Dr. Kipp Krukowski, ASA, CVA
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 business owners and companies better understand and prepare for their entrepreneurial exits.
I have founded several businesses in the area of small business M&A, business valuations, and equipment appraisals, and I continue to be a trusted advisor consulting with business owners and companies in appraisal, valuation, and value creation.
My research focuses on entrepreneurial exits, small business valuation, and value creation and has been published in journals such as Business Horizons, Journal of Business Venturing Insights, Journal of Small Business Management, and The Value Examiner, among others.
Valuation and Value Creation Experience
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 and logistics at General Motors, Delphi Automotive Division. 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 University, I decided to buy an existing company. Going through this process made me realize there was a great need in helping business owners prepare their companies for sale as well as educate individuals like myself with an MBA looking to buy a small business which is a totally different animal. 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 to help consummate a deal.
The company I founded expanded to offices in three Midwest industrial cities. I earned the CBI (Certified Business Intermediary) credential from the International Business Brokers Association along with the CEPA (Certified Exit Planning Advisor) credential from the Exit Planning Institute. My company successfully closed on over 100 business transactions 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.
After taking several entrepreneurship courses at Carnegie Mellon University, I decided to buy an existing company. Going through this process made me realize there was a great need in helping business owners prepare their companies for sale as well as educate individuals like myself with an MBA looking to buy a small business which is a totally different animal. 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 to help consummate a deal.
The company I founded expanded to offices in three Midwest industrial cities. I earned the CBI (Certified Business Intermediary) credential from the International Business Brokers Association along with the CEPA (Certified Exit Planning Advisor) credential from the Exit Planning Institute. My company successfully closed on over 100 business transactions 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.
I then founded Equipment Appraisal Services (EquipmentAppraisal.com) and began providing nationwide machinery and equipment services. To focus on the company's growth, the brokerage firm portion of the business was sold. A few years later, the company expanded offerings to include business valuations under Business Valuation Specialists (BusinessValuations.net). Over these years, I received the ASA (Accredited Senior Appraiser) designation in MTS (Machinery & Technical Specialties) from the American Society of Appraisers and CVA (Certified Valuation Analyst) 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 reached the 1000s, the opportunity presented itself to harvest and my company was acquired.
I went back to school to receive my Ph.D. at Oklahoma State University, eventually landing at Colorado State University 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 business valuations and equipment appraisals through MFG Valuation Specialists (MFGvaluations.com).
I went back to school to receive my Ph.D. at Oklahoma State University, eventually landing at Colorado State University 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 business valuations and equipment appraisals through MFG Valuation Specialists (MFGvaluations.com).
Additional Background Information
Education- PhD from Oklahoma State University
- MBA from Carnegie Mellon University
- Mechanical Engineering degree from Youngstown State University
- ASA (Accredited Senior Appraiser) in Machinery & Technical Specialties (MTS) - American Society of Appraisers
- CVA (Certified Valuation Analyst) - National Association of Certified Valuators and Analysts
- CBI (Certified Business Intermediary) - International Business Brokers Association
- CEPA (Certified Exit Planning Advisor) - Exit Planning Institute
- Founded Equipment Appraisal Services
Equipment Appraisal Services (www.EquipmentAppraisal.com) provides nationwide USPAP compliant machinery and equipment appraisals for lenders, attorneys, accountants, and business owners. EAS is called upon by international companies and high net worth individuals in complex litigation situations for specialized valuation expertise. The company completed over 1,100 valuation projects globally, valuing billions of dollars in tangible assets prior to being acquired. [EAS was acquired in December 2018 and it continues to be a leader in machinery and equipment appraisals.] - Founded Business Valuation Specialists
Business Valuation Specialists, LLC (www.BusinessValuations.net) is a boutique valuation firm that provides certified business valuation reports for lenders for SBA loans, attorneys, accountants, and business owners. The valuation professionals are accredited through the National Association of Certified Valuators and Analysts (NACVA) and provide valuations nationwide specializing in privately-held companies under $20 million in revenue for situations related to business planning, buy/sell, estate, and financing purposes. [BVS was acquired in December 2018 and it continues to be a leader in business valuations.] - Founded Confidential Business Sale, Inc.
Founded in 2003, Confidential Business Sale specialized in business brokerage services for privately-held businesses priced up to $20 million with physical offices in Cleveland, Detroit, and Pittsburgh. Services included sell-side representation, buy-side acquisition searches, and business valuations. The company had a team of business brokers which successfully sold over 100 privately-held businesses prior to ownership transfer. [CBS was acquired in May 2011.]
- 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
- 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