Richard L. Lies III

CFA, ASA

Director

Richard Lies is a Director in the Business Valuation Consulting service of Blackman Kallick’s Corporate Finance Consulting group and is experienced in the valuation of closely-held equity securities, partnership interests and intangible assets (e.g. including technology, intellectual property, trade names, customer relationships, and non-competition agreements).

Prior to joining Blackman Kallick, Richard was a manager in the Strategic Valuation Services group at Arthur Andersen LLP. After Andersen, he was a managing consultant in the Valuation Services group at LECG, LLC, an expert services and litigation-consulting firm. His experience has encompassed valuation projects for U.S. and international tax compliance, estate and gift planning, general business planning, merger and acquisition consultation and litigation support purposes.

Education

Richard is a graduate of Northwestern University, having earned a Bachelor of Science degree in Electrical Engineering. Additionally, he holds a Master of Business Administration degree with a concentration in finance from the University of Iowa. He is a Chartered Financial Analyst (“CFA”), an Accredited Senior Appraiser (“ASA”), and is a member of the Business Valuation Association of Chicago.

Other Relevant Experience

Prior to his post-graduate studies, Richard gained valuable experience in the food processing industry at a $100 million revenue company. He worked in a managerial position at the privately owned commercial bakery.

Example of Engagements

• Valuation of a privately held company that came under IRS scrutiny. IRS declined to proceed with their challenge after receipt of a memorandum Richard created to counter the agent’s objections.
• Assisted a franchisee regarding the potential divestiture of its business including valuation, pre-sale preparatory work.
• Named expert in valuation for marital dissolution.
• Valuation project for one of the largest acquisitions in the branded consumer products industry. Analysis included the valuation of 18 international subsidiaries, developed and in-process technologies, and over 30 trade names.
• Valuation of technology, customer relationships, assembled workforce and other intangible assets for an international, multi-billion dollar professional services firm.
• Advised an engineering research firm regarding the potential acquisition of a competitor’s subsidiary.
• Valuation of an international biotechnology company’s closely held common equity in connection with the issuance of stock options.

Articles by Richard Lies

• Most Significant Business Valuation Tax Court Case in Years — Estate of Gallagher
• When Are Fractional-Interest Discounts Appropriate for Estate Purposes?
• Taxpayer Loses Full Amount of Charitable Deduction, IRS & Court Rule Appraisal “Not Qualified”
• Current Environment Provides Perfect Moment for Gifting Carried Interests
• Estate Planning Secret: How to Use Lack of Marketability

News about Richard Lies

• Lies Article, “The Lower the Value, the Greater Gift!,” Published in Construction Today
• Lies Family Limited Partnerships Article Published in Valuation Strategies Journal