1355 Peachtree Street N.E., Suite 1470
For a detailed curriculum vitae, please contact Sam Nicholls.
Sam Nicholls is a manager with Willamette Management Associates.
As a manager with Willamette Management Associates, Sam manages engagements related to the valuation of business entities and business interests, and the analysis of privately held and publicly traded securities.
Sam has performed the following types of valuation and economic analyses: business and stock valuations, merger and acquisition valuations, estate and gift tax valuations, family limited partnership valuations, estate and gift tax valuations, fiduciary compensation and damages claims valuations, ESOP formation and adequate consideration analyses and valuations, and fairness opinions.
Sam has prepared these valuation and economic analyses for the following purposes: litigation (breach of fiduciary duty, adequate consideration for controlling and noncontrolling transactions, trust disputes, forensic analysis, economic damages, and dispute resolution), taxation planning and compliance (federal income, gift, and estate tax); transaction pricing and structuring; ESOP transactions and annual ESOP valuation updates; and personal goodwill calculations for S corporation conversions.
Sam has valued the following types of business entities and securities: closely held business enterprises; fractional ownership interests in closely held businesses; publicly traded securities; multiple classes of preferred and common stock in complex capital structures; and interest-bearing debt instruments.
He has performed business valuations in the following industries: industrial (capital equipment for manufacturing; capital equipment for agricultural irrigation; capital equipment for construction and earth moving; commercial and military aircraft manufacturing and maintenance, repair, and overhaul services; timberland and sawmills; various engineering, procurement, and construction companies; road and highway paving contracting); retail (automobile dealerships); energy (electrical transmission and distribution equipment; oil and gas exploration and production platforms and equipment; nuclear facility construction); life sciences (pharmaceuticals, biotech, and medical devices); transportation (maritime ports); information technology (enterprise software); financial (commercial real estate); consumer discretionary (educational services, restaurants); consumer staples (agricultural and livestock farming; household products; food and beverage); basic materials (aggregates; chemicals; mining and mineral extraction; metals fabrication including titanium, steel, aluminum, and specialty metals; polymer products; activated carbon); pollution control equipment; manufacturers of pipelines for water transmission; and cured-in place pipe (CIPP) systems for rehabilitation of water and wastewater pipelines.
Sam has significant experience in many areas of business valuation. He previously served for 12 years as an investment research analyst with both investment banks and investment managers, for 3 years as a venture capital associate, and has been a professor of investment banking since 2012 for The Investment Banking Institute, teaching live courses. As an investment research analyst, Sam served both as a generalist analyzing publicly traded companies in all sectors, and as a sector expert focused on the industrial and life sciences sectors. As a venture capital associate, Sam performed research and valuations of prospective investments in early stage private companies, monitored existing holdings, performed debt recapitalizations structured transactions of limited partnership interests, and assisted with fund accounting.
Sam has worked in the financial sector since 1989. Prior to joining Willamette Management Associates, Sam was a buyside investment research analyst at Carret Asset Management (founded by an early pioneer in value investing), a senior research analyst and director of research at W. Quillen Securities, an associate research analyst at Gerard Klauer Mattison (now part of Bank of Montreal), and a venture capital associate at Rockefeller & Company and Wolfensohn Partners. Sam wrote hundreds of research reports disseminated to institutional investors through Thomson/Reuters, and has been interviewed on Bloomberg live TV.
Master of Business Administration, finance, Yale School of Management
Bachelor of Arts, government, Hamilton College
Sam is an accredited senior appraiser of the American Society of Appraisers (ASA) in business valuation.
Sam is a member of the National Center for Employee Ownership (NCEO).