Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Systems Planning & Analysis (“SPA”), a leading global provider of strategic advisory, systems engineering, modeling and simulation, advanced analytics, industrial policy, and program management solutions to government and defense customers, has acquired PRKK, LLC.  

Founded in 2006, PRKK’s mission is the advancement of Space Domain Awareness and Space Superiority.  PRKK is a recognized leader in large, cross-domain studies and analyses for clients such as the Office of the Secretary of Defense Strategic Capabilities Office (OSD SCO), U.S. Space Force, Space Security and Defense Program, and the Intelligence Community.  PRKK has operations across the U.S. including Washington, D.C., Colorado Springs, CO, and Vandenberg SFB, CA.

Billions of dollars are invested into U.S. businesses every year by economic development agencies across the country. These investments come in the form of tax credits and incentives aimed at attracting, recruiting, and supporting targeted industries. However, many companies are unaware of the existence of these incentives or mistakenly believe they don’t qualify. Even those who receive incentives often fail to maximize their benefits due to various reasons. In this blog, we will explore the importance of incentives, qualifying criteria, the best time to seek incentives, and the significance of performance metrics and proof of performance reporting.

Unveiling the Incentives:

Economic development agencies offer a range of incentives to attract and retain businesses. These incentives, often provided as cash or cash-like benefits, can have a significant impact on a company’s EBITDA. Some common examples include training grants, site preparation grants, land/property donations, utility rate reductions, permit fee waivers, cash for jobs, infrastructure upgrades, railway extensions, and property tax abatements. Additionally, there are numerous project-specific incentives that are not widely publicized on economic development websites.

Evergreen Advisors is delighted to announce the return of William O’Donnell as a Director in our Corporate Advisory Practice. With a wealth of experience spanning CPA and corporate advisory domains, Will brings a distinctive expertise to his role.

Will’s extensive skill set covers areas including estate and gift tax, ESOPs, business combinations, goodwill impairment, IRC Section 409A compliance, and more. He excels in complex financial matters, including dissenting shareholder concerns, Subchapter-S elections, and marital dissolution.

Loyola University Maryland’s Simon Center for Innovation & Entrepreneurship proudly announces the formation of its inaugural advisory board, featuring prominent business leader and entrepreneur, Mike Gill, Chairman of Evergreen Advisors. This new advisory board is poised to play a pivotal role in advancing the mission of the Simon Center by offering expert guidance and leveraging their extensive networks to bolster educational programs for students and entrepreneurs in Baltimore.

In today’s dynamic business landscape, companies are constantly seeking innovative ways to streamline operations, optimize resources, and drive growth. One area that plays a pivotal role in achieving these objectives is financial management. As businesses strive to reach the next level, the question arises: Should you hire an outsourced CFO? In this blog post, we will explore the key considerations and advantages of engaging the services of Evergreen Advisors’ Outsourced CFO advisory group to help propel your company toward success.

Defining Your CFO Needs:

Before deciding to outsource the CFO role, it is crucial to assess your organization’s requirements. What aspects of financial management could be improved or could benefit from expert guidance? Outline your wish list for taking your company to the next level. A CFO brings financial expertise, strategic insights, and valuable advice to the table, assisting the CEO and senior executives in making informed decisions.

Evergreen Advisors Capital is excited to announce the release of our Q2 2023 Aerospace, Defense, & Government Services Market Update. This comprehensive report offers industry insights, highlighting noteworthy transactions, an analysis of M&A and private placement activity, and essential data on valuation metrics and stock price performance.

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In this edition of our Entrepreneur Spotlight, we’re thrilled to showcase one of our remarkable Outsourced CFO clients, Simple Cell, and highlight its co-founder, Nick Skelly. As a pioneering re-commerce company, Simple Cell has forged strong partnerships with manufacturers, national distributors, and big-box retailers. Their mission is to maximize the value and extend the life cycle of customer returns, overstock items, and end-of-life products. With its cutting-edge e-commerce and logistics platforms, Simple Cell is revolutionizing how products find their way into the hands of those who genuinely need them.

For many years, investors in qualified small business stock (QSBS) have sought to take advantage of a little-known tax election under Section 1202 of the Internal Revenue Code (IRC).  Subject to certain eligibility requirements (outlined below), Section 1202 allows stockholders to claim an exclusion from the gain on the sale of QSBS for federal income tax purposes.  The gain exclusion could be very significant depending on facts and circumstances.  The realization of this benefit has become more likely with the passage of the Inflation Reduction Act because none of the proposed amendments, which were meant to curb Section 1202 benefits, were adopted.

The following are some of the essential eligibility requirements to qualify for Section 1202 gain exclusion:

Billions of dollars are invested into U.S. businesses every year by economic development agencies across the country. These investments come in the form of tax credits and incentives aimed at attracting, recruiting, and supporting targeted industries. However, many companies are unaware of these incentives or mistakenly believe they don’t qualify. Even those who receive incentives often fail to maximize their benefits due to various reasons. In this blog, we will explore the importance of incentives, qualifying criteria, the best time to seek incentives, and the significance of performance metrics and proof of performance reporting.

Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Sayres Defense, a Broadtree Partners portfolio company, has acquired Joint Research and Development (JRAD). Broadtree Partners is a middle-market private equity firm with a specific focus on aerospace, defense, intelligence, and federal civilian government services. JRAD is a leading provider of test and evaluation services, total life-cycle acquisition support, medical and public health preparedness, and science and technology research and development to government customers including DOD, DHS, and Federal Civilian Agencies. JRAD has extensive expertise in defense and homeland critical areas including weapons of mass destruction, emerging CBRN threats, modeling and simulation, systems engineering and integration and laboratory and non-laboratory sciences.

Fred Shaw is a Vice President in the CFO Advisory Practice of Evergreen Advisors, LLC. With diversified experience in both public and private accounting, Fred has provided financial advisory services to clients in various industries, including Manufacturing, Health Care, Service, and Government Contracting. At Evergreen Advisors, Fred helps businesses achieve their financial goals by providing tailored financial solutions that can help them grow, optimize operations, and improve financial performance. Whether clients need to improve cash flow, raise capital, or navigate complex regulatory requirements, Fred has the knowledge and expertise to guide them through the process.

Jeff Reed, Senior Vice President of Evergreen Location Strategies will attend the 19^th annual Business Facilities LiveXchange event in Myrtle Beach April 24^th -26^th where he will join professionals from across the country. With over 30 years’ experience in location analysis, site selection, and business incentive services, Jeff brings a wealth of knowledge and strategic consulting to not only corporate entities in the U.S. and abroad, but also to economic development agencies and communities seeking to gain a competitive edge. He is an expert in creative solutions to ensure ELS clients increase project ROI by maximizing incentives such as tax abatements and cash grants for infrastructure, new jobs, machinery and equipment, employee training and much more.

A recession is a period of economic slowdown that can have far-reaching consequences for businesses and individuals alike. With that in mind, it is more important than ever to be proactive and take control of one’s cash flow.  It is a critical for both businesses and individuals to navigate the challenges posed by a recession.

Here are five ways to manage cash flow during a recession. 

Evaluate all your outgoing expenses and prioritize them based on importance. Pay bills for essential services first, such as utilities, rent, and payroll. Evaluate if you are able to delay or renegotiate payments for non-essential expenses. Extending terms just five to ten days can have a huge compounding impact on your cash outlook.

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Evergreen Advisors, a middle-market investment bank and corporate advisory firm with offices in both Columbia, MD, and McLean, VA, is delighted to announce that Mike Gill is returning to the firm as Chairman.

“We are thrilled to have Mike back on the team; the combination of being the first Secretary of Commerce of Maryland and his incredible business acumen makes him a tremendous asset to our clients and those companies looking to grow and expand their businesses. We couldn’t be happier to have him back!” noted Shelley Lombardo, Chief Operating Officer of Evergreen Advisors.

Mike is a business leader with four decades of experience as an entrepreneur, technology executive, investment banker, and public servant. Former Governor Larry Hogan selected him in 2014 and 2021 to head the Maryland Department of Commerce as its first-ever Secretary. While under Mike’s leadership, Commerce created an aggressive customer outreach effort, expanded its business development team, and increased its emphasis on Maryland’s growth industries, including life sciences, cybersecurity, advanced manufacturing, and higher education.

Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that BlueAlly, a Source Capital portfolio company, has acquired n2grate. Evergreen Advisors Capital acted as the exclusive financial advisor to n2grate. The terms of the transaction were not disclosed.

Rick Kohr, Chief Executive Officer of Evergreen Advisors Capital, noted, “Steve Halligan and the whole n2grate team have done an incredible job scaling the company to the outstanding IT consulting firm it is today. It was a pleasure to work with their team, and we are very excited about what BlueAlly and n2grate can do together”.

n2grate boasts a 13-year history of successfully supporting their government clients and large corporations with a range of information technology (IT) solutions. The company is a leading government IT solutions that has expertise focusing in networking, security, and infrastructure.

Evergreen Advisors, a middle-market investment Bank, and Corporate Advisory firm, with offices in both Columbia, MD, and McLean, VA, is pleased to announce the addition of Jeff Kinderman to our Investment Banking practice.

“We are proud to add Jeff as an integral member of our investment banking team. Jeff‘s significant experience in deal execution and thought leadership in professional valuation services will add to the already robust capabilities of our investment banking practice.  We are thrilled for him to be joining our team, and he is already adding value.” Stated Sam DiPaola, President and Managing Director of Evergreen Advisors Capital Investment Banking practice.

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Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Mobile Communications America has acquired Communications Electronics. Communications Electronics is a leading provider of communication technology to public safety agencies, schools, hospitals, and enterprises across the Mid-Atlantic. Evergreen Advisors Capital acted as the exclusive financial advisor to Communications Electronics. The financial terms of the transaction were not disclosed.

“We are excited to have advised Communications Electronics throughout their acquisition,” said Rick Kohr, CEO of Evergreen Advisors Capital. “Communications Electronics is a leading provider of technology and expertise in the public and private sector markets; their track record of being a unified solution for customers made them an attractive acquisition target, and I look forward to seeing what these two companies can do together.

Communications Electronics boasts a 46-year history of successfully making mission-critical connections across the Mid-Atlantic. The company provides core communications technology by focusing on system design & engineering, sales, installation maintenance, technical support, and service agreements to ensure optimal systems and critical infrastructure performance.

Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that Wheelhouse Group has been acquired by Cadmus. Cadmus, a technical consultancy company headquartered in Waltham, MA, and Wheelhouse Group headquartered in Fairfax, VA, have established themselves as successful firms focused on advancing the mission of their clients.

Evergreen Advisors Capital acted as the exclusive financial advisor to Wheelhouse Group with Legal and accounting support provided by Zarren Law Group and KWC. The Evergreen Advisors Capital deal team included Steve Prichett and Justin Horsman. The financial terms of the transaction were not disclosed.

“Wheelhouse has built a fantastic business prepared to capitalize on the evolving market by providing leading solutions to their clients. Cadmus embodies a terrific strategic and cultural fit – we are thrilled for their continued success,” stated Steve Prichett, Managing Director, Evergreen Advisors Capital.

A strategic CFO will be your course navigator, someone you can trust to be your co-pilot, an expert you can depend on to help make important decisions for your company. Whether your business is an early stage or an established enterprise, a strategic CFO is imperative to a successful company at any stage in its life cycle in order to strengthen a company’s financial foundation, improve performance, and accelerate growth. Companies who forgo a CFO until they “believe the company is large enough” will face roadblocks and red tape that can hinder growth and create obstacles that all companies want to avoid.

George Davis, to Evergreen, is a Strategic Advisor who is well-known for his success in investing, building, and managing biotech, IT, and software companies, often from the start-up stage. He is an active leader in the tech and innovation community, serving on a number of boards, including Betamore, UMBC’s Research Park Corporation, Association for Enterprise Growth, and the Fearless-backed Hutch Studio. What is little known about George is his work as a Johns Hopkins Cancer Survivor Patient Advocate.

In 2020 & 2021, George served as a Patient Mentor to the Orioles’ first baseman and designated hitter Trey Mancini, who was diagnosed with Stage 3 Colon Cancer in March of 2020. Trey had gotten a routine physical for the blood draw showed that his hemoglobin and hematocrit were low. It was then that a colonoscopy was scheduled, and the tumor was found. After a year of treatment, he is now cancer-free. Trey is fortunate as colorectal cancer is the third deadliest cancer in the United States — after lung and prostate in men and lung and breast in women. What is not often realized is that half of all new colorectal cancer diagnoses are in people 66 or younger. The most challenging part is that those diagnosed with colorectal cancer often have experienced no signs or symptoms associated with the disease.

Evergreen Advisors, a middle-market Investment Bank, and Corporate Advisory Firm, with offices in both Columbia, MD and McLean, VA, is pleased to announce the addition of John Goode to our CFO Advisory Practice.

“We are excited to add John to our CFO Advisory team. John is a seasoned forward-thinking CFO whose experience in strategy, process improvement, and exceptional analytical skills will be an invaluable benefit to our clients”

-Eric Clarke, Managing Director of Evergreen’s CFO Advisory Practice

John Goode has fostered his executive financial management experience through strategic roles as a COE/CFO for a large regional construction company and several professional IT-based companies in the Mid-Atlantic region. John has prominent experience in the following industries: construction, oil and gas production, information technology, CFO consulting, public accounting, radio broadcasting, and government contracting. John earned dual Bachelor of Arts degrees in Accounting and Business Administration from Loyola College (now Loyola University) in Baltimore, Maryland, and is a Certified Public Account in the State of Maryland.