
Managing Director
Andy Ross has over 20 years’ experience providing valuation, financial advisory and management consulting services. He founded the Bay Area valuation practice for Grant Thornton and grew it to a multi-discipline, 10+ person team. Prior, Andy held leadership roles at Huron Consulting Group, Sutter Securities and KPMG, where he was also a founding member of the successful Bay Area valuation team. In addition, he served as CFO for a telecom software start-up that raised multiple rounds of venture capital and delivered products with partners including Hewlett Packard.
Andy has served clients in a wide range of industries and at various stages in their growth. With a focus on technology companies, he has advised global companies such as Square and Apple and also worked with clients from their earliest financings, such as Okta and Twilio. Andy has a B.S. in Engineering from UC Berkeley and earned his MBA at UCLA’s Anderson School of Management.
Andy is a SkyAdvisor, offering advice and mentoring to start-up companies through the University of California Berkeley’s SkyDeck startup accelerator and incubator program (See https://skydeck.berkeley.edu).
phone: 415.203.4177
email: aross@granitevaluations.com
