BTA’s ESOP Team
Mr. Frederick H. Thomas is Managing Director of BTA, Inc., principally responsible for business development, succession planning, ESOP formation, consulting, merger/acquisition and transaction design. A graduate from the University of Missouri with a degree in Business Administration (with Finance major). Mr. Thomas has been actively involved in the financial industry since the mid ’70′s. Mr. Thomas is a member of The National Center of Employee Ownership (NCEO), The ESOP Association and The Society of Financial Service Professionals.View Fred Thomas Extended Bio
Fred Thomas has been an enthusiastic Business leader since his first job after graduating top 10 with a Bachelor of Science in Business from the University of Missouri. He is the only son of an executive father who was the first in his family to leave his small hometown to pursue a professional career. Promoting Business and optimal opportunity for business seems to be in his blood.
Mr. Thomas started his career at Bank Building Corporation in 1975 as a financial analyst in Washington DC. Bank Building Corporation was a national design/build firm that worked exclusively with financial institutions. His primary activities were to work with Bank Owners and management to analyze deposit and customer activity levels to determine optimum work flow and project staffing levels by department. He completed studies to determine strategic branch bank locations and completed the formal FDIC applications. Mr. Thomas was promoted to the corporate finance department in St. Louis where he was responsible for analyzing financial and operating data on all operating subsidiaries then preparing and presenting executive reports to the Board of Directors. Subsidiaries included environmental consulting firms, financial consulting firms and valuation firms. Mr. Thomas consulted with the presidents of each subsidiary to increase profitability and cash flow. He was also a member of the due diligence team for evaluating potential acquisitions.
In 1983 Mr. Thomas went to work for Marshall & Stevens Incorporated a large National valuation firm as Operations Manager of their Central region (5 offices). In 1985 he was promoted and relocated to Los Angeles as Operations Manager for the Central and Western Region (10 offices). As Operations Manager he was responsible for staffing and scheduling all consulting assignments from start to finish. His duties included profit and loss responsibility for the Region which included staffing levels, accounts receivable and accounts payable. In 1988 the company was bought by a Swiss Holding Company. Mr. Thomas’ boss was promoted to President of the corporation and Mr. Thomas was promoted to President of Central and Western region which included the additional responsibility of marketing and sales. He continued in this role until 1990 when he was promoted to Executive Vice President in charge of the entire operations of Marshall & Stevens.
In 1993 Mr. Thomas and the President lead a management buyout of M&S from the current owner a Swiss based holding company. They successfully bought out the company and then did an offering to all employees to help fund the buyout. Since the buyout Mr. Thomas has had a variety of senior management positions including President of the largest division, Executive Vice President and most recently Chief Operating Officer. Mr. Thomas had direct Profit and Loss responsibility during his entire career with M&S. During that time frame Mr. Thomas was involved in selling 3 divisions and starting two divisions. He started the Cost Segregation division and grew it into the largest and most profitable division in M&S. In 1995 Mr. Thomas started the ESOP division of M&S. It was incorporated into a separate company in 1997. Since the beginning of the unit Mr. Thomas has been consulting personally with hundreds of business owners all over the nation to design and implement of ESOPs. His experience of operational management, accounting and finance, valuation, as well as starting businesses from scratch, and business ownership combined with his comprehensive knowledge of ESOPs brings a unique blend of talents to the business owner.
In 2008 Mr. Thomas and his partners started another new business, Business Transitions Advisors, Inc.
Mr. Thomas is a active member of both the ESOP Association and the National Center for Employee Ownership.
Mr. Roy A. Farmer II is also a Managing Director of BTA Inc. Roy’s responsibilities include business development, corporate reorganization and finance, succession planning, consulting & ESOP implementation. A graduate from American River College and Brigham Young University with degrees in Business and Business Administration, Mr. Farmer has also been actively involved in the financial industry since the mid ’70′s. Mr. Farmer has been active in the ESOP community since 1999, and has worked on well over 100 transactions. He is a member of the ESOP Association and is currently on the Board of Directors for a defense contractor and an oilfield services company.View Roy Farmer's Extended Bio
Mr. Farmer began his career working for an Investment Banking firm where he held several positions including Vice President, Sr. Vice President and President. He was the President of the firm’s NASD Broker Dealer and President of their Specialized Investment Company.
Following this investment banking work, Mr. Farmer has also been an entrepreneur. He has started and managed several businesses, some from start-up, and has been an advisor to many others. He started one company and sold it privately, and then served as the CEO/COO of a mid stage company that he recapitalized, grew and eventually sold to a joint venture partner that made a multimillion dollar investment. He then founded a company that grew to 7 offices in five states, with 200 employees, and $20 Million in sales. He later took the company public and became the CEO of the public holding company and Board Chairmen. He has also served on the Board of Directors of several companies.
A graduate from American River College and Brigham Young University with degrees in Business and Business Administration, and graduate studies at Pepperdine University, Mr. Farmer has also been actively involved in the financial industry since the mid ’70′s. Mr. Farmer is a member of the ESOP Association and the National Center for Employee Ownership.
CLU, ChFC, LUTCF
Daniel M. Zugell, CLU, ChFC, LUTCF is Director/Senior Vice President of BTA, Inc. with a wealth of hands-on and management experience spanning many financial service disciplines. Dan’s experience includes the formation of MetLife’s ESOP program and as a Director of MetLife’s Institutional Specialized Benefit Resources division. Since 1998, Dan has emerged as a national presence on ESOP matters as a frequently published author and featured speaker. Dan holds a B.A from Grove City College, has earned several advanced financial designations and is a member of The ESOP Association, National Center for Employee Ownership, The Estate Planning Council and the Society of Financial Service Professionals.
View Dan Zugell's Extended Bio
Dan is Director of Los Angeles based, Business Transition Advisors, Inc. (BTA) and runs the Eastern U.S. BTA office. BTA is a nationally recognized firm dedicated to assisting owners of closely held businesses with their business succession and liquidity planning including stock and asset sales, private equity sales, leveraged management buyouts, entity corporate redemption and Employee Stock Ownership Plans (ESOPs).
Dan joined BTA with experiences expanding many financial service disciplines since he began his career in 1991. Since 2003, Dan has specialized in executive benefits, nonqualified deferred compensation planning and ESOP repurchase liability financing as Regional Director-Central U.S. for MetLife Group’s Specialized Benefit Resources division and as Regional Director-Central U.S. for Guardian Insurance Company. During this time, Dan was published in the prestigious Journal of Financial Service Professionals/May 2007 with his article titled “Executive Benefits for ESOP-Owned S Corporations Post-IRC Secs. 409A and 409(p).”
Dan emerged as a nationally recognized expert in the field of forecasting and managing the corporate repurchase liability inherent to privately held ESOP companies as Executive Director of GenAmerica’s and MetLife’s ESOP Departments. While in his leadership role, he designed, implemented and successfully marketed innovative financing methods to address the legal and fiduciary obligation to “buy back” stock from exiting plan participants.
Previously Dan held several positions with St. Louis based GenAmerica Financial/MetLife. As Executive Director of Sales, he managed several large financial producer group relationships where he oversaw the implementation of complex financial case and had leading roles in key corporate strategic marketing, concept and sales initiatives.
Dan holds a B.A from Grove City College and has earned several advanced financial designations from The American College including Chartered Financial Consultant, Chartered Life Underwriter and Life Underwriter Training Council Fellow. He holds Securities Series 7 & 63 licenses as well as life/accident/health insurance licenses. Dan is currently the President of the Society of Financial Service Professionals-Pittsburgh Chapter, Board Member of the Pittsburgh Business Ethics Awards, Member of the Estate Planning Council of Pittsburgh, National Association of Insurance and Financial Service Advisors, The ESOP Association, the Ohio Center for Employee Ownership, the National Center for Employee Ownership and the Association for Corporate Growth.
With over 15 years of experience, Mr. Hanson has been advising boards of directors, management teams and investors through mergers and acquisitions, fairness opinions, ESOP valuations, fundraising, due diligence efforts and strategic and succession planning. Currently, Mr. Hanson serves on the Board of Directors of Carl Warren & Company and serves as the Treasurer of the Board of Directors of the Milwaukee Chamber Orchestra. Previously Mr. Hanson was a Principal with Marshall & Stevens, a Vice President with Valuation Research Corporation and a Research Associate with Robert W. Baird & Co.
CLU, ChFC, MSM
Andrew I. Shapiro, CLU, ChFC, MSM is Director/Senior Vice President of BTA, Inc. Andrew has over 30 years of experience in the Financial Services industry, with a focus on working with business owners to provide executive benefit plans and craft business succession plans. Andrew is known for his ability to create innovative solutions that integrate family dynamics, tax regulations, and the desires of corporate owners to control and monetize their business assets. A well known public speaker and author, Andrew holds a B.S. from the prestigious Long Island University College of Management, an M.S. from The American College, and is an active member in many industry organizations. Andrew’s history of working with businesses that range from single person start ups to century old publicly traded corporations gives him a broad range of experiences on which to draw. Active in the community, Andrew has served on the board of a local charity and coached soccer, wrestling, and tae kwon do.
Stephen Perrone brings with him extensive experience in dealing with owners of privately held companies. For the past 10 years he has been an independent business consultant and limited his practice to assisting business owners in developing business succession strategies and solutions customized for their businesses and their personal goals. He has also served as an outside director for those entities, both privately owned and publicly owned. He presently serves as an outside director for a company in which the owner sold 100% of his Company to a newly formed Employee Stock Ownership Plan. Mr. Perrone is a member of the ESOP Association and the National Center for Employee Ownership as well as other professional organizations. He is an Honors Graduate of the University of South Florida (Accounting) and Stetson College of Law (J.D.). He has been an active participant in several community and charitable organizations.View Stephen Perrone's Extended Bio
During the past several years, Mr. Perrone has limited his services to (1) projects that interested him, (2) long time clients and others referred by persons he has worked with or known for many years, (3) projects where his past experience would permit him to add “value” to the project or client, and (4) projects where he could coordinate different professional personnel to put a plan into practice in a timely and efficient manner.
He joined BTA because he especially enjoys working with business owners who need to (1) consider a “business succession” plan or “exit strategy” for the benefit of himself and his family or for the long time employees of the business or (2) create a “liquidity event” to fund an estate plan or charitable contribution.
Mr. Perrone previously practiced law in south Florida with the law firm of Shutts & Bowen – a Florida law firm founded in 1910. As a partner for 24 years, his legal practice involved all aspects of corporate and tax planning for individuals, entrepreneurs and non-U.S. investors. During that time he was involved with both publicly held and private companies. He was a lecturer for the Florida Bar and other groups related to those matters. Mr. Perrone is also a licensed, but non-practicing, Florida Certified Public Accountant.