Dr. Kipp Krukowski, ASA, CVA

Business Value Creation

Beyond Business Valuation...

Lack of advance planning and action can cause business owners to lose value and potentially make their companies unsaleable.

I'm Dr. Kipp Krukowski and I am a Clinical Professor of Entrepreneurship at Colorado State University. My practical industry experience helps students gain insight on how to create successful companies while my research helps advance understanding of entrepreneurial exits.

I continue to be a trusted advisor consulting manufacturing business owners and companies in valuation and value creation through my company, MFG Valuation Specialists.

Kipp Krukowski Dr

Valuation and Value Creation Experience

After earning my mechanical engineering degree in the late 90s, I started my career in manufacturing holding positions in global purchasing, quality assurance, and production control/logistics. I received six sigma training and focused on value creation strategies to improve efficiencies and eliminate waste within production, utilizing value stream mapping and participating in make vs. buy studies and total cost analyses.

After taking several entrepreneurship courses at Carnegie Mellon, I decided to buy an existing company. Going through this process made me realize that the real opportunity was helping business owners prepare their companies for sale. So, in 2003, I opened up a business brokerage firm. In addition to recommending value creation strategies to improve operations prior to placing companies on the market, I helped in areas of business valuation, negotiation, deal structuring, and due diligence.

My business expanded to offices in three industrial cities. We completed over 100 successful transactions, and I earned the CBI credential from the International Business Brokers Association along with the CEPA credential from the Exit Planning Institute, and I was recognized by the Business Brokerage Press as an industry expert for selling manufacturing companies. Service offerings were expanded to include machinery and equipment appraisals. Projects began pouring in from around the country, so to focus on this niche, the brokerage firm portion of the business was sold. A few years later, the company expanded offerings to include business valuations. I received the ASA in Machinery & Technical Specialties credential from the American Society of Appraisers and CVA credential from the National Association of Certified Valuators and Analysts, and I provided expert witness testimony for million-dollar litigation cases related to valuation. In 2018, after client valuation projects reaching the 1000s, the opportunity presented itself to harvest, so I sold my company.

I went back to school to receive my Ph.D. at Oklahoma State, eventually landing at Colorado State researching and teaching students about starting and building a business.  I continue to be a trusted advisor consulting companies in valuation and value creation, providing manufacturing valuations and business appraisals through my company, MFG Valuation Specialists (MFGvaluations.com).

Recent Research Articles

Journal of Business Venturing Insights (2023) - Kipp Krukowski
Why are you selling your business? Understanding signaling effects of seller rationale at time of entrepreneurial exit, featured in Journal of Business Venturing Insights
The Value Examiner (November-December 2024) - Kipp Krukowski
Value Creation Strategies for Improving Company Infrastructure in Advance of Selling a Business, featured in The Value Examiner journal
Business Horizons (2022) - Kipp Krukowski
Selling a business after the pandemic? Crisis and information asymmetry impact on deal terms, featured in Business Horizons journal
The Value Examiner (September-October 2024) - Kipp Krukowski
Examining the Business Model: Value Creation Strategies for Improving Financial Viability Before Selling, featured in The Value Examiner journal
Journal of Small Business Management (2024) - Kipp Krukowski
From liability to asset: A receiver’s perspective on eponymy signals and market value, featured in Journal of Small Business Management
The Value Examiner (July-August 2024) - Kipp Krukowski
Business advisor and dealmaker testimonies: deficiencies in privately held small businesses leading to failed M&A transactions, featured in The Value Examiner journal
The Value Examiner (May-June 2021) - Kipp Krukowski
A call for industry specialization: an academic perspective on the importance of qualitative research, featured in The Value Examiner journal
Business Horizons (2023) - Kipp Krukowski
Winning the opportunity to pitch: Piquing startup investors’ interest by sending the right signals in executive summaries featured in Business Horizons journal

Additional Background Information

Education
PhD from Oklahoma State University, Mechanical Engineering degree from Youngstown State University, and MBA from Carnegie Mellon.

Additional Professional Accreditations Received
ASA (Accredited Senior Appraiser) - American Society of Appraisers, CVA (Certified Valuation Analyst) - National Association of Certified Valuators and Analysts, CBI (Certified Business Intermediary) - International Business Brokers Association, and CEPA (Certified Exit Planning Advisor) - Exit Planning Institute.
 
Businesses Founded
MFG Valuation Specialists (MFGvaluations.com - current), Equipment Appraisal Services (EquipmentAppraisal.com - business was acquired), Business Valuation Specialists (BusinessValuations.net - business was acquired), and Confidential Business Sale, Inc. (business was acquired)
 
Past Business Corporate and Government Clients
Provided appraisal reports for government agencies, privately-held companies, and public companies such as: Acceleron Pharma (NASDAQ: XLRN), Apogee Enterprises, Inc. (NASDAQ: APOG), Barnes Group Inc. (NYSE: B), CITGO Corporation, The Commonwealths of Kentucky & Pennsylvania, Fluor Corporation (NYSE: FLR), Holcim, Johnson Controls, Inc. (NYSE: JCI), Kohler Co., Magneti Marelli, Marvell Semiconductor (NASDAQ: MRVL), New York Power Authority, Robert Bosch LLC, MAN Diesel & Turbo, Miba AG, Nucor Corporation (NYSE: NUE), TE Connectivity Ltd. (NYSE: TEL), The Ohio Department of Transportation and many others

Past Business Banking and Insurance Clients
Partial list of current/past lender and insurance company clients: Atlantic Coast Bank, Bank of Missouri, Bank of Montana, Bank of Oklahoma, Bank of the Panhandle, Bank of the West, BB&T, BBVA Compass, Business First Bank, Celtic Bank, Champaign Bank, Citizens Bank, City National Bank, Commonwealth Business Bank, CSB Bank, Enterprise Bank, Erie Insurance, Extraco Bank, First Bank, First Farmers, First National Bank, First National Bank of Minnesota, First Nations Bank, FirstMerit Equipment Finance, Franklin Synergy Bank, Georgia Banking Company, Great Southern Bank, Heartland Bank, Home Savings Bank, InterBank, Kish Bank, Lake Area Bank, Lorain National Bank, Mainland Bank, MidSouth Bank, Mutual of Omaha Bank, National Credit Union Administration, Nationwide Insurance, NOA Bank, NorthStar Bank, Northwest Community Bank, Northwest Savings Bank, Peoples Bank, PNC Bank, RBS Citizens, Regions Bank, Republic Bank, Security Federal Bank, ServisFirst Bank, TDBank, Tennessee Farmers Mutual Insurance Company, The Citizens Bank, The Huntington National Bank, The National Bank, U.S. Bank, Union Bank, USAmeriBank, Vectra Bank, Wells Fargo, Zions, Zurich N.A. as well as others
 
Partial List of Manufacturing and Distribution Companies Sold
• Metal Stamping Operation 
• Beverage Manufacturer / Food Processor 
• Material Handling Equipment Distributor 
• Custom Wood Products Manufacturer 
• Precision Machining & Grinding 
• Granite Countertop Manufacturer 
• Chemical Products Distributor 
• Aftermarket Automotive Restyling Specialist 
• Hardwood Flooring Supplies Distributor 
• Chocolate Manufacturer 
• Industrial Products Distributor 
• Aluminum Fabricator 
• Prototype Manufacturer 
• Foundry & Machine Shop